No intention to make an offer - Kenmare Resources

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

THIS IS AN ANNOUNCEMENT UNDER RULE 2.8 OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER RULES 2022 (THE "IRISH TAKEOVER RULES")

FOR IMMEDIATE RELEASE

No intention to make an offer statement for Kenmare Resources plc.

19 June 2025

Oryx Global Partners Limited and Michael Carvill (together, the "Consortium") confirmed today that it does not intend to make an offer for Kenmare Resources plc. Accordingly, the Consortium will be bound by the restrictions set out in Rule 2.8 of the Irish Takeover Rules. The Consortium reserves the right within the next 6 months to set aside this announcement where so permitted under Rule 2.8 (including 2.8(c)(ii)).

Following a comprehensive due diligence process and after accounting for its findings, the Consortium was unable to reach alignment with Kenmare on its updated valuation and as a result the Consortium has ceased engagement.

Oryx Global Partners remains committed to its strategy of investing in high-quality assets that support the global energy transition and secure critical mineral supply chains and will continue with its measured and disciplined approach to investment selection.

The Consortium wishes Kenmare and its stakeholders every success in delivering the Wet Concentrator Plant A upgrade project and extension of the Implementation Agreement.

For more information, contact:

Camarco:

Gordon Poole

Georgina Whittle

Amrith Uppuluri

[email protected]

Hannam & Partners - Financial Advisor to the Consortium

Andrew Chubb

Vladimir Volodko

[email protected]

Tel: +44 (0) 207 907 8500

IBI Corporate Finance Limited - Financial Advisor to the Consortium

Tom Godfrey ([email protected])

Tel: +353 1 963 1200

About Oryx Global Partners Limited

Oryx Global Partners is a specialist investment firm dedicated to facilitating the energy transition and securing supply chains through strategic investments in the minerals value chain.

The Oryx team, composed of financial, technical, and operational experts with extensive resources and investment management experience, utilises a proven investment process to identify high-quality investments and deliver significant operational value-add.

Oryx is committed to delivering attractive returns to its investors and a net positive impact through its operations. Their responsible and sustainable approach enables Oryx to create lasting value through industry that benefits both its investors and broader stakeholders.

RESPONSIBILITY STATEMENT

Michael Carvill and the directors of Oryx Global Partners Limited accept responsibility for the information contained in this announcement. To the best of their knowledge and belief (having taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.

IMPORTANT NOTICE RELATING TO FINANCIAL ADVISORS

H&P Advisory Ltd ("Hannam & Partners"), which is regulated by the Financial Conduct Authority ("FCA") in the United Kingdom, is acting exclusively for the Consortium and for no one else in connection with the Possible Offer and will not be responsible to anyone other than the Consortium for providing the protections afforded to its clients or for providing advice in connection with the Possible Offer. Neither Hannam & Partners, nor any of its affiliates, owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Hannam & Partners in connection with the Possible Offer, this announcement, any statement contained herein or otherwise.

IBI Corporate Finance Limited ("IBI Corporate Finance"), is acting exclusively as financial adviser to the Consortium and no one else in connection with the Possible Offer and will not be responsible to anyone other than the Consortium for providing the protections afforded to clients of IBI Corporate Finance nor for providing advice in relation to the Potential Offer or any other matters referred to in this Announcement. Neither IBI Corporate Finance nor any of its affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of IBI Corporate Finance in connection with this Announcement, any statement contained herein or otherwise.

FURTHER INFORMATION

This announcement does not constitute an offer to sell or invitation to purchase any securities. The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.

PUBLICATION ON WEBSITE

In accordance with Rule 26.1 of the Takeover Rules, a copy of this announcement will be available at http://offers.ibicorporatefinance.ie promptly and in any event by no later than 12:00 p.m. (Dublin time) on the business day following this announcement. The content of this website is not incorporated into and does not form part of this announcement.