REG-Wet Concentrator Plant A Project Update

Kenmare ResourcesAnnouncement

08/10/2025 07:00

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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
ir@kenmareresources.com
Tel: +353 1 671 0411
Mob: + 353 87 663 0875

Murray (PR advisor)
Paul O’Kane
pokane@murraygroup.ie
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