Gruvaktiebolaget Viscaria: Year-end report 2025

"We have continued to build strong momentum in the business over the course of the year. Infrastructure work has progressed with high intensity, and the debt-financing process continues to develop constructively. In addition, the quarter's successful exploration confirms significant growth potential for Viscaria." - Jörgen Olsson, CEO of Viscaria

Significant events during the period October - December 2025

• A directed share issue contributed about SEK 800 million and a rights issue contributed about SEK 850 million, before total issuance expenses of about SEK 50 million, corresponding to about 3,3 percent.
• The water treatment plant, WTP 1000, was inaugurated as planned on 22 October.
• A mandate letter was signed with Société Genéralé and ING to arrange a structured debt-based project financing package of up to approximately SEK 3.9 billion.
• A Memorandum of Understanding was signed with Germany's Aurubis AG for a long-term copper offtake agreement. The agreement is expected to cover approximately 50 percent of Viscaria's projected copper output over an eight-year period (2028-2035) with the option to extend.

Significant events after the end of the period

• Long Lead Item (LLI) agreement signed with Metso covering two mills for the processing plant.
• Agreement signed with Strawberry and MG Link for the construction and operation of the residential area Viscaria Village.

Geology

• The latest exploration results confirm significant growth potential for the Viscaria deposit:
  Extensive mineralisation intersected in the B-zone gap: 76.2 m at 0.99% Cu, 1.37 ppm Ag.
  High-grade copper discovered in the C-zone: 5.8 m at 2.31% Cu, 1.64 ppm Ag.
  Step-out drilling in D-zone confirms extension over 400 m from the existing resource.

October - December 2025

• Net sales amounted to SEK 0 million (0).
• Profit after tax for the period was SEK -41.4 million (-19.2).
• Earnings per share before and after dilution amounted to SEK -0.25 (-0.16).
• Capitalised expenses related to exploration and appraisal assets amounted to SEK 77.7 million (77.0).
• The Group's cash flow for the period was SEK 1,090 million (-153).

January - December 2025

• Net sales amounted to SEK 0 million (0).
• Profit after tax was SEK -109 million (-48.2).
• Earnings per share before and after dilution amounted to SEK -0.83 (-0.44).
• Capitalised expenses related to exploration and appraisal assets amounted to SEK 284 million (330).
• The Group's cash flow for the period was SEK 1,175 million (-34.5).
• Cash and cash equivalents amounted to SEK 1,407 million on December 31, 2025 (232 on December 31, 2024).
• Equity amounted to SEK 3,095 million on 31 December 2025 (1,598 on 31 December 2024).

Presentation of the year-end report
A live presentation of this report will be held today, Tuesday 10 February, at 09.30 CET. The report will be presented by CEO Jörgen Olsson and CFO Frida Keskitalo, followed by a Q&A session.
The live webcast can be accessed via the link: www.youtube.com/live/0jrhSczllDY

This information was submitted for publication at 07.30 CET on February 10, 2026.

For further information, please contact:
Jörgen Olsson, CEO
Mobile: +46 (0) 703 - 420 570
Email: [e-mail]

Karin Svensson, Head of Communications
Mobile: +46 (0) 761 - 169 190
Email: [e-mail]

[e-mail] or www.viscaria.com

About Viscaria
Gruvaktiebolaget Viscaria is a company that is scaling up to become a modern and responsible producing mining company through the reopening of the Viscaria mine in Kiruna. The deposit's high copper grade, assessed mineral resources, geographical location and growing team of experienced employees provide good conditions for the company to become an important supplier of high-quality and responsibly produced copper - a metal that has a central role in Sweden's and Europe's climate transition. In addition to the Viscaria mine, the company holds a number of processing concessions and exploration permits in Arvidsjaur (Eva, Svartliden, Granliden) and Smedjebacken (Tvistbogruvan) - all in Sweden. The Parent Company's shares are listed on Nasdaq Stockholm Main Market (ticker VISC).