ENGEBØ RUTILE AND GARNET AS: SUCCESSFULLY COMPLETED TAP ISSUE

15 Oct 2025 11:00 CEST

Reference is made to notices 25 September 2025 and 8 October 2025 regarding
contemplated USD 22.5 million tap issue.

Engebø Rutile and Garnet AS has today successfully completed the tap issue to
the Engebø Rutile and Garnet AS 12.5% Senior Secured Bonds 2022/2027 with ISIN
NO0012734112 priced at 98.00% of par. The total outstanding amount under the
Bonds following the tap issue is USD 155.5 million.

Clarksons Securities acted as Bookrunner for the tap issue.

Oslo, 15 October, 2025
Engebø Rutile and Garnet AS

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