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) .

Our ambition is to harvest for mineral-rich nodules on the seafloor in Bothnian Bay – and in the Baltic Sea we will harvest for sediment that can be used for green energy. About us The mission of Scandinavian Ocean Minerals is to meet the future needs of the green economy with gentle harvesting of ocean resources. We intend to do this by harvesting for mineral-rich nodules on the seafloor in Bothnian Bay. The nodules contain minerals that are critical for the green transition. In the Baltic Sea we will harvest for sediment that can be used for green energy. In both cases we oxygenate the seafloor in the process, which counteracts acidification. This is how we do it: Sustainable Source of Critical Minerals Critical raw materials are the foundation of Europe's industrial strength. Without stable access to these resources, both climate goals and Europe's strategic independence are at risk. The steel industry – the backbone of infrastructure, energy systems, and defense – is particularly dependent on metals such as manganese and iron. These are currently classified as critical or strategic raw materials by the EU. Scandinavian Ocean Minerals is working to meet this need by developing a new, European, and sustainable source of critical minerals for, among other things, the steel industry. By extracting and further processing manganese-rich nodules from the Bothnian Bay, we can offer an environmentally friendly alternative to today’s high dependency on imports. The EU's new Critical Raw Materials Act (CRMA) aims to increase Europe's self-sufficiency, strengthen its strategic capacity, and promote sustainable extraction within the union. Scandinavian Ocean Minerals' operations align with these goals. We contribute to: · Reduced import dependency on critical raw materials. · Strengthened European supply security for the steel industry. · Sustainable and environmentally controlled extraction in one of the world's most regulated maritime areas. Scandinavian Ocean Minerals also plans to extract organic sediment from the bottom of the Baltic Sea. This method both reduces eutrophication and enables the production of green coal, a renewable reducing agent for the metal industry. This means that we not only provide raw materials to the green industry – we simultaneously improve environmental conditions in one of the world’s most stressed inland seas. By combining raw material supply, climate benefits, and marine environmental improvement, Scandinavian Ocean Minerals is creating a new type of industrial solution. Resources are sourced responsibly, processed close to the market, and contribute to both ecological and economic sustainability. We are convinced that future raw material supply must be both sustainable and green. Scandinavian Ocean Minerals is ready to become a key player in Europe's climate transition, supply preparedness – and the recovery of the Baltic Sea. 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.

Our ambition is to harvest for mineral-rich nodules on the seafloor in Bothnian Bay – and in the Baltic Sea we will harvest for sediment that can be used for green energy. Healthy oceans in close harmony with green economy A brief note from our CEO Take a look at what we’re doing in the Bothnian Bay Swedish TV accompanied Scandinavian Ocean Minerals on one of our surveys. See feature here > Take a look at what we’re doing in the Bothnian Bay Deep Sea Reporter joined us on a hunt for nodules. Watch the report here > Deep Sea Reporter joined us on a hunt for nodules. Watch the report here > Scandinavian Ocean Minerals on Swedish TV Swedish Radio on our plans Great to see that more media outlets are starting to take an interest in us. Listen to the segment on Swedish Radio here > News Our projects Scandinavian Ocean Minerals are operating in two different projects: Bothnian Bay and the Baltic Sea. In both projects we use our own developed air-lift technique, but the difference is that in Bothnian Bay, where we have come the furthest, we are harvesting for poly-metalic nodules while we at the Baltic Sea harvest for sediments refined into green energy. In both projects the seafloor is oxygenated in the process. Nodules in Bothnian Bay > Green energy in Baltic Sea > News We can contribute to a safer Europe CEO Peter Lindberg in Dagens industri about the EU's dangerous import dependency. Full text here > Our projects Scandinavian Ocean Minerals are operating in two different projects: Bothnian Bay and the Baltic Sea. In both projects we use our own developed air-lift technique, but the difference is that in Bothnian Bay, where we have come the furthest, we are harvesting for poly-metalic nodules while we at the Baltic Sea harvest for sediments refined into green energy. In both projects the seafloor is oxygenated in the process. Nodules in Bothnian Bay > Green energy in Baltic Sea > Overall trends affecting society: The environmental challenges we face is one of the major global mega trends. There is a strong global commitment to find and support solutions, not least by the UN global goals. One solution to meet the goals is the electric energy transition – the second macro trend. The third trend is the geopolitical shift towards self-sufficiency to find alternative solutions to access necessary materials. The fourth trend is the green industrial revolution . Partners

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. The method can help the Baltic Sea to recover The method of harvesting nodules can also be used to help restore the Baltic Sea, where the situation with oxygen-free and polluted sea floor is acute. By removing the polluted bottom-sediments the source of eutrophication is diminished and simultaneously the sea floor is oxygenated. From the removed sediments different products can be produced such as: green carbon and silicon (Si), important for fossil-free steelmaking, semi-conductors, electronics- and solar cell industry. The exploration permit allows for bottom-samples to be taken at 25 different points within the operational areas, although this will not include significant uptake of nodules. In the two areas, approximately 450 km2, it is expected that 6-9 million tonnes of poly-metallic nodules will be found. The nodules consists of 27 different minerals and 90 percent of the mineral content can be extracted. In addition to high levels of pure iron, manganese, silicon and phosphorus, there is, also enough cobalt to reduce Sweden's import needs by 70 percent annually. The project increases EU:s degree of self-sufficiency in innovation-critical minerals and reduces the need for imports from authoritarian states (European critical raw materials act). 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) .

Our ambition is to harvest for mineral-rich nodules on the seafloor in Bothnian Bay. Nodules in Bothnian Bay The polymetallic manganese nodules are rock-like, concretions formed by precipitation on the seabed and are found throughout the Baltic Sea. It is estimated that Bothnian Bay in total contain approximately 20 million tons of manganese nodules. The nodules can be refined into: Manganese used in batteries Iron for high quality steel products Silicon used in solar cells and semiconductors Other subjects used for different electronical and medical components 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) .

Our ambition is to harvest for mineral-rich nodules on the seafloor in Bothnian Bay – and in the Baltic Sea we will harvest for sediment that can be used for green energy. We are operation in two different projects:The Gulf of Bothnia and Baltic Sea . 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) .

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) .

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) .