Retail Offer increases Fundraise to £4.8 million

596/2014) AS IT FORMS PART OF UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 AS AMENDED BY THE EUROPEAN UNION (WITHDRAWAL) ACT 2020 ("MAR").

Savannah Resources Plc

(AIM: SAV) ("Savannah" or the "Company")

RetailBook Offer increases total Fundraise to £4.8 million

Successful RetailBook Offer and Additional Subscriptions increase total Fundraise to £4.8 million

Savannah Resources plc, the European lithium development company is pleased to announce the successful completion of the RetailBook Offer that was announced on 26 June 2025 as well as an update on additional subscriptions which it has received.

Following the successful completion of the non-pre-emptive Placing and Subscription on 27 June 2025 (which raised, in aggregate, gross proceeds of £4.24 million (US$5.81 million) before expenses), private investors have subscribed via the RetailBook Offer for a total of 8,606,866 Ordinary Shares at the Issue Price (the "RetailBook Shares"), raising gross proceeds of £0.30 million (US$0.41 million).

In parallel with the RetailBook Offer, the Company has also received additional subscriptions (the "Additional Subscription") for a total of 6,743,627 new Ordinary Shares (the "Additional Subscription Shares") at the Issue Price from existing shareholders, new Portuguese investors and Savannah staff. The additional subscriptions from staff include £20,000 from Thomas Gaultier, Savannah's Community Relations Manager, who is participating in the Fundraise alongside other members of the Company's management team and Board as previously announced (See Result of Accelerated Bookbuild and Subscription RNS, 27 June 2025), including Rick Anthon (Chair), Dale Ferguson (Board Director), Henrique Freire (CFO) and Michael McGarty (CCO).

The overall contribution of subscriptions, including the Additional Subscription Shares, has now risen to £2.26 million (US$3.10 million) versus £2.02 million (US$2.77 million) previously.

Consequently, in aggregate, 136,596,897 new Ordinary Shares will be issued pursuant to the "Fundraise" (being the total of the Placing, the Subscription, the RetailBook Offer and the Additional Subscription), raising gross proceeds, of £4.78 million (US$6.55 million).

Savannah's cash position as at 27 June 2025, prior to receiving these new funds, was £9.14 million (US$12.55 million).

Savannah's Chief Executive Officer, Emanuel Proença said: "It is very pleasing to see the level of interest the retail element of Savannah's Fundraise has received over the last few days. My sincere thanks go to all those existing and new individual shareholders who have participated. It is extremely satisfying that the aggregate Fundraise was so well supported by existing shareholders and has attracted significant investment from both of our 'core' countries, Portugal and UK, in addition to participation from investors elsewhere.

"As a proud Portuguese myself, and knowing that one of our missions was to reinforce the trust between Savannah and the Portuguese, I am very pleased with the tremendous progress made versus the 2023 Fundraise, when only 1% of the new share capital issued was subscribed for by Portuguese. Now with Portuguese participation having reached more than 40%, we reiterate our commitment of continuing to progress in this aspect.

"Savannah understands the trust and responsibility that is placed in our Company by shareholders, alongside the financial investment which they choose to make in us. This is a great inspiration for me and the team and we are firmly focused on delivering the Project for all our stakeholders and generating significant value in the process, whilst supplying a critical raw material for Europe's energy transition.

"Importantly, when combined with our existing cash resources, the funds Savannah has raised via this exercise gives us the financial platform from which we can work on the Project beyond the current Definitive Feasibility Study ('DFS'). This financial security enables us to maintain our progress and ensure that we are well placed in the future to leverage the better lithium prices and market conditions which are forecast, for our shareholders.

"With this exercise completed successfully, all our efforts can return to the key Project workstreams and we expect to make significant progress during the second half of 2025. We look forward to updating all our shareholders as we advance, fulfilling the trust they have shown in us."

Admission to trading on AIM

The RetailBook Shares and Additional Subscription Shares, when issued, will be credited as fully paid and rank "pari passu" with the existing Ordinary Shares.

Application has been made to the London Stock Exchange for Admission of the aggregate 15,350,493 new Ordinary Shares to be admitted to trading on AIM ("Admission") pursuant to the RetailBook Offer and Additional Subscription. Admission is expected to become effective and dealings in the RetailBook Shares and Additional Subscription Shares to commence at 8.00 a.m. on 4 July 2025. As noted in the announcement on 27 June 2025, the admission of the Placing Shares and Subscription Shares to trading on AIM will commence at 8.00 a.m. on 2 July 2025.

Related Party Shareholdings

Following Admission, the percentage holdings of the Substantial Shareholders who participated in the Fundraise are set out in the table below:

Total Voting Rights

On Admission, the total number of Ordinary Shares in issue will be 2,309,371,101 and the total number of voting rights will therefore be 2,309,371,101. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Note

Defined terms used in this announcement shall have the same meaning as in the Launch Announcement dated 26 June 2025 and the Result of Placing and Subscription Announcement dated 27 June 2025 unless otherwise defined herein.

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