Aterian PLC - Issue of Convertible Loan Notes

Aterian PLC has issued £150,000 of Convertible Loan Notes with zero coupon to a longstanding shareholder, which are mandatorily convertible into Ordinary Shares at a price of 25 pence per share. The Company can redeem the notes at any time before the maturity date, providing flexibility in cash repayment and reducing dilution to shareholders. Subscribers will also receive Warrants with a strike price of 32.5 pence per Ordinary Share.

Proceeds will support trading operations, following price increases in China Tantalum Concentrate. The injection strengthens the balance sheet and provides financial flexibility for material acquisitions. The Company remains focused on value-building, capital allocation, and projects across Africa.