Operational Update: Whale Head Minerals

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

3 July 2025

Kazera Global plc

("Kazera" or the "Company")

Operational Update: Whale Head Minerals

Production Process and Product Quality Enhanced

Kazera Global plc, the AIM-quoted investment company, is pleased to provide an operational update on Whale Head Minerals ("WHM"), its heavy mineral sands ("HMS") project in South Africa.

Operations at WHM continue to progress well, with new processing infrastructure now commissioned and product sales continuing under the existing offtake agreement with Fujax South Africa (Pty) Ltd. Interest from a specialist garnet offtake partner further supports the commercial potential of WHM's multi-mineral resource, while additional technology options are being evaluated to support scalable future growth.

Spiral Circuit Installed on Time and on Budget

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Twelve double-stage spirals, used to improve separation efficiency and concentrate quality, have now been successfully installed at the WHM site. Delivered on time and within budget, the spirals represent a key upgrade to the processing plant.

The spirals are currently being fine-tuned to optimise performance. The system has been designed with a removable feed bin, offering flexibility to add additional spirals, sand cyclones, or sluice decks as production requirements evolve.

Initial testing has shown significant improvements in TiO₂ content across the processing stages. The final concentrate is now exceeding the 24% TiO₂ threshold typically required to meet market specifications. Indicative percentages of TiO₂ at the various stages are shown below:

Positive Test Results and Strategic Engagements

WHM is working with two leading mineral processing equipment providers, who are conducting detailed tests to help guide long-term optimisation of the plant. Early results from both have been very positive.

Additionally, a company focused on garnet offtake attended recent tests and has expressed strong interest in the quality of WHM's garnet production. Discussions are now underway regarding a potential partnership, under which the garnet company will supply an additional set of spirals at their own cost to facilitate targeted garnet extraction and the removal of further silica. This would reduce their transport costs while improving the overall quality of WHM's end product.

Low-Cost, Scalable Technology Under Evaluation

WHM is also in discussions with a company offering an innovative sluice-type separation system. Initial trials, particularly in relation to zircon recovery, have been promising. Further laboratory testing is underway, with results expected in the coming weeks.

The system offers high throughput (up to 70 tonnes per hour per unit) and a significantly lower capital cost than traditional spiral installations, making it a potentially valuable option for scalable, cost-efficient expansion in the future.

Outlook: Scalable Foundation in Place

WHM continues to demonstrate its value as both a revenue-generating operation and a platform for future expansion. The Company's mining right application for the adjacent 2A concession remains under review with the Department of Mineral Resources and Energy, and further updates on this process will be provided in due course.

Dennis Edmonds, CEO of Kazera, commented:

"WHM continues to perform strongly, both operationally and commercially. The successful installation of the spiral circuit and growing interest from a specialist garnet partner, highlight the quality and versatility of the resource. With further testing underway and scalable technology options being explored, we believe WHM is well placed to deliver long-term value. The technical success of this project is a very positive indicator of the value of the potential represented by the long-awaited Mining Right over 2A, which has the initial potential to be 34 times bigger than the current project."

**ENDS**

About Kazera Global plc

Kazera is a global investment company focused on leveraging the skills and expertise of its Board of Directors to develop early-stage mineral exploration and development assets towards meaningful cashflow and production. Its three principal investments are as follows:

Alluvial diamond mining through Deep Blue Minerals (Pty) Ltd, Alexander Bay, South Africa

Kazera currently has a 100% direct interest in Deep Blue Minerals, of which 74% is held beneficially by Kazera and 26% is held on behalf of Black Economic Empowerment partners.

Heavy Mineral Sands mining (including ilmenite, monazite, rutile, and zircon) through Whale Head Minerals (Pty) Ltd, Alexander Bay, South Africa.

Kazera currently has a 70% direct beneficial interest in Whale Head Minerals together with the benefit of a loan facility entitling it to receive approximately £38m out of dividends from the other shareholders.

Tantalite mining in South-East Namibia (divestment in progress)

As announced on 20 December 2022, Kazera agreed to dispose of African Tantalum (Pty) Ltd ("Aftan") for a cash consideration of US$13 million plus a debenture payment of 2.5% of the gross sales of produced lithium and tantalum for life-of-mine. Completion of the sale was subject to receipt of full consideration proceeds. Aftan was deconsolidated from the Company's financial statements with effect from 4 January 2023 because, in accordance with the terms of the sale agreement, it had relinquished control of Aftan in favour of the purchaser, Hebei Xinjian Construction Close Corp ("Hebei Xinjian") with effect from that date. Kazera retained the right to cancel the transaction and retain all amounts paid to date in the event of default by Hebei Xinjian. Following default by Hebei Xinjian, Kazera initiated legal proceedings in September 2024, which have now concluded in Kazera's favour with an arbitration award exceeding US$11.9 million, including interest, plus coverage of legal costs. Kazera is now assessing the most effective legal and commercially beneficial avenues to enforce the award and recover the full amount due.

The Company will consider additional investment opportunities as appropriate, having regard to the Group's future cash flow requirements.