Pensana Plc provided the following update on activities at the Longonjo minesite ahead of main construction. As previously announced the early-stage development activities are being funded by a USD 15 million bridging loan provided by FSDEA (the Angolan Sovereign Wealth Fund) ahead of the main finance. The significant activities have been the civil works for the camp, the rehabilitation of the access road to the Longonjo railway station and the agricultural demonstration plots under the Livelihood Restoration Programme.

The 4.5 kilometre road linking the site to the Benguela railway line has been upgraded. The enhanced road features include an improved roadbed substructure, a redefined road profile and rapid drainage systems. Serving as the primary route for inbound materials during construction and later for reagent import and the export of Mixed Rare Earth Carbonate in containers, the road connects the mine to the Longonjo station for rail access to the port of Lobito for shipping. The Benguela railway line is part of the Lobito corridor undergoing a USD 550 million investment from the US Government.

The investment aims to secure critical minerals across central Africa to be exported via the port of Lobito and is anticipated to become one of Africa's most important rail transport systems. Several kilometres of overhead powerlines, together with an underground water supply and effluent disposal system have been installed ahead of the arrival of the 350-person modular camp, which has been assembled atohannesburg and is being relocated to site. The camp will be the primary operations base for the construction team. Agricultural demonstration plots have been established by South African agriculture consultants, Vuna Agri, as part of the Livelihood Restoration Programme.

the demonstration plots have an area of nine hectares and have now successfully completed their first full season. The Livelihood Restoration Programme was established to provide replacement land for any displaced farmers and additionally to provide a training base for those persons affected by the project to develop their agricultural skill sets. The objective is to help local growers and farmers create healthy and sustainable agro-ecosystems, boosting household income in nearby communities, whilst enhancing overall food security.

This ongoing programme is being conducted in collaboration with local universities with a view to continually improving farming practices.