Green Minerals As · OSL:GEM
Green Minerals As — Q2 2025 Earnings Presentation
23 slides from Green Minerals As's earnings presentation, Aug 7, 2025
Slide 1: Q2 2025 report and presentation
Q2 2025 report and presentation Oslo, August 7, 2025 Ståle Rodahl, Executive Chairman Øivind Dahl-Stamnes, CEO
Slide 2: Disclaimer
Disclaimer • All statements contained in this presentation that are not statements of historical facts, including statements on projected operating results, financial position, business strategy, and other plans and objectives for future results, constitute forward-looking statements and are predict
Slide 3: Financial Highlights
Financial Highlights • Q2 underlying EBITDA was NOK 0,58m negative • Cost cuts lowering quarterly cash run-rate by approx. 80% from 2024 levels have been implemented 06.08.2025 3
Slide 4: Q2 & subsequent highlights
• US Executive order signed in April 2025 underpins global momentum in DSM Q2 & subsequent • Sovereign states taking the lead • Authorities preparations towards 1st license highlights round in Norway continues • NOK 150 mill allocated to exploration in 2025 budget (up 5x vs previous years). Add’l da
Slide 5: Increased investments into copper exploration
Increased investments into copper exploration Mineral exploration budgets (green curve) and resultant discovery rates (orange and grey bars) of new copper deposits in the period 1990-2022 From: Herrington, R. J., 2024 Centre for Resourcing the Green Economy, The Natural History Museum, Londo
Slide 6: The Geopolitics of Advanced Energy
THE GEOPOLITICS OF ADVANCED ENERGY supply chains come BP PMH GO TEO PSS Chile Peru China Chile China Korea Japan US Korea China-US EU Lilthium 5. 2m 7) “hk POLYSILICON SOLAR PANEL PV INSTALLATION Australia Chile China Chile = . One 9 O8 POEs . . i Nt gg Hw Oe China Korea Germany China Korea Canada C
Slide 7: A significant resource on a global scale
A significant resource on a global scale Metals NPD (tons) Global annual NPD/Global prod. production (Tons) Copper 38 100 000 21 000 000* 1.8x Gold 2 317 3 090** 0.8x Silver 85 200 24 000* 3.6x Cobalt 1 000 000 170 000* 5.9x 06.08.2025 7
Slide 8: Candidates for mining
Candidates for mining 06.08.2025 8
Slide 9: First licensing round
First licensing round • 386 (complete or partial) blocks suggested for announcement • Public hearing deadline Sept 26 th 2024 • All GEM priority areas in nomination included • WWF lost case against Norway on opening decision for DSM • Licence award Early Q2 2026 • Quintupling Govt spend to 15 MUSD f
Slide 10: Partnership for responsible production
Partnership for responsible production Concept Study on Harsh Environment Deep-Sea Mining System completed May 2024 OSI has delivered risers for Allseas/TMC (Nodules) and Japanese consortium (SMS). SMD delivered mining machines for previous SMS mining projects. OSI becomes shareholder in Green Miner
Slide 11: Concept for SMS mining system in Norway
Concept for SMS mining system in Norway 06.08.2025 11
Slide 12: Superior key metrics disrupting the economics of traditional copper mining
SUPERIOR KEY METRICS DISRUPTING THE ECONOMICS OF TRADITIONAL COPPER MINING Economics Economics Environmental Environmental • No infrastructure investment needed • 90% • reduction in environmental 90% reduction footprint* in environmental footprint* • No infrastructure investment needed • CAPEX per t
Slide 13: NCS one GEM HEDSM system – cash profile 2024-2034 (est)
NCS one GEM HEDSM system – cash profile 2024-2034 (est) 06.08.2025 13
Slide 14: Capex & funding - in a partnership model
Capex & funding - in a partnership model* CAPEX Item Project CAPEX GEM Funding Status Production concept Significant Zero 2 Research cruises AMOR Significant Low Baseline exploration data >50MUSD Zero Blendability Project Low Negligible DeepMineX Low Zero In progress CSU/SMD Significant Zero In prog
Slide 15: Bitcoin Treasury Strategy
Bitcoin Treasury Strategy De-centralized and non-inflationary properties • Attractive alternative to traditional fiat in an era of monetary expansion • Broad institutional approval last few years Long term project horizon • Real inflation risk vs significant future capital expenditure • Hedge again
Slide 16: Summary – building value while increasing runway
Summary – building value while increasing runway Norway 9 January 2024 opening decision derisks business case o GEM nominated areas of interest in Q2 2024 o GEM in pole position for license win o BTS strategy may leverage this strong posItion further Production concept developed together with global
Slide 17: Q&A Thank you!
Q&A THANK YOU! 06.08.2025 17
Slide 18: Financials
Financials 06.08.2025 18
Slide 19: Consolidated interim statement of income
Consolidated interim statement of income 06.08.2025 19
Slide 20: Consolidated interim statement of financial position
Consolidated interim statement of financial position 06.08.2025 20
Slide 21: Consolidated interim statement of cash flow
Consolidated interim statement of cash flow 06.08.2025 21
Slide 22: Selected notes and disclosures
Selected notes and disclosures Note 1: General information and basis for preparation. Green Minerals AS is a public limited liability company, incorporated and domiciled in Norway. The company’s registered address is Nedre Slottsgate 8, 0157 Oslo. The quarterly accounts have been prepared in conform
Slide 23: Shareholders in Green Minerals as of 30 June 2025
Shareholders in Green Minerals as of 30 June 2025 06.08.2025 23