Result of Accelerated Bookbuild and Subscription

This Announcement does not constitute a prospectus or offering memorandum or an offer in respect of any securities and is not intended to provide the basis for any investment decision in respect of Savannah Resources plc or other evaluation of any securities of Savannah Resources plc or any other entity and should not be considered as a recommendation that any investor should subscribe for or purchase any such securities.

Savannah Resources Plc

(AIM: SAV) (‘Savannah’, or the ‘Company’)

Result of Accelerated Bookbuild and Subscription

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 that further to its announcement dated 22 September 2026 (the “Launch Announcement”), it has successfully completed the Placing, which has now closed. The Placing, which generated strong demand and was significantly oversubscribed, took place through an accelerated bookbuilding process managed by SP Angel, Canaccord, Alantra and CaixaBank as Joint Global Co-ordinators.

The Company has raised, in aggregate, a minimum of US$36.0 million (£26.9million) (before expenses), from US$23.3 million (£17.5 million) through the Placing of 317,539,150 Placing Shares at the Issue Price of 5.5 pence per Placing Share and, pursuant to the Subscription, up to US$12.7 million (£9.5 million) through the Subscription for up to 172,097,743 Subscription Shares also at the Issue Price. The final number of Subscription Shares to be subscribed pursuant to the Subscription will only be determined following the completion of the Retail Offer, following which certain Subscribers may be adjusted to such number of Subscription Shares required in order to maintain their percentage interests.

Savannah's Chief Executive Officer, Emanuel Proença said: "Savannah continues to experience strong support from a deep and diverse pool of existing and new investors as it moves ever closer to construction and first production at the Barroso Lithium Project. All at Savannah greatly appreciate the trust shown by our investment community, which spreads across Iberia, Europe, the UK and beyond, in our ability to deliver the Project and generate significant value for shareholders and all the stakeholders in the Project.

“With the US$36.0 million raised in this significantly oversubscribed Placing, supplementing our existing cash reserves, we can move forward as planned to a Final Investment Decision (‘FID’) on the Project in 2027 and maintain our current momentum by being able to finance other key workstreams, such as long lead item orders, initial groundworks, Project Finance fees and key personnel hires.

“The remainder of the year will be another very busy period for the Company as we look to secure our second offtake partner, submit the RECAPE to Portugal’s environmental regulator, obtain conditional Project Finance offers and progress key technical workstreams. In so doing we will be preparing the way for FID, financing completion and the initiation of construction next year.

“These are exciting times for everyone involved with Savannah and its goal of lithium production in Portugal.”

The net proceeds of the Fundraise, together with existing cash reserves of US$15.5 million (as at 31 July 2026) will be allocated as follows:

US$17.0 million for project development, including vendor data and notice to start fabrication and long-lead items, groundworks ahead of access road construction, conditional grant of EPCM contract and bulk earthworks contracts, and FEED processing plant and infrastructure engineering.

US$9.0 million for general and administrative costs, including team development to strengthen the Company’s capabilities and readiness for construction (from ~40 to ~80 employees), implementation of a new Enterprise Resource Planning system and the potential costs of dual listing on a recognised stock exchange.

US$6.5 million for completion of project finance, including upfront fees, and additional offtake agreements.

US$1.7 million for RECAPE (environmental licence) submission, application for industrial permits, and bypass road design

US$1.5 million geotechnical and resource-related work including completion of geotechnical drilling for project infrastructure and additional resource drilling.

US$1.0 million to secure land use rights.

US$0.7 million for ongoing community-related initiatives.

US$4.0 million for de-risking project delivery, including early start of medium-lead items and potential additional work required by project finance lenders.

US$9.1 million for additional working capital, including contingency and six months’ time buffer.

The Retail Offer remains open for individual investors until 5.00 p.m. on 24 September 2026 and the result of the Retail Offer and final results of the Subscription will be made as soon as practicable thereafter.

Capital Access Window

As detailed in the Launch Announcement, the Company entered a Capital Access Window at 7:30 a.m. BST on 21 September 2026, in order to reach a broader range of investors during the Fundraise. It is intended that the Capital Access Window will remain open until after the Retail Offer has closed (expected at 5.00 p.m. on 24 September 2026), with normal trading in the Company's existing Ordinary Shares expected to resume at 8.00 a.m. on 25 September 2026.

Admission to trading on AIM

The Placing and Subscription are conditional on the admission of the Placing Shares and Subscription Shares to trading on AIM (“Admission”). Application has been made to the London Stock Exchange for Admission of the 317,539,150 Placing Shares, the 172,097,743 Subscription Shares and the Retail Offer Shares, which are expected to become effective and dealings in the Placing Shares, the Subscription Shares and the Retail Offer Shares on AIM will commence at 8.00 a.m. on 28 September 2026.

Substantial shareholder and Senior Management participation in the Subscription

Substantial shareholders AMG Lithium B.V., Al Marjan Ltd, Pluris Investments S.A. and Telmory LDA have each subscribed for Subscription Shares at the Issue Price as follows:

* The total number of Subscription Shares issued to such Subscribers may be adjusted, following the completion of the Retail Offer, to ensure that their percentage shareholding is maintained on completion of the Fundraise.

In addition, certain members of the Company’s senior management and team have subscribed for approximately 636,363 Subscription Shares at the Issue Price for an aggregate amount of up to approximately US$47,000 (£35,000).

The updated percentage holdings of the significant shareholders will be disclosed in due course along with the result of the Retail Offer.

Defined terms used in this announcement shall have the same meaning as in the Launch Announcement unless otherwise defined herein.

Savannah – Enabling Europe’s energy transition.

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