Gruvaktiebolaget Viscaria (VISC) investor relations material

Project overview and strategic positioning

• Fully permitted, shovel-ready copper project in Kiruna, Sweden, leveraging high-grade mineral resources, existing rail and port infrastructure, and a strategic location near skilled labor.

• All permits are secured, construction and dewatering are underway, and the project has a market cap of SEK 3 billion, led by an experienced management team.

• The operation is powered by fossil-free hydropower, connected by electric rail, and aims for top-tier sustainability and community engagement.

• Among Europe's largest new copper projects, with competitive ore grade and early start date, targeting first production by end of 2027.

• Operator holds key concessions and environmental permits, with 40 employees as of September 2025.

Geological development and resource expansion

• Over 250,000 m of drilling since 2019 increased mineral resources from 52 million to 108 million tons at 0.9% copper, with a mid-term target of 140–160 million tons in 3–5 years.

• Recent exploration added 28.3 million tons of inferred resources in 2024/2025, with step-out drilling confirming high-grade extensions.

• The mine life has extended from 10 to 17 years, with further growth expected as the deposit remains open at depth.

• Four main mineralized zones identified, with multi-commodity potential including iron and silver byproducts.

• District-scale exploration potential, with the main mine site covering just 2% of the permitted area.

Market context and industry outlook

• Global copper demand is projected to grow at 2–2.3% annually until 2040, leading to an 8 million ton deficit.

• Europe faces increasing reliance on imports, intensifying competition for supply.

• Average copper grades have declined 85% over 70 years, and new high-grade discoveries are rare despite increased exploration budgets.

• Enhanced mining and processing techniques are enabling exploitation of lower-grade deposits.

• The project aims to set a benchmark for responsible, modern mining in Europe and is positioned as a key project to help meet Europe's future copper needs.