Polar Resources (POLAR) Company presentation summary

Investment highlights

• Large opportunity set in natural resources, targeting both mining and oil & gas sectors, with a focus on early-stage projects in Norway and transformative deals internationally.

• Asset base includes four exploration licenses in Central Norway with copper and zinc potential, positioned near infrastructure for efficient development.

• Highly experienced leadership and advisory team with a proven track record in M&A, value creation, and resource exploration, supported by strategic partner Trafigura.

• Backing from Trafigura, a leading global commodity trader, as cornerstone investor and offtake/marketing partner, providing access to capital and deal flow.

• Clear strategy to mature mining assets and pursue accretive M&A in oil & gas, leveraging proprietary networks and disciplined deal structuring.

Asset portfolio and exploration strategy

• Holds four licenses in Central Norway: Åsoren Gruve, Selgruva, Tverrfjellgruva, and Gressligruva, all with historic mining and VMS-type sulphide mineralization.

• Exploration approach uses modern geophysics and mapping to rapidly advance underexplored assets to drill-ready status.

• Initial programs include mapping, sampling, and heli-borne surveys, with prioritization of the most prospective areas for further work.

• Each license area is accessible by major roads and railways, with historic grades indicating copper and zinc potential.

Business model and value creation

• Dual verticals: maturing existing mining assets and executing M&A in both mining and oil & gas, focusing on early-stage value capture and cash-flowing assets.

• Buy-and-build strategy in mining targets fragmented Norwegian sector, using equity and milestone-based structures to limit upfront payments and dilution.

• Oil & gas strategy targets overlooked assets with strong cash flow, leveraging team’s track record and global network for deal sourcing and financing.

• Demonstrated ability to execute accretive transactions, with a history of oversubscribed capital raises and successful exits.