Nordic Mining ASA - Update on Production Ramp-Up, Liquidity and Regulatory Status

Oslo, 7 August 2026

INSIDE INFORMATION pursuant to Article 17 of the Market Abuse Regulation (MAR)

Nordic Mining ASA ("Nordic Mining" or the "Company") today publishes the
following update regarding the production ramp up, liquidity and regulatory
status. The Company is simultaneously publishing a separate stock exchange
announcement from Engebø Rutile and Garnet AS (Nordic Rutile, ISIN:
NO0012734112) as issuer of the Senior Secured Bonds.

Production ramp-up: The ramp-up at Engebø Rutile and Garnet AS ("ERG") is behind
the original schedule. Following a ramp-up reset under new operational
management in early 2026 and with the support of external technical adviser
Systemex, plant throughput is approaching design capacity. However, challenges
with product separation (rutile) and fines (garnet) have required a downward
revision of production forecasts.

Liquidity: The Company and ERG have initiated discussions with a group of
bondholders under the Senior Secured bonds and has been informed that
Bondholders representing more than two-thirds (2/3) of the Voting Bonds have
indicated their support to a deferral of the 9 August coupon payment for the
Senior Secured bonds and further waiver as described in the separate
announcement made by ERG today, the Company's current liquidity extends to 4
September 2026. A liquidity injection of USD 10-15 million is required to fund
operations through to November 2026. The Company is working to secure this
through a tap issue under ERG's existing Senior Secured Bonds, subject to
bondholder consent and the outcome of an independent technical review being
conducted by SRK Consulting, expected to conclude by 4 September 2026. The
Company will also need to cover a further liquidity shortfall in 2027 and at the
same time address its 2027 bond maturity to establish a viable long-term
financial platform.

Regulatory status: As previously communicated, the Norwegian Supreme Court has
upheld the Court of Appeal's finding that the permits for tailings disposal in
Førdefjorden are invalid due to insufficient reasoning. The Government will
conduct a new assessment of the project. The ruling does not require an
immediate suspension of operations, and ERG continues to operate under existing
environmental conditions.

An updated presentation containing detailed information regarding the Company's
operational status, financial projections, and strategic outlook is attached to
this announcement and made available on the Company's website at
nordicmining.com.

Contact

Finn Ivar Marum, CEO Nordic Mining
finn.ivar.marum@nordicmining.com

This announcement has been prepared pursuant to Article 17 of MAR, cf. the
Norwegian Securities Trading Act section 5-2. Forward-looking statements are
subject to uncertainty and risk, and actual results may differ materially.
to uncertainty and risk\, and actual results may differ materially.\