80 Mile PLC, the AIM, FSE, and OTC listed exploration and development company with projects in Greenland, Finland and Italy, announces its final results for the year ended 31 December 2025.

The accounts will be distributed to shareholders tomorrow and will be available on the Company's website shortly.

2025 Highlights

• Agreements reached with US partners to drill the Jameson and Disko projects, with more than US$100 million of committed expenditure across the two projects over the next 18 months
• Free carried across Jameson and Disko, with a 30% and 49% free carry interest respectively
• Independent report by Sproule ERCE estimates 13.03 billion barrels (P10) of un-risked recoverable prospective oil resources across the upper levels of the Jameson Basin
• £2 million raised in December 2025 to advance the development of the Company's assets held by its 100%-owned subsidiary, Hydrogen Valley
• Sale of Kangerluarsuk project to Amaroq, reflecting the Company's ongoing strategy to monetise non-core assets
• Appointment of Ingo Hofmaier as Non-Executive Director, further strengthening the Board of Directors

Post Period Highlights

• Exploration drilling at Disko is set to commence this week following the approval of the programme and the mobilisation of drill rigs. The programme was recently expanded from 5,000 metres ("m") to 9,000m
• Greenland Energy Company, 80 Mile's JV partner for Jameson, commenced trading on NASDAQ (GLND) and subsequently raised US$70 million, with net proceeds to fund exploration and appraisal activities in the Jameson Land Basin
• Received written guidance from Greenlandic regulator confirming that no third-party licence can be granted over the Company's concessions covering the Jameson Land Basin.
• Awarded AIM Company of the Year at the 2026 Online Money Awards

CHAIRMAN'S REPORT

2025 was a transformative year in all respects. Our carefully laid plans to seek US partners for our Greenland Projects has borne fruit with more than US$100m of committed expenditure on Jameson and Disko drilling over the next 18 months with 80 Mile being free carried throughout.

The restructuring efforts on expenditure commitments and staffing levels were completed, resulting in substantial savings.  During 2026, we expect to see the fruits of our labour in terms of intense drilling activity across the two core projects and value creation for shareholders.

Key achievements during the period included the inking of two value accretive joint ventures related to our strategic metal and oil and gas assets, two successful fundraisings, finalisation of the corporate rebrand, asset divestments and a renewed focus on marketing in the United States. All of which has collectively repositioned the Company to capitalise on new emerging opportunities in our core sectors. It's also why our share price at time of writing has appreciated significantly since the start of 2025.

Throughout 2025, we continued the strategy of portfolio rationalisation, with a focus on attracting US based investors into our two large scale Greenlandic projects. Coupled with ongoing cost-saving initiatives across the business, we are now more sustainable and resilient as an organisation. Importantly, the company is free carried across both Disko and Jameson with a 49% and 30% free carry interest, respectively with US$100m of committed exploration starting in the next several months. This disciplined approach to our joint ventures allows us to operate more cost effectively while maintaining a large, but risk free, exposure to our two major commodity projects in the complex and unpredictable world that international exploration has become.

The agreement with USFM Corporation ("USFM") allows us to manage the programme across the Disko Project and earn a 10% management fee. A great result for shareholders. At Jameson, we are free carried on two 3,500m drill holes expected to cost more than US$30m, each expected to spud towards the end of 2026 as well as progressing the restart of our biofuel facility in Italy.

Financial Review

In June 2025, the sale of our lead zinc project; Kangerluarsuk, by Disko to AIM and TSX listed Amaroq has returned significant value to shareholders whilst maintaining exposure to future success. That transaction included US$500,000 in shares and longer dated success payments. Project rationalisation, management fees and free carried expenditure provide a robust capital base and income with limited overheads, enabling a renewed focus on shareholder value - something that was difficult to achieve given legacy financial issues inherited from previous management.

Entering 2026, 80 Mile is in a strong financial position following the successful monetisation of non-core assets and reduction in excess staffing requirements. 80 Mile is lean, focused, and with well-funded US counterparts on our two most significant projects and an emerging biofuels production story, we are well positioned to capitalise on this success.

Outlook

The importance of developing new sources of energy, critical minerals and industrial gases continues to grow and get global attention. 80 Mile is strategically positioned to play a vital role. Our operations are located in stable, resource-rich Western jurisdictions that support commodity development, reinforcing the security of our assets and our confidence in future success.

Partnerships remain central to our strategy. Our joint ventures at Jameson and Disko, along with close collaboration with Greenlandic and Danish authorities, and new financing relationships, all underpin the value of our project pipeline. With drilling scheduled to commence across both projects later this year, 80 Mile is poised to deliver significant value creation for shareholders, as the true potential of these projects will be unlocked through material drilling campaigns to be executed.

As announced on 28 October 2025, 80 Mile acquired 100% interest in Hydrogen Valley, a biofuels project in Italy. Located in Italy's Special Economic Zone ("SEZ"), the production complex has facilities for biodiesel, ESBO, and glycerine production. The plant is strategically positioned for revenue generation, with production planned to recommence shortly.

These developments underscore our long-term strategy - delivering value through a diversified portfolio in energy, critical minerals and industrial gas markets.

On behalf of the Board, I sincerely thank our shareholders for their trust and support. In a world increasingly shaped by geopolitical volatility and resource nationalism, we remain focused on building long-term value. With a dedicated team and a clear strategy, we look forward to a productive and transformative 2026.

Michael Hutchinson, Non-Executive Chairman

KeyFacts Energy: 80 Mile Greenland country profile