ENGEBØ RUTILE AND GARNET AS: SUCCESSFULLY COMPLETED TAP ISSUE

Reference is made to notices 25 September 2025 and 8 October 2025 regardingcontemplated USD 22.5 million tap issue.

Engebø Rutile and Garnet AS has today successfully completed the tap issue tothe Engebø Rutile and Garnet AS 12.5% Senior Secured Bonds 2022/2027 with ISINNO0012734112 priced at 98.00% of par. The total outstanding amount under theBonds following the tap issue is USD 155.5 million.

Clarksons Securities acted as Bookrunner for the tap issue.

Oslo, 15 October, 2025 Engebø Rutile and Garnet AS

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