Endomines Finland (PAMPALO) Company presentation summary

Strategic growth and market positioning

• Gold production in Finland is expanding, with a focus on the Karelian Gold Line, a 40 km highly prospective belt with significant exploration upside.

• Control of the Karelian Gold Line enables resource growth and long-term value creation, supported by Finland's top global mining investment ranking.

• Expansion into critical minerals, including tungsten and molybdenum, is underway, with EU Critical Minerals status application submitted.

• Strategic divestment of U.S. assets and focus on Finnish operations streamline the business for future growth.

• Long-term targets include 1.5-2.0 million oz gold resource and annual production of 70,000-100,000 oz by 2030, with fossil-free gold production by 2035.

Operational and financial performance

• H1 2026 revenue grew 61% year-over-year to €34.7M, with EBITDA up 86% to €14.3M and net result up 356% to €10.4M.

• Gold production increased 9.7% compared to H1 2025, reaching 16,630 oz in 2025, with a target of 10-20% growth in 2026.

• Cash cost per ounce rose 23.6% year-over-year to €1,588, mainly due to lower ore grades and higher electricity prices.

• Balance sheet strengthened with equity ratio at 69.2% and net gearing reduced to 10.1% as of June 2026.

• Share price increased 216% over 24 months, reflecting strong market confidence.

Exploration and resource development

• Gold resources on the Karelian Gold Line grew 211% from 2022 to 2025, reaching 619,600 oz, with 50,000 m of drilling planned for 2026.

• The Ukko deposit discovery in 2025 yielded high-grade, wide gold intersections, supporting future resource growth.

• Southern Gold Line is the main exploration focus for 2026-2027, with production targeted around 2030.

• Tungsten and molybdenum resources are being defined, with Kuittila showing strong potential and metallurgical testwork ongoing.

• Environmental permitting and prefeasibility studies for Southern Gold Line are progressing, with production ramp-up planned for 2030.