REG-Pensana Plc: Results of General Meeting

PensanaAnnouncement

09/09/2022 11:00

9 SEPTEMBER 2022

Pensana Plc

("Pensana" or the "Company")

Results of General Meeting

Pensana is pleased to announce that at the General Meeting (GM) held earlier
today both the special resolutions as set out in the Notice of GM dated 23
August 2022 were passed by the requisite majority of votes cast by proxy.

The total number of Pensana ordinary shares (“Shares”) eligible to vote at
the GM is 245,579,249.

The total number of votes cast and the number of votes withheld in respect of
each resolution and the number and percentage of votes for and against each
resolution are as follows:

Special Resolution 1: To disapply pre-emption rights in respect of the issue
of shares to Fundo Soberano de Angola.

 Votes cast  Votes withheld          For              Against      
 72,796,340      11,230      72,653,818 (99.80%)  142,522 (0.20%)  

   

 Special Resolution 2: To disapply pre-emption rights.            
 Votes cast  Votes withheld          For              Against     
 72,796,340      11,230      72,706,382 (99.88%)  89,958 (0.12%)  

-ENDS-

For further information, please contact:

Shareholder/analyst enquiries:

Pensana Plc       

Paul Atherley,
Chairman                                                                
IR@pensana.co.uk 

Tim George, Chief Executive Officer

Rob Kaplan, Chief Financial Officer

George Zacharias, Group Company Secretary

Media enquiries:

FGS Global:

Gordon Simpson / Richard
Crowley                                           
Pensana-LON@fgsglobal.com

About Pensana Plc

The electrification of motive power is by far the most important part of the
energy transition and one of the biggest energy transitions in history. Magnet
metal rare earths are central to the transition away from internal combustion
engines and critical to electric vehicles and offshore wind turbines.

Pensana plans to establish Saltend as an independent and sustainable
processing hub supplying the key magnet metal oxides to a market which is
currently dominated by China. The US$195 million Saltend facility is being
designed to produce 12,500 tonnes per annum of rare earth oxides, of which
4,500–5,000 tonnes will be neodymium and praseodymium (NdPr), representing
over 5% of the world market in 2025.

Pensana’s plug-and-play facility is located within the world-class Saltend
Chemicals Park, a cluster of leading chemicals and renewable energy businesses
in the Humber Freeport and will create over 500 jobs during construction and
over 125 direct jobs once in production.

It will be the first major separation facility to be established in over a
decade and will become one of only three major producers located outside
China.

Pensana is aiming to establish Saltend as an attractive alternative for mining
companies who may otherwise be limited to selling their products to China,
having designed the facility to be easily adapted to cater for a range of rare
earth feedstocks.

www.pensana.co.uk



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