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19 August 2026 Kenmare Resources plc ( " Kenmare ” or the “ Company ” or the “ Group ” ) Half - Yearly Financial Report for the six months to 30 June 2026 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 , today publishes its Half - Yearly Financial Report for the six - month period ended 30 June 2026 ( “ H1 2026 " ) . Statement from Tom Hickey , Managing Director : " Weak market conditions for our products , combined with the slower than expected commissioning of Wet Concentrator Plant ( WCP ) A , continued to impact Kenmare's financial performance in H1 2026. However , with a strengthening zircon market and the capital expenditure for the WCP A upgrade project now substantially complete , the outlook is slightly improved . As we progress further into Q3 , Kenmare remains on track to achieve its 2026 shipments guidance , which is our key metric for the year . We expect to achieve our annual operating and capital cost guidance , although softer than expected ilmenite production in H1 led us to moderate our 2026 guidance to approximately 800,000 tonnes , instead of more than 800,000 tonnes previously . Pleasingly , production has improved in July and early August , due to a strong performance by WCP B and steady progress at WCP A. Although the average price received for our products declined in H1 , demand for Kenmare's products remains stable , with a healthy order book for Q3 . We continued to engage constructively with the Government of Mozambique regarding Moma's Implementation Agreement during H1 , with significant progress made over recent weeks on key issues . " H1 2026 overview Financials and markets • Mineral product revenue of $ 134.5 million in H1 2026 , down 16 % year - on - year ( “ YoY ” ) , primarily due to a lower average price received as a result of weak product markets • EBITDA of $ 4.4 million ( H1 2025 : adjusted EBITDA of $ 47.2 million excluding the $ 100.3 million impairment charge at 30 June 2025 ) and loss after tax of $ 34.1 million ( H1 2025 : adjusted profit after tax of $ 6.1 million ) due primarily to lower product pricing • Cash operating cost of $ 255 per tonne of finished product , up 3 % YoY , due to a 14 % decrease in production of finished products , largely offset by a 12 % decrease in total cash operating costs • Cash operating cost per tonne of ilmenite ( net of co - products ) of $ 226 , up 7 % YoY , due primarily to a 39 % decrease in ilmenite production Revolving Credit Facility ( " RCF " ) upsized by $ 30 million to $ 230 million , which , along with adjustments to financial covenants , provides important additional financial flexibility • At the end of H1 2026 , net debt was $ 175.8 million ( 31 December 2025 : $ 158.8 million ) , with strong receipts recorded post - period - end • Market conditions continued to be challenging in H1 , although the zircon market strengthened – Kenmare has a healthy order book for Q3 and a high proportion of contracted shipments , giving good sales visibility Corporate and operations • Zero Lost Time Injuries ( “ LTIs ” ) incurred in H1 2026 , delivering a Lost Time Injury Frequency Rate ( " LTIFR " ) of 0.08 per 200,000 hours worked for the 12 months to 30 June 2026 • Kenmare reiterates its 2026 guidance for shipments , operating costs and capital costs , although ilmenite production is expected to be approximately 800,000 tonnes , instead of at least 800,000 tonnes , as announced in the Q2 and H1 Production Update • Heavy Mineral Concentrate ( " HMC ” ) production in H1 was 442,200 tonnes , down 34 % YoY , due primarily to a 26 % decrease in ore grades , as forecast , largely reflecting Wet Concentrator Plant ( " WCP " ) A approaching the end of its Namalope mine path