Lifezone Metals Announces Q1 2026 Financial Results Summary

NEW YORK--(BUSINESS WIRE)--Apr 30, 2026--

Lifezone Metals Limited’s ( NYSE: LZM ) Chief Executive Officer, Chris Showalter and Chief Financial Officer, Ingo Hofmaier, announce the Q1 2026 Financial Results Summary, available on Edgar and the Company’s website.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260430675277/en/

Mr. Hofmaier commented: “ Q1 2026 was another period of disciplined execution as we advanced the Kabanga Nickel Project, opened up new avenues with the Musongati Nickel Project Exclusivity Agreement and produced our first ever Platinum, Palladium and Rhodium from the U.S. PGM Recycling Project from pilot testwork at Simulus, while maintaining focus on capital efficiency, liquidity and long-term value creation.

During Q1, we received an initial $5 million, as part of a second utilization under the senior secured bridge loan facility provided by Taurus. The remaining $16.7 million under the second utilization was received on April 29, 2026, with a further $18.3 million of the facility remaining available.

Also in April, we further strengthened our cash position by closing a registered direct offering that raised $25.0 million in gross proceeds. These funds will help us to position the business for the next stage of growth while remaining mindful of market conditions and disciplined capital allocation.”

Financial Summary:

Corporate highlights and key activities during the three months ended March 31, 2026

Project Financing Update:

Figure 1:Lifezone Metals CEO Chris Showalter met with Hon. Balozi Khamis Mussa Omar, Tanzania’s Minister of Finance, and senior government officials in Washington, D.C., during the 2026 IMF/WBG Spring Meetings

Figure 2: Lifezone hosted a technical and environmental and social due diligence site visit at the Kabanga Nickel Project in Tanzania including stakeholder engagement with the communities

Figure 3: Acting U.S. Ambassador to Tanzania, Andrew Lentz and his delegation at the Kabanga Site

Technical and Operational Progress:

Figure 4: Production water borehole drilling at Kabanga Site, 132m deep, providing a yield of 28,000 L/H

Figure 5: AGS leveling task through the 220Kv transmission line to determine the ground profile for angle point No.29 at Nyakanazi substation

Occupational Health and Safety, Environment and Social Performance Progress:

Figure 6: The District Commissioner Hon. Mathias Kahabi and senior representatives from both Tembo Nickel and the district following the signing of the MoU for the implementation of 2025 CSR projects

Figure 7: Tembo Nickel donating gas stove sets to mothers at the Nyamiaga Hospital maternity ward and Nazareth Orphanage Centre in Ngara as part of International Women’s Day 2026

Figure 8: Tembo Nickel conducting groundwater sample collections at a Kabanga borehole for Q1 2026

Exclusivity agreement with the Government of Burundi regarding the Musongati Nickel Project:

Figure 9: Official signing of an exclusivity agreement with the Government of Burundi in Washington D.C., at the U.S. Department of State, hosted by Deputy Assistant Secretary of State for Central Africa and Commercial Engagement in the Bureau of African Affairs, Sarah Troutman

PGM Recycling Project:

Simulus Laboratories:

Figure 10: Continuous precious metals refinery test work at Lifezone’s Simulus Laboratories

Investor Webcast: 30 April 2026 / / 10:00 a.m. ET | 15:00 p.m. BST

Chris Showalter, CEO and Ingo Hofmaier, CFO, will be hosting a conference call and Q&A, today. Analysts and investors can register at: Lifezone Metals Q1 2026 Financial Results Summary Webcast

If you would like to sign up for Lifezone Metals news alerts, please register here.

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About Lifezone Metals

Lifezone Metals (NYSE: LZM) is committed to delivering cleaner and more responsible metals production and recycling. Through the application of our Hydromet Technology, we offer the potential for lower energy consumption, lower emissions and lower cost metals production compared to traditional smelting.

Our Kabanga Nickel Project in Tanzania is believed to be one of the world's largest and highest-grade development-ready nickel sulfide deposits. By pairing it with our Hydromet Technology, we are working to unlock a new source of nickel, copper and cobalt for the global battery metals markets and to empower Tanzania to achieve in-country beneficiation.

Through our US-based recycling partnership, we are working towards applying our Hydromet Technology to the recovery of platinum, palladium and rhodium from responsibly sourced spent automotive catalytic converters. Our process is expected to be cleaner and more efficient than conventional smelting and refining methods, supporting a circular economy for precious metals.

https://lifezonemetals.com

Forward-Looking Statements

Certain statements made herein are not historical facts but may be considered “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the “safe harbor” provisions under the Private Securities Litigation Reform Act of 1995 regarding, amongst other things, the plans, strategies, intentions and prospects, both business and financial, of Lifezone Metals Limited and its subsidiaries.

Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, and any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements may be accompanied by words such as “believes,” “estimates,” “expects,” “predicts,” “projects,” “forecasts,” “may,” “might,” “will,” “could,” “should,” “would,” “seeks,” “plans,” “scheduled,” “possible,” “continue,” “potential,” “anticipates” or “intends” “or the negatives of these terms or variations of them or similar terminology or expressions that predict or indicate future events or trends or that are not statements of historical matters; provided that the absence of these does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding future events, the estimated or anticipated future results of Lifezone Metals, future opportunities for Lifezone Metals, including the efficacy of Lifezone Metals’ hydrometallurgical technology (Hydromet Technology) and the development of, and processing of mineral resources at, the Kabanga Nickel Project, our approach to environmental stewardship, social responsibility, safety and governance (ESG), and other statements that are not historical facts.

These statements are based on the current expectations of Lifezone Metals’ management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Lifezone Metals and its subsidiaries. These statements are subject to a number of risks and uncertainties regarding Lifezone Metals’ business, and actual results may differ materially. These risks and uncertainties include, but are not limited to: general economic, political and business conditions, including but not limited to economic and operational disruptions; global inflation and cost increases for materials and services; capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; changes in government regulations, legislation and rates of taxation; inflation; changes in exchange rates and the availability of foreign exchange; fluctuations in commodity prices; delays in the development of projects and other factors; the outcome of any legal proceedings that may be instituted against Lifezone Metals; our ability to obtain additional capital, including use of the debt market, future capital requirements and sources and uses of cash; the risks related to the rollout of Lifezone Metals’ business, the efficacy of the Hydromet Technology, and the timing of expected business milestones; the acquisition of, maintenance of and protection of intellectual property; Lifezone’s ability to achieve projections and anticipate uncertainties (including economic or geopolitical uncertainties) relating to our business, operations and financial performance, including: expectations with respect to financial and business performance, future operating results, financial projections and business metrics and any underlying assumptions; expectations regarding product and technology development and pipeline and market size; events relating to environmental issues, social responsibility, safety and/or governance matters, expectations regarding product and technology development and pipeline; future acquisitions, partnerships, or other relationships with third parties; maintaining key strategic relationships with partners and customers; the timing and significance of contractual relationships; the effects of competition on Lifezone Metals’ business; the ability of Lifezone Metals to execute its growth strategy, the development and processing of the mineral resources at the Kabanga Nickel Project; the ability to finance the Kabanga Nickel Project, negotiations regarding the Framework Agreement and other commercial arrangements, the outcome of certain legal proceedings with Tanzania Revenue Authority, Lifezone’s ability to continue to operate as a going concern; obtaining additional capital, including use of the debt market, future capital requirements, and sources and uses of cash; manage growth profitably and retain its key employees; the ability of Lifezone Metals to reach and maintain profitability; enhancing future operating and financial results; complying with laws and regulations applicable to Lifezone Metals’ business; Lifezone Metals’ ability to continue to comply with applicable listing standards of the NYSE; our ability to comply with applicable laws and regulations, stay abreast of accounting standards, or modified or new laws and regulations applying to our business, including privacy regulation; and other risks that will be detailed from time to time in filings with the U.S. Securities and Exchange Commission (SEC); meeting future liquidity requirements and complying with restrictive covenants related to long-term indebtedness; and dealing effectively with litigation, complaints, and/or adverse publicity.

The foregoing list of risk factors is not exhaustive. There may be additional risks that Lifezone Metals presently does not know or that Lifezone Metals currently believes are immaterial that could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements provide Lifezone Metals’ expectations, plans or forecasts of future events and views as of the date of this communication. Lifezone Metals anticipates that subsequent events and developments will cause Lifezone Metals’ assessments to change.

These forward-looking statements should not be relied upon as representing Lifezone Metals’ assessments as of any date subsequent to the date of this communication. You should not place undue reliance on forward-looking statements in this communication, which are based upon information available to us as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. In all cases where historical performance is presented, please note that past performance is not a credible indicator of future results.

Except as otherwise required by applicable law, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data, or methods, future events, or other changes after the date of this communication.

Official signing of an exclusivity agreement with the Government of Burundi in Washington D.C., at the U.S. Department of State, hosted by Deputy Assistant Secretary of State for Central Africa and Commercial Engagement in the Bureau of African Affairs, Sarah Troutman

Tembo Nickel conducting groundwater sample collections at a Kabanga borehole for Q1 2026

Tembo Nickel donating gas stove sets to mothers at the Nyamiaga Hospital maternity ward and Nazareth Orphanage Centre in Ngara as part of International Women’s Day 2026

The District Commissioner Hon. Mathias Kahabi and senior representatives from both Tembo Nickel and the district following the signing of the MoU for the implementation of 2025 CSR projects

AGS leveling task through the 220Kv transmission line to determine the ground profile for angle point No.29 at Nyakanazi substation

Production water borehole drilling at Kabanga Site, 132m deep, providing a yield of 28,000 L/H

Acting U.S. Ambassador to Tanzania, Andrew Lentz and his delegation at the Kabanga Site

Lifezone hosted a technical and environmental and social due diligence site visit at the Kabanga Nickel Project in Tanzania including stakeholder engagement with the communities

Continuous precious metals refinery test work at Lifezone’s Simulus Laboratories

Lifezone Metals CEO Chris Showalter met with Hon. Balozi Khamis Mussa Omar, Tanzania’s Minister of Finance, and senior government officials in Washington, D.C., during the 2026 IMF/WBG Spring Meetings

LONDON (AP) — The Bank of England kept its main interest rate on hold at 3.75% Thursday as policymakers assess the economic impact of the Iran war and Tehran’s effective closure of the Strait of Hormuz, through which a fifth of the world’s crude passes. Other central banks have also held rates this week, including the U.S. Federal Reserve, the Bank of Japan and the European Central Bank, with all opting for no change as they gauge how long the volatility related to the conflict in the Middle East will persist.

Minutes from the Bank of England meeting showed that eight of the nine rate-setters voted to keep rates on hold while one member opted for a quarter-point hike. But there was a clear signal that interest rates could rise in coming months.

“We think this is a reasonable place given the situation of the economy and the unpredictability oft events in the Middle East,” said Bank Gov. Andrew Bailey. "Whatever happens, our job is to make sure that inflation gets back to the 2% target after the initial impact of the war on energy prices has passed.”

In an unusual development, the bank published a range of forecasts given the geopolitical uncertainties. It said that in a worst-case scenario where oil and gas prices stay higher for longer, U.K. inflation could rise to as much as 6.2% by early 2027 from 3.3% currently. It also considered several ways that events could unfold with a worst-case scenario leading to multiple rate rises and an increased risk of recession. Before the start of the Iran war on Feb. 28, there had been an expectation in financial markets that the Bank of England would cut rates given that inflation was predicted to fall back toward its 2% target during the spring. The war has since upended the bank’s predictions and wider global economic forecasts as the price of oil and other costs have spiked sharply higher. Energy prices have raced up again over the past few days as traders price in a growing expectation that the Strait of Hormuz will remain closed for a long time to come. Brent crude, the international standard, briefly jumped to over $126 a barrel at one point Thursday, its highest level since the aftermath of Russia’s full-blown invasion of Ukraine four years ago.

Bank of England policymakers will be keeping an eye on whether the evident inflation spike starts to spread through the economy, by way of higher wages, for example. They will also monitor how the oil price shock hits the economy and whether it leads to a recession, which would keep a lid on price rises.

Luke Bartholomew, deputy chief economist at asset management firm Aberdeen, said he thinks the recessionary risks will limit any second round inflation effects.

“But if oil prices continue to move higher, it is hard to see how the Bank avoids having to hike later this year,” he said.

Policymakers will also be alert to any upcoming action from Britain's Labour government to limit the inflation impact on households and businesses. Treasury chief Rachel Reeves, whose hopes over the cost-of-living have been blown off course by the crisis in the Middle East, has said she is ready to provide support when and if needed.

“The war in the Middle East is not our war, but it is one we have to respond to,” said Reeves.

FILE - Prices are shown on a board at a gas station in London, England, Monday, March 30, 2026. (AP Photo/Kin Cheung, File)

Britain's Chancellor of the Exchequer Rachel Reeves leaves 11 Downing Street to attend the weekly session of Prime Minister's Questions in parliament in London, Wednesday, April 29, 2026. (AP Photo/Kirsty Wigglesworth)