Botnia Gold (BOTX) investor relations material

Executive summary

• Net sales for Q1 2026 reached KSEK 117,541, a tenfold increase year-over-year, with operating profit at KSEK 30,123 and net profit at KSEK 23,463, reflecting the transition to gold production and a turnaround from losses in Q1 2025.

• The Fäbodtjärn mine is fully operational, with production aligning with planned annual rates and ongoing preparations for deeper exploration.

• The company completed a successful ore beneficiation campaign at Björkdal, producing 85 kg of gold at a recovery rate of 93.5% and 7.24 g/t grade.

• The ore sorting plant reached full operational capacity in March, improving production efficiency for upcoming campaigns.

• Severe winter conditions led to higher energy and maintenance costs, impacting operational expenses.

Financial highlights

• Revenue for Q1 2026 was KSEK 117,541, up from KSEK 11,309 in Q1 2025.

• Operating profit was KSEK 30,123 (Q1 2025: -12,255), and net profit after tax was KSEK 23,463 (Q1 2025: -10,028).

• Earnings per share were SEK 0.58 (Q1 2025: -0.25).

• Cash flow from operations was KSEK -37,073, mainly due to increased receivables from gold deliveries not yet paid.

• Investments totaled KSEK 12,602, primarily in Fäbodtjärn mine development and ore sorting.

Outlook and guidance

• Fäbodtjärn is expected to maintain planned production rates, with ongoing drilling to explore deeper mineralization and extend mine life.

• A new beneficiation campaign at Svartliden is planned for late Q2, targeting 20,000 tons of ore.

• High gold prices and favorable USD/SEK rates support continued profitability and expansion opportunities.

• The company sees strong potential for further resource expansion in the Vindelgransele area and plans to update Vargbäcken project plans in 2026.

• Exploration drilling in Vargbäcken and Fäbodtjärn continues, aiming to update resource models and support future production.