Nordic Mining ASA - Capital/Financing Update 2026

Nordic Mining ASA: Cancellation of the Subsequent Offering

Reference is made to the stock exchange announcement published by Nordic Mining

ASA ("Nordic Mining" or the "Company") on 16 January 2026 regarding a

successfully placed private placement of new shares in the Company raising

approximately NOK 200 million in gross proceeds by issuing 16,666,666 new

shares, each at a subscription price of NOK 12.00 per share (the "Subscription

Price") (the "Private Placement") and a contemplated subsequent offering of up

to 10,833,333 new shares in the Company at the Subscription Price in the Private

Placement, raising gross proceeds of up to approximately NOK 130 million (the

"Subsequent Offering").

The Company's shares have for an extended period traded below the Subscription

Price and this is also currently the case. Since the placing of the Private

Placement, the total traded volume at prices at or below the Subscription Price

is higher than the maximum size of the potential Subsequent Offering.

Accordingly, existing shareholders who did not participate in the Private

Placement have had the opportunity to reduce the dilutive effects of the Private

Placement at trading prices at or below the Subscription Price.

The Board of Directors of Nordic Mining has therefore decided not to proceed

with the Subsequent Offering.

For further information, please contact:

Tord Meling, CFO

Tel: +47 99 09 87 66

or visit: www.nordicmining.com

About Nordic Mining

Nordic Mining ASA is a resource company with focus on critical minerals. The

Company is undertaking a large-scale industrial development at Engebø on the

west coast of Norway through its wholly owned subsidiary, Engebø Rutile and

Garnet AS, which has mining rights and permits to a substantial eclogite deposit

with rutile and garnet. In addition, the Group holds a landowner agreement for

exploration and development of a high purity quartz deposit in the Kvinnherad

Municipality in Norway and is currently conducting a test work program where

bulk samples from the deposit will be used for pilot scale processing of high

purity quartz product through a full cycle process. Nordic Mining's project

portfolio is of high international standards and holds significant economic

potential. The assets, and in particular the wholly owned Engebø Project,

provide a solid value basis for Nordic Mining's shareholders. Nordic Mining is

listed on the Oslo Stock Exchange.

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