Project & Stakeholder update

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, is pleased to announce the start of the final pre-construction drilling programme on the Project, good progress with a number of other technical work fronts and the signing of a Memorandum of Understanding ('MoU') with Fábrica da Igreja da Freguesia de Boticas, the entity responsible for the parish church of Boticas. This is the 7th partnership agreement with relevant local entities signed this year alone.

These developments follow the important milestones achieved over the summer including:

• The publication of the Definitive Feasibility Study for Phase 1 of the Barroso Lithium Project and the accompanying initial 20Mt JORC Reserve Statement (See 15 July 2026 RNS).
• The signing of land access and benefit sharing agreements with two local communities ('baldios') that hold and manage lands covering some of the Project's concession, granting Savannah friendly access to a further 150 hectares (See 12 August 2026 RNS).
• An MoU with the regional body representing the Baldio communities of Trás-os-Montes and Alto Douro (See 12 August 2026 RNS).
• Progress with the acquisition of additional land plots.

Drill programme

• Two rigs are currently operating at site. A diamond drilling rig for geotechnical investigation, and a down hole hammer percussion drill rig for water piezometers installation.
• The drilling programme is expected to take approximately 4 weeks to complete.
• A third rig is expected to arrive shortly to increase the production rate for the final stage of the geotechnical programme, with a fourth Reverse Circulation drill rig expected to arrive later in the month.
• Data from the drilling will feed into the current geotechnical study which will, in turn, be used in final detailed engineering designs for key parts of the Project's infrastructure, including water reservoirs, the Tailings Storage Facility, waste dumps, roads and bulk earthworks.
• Additionally, the water monitoring bores which are being drilled will provide critical data to assess groundwater dynamics before, during, and after construction and operation of such infrastructure.

Other technical activities

• Technical and Environmental & Social due diligence processes, required for the Project Finance process, are well advanced after completion of the Definitive Feasibility Study with final reports expected to be available to shortlisted potential lenders in due course.
• Detailed engineering of water reservoirs is well advanced. This information will serve as basis for the Execution Project report required as part of the Project's remaining licencing process (RECAPE).
• Team expansion to deliver the Project continues with the recruitment of key positions. Jose Almeida joined as FEED engineer in August, with Project Director and Contracts/Procurement Manager recruitment processes well underway. Ten additional roles are expected to be filled by end of 2026.
• The Process plant Front-End Engineering Design ('FEED') vendor has been selected. The start of the FEED workstream is expected later this week.

Community and stakeholder engagement

• An MoU has been signed with the Fábrica da Igreja da Freguesia de Boticas, the body responsible for the parish church of Boticas. The MoU formalises the Company's support for the parish's religious, cultural, recreational and social activities and for the preservation of local religious and cultural heritage.
• At the invitation of the Fábrica da Igreja de Boticas, the Company's CEO and members of the Savannah team joined the community in Boticas on 15 August for the festivities in honour of Nossa Senhora da Livração - the most significant date in the local calendar, and an occasion that draws many members of the emigrant community back to the region.
• As part of its wider stakeholder engagement efforts, Savannah was delighted to sponsor the 16th Quadrennial Symposium of the International Association on the Genesis of Ore Deposits ('IAGOD'), held in Porto from 30 August to 2 September 2026.

Emanuel Proença, CEO of Savannah, said: "Since returning to the field in June, our team has worked hard to get ready for this short but important drill programme. Now underway, following the lifting of forest fire-related restrictions, it marks another step towards the final engineering designs needed for financing and construction.

"Alongside this, key engineering and Project Finance workstreams continue to advance, and I am pleased to welcome Jose Almeida as FEED Engineer as we build the team required to deliver the Project.

"We were also honoured to join Boticas' Nossa Senhora da Livração celebrations at the invitation of the Fábrica da Igreja. It was a privilege to stand with the community on such an important local occasion and reflects the respectful, long-term relationships we are committed to building."

Additional information

MoU with Fábrica da Igreja da Freguesia de Boticas

The MoU formalises the Company's support for the parish's religious, cultural, recreational and social activities and for the preservation of local religious and cultural heritage. Under the MoU, Fábrica da Igreja da Freguesia de Boticas will nominate a representative to the Project's Local Consultative and Monitoring Committee, the multi-stakeholder body which will prioritise and approve local development projects financed by the Barroso Lithium Foundation and scrutinise the Project's social performance.

Jose Almeida, FEED Engineer

José Mexia de Almeida joins Savannah Resources as the Technical Integrator during FEED and early execution to ensure that all engineering disciplines, contracts, and interfaces are aligned to deliver a constructible, execution-ready project. Jose is a Chartered Mechanical Engineer with 15 years of international work experience across asset-intensive sectors - including Oil & Gas, Mining, and the Cement industry (Worley, BP, Cimpor). He brings to the team technical governance and project execution knowledge, with a background in multi-disciplinary coordination, protecting project scope, and translating engineering deliverables into enforceable contractual milestones.

16th Quadrennial Symposium of the International Association on the Genesis of Ore Deposits ('IAGOD')

Savannah was pleased to sponsor of the 16th Quadrennial Symposium of the International Association on the Genesis of Ore Deposits ('IAGOD'), which took place at the Faculty of Sciences at the University of Porto from 30 August to 2 September 2026. As Lithium Sponsor Savannah supported the session on "Pegmatites as important sources of raw materials to fuel the energy transition", while also sharing information about the Barroso Lithium Project with attendees and offering students the opportunity to share their CVs with the Company.

Regulatory Information

Savannah - Enabling Europe's energy transition.

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