Nordic Iron Ore AB prolongs the short-term loan facilities

During 2021 and 2022 Nordic Iron Ore AB has taken up loan facilities of SEK 15.5 million from the Company's three largest owners Bengtssons Tidnings AB, Ludvika Holding AB and Kopparinvest AB as well as the company's board member Timo Lindborg via company.

The motivation for the facilities was to provide working capital for evaluating of the Company's financing options. The evaluation on financing options as well as the negotiations with Cargill is progressing and therefore the facilities has now been extended by three months to run through March 2023.

Summary of the terms of the loan facilities:
• Loan agreement for a total of SEK 15.5 million
• The loans run with an annual interest of 8 percent on the amount used
• The loans run until March 31, 2023

The board has made the assessment that the terms of the loans are in line with market conditions.