Endomines Finland Oyj · OMXHEX:PAMPALO
Endomines Finland Oyj — Endomines — Non-Deal Roadshow (August 2026)
31 slides from Endomines Finland Oyj's roadshow presentation, August 2026
Slide 1: Strong Profitable Growth
Strong Profitable Growth
Slide 2: Why Endomines - Golden opportunity in Finland
Why Endomines - Golden opportunity in Finland Growing Gold Expanding Gold Production Resources Finland – Global Endomines is increasing gold Growing gold resources strengthen production in Finland, with a clear value creation and enable long-term leader in mining path to sustained growth. growth. in
Slide 3: Karelian Gold Line
KARELIAN GOLD LINE Northern Gold Line Karelian Gold Line A high-potential gold bearing greenstone belt in Finland • 40 km long gold belt in Finland Pampalo • Production facilities located at Pampalo • Exploration focuses on the Southern and Northern Gold Lines Critical minerals opportunity: • Tungst
Slide 4: Highlights of Q2/H1-2026
Highlights of Q2/H1-2026 GROWTH IN GROWTH IN GROUP GROWTH IN Q2 REVENUE EBITDA NET RESULT • Revenue up 46% to • EBITDA up 38% to 5.5 • Net result up 297% to 16.2 MEUR (11.1) MEUR (4.0) 3.3 MEUR (0.8) GROWTH IN GROWTH IN GROUP GROWTH IN REVENUE EBITDA NET RESULT H1 • Revenue up 61% to • EBITDA up 86%
Slide 5: Production growth continued also in H1-2026
Production growth continued also in H1-2026 Gold production 2025-2026 (Oz) Pampalo gold production +9.7% 10,000 compared (oz) +16.3% Acquisition of to H1 compared mining 2025 18,000 +93% to 2024 9,000 subcontractor in H2 2025 +24.2% 16,000 compared 8,000 to 14,000 H2 2025 7,000 12,000 10,000 6,000 8
Slide 6: Market development
Market development • Gold prices have historically tended to strengthen when Gold price development (USD/ounce) the U.S. Federal Reserve begins cutting interest rates 5,300 • Escalating tensions in Iran contributed to delaying market expectations for rate cuts, which led to a decline 4,800 • Despite
Slide 7: Key Q2 developments supporting future gold production growth
Key Q2 developments supporting future gold production growth • New industry-leading drilling results from UKKO deposit reinforce future gold production growth • Received decision on EU and state funding (1.51 MEUR) to advance critical minerals project • Refinanced previous long-term financing packag
Slide 8: We aim to lead in responsible and sustainable mining
We aim to lead in responsible and sustainable mining Endomines’s CLIMATE PERSONNEL • Carbon-free gold production at • Safe and pleasant place to work Sustainability Program the Karelian Gold Line by 2035 • Developing safety practices with • Carbon neutral across the entire the goal of zero accidents
Slide 9: Exploration
ENDOMINES EXPLORATION
Slide 10: Resource growth enables long-term growth
Resource growth enables long-term growth Karelian Gold Line Resources +211% in Next update 600,000 three years Q1 2027 500,000 Exploration Endomines exploration successfully 400,000 started delivered meaningful resource growth for Ounces of gold three consecutive years. 300,000 • 12,800 m drilled in
Slide 11: Southern Gold Line is the main area in 2026-2027
Southern Gold Line is the main area in 2026-2027 Northern • New Ukko discovery has changed Gold Line plans for 2026-2027 • The exploration results support long-term growth and production potential Pampalo • Southern Gold Line is in permitting phase to be in production around 2030 Southern Gold Line
Slide 12: Southern Gold Line: The Ukko deposit
Southern Gold Line: The Ukko deposit Discovery BIF-hosted gold deposit area • Located 15 km south of Pampalo • Discovered in April 2025; the extent and continuity have been investigated Our goal in H2 is to connect the two • Iron formations provide favorable geochemical northernmost areas conditions
Slide 13: Southern Gold Line: The Ukko deposit
Southern Gold Line: The Ukko deposit Discovery Highlights of the drilling campaigns area • UKKO-001 intersected 30.95 m @ 3.28 g/t gold • Including 9.35 m @ 7.08 g/t gold • UKKO-068 intersected 49.35 m @ 2.10 g/t gold High grade • Including 3.70 m @ 4.37 g/t gold gold with wide intersections • Inclu
Slide 14: Executing our strategy
ENDOMINES EXECUTING OUR STRATEGY
Slide 15: Strategic long-term targets
Strategic long-term targets • 1.5–2.0 million oz gold resource defined on the Karelian Gold Line by the end of 2030 • Annual gold production level of 70,000-100,000 ounces around 2030 • Tungsten and molybdenum production at Karelian Gold Line around 2030 • Fossil Free gold production by 2035 15
Slide 16: Resource growth enables long-term growth
Resource growth enables long-term growth Karelian Gold Line Resources 600,000 Exploration +211% from started 500,000 2022 to 2025 400,000 300,000 Next update 200,000 Q1 2027 100,000 0 2020 2021 2022 2023 2024 2025 16
Slide 17: Step-by-step growth in gold resource
Step-by-step growth in gold resource It is estimated that every 10,000 m of pure exploration drilling 2026 program results in 100,000 oz will be the largest resource growth in the company’s history Target level 1.5–2.0 120,000 metres of Moz gold resource exploration drilling Target to define 18,000
Slide 18: Step-by-step production growth in gold and critical minerals
Step-by-step production growth in gold and critical minerals Southern Further growth by Gold Line bringing new entering areas into production production • Southern Gold Ramp-up to Line phase II 70,000–100,000 to oz approximately 150,000 Tungsten and ounces Steady growth molybdenum • Northern Gold to
Slide 19: Southern Gold Line development plan
KARELIAN GOLD LINE Southern Gold Line development plan Includes four deposits which are permitted together as base of till samples indicate that some parts could be connected Southern Gold Line will boost production to: • 70,000–100,000 oz gold per annum Pampalo • Tungsten and molybdenum included 20
Slide 20: Southern Gold Line – Tungsten and Molybdenum also in production around 2030
Southern Gold Line – Tungsten and Molybdenum also in production around 2030 Tungsten price USD per tonne WO3 Kuittila has potential to become a significant 350,000 supplier of tungsten and molybdenum 300,000 • Latest drilling results confirm potential 250,000 • Wide mineralisation with tungsten and
Slide 21: Outlook for 2026: Growth is on track
Outlook for 2026: Growth is on track Gold Production Largest exploration Southern Gold Line expected to grow program in company’s development project to Our guidance: gold production to history the next phase with gold increase by 10-20% in 2026 Growing the gold resource through and tungsten a 50,00
Slide 22: Thank you!
Thank you!
Slide 23: Appendices
APPENDICES
Slide 24: Share and Ownership
Share and Ownership
Slide 25: Share price development and largest owners
Share price development and largest owners Share price, last 24 months Largest shareholders 17 August 2026 31 July 2026 EUR Name Shareholding 1 Joensuun Kauppa Ja Kone Oy* 19.96% 1 month: +9.6% 2 Wipunen Varainhallinta Oy 15.29% 24 month: +216% 3 Mariatorp Oy 15.29% 4 K22 Finance Oy* 4.00% 5 Clearst
Slide 26: Financial Information
Financial Information
Slide 27: H1 revenue 34.7 MEUR, growth of 61%, y-o-y
H1 revenue 34.7 MEUR, growth of 61%, y-o-y Group Revenue (MEUR) Quarterly Group Revenue (MEUR) 2022-2026 Q2’25-Q2’26 20 55 15 45 35 10 25 5 15 5 0 2022 2023 2024 2025 H1 2026 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q2 2026 16.2 MEUR growth 46%, y-o-y 27
Slide 28: Group H1 EBITDA 14.3 MEUR, +86%, y-o-y
Group H1 EBITDA 14.3 MEUR, +86%, y-o-y 41.2% margin Group EBITDA Quarterly Group EBITDA (MEUR) 2022-2026 (MEUR) 2025-2026 10 20 8 15 10 6 5 4 0 2 2022 2023 2024 2025 H1 2026 -5 0 -10 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q2 2026 5.5 MEUR 34% of revenue 28
Slide 29: H1 cash cost: 1,588 EUR/oz +23.6%, y-o-y
H1 cash cost: 1,588 EUR/oz +23.6%, y-o-y Cash cost in Pampalo, excl. investments and change in inventory & Average Gold price, (EUR / oz) • Particularly affected by higher use of open 5,000 pit ore (lower gold grade) during May 4,500 4,024 • Electricity price in Q2’26 increased 35.6% 4,000 y-o-y 3,5
Slide 30: Balance Sheet and Cash Flow improved on all indicators from YE 2025
Balance Sheet and Cash Flow improved on all indicators from YE 2025 Key Figures 30 Jun 26 31 Mar 26 31 Dec 25 Total of Balance Sheet, MEUR 102.4 100.2 92.3 Cash and equivalents, MEUR 4.8 9.4 3.9 Interest-bearing debt, MEUR 12.0 13.9 13.7 Interest-bearing net debt, MEUR 7.1 4.4 9.9 Net gearing, % 10.
Slide 31: Contact
Contact Kari Vyhtinen, CEO Minna Karttunen, CFO Kari.Vyhtinen@endomines.com Minna.Karttunen@endomines.com +358 40 585 0050 +358 40 513 3225