Significant events during the period October – December 2025

• A directed share issue contributed about SEK 800 million and a rights issue contributed about SEK 850 million, before total issuance expenses of about SEK 50 million, corresponding to about 3,3 percent.
• The water treatment plant, WTP 1000, was inaugurated as planned on 22 October.
• A mandate letter was signed with Société Genéralé and ING to arrange a structured debt-based project financing package of up to approximately SEK 3.9 billion.
• A Memorandum of Understanding was signed with Germany’s Aurubis AG for a long-term copper offtake agreement. The agreement is expected to cover approximately 50 percent of Viscaria’s projected copper output over an eight-year period (2028–2035) with the option to extend.

Significant events after the end of the period

• Long Lead Item (LLI) agreement signed with Metso covering two mills for the processing plant.
• Agreement signed with Strawberry and MG Link for the construction and operation of the residential area Viscaria Village.

Geology

• The latest exploration results confirm significant growth potential for the Viscaria deposit:
  Extensive mineralisation intersected in the B-zone gap: 76.2 m at 0.99% Cu, 1.37 ppm Ag.
  High-grade copper discovered in the C-zone: 5.8 m at 2.31% Cu, 1.64 ppm Ag.
  Step-out drilling in D-zone confirms extension over 400 m from the existing resource.

October – December 2025

• Net sales amounted to SEK 0 million (0).
• Profit after tax for the period was SEK -41.4 million (-19.2).
• Earnings per share before and after dilution amounted to SEK -0.25 (-0.16).
• Capitalised expenses related to exploration and appraisal assets amounted to SEK 77.7 million (77.0).
• The Group’s cash flow for the period was SEK 1,090 million (-153).

January – December 2025

• Net sales amounted to SEK 0 million (0).
• Profit after tax was SEK -109 million (-48.2).
• Earnings per share before and after dilution amounted to SEK -0.83 (-0.44).
• Capitalised expenses related to exploration and appraisal assets amounted to SEK 284 million (330).
• The Group’s cash flow for the period was SEK 1,175 million (-34.5).
• Cash and cash equivalents amounted to SEK 1,407 million on December 31, 2025 (232 on December 31, 2024).
• Equity amounted to SEK 3,095 million on 31 December 2025 (1,598 on 31 December 2024).

Presentation of the year-end report
A live presentation of this report will be held today, Tuesday 10 February, at 09.30 CET. The report will be presented by CEO Jörgen Olsson and CFO Frida Keskitalo, followed by a Q&A session.
The live webcast can be accessed via the link: www.youtube.com/live/0jrhSczllDY

This information was submitted for publication at 07.30 CET on February 10, 2026.