Business Combination LOI between Plum Acquisition Corp. IV and American Critical Resources

Plum Acquisition Corp. IV (Plum IV), a special purpose acquisition company, and American Critical Resources (ACR), a subsidiary of Controlled Thermal Resources Holdings Inc. (CTR), have entered into a non-binding letter of intent for a proposed business combination. ACR is focused on advancing CTR's Hell's Kitchen development in California, aiming to produce renewable baseload electricity and lithium carbonate. The project also involves research into extracting other critical minerals. The combination is intended to accelerate ACR's development, strengthen its financial position, and provide access to U.S. public markets. Rod Colwell, CEO of CTR, highlighted ACR's role in U.S. energy and national security priorities, while Kanishka Roy, CEO of Plum IV, emphasized the opportunity to support a strategic U.S. initiative and create long-term shareholder value. The transaction is subject to due diligence, definitive agreement negotiation, and customary closing conditions, including board and shareholder approvals. Further details will be disclosed upon execution of a definitive agreement. The filing also includes forward-looking statements and information regarding participants in the potential solicitation.