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IMMENSE RESOURCE GROWTH AND EXPLORATION POTENTIAL AT HENNES BAY ‘Starter’ Resource totaling 447,000T of Copper and 37Moz of Silver is considered just the beginning STO: ARCT FEBRUARY 2026
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The information comprised in this document (the “Presentation”) has been prepared by the Board of Directors of Arctic Minerals AB (publ) (“Arctic Minerals” or the “Company”) solely for the purpose of providing information regarding the offer of securities in the Company (the “Offer”). The Presentation is strictly confidential and may not be disclosed to any third party or referred to publicly without the prior written consent of the Company. The figures included in this Presentation have, in certain cases, been rounded off and, consequently, the tables contained in this material do not necessarily add up. The Offer of securities is intended for specific investors. The Offer is not directed to any person whose participation would require additional information, prospectuses, registrations or measures other than those prescribed by Swedish law. The Offer is not being made to any individuals residing in the United States of America, Australia, Canada, New Zealand, Hong Kong, Japan, Singapore, Switzerland or South Africa or any other jurisdiction that require additional information, prospectuses, registrations or measures other than those prescribed by Swedish law. The Offer has not been and will not be registered under the U.S. Securities Act of 1933 as amended (the “Securities Act”), or under any U.S. state securities law. Persons into whose possession this Presentation reaches, are required by the Company to inform themselves of and to observe, such restrictions. The Company does not accept legal responsibility for any violation by any person, whether or not a prospective investor, of any such restrictions. The Presentation contains certain forward-looking statements. Such forward-looking statements reflect the current views and opinions of the Board of Directors of the Company or are assumptions based on third party information available to the Company. Such forward-looking statements are subject to certain known and unknown risks, uncertainties associated with the Company’s growth, management, relations with clients and suppliers and other factors referenced in this Presentation. Although the Company believes that these assumptions where reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors, which are difficult or impossible to predict and are beyond the Company’s control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this Presentation by such forward-looking statements. The information, opinions and forward-looking statements contained in this Presentation speak only as at its date and are subject to change without notice. The Board of Directors confirms that statements, estimates and projections set out herein with respect to the anticipated future results, performance or achievements of the Company reflect various assumptions, which may or may not prove to be correct. There can be no assurance that such views are accurate, or that such estimates and projections will be realised. No representations, warranties or other assurances can, therefore, be made as to the accuracy of such statements, estimates or projections. In making an investment decision, each investor must rely on their own examination, analysis and enquiry of the Company and the terms of the Offer, including the merits and risks involved and accept the risks associated with the fact that only certain limited and high-level due diligences have been carried out. The Company has not authorised anyone to provide any information or give any statements other than those provided in the Presentation. Delivery of the Presentation shall not, under any circumstances indicate that the information presented in the Presentation is correct on any day other than the date of the Presentation, or that there would not be any changes in the business of the Company after the date of the Presentation. While this Presentation has been prepared in good faith, no representation or warranty, express or implied, is made and no responsibility is or will be accepted by the Company or by its officers or employees as to the accuracy or completeness of the information in the Presentation. The Company shall not have any liability whatsoever arising directly or indirectly from the use of this Presentation and to the extent an investment is made. IMPORTANT INFORMATION STO: ARCT
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EXECUTIVE SUMMARY PETER WALKER Non-Executive Director Over 40 years of international experience in the resources sector, Founder and CEO of Scandinavian Minerals KRISTER SÖDERHOLM Advisor Geologist with more than 40 years of experience in mining and exploration in the Nordic region and internationally Board & Management Advisory Comittee ROBERT BEHETS Non-Executive Chairman Over 35 years of international experience in the resources sector, instrumental in the growth of Mantra Resources and Papillon Resources PETER GEORGE Managing Director & CEO 30 years of experience in the resources sector including technical and managerial roles in Boliden and MD/Executive Director of Alicanto Minerals LARS-ERIC AARO Advisor Over 35 years in the mining industry with executive roles at major companies like LKAB and Boliden, and an industry advisor in sustainable mining strategies DUNCAN LARGE Advisor Geologist with more than 40 years of experience in mining and exploration globally. Former exploration Manager Eurasian Minerals STO: ARCT JONAS LINDHOLM Advisor Business Facilitator with over 20 years of experience in creating new. Former Swedish Trade Commissioner responsible for Australian and NZ RISTO PIETILÄ Advisor Exploration geophysicist with +30 years of experience in Finland and internationally. Discovery track record, incl Silver Swan (Australia), Telkkälä (Finland) Exceptional Project Portfolio Balanced portfolio with exceptional mineral potential. Two advanced stage projects including 55.4Mt copper-silver resource in Sweden & 3.3Mt copper-gold resource in Norway. Additional copper-gold & copper-PGE exploration projects in the Nordics First Class Team Experienced Board, Management & Advisory Committee with demonstrated track record of creating shareholder value within the mining sector. Exploration & mining expertise in the Nordics Strong Commodities Outlook Global push towards clean energy, coupled with protectionist moves by countries looking to secure vital materials, is driving an unprecedented surge in copper demand. Nordic’s & Europe are leading the way in the Green Transition, focusing efforts on internal supply of critical metals Immediate Opportunities to Increase Market Value Significant potential for resource growth & new discoveries to increase market value 25 yrs’ experience in the international financial sector. Previously global head of risk management for UBS Wealth in Switzerland and senior roles with Credit Suisse and EY advising Scandinavian high net worth individuals and investment funds. Pierre Olsson Advisor Right Projects, People, Commodities, & Time JOAKIM LIDFELD Non-Executive Director Investment Banker previously served as Managing Director at Sanford Bernstein for 20 years and has also held senior positions at Banks in the Nordic Region ERIK LUNDSTAM Deputy CEO and Chief Geologist 30 years of experience in various geological settings, with significant discoveries in Sweden with many years of experience across Boliden and Alicanto Minerals JOHAN SPETZ Incoming CFO Currently outgoing CFO of Sedana Medical. Previously Johan was partner and Head of Equity Research at investment bank Pareto Securities. Previously, Johan worked at Goldman Sachs in New York.
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A FORCE IN NORDIC EXPLORATION & DEVELOPMENT Balanced portfolio with exceptional mineral potential Existing resources & drill- ready targets Scale & grade potential. Robust pipeline Demonstrated track-record of creating shareholder value Advantageous market conditions & political landscape Hennes Bay (Cu, Ag), Sweden: Exciting new copper district, with associated critical metals. Maiden JORC Compliant Inferred Resource - March 2025. <5% of prospective contact drill tested Bidjovagge (Cu, Au), Norway: Indicated Mineral Resource. Bonanza grades of gold & copper. High-grade cobalt & tellurium. Multiple drill-ready targets. Swan Lake (Cu, Au), Sweden: Drill-ready with identified targets for epithermal gold-silver & porphyry copper-gold deposits. Kuusi (Cu-Au-PGE), Finland: Strong coincident geophysical / geochemical anomaly. Drill-ready target. Highly Experienced Board Successful multi-disciplinary team with significant experience in the Nordics. Demonstrated track record of creating shareholder value within the mining sector e.g. Scandinavian Minerals, Mantra Resources, Papillon Resources. Recent additions to Board, Executive Management & Advisory Committee bring substantial international experience in geology, mining, corporate & finance. New Supercycle emerging in the copper, precious metals and critical metals markets, built on several rising geopolitical and market trends. Global push towards clean electrical energy, coupled with protectionist moves by countries looking to secure vital materials, is driving an unprecedented surge in copper demand. Nordic’s & Europe leading the way in the Green Transition. Nordic exploration and mining projects are in an increasingly supportive environment. EU Critical Raw Materials Act (CRMA) established a framework to ensure a secure & sustainable supply of critical raw materials. Large Scale Deposit Types Sediment-hosted copper at Hennes Bay. Porphyry copper-gold at Swan Lake. Bonanza Grades Bonanza grades of gold and high grades of copper in relatively shallow exploration drill holes at Bidjovagge. Greenfield Exploration Earlier stage exploration targets at Swan Lake & Kuusi provide robust pipeline and promise exciting new opportunities. STO: ARCT
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Massive supply problems will result in immense price pressure PEAK COPPER – THE MACRO LANDSCAPE Older mines are in decline • Older mine grades have drastically fallen, and many existing large mines are nearing closure • Copper mine grades have decreased by 50% over the last 30 years • 0.7 Bt of copper has been mined in human history Supply must increase • 1.4 Bt of copper is needed to reach net zero by 2050 • To meet an increasing supply gap, global mine output must increase by 16.7 Mt per annum over the next three decades – starting today! New Supply Needed • Sheer scale of supply expansion required is daunting. The world either needs: 36 new large-scale copper mines; 759 small copper mines; or a five-fold increase in output from the world’s top 10 producing mines Its not just the Green Industrial Revolution • Traditional markets such as transport, construction, the electrical grid, and electronics are the main drivers • Green Revolution (wind, batteries & solar) just makes it even tougher to meet demand STO: ARCT 1. Source: https://energyminute.ca/infographics/the-volume-of-2050-net-zero-copper-demand/ 2. Source: modified from ‘The Future of Copper”, S&P Global Report, July 2022 3. Source: https://www.energyandcapital.com/copper-investing-2016/ 4. Source: https//sprottetfs.com/
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Majority is supplied from the world’s “Southern States” such as Chile, Peru & Brazil – 12,000km away 50% OF EU COPPER CONCENTRATE SOURCED OUTSIDE OF EU Environmentally Unfriendly Supply South American suppliers Chile, Peru & Brazil (33%) ship copper concentrate up to 12,000km to the EU 70% Waste Concentrates are on average only 30% copper metal content Security of Supply Geopolitical forces are dominating world supply. Only way to secure supply is to mine it domestically 50 Years of Underinvestment EU countries underinvested in exploration and mining and have allowed 3rd world countries to do the heavy lifting, often with sub-standard environmental and safety standards Jobs Gone Elsewhere High paying mining jobs and critical expertise has disappeared from the EU STO: ARCT
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Being driven by a fifth consecutive year of structural supply deficits and accelerating demand SILVER MARKET – SIGNIFICANT BULLISH MOMENTUM INTO 2026 Silver Price Hitting All-Time Highs Silver price has surged, with spot prices hitting all-time highs above US$118/oz in January 2026, with many analysts forecasting further gains this year. Key Insights Soaring Price: Silver was the best-performing major asset in 2025, with a gain of 147%. Structural Deficit: Demand for silver is consistently outstripping supply, leading to the draining of above-ground inventories and creating a tight physical market. Industrial Demand: Over half of global silver demand comes from industrial applications, with an explosive need from the solar energy sector, electric vehicles (EVs), AI data centers, and advanced electronics, where silver is difficult to substitute. Investment & Macro Factors: Investor demand has surged, with significant inflows into silver ETFs. The market is also supported by expectations of US interest-rate cuts, a softer US dollar, and geopolitical uncertainties, which increase the metal's appeal as a safe-haven asset. STO: ARCT
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Hennes Bay (Flagship Project) PEDIGREE COMPARISONS: Located in a largely unexplored part of the Grenville Orogeny, the same system that gave rise to world class sediment-hosted copper deposits: Kamoa-Kakula & Tenke-Fungurumi (Congo), Leginca-Glacow Copper Belt (Poland) & Udokan (Russia) POISED FOR GROWTH: Granted exploration permits covering 402km² JORC Compliant Mineral Resource Estimate (MRE) of 55.4Mt @ 1.0% CuEq (0.8% Cu & 20.8 g/t Ag) No modern exploration for over 40 years <5% of prospective contact drill tested Recent geophysical work has highlighted target area 10x the footprint of existing MRE Significant potential for significant resource growth & new discoveries RECENT SUCCESS: Recent tests confirmed earlier findings, showing similar grades of Cu & Ag, with the added benefits of other critical metals (gallium, germanium, vanadium and REE) EXCELLENT INFRASTRUCTURE: Existing railways, highways, 400kVA powerlines and access to fresh water – the project is ideally located PEDIGREE COMPARISONS: Geological parallels between Bidjovagge & the Kalgoorlie “Golden Mile” area RESOURCE ESTIMATE: Past producing copper-gold mine Resource of 3.3Mt @ 0.97% Cu & 1.27 g/t Au (Indicated category) Potential for high-grade cobalt & tellurium has also been identified. Only recently discovered and not included in the resource estimate HIGH-GRADE INTERSECTIONS: 18.0m @ 2.21% Cu & 33.8g/t Au 27.3m @ 3.11% Cu & 0.58 g/t Au 15.0m @ 2.0% Cu & 8.55g/t Au DRILL-READY TARGETS: Significant resource growth potential Bonanza grades of gold & high grades of copper in relatively shallow exploration drill holes Recent analysis of geophysical data indicates continuation of the ore zone in several directions Multiple drill-ready targets Bidjovagge Project PROJECT PORTFOLIO IN BRIEF – ADVANCED PROJECTS Geared towards rapid resource growth & project advancement STO: ARCT
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PROJECT PORTFOLIO IN BRIEF – GREENFIELDS PROJECTS DRILL READY TARGET: Kussi is a drill-ready copper-gold-PGE target analogous to the Kilvenjarvi deposit on the same geological basement structure Granted exploration permit covering 3km² STRONG COINCIDENT ANOMALY: Strong geophysical anomaly coincident with geochemical anomaly Till geochemical anomaly: Cu up to 153 ppm compared to background level of 79 ppm Initial drilling program designed Kuusi Project NEW DISCOVERY IN WELL-ENDOWED AREA: Swan Lake is a new Cu-Ag-Au system located within an epithermal altered lithocap, with Au-Ag potential & porphyry Cu-Au potential Granted exploration permits over 218 km² Project sits along strike and between two of the largest Cu-Au projects in Europe RESOURCES ALONG STRIKE: Aitik mine - 2.2Bt @ 0.19% Cu, 0.12g/t Au & 1.0g/t Ag Laver project - 1.0Bt @ 0.21% Cu, 0.11g/t Au & 3.0g/t Ag DRILL-READY: Drill-ready with identified targets for epithermal Au-Ag & porphyry Cu-Au deposits MINERALISED SAMPLES: Rock chip samples with up to 0.7% Cu, 0.16g/t Au & 55g/t Ag Swan Lake Project Geared towards drilling success with right geology & near to producing mines STO: ARCT
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55MT “STARTER” RESOURCE FOR HENNES BAY • Mineral Resource Estimate (“MRE”) totals 55.39Mt at 1.0% CuEq (0.8% Cu & 20.8g/t Ag) from Dingelvik prospect • Total metal content of 447,000t of Cu and 37Moz of Ag • 100% of MRE classified in the Inferred category • MRE reported above a 0.8% CuEq cut-off • Prepared & reported in accordance with the JORC Code (2012) by an independent Competent Person Over 10km of open mineralisation with massive potential for growth STO: ARCT
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IMMENSE RESOURCE GROWTH AND EXPLORATION UPSIDE o MRE based solely on Dingelvik prospect, mineralisation remains open in all directions o MRE does not include several other prospects with extensive zones of mineralisation defined by historical drilling o MRE interpreted as distal part of a sediment-hosted stratiform copper mineral system (“SSC”) o SSC mineral systems favor the formation of very large deposits and mineral districts o Tenement package covers 402km2 <5% of the aerially extensive target horizon drill tested o Surface outcrops of the mineralised contact mapped up to 17 km from MRE Potential for substantial resource growth and new discoveries through further targeted drilling STO: ARCT Over 10km of open mineralisation with massive potential for growth at Hennes Bay
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NEW GEOPHYSICS TECHNIQUE A GAME CHANGER Combined area of new targets delineated by MMT is 10 times larger than footprint of existing 55Mt MRE at Dingelvik STO: ARCT ‘MMT’ - airborne magneto-telluric survey
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MULTI DECADE UNDERGROUND MINE POTENTIAL Underground Conceptual Mining Study at Hennes Bay Highlights o 4Mtpa decline capacity with option to expand further o Room and Pillar underground mine with tight dilution control similar to Kupferschiffer in Germany and Poland – but near surface o Multi-decade production potential o Massive potential upside with further resource growth & exploration success STO: ARCT
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MAJOR INFRASTRUCTURE IN PLACE STO: ARCT TRANSPORT • 2 x railway lines with access to deep ports on the West Coast • Well established road network, with access to major towns & cities • International & multiple domestic airports within close proximity POWER • 2 x 400kV electrical transmission lines on the Project with access to hydro, nuclear & wind power WATER • Multiple fresh water sources LABOUR • One hour from city of Gothenburg and even closer to other major towns Much of the necessary major infrastructure requirements are already in place at Hennes Bay STO: ARCT
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FORWARD WORK PLAN – HENNES BAY Stakeholder Engagement Environmental, Heritage & Cultural Investigations o Baseline studies covering Environment, Flora, Fauna & Heritage Resource Expansion o Drill testing of extensions of Dingelvik o Infill & extension drilling at the other five historically drilled prospects to upgrade and add to MRE Testing of Exploration Model o Additional field mapping o Further geophysical surveys using modern techniques e.g. MMT o Drill testing of high priority regional targets Project Development o Preliminary metallurgical testing o Preliminary Economic Assessment (“PEA”) Combination of large tonnage, high-grades, and predictable ore-body geometry make SSCs very attractive for large scale mining operations Bonanza grades would allow smaller high-grade operations in parallel STO: ARCT
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BALANCED PORTFOLIO Bidjovagge (copper-gold) Swan Lake (copper- silver-gold) Hennes Bay (copper-silver) Geared towards drilling success & rapid project advancement Kuusi (copper-gold- PGE) Project Generation Initial Exploration Advanced Exploration Concept Study Feasibility Study Construction Production Conceptual Targets Drill Targets Inferred Resources Measured & Indicated Resources Ore Reserves Mine Plan Activity Milestone Swan Lake Hennes Bay Market Value Bidjovagge Kuusi Permitting o Flagship project with 447kt contained copper & 37Moz silver (Hennes Bay) o 2nd advanced project, with significant copper-gold resource (Bidjovagge) o Strong pipeline of advanced exploration targets (Swan Lake, Kuusi) STO: ARCT
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CORPORATE SUMMARY Capital Structure Shares on issue 47.03 M Share price (as at 9/02/26) 8.15 SEK Market Capitalisation 383 MSEK 52 Week Low/High 1.86 – 15.50 SEK Cash (as at 31/12/2025) 18.5 MSEK 34% 41% 26% Shareholder Summary Board, Management and Advisors Institutional and sophisticated investors Other Shareholder Summary STO: ARCT PETER WALKER Non-Executive Director Over 40 years of international experience in the resources sector, Founder and CEO of Scandinavian Minerals KRISTER SÖDERHOLM Advisor Geologist with more than 40 years of experience in mining and exploration in the Nordic region and internationally Board & Management Advisory Comittee ROBERT BEHETS Non-Executive Chairman Over 35 years of international experience in the resources sector, instrumental in the growth of Mantra Resources and Papillon Resources PETER GEORGE Managing Director & CEO 30 years of experience in the resources sector including technical and managerial roles in Boliden and MD/Executive Director of Alicanto Minerals LARS-ERIC AARO Advisor Over 35 years in the mining industry with executive roles at major companies like LKAB and Boliden, and an industry advisor in sustainable mining strategies DUNCAN LARGE Advisor Geologist with more than 40 years of experience in mining and exploration globally. Former exploration Manager Eurasian Minerals JONAS LINDHOLM Advisor Business Facilitator with over 20 years of experience in creating new. Former Swedish Trade Commissioner responsible for Australian and NZ RISTO PIETILÄ Advisor Exploration geophysicist with +30 years of experience in Finland and internationally. Discovery track record, incl Silver Swan (Australia), Telkkälä (Finland) 25 yrs’ experience in the international financial sector. Previously global head of risk management for UBS Wealth in Switzerland and senior roles with Credit Suisse and EY advising Scandinavian high net worth individuals and investment funds. PIERRE OLSSON Advisor JOAKIM LIDFELD Non-Executive Director Investment Banker previously served as Managing Director at Sanford Bernstein for 20 years and has also held senior positions at Banks in the Nordic Region ERIK LUNDSTAM Deputy CEO and Chief Geologist 30 years of experience in various geological settings, with significant discoveries in Sweden with many years of experience across Boliden and Alicanto Minerals JOHAN SPETZ Incoming CFO Currently outgoing CFO of Sedana Medical. Previously Johan was partner and Head of Equity Research at investment bank Pareto Securities. Previously, Johan worked at Goldman Sachs in New York.
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INVESTMENT PROPOSITION Why Invest in Arctic Minerals? Right Commodities Future facing critical raw materials: Copper Silver, Gallium, Germanium, Vanadium and Rare Earth Elements Gold Right Geology Large scale copper deposit types: Sediment-hosted copper Porphyry copper-gold Right People Multi-disciplinary team (geology, mining, ESG, commercial, corporate) Extensive Scandinavian experience Track record of discovery and shareholder value creation Right Jurisdiction Tier 1 (Sweden, Norway, Finland) Leading energy transition EU Critical Raw Materials Act Balanced Portfolio Flagship project with 447kt contained copper & 37Moz silver (Hennes Bay) Second advanced project, with significant copper-gold resource (Bidjovagge) Strong pipeline of advanced exploration targets (Swan Lake, Kuusi) Positioned for the Nordic Markets Assets in Sweden, Norway & Finland Swedish & Finnish management Listed in Sweden STO: ARCT
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For further information: Contact Peter George, Managing Director and CEO, peter.george@arcticminerals.se