Amaroq (AMRQ) investor relations material

Strategic focus and operations

• Focused on gold, critical minerals, services, and hydroelectric development in Greenland, with a district-scale approach and significant private investment since 2017.

• Operates the Nalunaq gold mine, with a current resource of 484,000 ounces at high grade and a 10-year mine life, aiming to expand resources and throughput.

• Owns and explores the entire South Greenland gold belt, with additional assets like Nanoq and Vagar Ridge showing high-grade potential.

• Recently acquired the Black Angel zinc-lead-silver mine in northern Greenland, targeting resource expansion and leveraging existing infrastructure.

• Joint venture in Cadillac project for copper and rare earths, discovering new copper belts and nickel-copper-cobalt prospects.

Infrastructure, services, and sustainability

• Built extensive infrastructure including camps, processing plants, and logistics, reducing upfront CapEx for new projects.

• Established a wholly owned service company to support both internal and external mining operations in Greenland, aiming to attract outside investment.

• Developing hydroelectric power at Nalunaq, with licenses secured and pre-feasibility completed, targeting significant cost savings and long-term energy benefits.

• Plans to be the first private developer of hydropower in Greenland, with potential to supply local communities and future businesses.

Financial position and shareholder structure

• Market cap of approximately CAD 700 million, with a strong liquidity position: CAD 84 million in cash and CAD 9 million in credit, and net debt-free.

• Gold production ahead of expectations, with 5,000 ounces mined and sold by Q3, and further updates expected in November.

• No anticipated need for capital raises to support ongoing operations, with OpEx targeted at $5 million per month post-CapEx.

• Over 90% of shareholders are long-only, including pension and sovereign wealth funds from the Nordics, Europe, and the U.S.; management holds 11%.