Polar Resources As · OSL:POLAR
Polar Resources As — Investor Presentation (June 2026)
36 slides from Polar Resources As's investor presentation, June 2026
Slide 1: Company Presentation June 2026
COMPANY PRESENTATION JUNE 2026
Slide 2: Disclaimer
DISCLAIMER IMPORTANT INFORMATION THIS DOCUMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, ITS TERRITORIES, DEPENDENCIES OR POSSESSIONS, INCLUDING ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COL
Slide 3: Summary of Risk Factors
SUMMARY OF RISK FACTORS Risks Related to the Company's Industry and Operational Risks • The Company has a very limited history and has no current record of participating in any mining operations • The Company's current assets are limited to licenses for unexplored areas which carry inherent high ris
Slide 4: Table of Contents
TABLE OF CONTENTS 1 COMPANY OVERVIEW 2 STRATEGY AND BUSINESS PLAN 3 CURRENT PORTFOLIO 4 SUMMARY 5 APPENDIX POLAR RESOURCES | INVESTOR PRESENTATION | JUNE 2026 4
Slide 5: Investment Highlights
INVESTMENT HIGHLIGHTS 1 • Defined strategy for value creation in the natural resources sector – across two verticals Large opportunity set in • Building on existing mining assets and BD/M&A discussions, focused on the highly fragmented junior mining sector the natural resource in Norway, where acces
Slide 6: Polar at a Glance
POLAR AT A GLANCE Initially set up as a junior mining company in 2022: Focused on critical minerals in Norway. Has selectively pursued several transactions – currently holds 4 exploration licenses Broader strategic mandate decided in 2026: Focus on pursuing opportunities within the natural resources
Slide 7: Board with Strong Track Record
BOARD WITH STRONG TRACK RECORD JULIEN BALKANY JOHN HAMILTON DR ELIZABETH THOMPSON GARRETT SODEN Executive Chairman & Founder Non-Exec Director Non-Exec Director Board Nominee1 ✓ Strong track record of creating ✓ Strong international E&P ✓ Specialist in structural geology and ✓ Strong leadership and
Slide 8: Experienced Team
EXPERIENCED TEAM HENNO GRENNESS DR PAUL ARMITAGE TORSTEIN SANNESS MARC SENGES Chief Executive Officer (CEO)1 Chief Geologist Strategic Advisor & Chairman of Strategic Advisor & Nomination Committee Nomination Committee ✓ Strategic business development ✓ Exploration management in ✓ Successful oil & g
Slide 9: Table of Contents
TABLE OF CONTENTS 1 COMPANY OVERVIEW 2 STRATEGY AND BUSINESS PLAN 3 CURRENT PORTFOLIO 4 SUMMARY 5 APPENDIX POLAR RESOURCES | INVESTOR PRESENTATION | JUNE 2026 9
Slide 10: Value-Creation Across Two Verticals
VALUE-CREATION ACROSS TWO VERTICALS MATURING EXISTING ASSETS AND BD/M&A PIPELINE, WHILE PURSUING MORE TRANSFORMATIVE DEALS IN THE NATURAL RESOURCES SECTOR MINING OIL & GAS • Maturing existing licences and focusing on defined • Strong track-record of value-creation in oil & gas, driven by opportunity
Slide 11: Mining: Position with Attractive Backdrop
MINING: POSITION WITH ATTRACTIVE BACKDROP FOCUSED ON THE UPSTREAM PART, IN A HIGHLY SUPPORTIVE MINING JURISDICTION WHERE CRITICAL MINERALS ARE A STRATEGIC PRIORITY Strategic priority in Norway Location of assets Polar licenses 4 3 1 2 Increasing push on the back of new mineral strategy in 2023 and p
Slide 12: Mining: Norway Has a Rich Mining History
MINING: NORWAY HAS A RICH MINING HISTORY MINING HAS PLAYED AN IMPORTANT ROLE IN NORWEGIAN INDUSTRY SINCE THE 1600’s Polar has the ambition to contribute to the development of the Norwegian mining industry Selected mining industry Polar licenses • Highly fragmented industry – both at the company- and
Slide 13: Oil & Gas: Panoro – Case Study
OIL & GAS: PANORO – CASE STUDY TEAM HAS EXTENSIVE TRACK-RECORD OF DRIVING VALUE-CREATION PRODUCTION VOLUME (KBOEPD) & SHARE PRICE (DIV. ADJ.) LAST 10 YEARS (15.06.2016-15.06.2026) COUNTRY-ENTRY AND EXPANDING TO INTEGRATION, ADD-ONS AND PRODUCTION A DIVERSIFIED FULL-CYCLE PLATFORM DISTRIBUTIONS STEP-
Slide 14: Oil & Gas: Panoro – Case Study
OIL & GAS: PANORO – CASE STUDY DISCIPLINED AND SELECTIVE APPROACH TO M&A, SIGNIFICANT VALUE-CREATION THROUGH DEAL TERMS, STRUCTURING AND SUPPORT FROM FINANCING PARTNERS Acquisition of WI in Block G Acquisition of DNO Tunisia Acquisition of OMV Tunisia Acquisition of WI Block G and Dussafu 2018 2018
Slide 15: Oil & Gas: Strategic Partner
OIL & GAS: STRATEGIC PARTNER CORNERSTONE INVESTOR IN THE PRIVATE PLACEMENT AND PROVIDER OF COMMODITIES MARKETING / OFFTAKE TO THE COMPANY • Leading provider of credit financing, offtake and hedging for upstream oil & gas and M&A • Trafigura is one of the world’s largest suppliers of commodities, fou
Slide 16: Oil & Gas: Clearly Defined Strategy
OIL & GAS: CLEARLY DEFINED STRATEGY DIFFERENTIATED ACQUISITION FOCUS VS EXISTING ENERGY PLAYERS 1: Constraints 2: Upside Potential 3: Sourcing of Deals Focus on finding overlooked Exposure to commodity prices Sourcing of deals by leveraging value in energy, underpinned and a degree of inflation the
Slide 17: Table of Contents
TABLE OF CONTENTS 1 COMPANY OVERVIEW 2 STRATEGY AND BUSINESS PLAN 3 CURRENT PORTFOLIO 4 SUMMARY 5 APPENDIX POLAR RESOURCES | INVESTOR PRESENTATION | JUNE 2026 17
Slide 18: Asset Portfolio Overview
ASSET PORTFOLIO OVERVIEW Four licences, one exploration playbook • Exploration licences covering areas with potential for copper and zinc deposits EXPLORATION POTENTIAL IN CENTRAL NORWAY • All areas have VMS-type sulphide mineralisation and historic mining • Initial programme: Mapping, sampling, hel
Slide 19: Applying Modern Technology on Highly Prospective, Underexplored Assets
APPLYING MODERN TECHNOLOGY ON HIGHLY PROSPECTIVE, UNDEREXPLORED ASSETS Underexplored ground + modern geophysics = faster target generation Map & sample Fly magnetic & EM surveys Rank drill targets The project areas have seen little modern Heli-mounted magnetic and EM surveys, such New geophysical me
Slide 20: Exploration Portfolio: Åsoren Gruve
EXPLORATION PORTFOLIO 1 ÅSOREN GRUVE Åsoren gruve AREA ACCESS HISTORIC GRADE MINING 9 km² Otta 1.43% Cu 1900s • Close to the town of Otta in Central Norway, on the national E6 highway and railway • Apparent VMS-type sulphide deposit with historic mining and geophysical work • Minor historic mining a
Slide 21: Exploration Portfolio: Selgruva
EXPLORATION PORTFOLIO 2 SELGRUVA Selgruva AREA ACCESS HISTORIC GRADE MINING 9 km² Otta 2.09% Cu 1624-1789 • Adjacent to the town of Otta in Central Norway, on the national E6 highway and regional railway • Sulphide deposit of apparent VMS type • Regular production from 1624 to 1789, little knowledge
Slide 22: Exploration Portfolio: Tverrfjellgruva
EXPLORATION PORTFOLIO 3 TVERRFJELLGRUVA Tverrfjellgruva AREA ACCESS HISTORIC GRADE MINING 2.6 km² Hjerkinn 1.69% Cu 1968-1993 • Very close to the small town of Hjerkinn in Central Norway, on the national E6 highway and regional railway • Sulphide deposit of apparent VMS type • Mined in 1968-1993 for
Slide 23: Exploration Portfolio: Gressligruva
EXPLORATION PORTFOLIO 4 GRESSLIGRUVA Gressligruva AREA ACCESS HISTORIC GRADE MINING 9 km² Ås 0.9% Cu 1792-1868 • 10 km west of the small town of Ås in Central Norway and adjacent to the Fv705 trunk road linking the Trondheim and Røros districts • Sulphide deposit of apparent VMS type • Mined for 24
Slide 24: Table of Contents
TABLE OF CONTENTS 1 COMPANY OVERVIEW 2 STRATEGY AND BUSINESS PLAN 3 CURRENT PORTFOLIO 4 SUMMARY 5 APPENDIX POLAR RESOURCES | INVESTOR PRESENTATION | JUNE 2026 24
Slide 25: Summary
SUMMARY 1 2 3 Large opportunity set in the Maturing asset base with near- Highly experienced team with natural resource sector, term upside, close to existing strong track record of value- pursuing deals in mining and infrastructure in a highly creation, backing from oil & gas favourable jurisdictio
Slide 26: Table of Contents
TABLE OF CONTENTS 1 COMPANY OVERVIEW 2 STRATEGY AND BUSINESS PLAN 3 CURRENT PORTFOLIO 4 SUMMARY 5 APPENDIX POLAR RESOURCES | INVESTOR PRESENTATION | JUNE 2026 26
Slide 27: Financials
FINANCIALS NOK 2024 2025 NOK 2024 2025 OPERATING EXPENSES ASSETS Other operating expenses -3,875,564 -3,849,843 Receivables - 6,165 RESULT OF OPERATIONS -3,875,564 -3,849,843 Bank deposits, cash in hand, etc 80,721 45,696 TOTAL ASSETS 80,721 51,861 FINANCIAL INCOME Other interest income 177 13 EQUIT
Slide 28: Mining: M&A Value-Creation Strategy
MINING: M&A VALUE-CREATION STRATEGY CLEARLY DEFINED “BUY-AND-BUILD” APPROACH 1 2 3 4 Execute accretive Unlock project Secure value – exits Mature deal pipeline M&A value or partnerships • Active strategic and Strong financial partnership ~25-50 deal flow • Focus on attractive • Provide access to app
Slide 29: Environmental, Social and Governance
ENVIRONMENTAL, SOCIAL AND GOVERNANCE We are committed to operate responsibly and with transparency wherever we work Stakeholder Environmental engagement management Engagement with all stakeholders including local communities and environmental organizations to manage the social, environmental and eth
Slide 30: Other Disclosures
OTHER DISCLOSURES Polar has undertaken, subject to certain conditions, to use its best endeavours to offer Trafigura to increase its ownership up to 25% in connection with future equity capital raises, while preserving existing shareholders’ pre-emption rights, and the opportunity to appoint a non-v
Slide 31: Risk Factors 1/5
RISK FACTORS 1/5 An investment in the Shares involves inherent risks. Investors should consider all information set forth in this Investor Presentation and, in particular, the specific risk factors set out below. An investment in the Shares is suitable only for investors who understand the risks ass
Slide 32: Risk Factors 2/5
RISK FACTORS 2/5 1.1.5 Mining operations in Norway may be subject to political changes and/or regulatory changes which may restrict, prevent or make planned operations non-commercial, or make any operations more costly and/or less profitable than expected The Company's planned operations presuppose
Slide 33: Risk Factors 3/5
RISK FACTORS 3/5 1.2.2 If an asset is developed and commences production, prices for minerals produced may be subject to a range of factors, many of which are outside the control of the Company Should one or more of the Company's projects be developed and brought into production, revenues will to a
Slide 34: Risk Factors 4/5
RISK FACTORS 4/5 1.3.3 The Company and its business will depend on substantial financing of exploration and development of projects and such financing may not be available or available only at non-acceptable or extremely expensive and restrictive terms, and may constitute substantial dilution for ex
Slide 35: Risk Factors 5/5
RISK FACTORS 5/5 1.3.9 The price of the shares in the Company may fluctuate significantly The trading price of the Shares could fluctuate significantly in response to a number of factors beyond the Company's control, including, but not limited to, quarterly variations in operating results, adverse b
Slide 36: Thank You
THANK YOU POLAR RESOURCES – INVESTOR PRESENTATION | JUNE 2026 www.polarresources.no www.polarresources. Contact details: Henno Grenness Chief Executive Officer Tel: +47 911 44 658 henno.grenness@polarresources.no STRICTLY PRIVATE AND CONFIDENTIAL
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