RESPONSIBLY MEETING

GLOBAL DEMAND FOR

QUALITY-OF-LIFE

MINERALS

Investor Presentation

January 2022

Disclaimer

This Presentation (the "Presentation") has been

This Presentation does not constitute or form part

statements in this Presentation relating to future

prepared and issued by Kenmare Resources plc

of, and should not be construed as, an offer,

financials, results, plans and expectations

(the "Company" or "Kenmare"). While this

invitation or inducement to purchase or subscribe

regarding the Company's business, growth and

Presentation has been prepared in good faith, the

for any securities of the Company nor shall it or

profitability, as well as the general economic

Company and its respective officers, employees,

any part of it form the basis of, or be relied upon in

conditions to which the Company is exposed, are

agents and representatives expressly disclaim any

connection with, any contract or investment

forward looking by nature and may be affected by

and all liability for the contents of, or omissions

decision relating to such securities, nor does it

a variety of factors. The Company is under no

from, this Presentation, and for any other written

constitute a recommendation regarding the

obligation to update or keep current the

or oral communication transmitted or made

securities of the Company.

information contained in this Presentation, to

available

to the recipient or

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officers,

This Presentation is as of the date hereof.

This

correct any

inaccuracies which

may

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employees, agents or representatives.

apparent, or

to publicly announce

the

result of

Presentation

includes certain statements,

any revision to the statements made herein and

No representations

or

warranties are or

will be

estimates and

projections

provided

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the

any opinions expressed in the Presentation or in

expressed or are to be implied on the part of the

Company with respect to the anticipated future

any related

materials are subject to

change

Company,

or any

of

its

respective

officers,

performance of the Company or the industry in

without notice.

employees, agents or representatives in or from

which it operates. Such statements, estimates and

this Presentation or any other written or oral

projections reflect various assumptions and

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the Company or as to the accuracy, completeness

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or fairness of this Presentation, the information or

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opinions on which it is based, or any other written

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assurance that any projected results are

with the Company.

attainable or will be realised.

In particular, certain

Kenmare Resources - Investor Presentation January 2022

2

Overview: Kenmare Resources

The world's largest ilmenite producer

Moma Mine in Mozambique

  • 15 years of production with >30 years in Mozambique
  • >100 years life of mine
  • Low environmental impact - 90% of power from renewable source (hydropower)
  • Meaningful contribution to the local and national economy

Market-leading position

  • Four product streams: ilmenite, zircon, rutile and mineral sands concentrate (monazite)
  • Kenmare production represents 8% of global supply
  • Key raw materials in the manufacture of paints, paper and plastic

Significant capital investment

  • Capital expenditure of ~US$1.4bn to date
  • Three development projects delivered between 2018 and 2020 to increase production to 1.2 million tonnes per annum (Mtpa) of ilmenite, plus associated co-products

Kenmare Resources - Investor Presentation January 2022

Wet Concentrator Plant B mining at Pilivili

2020 Revenue by product

Concentrates Rutile 3% 7%

Primary zircon 19%

Ilmenite 72%

3

Delivering increased production and profitability

Ramping up to 1.2 Mtpa ilmenite production

GROWTH

Guidance of 1.125 to 1.225 Mt of ilmenite (plus associated co-products) in 2022

MARGIN

EXPANSION

Kenmare is targeting a first quartile position on the industry revenue to cost curve

SHAREHOLDER

RETURNS

Targeting a 25% Profit After Tax (PAT) dividend payout ratio in 2021, up from 20% previously

1. EBITDA margin based on EBITDA over free on board (FOB) revenues

46%

production

increase

49%1

EBITDA margin

~US$100m

2021 total

shareholder returns

2021 was a record year for

safety, production and

shipments

H1 2021 EBITDA margin up significantly from 33% in H1 2020

USc7.29/sh 2021 interim dividend and US$81.6m returned to shareholders through share buy-back

Kenmare Resources - Investor Presentation January 2022

4

Committed to safety and sustainability

Over six million hours worked in 2021 without a Lost Time Injury

Safety

Sustainability

COVID-19

  • Lowest ever Lost Time Injury Frequency Rate (LTIFR) in 2021
  • 88% improvement in LTIFR vs 2020
  • One year without a Lost Time Injury achieved on 6 January 2022
  • Inaugural Sustainability Report published for year-end 2020
  • Inaugural Climate Strategy Report to be published for year-end 2021
  • 96% of employees at the Moma Mine had received two doses of the vaccine by year-end
  • 12,000 vaccines donated for local communities

Kenmare Resources - Investor Presentation January 2022

5

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Kenmare Resources plc published this content on 27 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2022 15:54:22 UTC.