Akobo Minerals — Earnings Release 2025

Mar 10, 2026

Akobo Minerals announces preliminary fourth quarter results 2025

Akobo Minerals announces preliminary fourth quarter results 2025

OSLO, 10 March 2026:Akobo Minerals AB (publ) (Euronext Growth Oslo and

Frankfurt: AKOBO), the Scandinavian-based Ethiopian gold producer and explorer,

today announced its results for the fourth quarter of 2025.

The fourth quarter marked Akobo Minerals' strongest operational quarter to date,

with revenues of SEK 29.8 million (USD 3.2 million) and EBITDA of SEK 12.9

million (USD 1.4 million), representing the Company's second consecutive

EBITDA-positive quarter. Cash at the end of the quarter amounted to SEK 33.1

million (USD 3.6 million). The Company expects to remain EBITDA-positive in the

first quarter of 2026.

IMPORTANT EVENTS IN THE FOURTH QUARTER 2025

· Gold production of approx. 21.5 kg at an average grade of 22.2 g/t

· Second consecutive EBITDA positive quarter of approx. USD 1.4m

· Revenue of approx. USD 3.2m

· Cumulative production reached approx. 73.0 kg since start-up

· Headgear fabrication complete and in transit to site

· Decision taken to extend the vertical shaft to final planned depth in one

continuous phase

· Civil works commenced for the vertical shaft headgear foundation

· All remaining convertible bonds converted into equity, simplifying the

capital structure

· Approx. 600 tonnes of blended material available for processing at quarter

end

POST-PERIOD DEVELOPMENTS

· Gold production of approx. 8.0 kg in January and 7.5 kg in February,

totalling 15.5 kg at an average grade of 25.0 g/t

· Cumulative production reached approx. 80.5 kg since start-up

· Cash and unsold gold amounted to approx. USD 6.0m at the end of February

· Civil works for the vertical shaft headgear foundation were completed

· Temporary winch and headgear installation completed

· Shaft sinking activities recommenced

FINANCIAL REVIEW

All figures in SEK million

Q4 2025 YTD 2025

Revenue 29.8 66.7

EBITDA 12.9 6.8

Cash Flow 1.9 4.2

Cash at end of period 33.1

Total Equity -183.0

Long-term Debt 383.5

*Q4 2025 report not reconciled with the 2024 annual accounts exchange rate

adjustments

Akobo Minerals will host a live webcast in English today at 10:00 CET, including

a presentation of the results followed by a Q&A session.

Webcast link: Akobo Minerals Q4 2025

presentation (https://qcnl.tv/p/ZpXUO403fD9aGIiW7F5qrQ)

For more information, contact:

Jørgen Evjen, CEO, Akobo Minerals

Mob: (+47) 92 80 40 14

Mail: jorgen@akobominerals.com

LinkedIn: www.linkedin.com/company/akobominerals

Web: www.akobominerals.com

About Akobo Minerals

Akobo Minerals is a Scandinavian-based gold producer and explorer with over 15

years of active operations in Ethiopia. The Company holds an exploration licence

covering 182 km² and a mining licence covering 16 km² in the Gambela region and

Dima Woreda.

The Segele mine hosts an Indicated and Inferred Mineral Resource of approx.

69,000 ounces at a high average grade of 22.7 g/t gold. The mineralised system

remains open at depth, supporting further resource growth and mine life

extension. In addition, the Company's exploration licence hosts multiple high

-quality targets with significant resource-building potential.

Akobo Minerals places ESG principles at the core of its operations, maintaining

strong relationships with local communities and government authorities. The

Company is committed to sound ethics, transparency and responsible mining

practices.

Akobo Minerals is headquartered in Oslo and is listed on Euronext Growth Oslo

and the Frankfurt Stock Exchange under the ticker AKOBO. In the United States,

the Company's shares trade on the OTC Pink Market under the symbol AKOBF.

The Company fully complies with the JORC Code (2012) and places strong emphasis

on meeting recognised industry standards.