Receipt of Letter Before Claim

(LON:GCM) GCM Resources plc announced that it has received a pre-action letter of claim from Trephina Assets Limited, the personal service company of the Company’s Chief Executive Officer, Datuk Michael Tang. The letter demands immediate repayment of £793,600 in principal, plus 8% annual interest on each £24,800 monthly management fee from the end of the relevant month until payment, with all sums due by 31 October 2026. As at 30 June 2025, the amount owing to Datuk Michael Tang’s management services company was £793,600. According to the Company’s records, as at 30 September 2026, the total debt outstanding, including fees and accrued interest of £74,198, totals £867,798. The Letter Before Claim states that if payment is made on 31 October 2026, the total amount due is £1,230,450. The Company agrees with the principal amount but disputes the total sums sought, particularly the interest claimed. GCM Resources plc is considering its potential legal avenues but intends to amicably resolve the Letter Before Claim, though there is no certainty an agreement will be reached. As at 30 October 2026, the Company held approximately £1.82 million in cash. GCM Resources plc has identified a high-quality coal resource of 572 million tonnes (JORC 2004 compliant) at the Phulbari Coal and Power Project in north-west Bangladesh. The Phulbari coal mine can support some 6,600MW of power generation using the latest highly energy efficient technology. GCM requires approval from the Government of Bangladesh to develop the Phulbari Project. The Company’s strategy is to link its mine proposal to supplying coal to the Government of Bangladesh’s existing and planned coal-fired power plants and/or those developed with development partners. GCM aims to deliver a practical power solution to provide the cheapest coal-fired electricity in Bangladesh, in a manner amenable to the Government of Bangladesh. The Company will provide further updates in due course.

Warrants Exercise and Issue of Equity

(LON: GCM) GCM Resources plc announces the issue of 1,000,000 new ordinary shares of 1 pence each in the Company. The Company received notice to exercise warrants over 1,000,000 new Ordinary Shares at an exercise price of 6 pence per warrant, raising gross proceeds of £60,000. Application has been made to the London Stock Exchange plc for the 1,000,000 new Ordinary Shares to be admitted to trading on AIM, with Admission expected to become effective and dealings to commence at 8.00 a.m. on or around 24 August 2026. Following Admission, the Company's issued share capital will comprise 375,986,365 Ordinary Shares. GCM Resources plc has identified a high-quality coal resource of 572 million tonnes (JORC 2004 compliant) at the Phulbari Coal and Power Project in north-west Bangladesh. The Phulbari coal mine can support some 6,600MW utilising the latest highly energy efficient power generating technology. GCM requires approval from the Government of Bangladesh in order to develop the Project.