Slide 1: Q1 2026 Production Update
Transforming resources into opportunity for all Q1 2026 Production Update 22 April 2026
Slide 2: Disclaimer
Disclaimer This Presentation (the “Presentation”) has been This Presentation does not constitute or form part statements in this Presentation relating to future prepared and issued by Kenmare Resources plc of, and should not be construed as, an offer, financials, results, plans and expectations (the
Slide 3: Established producer, long mine life
Established producer, long mine life Overview: Kenmare Resources plc The Moma Titanium Minerals Mine in Mozambique Track record of ~20 years of production, with ~40 years in Mozambique >100 years of Mineral Resources at current production rate Trusted corporate citizen Meaningful contribution
Slide 4: A challenging quarter but a brighter outlook
A challenging quarter but a brighter outlook Overview of Q1 2026 Solid shipments, with significant destocking, but soft production Kenmare sold ~100kt of its stockpiles in Q1, in line with its plan to unlock value Production impacted by WCP A debottlenecking, however it is expected to strengthen
Slide 5: Q1 shipments at run rate of annual guidance
Q1 shipments at run rate of annual guidance Q1 2026 production review Mining Reduced HMC production due to: HMC Ilmenite Lower excavated ore volumes relating to WCP A 217,200t 125,900t debottlenecking Lower ore grades as WCP A approaches the end of its -30% -38% Namalope mine path Q1 2025: 312
Slide 6: Encouraging progress made at WCP A in Q1
Encouraging progress made at WCP A in Q1 Status update on the WCP A upgrade project New high-capacity dredges All major construction and installation work is now complete The rate of capital expenditure has decreased substantially, as planned Rectification measures undertaken in Q1 A range of lo
Slide 7: Tighter market conditions expected from Q2
Tighter market conditions expected from Q2 Q1 2026 review and Q2 2026 outlook A soft Q1 but oversupply beginning to reduce Chinese chloride pigment production (Mt)1 The titanium feedstock market continued to weaken in Q1 2026 800 Significant decrease in Kenmare’s average ilmenite price received
Slide 8: Transforming resources into opportunity for all
Transforming resources into opportunity for all Delivering Kenmare’s purpose Resilient long-term production profile Consistent Consistentlow-cost low-costindustry industryposition position • One of the world’s largest titanium minerals deposits • Consistent record of operating cashflow generation •
Slide 9: Contact us
Contact us Katharine Sutton / David Weeks Investor Relations +353 1 671 0411 ir@kenmareresources.com Follow us Wet Concentrator Plant A