NORTHERN DYNASTY MINERALS LT

Ticker: NAK CUSIP: 66510M204 Class: Equities

Kopernik Global Investors, LLC's Holding History (CIK: 0001599814)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 21,661,178 Value ($000) $42,673 Avg Close $1.93 Range $1.13 - $2.98

Q3 2025

Shares 21,661,178 Value ($000) $25,993 Avg Close $1.07 Range $0.73 - $2.40

Q2 2025

Shares 19,666,067 Value ($000) $26,353 Avg Close $1.12 Range $0.79 - $1.59

Q1 2025

Shares 19,666,067 Value ($000) $22,616 Avg Close $0.73 Range $0.55 - $1.29

Q4 2024

Shares 31,470,739 Value ($000) $18,300 Avg Close $0.45 Range $0.30 - $0.58

Q3 2024

Shares 32,070,691 Value ($000) $10,631 Avg Close $0.35 Range $0.29 - $0.42

Q2 2024

Shares 32,070,691 Value ($000) $9,958 Avg Close $0.30 Range $0.27 - $0.37

Q1 2024

Shares 32,070,691 Value ($000) $10,198 Avg Close $0.28 Range $0.23 - $0.42

Q4 2023

Shares 32,070,691 Value ($000) $10,368 Avg Close $0.33 Range $0.29 - $0.41

Q3 2023

Shares 32,070,691 Value ($000) $10,429 Avg Close $0.28 Range $0.23 - $0.43

Q2 2023

Shares 32,070,691 Value ($000) $7,697 Avg Close $0.23 Range $0.21 - $0.29

Q1 2023

Shares 32,070,691 Value ($000) $7,658 Avg Close $0.23 Range $0.21 - $0.27

Q4 2022

Shares 32,005,333 Value ($000) $7,067 Avg Close $0.24 Range $0.21 - $0.28

Q3 2022

Shares 31,856,624 Value ($000) $7,776 Avg Close $0.28 Range $0.23 - $0.36

Q2 2022

Shares 31,856,624 Value ($000) $8,302 Avg Close $0.33 Range $0.25 - $0.46

Q1 2022

Shares 31,856,624 Value ($000) $13,220 Avg Close $0.35 Range $0.29 - $0.51

Q4 2021

Shares 31,856,624 Value ($000) $10,392 Avg Close $0.40 Range $0.32 - $0.54

Q3 2021

Shares 27,695,248 Value ($000) $12,723 Avg Close $0.44 Range $0.37 - $0.62

Q2 2021

Shares 27,695,248 Value ($000) $13,626 Avg Close $0.56 Range $0.47 - $0.70

Q1 2021

Shares 26,781,401 Value ($000) $16,979 Avg Close $0.65 Range $0.32 - $1.15

Q4 2020

Shares 26,079,606 Value ($000) $8,398 Avg Close $0.72 Range $0.31 - $1.26

Q3 2020

Shares 21,591,412 Value ($000) $21,168 Avg Close $1.37 Range $0.58 - $2.49

Q2 2020

Shares 14,605,876 Value ($000) $20,886 Avg Close $0.93 Range $0.38 - $1.53

Q1 2020

Shares 17,853,724 Value ($000) $6,874 Avg Close $0.47 Range $0.35 - $0.71

Q4 2019

Shares 18,314,510 Value ($000) $7,839 Avg Close $0.52 Range $0.38 - $0.66

Q3 2019

Shares 8,742,118 Value ($000) $5,136 Avg Close $0.64 Range $0.46 - $0.95

Q2 2019

Shares 8,742,118 Value ($000) $5,263 Avg Close $0.52 Range $0.41 - $0.66

Q1 2019

Shares 7,872,413 Value ($000) $4,763 Avg Close $0.78 Range $0.57 - $1.12

Q4 2018

Shares 5,197,525 Value ($000) $2,958 Avg Close $0.60 Range $0.43 - $0.84

Q3 2018

Shares 5,197,525 Value ($000) $2,911 Avg Close $0.54 Range $0.48 - $0.68

Q2 2018

Shares 4,864,628 Value ($000) $2,635 Avg Close $0.72 Range $0.43 - $1.00

Q1 2018

Shares 4,250,127 Value ($000) $3,851 Avg Close $1.20 Range $0.81 - $1.86

Q4 2017

Shares 3,088,909 Value ($000) $5,467 Avg Close $1.98 Range $1.63 - $2.34

Q3 2017

Shares 3,088,909 Value ($000) $5,560 Avg Close $1.58 Range $1.21 - $1.99

Q2 2017

Shares 3,088,909 Value ($000) $4,293 Avg Close $1.60 Range $1.21 - $2.42

Q1 2017

Shares 3,088,909 Value ($000) $4,417 Avg Close $2.05 Range $1.06 - $3.45

Q4 2016

Shares 6,516,239 Value ($000) $13,489 Avg Close $1.16 Range $0.54 - $2.50

Q3 2016

Shares 6,465,563 Value ($000) $4,591 Avg Close $0.68 Range $0.30 - $1.16

Q2 2016

Shares 6,465,563 Value ($000) $2,005 Avg Close $0.35 Range $0.28 - $0.48

Q1 2016

Shares 6,591,473 Value ($000) $2,110 Avg Close $0.31 Range $0.20 - $0.39

Q4 2015

Shares 6,591,473 Value ($000) $2,025 Avg Close $0.34 Range $0.28 - $0.44

Q3 2015

Shares 6,591,473 Value ($000) $2,039 Avg Close $0.35 Range $0.28 - $0.53

Q2 2015

Shares 6,591,473 Value ($000) $2,242 Avg Close $0.38 Range $0.30 - $0.45

Q1 2015

Shares 6,519,135 Value ($000) $2,517 Avg Close $0.45 Range $0.36 - $0.72

Q4 2014

Shares 6,411,620 Value ($000) $2,600 Avg Close $0.41 Range $0.32 - $0.59

Q3 2014

Shares 6,209,318 Value ($000) $3,395 Avg Close $0.73 Range $0.52 - $0.89

Q2 2014

Shares 4,773,507 Value ($000) $3,995 Avg Close $0.79 Range $0.61 - $1.01

Q1 2014

Shares 3,999,325 Value ($000) $3,919 Avg Close $1.24 Range $0.80 - $1.70

Q4 2013

Shares 2,148,993 Value ($000) $2,751 Avg Close $1.33 Range $1.00 - $1.93

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	21,661,178	$42,673	$1.93	$1.13 - $2.98
Q3 2025	21,661,178	$25,993	$1.07	$0.73 - $2.40
Q2 2025	19,666,067	$26,353	$1.12	$0.79 - $1.59
Q1 2025	19,666,067	$22,616	$0.73	$0.55 - $1.29
Q4 2024	31,470,739	$18,300	$0.45	$0.30 - $0.58
Q3 2024	32,070,691	$10,631	$0.35	$0.29 - $0.42
Q2 2024	32,070,691	$9,958	$0.30	$0.27 - $0.37
Q1 2024	32,070,691	$10,198	$0.28	$0.23 - $0.42
Q4 2023	32,070,691	$10,368	$0.33	$0.29 - $0.41
Q3 2023	32,070,691	$10,429	$0.28	$0.23 - $0.43
Q2 2023	32,070,691	$7,697	$0.23	$0.21 - $0.29
Q1 2023	32,070,691	$7,658	$0.23	$0.21 - $0.27
Q4 2022	32,005,333	$7,067	$0.24	$0.21 - $0.28
Q3 2022	31,856,624	$7,776	$0.28	$0.23 - $0.36
Q2 2022	31,856,624	$8,302	$0.33	$0.25 - $0.46
Q1 2022	31,856,624	$13,220	$0.35	$0.29 - $0.51
Q4 2021	31,856,624	$10,392	$0.40	$0.32 - $0.54
Q3 2021	27,695,248	$12,723	$0.44	$0.37 - $0.62
Q2 2021	27,695,248	$13,626	$0.56	$0.47 - $0.70
Q1 2021	26,781,401	$16,979	$0.65	$0.32 - $1.15
Q4 2020	26,079,606	$8,398	$0.72	$0.31 - $1.26
Q3 2020	21,591,412	$21,168	$1.37	$0.58 - $2.49
Q2 2020	14,605,876	$20,886	$0.93	$0.38 - $1.53
Q1 2020	17,853,724	$6,874	$0.47	$0.35 - $0.71
Q4 2019	18,314,510	$7,839	$0.52	$0.38 - $0.66
Q3 2019	8,742,118	$5,136	$0.64	$0.46 - $0.95
Q2 2019	8,742,118	$5,263	$0.52	$0.41 - $0.66
Q1 2019	7,872,413	$4,763	$0.78	$0.57 - $1.12
Q4 2018	5,197,525	$2,958	$0.60	$0.43 - $0.84
Q3 2018	5,197,525	$2,911	$0.54	$0.48 - $0.68
Q2 2018	4,864,628	$2,635	$0.72	$0.43 - $1.00
Q1 2018	4,250,127	$3,851	$1.20	$0.81 - $1.86
Q4 2017	3,088,909	$5,467	$1.98	$1.63 - $2.34
Q3 2017	3,088,909	$5,560	$1.58	$1.21 - $1.99
Q2 2017	3,088,909	$4,293	$1.60	$1.21 - $2.42
Q1 2017	3,088,909	$4,417	$2.05	$1.06 - $3.45
Q4 2016	6,516,239	$13,489	$1.16	$0.54 - $2.50
Q3 2016	6,465,563	$4,591	$0.68	$0.30 - $1.16
Q2 2016	6,465,563	$2,005	$0.35	$0.28 - $0.48
Q1 2016	6,591,473	$2,110	$0.31	$0.20 - $0.39
Q4 2015	6,591,473	$2,025	$0.34	$0.28 - $0.44
Q3 2015	6,591,473	$2,039	$0.35	$0.28 - $0.53
Q2 2015	6,591,473	$2,242	$0.38	$0.30 - $0.45
Q1 2015	6,519,135	$2,517	$0.45	$0.36 - $0.72
Q4 2014	6,411,620	$2,600	$0.41	$0.32 - $0.59
Q3 2014	6,209,318	$3,395	$0.73	$0.52 - $0.89
Q2 2014	4,773,507	$3,995	$0.79	$0.61 - $1.01
Q1 2014	3,999,325	$3,919	$1.24	$0.80 - $1.70
Q4 2013	2,148,993	$2,751	$1.33	$1.00 - $1.93