Nordic Mining ASA: Update on financial situation

Oslo, 15 October 2026

Reference is made to the previous stock exchange announcements regarding Nordic Mining ASA (the "Company") and Engebø Rutile and Garnet AS' ("ERG") financial situation, including the announcement on 10 September 2026 regarding the summons for a bondholder meeting, the announcement on 22 September 2026 regarding the need for a comprehensive financial restructuring, and the announcement by the Company on 13 October 2026 regarding the minutes from the extraordinary general meeting passing resolutions that could facilitate solutions for the Company's liquidity needs.

With reference to the announcement on 10 September 2026, ERG, as issuer under its 12.5% Senior Secured Bonds (ISIN: NO0012734112), obtained an extension to today, 15 October 2026, of (i) the temporary suspension of the minimum liquidity covenant, (ii) the waiver expiry date applicable to the minimum book equity ratio covenant, and (iii) the deferral of the cash interest payment under the bond terms. Although the Company and ERG have not obtained new waivers or extensions, the Company and ERG continue to negotiate with their creditors in good faith with a view to resolving their financial situation.

Further information regarding the Company's and ERG's financial situation will be provided when available.

For further information, please contact:

Tord Meling, CFO

Tel: +47 99 09 87 66

tord.meling@nordicmining.com

or visit: https://nordicmining.com/

This information is considered to include inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Tord Meling, on 15 October 2026, at 18:40 (CEST).