Amaroq Ltd. · LSE:AMRQ
Amaroq — Investor Presentation (November 2025)
18 slides from Amaroq's investor presentation, November 2025
Slide 1: Corporate Presentation
CORPORATE PRESENTATION November 2025 Amaroq Ltd. is a Greenland-focused mining company engaged in the identification, acquisition, exploration and development of gold and strategic metals properties in Greenland. www.amaroqminerals.com | AMRQ
Slide 2: Disclaimer and Technical Information
DISCLAIMER AND TECHNICAL INFORMATION The information contained herein has been provided solely for information purposes and does not purport to be comprehensive or contain all the information that may be required by recipients to evaluate Amaroq Ltd (the “Company”). The presentation and the informat
Slide 3: Amaroq Today
AMAROQ TODAY The Premier Gateway to Greenland’s Resource Potential Mining Greenland Exploration, Development and Production Gardaq A/S Critical Mineral Exploration JV Suliaq ApS Gold Mining and Logistical Copper Services Base Metal Critical Metal Imeq ApS Renewable Current Shipping Routes Energy Fut
Slide 4: Working Across Two Hubs
WEST GREENLAND HUB WORKING ACROSS TWO HUBS MINTURN (Fe, Cu, Au) Two Greenland Hubs - Unlocking a Continental Scale Opportunity KANGERLUARSUK (Zn, Pb, Ag) BLACK ANGEL (Zn, Pb, Ag) WEST Amaroq operates across two strategic hubs in Greenland. SOUTH In the south, our team is based at the operating Nalun
Slide 5: Q3-2025 Highlights
Q3-2025 HIGHLIGHTS Continued progress commissioning the Nalunaq mine Produced 5,000oz gold by early October Total Group liquidity of $45m at period The 2025 Greenland exploration launched 2025. Sales of 2,636oz in Q3 and 3,360 in end – with cash balances of $55.3m and with multi-rig drilling at the
Slide 6: Building Value Across Our Portfolio
BUILDING VALUE ACROSS OUR PORTFOLIO Advancing assets through the Lassonde curve Operating Mine Nalunaq Other Exploration Kangerluarsuk Resource Definition Right Sizing of Project Value Strategic Interest Black Angel Resources and Feasibility Exploration Nanoq Speculation “Typical” P/NAV Range 0.10x
Slide 7: Operational Highlights
OPERATIONAL HIGHLIGHTS Production • Q3 2025 gold production of 3,536 oz. Gold produced in the nine months to the end of September was 4,347 oz. • Production increased further post quarter end, reaching this year’s production guidance of approximately 5,000 oz, ahead of time. Processing • Commissioni
Slide 8: Nalunaq – Operating Mine Layout
NALUNAQ – OPERATING MINE LAYOUT MINING FRONT 1 Underground Production, Surface Processing and Camp and Port MOUNTAIN BLOCK 484koz 30g/t Au Au HARBOR Mineral Resource MINING FRONT 2 Resource Grade TARGET BLOCK CAMP TRIAL MINING 151koz 300tpd AREA Au Targeted Indicated Mining Resource TEMP FUEL Rate S
Slide 9: Nanortalik Gold Belt
NANORTALIK GOLD BELT NANOQ Expanding Amaroq’s Gold Potential Emerging New Gold Camp Amaroq continues to unlock Greenland’s gold potential with advanced exploration at Vagar Ridge and JOKUM’S SHEAR Nanoq, our most promising targets. Near-mine opportunities, including: • Eagle’s Nest, • Lake 410, and
Slide 10: West Greenland Hub
Additional Regional Growth Opportunities WEST GREENLAND HUB Au Au Commercial levels of germanium, gallium and cadmium identified REE Kangerluarsuk Black Angel & Kangerluarsuk (Zn, Pb, Ag) • Former producing high grade room and pillar mine with significant in situ infrastructure and >176,000m of core
Slide 11: Black Angel
BLACK ANGEL Slide: 10 Amaroq Ltd: Corporate Profile
Slide 12: Gardaq A/S Today
GARDAQ A/S TODAY A Proven Joint Venture Model to Maximise Value of Any Discoveries Unlocking Greenland’s Strategic Mineral Potential • Gardaq’s Purpose: Established to target high-value strategic mineral resources in Greenland, crucial for the energy transition. • Rare Earth Element discovery (REE):
Slide 13: Suliaq ApS – Specialist Mining Services Co.
SULIAQ APS – SPECIALIST MINING SERVICES CO. The Key Tools to unlock mineral potential in a new frontier Mining Equipment Logistics Consumables Slide: 12 Amaroq Ltd: Corporate Profile
Slide 14: Imeq ApS – The First Private Hydro Project in Greenland
IMEQ ApS – THE FIRST PRIVATE HYDRO PROJECT IN GREENLAND Project progressing to pre-feasibility publication in Q4-25 Nalunaq Mine Hydro Benefits CAPEX Investment into Greenland ~9.8M CAD Capacity 1 Mw Annual diesel savings 1.3M L/yr Reduced CO2 emissions 3.5 t/yr Slide: 13 Amaroq Ltd: Corporate Profi
Slide 15: Outlook
OUTLOOK Planned shutdown complete and operations restarted Planned shutdown complete & Management expects 2025 full year Updated YE guidance of 5,000 oz of gold production to be 6,000 to 7,000 gold achieved in October 2025 operations restarted oz Strong financial position and a With Phase 1 complete
Slide 16: Amaroq
AMAROQ High-quality register with a substantial base Ticker: of institutional shareholders AMRQ (AIM / TSX-V / NASDAQ Iceland) Name Volume Other UK & Canada investors Icelandic Pension Funds 1. Industriens Pensionsforsikring A/S 4.75% ~18% and Insurance Companies ~20% Financial highlights 2. Danmark
Slide 17: Highly Experienced Board and Executive Management Team
HIGHLY EXPERIENCED BOARD AND EXECUTIVE MANAGEMENT TEAM Eldur Olafsson Joan Plant Edward Ellert Arnarson Founder, President & CEO Chief Financial Officer Interim COO Westropp Board Member Head of BD and Corporate Affairs BOARD MEMBERS MANAGEMENT TEAM Graham Stewart Warwick Morley-Jepson Non-Executive
Slide 18: Contact Us
www.amaroqminerals.com CONTACT US AMAROQ LTD 100 King Street West, Suite 3400, 1 First Canadian Place, Toronto, Ontario, M5X 1A4, Canada Eldur Olafsson, Chief Executive Officer AIM, TSXV, Nasdaq: AMRQ