Further Cautionary Announcement

SENS ANNOUNCEMENT

(the "Notice" or "Announcement")

ZCCM INVESTMENTS HOLDINGS PLC ("ZCCM-IH")

[Incorporated in the Republic of Zambia]

Company registration number: 119540000771

Share Code: ZCCM-IH

ISIN: ZM0000000037

Authorized by: Charles Mjumphi - Company Secretary

Stockbrokers Zambia Limited

[Founder Member of the Lusaka Securities Exchange]

[Regulated and licensed by the Securities and Exchange Commission of Zambia]

Contact Number: +260-211-232456

Website: www.sbz.com.zm

The captioned Notice or Announcement has been approved by:

i. the Lusaka Securities Exchange ("LuSE")

ii. the Securities and Exchange Commission ("SEC")

iii. ZCCM Investments Holdings Plc

The Notice or Announcement contained herein contains information that may be of a price-sensitive nature.

ZCCM INVESTMENTS HOLDINGS PLC

[Incorporated in the Republic of Zambia]

Company registration number: 771

Share Code: ZCCM-IH

ISIN: ZM0000000037

["ZCCM-IH" or "the Company"]

Confidential Arbitration Proceedings between Trafigura Pte Limited ("Trafigura") and ZCCM Investments Holdings Plc ("ZCCM-IH" or "the Company")

Further to the cautionary announcement dated 31 March 2025 issued by ZCCM-IH in relation to arbitration proceedings instituted by Trafigura in February 2024 under the London Court of International Arbitration Rules 2020, ZCCM-IH announces that it has received a copy of the Partial Final Award from the Tribunal dated 16 December 2025 (the "Award").

The Tribunal has ordered that:

a) The guarantee in favour of Trafigura dated 28 July 2021 (the "Guarantee"), under which Trafigura brings its claim in the arbitration, is binding on ZCCM-IH.

b) Within 6 weeks of the Award being issued, ZCCM-IH should serve a submission, along with such evidence in support as it considers relevant, identifying any

specific elements of the principal sum of USD 82,807,254.68 claimed by

Trafigura that it submits are unsustainable and setting out in any such instance the reason(s) therefor.

c) Within 3 weeks thereafter, Trafigura should serve a submission in response to that of ZCCM-IH along with any such additional evidence in support as it considers necessary.

d) Issues of quantum will be heard by the Tribunal at a hearing over 1 day on the first available date after service of the submissions referred to in (b) and (c) above.

The Company is actively evaluating its legal options regarding the Partial Award and remains committed to safeguarding shareholder interests. Further updates will be provided as the matter progresses.

Accordingly, shareholders of ZCCM-IH and members of the investing public are advised to exercise caution when dealing in securities of the ZCCM-IH until further information is published. They should obtain independent professional advice if they have any queries or concerns about any of the contents or subject matter of this announcement. 

By Order of the Board

Charles Mjumphi

Company Secretary

Issued in Lusaka, Zambia on 23 January 2026