• Independent testing confirmed VHD graphite's superior thermal performance
• Production scale-up progressed with larger blocks under development
• Appointment of new General Manager to support commercialization efforts
• Company to pursue US listing following due diligence

Green Critical Minerals Ltd (GCM) provided an update on its activities during the September 2025 quarter. Key highlights include:- Independent testing by the University of New South Wales confirmed that GCM's Very High Density (VHD) graphite blocks exhibit a coefficient of thermal expansion 8-12 times superior to conventional materials.- Finite Element modelling demonstrated the sector-leading heat sink performance of VHD graphite, showing it can accommodate 300-400W power loads at microchip operating temperatures of 70-85°C, significantly outperforming conventional materials.- Production scale-up progressed with successful manufacturing of VHD graphite blocks up to 60x100x60mm, with larger blocks up to 160mm thick and 200mm long under development to support global distribution.- The company appointed Mr. Tony Allen as General Manager - Commercial to support growing customer engagement and commercialization efforts.- Commercialization activities continued, including entry into the Korean market and planning for market entry into other Asian regions, as well as partnering with market entry and expansion experts.- GCM announced its decision to pursue a US listing following the completion of an extensive six-month due diligence program, which evaluated the benefits of complementing its existing ASX listing.- The company executed a $5.2 million Options Underwriting Agreement to support its corporate and operational objectives.- GCM ended the quarter with a cash balance of approximately A$12 million, including funds received from the exercise of options and the Options Underwriting Agreement.

GCM is rapidly developing its VHD technology and has commissioned the first module of a scalable production facility. The company is pursuing a US listing to access a significant growth runway in North America, driven by accelerating demand for advanced thermal management solutions across technology and electronics sectors.