Slide 1: 1st Quarter 2021
sf GREEN MINERALS Enabling the green shift
Slide 2: Forward-looking statements
1 Introduction 2 3 4 Forward-looking statements Green Minerals • 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, co
Slide 3: Agenda
1 Introduction 2 3 4 AGENDA Q1 2021 UPDATE FINANCIAL COMPANY PRESENTATION THEME: SMS FORMATION Ståle Rodahl Maxime Lesage Erik Von Krogh Executive Chairman Chief Engineer CFO 3
Slide 4: Q1 2021 Update – Progressing on Plan
1 Introduction 2 3 4 Q1 2021 UPDATE – PROGRESSING ON PLAN Green Minerals Major milestones • Key hires in engineering and geoscience • LOI with consortium led by Oil States Industries (UK) Ltd for a FEED study on a turnkey HEDSMS for a long term contract against exclusive use in Norwegian waters • Li
Slide 5: Q1 Financials
1 Introduction 2 3 4 Q1 FINANCIALS Green Mineral AS Preliminary figures Profit & Loss (NOK) Q1 2020 2020 Revenues - - R&D - 322 712 - SG&A - 1 329 228 - 600 582 Operating profit - 1 651 940 - 600 582 Net financials 847 - 255 Profit/loss - 1 651 093 - 600 837 Assets Other current assets - - Bank 27 7
Slide 6: Our mission
1 Introduction 2 3 4 Our mission Deliver minerals for the Green Shift in a responsible and sustainable manner 6
Slide 7: Creating an industry bellwether
1 Introduction 2 3 4 Creating an industry bellwether 3 Well-defined roadmap and string of newsflow Near term updates: − Partner/cooperation agreements; LOI with Oil States Industries (UK) Ltd signed on March 23rd − Additional key hires, targeting 4 PhD`s giving impetus to our industry leading 2 po
Slide 8: Our vision: Creating the marine minerals value chain
1 Introduction 2 3 4 Our vision: Creating the marine minerals value chain 8
Slide 9: Massive global demand for new metals sources
1 2 Market backdrop 3 4 Massive global demand for new metals sources Commentary >$1trn in key metals capex needed by 2035 Cumulative capex: current commitments and AET-2 scenario Massive need for new source of metals as the world requirements, USDbn electrifies and digital technology becomes avail
Slide 10: However, supply is limited
1 2 Market backdrop 3 4 However, supply is limited Commentary Global Production selected minerals (2018) Several environmental and social challenges with 21% traditional metal production 29% 33% Copper Cobalt 40% Zinc 45% 3% − 70 % of the world's cobalt is mined in the D.R. of 25,000 162 12,500 4%
Slide 11: Emerging copper supply gap
EMERGING COPPER SUPPLY GAP Global copper market balance Copper supply gap vs price S Source: Goldman Sachs Investment Research 11
Slide 12: Impact of minerals to 1bn electric cars
1 2 Market backdrop 3 4 Traditional mining vs deep sea mining Onshore mining Deep sea mining Change C02 equivalent emissions (Gt.) 1.5 0.4 -70% Impact of minerals to 1bn electric cars Ore use (Gt.) 25 6 -75% Deforestation (Sqm) 66,000 5,200 -92% Solid waste (Gt.) 64 0 -100% Freshwater ecotoxicity (1
Slide 13: NCS – the most attractive area in the world to kickstart the industry from
1 2 Market backdrop 3 4 NCS – the most attractive area in the world to kickstart the industry from Commentary The Mohns & Kniprovich ridges Mineral exploration on the Norwegian continental shelf (“NCS”) is attractive for several reasons: − Size and richness of reserves − One nation state, one regu
Slide 14: Key events towards exploration and production license awards in 2023
1 2 Market backdrop 3 4 Key events towards exploration and production license awards in 2023 Pre-license award 2020 Q1 Q1 2019 2022 2021 2023 State ownership Opening of Consequence Areas The Seabed Public hearing analysis Minerals Act Opening approved approved Post-license award Q1 Q1-Q3 Q3 Q4’23 20
Slide 15: Our team
1 2 3 Company overview 4 Our team Ståle Maxime Ståle Espen Erik von Gunnar Rodahl Lesage Monstad Simonstad Krogh Jansen Senior Advisor CFO CEO Executive Chief Engineer Chief Geoscientist & Head of Exploration Geoscience Chairman • 30 years in the • 10+ years • 25+ years • 10+ years • 15 years • 20 y
Slide 16: Supporting global sustainability
1 2 3 Company overview 4 Supporting global sustainability Providing Fighting child Creating Reducing waste Enabling CO2 Reducing minerals for the labor while sustainable generation and reduction deforestation green transition creating Rare Earth enabling being key sustainable Elements (REE) companie
Slide 17: Overview of the value chain
1 2 3 Company overview 4 Overview of the value chain Onshore processing Exploration Offshore production Offshore logistics facility Regional exploration: • Excavation: • Ore transport • Comminution (using Crawlers/trenchers crushers) • Bathymetry (large-scale) – • Personnel transfer e.g. satellite d
Slide 18: Partners and affiliations
1 2 3 Company overview 4 Partners and affiliations Onshore processing Exploration Offshore production Offshore logistics facility To be named Potential universal partners Battery Copper end- Academia producers users 18
Slide 19: Secured partnerships with Seabird Exploration and Oil State Industries
1 2 3 Company overview 4 Secured partnerships with Seabird Exploration and Oil State Industries Partnership with Seabird Exploration LOI signed with consortium led by Oil States In March 2021, Green Minerals signed a LOI with a consortium led by Oil States Industry to collaborate on a FEED study f
Slide 20: Our strategy
1 2 3 Company overview 4 Our strategy Short term Medium term Long term Ultimately Win exploration and production Expand our portfolio to Transform into a truly circular To be recognized as a pioneer licenses to capitalize on a NOK international licenses and economy business model by and leader of th
Slide 21: Aspirational targets (I)
1 2 3 4 The road ahead Aspirational targets (I) Exploration Development/Production Finished product/processing Expect first Research cruise in 2021, incl First system ready to operate in 2026 Annual gross value of ore from start ecosystem impact evaluation (pilot): production of (based on curr
Slide 22: Aspirational targets (II)
1 2 3 4 The road ahead Aspirational targets (II) Commentary Key metrics - 30MT deposit example One Green Minerals full scale production system: Metric Unit − Flow rate: min 5-8000 tonnes/day Mineral resources Million tons 30 − Utilisation: min 200+ days/year Enrichment (CuEq) % 5.3 − Annual ore pr
Slide 23: Theme: SMS Formation
1 2 3 4 The road ahead Theme: SMS Formation Volcanic Massive Sulphides (VMS) as a source of 1 copper on land 2 VMS are born in the sea – VMS in ophiolites e.g. Troodos Some VMS are SMS which have been 3 transported from Mid-Ocean Ridges (MOR) 4 SMS forms on MOR : the hydrothermal process Understandi
Slide 24: VMS as a source of copper
1 2 3 4 The road ahead VMS as a source of copper Source: Visual Capitalist, 2019 24
Slide 25: Formation of SMS deposits
1 2 3 4 The road ahead Formation of SMS deposits 25
Slide 26: How to find them – and how to value them
1 2 3 4 The road ahead How to find them – and how to value them 26
Slide 27: Evolution of SMS deposits
Evolution of SMS deposits A: Flat topography General model for VMS. formation allows preservation and Diffuse venting maintains re-minaralization of sulfide as the ‘sulphide stability whilst ‘mound grows} preventing seawater influx and remineralizing massive rapid burial of finer material SO , Steep
Slide 28: How to find them – and how to value them? Transfer of methodology from O&G
| | Cas How to find them —- and how to value them? Transfer of methodology from O&G Source: Allen et Allen, 2013 Ie] GREEN MINERALS
Slide 29: How to find them – and how to value them? Transfer of methodology from O&G
| | Cas How to find them - and how to value them? Transfer of methodology from O&G Source: Ellefmo et al., 2019 lel GREEN MINERALS
Slide 30: Investment highlights
a) The road ahead Investment highlights A pion eer in 1 Marine minerals needed for Green Shift offshore mining and the leader in Marine Minerals on the i GEM with capital-light partnership strategy across N orw eg lan 3 the entire value chain 2 >NOK 700bn opportunity on NCS Continental Shelf Well-de
Slide 31: Green Minerals
sf GREEN MINERALS Enabling the green shift