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ZCCM Investments Holdings Plc

("ZCCM-IH" or the "Company")

Maamba Solar 100MWac PV Project commences commissioning and first power injection into Zambia's national grid

ZCCM Investments Holdings Plc ("ZCCM-IH" or the "Company") is pleased to announce that the 100 MWac Maamba Solar PV Project, developed by Maamba Solar Energy Limited (MSEL), has entered its commissioning phase, with electricity injected into the national grid for the first time on 24 September 2026.

MSEL is a joint venture in which ZCCM-IH holds a 35% equity interest, with the remaining 65% held by Nava Global PTE Limited, the international arm of India-listed Nava Limited. The project is located in Maamba, Sinazongwe District, Southern Province, alongside the existing Maamba thermal power operations.

Project highlights

·    100 MWac utility-scale solar photovoltaic facility, one of the largest of its kind in Zambia.

·    Bifacial PV modules mounted on single-axis trackers, which follow the sun through the day to maximise energy yield.

·    Dedicated 330 kV substation and grid-interconnection infrastructure.

·    Output contracted to ZESCO Limited under a 20-year Power Purchase Agreement, providing long-term, predictable revenue visibility.

·    Total project investment of approximately US$90 million.

Next steps

Commissioning activities cover testing and verification of the PV generation system, tracking systems, inverters, medium-voltage collection network, 330 kV substation, protection and control, metering, SCADA and communication systems, and grid-interconnection facilities. These are being carried out in line with applicable technical standards, grid codes, contractual obligations and regulatory requirements.

The project will now progress through synchronisation, testing, reliability and performance verification, including confirmation of the plant's response to grid requirements, ahead of full commercial operation. ZCCM-IH will update shareholders and the market on further key milestones.

Commenting on the milestone, ZCCM-IH Chief Executive Officer, Mr. Kakenenwa Muyangwa, said:

"The first injection of power from the Maamba Solar PV Project could not have come at a more important time. With Zambia bracing for the impending El Niño and the pressure it is expected to place on hydropower generation, 100 megawatts of solar capacity is a direct and timely response to the country's energy security needs. Just as importantly, this project strengthens the diversification of Zambia's energy mix, reducing our reliance on a single source and building resilience into the national grid.

As a sovereign-anchored investor, ZCCM-IH is proud to play its part in Zambia's energy transformation. Our investment in MSEL reflects our commitment to deploying capital into strategic energy projects that will underpin the country's economic growth, support the Grow Zambia agenda, and contribute to the national ambition of achieving 10,000 MW of electricity generation capacity. We will continue to work closely with our partners to bring more reliable, clean power to the grid-creating lasting value for our shareholders, supporting industry, and contributing to the prosperity of the Zambian people."

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