Kodal Minerals (KOD) AGM 2025 summary

Opening remarks and agenda

• Welcomed shareholders, advisors, and online attendees, outlining the meeting format and Q&A process.

• Confirmed all resolutions were passed at the official meeting, expressing appreciation for shareholder support.

Financial performance review

• Completed construction of the Stage one Bougouni DMS plant within the $65 million CapEx budget and on schedule.

• Achieved first spodumene concentrate production in February, exceeding 5.53% lithium oxide target.

• Produced 45,000 tons of spodumene concentrate, with export permit secured and offtake agreement at market price.

• Plant improvements and maintenance shutdowns have led to steady state production, targeting 125,000 tons per annum.

• Share price volatility attributed to lithium price fluctuations and export permit delays, but future support expected.

Board and executive committee updates

• Operations Director and site team recognized for successful project delivery and ongoing plant optimization.