• Construction at Kangankunde rare earths project progressing ahead of schedule
• Funding momentum building with multiple financing proposals under consideration
• Bauxite portfolio strengthened with 100% ownership of Lelouma project secured

Lindian Resources Ltd (ASX:LIN) reported on its activities during the quarter ended 30 June 2025. Key highlights include: Construction at the Kangankunde Rare Earths Project in Malawi continued to progress ahead of schedule, with the 5-kilometre main access road and haul road construction for Pit 1 and Pit 2 advancing well. The Company also made progress on contracting milestones, with design and construct, mining, and power infrastructure contracts progressing, and preferred tenders shortlisted. On the funding front, Lindian continued to gain momentum, with multiple financing proposals under active consideration, including for commercial bank debt, offtake agreements, and project bonds. The Company also made several key leadership appointments to strengthen the Kangankunde project execution team. Additionally, Lindian acquired the remaining 25% interest in the 900Mt Lelouma Bauxite Project in Guinea, securing 100% ownership of the asset. The quarter also saw a visit by a delegation from the Ministry of Mining, IMF and UNDP to the Kangankunde project, and the commencement of downstream testwork with ANSTO to support the offtake and strategic investment process.

Lindian remains firmly on track with its development timelines at Kangankunde, with early works progressing ahead of schedule. The Company is well-positioned to deliver long-term value for shareholders through disciplined execution and strong momentum.