New Separation Equipment Processing Material

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 update shareholders on a significant operational development at its 48.35% owned subsidiary and the UK's first industrial-scale lithium-ion battery recycler, Recyclus Group Ltd ("Recyclus").

New separation equipment operational

New separation equipment has recently been installed at Recyclus's Wolverhampton facility and is now operational. The equipment has been designed to recover copper (Cu) and aluminium (Al) as discrete commercial outputs from processed battery materials. Copper and aluminium have not previously been captured as separate revenue streams by Recyclus, and their recovery represents a material addition to the output value of each tonne processed.

Once fully integrated into the primary processing line, the new equipment will enable black mass, copper and aluminium to be separated and recovered in a single continuous process. This represents a significant operational advance, improving both the efficiency and the commercial output of each processing run going forward.

Bridge facility

In order to facilitate the prompt deployment of the new equipment, Technology Minerals has provided a short-term bridge loan of £100,000 to Recyclus (the "Bridge Facility"), carrying applicable interest. The Bridge Facility is expected to be repaid in full, from the proceeds of materials processed, by 20 July 2026, as described further below.

Expected commercial impact

The equipment is expected to deliver improved black mass recovery per tonne of material processed. In addition, the recovery of copper and aluminium as separately saleable outputs will generate revenue streams not previously available to Recyclus. Based on current London Metal Exchange pricing and applicable treatment and refining charges, the Company's expected net payable for copper is approximately £8,000 per tonne and approximately £1,300 per tonne for aluminium. The Board expects these recoveries to make a material contribution to revenue per tonne of feedstock processed.

Reprocessing of previously processed material held on site commenced immediately upon installation of the equipment. Approximately 180 tonnes remain to be processed, containing recoverable black mass, copper and aluminium. The Board expects reprocessing to be completed within approximately 12 weeks, with proceeds expected to repay the Bridge Facility in full.

The Board wishes to make clear that primary processing operations at the Wolverhampton facility have continued with the only interruption being the period of installation of the new plant. Batteries have continued to be received and processed through the facility on an ongoing basis. The stockpile described above represents a separate, discrete stream of material that had already completed primary processing and is entirely distinct from the Company's regular incoming feedstock and ongoing production activity.

The Board will provide a further update on operational performance as the reprocessing programme progresses.

Strategic context

This development reflects the Board's focus on extracting maximum value from Recyclus's existing processing capacity. The Company is advancing a number of additional strategic initiatives and will update shareholders in due course.

Alex Stanbury, CEO of Technology Minerals and Director of Recyclus, said: "We are pleased to announce that the equipment is now operational and already processing material, representing a significant milestone for Recyclus. This capability unlocks copper and aluminium as new commercial revenue streams, and enables the simultaneous recovery of all three outputs, black mass, copper and aluminium, in a single continuous process.

We have approximately 180 tonnes of legacy material to work through, which we expect to complete within twelve weeks. Importantly, this sits entirely alongside our ongoing operations. This development demonstrates exactly how we intend to build value at site: systematically, efficiently, and with a direct line of sight to revenue."