Engebø Rutile and Garnet AS - Summons to written resolution – Proposed adjustment to covenant under the senior secured bonds, supported by more than 2/3 of the bondholders

21 Jan 2026 18:35 CET

Oslo, 21 January 2026: Engebø Rutile and Garnet AS (the “Company”), a
wholly-owned subsidiary of
Nordic Mining ASA (“NOM”), has today instructed Nordic Trustee AS to summon a
written resolution
for the Company’s 12.5 % Senior Secured USD Bonds 2022/2027 with ISIN
NO0012734112.
The purpose of the written resolution is to consider a proposal for an amendment
to the minimum
liquidity covenant by lowering the cash amount the Company is required to
maintain in a restricted
manner (the “Proposal”). The Proposal will facilitate flexibility in the group’s
liquidity management.
The Company has received the conditional support of more than 2/3 of the
bondholders. A condition
for the Proposal is that tranche 2 of the private placement previously announced
by NOM on its ticker
on www.newsweb.no (the “Private Placement”) is successfully completed, including
that the
extraordinary general meeting in NOM to be held on 9 February 2026 approves the
capital increase
pertaining to tranche 2 of the Private Placement. Investors who subscribed for
shares in the Private
Placement have provided irrevocable voting undertakings to vote in favour of
such capital increase.

The written resolution, including details of the Proposal, is attached to this
announcement.

The Company has retained Clarksons Securities AS as financial advisor with
respect to the Proposal.
For further information, please contact:

Finn Ivar Marum, CEO of NOM, chair of the board of directors of the Company
Tel: +47 982 06 339
finn.ivar.marum@nordicmining.com

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian
Securities Trading Act.
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664017_Written resolution ERG.pdf