Participation in trade delegations to Japan

Savannah Resources Plc, the developer of the Barroso Lithium Project in Portugal, a 'Strategic Project' under the European Critical Raw Materials Act and Europe's largest spodumene lithium deposit (the 'Project'), is pleased to report its recent participation in trade delegations to Japan, organised by the European Commission and Portuguese State Entities.

In September, Savannah was invited by the Cabinet of Mr Stéphane Séjourné, European Commission Executive Vice-President for Prosperity and Industrial Strategy, to participate in a high-level EU business mission to Japan. Savannah's Deputy Chair, Diogo da Silveira, attended. During a very productive visit, which included a meeting with the Japanese Prime Minister, two Memoranda of Understanding were signed between the European and Japanese private sectors on batteries and other strategic technologies and a 'matchmaking' session was held between European and Japanese business leaders.

This mission coincided with specific acknowledgment by the European Commission President, Ursula Von der Leyen, on the importance of accelerating progress in lithium projects in Portugal during her speech at the 'One Year After the Draghi Report Conference' in Luxembourg. This followed, in turn, from the specific reference to lithium in Portugal made by Professor Draghi in his Report[1], published in September 2024, as an example of how Europe could help to meet its own needs for some critical materials.

In parallel with European efforts to build its relationship with Japan in new industrial areas, Portugal also has been independently reinforcing its ties with Japan to generate greater cross-border investment. Following talks in Japan between the Prime Ministers of the respective countries in September, Savannah's CEO, Emanuel Proença was asked to be part of a Portuguese trade delegation led by AICEP, Portugal's trade and investment agency, which visited Japan earlier in October.

During the visit the delegates had group and individual meetings with various Japanese officials and relevant businesses. Given the significance of Japan's role in the lithium battery and vehicle manufacturing industries, Japanese companies are significant players in these markets and represent potential customers, investors and partners for Europe's emerging lithium battery value chain players, such as Savannah.

Savannah's Deputy Chair, Diogo da Silveira (front row, 2nd from left) pictured with Stéphane Séjourné, European Commission Executive Vice-President for Prosperity and Industrial Strategy (front row, centre), (former) Japanese Prime Minister, Shigeru Ishiba, (front row, 5th from right) and Minister of Economy, Trade and Industry, Mr. Yoji Muto (front row, 4th from right), and other delegates during the September 2025 EU business mission to Japan.

Commenting on the visit, Savannah's CEO, Emanuel Proença' said, "Savannah was humbled to be invited on these two important trade delegations to Japan. Savannah's inclusion underlines the importance of the Barroso Lithium Project to Portugal's and Europe's ambitions in the critical raw material production sector.

"Japanese companies are major players in the global battery and auto industries and some have also been important investors and partners in the development of battery raw material projects in other countries. Hence, we were very pleased to have these opportunities to meet with representatives of some of these companies in person during these government-backed events and discuss opportunities to collaborate and accelerate the battery value chain in both economic blocks.

"We thank the European Commission and the Portuguese Foreign Investment Agency for Savannah's inclusion in these important trade missions and now look forward to developing our relationships with our Japanese counterparties."

Members of the Portuguese trade delegation to Japan including Savannah's CEO, Emanuel Proença (4th from right) with their hosts, October 2025.

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[1] The future of European competitiveness, September 2024