• Completed final US$10 million tranche payment to acquire 100% ownership of Kangankunde Rare Earths Project
• Consolidates full legal and beneficial ownership, providing strategic and operational control
• Stage 1 construction advancing rapidly, Stage 2 studies well underway

Lindian Resources Limited (ASX: LIN) has completed the final US$10 million tranche payment under the Share Sale Agreement for the acquisition of Rift Valley Resource Developments Limited (RVRD), the Malawian company that holds 100% ownership of the Kangankunde Rare Earths Project. This payment increased Lindian's ownership of RVRD from 67% to 100%, transferring full legal and beneficial ownership of RVRD to Lindian and giving the Company 100% direct control of Kangankunde, one of the world's largest and highest-grade rare earth deposits currently under development. The final US$10 million tranche was originally due upon commencement of commercial production at Kangankunde or by the end of July 2026, but Lindian exercised its right to make the payment earlier to complete full ownership ahead of schedule. Achieving 100% ownership of Kangankunde marks an important milestone for Lindian, providing clear alignment of its operational entities and full strategic and operational control as the company moves toward first production on what is one of the rare earth industry's most significant development projects. Stage 1 construction is advancing rapidly, and Stage 2 studies are well underway.

With 100% ownership of Kangankunde secured, Lindian is positioned to accelerate the development of this globally significant rare earths project towards first production.