On July 3, 2025, Teako Minerals entered into a strategic collaboration with Treschow-Fritzøe AS — through its wholly owned subsidiary, Fritzøe Skoger AS — involving the sale of four exploration projects comprising nine licenses (see press release). These projects are prospective for rare earth elements (REE), phosphate, iron, and titanium, and are located near Fensfeltet in southern Norway — home to Europe’s largest proven REE deposit.

As part of the agreement, Teako retains a 10% economic interest in the proceeds from any future sale (direct or indirect) of the projects. In relation to the exploration licenses, Teako was also appointed as Fritzøe’s preferred provider of exploration services for a period of 36 months. This arrangement is expected to create a potential revenue stream for Teako, strategically supporting the advancement of the Company’s core exploration assets.

Treschow-Fritzøe is among the oldest and most traditional companies in Norway. Its wholly owned subsidiary, Fritzøe Skoger AS, stands as one of Norway’s largest landowners and controls the land where the Properties are situated. Treschow-Fritzøe’s diverse portfolio includes operations across forestry and natural resources, property management and development, stone industry, building materials distribution, renewable energy, and capital management. For more information about Fritzøe, please visit: https://www.fritzoe.no/