Operational Update

Premier African Minerals Limited ("Premier" or the "Company") is pleased to provide a further interim update on the ongoing progress at the Zulu Lithium and Tantalum Project ("Zulu Lithium").

Graham Hill, Managing Director, commented: "We are very pleased with the progress being made on site, particularly given the labour-intensive nature of the fabrication and modification work currently underway. The team has responded well to the technical requirements of the Xinhai Flotation Plant design, and the level of on-site execution has been encouraging.

Importantly, we are not only advancing installation but also refining and simplifying the plant configuration to support more reliable and efficient operations going forward. This work is critical in positioning Zulu Lithium for sustainable performance once commissioning is complete.

While there remains work to be done, we are building momentum across both the new Xinhai Flotation Plant and operational readiness, and we look forward to providing further updates as we move closer to commissioning."

Zulu Lithium Operational Update

Progress on the installation and integration of the new Xinhai Flotation Plant continues to be very encouraging. Over the past several weeks, work has primarily focused on labour-intensive, site-based fabrication activities, including the construction of overflow launders, walkways and the interconnecting pipework between flotation cells, as well as the installation of large-diameter air supply piping. Due to the design of the new Xinhai Flotation Plant, these components are required to be fabricated on site, and this work has been carried out by the Zulu Lithium engineering team under the supervision and guidance of the specialist installation engineer from Xinhai Technology Processing.

The tailings tank has now been installed, marking a further key step in the overall plant infrastructure. In parallel, the electrical switchgear is nearing completion and is scheduled for factory testing at the manufacturer's facilities later this week. Subject to successful testing, delivery to site will follow, with installation and completion of the electrical works expected over the coming weeks.

As part of the ongoing optimisation efforts, fabrication of new conveyor chutes is progressing in order to bypass the previously installed sorting equipment. Following operational review, these sorters were determined to be redundant and contributed unnecessary additional operating costs, including power consumption, manpower and maintenance. Their removal forms part of a broader strategy to simplify plant operations, improve reliability and enhance overall operability. Further modifications are also being undertaken to sections of pipework to bypass the thickener, as well as certain sumps and pumps that have historically presented operational challenges.

The mining contractor has returned to site and has commenced dewatering activities within the pits in order to facilitate the recommencement of a very selective mining programme.

The Company continues to make progress in building its processing operations team, while detailed commissioning planning is ongoing. Preparations are being made for the arrival of the Xinhai Flotation Plant commissioning engineer, who will support the final stages of plant commissioning and optimisation.

The water supply dam remains at full capacity following favourable seasonal rainfall, providing a stable and reliable water source for upcoming commissioning and sustained operational activities.

Zimbabwe Lithium Export Suspension

The Company notes recent developments in Zimbabwe's lithium export policy, following the Zimbabwe Government's decision in February 2026 to suspend exports of lithium concentrates and other raw minerals in order to promote in-country beneficiation and address regulatory concerns as announced on the 2 March 2026.

Subsequent industry engagement and regulatory clarification indicate that exports are expected to resume under a controlled framework, with approvals and quotas being granted to qualifying producers that meet specified criteria, including compliance with local processing and regulatory requirements.

Premier welcomes this pragmatic approach, which supports the continued development of Zimbabwe's lithium sector while recognising the importance of enabling established producers to export concentrate under defined conditions. The Company continues to engage constructively with the relevant authorities and remains focused on aligning its operations with the evolving regulatory framework.

Market Abuse Regulations

The person who arranged the release of this announcement on behalf of the Company was Graham Hill.