Announcement • Aug 15
Greenroc Strategic Materials plc Provides an Update on Its Amitsoq Project and Pilot Processing Plant in Denmark GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is pleased to provide an update on its Amitsoq Project and pilot processing plant in Denmark. On 12 August 2026, most of the necessary equipment for the purification line at GreenRoc's active anode materials ("AAM") pilot plant in Denmark was being packed into containers for shipment to Denmark from Sepor Inc.'s premises in Florida, USA. The purification line includes reactor tanks, rinse tanks, slurry pumps, baking ovens, fume scrubber and drying ovens, along with dispenser tanks for chemicals. The units are expected to arrive at GreenRoc's plant in Hørsholm, Denmark by the end of September 2026. The equipment and purification line has been developed by Sepor in accordance with instructions from GreenRoc and its technical advisory partner, ProGraphite GmbH. At GreenRoc's pilot plant the specialists have commenced a new round of test trials with the graphite mills, working with several parameters. Additionally, the IPU and DTU researchers have conducted further development of the purification recipe, focussing on achieving the required purification level while optimising the amount and types of reagents, energy and handling stages. Drilling at Amitsoq is progressing well, with three holes now complete. Although the geotechnical measurements are proving to be more time consuming than anticipated, the field team is confident that all of the drilling and data acquisition required to initiate the Pre-Feasibility Study ("PFS") later in the year will be completed. As announced on 28 July 2026, the first drill hole, AM_DD_039, intercepted Lower Graphite Layer ("LGL") with 9.7m true thickness. Hole AM_DD_040 intercepted Upper Graphite Layer at ca 36m depth with 4.8m of true thickness and LGL at ca 93m depth with 9.2m of true thickness. The third hole, AM_DD_043, intercepted LGL at ca 137m depth with a true thickness of 21.3m. These considerable intersections, extending the known mineralisation further to the North from the drilling conducted in 2021 and 2022, testify to the extensive nature of the Amitsoq graphite orebodies. Announcement • Jul 28
Greenroc Strategic Materials plc Commences Phase III Drilling Programme At Amitsoq Graphite Deposit GreenRoc Strategic Materials Plc announced that the Phase III drilling programme has begun at the Amitsoq graphite deposit in South Greenland. After mobilising timber for drill platform construction in early July 2026 and building the first three drill platforms, the Company successfully mobilised drill rig and associated equipment on 15 July 2026. The drill programme is planned to proceed from now and throughout August. Drilling of the first hole AM_DD_039 began on 18 July and was completed on 23 July. Graphite ore in the hole was intersected from 107.15m to 119.51m, which corresponds to a true ore thickness of 9.7m. The ore represents the Lower Graphite Layer and was at the expected depth and thickness for the area. The Upper Graphite Layer is not present in this part of the deposit. Geotechnical data has been collected from the core and the team is currently conducting hydrogeological testing, including installation of a downhole groundwater monitoring probe, which will provide additional data for the Pre-Feasibility Study planned to be initiated later in the year. The graphite ore intersected will now be sampled and sent for laboratory analysis of the graphite content. Amitsoq is one of the highest-grade graphite deposits in the world with a combined Measured, Indicated and Inferred JORC Resource of 23.05 million tonnes at an average grade of 20.41% graphite, sufficient to sustain more than 20 years of mining. GreenRoc received an Exploitation Licence from the Government of Greenland in December 2025, valid for 30 years. The plans for the Amitsoq Project include the construction of a facility to further process the mined graphite into active anode material, an indispensable component of Li-ion batteries, and these plans have been independently and positively evaluated to pre-feasibility study stage. The Amitsoq Project was designated a Strategic Project by the EU in June 2025. The Project has also been ESG-certified by Digbee™, an independent platform which provides sustainability assessments for the mining industry. In October 2025, GreenRoc signed a binding secured loan facility for EUR 5.2 million from the Export and Investment Fund of Denmark, for the financing of the Company's work programme at Amitsoq and the AAM pilot plant. In December 2025, GreenRoc, together with its consortium partners DTU and IPU, was awarded up to DKK 10.448826 million (c. £1.2 million) by the Energy Technology Development and Demonstration Programme, a Danish government funding programme, for the project entitled "EU-Graphite: Building European production of graphite active anode material". New Risk • May 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£1.1m free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (UK£11.4m market cap, or US$15.2m). 
