New Risk • May 12
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -kr81m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr81m free cash flow). Earnings have declined by 19% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (kr275.7m market cap, or US$29.7m). New Risk • Jan 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 9.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr50m free cash flow). Earnings have declined by 18% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Market cap is less than US$100m (kr283.9m market cap, or US$32.0m). New Risk • Nov 26
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -kr50m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr50m free cash flow). Earnings have declined by 18% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (kr357.2m market cap, or US$37.5m). New Risk • Aug 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Swedish stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (kr345.0m market cap, or US$36.1m). New Risk • Jun 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 9.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (9.5% average weekly change). Market cap is less than US$100m (kr224.1m market cap, or US$23.6m). Announcement • May 23
Nordic Iron Ore AB (publ), Annual General Meeting, Jun 26, 2025 Nordic Iron Ore AB (publ), Annual General Meeting, Jun 26, 2025, at 16:00 W. Europe Standard Time. Location: at the grekiska grill & bar restaurant, kajvagen 13, ludvika Sweden Announcement • Jan 13
Nordic Iron Ore AB (publ) to Report Q4, 2025 Results on Feb 20, 2026 Nordic Iron Ore AB (publ) announced that they will report Q4, 2025 results on Feb 20, 2026 Announcement • Jan 03
Nordic Iron Ore Appoints Ylva Wård as Director EHSQ & HR, Effective No Later Than March 17, 2025 Nordic Iron Ore AB has appointed Ylva Wård as Director EHSQ & HR. Ylva has many years of experience as a manager in the environmental and sustainability sector. She comes from the role of Head of Environment and Sustainability at Engebø Rutile & Garnet, Nordic Mining, and has also previously held a similar role at Sydvaranger AS. The position of Director EHSQ & HR reports to the Company's CEO. Ylva Wård has been appointed Director EHSQ & HR. The position includes responsibility for and management of the operations of the Company's unit for EHSQ & HR issues, including personnel and supervisor responsibility for its own staff and consultants, as well as creating and implementing policies, procedures and reporting to ensure that the Company complies with laws and regulations within the environment, health, safety, quality and labour law. Furthermore, in consultation with the CEO, to be responsible for contacts with the supervisory authority on issues that deal with the environment, health and safety, as well as to ensure necessary reporting to authorities, certifications and follow up standards with regard to the environment, health, safety and quality. Ylva Wård will take up her position as soon as possible, but no later than March 17, 2025. Announcement • Nov 21
Nordic Iron Ore AB (publ) to Report Fiscal Year 2024 Results on Apr 28, 2025 Nordic Iron Ore AB (publ) announced that they will report fiscal year 2024 results on Apr 28, 2025 New Risk • Nov 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 5.1% per year over the past 5 years. Shareholders have been substantially diluted in the past year (83% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$100m (kr321.9m market cap, or US$29.9m). New Risk • Sep 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Shareholders have been substantially diluted in the past year (83% increase in shares outstanding). Minor Risk Market cap is less than US$100m (kr273.0m market cap, or US$26.8m). Board Change • Sep 10
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Chairman Bengt Nilsson was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Jul 13
Nordic Iron Ore AB (publ) to Report Q4, 2024 Results on Feb 20, 2025 Nordic Iron Ore AB (publ) announced that they will report Q4, 2024 results on Feb 20, 2025 New Risk • Jul 06
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 83% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 3.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (83% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Market cap is less than US$100m (kr343.0m market cap, or US$32.7m). New Risk • Mar 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 9.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr10m free cash flow). Earnings have declined by 1.7% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (9.7% average weekly change). Market cap is less than US$100m (kr233.2m market cap, or US$22.8m). Announcement • Feb 29
Nordic Iron Ore AB (publ) Appoints Ulf Kasshag as CFO, Effective March 1, 2024 Nordic Iron Ore AB (publ) has appointed Ulf Kasshag as the company's new CFO. Ulf Kasshag, born 1959, has extensive experience of controlling, accounting, reporting and finance, and has had the role as CFO at several fast-growing international companies, most recently at Findity AB. He will be responsible for building Nordic Iron Ore's finance function, including recruitment, and to ensure implementation of necessary routines and processes that facilitate controlling now that the organization will be scaled up. Ulf Kasshag will begin in the role as CFO of the company on March 1, 2024. Announcement • Jan 24
Nordic Iron Ore's Application for Additional Exploration Permit at Blötberget is Approved Nordic Iron Ore AB has received an approval from Bergsstaten on its application for an additional exploration permit in the proximity of Blötberget. The reason for the application is that initial exploration has given very positive signals. A successful exploration of the area could potentially increase Nordic Iron Ore's mineral resources. Through Nordic Iron Ore's own exploration work and its participation in the EU-financed project Smart Exploration, knowledge has increased of the geology in the area. In addition to Smart Exploration's measures, performed magnetic measurements indicate that the mineralization in Blötberget continues to the north-east which makes the area very interesting for continued exploration. Now that Bergsstaten has approved the application for the exploration permit, the company plans to initiate further exploration of the area. New Risk • Nov 24
New major risk - Revenue and earnings growth Earnings have declined by 0.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr13m free cash flow). Earnings have declined by 0.5% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (kr336.4m market cap, or US$32.2m). New Risk • Aug 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 9.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr16m free cash flow). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (9.6% average weekly change). Market cap is less than US$100m (kr430.8m market cap, or US$40.6m). Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Director Timo Lindborg was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Director Timo Lindborg was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Feb 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Director Timo Lindborg was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Is New 90 Day High Low • Mar 03
New 90-day high: kr3.61 The company is up 47% from its price of kr2.45 on 03 December 2020. The Swedish market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 19% over the same period. Is New 90 Day High Low • Feb 08
New 90-day high: kr3.22 The company is up 31% from its price of kr2.45 on 10 November 2020. The Swedish market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 13% over the same period. Is New 90 Day High Low • Nov 24
New 90-day high: kr3.19 The company is up 37% from its price of kr2.33 on 26 August 2020. The Swedish market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 9.0% over the same period. 