• Lycopodium awarded ESLH contract for KEFI's Tulu Kapi Gold Project in Ethiopia
• Contract valued at approximately A$118 million within KEFI's total project budget
• Delivery of services has already commenced for full gold production anticipated mid-2028

Lycopodium Limited ('ASX: LYL', 'Lycopodium' or 'the Company'), a global leader in integrated engineering, project, construction and asset management, has been awarded the Engineering, Supply and Labour Hire (ESLH) contract for the development of KEFI Gold and Copper's ('KEFI') Tulu Kapi Gold Project in Ethiopia. The full contract is valued at approximately A$118 million within KEFI's total project budget, with delivery of services having already commenced for full gold production anticipated mid-2028. Tulu Kapi is KEFI's flagship project, located in the Oromia Region of Western Ethiopia, approximately 360 kilometres west of Ethiopia's capital, Addis Ababa. Lycopodium's early involvement in the project included delivery of the original Feasibility Study, followed by a Feasibility Study update in 2024. The Company's ESLH scope includes the full suite of engineering, procurement, project services and project management, as well as the supply of equipment and materials for the 2 Mtpa greenfield gold plant and associated non-process infrastructure. A limited notice to proceed (for approximately A$30.1 million) has been issued by KEFI and execution of the final contract, already fully agreed, is anticipated with the closure of the full package of documentation with the broader project syndicate members in the next few weeks.