Restoration of Trading and Operational Update

Technology Minerals Plc (LSE: TM1), the first UK listed company focused on creating national resource and manufacturing resilience through a sustainable circular economy for battery metals and other critical resources, is pleased to announce that, following the publication of its annual report and accounts for the year ended 30 June 2025 (the "Accounts"), the Financial Conduct Authority ("FCA") has lifted the temporary suspension of the listing of the Company's ordinary shares on the Official List of the FCA. This suspension was introduced on 3 November 2025 pending the publication of the Accounts. The Company's ordinary shares have now been restored to trading on the Main Market of the London Stock Exchange.

Capital and Anticipated Placing

As announced on 15 January 2026, the Company completed a £350,000 fundraise through the issue of 350,000,000 new Ordinary shares at a price of 0.1 pence each. £150,000 of this was subscribed by incoming non-executive directors Nick Bridle and Mick Cataldo, demonstrating their personal financial commitment to the Company's prospects.

The Company is working with Fortified Securities and Oberon Capital to progress the Anticipated Placing as previously announced on 15 January 2026. The Anticipated Placing is intended to provide funds to satisfy the settlement sums due in cash to Jonathan Swann and Atlas Special Opportunities II, LLC, plus providing at least 12 months working capital for the Company. A further announcement will be made in due course regarding the timetable and terms of the Anticipated Placing.

Company Actions

The Company has taken a number of steps to strengthen its position ahead of the Anticipated Placing. Conditional settlements have been agreed with the Company's major convertible loan note holders, Jonathan Swann and Atlas Special Opportunities II, LLC, on terms previously announced, which will result in a material positive adjustment to the Company's balance sheet upon completion of the Anticipated Placing. The Company is in active discussions with its creditors and is making good progress towards further settlements. Directors have agreed to defer fees owed to them, with a portion to be settled in new Ordinary Shares and the balance payable in cash following completion of the Anticipated Placing. The board has also taken steps to reduce the Company's operational cost base.

Recyclus Group

Recyclus Group, the Company's 48.35% owned subsidiary and the UK's first industrial-scale lithium-ion battery recycler, continues to make strong commercial and operational progress. Recyclus achieved 179% year-on-year revenue growth in 2025 and in March 2026 achieved its highest-ever monthly battery intake of over 140,000kg, reflecting accelerating market demand. Recyclus is a participant in Project COMET, the £8.1m government-backed consortium with Jaguar Land Rover, Mint Innovation and WMG at the University of Warwick.

The Company's inter-company loan to Recyclus of £9.6 million has been restructured on commercial terms including security, board representation and interest, as announced on 5 March 2026. The Company will provide a further update on Recyclus in the coming days.

Risk Statement

Notwithstanding the above, the directors confirm that the Company and its group of companies has limited cash reserves at the time of restoration and has historically been loss making. Its future capital needs are uncertain and will be influenced by a wide range of factors including the rate at which the Company may be able to grow its revenues and realise value from its portfolio assets. Accordingly, there can be no assurance that the Company will not need to raise additional funds in the future. There can be no certainty when, or if, the Group will achieve profitability or positive operating cash flow. The failure to raise such funds means the Group could continue to have going concern challenges and the terms of the conditional settlements with creditors that have been disclosed may not be capable of being performed without further variations.

CEO Statement

Alex Stanbury, Chief Executive Officer of Technology Minerals Plc, said:

"Today marks a significant turning point for Technology Minerals. The restoration of trading brings to a close a period of necessary but demanding preparation, during which we have filed audited accounts, restructured our balance sheet and reached conditional settlements with our major lenders.

"The UK faces a growing strategic imperative to build domestic resilience in critical minerals, battery recycling and advanced manufacturing. Technology Minerals is positioned to address that imperative directly, through our holding in Recyclus and through the strategic opportunities we are developing with our incoming non-executive directors Nick Bridle and Mick Cataldo.

"Recyclus is delivering strongly and we look forward to sharing a fuller update in the coming days. We are working with Fortified Securities and Oberon Capital to conclude the Anticipated Placing and I am confident in the opportunity ahead."