Shortwave Life Scncs - BOARD APPOINTMENT, FUND RAISE & OPTION AGREEMENTS

SHORTWAVE LIFE SCIENCES PLC

("Shortwave" or "the Company")

20 April 2026

BOARD APPOINTMENT AND RESIGNATION

 FUND RAISE

EU CRITICAL METALS AND AUSTRALIAN GOLD OPTIONS

Shortwave Life Sciences PLC (AQSE: PSY), quoted on the Aquis Stock Exchange Growth Market, is pleased to announce the strategic appointment to the board of Mr Keith Coughlan, a fundraising and that it is extending its area of operational focus into the resources sector.

Shortwave's Rolf Gerritsen comments:

"I am delighted with the extended remit supported by our shareholders and new placees and thank existing and new shareholders for their support as we embark on this very exciting era ahead of us. I welcome Keith to our Board. He brings a wealth of expertise, and we all look forward to working with him on progressing the two mining and exploration options that we have entered into. Keith has achieved significant success in Europe with the EU in Brussels for critical minerals projects and will be invaluable for moving our critical mineral EU ambitions going forward. I would also like to thank Ron Lipsky for his enormous contribution; it has been a pleasure working with him and I along with the board wish him all the very best in his future endeavours. We are now at a moment of major transformation for the Company, and I look forward to reporting progress as we make it."

"The biosciences markets, especially psychedelics, is a new and challenging frontier, with no current approved treatments, the board has determined that this sector presents too many risks for Shortwave at this juncture. As a result, the Board has consulted with most of its shareholders and received support from more than 50% of the Company shareholders to extend its operational remit to include natural resources. The Board has reviewed various available options for further advancement of the Company to change its fortunes. In concluding this review process, the Company has adopted and chosen to extend its operational activities into the natural resources sector, specifically the very important critical minerals and precious metals sectors."

"The Board is now pleased to report that Shortwave has entered into two exclusive option agreements in the resources sector. The first is a potentially very exciting gold and antimony deal in Slovakia which hosts historic mines from the old Russian era that also targets critical metals. The second is a gold transaction in Western Australia that we believe has excellent credentials."

The Company also reports that it intends to enter into an option agreement to sell its clinical assets to a UK based private company. This process is ongoing, and Shortwave will announce anything material on this transaction should it develop further.

Board Resignation

The Company further announces that Ron Lipsky has stepped down from his role with immediate effect. The Board would like to thank Ron for his valuable contribution to the Company, particularly in advancing its clinical development programme, and wishes him every success in his future endeavours.

New Board Appointment

Shortwave is pleased to announce the immediate appointment of Mr Keith Dudley Coughlan to the Board of the Company as a Non-executive Director.

Keith has extensive experience in funding, advising and developing resource projects for companies listed on the ASX, AIM and TSX markets. He has advised various companies on the identification and acquisition of resource projects and was previously employed by one of Australia's then largest funds.

Keith is currently overseeing the development of one of the largest critical metals projects on in the EU having achieved formal recognition of that project under the European Union's Critical Raw Materials Act, and the award of project level grants totalling over GBP 300 million from European sources. Shortwave sees that as a tremendous benefit for its new potential Slovakian gold/antimony project going forward.

Keith Coughlan does not hold any Ordinary Shares in the Company as at the date of this announcement. Save as set out below, there is no further information regarding Keith Coughlan that is required to be disclosed pursuant to Rule 4.9 of the Aquis Growth Market Access Rulebook.

Resource Sector - The Option Agreements

Antimony / Gold / Silver Mine and Portfolio in Slovakia in the European Union

·    Exclusive Option entered into with a privately held Slovakian explorer targeting the premier Antimony-Gold (Sb-Au) and polymetallic Copper-Silver (Cu-Ag) belts in the European Union.

·    Dominant Portfolio: 100% ownership of 3 valid exploration licenses (Lom, Poproc, Strieborna) and 2 license applications.

·    Resource Scale: combined portfolio targeting over 2.8 million tonnes of ore, including solid foundation of high-grade Antimony-Gold projects; Copper-Silver high-grade discovery project, and advanced major polymetallic system with strong Antimony credits.

·    The option was granted in consideration for 3,000,000 Ordinary Shares ("Consideration Shares") in Shortwave representing a deemed value of £45,000. This equity payment grants the Company a 60-day exclusivity to complete due diligence, which will commence on 21 April 2026

Saturn Gold Project Western Australia

·    Exclusive Option entered into to acquire the Saturn Gold Project (E77/2914) in Western Australia.

·    High grade historical small-scale mining project with reported 12g/t gold production grade.

·    Gold prospects defined across three distinct prospect areas.

·    Project situated within 2km of Koolyanobbing Iron Ore Mine in Western Australia.

·    This Option was granted in consideration for a cash payment of £10,000, that gives the Company 45 days exclusivity to complete detailed due diligence. Due diligence will commence 20 April 2026 with a planned site visit.

Both option agreements documents will be posted to the Company web site and can be viewed on www.shortwavelfesciencesplc.com

Fundraising & Potential Move to AIM

The Company advises that it has received a binding subscription agreement to raise gross proceeds of £100,000 through a subscription of 6,666,666 ordinary shares ("Subscription Shares") and a placing through Clear Capital Markets of 7,666,666 new Ordinary Shares ("Placing Shares") for £115,000, both at a price of 1.5 pence per share, to raise in total £215,000 (together "Fundraising Shares") 

Application will be made to the Aquis Stock Exchange for admission of the Placing Shares and the Subscription to trading on Aquis. It is expected that admission will become effective and dealings in the Placing Shares will commence on Aquis at 8.00 a.m. on or around 28 April 2026.

The Placing Shares and Subscription Shares will be issued fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.

The Company has also agreed with a professional adviser to pay an outstanding amount of £15,000 in ordinary shares in lieu of cash, equating to 1,000,000 ordinary shares, at 1.5 pence per share. The Company has also agreed with consultants to pay an outstanding amount of £8,750 in ordinary shares in lieu of cash, equating to 585,333 ordinary shares, at 1.5 pence per share (together "Fee Shares").

The Company also announces that it has commenced discussions with potential NOMAD firms regarding moving its listing to the AIM Market of the London Stock Exchange.

Total Voting Rights

Following Admission of the Fundraising Shares, the Consideration Shares and the Fee Shares, the total number of Ordinary Shares of £0.0001 in issue with full voting rights will be 73,179,342. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The Directors of the Company accept responsibility for the contents of this announcement.

For media inquiries, please contact:

Enquiries:

Company:

Rolf Gerritsen

+44 20383 87621

Clear Capital Markets Limited

Broker

Bob Roberts

+44 (0) 20 3869 6080

AlbR Capital Limited:

Corporate Adviser:

+ 44 (0) 20 7469 0930

Joint Corporate Broker:

+44 (0) 20 7220 9797