Green Minerals As · OSL:GEM
Green Minerals As — Q1 2025 Earnings Presentation
23 slides from Green Minerals As's earnings presentation, May 8, 2025
Slide 1: Q1 2025 report and presentation
Q1 2025 report and presentation Oslo, May 8, 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 Key figures All figures in NOK '000 (except Quarters* Full year* equity ratio) Q1 2025 Q1 2024 2024 2023 Rev enues - - 6 6 Operating expenses -2,126 -1,910 -16,507 -10,943 EBITDA -2,126 -1,910 -16,501 -10,937 EBIT -2,126 -1,910 -16,501 -10,937 Profit/(loss) -2,128 -1,911 -16,529
Slide 4: Q1 & subsequent highlights
• Oversubscribed equity raise • NOK 11 million raised Q1 & subsequent • MoU in CCZ extended to 2027 highlights • Optionality secured through runway extension • Cost cuts and guaranteed rights issue • Maintaining competency while reducing capacity • Authorities preparations towards 1st license round
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 cope BB OP O©GO E26 HE: Chile Peru China Chile China Korea Japan China US Korea China us EU Lilthium x. “_ & “& POLYSILICON SOLAR PANEL PV INSTALLATION Australia Chile China Chile = Neckel gy ® Hey Oe "OO 82S f China Korea Germany China Korea Canada China EU US Ind
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 08.05.2025 7
Slide 8: Candidates for mining
Candidates for mining 08.05.2025 8
Slide 9: First licensing round
First licensing round • 386 (complete or partial) blocks suggested for announcement • Public hearing deadline Sept 26th 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 fo
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 08.05.2025 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) 08.05.2025 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: Optionality secured
Optionality secured building value while increasing runway NOK 24 mill in-kind commitment from the founders increases runway and optionality • Based on 80% cost cut over 3 years, current run-rate NOK 10 mill p.a • increased business development activity • ecosystem of potential partners is expanding
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 Production concept developed together with globally leading partners and ready VMS/SMS Processing study co
Slide 17: Q&A Thank you!
Q&A THANK YOU! 08.05.2025 17
Slide 18: Financials
Financials 08.05.2025 18
Slide 19: Consolidated interim statement of income
Consolidated interim statement of income Consolidated interim statement of income Quarters* Full year* All figures in NOK '000 (except EPS) Q1 2025 Q1 2024 2024 2023 Revenues - - 6 6 Personnel expenses -1,526 -1,298 -4,896 -6,537 Other expenses -600 -611 -11,611 -4,407 Total operating expenses -2,12
Slide 20: Consolidated interim statement of financial position
Consolidated interim statement of financial position Consolidated interim statement of financial position Quarters* 31 December* All figures in NOK '000 (except equit Q1 2025 Q1 2024 2024 2023 ASSETS Non-current assets Total non-current assets - - - - Current assets Other current assets 72 1,427 132
Slide 21: Consolidated interim statement of cash flow
Consolidated interim statement of cash flow Consolidated interim statement of cash flow Quarters* Full year* All figures in NOK '000 Q1 2025 Q1 2024 2024 2023 Cash flows from operating activities Profit / (loss) before income tax -2,128 -1,911 -16,529 -10,966 Adjust ment s for: (Increase)/decrease i
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 31 March 2025
Shareholders in Green Minerals as of 31 March 2025 SHAREHOLDER OVERVIEW Name Number of shares Ownership Telinet Invest As 4,202,744 20.9% Anderson Invest As 1,912,059 9.5% Chs Ventures Limited 830,602 4.1% Grunnfjellet As 808,919 4.0% Storfjell As 704,714 3.5% Citibank 580,000 2.9% Nordnet Livsforsi