Scandinavian Ocean Minerals holds exploration permits for four areas in the Bothnian Bay, covering a total of 800 square kilometers. After the Successful Expedition – Work Continues Scandinavian Ocean Minerals holds exploration permits for four areas in the Bothnian Bay, covering a total of 800 square kilometers. Between October 6 and 17, the latest expedition was carried out together with our partner Sweco. Data collected during the expedition is now being analyzed. The results will form the basis for the environmental impact assessment (EIA), an important step toward the permit application with EIA as an appendix, which will be sent to the government in 2025. The assessment indicates that 60 square kilometers of the 80 surveyed in the Bothnian Bay show a good presence of manganese nodules. The amount is in line with previous estimates, and there is strong evidence that there is more to be found. Alongside the data analysis from the expedition, discussions are ongoing about land, energy, and infrastructure issues. A consultation with government authorities, organizations, and the public will also take place. This consultation may provide recommendations for any necessary additions to the surveys. Peter Lindberg, CEO SOM AB peter.lindberg@som-ab.se , +46(0)73-617 95 20 Peter Lindberg, CEO SOM AB peter.lindberg@som-ab.se , +46(0)73-617 95 20 Peter Lindberg, CEO SOM AB peter.lindberg@som-ab.se , +46(0)73-617 95 20 Peter Lindberg, CEO SOM AB peter.lindberg@som-ab.se , +46(0)73-617 95 20 1. On theBothnia Bay seafloor lies small potato-sized lumps – nodules – that contain minerals. In theBaltic Sea lies sediments. 2. Via an air-lift technique, developed by Scandinavian Ocean Minerals, the seafloor is gently harvested for nodules or bottom sediment. 3. On board the ship, nodules are filtered or, if sediment centrifuged 4. Water and material that is not used is returned directly to the seafloor, which becomes oxygenated in the process. 5. Nodules and sediment are transported to land where nodules are refined into, among other things, manganese, iron, silicon (used for batteries, solar cells and semiconductors) while sediment becomes biogas, hydrogen gas or green coal (used for fossil-free steel) .

What marine environmental impact could the extraction of manganese nodules in the Bothnian Bay have? This is the question that Sweco, Europe's leading engineering consultancy, was tasked with answering. Report Delivers Positive News What marine environmental impact could the extraction of manganese nodules in the Bothnian Bay have? This is the question that Sweco, Europe's leading engineering consultancy, was tasked with answering. The area studied covers 83 square kilometers and is located approximately 70 kilometers southeast of Skellefteå, within Sweden's exclusive economic zone. The water depth ranges from 60 to 130 meters. Now, Sweco's report is complete, and it confirms, among other things: • The presence of organic pollutants, substances that could be harmful to the environment and health, was generally low. • The fauna found indicates relatively homogeneous and species-poor habitats with species commonly found in coastal and lake areas. • No red-listed or endangered species were found. • The seabed consists of common biotopes with little ecological function or only basic ecological function. For us at Scandinavian Ocean Minerals, the results are completely in line with our previous studies and forecasts. This also applies to the report's remark that "extraction of nodules is assessed to potentially pose a risk of turbidity and spreading of sediment pollutants (primarily metals), which need further investigation." Minimizing the risk of this is something we have been working on for several years and will continue to do as planned. The results of the natural value survey are a valuable contribution to the Environmental Impact Assessment that we are currently working on. This will, in turn, be a cornerstone of our application for extraction permits, which is planned to be submitted to the government later this year. Scandinavian Ocean Minerals was established in 2020 to meet the industry's need for the green transition. Since then, the search for critical and strategic metals and minerals has increased, raising the risk of geopolitical conflicts. This has led the EU to intensify efforts to reduce dependency on imports. At Scandinavian Ocean Minerals, we can and want to contribute to securing self-sufficiency in raw materials. The discovery of 20 million tons of mineral-rich manganese nodules in the Bothnian Bay, combined with our technology and expertise, holds great potential. We could supply the EU with as much as ten to fifteen percent of its import dependency for materials such as manganese alloys. Peter Lindberg, CEO SOM AB peter.lindberg@som-ab.se , +46(0)73-617 95 20 Peter Lindberg, CEO SOM AB peter.lindberg@som-ab.se , +46(0)73-617 95 20 Peter Lindberg, CEO SOM AB peter.lindberg@som-ab.se , +46(0)73-617 95 20 Peter Lindberg, CEO SOM AB peter.lindberg@som-ab.se , +46(0)73-617 95 20 1. On theBothnia Bay seafloor lies small potato-sized lumps – nodules – that contain minerals. In theBaltic Sea lies sediments. 2. Via an air-lift technique, developed by Scandinavian Ocean Minerals, the seafloor is gently harvested for nodules or bottom sediment. 3. On board the ship, nodules are filtered or, if sediment centrifuged 4. Water and material that is not used is returned directly to the seafloor, which becomes oxygenated in the process. 5. Nodules and sediment are transported to land where nodules are refined into, among other things, manganese, iron, silicon (used for batteries, solar cells and semiconductors) while sediment becomes biogas, hydrogen gas or green coal (used for fossil-free steel) .

Follow the big events in Scandinavian Ocean Minerals' journey. 2013 Milestones Knowledge acquisition, idea process, process evaluation and tests 2014 2018 Practical tests with absorption of bottom sediments in the Baltic Sea 2022 2020 Ocean Minerals AB (SOM AB) is established, and the permission application is started. Initial contacts with potential partners SOM AB presents a proposal to the Swedish government on how to prevent the bottom death in the Baltic Sea The manganese deposits are verified through an expedition 2021 SGU recommends the government to approve the research permit (June) Successful test with a unique method that releases iron and manganese without impurities from the manganese nodules The operations is presented to the Swedish Minister of Industry 2023 The exploration permits for areas 1 and 2 are granted by the government Surveys with initial hydrographic surveys are starting The financing process is intensified 2024 Exploration permits for areas 3 and 4 are granted by The Geological Survey of Sweden A survey for the nature value inventory is being carried out Work on the Baltic Sea project is ongoing concurrently 2025 The nature value inventory report is being completed Consultation regarding the extraction permit with the relevant authorities Expedition with the Bothnia Surveyor to map nodules in additional areas The environmental impact assessment is being completed An application for extraction is submitted to the government Technological development for harvesting and methods for processing nodules are ongoing concurrently The projects in the Gulf of Bothnia and the Baltic Sea are brought together LOI with LKAB on development of process technology, infrastructure and receiving of minerals Collaboration with Vattenfall and SSAB in the Baltic Sea project The survey vessel R/V Bothnia Surveyor is acquired The application for a research permit is sent to the Ministry of Industry (November), which forwards the matter to the Geological Survey of Sweden (SGU) Letter of intent (LOI) with LKAB on development of process technology, infrastructure and reception of minerals Cooperation with Vattenfall and SSAB regarding the Baltic Sea project The survey vessel R/V Botnia Surveyor is acquired The application for a research permit is sent to the Ministry of Climate and Enterprise, which forwards the case to the responsible authority, i.e. Geological Survey of Sweden (SGU) Knowledge acquisition, idea process, process evaluation and tests 2026 A government decision is made regarding the extraction application Development of technology and methods for processing nodules is ongoing concurrently 2027 Harvesting of nodules can begin 2026 2027 A government decision is issued regarding the permit application for extraction Development of technology and methods for processing nodules is ongoing in parallel Harvesting of nodules can begin 1. On theBothnia Bay seafloor lies small potato-sized lumps – nodules – that contain minerals. In theBaltic Sea lies sediments. 2. Via an air-lift technique, developed by Scandinavian Ocean Minerals, the seafloor is gently harvested for nodules or bottom sediment. 3. On board the ship, nodules are filtered or, if sediment centrifuged 4. Water and material that is not used is returned directly to the seafloor, which becomes oxygenated in the process. 5. Nodules and sediment are transported to land where nodules are refined into, among other things, manganese, iron, silicon (used for batteries, solar cells and semiconductors) while sediment becomes biogas, hydrogen gas or green coal (used for fossil-free steel) .

Scandinavian Ocean Minerals holds exploration permits for four areas in the Bothnian Bay, covering a total of 800 square kilometers. A collaborator and his plans for 2025 We aim to do something that is both important and complex. Therefore, it is crucial to have competent collaborators with cutting-edge expertise in science. For us, Björn Glaser—Associate Professor and Head of the Unit of Processes at the Royal Institute of Technology (Kungliga Tekniska Högskolan) in Stockholm—is one of those people. Björn, a German metallurgist named after Björn Borg, has extensive experience in high-temperature metallurgy processes. “Next year, I hope to begin studies that will help Scandinavian Ocean Minerals develop sustainable processes for incorporating nodules as an important raw material in the value chain,” he says. Björn looks forward to advancing his collaboration with us, along with his dedicated team. “I see a lot of potential. Currently, for example, much of the electrolytic manganese is imported from South Africa and Asia, where it is mined and produced using hydrometallurgical and electrolytic processes, leaving a high environmental impact. If we could find a more sustainable way to extract, for example, ferromanganese from the Swedish seabed and process it cost-effectively, that would be a significant achievement.” Peter Lindberg, CEO SOM AB peter.lindberg@som-ab.se , +46(0)73-617 95 20 Peter Lindberg, CEO SOM AB peter.lindberg@som-ab.se , +46(0)73-617 95 20 Peter Lindberg, CEO SOM AB peter.lindberg@som-ab.se , +46(0)73-617 95 20 Peter Lindberg, CEO SOM AB peter.lindberg@som-ab.se , +46(0)73-617 95 20 1. On theBothnia Bay seafloor lies small potato-sized lumps – nodules – that contain minerals. In theBaltic Sea lies sediments. 2. Via an air-lift technique, developed by Scandinavian Ocean Minerals, the seafloor is gently harvested for nodules or bottom sediment. 3. On board the ship, nodules are filtered or, if sediment centrifuged 4. Water and material that is not used is returned directly to the seafloor, which becomes oxygenated in the process. 5. Nodules and sediment are transported to land where nodules are refined into, among other things, manganese, iron, silicon (used for batteries, solar cells and semiconductors) while sediment becomes biogas, hydrogen gas or green coal (used for fossil-free steel) .

There are four macro trends affecting us: Environmental challenges, electric energy transition, geopolitical shift and the green industrial revolution. Here Scandinavian Ocean Minerals have a part to play. There are four macro trends affecting us where Scandinavian Ocean Minerals have a part to play: First, the environmental challenges we face is one of the major global mega trends. The consequences from global warming and carbon emissions are massive and calls for hasty action. The environmental challenges are high on the political agenda, where policy makers have gone from discussing the problems to focusing on solutions. There is a strong global commitment to find and support solutions, not least by the UN global goals. In this context it should be mentioned that the Baltic Sea, where we are operating, is one of the world's most polluted oceans. Eutrophication, overfishing, increased shipping, and emissions of environmental toxins have turned the Baltic Sea into an ocean in crisis. A solution to reach the ambitious UN global goals is through the electric energy transition – the second macro trend. This is a prerequisite for phasing out the use of fossil fuels and limiting climate change. The electrification has been particularly strong when it comes to solar cells and in the transport sector. 99 percent of the raw materials of the batteries in these cars are, according to the European Commission, from outside of Europe. Due to the massive demand the supply chain has been challenged, which naturally brings us to the third trend – the geopolitical shift from interdependency towards self-sufficiency . The dependence on other countries, not least authoritarian states has been questioned and have led to initiatives where countries look for alternative solution to access necessary materials and technologies. Over 90 percent of the rare earth metals that the EU imports come from China, which also totally dominates the production of silicon. The green transition risks making Europe as dependent on minerals from non-European countries as it is on gas from Russia. The EU has identified the problem and is now working with the "Critical raw materials act" to enable extraction of important metals in Europe. The fourth trend is the ongoing green industrial revolution , particularly in the north of Sweden – Norrland. According to the chambers of commerce in Norrbotten and Västerbotten the current planned investments in Norrland sum up to over 1000 Bn SEK and between 25 000 to 100 000 new jobs being created consequently – and most of the investments are green. 1. On theBothnia Bay seafloor lies small potato-sized lumps – nodules – that contain minerals. In theBaltic Sea lies sediments. 2. Via an air-lift technique, developed by Scandinavian Ocean Minerals, the seafloor is gently harvested for nodules or bottom sediment. 3. On board the ship, nodules are filtered or, if sediment centrifuged 4. Water and material that is not used is returned directly to the seafloor, which becomes oxygenated in the process. 5. Nodules and sediment are transported to land where nodules are refined into, among other things, manganese, iron, silicon (used for batteries, solar cells and semiconductors) while sediment becomes biogas, hydrogen gas or green coal (used for fossil-free steel) .

Researcher Rickard Arvidsson, Associate Professor in Environmental Systems Analysis at Chalmers University in Gothenburg, is leading a groundbreaking project on sustainable ocean-based mineral extraction. We at Scandinavian Ocean Minerals are proud to contribute to this project and its vital research! Scandinavian Ocean Minerals Collaborates with Chalmers Researcher Rickard Arvidsson, Associate Professor in Environmental Systems Analysis at Chalmers University in Gothenburg, is leading a groundbreaking project on sustainable ocean-based mineral extraction. We at Scandinavian Ocean Minerals are proud to contribute to this project and its vital research! "Research on ocean-based mineral extraction indicates a lower climate impact over the lifecycle compared to land-based extraction. However, most studies have focused on deep-sea mining in the Pacific Ocean. We will specifically examine the environments of the Baltic Sea and the North Atlantic, with a greater emphasis on including aspects such as biodiversity in our studies," says Rickard Arvidsson. Scandinavian Ocean Minerals is one of the companies being studied in the project. Rickard and his colleagues at Chalmers and the University of Gothenburg will analyze data and techniques used for harvesting minerals in the Gulf of Bothnia over the next four years. "By collaborating with Scandinavian Ocean Minerals, we gain direct access to relevant data for use in our system analyses. We will also be able to identify methods and techniques that reduce environmental impacts," says Rickard Arvidsson. The project is funded by the Swedish Energy Agency and also involves Dr. Linus Hammar from the University of Gothenburg. Scandinavian Ocean Minerals' Robert Venema will be part of the project's advisory group. Peter Lindberg, CEO SOM AB peter.lindberg@som-ab.se , +46(0)73-617 95 20 Peter Lindberg, CEO SOM AB peter.lindberg@som-ab.se , +46(0)73-617 95 20 Peter Lindberg, CEO SOM AB peter.lindberg@som-ab.se , +46(0)73-617 95 20 Peter Lindberg, CEO SOM AB peter.lindberg@som-ab.se , +46(0)73-617 95 20 1. On theBothnia Bay seafloor lies small potato-sized lumps – nodules – that contain minerals. In theBaltic Sea lies sediments. 2. Via an air-lift technique, developed by Scandinavian Ocean Minerals, the seafloor is gently harvested for nodules or bottom sediment. 3. On board the ship, nodules are filtered or, if sediment centrifuged 4. Water and material that is not used is returned directly to the seafloor, which becomes oxygenated in the process. 5. Nodules and sediment are transported to land where nodules are refined into, among other things, manganese, iron, silicon (used for batteries, solar cells and semiconductors) while sediment becomes biogas, hydrogen gas or green coal (used for fossil-free steel) .

Exploration of the mineral deposits in the Bothnian Bay has been granted! Green light for Scandinavian Ocean Minerals – Exploration of the mineral deposits in the Bothnian Bay has been granted! Scandinavian Ocean Minerals has been granted an exploration permit from the Swedish Ministry of Climate and Enterprise. The background is the mineral deposits located in two areas in the Bothnian Bay. "The permit gives us the opportunity to take the next step in our vision of creating the conditions necessary for a fossil-free society!" says Peter Lindberg, CEO of Scandinavian Ocean Minerals. An exploration permit for sampling the mineral deposits, which consist of poly-metallic nodules has now been granted. The total recoverable amount of nodules in the Bothnian Bay is calculated to approximately 20 million tonnes. Once the business is fully operational, the goal is that approximately one million tonnes of nodules will be extracted annually. This business paves the way for a new and unique industry for Sweden: a green, offshore industry which reconciles climate benefits, commercial interests, and job creation. "The fact that we have now been granted permission to explore the Bothnian Bay is an important political signal. The purpose of the business is to increase Sweden's and Europe's self-sufficiency in terms of innovation-critical minerals including those needed for the production of batteries and semiconductors,” explains Peter Lindberg. Minimal environmental impact The studies, which have now been approved by the Ministry of Climate and Enterprise, will ensure that future harvesting of the minerals can be carried out in a sustainable and environmentally-friendly way. To succeed, Scandinavian Ocean Minerals is developing a technology that enables gentle uptake, so-called harvesting, of the nodules in a circular process which returns oxygenated water to the bottom. The method is unique and should not be confused with conventional land mining or deep sea mining. "The nodules are extracted using a gentle technique. You could say that we harvest the sea floor with our method, which has less environmental impact than conventional mining," says Bengt Simonsson, research manager at Scandinavian Ocean Minerals. Peter Lindberg, CEO SOM AB peter.lindberg@som-ab.se , +46(0)73-617 95 20 1. On theBothnia Bay seafloor lies small potato-sized lumps – nodules – that contain minerals. In theBaltic Sea lies sediments. 2. Via an air-lift technique, developed by Scandinavian Ocean Minerals, the seafloor is gently harvested for nodules or bottom sediment. 3. On board the ship, nodules are filtered or, if sediment centrifuged 4. Water and material that is not used is returned directly to the seafloor, which becomes oxygenated in the process. 5. Nodules and sediment are transported to land where nodules are refined into, among other things, manganese, iron, silicon (used for batteries, solar cells and semiconductors) while sediment becomes biogas, hydrogen gas or green coal (used for fossil-free steel) .

Green light for Scandinavian Ocean Minerals – Exploration of the mineral deposits in the Bothnian Bay has been granted! Scandinavian Ocean Minerals has been granted an exploration permit from the Swedish Ministry of Climate and Enterprise. The background is the mineral deposits located in two areas in the Bothnian Bay. "The permit gives us the opportunity to take the next step in our vision of creating the conditions necessary for a fossil-free society!" says Peter Lindberg, CEO of Scandinavian Ocean Minerals. An exploration permit for sampling the mineral deposits, which consist of poly-metallic nodules has now been granted. The total recoverable amount of nodules in the Bothnian Bay is calculated to approximately 20 million tonnes. Once the business is fully operational, the goal is that approximately one million tonnes of nodules will be extracted annually. This business paves the way for a new and unique industry for Sweden: a green, offshore industry which reconciles climate benefits, commercial interests, and job creation. "The fact that we have now been granted permission to explore the Bothnian Bay is an important political signal. The purpose of the business is to increase Sweden's and Europe's self-sufficiency in terms of innovation-critical minerals including those needed for the production of batteries and semiconductors,” explains Peter Lindberg. Minimal environmental impact The studies, which have now been approved by the Ministry of Climate and Enterprise, will ensure that future harvesting of the minerals can be carried out in a sustainable and environmentally-friendly way. To succeed, Scandinavian Ocean Minerals is developing a technology that enables gentle uptake, so-called harvesting, of the nodules in a circular process which returns oxygenated water to the bottom. The method is unique and should not be confused with conventional land mining or deep sea mining. "The nodules are extracted using a gentle technique. You could say that we harvest the sea floor with our method, which has less environmental impact than conventional mining," says Bengt Simonsson, research manager at Scandinavian Ocean Minerals. Peter Lindberg, CEO SOM AB peter.lindberg@som-ab.se , +46(0)73-617 95 20 1. On theBothnia Bay seafloor lies small potato-sized lumps – nodules – that contain minerals. In theBaltic Sea lies sediments. 2. Via an air-lift technique, developed by Scandinavian Ocean Minerals, the seafloor is gently harvested for nodules or bottom sediment. 3. On board the ship, nodules are filtered or, if sediment centrifuged 4. Water and material that is not used is returned directly to the seafloor, which becomes oxygenated in the process. 5. Nodules and sediment are transported to land where nodules are refined into, among other things, manganese, iron, silicon (used for batteries, solar cells and semiconductors) while sediment becomes biogas, hydrogen gas or green coal (used for fossil-free steel) .