Akobo Minerals Ab · OSL:AKOBO
Akobo Minerals Ab — Q2 2026 Earnings Presentation
15 slides from Akobo Minerals Ab's earnings presentation, Sep 30, 2026
Slide 1: Second quarter 2026
Second quarter 2026 - 01.04.26 – 30.06.26 AKOBO MINERALS AB (publ) 30 September 2026 Euronext – AKOBO www.akobominerals.com
Slide 2: Disclaimer
Disclaimer This document has been used during an oral presentation. Therefore, this document is incomplete without the oral explanations, comments and supporting instruments that were submitted during the referred presentation. To the extent permitted by law, no representation or warranty is given,
Slide 3: Production and financial update
Production and financial update Q2 – RECORD QUARTER 169 • Record quarterly doré production of approx. 37 kg 134 • Record quarterly average recovered grade of approx. 38.5 g/t 96 • Approx.134 kg total doré produced 73 • Record sales of USD 6.1m 52 37 35 • Accumulated sales of USD 17.7m 21 22 23 • App
Slide 4: Current operations and key approvals
Current operations and key approvals Operations • Production continuing from existing mining areas • Vertical shaft development progressing • Ball mill operational following repairs • Tailings retesting indicates recovery upside • Strong processing performance and normal site operations • Expansion
Slide 5: Strong production at exceptional grades since October 2024
Strong production at exceptional grades since October 2024 27 Monthly gold production (kg) 16 10 9 10 8 9 7 8 7 7 7 6 7 5 3 2 2 1 1 1 1 100 100 Average recovered grade (g/t) 29 30 28 30 31 24 25 25 26 18 20 21 21 19 19 12 16 10 6 5 First Segele gold doré bar 01 January 01 January 03 March 09 Septemb
Slide 6: Strong cash generation and increasing financial flexibility
Strong cash generation and increasing financial flexibility FOR ILLUSTRATION Q1 – Q3 Cash generation funds investment and debt repayment Improving operating leverage USD million +9.2 EBITDA Margin 71% –2.5 65% 43% 44% 30% 3.3 3.0 –7.0 Opening cash EBITDA Investment Debt service Closing cash Q3 25 Q4
Slide 7: The vertical shaft unlocks higher capacity, flexibility and deeper access
The vertical shaft unlocks higher capacity, flexibility and deeper access Current status • Visible gold observed during shaft development • Approx. 25 metres remaining to first production level • Current focus is on gold extraction from the first lateral while shaft sinking continues • Ground suppor
Slide 8: Indications of mineralisation beyond parts of the current resource model
Indications of mineralisation beyond parts of the current resource model • Mining has continued beyond parts of the current block model • Gold mineralisation has been observed during vertical-shaft development east of the mineral resource • Underground surveying and geological evaluation Towards ver
Slide 9: Akobo 2.0 - transitioning from producer to growth company
Akobo 2.0 - transitioning from producer to growth company Foundation in place Strong local and federal government support, reinforced by EIH’s ownership Export approval secured from the National Bank of Ethiopia Offshore account with Standard Bank approved and operational Approval to retain
Slide 10: Financial performance and operational leverage
Financial performance and operational leverage All figures in mSEK – unaudited quarterly figures P&L DEVELOPMENT EQUITY & DEBT DEVELOPMENT 57,3 396,1 401,9 414,1 390,8 40,7 29,8 32,1 22,8 12,9 14,0 6,9 Q3-25 Q4-25 Q1-26 Q2-26 Q3-25 Q4-25 Q1-26 Q2-26 - 15,9 - 16,9 - 18,1 - 16,6 -201,5 - 192,4 -219,7
Slide 11: Income statement – Group
Income statement – Group Comments to figures • SEK 57.3 million in gold-related revenue (doré production) • SEK 3.8 million in other expenses mainly relate to consulting services such as accounting, auditing and legal both in Norway and Sweden • SEK 6.9 million in other expenses mainly relate to min
Slide 12: Balance sheet – Group
Balance sheet – Group Comments to figures • Fixed assets primarily consist of capitalised exploration costs and mining equipment at the Segele operation in Ethiopia • Long-term debt consists of a 9,444 ounces gold loan from Monetary Metals, which is linked to gold price movements • Cash during the q
Slide 13: Cash flow – Group
Cash flow - Group PRELIMINARY FIGURES ‘Amount in SEK Q2-2026 Before changes in working capital 21,339,832 83,546,208 Changes in accounts receivables and other receivables 10,295,997 14,943,789, Changes in accounts payable and other liabilities 2,789,413 -14,299,769 Cashflow from Operating Activities
Slide 14: Corporate structure and ownership
Corporate structure and ownership Corporate structure and listing Transparent corporate structure Top shareholders Rank Shares % Name ▪ Successfully transitioned from discovery to 1 20 190 224 8,80 % Bernhd. Brekke A/S production 2 19 915 435 8,68 % ATOLI AS ▪ Ethiopia’s first modern international g
Slide 15: Q&A
Q&A 15 15