Boliden — Earnings Release 2026

Apr 28, 2026

Boliden's Q1 2026: Solid performance despite abnormal seismic activity in Garpenberg

Boliden's Q1 2026: Solid performance despite abnormal seismic activity in Garpenberg

"In times like these it is even more important to focus on what you can

influence and that is what our organization does and will do relentlessly." -

Mikael Staffas, President and CEO.

Financials

.         Revenues: SEK 27,822 m (21,121)

.         Operating profit: SEK 5,247 m (3,062)

.         Operating profit excl. PIR*: SEK 4,432 m (2,599)

.         Free cash flow: SEK 1,673 m (-1,869)

.         Earnings per share: SEK 13.45 (7.99)

*Process Inventory Revaluation

Highlights

.         Solid performance in both Mines and Smelters

.         Stronger metal prices

.         Continued strong mine production in Aitik and Kevitsa

.         A strong year on year gold and silver production increase in Smelters

.         Abnormal seismic activity in Garpenberg caused a SEK 700 m asset write

-down and a negative volume effect of SEK 400 m

.         Odda has started to ramp up its expansion project

.         Updated guidance for 2026 in Garpenberg: milled volume 1.5 Mtonnes,

zinc grade 2.7%, silver grade 100g/t. Previous estimates were 3.7 Mtonnes, 2.9%

and 95g/t respectively. Milled production in the second quarter of 2026 is

expected to 0.1 Mtonnes.

.         Garpenberg's 2027 milled volume is estimated to be 2.3 Mtonnes

The Interim Report will be presented via webcast/conference call on Tuesday,

April 28 at 09:00 (CEST). Information is available at www.boliden.com.

For further information, please contact:

Olof Grenmark

Director Investor Relations

+46 70291 57 80

Olof.Grenmark@boliden.com

This information is information that Boliden AB is obliged to make public

pursuant to the EU Market Abuse Regulation. The information was submitted for

publication, through the agency of Director Investor Relations, at 07:30 CEST on

April 28, 2026.

Metals for generations to come

Boliden's vision is to be the most climate-friendly and respected metal provider

in the world. We are Europe's producer of sustainable metals and, guided by our

values care, courage and responsibility, we operate within exploration, mines,

smelters and recycling. We are around 8,000 employees and have annual revenues

of approximately SEK 90 billion. The share is listed in the Large Cap segment of

NASDAQ Stockholm.

www.boliden.com