Extension of PUSU Deadline

On 8 September 2026, the boards of 80 Mile and Greenland Energy Company (“Greenland Energy”) announced that they had agreed indicative terms for a merger through an all-share acquisition of 80 Mile by Greenland Energy (the “Transaction”).

Greenland Energy was required, pursuant to Rule 2.6(a) of the Code, by no later than 5.00 p.m. on 6 October 2026, (“PUSU Deadline”) either to announce a firm intention to make an offer for 80 Mile, under Rule 2.7 of the Code, or announce that it does not intend to make an offer for 80 Mile, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies.

Both Greenland Energy and 80 Mile have commenced confirmatory due diligence on each other and are constructively advancing negotiations on the definitive transaction documentation. Given the cross-border nature of the Transaction and to allow Greenland Energy to complete its due diligence, the Board of 80 Mile has requested, and has obtained, the consent of the Panel on Takeovers and Mergers (the “Panel”) to extend the PUSU Deadline by which Greenland Energy is required, pursuant to Rule 2.6(c) of the Code, either to announce a firm intention to make an offer for 80 Mile in accordance with Rule 2.7 of the Code, or to announce that it does not intend to make an offer for 80 Mile.

The PUSU Deadline has been extended in accordance with Rule 2.6(c) of the Code and Greenland Energy is now required by no later than 5.00 p.m. (London time) on 3 November 2026 (the “New PUSU Deadline”) to either announce a firm intention to make an offer for 80 Mile in accordance with Rule 2.7 of the Code or announce that it does not intend to make such an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended further with the consent of 80 Mile and the Panel in accordance with Rule 2.6(c) of the Code.

Robert Price, Chief Executive Officer of Greenland Energy commented: “We already know the business of 80 Mile well — we've been partners in Greenland since our inception. Bringing our two companies together would be a natural next step. Our businesses are closely aligned, and combining them would remove certain duplication while creating a single, stronger platform. What this transaction adds is financial strength: we bring a deeper shareholder base, which means the combined company would be far better positioned to fund growth than either of us could standalone.”

Mike Hutchinson, independent Chairman of 80 Mile commented: “Because the proposed transaction is structured as an all-share exchange, 80 Mile shareholders will maintain exposure to the existing business in a stronger form via shares in an enlarged U.S. listed business. The combined entity will benefit from a leaner corporate structure and consolidated expertise, allowing management to focus more resources on the assets themselves rather than the administrative complexity of managing a joint venture. Our management is supporting Greenland Energy to complete its due diligence exercise while both sides work closely together drafting the necessary transaction documents.”

There can be no certainty that any firm offer will be made for the Company. Discussions remain ongoing, confirmatory due diligence has not been completed and the parties have not entered into definitive transaction documentation.

This announcement has been made with the prior consent of Greenland Energy.

Pursuant to Rule 2.5 of the Code, Greenland Energy reserves the right to introduce other forms of consideration and/or vary the mix or composition of consideration of any offer and vary the transaction structure. Greenland Energy also reserves the right to amend the terms of any offer (including making the offer at a lower value (but for the avoidance of doubt on no less favourable terms than as required by Rule 6 of the Code, save with the consent of the Panel):

• with the recommendation or consent of the 80 Mile board;
• if 80 Mile announces, declares or pays any dividend or any other distribution or return of value to shareholders after the date of this announcement, in which case Greenland Energy reserves the right to make an equivalent reduction to the terms of its proposal;
• following the announcement by 80 Mile of a Rule 9 waiver pursuant to the Code; or
• if a third party announces a firm intention to make an offer for 80 Mile.

The Board of 80 Mile will make a further announcement in due course, and as appropriate.

80 Mile continues to remain in an ‘offer period’ in accordance with the rules of the Code and the attention of 80 Mile shareholders and Greenland Energy shareholders is drawn to the continuing disclosure requirements of Rule 8 of the Code, which is summarised below.