Axactor SE

Report Publication Announcement • May 27, 2014

NMG: 3 month interim report for the period January - March 2014 - Nickel Mountain Group (publ) AB

NMG: 3 month interim report for the period January - March 2014 - Nickel Mountain Group (publ) AB

Highlights during the 1st quarter 2014

· Work continued on the Rönnbäcken project's Pre-feasibility Study

(PFS) during the first quarter of 2014.

· SRK Consulting completed a detailed review of the estimated costs

and the timeline for completing the PFS.

· New management of Nickel Mountain Group (NMG), including a new

Managing Director, was in place on January 1.

· A debt set-off issue amounting to Swedish Krone 11.8 million (MSEK)

was conducted at the end of January 2014, whereby 3,052,799 new shares

were issued.

· A legal process for suing the people responsible for the negative

consequences of the Ghana Gold-transaction has been prepared by a

leading Swedish law firm on behalf of NMG and will shortly be filed with

the Stockholm District Court.

· The net result after tax for the January to March quarter of 2014

attributable to the shareholders of the parent company amounted to MSEK

-6.9 (MSEK -6.0). This corresponds to earnings per share (EPS) of SEK

-0.34 (SEK -0.33).

· The total comprehensive loss for the first quarter of 2014 was MSEK

-7.0 (MSEK -8.8).

(Complete report enclosed for the first quarter 2014)