AAM Pilot Plant Update

GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is pleased to announce that it has successfully completed the construction, commissioning, and initial operational testing of the graphite anode mill circuit at the Company’s graphite Active Anode Materials (“AAM”) pilot plant in Denmark.

Highlights:

• All components of the graphite mill circuit successfully commissioned and tested in what the Directors believe is Europe’s first natural flake graphite pilot plant.
• The mill circuit, featuring both micronisation and spheronisation lines, is designed to produce spherical graphite for AAM.
• The full graphite mill line has a processing capacity of approximately 100kg of feedstock per day, yielding both main and fine-grained products.
• Initial test runs with 100kg of graphite concentrate were successful.
• Product evaluations are being conducted at GreenRoc’s in-house laboratory and will be supplemented by SEM imaging at the Technical University of Denmark.
• The only part of the pilot plant remaining to be added is the purification line, which is undergoing final design and equipment sourcing with expected installation in H2, 2026.

GreenRoc’s AAM pilot plant

GreenRoc is building a pilot processing plant to produce spherical purified graphite, a precursor material to AAM, from graphite concentrate produced at the Company’s planned graphite mine at Amitsoq in South Greenland. The complete pilot plant circuit will consist of a micronising mill line, a spheronising mill line and a purification line. The micronising line takes the natural graphite flakes from the ca. 95% graphite concentrate feedstock and first mills the graphite flakes to a narrow standard size of ca 20 micrometer (0.020mm or 20µm) using one QWJ60 mill (60cm diameter mill) with an integrated air classifier allowing only graphite grains of a certain maximum size to pass (see Figure 1).

After micronisation to a standard particle size, the graphite is passed several times through the spheronising line, consisting of one QWJ30 shaping mill (30cm diameter) also with a built-in air classifier, a secondary air classifier, a cyclone, and lastly a dust filter (see Figure 2).

The full line is capable of processing ca. 100kg of feedstock graphite per day, producing both a main product with a mean particle size (or D50) of ca 12-20µm and a finer-grained by-product with a D50 of 7-15µm, depending on the customer’s requirement.

The graphite mill lines were delivered to the Company’s premises at Hoersholm, Denmark in early March 2026 from a leading manufacturer of graphite mills in China. Since then, GreenRoc’s dedicated pilot plant team has been busy both building the mills and also fitting electrical wiring, the controls box, pressurised air, vents and exhaust mufflers etc. as well as conducting individual testing of various mill components.

On April 23, the first 100kg of test graphite material was processed through the microniser mill. The graphite feedstock test material being used is a -195 graphite concentrate (meaning a >95% graphite concentrate with grain size finer than 100 mesh or 150 micrometer) which is the typical feedstock product for making graphite AAM. After micronising the graphite particles, the graphite was run through the spheronisation line several times.

Figure 1. The micronising mill line.

These initial tests have been very successful with all equipment running smoothly. With some minor modifications over the coming week, mostly to improve monitoring and to increase safety, the mills are expected to be ready for test production to produce spherical graphite honoring the battery industry’s requirements and for further calibrating and optimising of the controls.

The products from this initial run are being evaluated at GreenRoc’s in-house laboratory facilities, hosting both Malvern laser particle and tap-density analysers, which will be supplemented using scanning electron microscopy (“SEM”) imaging facility at the Technical University of Denmark.

Figure 2. The spheronising mill line, with various air classifiers to separate spheronised graphite from fine-grained graphite by-products.

GreenRoc’s CEO, Stefan Bernstein, commented:

“We are delighted with the successful commissioning of the graphite mill lines at our AAM pilot plant, which we believe to be Europe’s first natural flake graphite pilot plant, marking a significant milestone in our journey to supply high-quality spherical purified graphite to European customers. The smooth commissioning and operation of the mills, a process which has taken less than two months, is a testament to the dedication and expertise of GreenRoc’s pilot plant team. We look forward to optimising pilot production and advancing towards commercial product quality.”

**ENDS**

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About GreenRoc

GreenRoc Strategic Materials Plc is an AIM-quoted UK public company focused on developing the Amitsoq Graphite Project in Greenland into a producing mine to meet critical demand from Electric Vehicle (‘EV’) manufacturers in Europe and North America for new, high grade and conflict-free sources of graphite. 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 (Mt) at an average grade of 20.41% graphite, sufficient to sustain several decades of mining. GreenRoc received an Exploitation Licence from the Government of Greenland on 8 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-batteries – which plans have independently and positively evaluated to prefeasibility study stage.

GreenRoc has entered into a partnership with the Norwegian battery manufacturer Morrow Batteries to establish a regional supply chain. The Amitsoq Project has been designated a Strategic Project by the EU and in March 2025 it was also 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 (“EIFO”), for the financing of the Company’s work programme. In December 2025, GreenRoc, together with its consortium partners DTU and IPU, has been granted a sum of up to DKK 10,448,826 (ca £1.2m) for its project entitled “EU-Graphite: Building European production of graphite active anode material” (“EU-Graphite”) from the Energy Technology Development and Demonstration Programme (“EUDP”), a Danish government funding programme.

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