Geiger Counter Limited (the "Company")

15 May 2026

Portfolio Management Update

Further to the announcements by the Company on the 16^th and 26^th March 2026 concerning its investment management arrangements and the serving of protective notice with its investment manager, CQS (UK) LLP ("CQS"), part of the Manulife Group, the Company is continuing to consider a number of options.

In the meantime, pursuant to a sub-investment management agreement between CQS and Manulife Investment Management Limited ("Manulife Canada"), CQS will delegate portfolio management services in respect of the Company to Manulife Canada. The Company has provided its consent to this delegation.

Effective from the 18^th May 2026 two senior Manulife Investment Management Group portfolio managers, Diana Racanelli and Craig Bethune, will assume responsibility for the management of the portfolio. Keith Watson and Robert Crayfourd may provide advice in respect of the portfolio management process until their notice period expires on 2^nd June 2026. There is no change to the Company's investment process, strategy or operations. 

Diana Racanelli, CFA and Craig Bethune, CFA, based in Toronto, are senior portfolio managers at Manulife Canada, have been with Manulife Canada for the past 12 years.  Together Diana Racanelli and Craig Bethune manage USD544 million in metals & mining and energy assets, as well as a further USD1,096 million in metals & mining and resources exposure in team managed assets.

The Company considers this action to be in the best interests of shareholders as the Company continues to explore its options for the long term. A further update will be provided in due course.

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