Guidance 2026 Mikael Staffas, President and CEO Håkan Gabrielsson, CFO December 5, 2025 2026 Outlook Mines Smelters Capital Expenditure Guidance 2026 2 • First full year with Somincor and Zinkgruvan • Higher grades in open pits • Increased milled volume • Aitik (less diorite), Garpenberg (expanded permit), the Boliden Area (Kristineberg expansion) and Tara (ramp-up) • Changed tax levels in Finland • Potentially increased annual costs of EUR 20-30 m in Kevitsa • Increased zinc and precious metal production i ...

Core Viewpoint - Boeing is signaling a potential increase in production of its most profitable single-aisle jet, marking a significant turning point after a catastrophic crash 20 months ago [1][6]. Production Plans - Boeing plans to raise its production rate from 38 jets per month to 42 jets as soon as this month, with further increases potentially reaching around 53 jets per month by the end of 2026 [2]. Financial Implications - The increase in production could have substantial financial benefits for Boeing, including improving its finances, paying down debt, generating more cash, and potentially ending 12 consecutive quarters of losses [3]. Industry Context - Airlines are eager for new jets due to a global supply chain crunch, and Boeing's ability to increase production is crucial for their growth [4]. - Airbus is also facing challenges in meeting demand, and Boeing's production increase could help it catch up with Airbus [5]. Historical Context - Boeing has fallen behind in production over the past few years, particularly following the fatal crashes of the 737 MAX in 2018 and 2019, making this a watershed moment for the company [6]. Leadership Perspective - This production increase is seen as the beginning of a potential turnaround under CEO David Calhoun [7].

Production Forecast - France's wine production is projected to increase by up to 17% in 2025 compared to the previous year [1] Weather Impact - Adverse weather conditions negatively impacted wine growing regions in France last year [1]

The money will allow MP Materials, with operations including a mine in California and a factory in Texas, to dramatically increase production of the magnets needed for fighter jets, electric vehicles, smartphones and more https://t.co/rqsYmA6IBs ...

Financial Data and Key Metrics Changes - The company reported a cash loss per month of approximately $400,000, which is nearly half of what it was a year ago, indicating improved cost management [10][12] - Interest expenses decreased by $165,000 for the quarter due to note conversions as part of balance sheet cleanup efforts [19] - The company has maintained consistent income from operations in the range of $1,800,000 per quarter, with a slight uptick noted [21] Business Line Data and Key Metrics Changes - Oil production remained stable, with an uptick in oil revenue attributed to market price fluctuations, while gas revenues increased by $50,000 for the quarter due to higher gas prices [23] - Lease operating expenses (LOE) decreased to $683,000 per month in Q1, down from $700,000 to $750,000 in the previous year [19][33] - The company has approved 45 workovers, which are expected to significantly increase production once funding is secured [15] Market Data and Key Metrics Changes - The company hedged 70% of its oil production at $70 per barrel, which mitigates the impact of current market price fluctuations [11][23] - Gas prices have performed better than oil prices, leading to increased gas revenue [46] Company Strategy and Development Direction - The company is focused on reducing debt and improving its balance sheet by retiring senior debt and preferred shares [39][78] - There is a strategic emphasis on workovers to increase production in the near term, with plans for drilling in the longer term [39][78] - The company is exploring low-cost acquisitions to enhance its asset base amid low oil prices [40][78] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, stating that the stock is undervalued and that they are positioned for significant growth in the coming quarters [41][78] - The management believes that oil prices will stabilize around $70 per barrel, despite current market forecasts suggesting lower prices [62][66] - The company is actively seeking gas opportunities, including unconventional gas and specialty gas, to enhance revenue streams [46] Other Important Information - The company has made significant progress in reducing general and administrative (G&A) costs, with a target of a million-dollar reduction over the year [25][71] - The company is not planning to purchase its own drilling rig but may consider acquiring workover rigs as market conditions allow [68][69] Q&A Session Summary Question: Can you give us some color on your gas operations and what you think the future in gas will be for the company? - Management noted that gas prices have been more favorable than oil prices, and they are exploring gas opportunities, including specialty gas like helium [46][47] Question: How was your relationship with Chevron? - The company reported an excellent relationship with Chevron, which is interested in increasing oil production from the company [52][53] Question: Will the entire deal with Encore close in June, or can it be done in pieces? - Management indicated that the deal is likely to close all at once, with a target date in late June or early July [56] Question: Can you explain how the hedging program operates and do you make any money off of it? - The hedging program involves swaps that lock in prices for 70% of production, providing a safety net against market fluctuations [58] Question: Can you give your thoughts on the oil and gas business in '25 and how do you feel about what's been going on worldwide? - Management believes the Permian has peaked but expects oil prices to stabilize around $70, with a focus on workovers and better drilling practices [62][66] Question: Do you see an opportunity for you guys on as far as the rig count going down where you'll be able to get rigs at a cheaper price? - Management indicated that while they do not plan to buy a drilling rig, they may consider acquiring workover rigs if market conditions are favorable [68][69] Question: How do you look at 2025, especially with the industry under pressure? - Management is focused on further reducing costs and leveraging acquisitions to maintain a lean operation while expanding growth opportunities [70][73]