Beowulf Mining (BEM) Corporate Presentation summary

Investment case and strategic focus

• Developing a diversified European portfolio of critical minerals supporting the green transition, including iron ore, graphite, copper, nickel, and gold.

• Assets are strategically located in Europe, benefiting from political support and proximity to key markets and infrastructure.

• Focus on supply chain security and decarbonisation, with projects aligned to EU and global critical minerals strategies.

• Committed to ESG principles, targeting carbon neutrality and stakeholder value creation.

• Capital raise of up to £4.5m/SEK59m to fund project milestones, including pre-feasibility studies and environmental permits.

Jokkmokk Iron (Kallak Project)

• Sweden's largest undeveloped iron ore deposit, with 111Mt measured & indicated and 25Mt inferred resources at ~28% Fe.

• Targeting high-grade, low-impurity concentrate (>70% Fe) for green steel, with strong demand from decarbonising steel industry.

• Well-advanced PFS and environmental permitting, with significant exploration upside for mine life extension.

• Project economics: NPV8 up to US$829m, IRR up to 31.8%, payback 2.7–4.5 years, and concentrate production up to 2.7Mtpa.

• Excellent infrastructure access, low-cost renewable energy, and skilled workforce in northern Sweden.

Grafintec (Graphite Anode Materials)

• Developing a graphite anode materials plant in Finland, with PFS completed in March 2025.

• Phase 1 post-tax NPV8 of €924m, IRR 37%, and highly competitive operating costs (€2,381/tonne product).

• Plant to supply up to 25,122 tpa CSPG in Phase 1, scaling to 75,366 tpa in Phase 2, supporting up to 1 million EVs.

• Aitolampi project holds one of Europe's largest flake graphite resources (26.7Mt at 4.8% graphite).

• EU and Finnish support through grants, tax incentives, and alignment with critical raw materials legislation.