• Strong safety performance with over 615,000 LTI-free work hours
• Project on schedule for first production in Q4 2026, fully funded
• Process plant civil works commenced, electrical program on schedule

Lindian Resources Limited (ASX: LIN) is pleased to provide an update on construction progress at its Kangankunde Rare Earths Project in Malawi. Construction activity continues to advance across all major work fronts, with strong progress recorded across the process plant, non-process infrastructure and mining activities. Key milestones achieved include the commencement of process plant civil works, continued progress on the 33kV powerline and site infrastructure, development of the haul road and ROM pad, and the completion of important regulatory approvals. The project remains on schedule, with front-end commissioning targeted for October 2026 and first production targeted for Q4 2026. The company has maintained strong safety performance with over 615,000 LTI-free work hours recorded on site. The project is fully funded following a recent A$100 million institutional placement, with no reliance on external debt. The Stage 1 process plant is designed for a 20,000 tonnes per annum nameplate concentrate capacity, with first ore to the ROM pad scheduled for June 2026. Construction progress includes the commencement of process plant civil works, advancement of the electrical program, and the operational Tipume Accommodation Camp. Lindian has also achieved key regulatory milestones, including water and borehole approvals and waste management approvals. The company remains focused on safe delivery, disciplined execution, and ensuring the project is operationally ready ahead of commissioning.

The Stage 1 process plant is designed for a 20,000 tonnes per annum nameplate concentrate capacity, with first production targeted for Q4 2026.

Lindian is progressing a Stage 2 Definitive Feasibility Study, targeting a significant expansion in production capacity and further strengthening Kangankunde's long-term strategic positioning within global rare earth supply chains.