Eurasia Mining (EUA) Investor update summary

Strategic rationale for asset sale

• Active negotiations continue for the sale of the West Kytlim mine to support higher-value Kola Peninsula projects, which are considered the company's core assets due to their scale and favorable commercial environment.

• The sale is seen as a necessary move to secure working capital and protect the company's most valuable assets amid challenging taxation and geopolitical risks in Russia.

• The transaction is structured to avoid further shareholder dilution and to maintain momentum in developing Monchetundra and NKT.

• The company is not rushing to sell Kola assets due to current punitive exit taxes on foreign owners, hoping for improved conditions by 2026.

• The sale of West Kytlim simplifies administration and positions the company for a potential future sale or development of its remaining assets.

Operational and financial update

• West Kytlim has been loss-making on paper but provided essential cash flow for Russian operations; however, volumes in 2025 were lower than planned.

• The company recently raised cash in March to support UK operations, with executives foregoing salaries to conserve resources.

• Current cash position is expected to last until mid-2027, with additional funding for Kola development anticipated from the Sinosteel contract.

• VAT refunds are now functioning normally, and metal prices relevant to Kola projects have increased significantly in 2025.

• Institutional shareholding has increased, reflecting confidence in the long-term value of the Kola assets.

Project development and outlook

• Monchetundra and NKT projects in the Kola Peninsula are progressing, with detailed engineering work completed and awaiting state approval, likely in Q1 2026.

• Early-stage mining at Monchetundra could begin as soon as late 2026, potentially via toll mining arrangements.

• The company maintains a first-mover advantage in the Kola region, with significant reserves and resources recognized as critical minerals in Western markets.

• The Sinosteel contract provides a flexible financing structure for Kola development, minimizing upfront capital requirements.

• No management or related party interests exist in the buyer of West Kytlim; the sale is to an independent third party.