Slide 1: 2024 Site Visit Presentation
>» KENMARE RESPONSIBLY MEETING GLOBAL DEMAND FOR 2024 Site Visit Presentation 1-2 February 2024
Slide 2: Disclaimer
Disclaimer » This Presentation (the “Presentation”) has been prepared and issued by Kenmare Resources plc (the “Company” or “Kenmare”). While this Presentation has been prepared in good faith, the Company and its respective officers, employees, agents and representatives expressly disclaim any and _
Slide 3: Introduction and capital projects update
— : B Introduction wh *. ge Michael Carvill, Managing Director & r : . Capital projects update ~~. < Ben Baxter, Chief Operations Office: a Questions? Kenmare Resources — 2024 Site Visit Presentation
Slide 4: Moma Mine Mozambique
➢ ➢ ➢ ➢ Moma Mine ➢ ➢ Mozambique ➢ Moma Mine ➢ ➢
Slide 5: Creating sustainable competitive advantage
Creating sustainable competitive advantage >» Strategic priorities and H1/FY 2023 performance Safe and engaged workforce 0.1 5 : Heatthy natural environment LOSTTIMEINJURY ¢ Trusted business FREQUENCY RATE! - AREA OF FOCUS * >100 years of Mineral Resources, $ significant growth potential 1 1 0 m LOW
Slide 6: Shareholder returns of over $230m since 2019
Shareholder returns of over $230m since 2019 > Overview of dividends and share buy-backs Dividends (USc/ re) Interim & Final 2019 2020 2021 2022 2023 > Nine dividends paid and two share buy-backs completed since dividend policy established in 2018 > Target dividend payout ratio of 20-40% underlying
Slide 7: Long-term product fundamentals remain strong
Long-term product fundamentals remain strong > Overview of titanium feedstocks industry and outlook “H12023 product prices (FOB $/t) : Supply/demand balance (‘000 Ti02 units) , 500 2000 10,000 ° S 3) 400 Go = 1500 & 8 300 ee a ‘000 8 8,000 ce a g 700 5 6,000 5 100 500 g a N S fe) (0) 4,000 2 2eeeggk
Slide 8: Sustainability
Sustainability ») KENMARE Regina Macuacua, Deputy Country Manager
Slide 9: Sustainability goals advanced in 2023
Sustainability goals advanced in 2023 > Four strategic sustainability focus areas * 2million hours worked without a Lost Time Injury milestone achieved in December 2023 * Leadership coaching development programme completed, now focusing on full role delivery Safe and engaged workforce * Three water
Slide 10: 97% Mozambican workforce
97% Mozambican workforce Overview of workforce localisation and diversity Providing employment > Kenmare directly employed 1,684 people at the Moma Mine at the end of 2023 > Of these, 97% are Mozambican and two-thirds are from Nampula province » 85% of management roles at Moma (supervisor and above)
Slide 11: KMAD: 2023 highlights
KMAD: 2023 highlights > hird community health centre: : Six' new school blocks 22 new small businesses constructed [ constructed supported -Three water systems installed First graduates from KMAD- f or repaired ' sponsored Technical College 1. Cotocuaneschool block built as part of the Kenmare RAP p
Slide 12: Kenmare Resources plc
» KENMARE RESOURCES PLC Higino Jamisse, Moma Mine General Manager & Ben Baxter, Chief Operations Officer
Slide 13: Two million LTI-free hours worked
Two million LTl-free hours worked Lost Time Injury Frequency Rate (LTIFR) of 0.15 to 31 December 2023 ‘Lost Time Injuries and rolling 12-month LTIFR in 2023 3 03 2 0.21 =2 on 0.15 0.2 oO £ 4 O41 3 ea 0) 0.0 Q12023 Q2 2023 Q3 2023 Q4 2023 mmgLTis ——LTIFR Return to strong safety performance > > > LTIF
Slide 14: Revised 2023 ilmenite production guidance achieved
Revised 2023 ilmenite production guidance achieved > 2023 production review Mining . . > 9% decrease in HMC production vs 2022 due to: HMC production IImenite p >» 4% decrease in ore volumes due to severe lightning strike in 1 448 300t 986 300t Ql and power supply interruptions, impacting operations
Slide 15: 2024 production guidance
2024 production guidance! > 2024 ilmenite production expected to be in line with 2023 2024 Guidance 2023 Actual IImenite tonnes 950,000-1,050,000 986,300 Primary zircon tonnes 45,000-50,000 51,100 Rutile tonnes 8,000-9,000 8,400 Concentrates” tonnes 37,000-41,000 45,700 CS Total cash operating costs
Slide 16: 2024-2026 production outlook
2024-2026 production outlook Active focus on options to strengthen 2024-2026 production 2024 production guidance in line with 2023 production » Due to: > Re-assessment of WCP B grades for 2024, following lower grades mined than expected in 2023 > Changes to mine plan in 2023 following lightning stri
Slide 17: Kenmare Resources plc
» KENMARE RESOURCES PLC Ben Baxter, Chief Operations Officer
Slide 18: Securing future production at Moma
Securing future production at Moma > Overview of Nataka Nataka represents >75% of Kenmare’s Mineral Resources ‘Mineral Resources by ore zone (THM Mt) > WCP Ais the largest of Kenmare’s 3 mining plants, representing >50% of mining capacity 5 Mpitini, 4% > WCP A is to complete its mine path in Namalop
Slide 19: Transforming WCP A's capabilities for Nataka
Transforming WCP A's capabilities for Nataka » WCP A project execution underway Majority of WCP A will be new equipment > > > > Existing dredges replaced with higher capacity dredges — removing the need for dry mining Wet Concentrator Plant upgrades to include desliming, screening and surge bin repl
Slide 20: Optimisation of capital costs underway
Optimisation of capital costs underway > Overview of capital costs for WCP A's transition to Nataka Capital breakdown and implementation dates ' Capex expected to be $316-331m to end of 2026 > Total capital costs for the two new dredges, the desliming circuit and the TSF are estimated at Tailings Ad
Slide 21: WCP B upgrade increases capacity by >40%
WCP B upgrade increases capacity by >40% >» WCP B upgrade overview Robust project economics - WCP B will be upgraded by 1,000tph : » Work ongoing on DFS to upgrade WCP B from 2,400tph to 3,400 tph, a >40% increase » DFS expected to be completed in Q2 2024 > PFS capital cost estimate for this upgrade
Slide 22: Kenmare
>» KENMARE Tom Hickey, Finance Director Jetty with transshipment vessel
Slide 23: Capital projects support 1st quartile margin position
Capital projects support 1° quartile margin position > First quartile position attained in 2021 : Mineral sands industry revenue to cash cost curves - Ny oO FF 1 DN © ——__. <¢ 0% 25% 50% 75% 100% —2013 ——2018 ——2021 > The latest TZMI industry cost analysis puts Kenmare in the first quartile for 2021
Slide 24: Moving forward with confidence
Moving forward with confidence >» Investing in future production to maintain first quartile industry position Resilient long-term production profile Maintaining first quartile industry position » One of the world’s largest titanium minerals deposits with >100 > Nataka DFS completed with the goal of
Slide 25: Questions?
Questions? >» KENMARE
Slide 26: Kenmare Resources plc
» KENMARE RESOURCES PLC
Slide 27: Mineral sands: essential to modern life
Mineral sands: essential to modern life > Demand for Kenmare's products is driven by global GDP growth and urbanisation in emerging markets Titanium feedstocks (ilmenite and rutile) = r " " ar : » TiO, pigment imparts whiteness and opacity in the World GDP vs TiO, pigment consumption manufacture of
Slide 28: A globally significant titanium minerals mine
A globally significant titanium minerals mine > Operating schematic Mining Processing 7 Storage and export Product storage Conveyor Ocean-going warehouse and jetty bulk carrier 1. 2. 3. 4. 5. 6. Evaluation Mining Wet Concentrator Dune Heavy Mineral Wet High Intensity Plant (WCP) Rehabilitation Conce
Slide 29: Simplified mining flowsheet
Simplified mining flowsheet > Kenmare has three mining ponds in production Mining Pond A Mining Pond B Mining Pond C C Supplemental) ) (— >) (— > Dredge 1 Dredge 2 Dry Dredge 3 Dredge 4 Mining Ore Ore Supplemental Dry Mining Wet Wet Wet Concentrator Concentrator Concentrator Plant A Plant B Plant C
Slide 30: Simplified processing flowsheet
Simplified processing flowsheet >» Kenmare processes HMC into four products: ilmenite, rutile, zircon and mineral sands concentrate HMC stockpile Mineral Separation Plant Product warehouse (— >) HMC stockpile Va HMC stockpile HNC stockpile XN S Ne N Wet Dry jon- . . . + . >) Wet circuit >) zircon zi
Slide 31: Record H1 revenue and profits
Record H1 revenue and profits >» H1 2023 income statement H12023 H12022 $ million $ million Mineral product revenue 229.7 182.11 Freight revenue 13.2 15.2 Total Revenue 242.9 197.3 Cost of sales & other operating costs (162.6) (123.3) Operating profit 80.2 74.0 Net finance & foreign exchange cost (2
Slide 32: H1 2023 unit costs reflect lower production volumes
H1 2023 unit costs reflect lower production volumes > Production and unit cost profile 1,600kt $250/t 1,400kt $225/t $200/t 1,200kt a 2 sist S © 1,000kt SI50/t Cc Cc = g00kt sist § =} = 8 600kt $100/t 8 a s75/t 3 400kt S) $50/t 200kt $25/t Okt SO/t FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 H1 2023 @™
Slide 33: H1 2023 total cash operating costs
H1 2023 total cash operating costs > Total cash operating costs breakdown Logistics Logistics & Travel & Travel 5% ( 12% 6% H1 2022 US$102.0m Labour US$108.8m Labour 24% 24% 6% increase due primarily to: > > > > Increased fuel costs ($5.7m), driven by a 5.5% volume increase and a 68% price increase
Slide 34: Follow Kenmare on social media
Follow Kenmare on social media > Facebook, Twitter and LinkedIn SOURCES PLO ® KENMARE « ; > Kenmare has profiles on Facebook, Twitter and LinkedIn, which feature regular updates on our sustainability initiatives, operational and development milestones, news flow and more >» Click the name of the soc
Slide 35: Contact Us
>» KENMARE Contact Us Jeremy Dibb / Katharine Sutton +353 16710411 ir@kenmareresources.com ON