ABRIDGED COMPANY STATEMENT OF FINANCIAL POSITION FOR THE SIX-MONTH PERIOD ENDED 30TH JUNE 2026

ABRIDGED GROUP STATEMENT OF CASH FLOWS FOR THE SIX-MONTH PERIOD ENDED 30TH JUNE 2026

ABRIDGED COMPANY STATEMENT OF CASH FLOWS FOR THE SIX-MONTH PERIOD ENDED 30TH JUNE 2026

ABRIDGED GROUP STATEMENT OF CHANGES IN EQUITY

ABRIDGED COMPANY STATEMENT OF CHANGES IN EQUITY

1.    FINANCIAL PERFORMANCE HIGHLIGHTS

The first half of 2026 was marked by continued strategic repositioning and tangible progress for ZCCM Investments Holdings Plc (ZCCM-IH). For the period ended 30 June 2026, both the Group and the Company achieved key milestones that underscore the ongoing transformation of ZCCM-IH into a commercially driven, value-oriented investment holding company.

Group Financial Overview

For the six-month period ended 30 June 2026, the Group recorded a net loss of ZMW 89.86 million (US$4.77 million), compared with a net loss of ZMW 852.86 million (US$31.25 million) recorded in the corresponding period in 2025. The significant improvement in performance was primarily driven by an increase in the Group's share of profit from equity-accounted investees, which rose to ZMW 370.49 million (US$19.66 million), compared with a loss of ZMW 129.43 million (US$4.74 million) in the prior-year period.

Despite the improvement in the Group's overall performance, the net loss for the period was primarily attributable to the following factors:

·    Share of loss from Mopani: The Group recognised a share of loss from Mopani amounting to ZMW 536 million (US$28.5 million), as the business continues to undergo recapitalisation and has yet to reach optimal operating levels.

·    Foreign exchange movements: The 5.6% appreciation of the Zambian Kwacha during the period contributed to foreign exchange losses recognised at Group level, particularly on foreign-currency-denominated assets and liabilities.

Total Group assets declined to ZMW 39.39 billion (US$2.17 billion), compared with ZMW 55.83 billion (US$2.33 billion) as at June 2025. The reduction was primarily attributable to the appreciation of the Zambian Kwacha and the resulting revaluation of foreign-currency-denominated assets.

Cash and cash equivalents at the Group level increased to ZMW 355.95 million (US$19.63 million), from ZMW 321.52 million (US$11.79 million) in the corresponding period of 2025.

At the Company level, ZCCM-IH recorded a net profit of ZMW 30.72 million (US$1.63 million), representing a significant improvement from the net loss of ZMW 197.68 million (US$7.24 million) recorded in 2025. The improved result reflects greater operational stability and continued cost discipline and was primarily driven by dividend income received from Maamba and Kansanshi, amounting to ZMW 657.75 million (US$33.67 million).

Total Company assets decreased from ZMW 69.20 billion (US$2.89 billion) in 2025 to ZMW 57.61 billion (US$3.18 billion) in 2026. Despite the reduction in total assets, Company-level cash and cash equivalents increased to ZMW 266.97 million (US$14.72 million), from ZMW 191.01 million (US$7.97 million) in the corresponding period of 2025.

On the liabilities side, both the Group and the Company recorded reductions following the full settlement of the US$74.71 million Glencore loan during the period.

2.    KEY OPERATIONS AND STRATEGIC UPDATES

(I)    Kyalo Goldfields Limited

On 6 May 2026, ZCCM-IH, in partnership with Mining Mineral Resources SAS ("MMR"), incorporated Kyalo Goldfields Limited ("KGL") as a special purpose vehicle established to undertake gold exploration, development, and mining activities within the Kikonge Mining Area in the Northwestern Province of Zambia.

ZCCM-IH holds a controlling 51% equity interest in KGL, while MMR holds the remaining 49%. The investment provides the Group with strategic exposure to gold as a portfolio diversifier and a potential natural hedge against commodity price volatility.

KGL has been mandated to operate across the full gold mining value chain, including exploration, financing of artisanal mining activities, mine development, mineral processing, and gold production. The investment represents a strategic expansion of the Group's precious metals portfolio, strengthens commodity diversification, and creates potential for long-term value creation through exposure to a globally significant asset class.

(II)   Ndola Lime (2026) Limited

On 26 May 2026, ZCCM-IH entered into a joint venture agreement with Wonderful Group of Companies Limited to establish Ndola Lime (2026) Limited. The partnership is intended to unlock value from a previously underperforming limestone asset and is structured with Wonderful Group holding a 55% equity interest and ZCCM-IH holding 45%.

The joint venture will seek to restore and modernise Zambia's lime and cement production capacity through a phased development programme. The first phase will comprise a 600-tonne-per-day lime plant, followed by an expansion of lime and cement production capacity.

Wonderful Group will invest US$30 million through equity and shareholder funding, while ZCCM-IH will contribute strategic assets and facilitate the settlement of legacy obligations arising from Limestone Resources Limited.

By leveraging modern technology, operational expertise, and enhanced market access, the partnership is expected to improve production reliability, strengthen competitiveness, and establish a sustainable industrial platform that delivers long-term value to ZCCM-IH shareholders while advancing the Group's diversification strategy.

(III)  Sino Great Chemical Company Limited

Sino Great Chemical Company Limited ("Sino Great") is a joint venture between ZCCM-IH and Wonderful Group, with respective shareholdings of 30% and 70%. The project involves the development of a beneficiation plant at the Chilanga site, with construction progressing in accordance with the approved implementation schedule.

To date, the majority of foundation works have been completed, while the vertical construction phase of the civil infrastructure is underway.

Mine development activities have also commenced following the conclusion of the latest farming season, in accordance with agreements reached with the local traditional leadership.

Overall, the project remains on track, with plant commissioning targeted for the fourth quarter of 2027.

(IV) Ever Great Energy Company Limited

On 1 June 2026, ZCCM-IH entered into a strategic partnership with Wonderful Group Services Limited ("WGS") to develop a 2 X 300 MW coal-fired thermal power project through a special purpose vehicle, Ever Great Energy Company Limited ("Ever Great"). The project forms part of Ever Great's long-term ambition to develop up to 900 MW of thermal power generation capacity in Zambia.

Under the transaction, ZCCM-IH will invest approximately US$54.2 million in exchange for a 30% equity interest in Ever Great. With an estimated project cost of US$451.7 million, the development will comprise a coal mine in Southern Province, a 300 MW thermal power plant in Sinazongwe District, and associated transmission infrastructure connecting the plant to the Muzuma Substation in Choma.

The project will be executed on a turnkey Engineering, Procurement and Construction ("EPC") basis by Ziquan Group (Singapore) Pte Limited.

The investment strengthens ZCCM-IH's energy portfolio and supports Zambia's energy security agenda by contributing to efforts to address the country's baseload power deficit, diversifying electricity generation beyond hydropower, and providing reliable power to support economic growth and the continued expansion of the mining sector.

3.    OUTLOOK

ZCCM-IH will continue to position itself to capitalise on profitable and sustainable investment opportunities, primarily within the mining and energy sectors. This approach aligns with the Group's strategy, which remains focused on investments in mining, energy, and related sectors while maintaining disciplined capital allocation and a strong focus on long-term value creation.

Operational Turnaround

Continue to implement and monitor recovery plans for Mopani, Konkola Copper Mines Plc (KCM), and Lubambe Copper Mines Plc, with the objective of increasing copper and other mineral production, improving operational efficiencies, and strengthening the financial performance of these investments.

Strategic Projects

Accelerate the development of the Sino-Great Integrated Phosphate Fertiliser Project by progressing key technical, regulatory, and funding milestones.

Energy Expansion

Advance key implementation milestones for the Ever Great energy project, reinforcing ZCCM-IH's role in supporting national energy security and long-term infrastructure development.

Focused Capital Allocation

Pursue the divestment of non-core holdings in non-mining and non-energy sectors in order to reinforce investment discipline and reallocate capital towards high-impact, sustainable, and strategically aligned projects.

Sustainability Leadership

Operationalise the newly established Risk, Compliance and Environmental, Social and Governance (ESG) Committee and strengthen the integration of ESG principles and practices across the Group.

Governance Excellence

Deepen the implementation of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) 2013 Internal Control Framework across the Group, while further embedding ESG metrics and practices into operational, strategic, and investment decision-making processes.

By Order of the Board

Charles Mjumphi

Company Secretary

Ends

About ZCCM Investments Holdings Plc

ZCCM Investments Holdings PLC is a premier diversified mining investments and operations company with a primary listing under ISIN number ZM0000000037 on the Lusaka Securities Exchange in Zambia, and secondary listings on the London Stock Exchange and the Euronext Access Exchange in Paris.

For more information, visit: https://www.zccm-ih.com.zm

APPENDICES

US DOLLAR ABRIDGED GROUP STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

US DOLLAR ABRIDGED COMPANY STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

DOLLAR ABRIDGED GROUP STATEMENT OF FINANCIAL POSITION FOR THE SIX MONTHS PERIOD ENDED 30TH JUNE 2026

US DOLLAR ABRIDGED COMPANY STATEMENT OF FINANCIAL POSITION FOR THE SIX MONTHS PERIOD ENDED 30TH JUNE 2026