USFM Update

80 Mile PLC

14 July 2026

14 July 2026

USFM Update

80 Mile PLC ('80 Mile' or the 'Company'), the AIM, FSE, and OTC listed exploration and development company with projects in Greenland, Finland and Italy, notes yesterday's announcement by its joint venture partner for the Disko-Nuussuaq Project ("Disko"), USFM Corporation ("USFM"), regarding its proposed merger with Nasdaq-listed Twin Vee PowerCats Co (Nasdaq:VEEE) ("Twin Vee").

80 Mile is not a party to the proposed transaction and will provide further updates only as appropriate. USFM and Twin Vee expect the transaction to conclude in Q3 or Q4 2026, at which point the combined company is expected to trade on NYSE American.

80 Mile looks forward to continuing its close collaboration with USFM on the 2026 exploration drilling programme at the Disko and will provide shareholders with further updates on drilling progress and exploration results as they become available.

For further information please visit http://www.80mile.com or contact:

	80 Mile plc	enquiry@80mile.com
Ewan Leggat / Caroline Rowe / Devik Mehta	SP Angel Corporate Finance LLP (Nominated Adviser and Broker)	+44 (0) 20 3470 0470
Harry Ansell / Katy Mitchell / Andrew de Andrade	Zeus Capital Limited (Joint Broker)	+44 (0) 20 3829 5000
Megan Ray / Said Izagaren	BlytheRay (Media Contact)	+44 (0) 20 7138 3204 80mile@blytheray.com

About 80 Mile PLC

80 Mile Plc is listed on London's AIM market under the ticker 80M, the Frankfurt Stock Exchange under the symbol S5WA, and traded on the U.S. OTC Market under the ticker BLLYF. 80M is an exploration and development company focused on Hydrocarbons and High-Grade Critical Metal projects in Greenland and an industrial gas and biofuels business in Italy. 80 Mile offers both portfolio and commodity diversification focused on hydrocarbons, base and precious metals, while expanding into sustainable fuels and clean energy solutions in Tier 1 jurisdictions. 80 Mile's strategy is centred on advancing key projects while creating value through partnerships and strategic acquisitions.

80 Mile's Jameson Project covers 8,429km² across three licences in East Greenland and represents one of the world's largest remaining untapped gas and liquids-rich basins. An independent 2025 assessment by Sproule ERCE estimated the basin contains 13.03 billion barrels (P10) of recoverable oil, with 80 Mile's retained interest equating to 3.9 billion barrels. In 2025, a milestone agreement with March GL (to be renamed Greenland Energy Co, NASDAQ: GLND) enabled plans for two fully funded 3,500-metre drill holes in the second half of 2026, after which GLND will earn a 70% interest in the Jameson Project, leaving 80 Mile with 30%.

The Disko-Nuussuaq Project, located in West Greenland, covering a district-scale 3,020km² area. Disko is recognised as a world-class geological setting for copper, nickel, cobalt and PGEs, with potential for a Tier-1 nickel-copper discovery analogous to Siberia's Norilsk Nickel District. The project features multiple walk-up drill targets and which includes seven large, high-priority geophysical anomalies. In late 2025, the company entered into a JV agreement with USFM Corporation under which USFM will fund US$30 million in drilling-related expenditure, including US$10 million in spring/summer 2026, to accelerate drilling and resource definition at Disko. The funding structure will allow 80 Mile to retain operational leadership during the project's critical early stages.

The Dundas Project, located on Greenland's northwest coast, is recognised by independent bodies as the world's highest-grade ilmenite project and the second- largest titanium occurrence globally after Russia. The area hosts high-purity ilmenite, the primary mineral for titanium. Dundas has a JORC-compliant Mineral Resource of 117 million tonnes at 6.1% ilmenite, with further upside highlighted by a late-2024 maiden exploration target of up to 540 million tonnes of additional ilmenite-bearing material. A recent survey by Geological Survey of Denmark and Greenland further impresses on the prospectivity of the area with an estimate of up to 17 billion tonnes (non-JORC) of pure ilmenite within the broader province. With a completed bankable feasibility study and all exploitation permits in place, the project is positioned as a major near-term revenue opportunity for 80 Mile as the company seeks development partners.

80 Mile, through 100% ownership of Hydrogen Valley Ltd, is advancing the Greenswitch Ferrandina Plant in Basilicata, Italy. This fully integrated chemical facility is undergoing final maintenance to commence production of biofuels and Sustainable Aviation Fuel (SAF). Strategically located near the Port of Taranto and within a Special Economic Zone (SEZ), the plant is poised to contribute significantly to Europe's energy transition by producing up to 50,000 tonnes of biodiesel annually, with future plans for green hydrogen production. The facility's advanced infrastructure and strategic location underscore 80 Mile's commitment to sustainable energy solutions and regional economic development.

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