Reference is made to the stock exchange announcement published by Nordic Mining ASA ("Nordic Mining" or the "Company") on 16 January 2026 regarding a successfully placed private placement of new shares in the Company raising approximately NOK 200 million in gross proceeds by issuing 16,666,666 new shares, each at a subscription price of NOK 12.00 per share (the "Subscription Price") (the "Private Placement") and a contemplated subsequent offering of up to 10,833,333 new shares in the Company at the Subscription Price in the Private Placement, raising gross proceeds of up to approximately NOK 130 million (the "Subsequent Offering").

The Company's shares have for an extended period traded below the Subscription Price and this is also currently the case. Since the placing of the Private Placement, the total traded volume at prices at or below the Subscription Price is higher than the maximum size of the potential Subsequent Offering. Accordingly, existing shareholders who did not participate in the Private Placement have had the opportunity to reduce the dilutive effects of the Private Placement at trading prices at or below the Subscription Price.

The Board of Directors of Nordic Mining has therefore decided not to proceed with the Subsequent Offering.

For further information, please contact:

Tord Meling, CFO

Tel: +47 99 09 87 66

tord.meling@nordicmining.com

or visit: www.nordicmining.com

About Nordic Mining

Nordic Mining ASA is a resource company with focus on critical minerals. The Company is undertaking a large-scale industrial development at Engebø on the west coast of Norway through its wholly owned subsidiary, Engebø Rutile and Garnet AS, which has mining rights and permits to a substantial eclogite deposit with rutile and garnet. In addition, the Group holds a landowner agreement for exploration and development of a high purity quartz deposit in the Kvinnherad Municipality in Norway and is currently conducting a test work program where bulk samples from the deposit will be used for pilot scale processing of high purity quartz product through a full cycle process. Nordic Mining's project portfolio is of high international standards and holds significant economic potential. The assets, and in particular the wholly owned Engebø Project, provide a solid value basis for Nordic Mining's shareholders. Nordic Mining is listed on the Oslo Stock Exchange.