Endomines — Earnings Release 2022

Apr 28, 2023

Correction to 2022 financial statement release

Correction to 2022 financial statement release

Endomines Finland Plc - Financial Statement Release, 28.4.2023, at 16.00 EET.

In connection with the Group's audited Financial Statements, the company revises
the figures in the Group's Consolidated Income Statement and Balance Sheet,
published in the FY 2022 Financial Statements Release on 15 February 2023.

The corrections have no effect on the turnover, operational costs, or EBITDA of
the financial year 2022. Corrections have no cash flow effect.

+-------------------------------------------------+-----------------------------
-----------------------+----------+
|FY 2022, MEUR                            |Before
correction                       |After |
| |
|correction|
+-------------------------------------------------+-----------------------------
-----------------------+----------+
| |
| |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|Consolidated statement of comprehensive income |
| |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|Depreciation and impairment   |-9.1
|-8.3 |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|Operating profit                      |-15.5
|-14.7 |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|Financial income                             |0.0
|0.3 |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|Financial expenses                        |-2.4
|-3.0 |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|Earnings before tax                  |-17.9
|-17.5 |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|Result for the year                   |-17.9
|-17.5 |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|Translation differences              |2.9
|2.8 |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|Comprehensive result                  |-15.0
|-14.7 |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|Earnings per share*, eur          |-1.93
|-2.70 |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
| |
| |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|Consolidated balance sheet |
| |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|Tangible fixed assets                     |14.8
|14.9 |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|Total non-current assets              |48.8
|48.9 |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|TOTAL ASSETS                                |54.9
|55.0 |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
| |
| |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|Retained earnings                        |
-132.5                                            |-132.0 |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|Total equity
|35.9                                                |36.3 |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|Provisions                                       |1.5
                      |1.4 |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|Total long-term liabilities
|12.0                                                |11.9 |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|Interest-bearing liabilities s-t
|0.0                                                 |0.1 |
+-------------------------------------------------+-----------------------------
-----------------------+----------+
|TOTAL EQUITY AND LIABILITIES
|54.9                                               |55.0 |
+-------------------------------------------------+-----------------------------
-----------------------+----------+

*In this chart and in the financial statements release published on 15 February
2023, the earnings per share is presented according to the number of shares at
the end of the reporting period on 31 December 2022, which was 9287959 shares.
In the annual report, earnings per share will be presented on the weighted
average number of shares for the financial year 2022 which was 6 470 323 shares
and the earnings per share was -2.70 euros for year 2022 period based on the
weighted average number of shares.

Endomines Finland Plc

Further information

Mikko Sopanen
CFO, Endomines Finland Oyj
mikko.sopanen@endomines.com, +358 50 434 7439

Endomines

Endomines is a mining and exploration company with its primary focus on gold.
Endomines is engaged in mining operations at the Pampalo mine in Ilomantsi, and
in exploration activities along the Karelian Gold Line in Eastern Finland.
Endomines also owns rights to several gold deposits in Idaho and Montana, US,
where Endomines aims to continue the development work through partnership
agreements. www.endomines.com

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