Axactor SE

Interim financial report for the three month period January 1 - March 31, 2015 (Quarter 1, 2015)

Highlights during the report period

· The work on the Pre-feasibility study ("PFS") relating to the Rönnbäcken

nickel project ("RNP") continued during the first quarter of 2015 with a focus

on environmental tests and the magnetite by-product.

· NMG submitted a statement to a local court in Northern Sweden, which

reviewed an appeal against a prolongation in 2014 of one of NMG's exploration

permits.

Major events after end of the report period

· In April, after end of the report period, the first long-term environmental

test of four waste rock samples from RNP was completed and reported with good

results.

· A desk study on the iron oxide (magnetite by-product) was obtained from a

global steel industry consultancy firm. The report recommends NMG to produce a

value added product from the magnetite concentrate.

· The administrative court (Förvaltningsdomstolen) in Luleå, Sweden, has in

the middle of May repealed the extension of one of the exploration permits

granted to NMG.

· The Claim on Alluvia Mining was reclassified as contingent asset according

to IAS 37 with effect year end 2014.

Financial results for the quarter January - March 2015

· The net result after tax for the 3-month period January - March 2015

amounted to MSEK -1.0 (MSEK -6.9). This corresponds to earnings per share (EPS)

of SEK -0.01 (SEK -0.34 including discontinued operations and SEK -0.17

excluding discontinued operations).

· The total comprehensive result for first quarter of 2015 was MSEK -1.0 (MSEK

-6.9).

(Complete report enclosed for the first quarter 2015)

Torbjörn Ranta

Managing Director

Tel: 46 8 402 28 00

Mobile: 46 708 855504

The vision of Nickel Mountain Group AB is to be an explorer and miner recognized

for our attractive assets and ability to effectively run projects from

exploration to commercialization, leaving a lasting footprint within the regions

we operate through investments, community engagement and transfer of expertise.

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