Premier African Minerals (PREM) Trading update summary

Funding

• Raised ~£1.2m before expenses through a direct subscription of 27,522,935,780 shares at 0.00436 pence each; proceeds will support Zulu operating costs and working capital.

• Funds will cover mining and stockpiling, restart personnel and consumables, essential Zulu creditors and general working capital; admission to AIM is expected on or around 9 October 2026.

• Following issue, total share capital with voting rights will be 77,597,203,602 ordinary shares.

Zulu operational update

• Immediate focus is restarting processing with approximately 13,000 tonnes of ore on the ROM pad, targeting an initial campaign of approximately 15 days.

• Campaign assessment will focus on throughput, recoveries, plant stability and product quality; supplier engineers are expected on site to support operations and flotation plant optimisation.

• Additional blasted ore within the EPO may be moved to the ROM pad after the campaign, subject to satisfactory plant performance and working capital availability.

• Campaign results will inform further operational and funding decisions, including potential mining remobilisation and processing beyond the initial period.