Green Minerals — Earnings Release 2022

Aug 31, 2022

Green Minerals AS: Second-Quarter Results 2022

Green Minerals AS: Second-Quarter Results 2022

Asker - August 31, 2022 – Green Minerals AS (“the Company”) announced today results for the second quarter of 2022 which ended 30 June 2022.

HIGHLIGHTS:

* Q2 revenue of nil (nil prior year quarter)

* Q2 EBITDA of NOK -2.5 million (NOK -2.1 million prior year quarter)

* Completed our first research cruise

* Received all released data from NPD. Started integration into our own workflow and exploration framework.

* Finalizing rock characterization study on Seafloor Massive Sulphides material from the Atlantic.

* Signed a Memorandum of Understanding with a strong industry consortium establishing collaboration for the development of a Harsh Environment Deep Sea Mining System (HEDSMS) against a long-term contract for exclusive use in Norwegian waters

* Oil States Industries (UK) becomes a shareholder in Green Minerals

* Norwegian authorities opening process still on track and time

* Longer term market outlook for key battery metals remains robust

Please find the full report and a presentation attached.

AUDIOCAST INFORMATION:

Date: 31 August 2022

Time: 10:00 CEST

A live audiocast held by Green Energy Group (Seabird Exploration Plc), the parent company of Green Minerals AS, will take place today at 10:00 CEST. This presentation will include a quarterly update on Green Minerals AS. There will be a Q&A session at the end of the presentation, and written questions can be submitted through the audiocast solution. To join the live audiocast, follow the link below. Please note that a recorded version will be available shortly after the presentation by using the same link.

https://teams.microsoft.com/l/meetup-join/19%3ameeting_NDQ1NDFlMGMtNWM3ZC00MzhjLTg5YzAtNGY4M2Y3ZTNlZjE4%40thread.v2/0?context=%7B%22Tid%22%3A%2265f51067-7d65-4aa9-b996-4cc43a0d7111%22%2C%22Oid%22%3A%22564fb45b-e0eb-4105-8cee-b6bcdb2a390c%22%2C%22IsBroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&btype=a&role=a

ABOUT GREEN MINERALS:

Green Minerals AS is a pioneer in marine minerals on the Norwegian Continental Shelf. Our mission is to deliver minerals for the green energy transition in a responsible and sustainable manner, thereby lowering the environmental impact and reducing the social costs from onshore mining. The Company targets a NOK 1000bn resource potential on the NCS and expects pilot production to commence in 2026. For more, visit www.greenminerals.no

For further queries contact:

CEO, Ståle Monstad at +47 915 54 644