Nordic Mining ASA — AGM Information 2020

May 14, 2020

MINUTES FROM ANNUAL GENERAL MEETING IN NORDIC MINING ASA

The ordinary general meeting in Nordic Mining ASA was held on 14 May 2020 at 15:30 hours. The general meeting was held digitally due to the corona situation.

THE AGENDA WAS:

1. Opening of the meeting by the Chair of the Board or ^a person authorized by him, and registration of attending shareholders and shares represented by proxy

Kjell Roland opened the meeting.

Present and represented by proxy were the shareholders set out in enclosure 1. In total, 9.83 per cent of the share capital was represented.

lvar S. Fossum and Lars 1<. Grøndahl representing the management, the auditor EY represented by Jon-Michael Grefsrød and the company's legal counsel, Kvale Advokatfirma, represented by Øystein Løken were also present. The chairman of the company's Nomination Committee, Ole G. Klevan was also present.

2. Election of Chair of the meeting and one person to co-sign the minutes together with the Chair

Kjell Roland was elected to chair the meeting. Lars K. Grøndahi was elected to co-sign the minutes from the meeting.

3. Approval of the summons and the agenda

The summons and the agenda were approved.

4. Approval ofthe financial statements and the annual report, including the repor^t on corporate governance

The financial statements and the annual repor^t for 2019 were approved.

The general meeting also approved the company's repor^t on corporate governance prepared in accordance with section 3-3b ofthe Norwegian Accounting Act.

5. Determination of remuneration to the Board ofDirectors

The general meeting determined the following remuneration for 2019:

Chair: NOK 350,000 I3oard members: NOK 210,000

6. Determination of remuneration to the Nomination Committee

The general meeting determined the following remuneration to the Nornination Committee for 2019;

Leader: NOK 50,000 Members: NOK 30,000

7. Determination of remuneration to the company's auditor

The general meeting decided that the remuneration to the company's auditor shall be settled according to the auditors invoicing.

8. Election of Board ofDirectors

In accordance with the Nomination Committee's proposal, the general meeting resolved to re-elect Kjell Roland as Chair and Kjell Sletsjøe as Deputy Chair to the Board.

Consequently, the Board of Directors consists ofthe following persons:

C ha ir	pi A G M 20 22 te rm ex re s
D C ha ir ut ep y	pi A G M 20 22 te rm ex re s
B rd b oa m em er	pi A G M 20 2 1 te rm ex re s
rd b B oa m em er	pi G 20 2 1 A M te rm ex re s
B rd b oa m em er	pi A G M 20 2 1 te rm ex re s

9. Election of members to the Nomination Committee

The general meeting resolved that Ole G. Klevan shall serve for ^a one year period as leader, and that Brita Eilertsen and Torger Lien shall serve for ^a two year period as members, ofthe Nomination Committee.

Consequently, the Nomination Committee consists ofthe following persons:

O le G. le K va n	de L ea r	pi A G 20 2 1 M te rm ex re s
B ri E il ta ts er en	M be em r	pi A G M 20 22 te rm ex re s
T L ie or ge r n	be M em r	pi A G M 20 22 te rm ex re s

10. The Board of Director's deciaration of remuneration policy for the executive management

The general meeting passed the following resolution:

"The general meeting noted the Board ofDirectors' deciaration ofremuneration for the executive managementfor 2020."

11. Option program -authorization to the Board of Directors to issue shares

The general meeting passed the following resolution:

"The Board ofDirectors ofNordic Mining ASA (the" Company") is authorized to increase

the share capital ofthe Company by up to NOK 2,700,000 by one or more share issues.

The authorization may be used in connection with the issuing ofshares infavor of employees in the Company and/orsubsidiaries ofthe Company and qualified resource persons. The shares may be issued to the person directly or to ^a company owned by the person. The Board ofDirectors may also issue shares infavor ofpersons or companies that are not shareholders in the Company.

The subscription price for each share subscribed by the option holder shall be equal to the 3-day volume weighted average share price ofNordic Mining ASA prior to the award date plus 5 per cent.

The existing shareholders'preferential right to subscribe for shares is deviatedfrom.

The Board ofDirectors isgranted the authority to amend article 4 oftheArticles of Association with regard to the size ofthe share capital in compliance with any capital increase determined by the Board ofDirectors pursuan^t to this authorization.

This authorization to the Board ofDirectors shall be valid until 14 May 2022.

This authorization replaces the authorization resolved 1 November2018 (ref item 7 ofthe minutesfrom the said general meeting) and shall apply in addition to the authorization resolved in section 12 below."

12. Authorization to the Board of Directors to issue shares

The general meeting passed the following resolution:

"The Board ofDirectors ofNordic Mining ASA (the "Company") is authorized to increase the share capital ofthe Company by up to NOK 23,600,000, by one or more share issues, equal to approximately 20 per cent ofthe total issued shares at the date ofthis summons.

The authorization may be usedfor thefollowing purposes:

• (1) Placements and issuance ofshares infavor ofsuitable investors in order to raise additional capital to the Company.
• (2) As consideration, in whole or in part, in connection with investment in other busin esses.

The existing shareholders'preferential right to subscribe for shares may be deviatedfrom.

Payment ofshare capital in connection with share capital increase under this authorization may be made with other assets than cash as described in section 10-2 ofthe Norwegian Public Limited Liability Companies Act.

Ifthe Board ofDirectors resolves ^a cash issue pursuan^t to this authorization, with the consequence that the interests ofthe existing shareholders in the Company necessitates ^a subsequent offering, the Board ofDirectors shall resolve — or should this authorization not be sufficient, within reasonable time callfor ^a general meeting with proposalfor — ^a share capital increase where the Company's shareholders shall be offered to subscribeforshares on the same conditions (repair issue).

The Board ofDirectors isgranted the authority to amendArticle 4 oftheArticles of Association with regard to the size ofthe share capital in accordance with capital increase(s) determined by the Board ofDirectors pursuan^t to this authorization.

Tliis autliorization sliall be valid ti/I 3OJune 2021.

This authorization replaces the remaining par^t ofthe authorization issued 13 September 2019."

The resolutions were passed according to the voting results set out in enclosure 2. No further items were on the agenda. The general meeting was adjourned.

Oslo 14 May 2020

Kjell Roland Lars K. Grøndahi

14.52020 VPS Foretak

Total Represented

IS IN :	N 00 01 03 17 34 0 NO RD IC M IN IN G AS A
al tin da G te en er m ee g :	14 /0 5/ 20 20 15 .30
To da y:	14 .0 5. 20 20

Number of persons with voting rights represented/attended: 4

	be of sh N um r ar es	% sc
l sh To ta ar es	19 7, 49 1,7 72
sh of th ow n ar es e co m pa ny -	0
To tal sh wi th tin rig ht ar es vo g s	19 49 1,7 72 7,
R ed by sh nt ow n ar es ep re se	3, 04 6, 30 6	% 1.5 4
ad R ed by te nt va nc e vo ep re se	54 5 2, 9, 96	1.2 9 %
Su sh m ow n ar es	5, 59 6, 27 1	% 2. 83
ed by R nt ep re se pr ox y	4, 31 1, 03 6	2. 18 °h
R ed by tin in tio nt str ep re se vo g uc n	9, 50 5, 29 6	% 4. 81
sh Su m pr ox y ar es	13 ,8 16 ,3 32	% 7. 00
l d ith tin ri gh To ta te ts re pr es en w vo g	19 ,4 12 03 ,6	% 9. 83
l d by sh pi l To ta te ta ar e ca re pr es en	19 ,4 12 ,6 03	% 83 9.

R is fo th tr co m pa ny : eg ar r e	Si at gn ur e co m pa ny :
DN B B k AS A an	N OR DI C AS A M IN IN G

VPS Foretak

Protocol for general meeting NORDIC MINING ASA ISIN: ______________________________

ISIN:	NO0010317340 NORDIC MINING ASA
General meeting date: 14/05/2020 15.30
Today:	14.05.2020
Shares class	FOR	Against	Poll in	Abstain		Poll not registered Represented shares with voting rights
Agenda item 1 Opening of the meeting by the Chair of the Board or a person authorized by him, and registration
of attending shareholders and shares repres
Ordinær	19,393,246	0	19,393,246	19,357	0	19,412,603
votes cast in %	100.00 %	0.00%		0.00%
representation of sc in %	99.90 %	0.00 %	99.90 %	$0.10 \%$	0.00 %
total sc in %	9.82%	0.00%	9.82%	0.01%	0.00%
Total	19,393,246		0 19,393,246	19,357	o	19,412,603
Agenda item 2 Election of Chairman of the meeting and one person to co-sign the minutes together with the Chair
Ordinær	19,393,246	0	19,393,246	19,357	0	19,412,603
votes cast in %	100.00 %	0.00%		0.00 %
representation of sc in %	99.90 %	0.00 %	99.90 %	0.10%	$0.00 \%$
total sc in %	9.82%	0.00%	9.82%	0.01%	0.00 %
Total	19,393,246		0 19,393,246	19,357	0	19,412,603
Agenda item 3 Approval of the summons and the agenda
Ordinær	19,393,246	0	19,393,246	19,357	0	19,412,603
votes cast in %	100.00 %	0.00%		0.00%
reoresentation of sc in %	99.90 %	0.00 %	99.90 %	$0.10 \%$	0.00 %
total sc in %	9.82%	$0.00 \%$	9.82%	0.01%	0.00%
Total	19,393,246		0 19,393,246	19,357	0	19,412,603
Agenda item 4 Approval of the financial statements and the annual report, including the report on corporate
governance
Ordinær	19,393,246	0	19,393,246	19,357	0	19,412,603
votes cast in %	100.00 %	$0.00 \%$		$0.00 \%$
representation of sc in %	99.90 %	0.00 %	99.90 %	$0.10 \%$	$0.00 \%$
total sc in %	9.82%	0.00%	9.82%	0.01%	0.00%
Total	19,393,246		0 19,393,246	19,357	0	19,412,603
Agenda item 5 Determination of remuneration to the Board of Directors
Ordinær	17,356,596	2,020,000	19,376,596	36,007	o	19,412,603
votes cast in %	89.58 %	10.43 %		$0.00 \%$
representation of sc in %	89.41 %	10.41 %	99.82 %	0.19%	0.00 %
total sc in %	8.79 %	1.02%	9.81%	0.02 %	0.00%
Total			17,356,596 2,020,000 19,376,596	36,007	$\bullet$	19,412,603
Agenda item 6 Determination of remuneration to the Nomination Committee					0
Ordinær votes cast in %			19,173,063 203,533 19,376,596	36,007		19,412,603
representation of sc in %	98.95 %	1.05% 1.05 %	99.82 %	0.00 % 0.19%	$0.00 \%$
total sc in %	98.77 % 9.71%	$0.10 \%$	9.81 %	0.02%	0.00 %
Total	19,173,063		203,533 19,376,596	36,007	o	19,412,603
Agenda item 7 Determination of remuneration to the company's auditor
Ordinær	19,395,953	0	19,395,953	16,650	0	19,412,603
votes cast in %	100.00 %	$0.00 \%$		0.00 %
representation of sc in %	99.91 %	0.00%	99.91 %	0.09%	0.00%
total sc in %	9.82%	$0.00 \%$	9.82 %	0.01%	0.00 %
Total	19,395,953		0 19,395,953	16,650	0	19,412,603
Agenda item 8.1 Election of Board of Directors - Kjell Roland, chair
Ordinær	19,412,603	0	19,412,603	0	0	19,412,603
votes cast in %	100.00 %	0.00 %		$0.00 \%$
representation of sc in %	100.00 %	0.00 %	100.00 %	$0.00 \%$	0.00 %
total sc in %	9.83%	0.00 %	9.83%	0.00 %	$0.00 \%$
Total	19,412,603		0 19,412,603	0	0	19,412,603
Agenda item 8.2 Election of Board of Directors - Kjell Sletsjøe, deputy chair
Ordinær	19,412,603	0	19,412,603	0	0	19,412,603
votes cast in %	100.00 %	0.00 %		$0.00 \%$
representation of sc in %	100.00 %	0.00 %	100.00 %	0.00 %	0.00 %
total sc in %	9.83%	0.00 %	9.83%	$0.00 \%$	0.00 %

Agenda item 9.1 Election of members to the Nomination Committee -Ole G. Klevan, leader

Sh da ar es ns	FO R	Ag ain st	Po ll in	Ab in sta	Po ll ist ed t r no eg er	ted Re sh pr es en ar es wi th tin rig ht vo g s
Or din ær	19 ,21 4,0 70	19 8,5 33	19 ,41 2,6 03	0	0	19 ,41 2,6 03
n / t i o tns vo ran	98 98 %	1.0 2 %		% 0,0 0
ion % of in tat rep ren en nr	98 .98 /o	1.0 2 0/,,	100 .00 /o	0.0 0 /,,	0.0 0 /0
al in tot % nc	3 9 7 0/,,	% 0.1 0	9.8 3 0/	0.0 00 /,,	0.0 00 /,,
tal To	19 ,2 14 ,07 0	19 8,5 33	19 ,4 12 ,60 3	0	0	19 ,4 12 ,60 3
Ag da ite 9.2 El tio en m ec	of be n m em	th No to rs e	mi tio Co na n	itt - B mm ee	rit Ei ler be tse a n, m em	r
Or din ær	19 ,21 4,0 70	19 8,5 33	19 ,41 2,6 03	0	0	19 ,41 2,6 03
n % t i tes vo ran	% 98 .98	1.0 2 0/,,		0.0 0 °k
ion of in tat rep ren en 0/0 nr	98 .98 0/,,	1.0 2 0/,,	10 0.0 0 0/0	00 0 0/	0.0 0
al in tot 0/0 nc	9.7 3 %	0.1 0 %	9.8 3 0/,,	% 0.0 0	% 0.0 0
tal To	19 ,2 14 ,07 0	19 8,5 33	19 ,4 12 ,60 3	0	0	19 ,4 12 ,60 3
da Ag ite 9.3 El tio en m ec	of be n m em	th No to rs e	mi tio Co na n m	itt -T m ee or	r h be ge en , m em r
Or din ær	19 ,41 2,6 03	0	19 ,41 2,6 03	0	0	19 ,41 2,6 03
n % t i ten vo ran	100 00 0/0	% 0.0 0		% 0.0 0
ion of in 0/,, tat rnp rnn nn nc	% 10 00 0	0.0 0 0/,,	100 .00 0/,,	0.0 0 0/0	% 0.0 0
al in tot °k nc	9.8 3 %	0.0 0 %	9.8 3 %	% 0.0 0	0.0 0 %
To tal	19 ,4 12 ,60 3	0	19 ,4 12 ,60 3	0	0	19 ,4 12 ,60 3
Ag da ite 10 Th Bo en m e	ard of Di tor rec	's de cla ra	tio of n re m un	ati er on po	lic for th iv ut y e ex ec e	t m an ag em en
Or din ær	16 ,44 3,2 46	2,0 20 ,00 0	18 ,46 3,2 46	94 9,3 57	0	19 ,41 2,6 03
% t i ten vo ran n	0/,, 89 .06	10 .94 0/0		0.0 0 %
ion of in tat 0/,, rep rn sen nr	84 .70 %	10 .41 0/,,	95 .11 0/,,	% 48 9	0.0 00 /,,
% al in tot nr	8.3 3 /a	1.0 2 0/,,	9,3 5 %	0.4 8 %	0.0 0 0/0
tal To	16 ,44 3,2 46	2,0 20 ,00 0	18 ,46 3,2 46	94 9,3 57	0	19 ,4 12 ,60 3
Ag da ite 11 Op tio en n m	ut pr og ra m - a	ho riz ati on	th Bo ard to e	of Oi cto re rs	iss sh to ue ar es
Or din ær	16 ,23 1,2 19	2,2 90 ,52 8	18 ,48 1,7 47	93 0,8 56	0	19 ,41 2,6 03
tns in st °/o vo ra	87 .82 0/0	12 .18 0/		0.0 00 /,,
ion of in tat % rep ren nn nc	63 .51 0/0	% 11 .59	99 .21 0/0	4.8 0 °/0	0.0 0 o/o
al in tot 0/,, nr	6 2 2 °/o	1.1 40 /,,	9.3 60 /,,	0.4 7 0/	0.0 00 /,,
To tal	16 ,23 1,2 19	2,2 50 ,52 8	18 ,48 1,7 47	93 0, 85 6	0	19 ,4 12 ,60 3
Ag da ite th 12 Au en m or	iza tio th to n e	Bo ard of Oi	iss cto to re rs	sh ue ar es
Or din ær	19 ,37 4,6 22	35 ,72 5	19 ,41 0,3 47	2,2 56	0	19 ,41 2,6 03
t i ten n % vo ran	99 .82 %	0.1 8 %		0.0 0 0/
ion of in tat °/ rep ren en nr	99 .80 0/	0.1 8 0/,,	99 99 0/,,	0.0 1 0/,,	0.0 0%
al in tot °/o nr	9 St 0/,,	0.0 2 0/,,	9.6 3 0/,,	0.0 0 0/,,	% 0.0 0
To tal	19 ,37 4,6 22	35 ,72 5	19 ,4 10 ,34 7	2,2 56	0	19 ,4 12 ,60 3

14.5.2020 VPS Foretak

Rngintrar for thn company: Signaturn company: DNB Bank ASA NORDIC MINING ASA

Share information

Na me	tal To mb of sh nu er ar es	No mi l v alu na e	Sh pit al are ca	rig ht Vo tin g s
Or din ær	19 7,4 91 ,77 2	0.6 0	11 8,4 95 ,06 3.2 0	'inn
S um :

§ 5-17 Generally majority requirement reqniren majority of thn given voten

§ 5-18 Amendment to resolution

Requiren tnvo-thirdn majority of tinn given voten like the innued nhare capital reprenented/attended on tinn genera^l meeting