Kenmare Resources Plc · LSE:KMR
Kenmare Resources — Investor Presentation (September 2026)
19 slides from Kenmare Resources's investor presentation, Sep 17, 2026
Slide 1: Yellowstone Advisory Private Investor Evening
Transforming resources into opportunity for all Yellowstone Advisory Private Investor Evening 17 September 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: Introduction to Kenmare
Introduction to Kenmare New classroom built by KMAD for Pilivili village school WCP A dredge operator
Slide 4: 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 5: Market leadership built on a robust strategy
Market leadership built on a robust strategy Strategic priorities and recent performance OPERATE • >$25m invested into community initiatives since 2004 97% OPERATE RESPONSIBLY RESPONSIBLY • Lowest ever All Injury Frequency MOZAMBICAN Rate achieved in H1 2026 WORKFORCE • Consistent low-cost industry
Slide 6: One of the world's largest titanium deposits
One of the world’s largest titanium deposits Moma Mine operating schematic Low cost, bulk mining operation Low environmental impact Mature operation – in production since 2007 Primarily hydro-generated electricity (>90% of electrical Three Wet Concentrator Plants (WCPs) in production, plus req
Slide 7: Sustainability is central to Kenmare's business
Sustainability is central to Kenmare’s business Four strategic sustainability focus areas • Largest employer in Nampula Province - >1,680 direct employees at Moma Safe and engaged workforce • Industry-leading safety performance, with zero Lost Time Injuries in H1 2026 • Kenmare Moma Development Asso
Slide 8: A high-quality shareholder register
A high-quality shareholder register Corporate overview Capital structure Major shareholders3 Listings London Stock Exchange; African Acquisition S.à.r.l. 17.1% Euronext Dublin M&G Plc 14.0% Ticker KMR J O Hambro Capital Management 9.0% Shares outstanding 89,228,161 Aegis Financial Corporation 8.0% M
Slide 9: Kenmare's product markets
Dedicated port facilities Kenmare’s product markets
Slide 10: Mineral sands: essential to modern life
Mineral sands: essential to modern life Demand for Kenmare’s products is driven by global GDP growth and urbanisation in emerging markets World GDP vs TiO2 pigment consumption11 Titanium feedstocks (ilmenite and rutile) World GDP vs TiO2 pigment consumption TiO2 pigment imparts whiteness and opaci
Slide 11: Ilmenite remains weak but zircon recovering in Q2
Ilmenite remains weak but zircon recovering in Q2 H1 2026 markets products review Kenmare’s average price received ($/t) 600 1,800 Average and ilmenite price 500 1,500 Zircon price 400 1,200 300 900 200 600 100 300 0 0 H1 H2 H1 H2 H1 H2 H1 H2 H1 2022 2023 2024 2025 2026 Ilmenite price ($/t) Average
Slide 12: Demand for Kenmare's product remains robust in H2
Demand for Kenmare’s product remains robust in H2 Order book and zircon pricing support H2 outlook Ilmenite Zircon in the MSP storage sheds Titanium feedstocks Positive demand trends continue into Q3 2026, with strong order book Oversupply in the global market is expected to continue to weigh on
Slide 13: H1 2026 review
H1 2026 review Wet Concentrator Plant A
Slide 14: Strong demand for new ZrTi product
Strong demand for new ZrTi product H1 2026 operations review HMC Ilmenite Mining 442,200t 273,100t Reduced Heavy Mineral Concentrate production in H1 due to: -34% -39% Lower WCP A ore grades and reduced excavated ore volumes H1 2025: 670,600t H1 2025: 449,900t due to WCP A commissioning and paus
Slide 15: Financial performance reflects tough conditions
Financial performance reflects tough conditions H1 2026 financial overview Average price received Mineral product revenue Shipments Cash and cash ($/t) ($m) equivalents 412 425 389 243 250 323 326 350 216 242 165 168 160 136 555,600t $31.0m (H1 2025: 488,900t) (31 Dec 2025: $48.6m) H1 H2 H1 H2 H1 H2
Slide 16: Implementation Agreement negotiations ongoing
Implementation Agreement negotiations ongoing Overview of Implementation Agreement (IA) and renewal process Background to IA The IA governs the terms under which Kenmare conducts its processing and export activities, including royalties - it does not impact day-to-day mining operations in any way
Slide 17: Summary
Summary Community plant nursery
Slide 18: 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 19: Contact us
Community water supply system built by KMAD Contact us Katharine Sutton / David Weeks Investor Relations +353 1 671 0411 ir@kenmareresources.com Follow us
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