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15 October 2026 This announcement contains inside information . Kenmare Resources plc ( " Kenmare " or the " Company " or the " Group " ) Q3 2026 Production Report Kenmare Resources plc ( LSE : KMR , ISE : KMR ) , one of the leading global producers of titanium minerals and zircon , which operates the Moma Titanium Minerals Mine ( the " Mine " or " Moma " ) in northern Mozambique , provides the following trading update for the quarter ended 30 September 2026 ( " Q3 2026 ” ) . Statement from Tom Hickey , Managing Director : " Ilmenite production strengthened materially in Q3 2026 , rising almost 60 % compared to Q2 , due to increased excavated ore volumes at all three Wet Concentrator Plants ( WCPs ) . However , due to the continuing commissioning challenges at WCP A , we now expect ilmenite production in 2026 to be 710,000 to 750,000 tonnes , compared to approximately 800,000 tonnes , as previously guided . We also expect 2026 shipments to be slightly lower than guidance at approximately 1.05 million tonnes . During the period we completed a Pre - Feasibility Study to investigate the potential to realise greater value from the rare earth elements within the Moma deposit . We are now commencing a Definitive Feasibility Study , in conjunction with ongoing commercial discussions with potential offtake partners . Although weak market conditions persisted in Q3 , our average received price increased quarter - on - quarter , due to a higher value ilmenite product mix . We also continue to see improvement in the zircon market . As announced on 6 October 2026 , Kenmare has received a possible offer for the Company from International Resources Holdings ( IRH ) . Discussions with IRH are ongoing and we will provide further information to the market in due course . Securing the renewal of Moma's Implementation Agreement remains a key priority and we are focused on a near- term conclusion of this process . " Q3 2026 overview • Zero Lost Time Injuries ( “ LTIS " ) in Q3 2026 and a Lost Time Injury Frequency Rate ( " LTIFR " ) of 0.06 per 200,000 hours worked for the 12 months to 30 September 2026 ( 30 September 2025 : 0.02 ) • Ilmenite production in 2026 is expected to be 710,000 to 750,000 tonnes , compared to approximately 800,000 tonnes , as previously guided , and shipments are expected to be slightly lower than guidance at approximately 1.05 million tonnes due primarily to delays at other ports during Q3 limiting vessel loading time at Moma • Heavy Mineral Concentrate ( " HMC " ) production of 334,100 tonnes in Q3 2026 , up 12 % year - on - year ( " YoY " ) , due to a 22 % increase in excavated ore volumes , and improved recoveries as a result of the new WCP A desliming plant , partly offset by a 12 % fall in ore grades • Ilmenite production of 233,600 tonnes in Q3 2026 , up 12 % YoY and 59 % quarter - on - quarter ( “ QoQ ” ) , and primary zircon production of 13,000 tonnes , up 6 % YoY , due to a 19 % increase in HMC processed • Total shipments of finished products of 242,900 tonnes , up 7 % YoY , although below the run rate required to achieve the previous shipments guidance of over 1.1 million tonnes • Improvements made to dredge performance at WCP A during Q3 - nameplate capacity of 3,500 tonnes per hour ( “ tph ” ) is expected to be consistently achieved in H1 2027 • Pre - Feasibility Study ( " PFS " ) completed indicating potential to realise significant additional value from Moma's monazite , a mineral that contains rare earth elements • Ilmenite market conditions remained challenging in Q3 , although the zircon market continued to tighten • Kenmare continued to engage constructively with the Government of Mozambique regarding the extension of Moma's Implementation Agreement ( " IA " ) in Q3 - Kenmare remains focused on bringing these discussions to a positive conclusion in the near - term • As announced on 6 October 2026 , Kenmare has received a non - binding proposal from International Resources Holdings RSC Ltd ( “ IRH ” ) regarding a possible cash offer for the Company