Convertible Bond Financing 2026

The convertible bond financing in summary

Counterparty

Loft Structured Opportunities Fund I (“Loft Capital”)

Agreement date

11 May 2026

Financing amount

The Company has entered into a convertible bond financing agreement with Loft Capital. The financing is available in several tranches and is intended to support the continued development of Eurobattery Minerals’ projects in Finland and Spain.

Conversion mechanism
Under the Convertible Bond Agreement, the conversion price at each conversion is determined as the lower of:

• A fixed conversion price of SEK 0.35 per share; and
• 100 per cent of the lowest daily volume-weighted average price (VWAP) of the Company’s share during the applicable pricing period.

Conversion Threshold Date

New shares resulting from submitted conversion notices are not registered immediately. Once the aggregate number of shares covered by submitted conversion notices reaches the threshold specified in the agreement (12,500,000 shares), the Company will initiate the corporate actions required to issue and register the new shares.

Facility overview

• Total committed facility: Up to SEK 60 million
• Provider: Loft Structured Opportunities Fund I (“Loft Capital”)
• Structure: Four tranches of SEK 15 million each
• Commitment period: 24 months
• First drawdown: SEK 10 million (11 May 2026)
• Purpose: Project development, working capital and general corporate purposes

Background and rationale

Eurobattery Minerals is developing mining projects in Finland and Spain that focus on critical raw materials essential for the sustainability transition and Europe’s strategic autonomy.

On 11 May 2026, the Company entered into a convertible bond financing agreement with Loft Capital providing access to up to SEK 60 million in committed capital over a period of 24 months.

The financing is intended to support the continued development of the Company’s project portfolio, including the San Juan tungsten project in Galicia, Spain, and the Hautalampi battery mineral project in Finland. The proceeds may also be used for general corporate and working capital purposes.

The financing represents an important step in Eurobattery Minerals’ strategy to advance its projects towards production and strengthen Europe’s domestic supply of critical raw materials. In particular, the facility provides financial flexibility to support the planned development of the San Juan tungsten project while continuing the advancement of the Hautalampi project through the permitting and development phases.

Outstanding conversion notices

Updates regarding submitted conversion notices, conversions and registrations of new shares will be published on this page as they occur. Such updates will be compiled in a downloadable PDF entitled “Conversion Notices – Loft Capital”, which can be found below. This is a living document that will be updated on an ongoing basis, and the date of the latest update will be stated in the PDF.

Latest update of PDF document

15 June 2026

Language versions

Eurobattery Minerals AB publishes information in English, Swedish, and German for the convenience of our shareholders and stakeholders. In the event of any discrepancies or inconsistencies between the language versions, the English version shall prevail.