Improved debt financing agreement

Core Viewpoint - Amaroq Ltd. has successfully amended its debt financing agreement with Landsbankinn, extending the maturity and improving the terms, which enhances the company's financial flexibility and supports its growth strategy [2][3][4]. Debt Financing Agreement - The debt financing package has been extended by 14 months, from December 2026 to February 2028, with potential improved terms to 4.5% plus SOFR [3][6]. - The total commitment of the revolving credit facility with Landsbankinn is US $35.245 million, divided into three tranches: A, B, and C [4][6]. - Facility A is US $18.5 million and Facility B is US $10.245 million, both fully drawn with an initial margin of 9.5% per annum, reducing to 7.5% once Facility C becomes available [6]. Financial Terms and Conditions - Facility C, amounting to US $6.5 million, has a margin of 7.5% per annum and is accessible once the company's cumulative EBITDA exceeds CAD 6 million [6]. - Additional margin step-downs are introduced based on the last twelve months' EBITDA, with rates decreasing to 6.25% if LTM EBITDA exceeds CAD 25 million, 5.00% if it exceeds CAD 50 million, and 4.50% if it exceeds CAD 70 million [6]. Project Development - The Nalunaq project in South Greenland is advancing in its commissioning phase and is beginning to generate revenues, which will help unlock improved margins on the financing facility and lower operating costs [4].