Axactor SE

Share Issue/Capital Change • Nov 28, 2014

NMG: Change in number of shares, votes and share capital

As informed to the market a number of times this month, Nickel Mountain Group AB (publ) ("NMG" or "Company") has in November 2014 completed a rights issue of 68,107,020 new shares. The new shares were registered with the Swedish Companies Register on November 18.

Total number of shares and votes post the rights issue thereby increased from 22,702,340 to 90,809,360.

The share capital increased by SEK 34,053,310 to SEK 45,404,680.

The information regarding number of shares, votes and share capital follows standard information requirements for Swedish public companies at end of month during periods when the share capital has been changed.

For and on behalf of the Board of Directors of Nickel Mountain Group AB

Torbjorn Ranta

Managing Director

For information, please contact Torbjorn Ranta

Mail: torbjorn.ranta@nickelmountain.se

Tel: + 46 8 402 28 00

Cell Phone: +46 708 855504

Cautionary Statement: Statements and assumptions made in this document with respect toNickel MountainGroupAB's ("NMG") current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of NMG. Forward-looking statements include, but are not limited to, those usingwords such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to, (i) changes in the economic, regulatory and political environments in the countries whereNMGoperates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) NMG's continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) metal prices, particularly as regards nickel. In the light of the many risks and uncertainties surrounding any mineral project at an early stage of its development, the actual results could differ materially fromthose presented and forecast in this document. NMGassumes no unconditional obligation to immediately update any such statements and/or forecasts.