Greenland Energy (GLND) Proxy filing summary

Executive summary

• Recommended all-share acquisition would consolidate 100% of Jameson Land Basin licenses in one Nasdaq-listed energy and critical minerals vehicle.

• Combining 80 Mile’s portfolio with capital-markets access and development capability is expected to streamline operations and reduce duplicated functions.

• Greenland Energy had USD 37.4 million in cash and cash equivalents as of June 30, 2026; the stronger funding position is expected to support working capital and growth investment.

• 80 Mile has access to a £3 million unsecured interim loan to protect business continuity.

Voting matters and shareholder proposals

• 80 Mile shareholders would receive 0.0079485 newly issued common shares per share; the terms value each 80 Mile share at 1.28 pence and its fully diluted share capital at ~£74 million.

• Offer terms represent a ~71% premium to 80 Mile’s September 7, 2026 closing price; post-completion ownership is expected to be ~50% for each shareholder group.

• Completion requires approval by both shareholder groups, court sanction of the Scheme, Nasdaq admission of new shares, and applicable regulatory and Greenlandic governmental consents or confirmations.

Board of directors and corporate governance

• The board unanimously approved the Combination and intends to recommend that shareholders vote in favor; 80 Mile’s independent directors intend to recommend the Scheme unanimously.

• Directors on both boards who hold shares irrevocably committed to vote their beneficial holdings in favor.