Recommencement of Fieldwork

Savannah Resources Plc, the developer of the Barroso Lithium Project in Portugal (the 'Project'), a 'Strategic Project' under the European Critical Raw Materials Act and Europe's largest spodumene lithium deposit is pleased to announce that it can restart fieldwork with immediate effect at the Project. This follows the issuance of a 'Reasoned Resolution' (the 'Resolution') by the Portuguese State in response to the expected and anticipated 'precautionary measure' (the 'Measure') entered at the Administrative and Fiscal Court of Mirandela by the Covas do Barroso Baldios (as announced on 9 June 2026). The Company will now reinitiate the field programme and complete the work as planned.

The Measure relates to the temporary land easement order (the 'Order') which was approved by the Portuguese State in May 2026 and gives Savannah temporary access to land which it does not own at the Project, for the purposes of conducting the last phase of fieldwork prior to construction. As the State has responded to the Measure with a Reasoned Resolution, the suspension of the Order's effectiveness is removed immediately and fieldwork can resume on the land concerned.

In its response to the Measure, the State makes clear through the Resolution :

• the Project's national and European significance;
• the important role it can play locally with population retention and greater territorial cohesion through job creation and wider economic growth; and
• that Savannah completed the work under the first temporary land easement in 2025 in strict compliance with the guidelines and demonstrated willingness to clarify any concerns with affected landowners (see Additional Information section for further details).

Savannah is pleased that its previously stated expectation of being able to return to the field promptly has now been met.

The Company looks forward to providing shareholders with further updates regarding its progress with the fieldwork as well as with other Project-related workstreams, including the Definitive Feasibility Study.

Additional Information

Key commentary from the Portuguese State's Reasoned Resolution includes:

On the Project's national and European importance

o "…the Barroso Mine Expansion Project does not constitute a mere private-sector business initiative but rather an instrument for the implementation of national and European public policy, with direct relevance to the European Union's strategic autonomy and to the binding objectives established under the European Critical Raw Materials Regulation. This confers upon the public interest underlying the challenged administrative act a dimension that transcends the purely national sphere."

o "In addition, investment in lithium extraction is intended to stimulate the national economy by promoting foreign investment and generating employment in the mining sector and throughout associated value chains. It may also foster the development of a domestic lithium refining and processing industry and attract, particularly to inland regions of the country, industries that depend on this raw material, thereby supporting the economic development of those regions."

o "Accordingly, the suspension of the effectiveness of the administrative act is liable to cause serious and difficult-to-remedy harm to the public interest, as it would compromise the execution of works that are essential to the continuation of the licensing process, delay the implementation of a project of recognized national and European strategic importance, and jeopardize the achievement of objectives related to the sustainable supply of critical raw materials and the energy transition."

On the Project's importance to the local economy and region

o "…Furthermore, the project has a positive impact on local economic development, notably through the creation of jobs and the stimulation of related economic activities, thereby contributing to population retention and territorial cohesion in a region affected by depopulation trends. Consequently, the suspension of the works resulting from the suspension of the administrative act in question, and the potential non-implementation of the project, may have adverse effects on employment and the local economic fabric."

• In relation to Savannah's good conduct during the first temporary land easement (2025)

o "It should be noted that the works previously carried out under the former administrative easement within the scope of the same project were executed in strict compliance with the concession agreement, the work programme approved by the Directorate-General for Energy and Geology, and the Environmental Impact Statement (DIA), in accordance with the applicable legal framework. The concessionaire has, in all circumstances, demonstrated complete willingness to clarify any concerns raised by affected landowners, which attests to the rigour of its conduct and the absence of any significant damage attributable to the implementation of the easement."

Regulatory Information

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