Polar Resources (POLAR) H2 2025 earnings summary

Executive summary

• Broadened strategic mandate in 2026 to include mining and oil & gas, focusing on critical minerals and transformative acquisitions in Europe, Latin America, and SE Asia.

• Held four early-stage exploration licenses in Central Norway with no operational activities performed in 2025.

• No revenue recorded in 2025; net loss of NOK 4,216,227.

• Negative book equity as of 31 December 2025; subsequent capital injections executed post year-end.

Financial highlights

• Net loss for 2025 was NOK 4,216,227, compared to NOK 4,082,239 in 2024.

• Total assets at year-end 2025 were NOK 51,861, down from NOK 80,721 in 2024.

• Bank deposits at year-end 2025 were NOK 45,696.

• No revenue was generated during the year.

Outlook and guidance

• Continuation of efforts to secure capital through IPO on Euronext Growth or alternative funding.

• Planned work programs for mineral licenses include data acquisition, mapping, and identification of drill targets.

• Focus remains on transformative acquisitions and further development of existing assets.