Strategic Investor Board Appointment

Pensana (PRE.LSE) is pleased to announce that Sheikh Dr Badr bin Dalhim Al-Faheid Al-Hajri has joined the Board of the Qatar-backed Cascade Natural Resources Limited ("Cascade") and is fully supportive of Cascade's US$165million Strategic Investment into Pensana as announced on 4 March 2026.

The appointment reflects Cascade's growing international standing, and the strong backing of Qatar, as they look to advance their investment in Pensana and the Longonjo project, and further deepen their commitment to rare earth supply chains

Sheikh Dr Badr Al-Hajri, on joining the Cascade Board, said:

"

I am honoured and delighted to join the Board of Directors of Cascade and to contribute to the company's strategic vision as it advances its investment in Pensana and the Longonjo project. This important investment reflects a forward-looking commitment to strengthening critical mineral supply chains and supporting the development of sustainable mining and processing capabilities - a sector that will play a pivotal role in powering future technologies, advanced manufacturing, and long-term industrial growth. I look forward to working with the Cascade team as it builds a leadership position in the rare earth sector

."

Paul Atherley, Chairman of Pensana commented:

"We very much welcome the support of Sheikh Dr Badr bin Dalhim Al-Faheid Al-Hajri and the investment by Qatar-backed Cascade which will accelerate the development of Longonjo as one of the world's largest rare-earth mines and for the development of our downstream ambitions."

Lloyd Pengilly, Chairman of the Board of Cascade Natural Resources Limited, said

:

"

We warmly welcome Sheikh Dr Badr Al-Hajri to the Cascade Board. His appointment reflects the strong and committed support Qatar is bringing to Cascade as we pursue our ambition to build a world leader in the rare earth space. Our investment in Pensana and the Longonjo project is a significant step in that journey, and we are grateful for Qatar's backing and excited about what we can build together

."

About Sheikh Dr Badr bin Dalhim Al-Faheid Al-Hajri

Sheikh Dr Badr bin Dalhim Al-Faheid Al-Hajri is a senior figure across the Gulf and broader Arab world, with extensive experience spanning government, diplomacy, and international economic affairs. He has held senior positions within institutions operating under the umbrella of the League of Arab States and the Arab Economic Unity Council, representing twenty-two Arab member states across the Middle East, North Africa, the Gulf region and Africa. He brings to the Cascade Board deep networks across sovereign and institutional investor communities in the Gulf, as well as a long-standing commitment to fostering investment partnerships between the Arab world and international markets. His appointment strengthens Cascade's relationships with Qatari and broader Gulf investors as the company executes its critical minerals strategy.

About Cascade Natural Resources Limited

Cascade Natural Resources Limited is a Guernsey-incorporated investment company focused on building and investing in companies with the potential to become global leaders in the natural resources sector. Backed by Qatari capital, Cascade pursues a strategy of concentrated, high-conviction investments in assets across critical minerals and natural resources, targeting opportunities where focused management and strategic capital can create businesses of lasting global significance.

About

Pensana

Pensana is developing one of the world's largest and highest-grade magnet metal rare earth mines which

will produce initially 20,000 tpa of a clean high value MREC including both LREE and HREE. The plan is to

expand

production

to

40,000

tpa

of

MREC

once

initial

operations

have

been

established.

The Longonjo operation will extract, concentrate, calcine and chemically refine the free dig material to produce

a

high-value

MREC

which

will

be

railed

273

kilometers

in

containers

to

the

Atlantic

port

of

Lobito for

export.

Pensana

is

looking

to

establish

a

world

class

fully

integrated

mine-to-magnet

supply

chain

in

partnership with U.S. partners and with support from U.S. Government.

The

Longonjo

mine

is

located

adjacent

to

the

Lobito

rail

corridor

approximately

60

kilometers

west

of

the provincial capital of Huambo in central Angola.

The project is currently under development, comprises an open pit, concentrator and recovery plants, tailings storage facility (designed to meet the requirements of the Global Industry Standard on Tailings Management), process water supply, bulk power supply, mine infrastructure, workshops, offices, accommodation village, recreational facilities, and other associated infrastructure.

The

inside information as stipulated under the Market Abuse Regulations (EU) No.596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information

will

be

considered

to

be

in

the

public

domain.

The

person

responsible

for

arranging

for

the

release

of

this announcement on behalf of the Company is Paul Atherley (Chairman).

For

further

information,

please