Akobo Minerals Ab · OSL:AKOBO
Akobo Minerals Ab — Q2 2025 Earnings Presentation
23 slides from Akobo Minerals Ab's earnings presentation, Sep 30, 2025
Slide 1: Second quarter 2025 presentation
Second quarter 2025 presentation AKOBO MINERALS AB (publ) 30th September 2025 Euronext – AKOBO OTC – AKOBF 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: Akobo Minerals – an Ethiopian gold producer
Akobo Minerals – an Ethiopian gold producer Operating in Ethiopia ▪ Exploration and mining licenses in the Gambella region and Dima Woreda ▪ Over 15 years of continuous, on-the-ground presence ▪ Strong local foothold based on ethics, transparency, and communication ▪ Listed on Euronext Growth, Oslo
Slide 4: Latest key events
Latest key events ▪ Production of 8 kg in July and 7 kg in August, totaling 15 kg ▪ July achieved ~ 45 g/t grade and >90% purity; all-time average ~20.9 g/t and ~ 80% purity ▪ Gold price remains strong at >USD 3,700/oz ▪ EIH became a shareholder with a USD 3 million investment ▪ Financial restructur
Slide 5: Headgear development
Headgear development Fabrication ▪ Identified as a long-lead item for vertical shaft construction ▪ Fabrication underway having finalised design Logistics ▪ Planning for delivery in progress; to be fabricated, assembled, disassembled, and packed into 2 x 40ft containers (vs 60+ containers for plant
Slide 6: Headgear design
Headgear design Elevator coach Elevator Headgear and top part of shaft 6
Slide 7: Incline shaft development
Incline shaft development Team ▪ Shaft sinking team mobilising; specialised team from Zimbabwe involved Site Preparation ▪ Heavy machinery mobilized ▪ Top area to be flattened ▪ Civils work preparation for head gear and shaft Procurement ▪ Solid amount of rebar and cement in progress for shaft const
Slide 8: Incline shaft design
Incline shaft design ERE 2ALS REIS
Slide 9: Production and sales development
Production and sales development 50 30 20 20 15 15 10 5 Q4-24 Q1-25 Q2-25 Q3-25 est KG gold produced Accumulated ▪ Gold spot price based on LBMA Good Delivery standard (minimum 99.5% purity) 4,6 ▪ Final price achieved is based upon purity of gold delivered ▪ 15% premium when delivering more than 10k
Slide 10: Development of gold loan and free cash flow with increased gold price
Development of gold loan and free cash flow with increased gold price Assumptions and rough estimates FOR ILLUSTRATION ▪ Ounces gold loan 10 000 ▪ Ounces produced 60 000 ▪ Total cost, USD/oz 1 500 Illustration ▪ Free cash flow from the deposit grows faster ▪ Gold price from 2.000 USD/oz to 5.000 USD
Slide 11: Latest financial restructuring
Latest financial restructuring EIH Investment - Historic milestone for Ethiopia and Akobo ▪ Private placement of USD 3m ▪ 15m shares issued @ USD 0.20 ▪ 7,38% ownership before conversion of loans ▪ 6,5% ownership after conversion of loans Monetary Metals - Strong partner in funding, operations and s
Slide 12: Current mining operations
Current mining operations Production Status ▪ Consistent mining operations maintained ▪ Focus on blending high- and low-grade material ▪ Development of new underground areas underway ▪ Eastern winze extension to access deeper ore, increasing blending flexibility Processing Plant Status ▪ Plant impro
Slide 13: ESG, Health and Safety
ESG, Health and Safety Environmental Monitoring ▪ Wastewater ▪ TSF detoxified; water levels continuously monitored; chemical-free leaching ensures safe wastewater ▪ Noise & Air ▪ Air quality (PM2.5/PM10) and noise levels monitored to meet Ethiopian and WHO standards ▪ Compliance ▪ EPA audit complete
Slide 14: Exploration
Exploration Surface Mineralisation ▪ Gold observed in quartz–carbonate–sulphide zones (Wolleta) and quartz–feldspar veins (West Gindibab to Joru); potential low- grade, large-volume targets Data Management ▪ Geological data updated and mapped for the exploration license area Geological Mapping ▪ 70
Slide 15: Focus going forward
Focus going forward Mining Operations ▪ Advance vertical shaft development (headgear construction & shaft sinking) ▪ Ensure consistent mining operations ▪ Optimising recovery and gold purity ▪ Expand mine access to additional ore zones Continue stable, risk- reduced operations Exploration & Developm
Slide 16: Financial performance overview
Financial performance overview All figures in mSEK P&L Development Equity & Debt Development 346,5 10,6 316,3 9,6 282,8 218,6 4,5 Q3-24 Q4-24 Q1-25 Q2-25 -3,1 -3,9 Q3-24 Q4-24 Q1-25 Q2-25 -10,0 -53,1 -96,2 -12,7 -157,8 -14,5 -14,5 -182,3 -16,7 -16,7 Revenues Op. ex EBITDA Equity Debt ▪ The company h
Slide 17: Corporate structure and top shareholders
Corporate structure and top shareholders Corporate structure and listing Transparent corporate structure Top shareholders* Rank Shares % Name 1 19 399 530 9,55 % ATOLI AS ▪ Stock listed on Euronext Growth in Oslo and 2 17 553 012 8,64 % Bernhd. Brekke A/S Frankfurt Stock exchange (ticker AKOBO) Akob
Slide 18: Financial update
Financial update &) AKOBOMINERALS 18
Slide 19: Key metrics
Key metrics Meters died (RC¥OOH) 359 41 143 Aecumated 19975 20328 20328 20729 20872 2oa72 Meters Teonhing 483 788 Channel sampling for HMC panning 483 788 Rockchip Sampling 0 5 Samples Analysis, 20 5 Detaled mapping (square Klomets) ” ‘Assays samples generated (incl OAC) n ecumulted 9782 ays 9732 97
Slide 20: Income statement – Group
Income statement – Group Comments to figures • SEK 9.6 million gold produced • SEK 2.9 million in other expenses mainly relate to consulting services such as accounting, auditing and legal both in Norway and Sweden • SEK 4 million in other expenses mainly relate to mining activities in Ethiopia • Pe
Slide 21: Balance sheet – Group
Balance sheet – Group Comments to figures • Fixed assets are capitalised exploration costs and local mining equipment in Ethiopia • Long term debt is the 9,240 ounces gold loan from Monetary Metals and the NOK 36.9m convertible loans 21
Slide 22: Cash flow – Group
Cash flow – Group Comments to figures • Cash flow from operating activities relates to all entities • Cash flow from investing activities relates only to operational activities capitalised in Ethiopia • Translation differences relates to changes in foreign exchange values on bank deposits 22
Slide 23: Q&A
Q&A 23 23