Engebø Rutile and Garnet AS: Engebø Rutile and Garnet wins court case against environmental NGOs

10 Nov 2025 17:10 CET

Reference is made to the NGOs Friends of the Earth Norway and Nature and Youth's
filing for injunction against Engebø Rutile and Garnet AS ("ERG" or "Company")
claiming that the Company shall halt its mining operations.

The district court has as expected today ruled in favor of ERG concluding that
the conditions for an injunction is not met.

The operations at the mine continues as planned.

"We made the case that the environmental impact of the sea deposit is low. This
conclusion is based on numerous independent reports and surveys. We are pleased
that the court followed the science and not the NGOs' principled rejection of
sea deposits.”

We are also pleased that the Norwegian government shows its unwavering support
for the Engebø Rutile and Garnet project recognising the geopolitical importance
of the project for Norway and Europe," says chair of the Company's board Finn
Ivar Marum.

Oslo, 10 November 2025

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Abuse Regulation and is subject to the disclosure requirements pursuant to
Section 5-12 the Norwegian Securities Trading Act.

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