EURASIA MINING PLC

Interim / Quarterly Report • Sep 30, 2025

National Storage Mechanism | Additional information

RNS Number : 2922B

Eurasia Mining PLC

30 September 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN REGULATION NO. 596/2014 (AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE  EUROPEAN UNION  (WITHDRAWAL) ACT 2018) AND IS IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 7 OF THAT REGULATION.

30 September 2025

Eurasia Mining plc

("Eurasia" or the "Company")

Interim Results for the six months ended 30 June 2025

EXECUTIVE CHAIRMAN STATEMENT

​

Dear Shareholder,

It gives me great pleasure to summarise our progress for you as the first half of 2025 saw major improvements to our assets. West Kytlim mine is now in a position to significantly step up its precious metals production, while our NKT licence has been extended to allow time to apply for a production permit. A summary of both projects follows.

As announced in our 2024 annual report in the financial statements, the top-line of the P&L of the Company more than tripled (3.3X) in comparison to the previous year, setting a new historical high. However, due to the FOREX fluctuations of the intercompany loans during 2024, the bottom-line was negative despite the profitability of Eurasia's subsidiary's Kosvinsky Kamen (KK), the owner of the West Kytlim mine. These FOREX paper losses were reversed in 1H2025, that results in the Group's £6.4m profit before tax, setting a new record and a milestone for Eurasia.

URALS PRODUCTION CLUSTER

As previously announced, six wholly-owned enrichment plants have been successfully launched to full commercial scale production, representing a doubling of the previously installed enrichment capacity and six times the average enrichment capacity utilised over the past two years.

A fleet of seven heavy 39-ton Chinese FAW trucks has been added to scale up both stripping and mining capacity. All seven trucks are in operation, making the total truck capacity two to three times the capacity of KAMAZ trucks used previously and with improved production logistics, a net 20x improvement. This is primarily due to significantly shorter transportation distances to optimised locations of the six enrichment plants relative to the mining blocks.

Three heavy Chinese Lonking excavators with increased shovel capacity have been acquired. These excavators, together with the electric dragline launched in 2023 (which has a 4.2 million m3 of annual installed capacity) and fully refurbished over 2024-2025 with new engine, shovel, and ancillaries), have doubled the previously installed excavation capacity in terms of the total shovel size. This capacity is already significantly adding to both stripping and mining volumes.

A South Korean Shantui heavy bulldozer was also acquired to further increase the stripping capacity and production volumes in 2025. This has allowed one of the smaller bulldozers to be allocated to road repairs, resulting in higher productivity of the trucks with lower diesel consumption.

In total, six enrichment plants (plus enrichment workshop/laboratory), 15 excavators, seven bulldozers and 18 dump trucks are being utilised in 2025.

As a result, record setting volumes were achieved as announced via RNS on 28 July 2025. These volume increases represent completion of a step-change milestone to achieve the long-term annual target of 64Koz of precious metals over the projected 20-year life of mine (please refer to RNS published on 1 July 2020).

Platinum market is now in deficit for the fifth consecutive year [1] , particularly in 2023-2025

2023: The platinum market experienced a significant deficit of approximately 600-900 koz; average price was about $965/oz amid stock depletion and subdued movements [2] .

2024: Deficits deepened to 700-1,000 koz (significant relative to global mining of 4.5 moz) with demand rising; prices remained rangebound at $900-1,000/oz on average (~$954/oz), influenced by further stock depletion despite supply constraints2.

2025 (YTD): Ongoing deficits of 700-1,000 koz projected, with declining supply; prices broke a multi-year slump, surging ~40% in 1H2025 to above $1,400/oz due to tightening supply and strong investment demand [3] . On 26 September 2026 it reached $1564/oz.

Outlook: Structural deficits are likely to persist into 2026 and beyond, supporting price upside [4] . Also, due to scarcity of platinum (4.5 moz annual mining relative to 87.5 moz of gold mining) the platinum price had been consistently outperforming the gold price until 2015, when the gold price broke out. The platinum price has been catching up recently surging circa 40% in 1H2025, but still has significant potential upside relative to the gold price. Please refer to the chart below:

ARCTIC FIRST MOVER CLUSTER

With its Kola brownfield restart assets Eurasia is well established in the Arctic, where the Company has the first mover advantage and a competitive edge with the existing infrastructure of the formerly producing NKT mine. The Arctic has been announced as a priority area for co-operation between the United States and Russia, boosted by the recent Pursuing Peace Summit held in Alaska.

NKT is Tier-1 scale mine (that used to be in production) that contains 305Kt of Nickel, 143Kt of Copper, 57 tons of platinum group metals ("PGM") and Gold as confirmed in the Competent Person Report (the "CPR") by Wardell Armstrong International ("WAI") in 2021.

As announced via RNS on 27 August 2025, Eurasia's Arctic subsidiary Terskaya Mining Company (TMC) completed additional drilling of 16,417 meters with 9,224 samples being tested by SGS and Alex Stewart International for primary and secondary controls of the PGM assays on the historical drill core and the trenches by Severonickel / Norilsk Nickel.

This will allow an upgrade from resources to reserves under the JORC Code as well as the state standards and allow the application for a production permit at NKT.

In recognition of significant work done by TMC in accordance with the licence agreement, the existing NKT licence of TMC that was supposed to expire on 20 August 2025 was extended by the relevant authorities to 20 August 2027 to allow more than sufficient time to smoothly transition to the production permit. The Directors are looking forward to making further updates on the exciting developments of Eurasia's Kola company making brownfield restart assets.

MARKETING

The Company achieved its goal of a secondary listing on the Astana International Exchange (AIX) in Kazakhstan. A broker note was produced in the local language for this market. Further research is expected in the coming several weeks.

THE FUTURE

As you can see, your Company has successfully managed to secure its assets and enhance them. With these new milestones as described, additional value has been created to further increase our chances of successful completion of the sale process. We will continue to work on achieving liquidity events for all shareholders.

Christian Schaffalitzky

Executive Chairman

Condensed consolidated statement of comprehensive income

for the six months ended 30 June 202 5

	Note	6 months to	12 months to	6 months to
		30 June	31 December	30 June
		202 5	202 4	202 4
		(unaudited)	(audited)	(unaudited)
		£	£	£
Sales	4	-	6,636,001	-
Cost of sales		-	(6,701,131)	-
Gross profit			(65,130)	-
Administrative costs		(1,220,285)	(2,055,218)	(885,970)
Investment income		186,702	3,232	2,958
Finance costs		(280,093)	(144,695)	(49,145)
Other gains	5	7,868,944	-	1,230,703
Other losses	5	(135,190)	(6,385,687)	(870,249)
Profit/(loss) before tax		6,420,078	(8,647,498)	(571,703)
Income tax expense		(1,242)	(347)	-
Profit/(loss) for the period		6,418,836	(8,647,845)	(571,703)
Other comprehensive (loss)/income:
Items that will not be reclassified subsequently to profit and loss:
NCI share of foreign exchange differences on translation of foreign operations		(1,159,340)	901,049	(134,419)
Items that will be reclassified subsequently to profit and loss:
Parents share of foreign exchange differences on translation of foreign operations		(2,750,579)	2,319,969	(264,735)
Other comprehensive (loss)/income for the period, net of tax		(3,909,919)	3,221,018	1,351,389
Total comprehensive income/(loss) for the period		2,508,917	(5,426,827)	(970,857)
Profit/(loss) for the period attributable to:
Equity holders of the parent		4,561,693	(6,552,157)	(553,519)
Non-controlling interest		1,857,143	(2,095,688)	(18,184)
		6,418,836	(8,647,845)	(571,703)
Total comprehensive income/(loss) for the period attributable to:
Equity holders of the parent		1,811,114	(4,232,188)	(818,254)
Non-controlling interest		697,803	(1,194,639)	(152,603)
		2,508,917	(5,426,827)	(970,857)
Basic and diluted loss (pence per share)		0.16	(0.23)	(0.02)

Condensed consolidated statement of financial position

As at 30 June 202 5

	Note	At 30 June  202 5	At 31 December 202 4	At 30 June 202 4
		(unaudited)	(audited)	(unaudited)
		£	£	£
ASSETS
Non-current assets
Property, plant and equipment	6	10,399,446	6,928,215	9,473,508
Assets in the course of construction		392,213	161,131	518,150
Intangible assets	7	3,668,526	2,761,023	3,436,107
Investment in financial assets			-	-
Total non-current assets			9,850,369	13,427,765
Current assets
Inventories		2,581,413	322,597	4,127,939
Trade and other receivables	8	927,048	1,482,947	1,271,268
Other financial assets		428,030	30,561	67,304
Current tax assets		4,243	3,019	4,661
Cash and bank balances		1,872,447	3,682,292	215,922
Total current assets		5,813,181	5,521,416	5,687,094
Total assets		20,273,366	15,371,785	19,114,859
EQUITY
Capital and reserves
Issued capital	9	64,477,397	61,575,811	61,233,311
Reserves	10	4,118,260	6,868,839	4,284,135
Accumulated losses		(46,048,020)	(50,609,713)	(44,611,075)
Equity attributable to equity holders of the parent		22,547,638	17,834,937	20,906,371
Non-controlling interest		(4,564,280)	(5,262,083)	(4,220,047)
Total equity		17,983,358	12,572,854	16,686,324
LIABILITIES
Non-current liabilities
Lease liabilities	12	-	-	6,142
Provisions	14	386,191	250,695	389,325
Total non-current liabilities		386,191	250,695	395,467
Current liabilities
Borrowings	11	642,741	262,706	50,713
Lease liabilities	12	208,014	26,105	113,324
Trade and other payables	13	831,501	2,101,359	1,843,351
Current tax liabilities		906	221	-
Provisions	14	220,655	157,845	25,680
Total current liabilities		1,903,81 7	2,548,236	2,033,068
Total liabilities		2,290,00 8	2,798,931	2,428,535
Total equity and liabilities		20,273,366	15,371,785	19,114,859

Condensed statement of changes in equity

For the six months ended 30 June 202 5 (unaudited)

		Attributable to owners of the parent
	Note	Share capital	Share premium	Deferred shares	Other reserves	Foreign currency translation reserve	Accumulated losses	Total attributable to owners of parent	Non-controlling interest	Total equity
		£	£	£	£	£	£	£	£	£
Balance at 1 January 2025		2,879,382	51,670,946	7,025,483	3,539,906	3,328,933	(50,609,713)	17,834,937	(5,262,083)	12,572,854
Issue of shares		72,033	2,829,554					2,901,587		2,901,587
Transaction with owners
Loss for the period							4,561,693	4,561,693	1,857,143	6,418,836
Other comprehensive loss
Exchange differences on translation of foreign operations						(2,750,579)		(2,750,579)	(1,159,340)	(3,909,919)
Total comprehensive income						(2,750,579)	4,561,693	1,811,114	697,803	2,508,917
Balance at 30 June 202 5		2,951,415	54,500,500	7,025,483	3,539,906	578,354	(46,048,020)	22,547,638	(4,564,280)	17,983,358

Condensed statement of changes in equity

For the six months ended 30 June 2024 (unaudited)

		Attributable to owners of the parent
	Note	Share capital	Share premium	Deferred shares	Other reserves	Foreign currency translation reserve	Accumulated losses	Total attributable to owners of parent	Non-controlling interest	Total equity
		£	£	£	£	£	£	£	£	£
Balance at 1 January 2024		2,864,560	51,343,268	7,025,483	3,539,906	1,008,964	(44,057,556)	21,724,625	(4,067,444)	17,657,181
Transaction with owners		-	-	-	-	-	-	-	-	-
Loss for the period		-	-	-	-	-	(494,924)	(494,924)	(3,535)	(498,459)
Other comprehensive loss
Exchange differences on translation of foreign operations		-	-	-	-	(323,330)	-	(323,330)	(149,068)	(472,398)
Total comprehensive income		-	-	-	-	(323,330)	(494,924)	(818,254)	(152,603)	(970,857)
Balance at 30 June 2024		2,864,560	51,343,268	7,025,483	3,539,906	685,634	(44,552,480)	20,906,371	(4,220,047)	16,686,324

Condensed consolidated statement of cash flows

for the six months ended 30 June 202 5

		6 months to 30 June	12 months to 31 December	6 months to 30 June
		202 5	202 4	202 4
		(unaudited)	(audited)	(unaudited)
		£	£	£
Cash flows from operating activities
Loss for the period		6,418,836	(8,647,845)	(571,703)
Adjustments for:
Depreciation and amortisation of non-current assets		254,591	2,983,691	1,929,115
Finance costs recognised in profit or loss		280,093	144,695	49,145
Investment revenue recognised in profit or loss		(186,702)	(3,232)	(2,958)
(Gain)/loss on disposal of investments			-	-
Impairment loss/(reversal) recognised on inventory		135,190	-	870,249
Rehabilitation cost recognised in profit or loss		2 7 , 960	40,374	(33,709)
Income tax expense recognised in profit or loss		1,242	347	-
Net foreign exchange (profit)/loss		(7,868,944)	6,385,687	(1,230,703)
		(937,734)	903,717	1,009,436
Movements in working capital
(Increase)/decrease in inventories		(2,474,638)	1,521,567	(2,582,503)
Decrease/(increase) in trade and other receivables		295,948	(2,328)	526,726
(Decrease)/increase in trade and other payables		(849,748)	1,523,743	913,478
Cash (used in)/generated by operations		(3,966,172)	3,946,699	(132,863)
Income taxes paid		(2,536)	1,410	1,334
Net cash (used in)/generated by operating activities		(3,968,708)	3,948,109	(131,529)
Cash flows from investing activities
Payments for bank trust agreement		(200,557)	-	-
Interest received		-	2,276	-
Proceeds from repayment of non-related party loans		-	25,294	-
Payments for property, plant and equipment		(1,168,297)	(1,522,327)	(887,525)
Payments for other intangible assets		(96,061)	(221,409)	(135,366)
Net cash (used in)/generated by investing activities		(1,464,915)	(1,716,166)	(1,022,891)
Cash flows from financing activities
Proceeds from issues of equity shares		2,901,587	-	-
Proceeds from issue of convertible loan notes		-	342,500
Proceeds from borrowings		329,000	506,883	-
Repayment of short-term loan		(230,482)	(300,151)
Repayment of lease liability		(566,338)	(125,962)	(49,631)
Interest paid		(18,878)	(29,096)	(12,825)
Net cash used in financing activities		2,414,888	394,174	(62,456)
Net (decrease)/increase in cash and cash equivalents		(3,018,734)	2,626,116	(1,216,876)
Effects of exchange rate changes on the balance of cash held in foreign currencies		1,208,889	(261,889)	114,733
Cash and cash equivalents at the beginning of period		3,682,292	1,318,065	1,318,065
Cash and cash equivalents at the end of the period		1,872,447	3,682,292	215,922

Selected notes to the condensed consolidated financial statements

for the six months ended 30 June 202 5

1. General information

Eurasia Mining plc (the "Company") is a public limited company incorporated and domiciled in Great Britain with its registered office at International House, 42 Cromwell Road, London SW7 4EF, United Kingdom and principal place of business at Clubhouse Bank, 1 Angel Court, EC2R 7HJ. The Company's shares are listed on AIM, a market of the London Stock Exchange. The principal activities of the Company and its subsidiaries (the "Group") are related to the exploration for and development of platinum group metals, gold and other minerals.

The financial information set out in these condensed interim consolidated financial statements (the "Interim Financial Statements") do not constitute statutory accounts as defined in Section 435 of the Companies Act 2006. The Group's statutory financial statements for the year ended 31 December 2024, prepared in accordance with UK-adopted International Accounting Standards, have been filed with the Registrar of Companies. The auditor's report on those financial statements was unqualified. The report did not contain a statement under Section 498(2) of the Companies Act 2006.

2. Basis of preparation

The Group prepares consolidated financial statements in accordance with UK-adopted International Accounting Standards in conformity with the requirements of the Companies Act 2006. These condensed consolidated interim financial statements for the period ended 30 June 2025 have been prepared by applying the recognition and measurement provisions of the standards and the accounting policies adopted in the audited accounts for the year ended 31 December 202 4 .

These Interim Financial Statements have been prepared under the historical cost convention.

The accounting policies have been applied consistently throughout the Group for the purposes of preparation of these condensed consolidated interim financial statements.

The Interim Financial Statements are presented in Pounds Sterling (£), which is also the functional currency of the parent company.

3. Accounting policies

The Interim Financial Statements have been prepared in accordance with the accounting policies adopted in the Group's last annual financial statements for the year ended 31 December 202 4 .

4. Revenue

		6 months to	12 months to	6 months to
		30 June	31 December	30 June
		202 5	202 4	202 4
		£	£	£
Sale of concentrates containing platinum and other metals		-	6,636,001	-
		-	6,636,001	-

Selected notes to the consolidated financial statements

for the six months ended 30 June 202 5 (continued)

5. Other gains and losses

		6 months to	12 months to	6 months to
		30 June	31 December	30 June
		202 5	202 4	202 4
		£	£	£
Gains
Net foreign exchange gain		7,868,944	-	1,230,703
			-	1,230,703
Losses
Loss on revaluation of stock to net realisable value		(135,190)	-	(870,249)
Net foreign exchange loss		-	(6,385,687)	-
		7,733,754	(6,385,687)	(870,249)
		7,733,754	(6,385,687)	360,454

The majority of the foreign exchange gains and losses are a result of the revaluation of monetary assets and liabilities in the subsidiary accounts as a result of movements in the Rouble exchange rates.

Loss on revaluation of stock available at 30 June 202 5 represents platinum concentrate ready for sale or refining, which was valued (i) using methodology set in the refining and sale and purchase agreement made with local refinery and (ii) exchange rate and metal prices at 30 June 202 5 .

6. Property, plant and equipment

		30 June	31 December	30 June
		202 5	2024	202 4
		£	£	£
Net book value at the beginning of period		6,928,215	10,210,983	10,210,983
Additions		910,049	1,310,899	719,325
Transferred from assets under construction		809,957	319,213	2,305
Depreciation		(254,591)	(2,983,691)	(1,929,115)
Exchange differences		2,005,816	(1,929,189)	470,010
Net book value at the end of period		10,399,446	6,928,215	9,473,508

Selected notes to the consolidated financial statements

for the six months ended 30 June 202 5 (continued)

7. Intangible assets

		30 June	31 December	30 June
		202 5	202 4	202 4
		£	£	£
Net book value at the beginning of period		2,761,023	3,148,382	3,148,382
Additions		96,061	221,409	135,366
Exchange differences		811,442	(608,768)	152,359
Net book value at the end of period		3,668,526	2,761,023	3,436,107

Intangible assets represent capitalised costs associated with Group's exploration, evaluation and development of mineral resources.

8. Trade and other receivables

		30 June	31 December	30 June
		202 5	202 4	202 4
Trade receivables		-	948,766	-
Advances made		136,946	-	17,271
Prepayments		12,235	16,077	24,730
VAT recoverable		531,186	445,525	521,875
Mining tax refund due		-	-	408,462
Other receivables		246,681	72,579	298,930
		927,048	1,482,947	1,271,268

The fair value of trade and other receivables is not materially different to the carrying values presented. None of the receivables are provided as security or past due.

Selected notes to the consolidated financial statements

for the six months ended 30 June 202 5 (continued)

9. Share capital

		30 June	31 December	30 June
		202 5	202 4	202 4
Issued ordinary shares with a nominal value of 0.1p:
Number		2,951,414,924	2,879,381,734	2,864,559,995
Nominal value (£)		2,951,415	2,879,382	2,864,560
Fully paid ordinary shares carry one vote per share and carry the right to dividends.
Issued deferred shares with a nominal value of 4.9 p:
Number		143,377,203	143,377,203	143,377,203
Nominal value (£)		7,025,483	7,025,483	7,025,483

Deferred shares have the following rights and restrictions attached to them:

- they do not entitle the holders to receive any dividends and distributions;

- they do not entitle the holders to receive notice or to attend or vote at General Meetings of the Company;

- on return of capital on a winding up the holders of the deferred shares are only entitled to receive the amount paid up on such shares after the holders of the ordinary shares have received the sum of 0.1p for each ordinary share held by them and do not have any other right to participate in the assets of the Company.

There had been no change in the issued share capital during the reporting period

Ordinary shares		Number of shares	Share capital	Share premium
			£	£
Balance at 1 January 2025		2,879,381,734	2,879,382	51,670,946
Balance at 30 June 2025		2,951,414,924	2,951,415	54,500,499
Deferred shares		Number of deferred shares	Deferred share capital
			£
Balance at 1 January and 30 June 2025		143,377,203	7,025,483

10. Reserves

		30June	31December	30June
		2025	2024	2024
		£	£	£
Capital redemption reserve		3,539,906	3,539,906	3,539,906
Foreign currency translation reserve		578,354	3,328,933	744,229
Equity-based payment reserve			-	-
		4,118,260	6,868,839	4,284,135

The capital redemption reserve was created as a result of a share capital restructuring in earlier years. There is no policy of regular transactions affecting the capital redemption reserve.

The foreign currency translation reserve represents exchange differences relating to the translation from the functional currencies of the Group's foreign subsidiaries into GBP.

The equity-based payments reserve represents a reserve arisen on (i) the grant of share options to employees under the employee share option plan and (ii) on issue of warrants under terms of professional service agreements. 

Selected notes to the consolidated financial statements

for the six months ended 30 June 2025 (continued)

11. Borrowings

		30 June	31 December	30 June
		2025	2024	2024
		£	£	£
Current
Unsecured loan		642,741	262,706	50,713
		642,741	262,706	50,713

In 2024 the Company signed a convertible loan agreement with Sanderson Capital Partners Ltd to borrow up to GBP 2,500,000 ("Sanderson Facility"). As announced on 28 March 2025, Eurasia did a strategic private placing among US and UK institutional investors and ceased using Sanderson Facility.

12. Lease liabilities

The Group has the following leases in place:

i) Leases of mining equipment. The Group has an option to purchase the equipment for a nominal amount at the maturity of the finance lease. The Group's obligation under finance leases are secured by the lessor's title to the leased assets.

Interest rates underlying obligations under finance leases are fixed at respective contract dates ranging from 21.9% to 23.5% per annum. For comparison Russian central bank rate is 19% at the date of this report.

ii) Rent of offices and other properties. The average lease term is three years expiring in 2025. There is no option to purchase properties at the end of rental period.

Minimum lease payments		30 June	31 December	30 June
		2025	2024	2024
		£	£	£
Less than one year		224,668	27,173	118,706
Between one and five years		-	-	6,320
			27,173	125,026
Less future finance charges		(16,654)	(1,068)	(5,560)
Present value of minimum lease payments		208,014	26,105	119,466
Present value of minimum lease payments		30 June	31 December	30 June
		2025	2024	2024
		£	£	£
Less than one year		208,014	26,105	113,324
Between one and five years			-	6,142
Present value of minimum lease payments		208,014	26,105	119,466

Selected notes to the consolidated financial statements

for the six months ended 30 June 2025 (continued)

13. Trade and other payables

		30 June	31 December	30 June
		2025	2024	2024
Trade payables		514,739	1,045,818	1,111,521
Accruals		124,125	198,622	239,346
Social security and other taxes		34,095	760,759	226,368
Other payables		158,54 2	96,160	266,116
		831,50 1	2,101,359	1,843,351

The fair value of trade and other payables is not materially different to the carrying values presented. The above listed payables were all unsecured.

14. Provision

		30 June	31 December	30 June
		2025	2024	2024
		£	£	£
Long term provision:
Environment rehabilitation		386,191	250,695	389,325
Short term provision:
Environment rehabilitation		220,655	157,845	25,680
		606,846	408,54 0	415,005
Movement in provision		Six month to	12 month to	Six month to
		30 June	31 December	30 June
		2025	2024	2024
		£	£	£
At 1 January		408,540	397,747	397,747
Utilised in the period		26,695	40,374	-
Reduction resulting from re-measurement or settlement without cost			-	(33,709)
Unwinding of discount and effect of changes in the discount rate		35,366	67,766	31,988
Exchange difference		136,245	(97,347)	18,979
At the end of the period		606,846	408,540	415,005

Provision is made for the cost of restoration and environmental rehabilitation of the land disturbed by the West Kytlim mining operations, based on the estimated future costs using information available at the reporting date.

The provision is discounted using a risk-free discount rate of from 1 2 . 99 % to 14. 99 % (202 4 : 14.66% to 16.67% ) depending on the commitment terms, attributed to the Russian Federal Bonds.

Provision is estimated based on the sub-areas within general West Kytlim mining licence the company has carried down its operations on by the end of the reporting period. Timing is stipulated by the forestry permits issued at the pre-mining stage for each of sub-areas. Actual costs in respect of the long-term provision recognised by 30 June 202 5 will be incurred within 2025-2040.

Selected notes to the consolidated financial statements

for the six months ended 30 June 2024 (continued)

15. Commitments

During 202 5 the Group entered into several lease agreements to lease mining plant and equipment. As at 30 June 202 5 the average lease term was one year.

During 2023 the Group entered into several rent agreements to rent office and other properties. As at 30 June 202 5 the average rental term was 6 months .

Present value of minimum lease payments £ 208 , 014 (30 June 202 4 : £119,466).

---

[1] Sources: Norilsk Nickel

[2] Sources: Johnson Matthey, WPIC, Macrotrends

[3] Sources: Johnson Matthey, WPIC, Macrotrends, IMPI

[4] Sources: Johnson Matthey, WPIC, Grand View Research

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

IR SEIFMUEISEIU