Extension granted for Olserum REE Project

12 May 2025

European Green Transition plc

("European Green Transition", "EGT" or "the Company")

Olserum REE Project licence extension complete

Successful extension granted for Olserum REE Project

European Green Transition (AIM: EGT), a company developing green economy assets in Europe, is pleased to announce the granting of a four-year extension to June 2029 for the Olserum no. 21 license at the Olserum Rare Earth Elements ("REE") project in Sweden (in which the Company holds a 100% interest) by Bergsstaten, the Swedish Mining Authority.

The Olserum no. 21 license covers a 10.99km² region located in southeast Sweden, about 6km from the town of Gamleby and 25km northwest of the larger port town of Vastervik. The license area covers Olserum's historic resource estimate, consisting of 4.5Mt grading 0.6% TREO¹ in the indicated category and 3.3Mt grading 0.63% TREO in the inferred category, in addition to the region covering EGT's recent 1,500m drill programme, which delivered positive results with significant REE mineralisation evident adjacent to the historic resource at Olserum West and Djupedal, confirming the district scale potential of the Olserum REE Project.

The four-year license extension could be critical for any incoming acquiror or partner of the Olserum REE project and further strengthens the Company's position in discussions going forward.

Cathal Friel, Co-founder and Non-Executive Chairman, commented:

"Geopolitical uncertainty has highlighted the urgent need for Europe to establish a secure supply of REEs to support European industry. There are currently no active REE mines in Europe, and we believe the Olserum REE project will be of critical strategic importance to the region in the years ahead.

"This license extension is a considerable step in our plans to monetise the Olserum project, as we seek to reallocate resources towards pursuing near-term revenue generating opportunities. We believe Olserum is one of Europe's most attractive rare earth assets and the receipt of a four-year license extension validates the work we have completed to date and strengthens the Company's position in ongoing discussions with a third party through sale or partnership."

¹TREO - Total Rare Earth Oxides

Enquiries

European Green Transition plc

Panmure Liberum - Nominated Adviser and Broker

Camarco - Financial PR

Notes to Editors

European Green Transition plc (quoted on the AIM market of the London Stock Exchange under the ticker "EGT") is a business operating in the green transition space in Europe. EGT intends to capitalise on the opportunities created by Europe's transition to a green, renewables-focused economy and plans to expand its existing portfolio of green economy assets through M&A, targeting revenue generating businesses that support the green transition.

For more information, please go to  www.europeangreentransition.com  or follow us on X (formerly Twitter) and LinkedIn.