Kenmare Resources plc
(“Kenmare” or “the Company” or “the Group”)

8 October 2025

Wet Concentrator Plant A Project Update

Kenmare Resources plc (LSE: KMR, ISE: KMR), one of the leading global producers of titanium minerals and zircon, which operates the Moma Titanium Minerals Mine (the "Mine" or "Moma") in northern Mozambique, provides an update on its Wet Concentrator Plant (“WCP”) A upgrade project.

Statement from Ben Baxter, Chief Operations Officer:

“I am pleased to announce that the two new dredges and the new feed preparation unit have been successfully connected to WCP A and the commissioning process commenced on 2 October. The commissioning and production process is expected to ramp up through Q4, as the new equipment and process changes are progressively brought to design capacity.

The scheduled production pause was within our expected timeframe of three to four weeks and was accounted for in our 2025 production guidance, which we remain on track to achieve. This upgrade work required detailed engineering and project management, with substantial prior planning, and it was completed while maintaining exceptional safety performance. We look forward to WCP A being fully ramped up to its increased capacity by year-end, with WCP A now fully equipped to successfully mine in the large Nataka ore zone, which is the key to Moma’s future production.”

Overview of WCP A upgrade project

Kenmare has upgraded its largest mining plant, WCP A, ahead of its transition to the Nataka ore zone. Nataka is the largest ore zone in Moma’s portfolio, representing approximately 70% of its Mineral Resources, and the transition to Nataka will secure Kenmare’s production for decades to come. WCP A will mine in Nataka for the remainder of its economic life, which is expected to exceed 20 years.

Mining conditions in Nataka are different to Namalope, where WCP A is mining currently. The ore contains higher levels of slimes (ultra fine, clay-like particles), which can impact feed and recovery rates if not properly managed. Kenmare has upgraded WCP A with two new high-capacity dredges and a new feed preparation module, including an upfront desliming circuit, to effectively manage slimes and increase mining rates, with the objective of delivering consistently stronger Heavy Mineral Concentrate production to its processing operations.

The capital cost estimate of the WCP A upgrade project and transition to Nataka remains at $341 million, including a new Tailings Storage Facility and infrastructure in Nataka.

Kenmare regularly updates its Projects image library with photographs of the WCP A upgrade project. View the latest photographs here: www.kenmareresources.com/media/image-library/projects

Ramp up and transition to Nataka

Commissioning of WCP A commenced on 2 October and production will now start ramping up. WCP A is anticipated to be operating at its nameplate capacity of 3,500 tonnes per hour by the end of 2025. WCP A will complete its mine path in Namalope in Q2 2026 and will begin its transition to Nataka from late Q2 2026, which is expected to take approximately 18 months.

Kenmare plans to announce its Q3 2025 Production Update on 15 October 2025.

For further information, please contact:

Kenmare Resources plc
Katharine Sutton
Investor Relations
[email protected]
Tel: +353 1 671 0411
Mob: + 353 87 663 0875

Murray (PR advisor)
Paul O’Kane
[email protected]
Tel: +353 1 498 0300
Mob: +353 86 609 0221

About Kenmare Resources

Kenmare Resources plc is one of the world's largest producers of titanium minerals. Listed on the London Stock Exchange and the Euronext Dublin, Kenmare operates the Moma Titanium Minerals Mine in Mozambique. Moma's production accounts for approximately 6% of global titanium feedstocks and the Company supplies to customers operating in more than 15 countries. Kenmare produces raw materials that are ultimately consumed in everyday quality-of life items such as paints, plastics and ceramic tiles.

All monetary amounts refer to United States dollars unless otherwise indicated.