Results of Fundraising

Core Viewpoint - Amaroq Minerals Ltd. successfully completed a significantly oversubscribed fundraising, raising approximately £45.0 million to support its operations in Greenland [5][6][11]. Fundraising Details - A total of 52,986,036 new common shares were conditionally placed at a price of 85.0 pence per share, raising gross proceeds of approximately £45.0 million (C$83.2 million, ISK 7.6 billion) [6]. - The net proceeds will be utilized for ongoing commissioning and production expansion at Nalunaq, technical studies, creating a new hub in West Greenland, and enhancing working capital flexibility [6][11]. - The Fundraising Shares will represent approximately 11.7% of the Company's enlarged share capital post-fundraising [7]. Investor Interest - Approximately 90% of the demand for the fundraising was secured from a diverse range of institutional investors from the UK, USA, and mainland Europe [8]. - The fundraising received considerable interest from a broad spectrum of investors globally, indicating strong market support for the Company's strategy [11]. Admission and Trading - Admission of the Fundraising Shares is expected to become effective on AIM, the Icelandic Exchange, and TSX-V on June 30, 2025 [7][14]. - The total issued share capital of Amaroq will consist of 454,106,653 common shares following the admission of the new shares [16].