The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

13 October 2025

Kazera Global plc

("Kazera", the "Group" or the "Company")

Operational Update

Record diamond recovery, improved diamond revenue terms,

and continued progress across all operations

Kazera Global plc (AIM: KZG), the AIM-quoted investment company, is pleased to provide an operational update covering its diamond-mining subsidiary Deep Blue Minerals ("Deep Blue" or "DBM"), Heavy Mineral Sands ("HMS") subsidiary Whale Head Minerals ("WHM" or "Whale Head"), and its application for the 3,000 hectare 2A Concession Mining Right in Alexander Bay, South Africa.

Highlights

Deep Blue Minerals - Diamonds

·     Record diamond recovery: 57 diamonds were extracted from just 40 tonnes of screened gravel processed over one and a half days, averaging 0.72 carats per stone and including the Company's largest diamond of the year at almost 7 carats.

·     Operational efficiency: In-house processing now allows for near-instant analysis of gravels, enabling focus on areas with the highest diamond-to-gravel ratios.

·     Improved commercial terms: Revised agreement with Alexkor RMC JV increases Deep Blue's proportion of diamond sales revenue.

·      Growing diamond revenue potential: Diamonds, initially expected to represent a modest share of total income, are now anticipated to become a significant contributor to Group revenues in the future.

Whale Head Minerals - Heavy Mineral Sands ("HMS")

·    HMS project progressing as planned: Production and sales remain steady; TiO₂ content consistent with previous levels, ensuring product quality and marketability.

·    Production expansion identified: Opportunities recognised to increase HMS production capacity by up to three times; assessment work underway.

2A Concession Mining Right Application

·      2A Licence confidence maintained: Application continues to progress; the Company remains confident of a positive outcome.

·    Community support: Widespread local engagement in the 2A project demonstrates strong community backing, recognising the employment and economic benefits anticipated in the region.

Dennis Edmonds, Chief Executive Officer of Kazera Global, commented: "This update highlights the continuing operational and strategic progress across the Group. Our diamond operations are performing exceptionally well, both in terms of recovery levels and in the speed and accuracy with which we can now process, analyse and target gravels. The improved revenue terms agreed with Alexkor RMC JV further strengthen the commercial foundations of this growing part of the business.

"Our Heavy Mineral Sands operation remains stable and predictable, providing a dependable basis for growth, while we continue to have strong confidence in a positive outcome for the 2A licence. As we move into the final quarter of the year, Kazera is well placed, with solid operational momentum and multiple value drivers across its portfolio."

DETAILS

Deep Blue Minerals - Diamonds Update

The Company is pleased to report ongoing strong performance from its diamond operations.

During just one and a half days of mining this week, the Company processed approximately 40 tonnes of screened diamond-bearing gravels, recovering 57 diamonds at an average stone size of 0.72 carats, including a stone of almost 7 carats - the largest diamond recovered by the Company so far this year. The remainder of last week's material still requires final processing, about which management remains very optimistic.

This notable recovery from a relatively small quantity of material highlights both the diamond-rich nature of the targeted gravels and the efficiency of the Company's upgraded on-site processing plant. The investment made in its own processing equipment now enables Deep Blue Minerals to process, analyse, and target gravels almost immediately, giving management real-time insight into diamond content and quality.

Previously, without its own processing capabilities, results were received only after significant delay, reducing visibility into the most productive areas. Now, with in-house facilities providing near-instant feedback, Deep Blue Minerals can operate in a much more strategic and targeted manner - eliminating low yield zones and quickly shifting focus to areas with the highest diamond-to-gravel ratios to maximise both efficiency and output.

Diamonds from the previous cycle, as reported in the RNS issued on 25 September 2025, have now been successfully auctioned, and the Company is currently awaiting payment advice confirming the prices actually received.

The newly recovered diamonds form part of the next sales cycle, which is expected to close in the second half of November, with payment anticipated by mid-December following auction of the diamonds by Alexkor RMC JV.

Kazera is also pleased to confirm that Alexkor RMC JV and Deep Blue have agreed revised revenue-sharing terms for diamond sales, which is applicable to both recently sold diamonds and future production. The revised agreement increases Deep Blue's share of revenue by around ten percentage points for coastal diamonds, with a similar increase for inland diamonds (subject to strip ratio)¹. Overall, this is expected to deliver an increase in profits from diamond sales of approximately 25%, representing a material improvement for Deep Blue and highlighting the strong and constructive relationship between the parties.

Collectively, these developments further enhance the financial potential of the diamond operations, which are now expected to grow into a significant contributor to future Group revenues.

Whale Head Minerals - HMS Update

Operations at the Company's HMS project continue to perform steadily and in line with expectations. The TiO₂ content of the heavy mineral sands remains fully consistent with previous results, emphasising the ongoing quality and strong marketability of the product.

Building on this solid foundation, the Company has identified several practical opportunities to increase production capacity by up to three times. Work is underway to determine the most efficient and cost-effective way to implement this expansion, ensuring that any scale-up delivers optimal returns.

Although there are no new material developments to announce at this stage, the Board wishes to reassure shareholders that operations are progressing smoothly and as planned. The HMS project continues to perform as expected, with no operational or logistical challenges encountered.

2A Concession Mining Right Application

The Company remains confident of a positive outcome regarding its 2A Mining Right application with the Department of Mineral Resources and Energy ("DMRE"), which remains under consideration.

While it had originally been hoped that the licence might be granted earlier in the year, the process has taken longer than anticipated. The Company recognises that the DMRE is managing a significant workload and appreciates the efforts being made to progress applications as efficiently as possible.

As part of the application process, Whale Head Minerals has engaged extensively with local communities around the proposed expansion of activities should the 2A Licence be approved. These communities have expressed strong support for the project, recognising its potential to create significant employment and economic benefits within the region.

The Board remains confident that the licence will be approved in due course, and there are currently no known impediments to its approval.

¹The strip ratio refers to the amount of waste material that must be removed to access diamond-bearing gravel. Revenue-sharing for inland operations is adjusted in line with this ratio to reflect variations in mining effort and cost.

ENDS

For further information, visit www.kazeraglobal.com or contact:

About Kazera Global plc

Kazera is a global investment company focused on leveraging the skills and expertise of its Board of Directors to develop early-stage mineral exploration and development assets towards meaningful cashflow and production. Its three principal investments are as follows:

Alluvial diamond mining through Deep Blue Minerals (Pty) Ltd, Alexander Bay, South Africa

Kazera currently has a 100% direct interest in Deep Blue Minerals, of which 74% is held beneficially by Kazera and 26% is held on behalf of Black Economic Empowerment partners.

Heavy Mineral Sands mining (including ilmenite, monazite, rutile, and zircon) through Whale Head Minerals (Pty) Ltd, Alexander Bay, South Africa.

Kazera currently has a 70% direct beneficial interest in Whale Head Minerals together with the benefit of a loan facility entitling it to receive approximately £38m out of dividends from the other shareholders.

Tantalite mining in South-East Namibia (divestment in progress)

As announced on 20 December 2022, Kazera agreed to dispose of African Tantalum (Pty) Ltd ("Aftan") for a cash consideration of US$13 million plus a debenture payment of 2.5% of the gross sales of produced lithium and tantalum for life-of-mine. Completion of the sale was subject to receipt of full consideration proceeds. Aftan was deconsolidated from the Company's financial statements with effect from 4 January 2023 because, in accordance with the terms of the sale agreement, it had relinquished control of Aftan in favour of the purchaser, Hebei Xinjian Construction Close Corp ("Hebei Xinjian") with effect from that date. Kazera retained the right to cancel the transaction and retain all amounts paid to date in the event of default by Hebei Xinjian. Following default by Hebei Xinjian, Kazera initiated legal proceedings in September 2024, which have now concluded in Kazera's favour with an arbitration award exceeding US$11.9 million, including interest, plus coverage of legal costs. Kazera is now assessing the most effective legal and commercially beneficial avenues to enforce the award and recover the full amount due.

The Company will consider additional investment opportunities as appropriate, having regard to the Group's future cash flow requirements.