Appointment of Alison Saxby as I-NED

17 August 2022

Pensana Plc

("Pensana" or the "Company")

Appointment of Alison Saxby as Independent Non-Executive Director

Pensana is pleased to announce the appointment of Alison Saxby as Independent Non-Executive Director with effect from 17 August 2022.

Alison is an industry leading expert with over 35 years of experience in industrial minerals and metals. Her expertise includes pricing, deep market knowledge, research, and communications, gained through consultancy projects, minerals trading and commercial reports.

She was previously a Managing Director at metals consultancy Roskill, where she led the strategic direction of the company’s research and products through a period of growth, with a focus on critical minerals. Prior to that she held roles at Fastmarkets and as an independent consultant.

Alison was recently a member of the UK government’s Critical Materials Global Expert Mission to both Canada and the USA for Innovate UK-KTN, and is working with Edumine to provide educational courses on critical materials. She is the author of numerous publications on critical and other minerals and originally trained as a mineral engineer.

Pensana Chairman, Paul Atherley, commented:

"We are delighted to welcome Alison to Pensana. As one of the leading industry experts on critical minerals her insight will be invaluable for the Board, while her strategic vision will play an important role in supporting Pensana’s growth.

Building on the recent Saltend ground breaking and Automotive Transformation Fund announcement, Pensana continues to move towards funding and development of the world’s first independent and sustainable rare earth supply chain to support the energy transition.”

-ENDS-

For further information, please contact:

Shareholder/analyst enquiries:

Pensana Plc 

Paul Atherley, Chairman  [e-mail] 

Tim George, Chief Executive Officer

Rob Kaplan, Chief Financial Officer

George Zacharias, Group Company Secretary

Media enquiries:

FGS Global:

Gordon Simpson / Richard Crowley  [e-mail]

About Pensana Plc

The electrification of motive power is by far the most important part of the energy transition and one of the biggest energy transitions in history. Magnet metal rare earths are central to the transition away from internal combustion engines and critical to electric vehicles and offshore wind turbines.

Pensana plans to establish Saltend as an independent and sustainable processing hub supplying the key magnet metal oxides to a market which is currently dominated by China. The US$195 million Saltend facility is being designed to produce 12,500 tonnes per annum of rare earth oxides, of which 4,500–5,000 tonnes will be neodymium and praseodymium (NdPr), representing over 5% of the world market in 2025.

Pensana’s plug and play facility is located within the world class Saltend Chemicals Park, a cluster of leading chemicals and renewable energy businesses in the Humber Freeport and will create over 500 jobs during construction and over 125 direct jobs once in production.

It will be the first major separation facility to be established in over a decade and will become one of only three major producers located outside China.

Pensana is aiming to establish Saltend as an attractive alternative for mining companies who may otherwise be limited to selling their products to China, having designed the facility to be easily adapted to cater for a range of rare earth feedstocks.

www.pensana.co.uk