Technology MoU signed with international AAM manufacturer drawdown of EUR 1,050k of EIFO loan fund

Greenrock Strategic Materials PLC (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is pleased to announce that it has signed a non-binding Memorandum of Understanding (“Memorandum of understanding“) a leading manufacturer and supplier of active anode materials with (“Mango“) to major global automotive OEMs and battery cell manufacturers for a technology license agreement that will enable Greenrock to coat and test Amitsok spherical pure graphite (“SPG“) product and ultimately to produce coated SPG in Greenrock’s planned full-scale production plant.

GreenRock is also pleased to announce that it has secured a second tranche of loan amounting to €1,050,000 (approximately £900k) from the Danish Export and Investment Fund (“EIFO”) to cover operating costs related to the development of the Amitsok graphite deposit and AAM pilot plant.

MoU for AAM coating technology

From 2023, Greenrock is in regular contact with a leading global industry group specializing in natural graphite-based anode materials (“global manufacturer“) Amitsok regarding access to its leading technology for the coating of SPG. These discussions have now led to the signing of a Memorandum of Understanding which provides a clear roadmap for the negotiation of binding agreements for the licensing of the technology.

The purpose of the MOU is to set out the key terms of the agreements under which the global manufacturer will provide Greenrock with access to its market leading coating technology. Coating the spheroidal graphite is the third and final step in making AAM, and comes after spheroidization and purification.

Under the MOU, the parties have agreed to cooperate to settle the terms of a binding work consignment agreement, under which GreenRock will have its Amitsok SPGs coated and tested by the global manufacturer in battery condition to assess performance and provide data, which GreenRock can use to refine its products and contact offtakers. Coating and testing will take place at global manufacturer facilities.

The MOU also sets out key terms, including payment terms, of a binding technology license agreement to follow the trial phase, which will provide Greenrock with long-term access to the global manufacturer’s market-leading coating technology so that the company can incorporate a final coating phase within its full-scale commercial AAM plant.

EIFO drawdown; use of funds

The funds have been drawn down in accordance with the convertible loan agreement between EIFO and GreenRoc announced by the company on 22 October 2025 and will be used for the following aspects of the work programme:

Amitsok graphite deposit

– Conducting pre-tests on a sub-sample of 18 tonnes of bulk sample collected underground at Amitsok in autumn 2025 (see announcement on 6 November 2025)

– Anticipated downpayment of drill contract

– Preparation of leaching test on Amitsok material related to Environmental Impact Assessment.

AAM Pilot Plant

– Hydrofluoric acid (“HF”)-free purification optimization test function

– Other expenses related to electrical installation, wiring and plant installation in the warehouse.

– Payment of purification plant

– Acquisition of testing equipment for QC on spheroidal graphite production.

EIFO loan facility

Details of the CLA with EIFO were set out in the company’s announcement of 22 October 2025. After this deduction, €3,301,825 of funds remain available through the loan, which is estimated to be sufficient to cover the entire 2026 work programme. The overall work program for 2026 will include the Phase III drilling programme, processing of a full 18t bulk graphite ore sample and construction and operation of the AAM pilot plant in Denmark. It is also planned that the Amitsok Mine Prefeasibility Study could be initiated by the end of the year.

Under the terms of the agreement, EIFO loans are not repayable or convertible for five years from the first withdrawal, which is December 2030.

GreenRock CEO Stephen Bernstein commented:

“This MoU with a leading international AAM manufacturer further strengthens our technological edge with the goal of providing GreenRock with access to market-leading coating technology, placing GreenRock at the forefront of sustainable anode material production. The support provided by the EIFO Loan Facility is instrumental in enabling us to execute our 2026 work program and move towards full-scale operations. “I emphasize that all this work can now be done without dilution to existing shareholders thanks to the EIFO.”

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forward-looking statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market, financial and business conditions, competition for and availability of qualified employees and contractors, regulatory processes and practices, technical issues, new legislation, uncertainties as a result of potential delays or changes in plans, uncertainties as a result of operating in a new political jurisdiction, uncertainties regarding the results of exploration, Uncertainties, including uncertainties regarding the timing and grants of prospecting rights, regulatory and other third party consents and approvals, uncertainties regarding the ability of the Company or any third party to finance, execute and implement future plans and programs, and the occurrence of unanticipated events. Actual results may differ materially from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

About Greenrock

GreenRock Strategic Materials PLC is an AIM-quoted UK public company focused on developing the Amitsok graphite project in Greenland into a producing mine to meet the significant demand for new, high-grade and conflict-free sources of graphite from electric vehicle (‘EV’) manufacturers in Europe and North America. Amitsok is one of the highest grade graphite reserves in the world with a combined measured, indicated and inferred JORC resource of 23.05 million tonnes (MT) at an average grade of 20.41% graphite, enough to sustain several decades of mining. GreenRock received an exploitation license from the Government of Greenland on 8 December 2025, valid for 30 years.

Plans for the Amitsok project include the construction of a facility to further process mined graphite into active anode material – an essential component of Li-batteries – the plans of which have been independently and positively evaluated at the pre-feasibility study stage.

GreenRock has partnered with Norwegian battery manufacturer Morro Batteries to establish a regional supply chain. The Amitsok project has been designated a strategic project by the European Union and in March 2025 it was also ESG-certified by Digbee™, an independent platform that provides sustainability assessments for the mining industry. In October 2025, GreenRock signed a binding secured loan facility of EUR 5.2 million from the Danish Export and Investment Fund (“EIFO”) to finance the company’s work programme. In December 2025, Greenrock, together with its consortium partners DTU and IPU, has been awarded a sum of up to DKK 10,448,826 (ca £1.2m) from the Energy Technology Development and Demonstration Program (“EUDP”), a Danish government funding programme, for the project entitled “EU-Graphite: Building European Production of Graphite Active Anode Material” (“EU-Graphite”).

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