Green Minerals announces initiation of a strategic review

11 Dec 2025 06:57 CET

11.12.2025 06:57:00 CET | Green Minerals AS | Inside information

Green Minerals AS ("GEM" or the "Company") expresses deep concern that the
Norwegian government has so far failed to implement the opening of the
continental shelf for seabed minerals, despite the overwhelming majority
decision taken by the Storting in 2024.

Norway, a NATO member, possesses some of the world's most attractive deepsea
mineral resources and has advanced plans for environmentally responsible and
profitable extraction. These resources hold tremendous potential for building a
largescale mining industry in Norway, creating significant national and local
value, and generating numerous workplaces. It is therefore both disappointing
and alarming that the government once again allows minority parties to block a
clear majority decision.

The failure to initiate the first Norwegian deep-sea licensing round in 2026
increases political risk, creates significant uncertainty for the marine
minerals industry, and undermines the willingness to invest in new industrial
activities in Norway.

Consequently, GEM will redirect its focus toward other regions of the world to
realize its vision: delivering high quality minerals with a significantly lower
environmental footprint and superior profitability. In doing so, GEM aims to
contribute to solving some of the greatest challenges of our time: securing
access to critical minerals essential for the green energy transition and NATO's
defense capabilities.

As previously announced, GEM has already taken steps to diversify its portfolio.
The Company has signed a Memorandum of Understanding (MoU) in the Clarion
Clipperton Zone ("CCZ") in the Pacific Ocean, one of the world's most
prospective areas for polymetallic nodules. Work completed on the license to
date indicates a significant global resource, with more than 200 million tonnes
of measured, indicated, and inferred wet nodules across the license area. Some
environmental baseline work remains; thereafter, the license will be ready for
harvesting once the ISA mining code is finalized. This agreement provides GEM
with a strategic foothold in one of the most promising deepsea mineral provinces
globally, positioning the Company to advance environmentally sound and
economically viable projects outside Norway. GEM now aims to accelerate the
transfer of rights under the agreement and is actively investigating other
opportunities worldwide as deepsea mining gains traction.

To this end, the Board of Directors has resolved to initiate a strategic review
aimed at maximizing shareholder value. As part of this process, GEM will engage
in discussions with other mining companies as well as adjacent industries and
has retained the law firm Schjødt to assist. There can be no assurance that
these discussions will result in the desired outcomes. The Company will provide
updates on the progress of this review as appropriate.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements in article 19 of the
Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading
Act.

CONTACTS

* Investor Relations, Green Minerals AS, ir@greenminerals.no
* Øivind Dahl-Stamnes, CEO, Green Minerals AS, +47 952 11 986,
oivind.dahlstamnes@greenminerals.no

ABOUT GREEN MINERALS AS

Green Minerals AS mission is to deliver minerals for the green energy transition
in a responsible and sustainable manner through deep sea mining of key minerals
and rare earth elements (REE). This significantly reduces the social and
environmental costs found in terrestrial mining while at the same time solving a
strategic need for EU and the USA. For more, visit www.greenminerals.no -
http://www.greenminerals.no

ATTACHMENTS

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https://kommunikasjon.ntb.no/ir-files/17848272/18746776/6622/Download%20announce
ment%20as%20PDF.pdf

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