Kenmare Resources Plc · LSE:KMR
Kenmare Resources — Swiss Mining Institute conference 2025
15 slides from Kenmare Resources's conference presentation, Nov 20, 2025
Slide 1: Transforming Resources into Opportunity for All
TRANSFORMING RESOURCES INTO OPPORTUNITY FOR ALL Swiss Mining Institute conference 20-21 November 2025
Slide 2: Disclaimer
Disclaimer This Presentation(the “Presentation”)has been This Presentationdoes not constituteor formpart In particular, certain statements in this preparedand issued by Kenmare Resources plc of, and should not be construed as, an offer, Presentationrelating to future financials,results, (the “Compan
Slide 3: Established producer, consistent cash generation
Established producer, consistent cash generation Overview: Kenmare Resources plc The MomaTitanium Minerals Mine in Mozambique ➢ Track record of 18 years of production, with ~40 years in Mozambique ➢ >100 years of Mineral Resources at current production rate Trusted corporate citizen ➢ Meaningful con
Slide 4: 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) World GDP vs TiO2 pigment consumption1 ➢ TiO2 pigment imparts whiteness and opacity in the manufacture of paints, plasti
Slide 5: Market leadership built on a robust strategy
Market leadership built on a robust strategy Strategic priorities andrecentperformance OPERATE RESPONSIBLY • >$23m invested into community initiatives since 2004 97% • Low Lost Time Injury Frequency MOZAMBICAN 1 Rate (0.02 per 200k hours worked) WORKFORCE • Consistent low-cost industry DELIVER LONG
Slide 6: Sustainability is central to Kenmare's business
Sustainability is central to Kenmare’s business Overview of Kenmare’s approach to sustainability and highlights • Strong safety culture focused on theTrabalho “ Seguro” (“Safe Work”) campaign Safe and engaged workforce • Largest employer in Nampula province – committed to local and national hiring •
Slide 7: Sustained cash flow generation
Sustained cash flow generation H1 2025 financial highlights Average price received ($/t) Total revenue ($m) H1 2025 dividend Net debt at 30 June 486 331 429 412 425 389 243 250 323 326 197 216 USc10.0/sh $85.1m 165 168 (H1 2024: (31 Dec 2024: USc15.0/sh) $25.0m) H1 H2 H1 H2 H1 H2 H1 H1 H2 H1 H2 H1 H
Slide 8: >$300m shareholder returns since 2019
>$300m shareholder returns since 2019 Overview of Kenmare’s shareholder returns profile and interim dividend Shareholder returns ($m) Total 2025 interim dividend 120 100 $8.9m 80 82.7 60 30 2025 interim dividend/share 40 51.5 50 USc10.0 20 0 9 11 32.1 28.6 8.9 2019 2020 2021 2022 2023 2024 H1'25 Div
Slide 9: A globally significant titanium minerals mine
A globally significant titanium minerals mine MomaMine operatingschematic Low cost, bulk mining operation Low environmentalimpact ➢ Well- established operation– in production since 2007 ➢ Primarilyhydro-generated electricity (>90% of electrical ➢ >14Mt ilmenite production to date requirements) ➢ >1M
Slide 10: Securing future production at Moma
Securing future production at Moma Kenmare is upgrading its largest mining plant ahead of its transition to a new large ore zone Upgraded Wet Concentrator Plant A Mineral Resource by ore zone (THM1) Nataka Namalope 71% 3% Mpuitine 9 billion 5% tonnes Pilivili 3% Quinga North Mualadi 1% Marrua 12% Co
Slide 11: WCP A expected to be at full capacity by year-end
WCP A expected to be at full capacity by year-end Timeline for WCP A upgrade project for the remainder of 2025 Upgraded WCP A is fully Safe beach landing of two new Connection of new equipment completed, commissioned and producing ✓ dredges at Moma with commissioning underway ✓ at capacity Q3 2025 Q
Slide 12: WCP A project substantially de-risked
WCP A project substantially de-risked Rate of spend on WCP A project will decline rapidly post year -end 2025 WCP A project capital expenditure ($m) ➢ Capital cost estimate for WCP A upgrade and transition to Nataka remains at $341m 100 ➢ 80% of total spend expected to be complete by year-end 2025,
Slide 13: Challenging markets but Kenmare is well-placed
Challenging markets but Kenmare is well-placed Subdued demand and increased supply have led to softer market conditions Weaker global demand for titanium minerals Chinese titanium concentrates imports (Mt)1 ➢ Demand for Kenmare’s products was stable in Q3, but softer end 2.0 markets (e.g. constructi
Slide 14: Transforming resources into opportunity for all
Transforming resources into opportunity for all Delivering Kenmare’s purpose Resilient long-term production profile Consistent low-cost industry position • One of the world’s largest titanium minerals deposits • H1 2025 underlying EBITDA margin of30% • >100 years of Mineral Resources at current prod
Slide 15: Contact us
New school classrooms built by KMAD in Naholoco village Contact us Katharine Sutton Investor Relations +353 1 671 0411 ir@kenmareresources.com Follow us A white x on a black background Description automatically generated
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