Premier African Minerals (PREM) Trading update summary

Operational update

• Plant operations at the Zulu Lithium and Tantalum Project will not recommence in July as previously anticipated, pending the conclusion of discussions with Canmax Technologies regarding a Long Stop Date extension.

• Several plant modifications, upgrades, and maintenance activities have been implemented following June processing operations to improve reliability and operability.

• Mining and stockpiling activities continue at a reduced scale, with a focus on building adequate ore inventory before restarting plant operations.

• A revised operating timetable will be announced after the conclusion of discussions with Canmax.

Corporate and strategic update

• Constructive discussions are ongoing with Canmax for a further extension of the Long Stop Date under prepayment and offtake arrangements.

• Canmax is reviewing operational and commissioning data from the upgraded flotation circuit and overall technical progress.

• The proposed extension and successful production campaign are seen as key to demonstrating sustained plant performance and attracting potential strategic investors.

• Further updates will be provided upon conclusion of discussions or any material developments.

Regulatory and forward-looking statements

• The announcement contains inside information as defined by UK Market Abuse Regulations.

• Forward-looking statements are based on current expectations and assumptions, with actual results potentially differing due to various risks.