Announcement PDF Consolidated Interim Financial Report Half Year ended 31 December 2025 Hastings Technology Metals Ltd ASX: HAS | hastingstechmetals.com| ACN 122 911 399 Directors Charles Lew Executive Chairman Guy Robertson Executive Director Jean Claude Steinmetz Non-Executive Director Malcolm Randall Non-Executive Director Company Secretary Guy Robertson Principal Place of Business and Registered Office Address: Level 3, 5 Mill Street, Perth, Western Australia 6000 Phone: +61 8 6117 6118 Website: www.hastingstechmetals.com Email: info@hastingstechmetals.com Auditors RSM Australia, Level 32 Exchange Tower, 2 The Esplanade, Perth WA 6000 Bankers National Australia Bank, 100 St Georges Terrace, Perth Western Australia 6000 Westpac Banking Corporation, 109 St Georges Terrace, Perth Western Australia 6000 Share Registry Automic Group, Level 5, 191 St Georges Terrace, Perth, Western Australia 6000 Home Exchange Australian Securities Exchange Limited, Level 40, Central Park, 152-158 St Georges Terrace, Perth, Western Australia 6000 ASX Code ASX:HAS CORPORATE DIRECTORY Consolidated Interim Financial Report 2025 | 1 Directors’ Report ______________________________________________________________________ 2 Auditor’s Independence Declaration ___________________________________________________ 7 Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income____ 8 Condensed Consolidated Statement of Financial Position _____________________________ 9 Condensed Consolidated Statement of Changes in Equity ____________________________ 10 Condensed Consolidated Statement of Cash Flows ___________________________________ 11 Notes to the Condensed Consolidated Financial Statements _________________________ 12 Directors’ Declaration ________________________________________________________________ 25 Independent Auditor’s Review Report ________________________________________________ 26 Tenement Schedule___________________________________________________________________ 28 Contents 2 | Hastings Technology Metals Mr Charles Lew Executive Chairman Mr Guy Robertson Executive Director/ Company Secretary Mr Malcolm Randall Independent Non- Executive Director Mr Jean Claude Steinmetz Independent Non- Executive Director The Directors of Hastings Technology Metals Ltd (“Hastings” or the “Company”) submit this interim financial report of the consolidated entity consisting of Hastings and the entities it controlled during the period (the “Group”) for the half year ended 31 December 2025. Pursuant to the provisions of the Corporations Act 2001, the Directors report as follows. REVIEW OF OPERATIONS Yangibana Rare Earths and Niobium Project During the half-year ended 31 December 2025, the Group completed the transaction with Wyloo in relation to the Yangibana Rare Earths and Niobium Project (Yangibana Project). Completion occurred on 21 September 2025 upon execution of the Unincorporated Joint Venture Agreement, resulting in Wyloo acquiring a 60% participating interest and the Group retaining a 40% participating interest in the Yangibana Project. The Project is now operated through an unincorporated joint venture structure, being a contractual arrangement between the participants rather than a separate legal entity. These interests relate to the Yangibana Project only and do not represent any equity interest in Hastings Technology Metals Ltd. Under the joint operation structure, Wyloo was appointed manager with responsibility for day-to-day project activities. The Group participates in joint operation governance and funds its proportionate share of project expenditure through the agreed cash call process. In addition, marketing and commercial activities are jointly decided through the same operating entity. Project-related activities during the half-year were undertaken within this joint operation framework. The Group continued to incur its share of construction and development expenditure and exploration and evaluation activities attributable to its retained 40% interest. Completion of the transaction represented a significant change in the Group’s state of affairs, transitioning the Yangibana Project from a wholly owned development asset to a jointly managed project under the UJV structure. DIRECTORS The names of Directors who held office during or since the end of the interim period and to the date of this report are as follows. Directors were in office for this entire period unless otherwise stated. Directors’ Report Consolidated Interim Financial Report 2025 | 3 Brockman Heavy Rare Earths Project The Group holds a 100% interest in the Brockman Heavy Rare Earths and Niobium Project located approximately 18 kilometres south-east of Halls Creek in the Kimberley region of Western Australia. The project hosts mineralisation within the Niobium Tuff unit and contains heavy rare earth elements, including dysprosium and yttrium, together with niobium and zirconium. During the half-year, the Group undertook technical studies in relation to the Brockman Project to assess development pathways and potential future work programs. The outcomes of these studies are being reviewed and will inform the timing and scope of future activities at the project. Whiteheads Gold Project and Gold Asset Divestment On 21 August 2025, the Group acquired 100% of the shares in Great Western Gold Pty Ltd, which held the Whiteheads Gold Project (“Whiteheads”). On 5 December 2025, the Group disposed of its entire gold portfolio, namely Whiteheads, Ark and Darcy gold assets to Metal Bank Limited (“MBK”). Consideration for the transaction was satisfied through the issue to Hastings of 160,022,264 ordinary shares in Metal Bank Limited, which had a fair value of $3.2 million at the date of disposal. On 11 December 2025, the Group completed a pro-rata in-specie return of capital to shareholders through the distribution of the Metal Bank Limited shares to shareholders on the register as at 4 December 2025. These transactions resulted in the Group exiting its gold asset exposure during the half-year and further focusing its portfolio on its rare earths interests. CORPORATE During the half-year, the Group issued ordinary shares to raise approximately $6.6 million (before costs) to support corporate and project-related expenditure. Share issue costs were recognised in accordance with accounting standards. The Group also continued to manage its existing funding arrangements during the period. Completion of the Yangibana joint venture transaction and cancellation of the Exchangeable Notes materially altered the Group’s capital structure during the half-year. DIVIDENDS No dividends have been paid or declared since the start of the interim period and the Directors do not recommend the payment of a dividend in respect of the interim period. OPERATING RESULTS FOR THE HALF YEAR The total comprehensive gain of the Group for the half-year ended 31 December 2025, after income tax, amounted to $2,195,099 (31 December 2024: total comprehensive loss of $165,151,705). The Group recorded a net loss after tax of $2,210,478 (31 December 2024: $164,107,405). The prior corresponding period was materially impacted by significant impairment charges and finance costs associated with the Exchangeable Notes. Other income for the period totalled $118,693 (31 December 2024: $2,096,132), reflecting lower dividend income following disposal of the investment in Neo Performance Materials Inc and reduced interest income. During the half-year, the Group recognised a net gain on disposal of assets of $812,203 and a net fair value gain on financial assets at fair value through profit or loss of $160,022, arising from the disposal of the Whiteheads, Ark and Darcy gold assets with 60% of Yangibana and subsequent distribution of the consideration shares. Impairment reversals were recognised during the period in respect of exploration and evaluation expenditure and property, plant and equipment, following completion of the Yangibana joint venture transaction and reassessment of the recoverable amount of the retained 40% interest. In contrast, the prior corresponding period included significant impairment charges relating to the Yangibana Project cash generating unit. Finance costs for the period were $548,357 (31 December 2024: $19,881,288). The reduction reflects the cancellation of the Exchangeable Notes during the half-year and the absence of borrowing costs previously associated with those notes. 4 | Hastings Technology Metals 4 | Hastings Technology Metals REVIEW OF FINANCIAL CONDITIONS As at 31 December 2025, the Group held cash and cash equivalents of $4,925,067 (30 June 2025: $688,219). Net cash used in operating activities for the half-year was $3,737,761, primarily reflecting corporate and project-related expenditure. Net cash provided by investing activities was $9,540,938, largely due to proceeds from asset disposals and financial asset sales, partially offset by exploration and capital expenditure. Net cash used in financing activities was $1,554,980 and included proceeds from share issues and repayment of borrowings. Total assets at 31 December 2025 were $104,591,712 (30 June 2025: $222,767,205). The decrease reflects completion of the Yangibana joint venture transaction and derecognition of assets previously classified as held for sale. Total liabilities reduced to $12,346,965 (30 June 2025: $137,259,139), primarily due to cancellation of the Exchangeable Notes upon completion of the joint venture transaction. The Group was in a net current asset position of $3,850,409 at 31 December 2025 (30 June 2025: $653,035). GOING CONCERN For the half year ended 31 December 2025, the Group recorded a net loss of $2,210,478 (31 December 2024: net loss of $164,107,405) and had net cash outflows from operating activities of $3,737,761 (31 December 2024: $4,919,876). Furthermore, the Group completed the Yangibana Joint Venture ("UJV") transaction with Wyloo on 21 September 2025, including settlement of the cash payment of $7,363,068 which was payable within 45 days of completion. The Group had $4,925,067 in cash and cash equivalents as at 31 December 2025 (30 June 2025: $688,219). The Group will need to secure additional funding to meet forecasted corporate and project-related expenditure and to support progression of the Yangibana Project toward a final investment decision ("FID") during the next 12 months. As at 31 December 2025, the Group was in a net current asset position of $3,850,409 (30 June 2025: $653,035). The prior period net current asset position largely comprised Exchangeable Notes of $123,259,272 classified as current liabilities and assets held for sale of $118,037,532 classified as current assets. Following completion of the UJV transaction, the Exchangeable Notes were cancelled and the 60% interest in the Yangibana Project was transferred to the joint venture entity. The UJV parties expect to procure project funding together (target minimum gearing 50%). The UJV transaction reduces the Group’s final equity contribution to approximately $32 million assuming a 50:50 project gearing structure ($13 million assuming 60:40 gearing). The bankability of the Yangibana Project has improved through the UJV structure, which is likely to lead to improved financing terms. With its minority shareholding of 40%, the Group has significantly reduced its funding obligations in terms of both debt and equity. The Group and Wyloo are working collaboratively to secure project funding and progress the Yangibana Project toward a Final Investment Decision as quickly as practicable. Both parties are aligned in their objectives and are actively advancing the workstreams required to enable FID. Final equity contributions will only be required following a positive Final Investment Decision. Consolidated Interim Financial Report 2025 | 5 Consolidated Interim Financial Report 2025 | 5 As the Group will need to undertake interim capital raisings for expenditures as is customary for pre-production companies, a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern, and therefore, the Group may be unable to realise its assets and discharge its liabilities in the normal course of business. However, the Directors believe that there are reasonable grounds that the use of the going concern basis remains appropriate as the Board raises funds via equity capital raisings including share purchase plans, entitlement offers/rights issues and placements. Key considerations in forming this view were: • There is a demonstrated historical track record (since 2014) of the Group raising new capital to advance the Yangibana Project, noting that the Company has raised over $430 million (net of fees) to date, including capital raisings of $2.6 million (net of fees) in March 2025 and additional equity proceeds of approximately $6.1 million (net of fees) during the half year ended 31 December 2025. • The Group is in ongoing discussions with investment banks and stock broking firms who have expressed interest in supporting future capital raisings, which the Group plans to undertake in the next 12 months. These proposals outline potential structures for raising additional equity capital, including placements to institutional investors and participation from the Group’s existing shareholder base. • The Group entered into the UJV with Wyloo to broaden its funding options, leveraging Wyloo's position as a private investor focused on critical minerals and energy transition. • The Yangibana Project, under Wyloo’s management is progressing on updating the Definitive Feasibility Study for the purposes of, inter alia, refreshing the project’s capital expenditure and operational expenditure prior to further engagement with prospective financiers. • The Group is in discussions with international counterparties regarding potential strategic partnerships and funding arrangements that contemplate both debt and equity funding for Yangibana Stage 1 and Stage 2. • In October 2025, the Group and its joint venture partner Wyloo entered into a non-binding Heads of Agreement with Ucore Rare Metals Inc. for the potential supply of up to 37,000 tonnes per annum of rare earth concentrate. The arrangement also contemplates evaluation of a hydrometallurgical processing facility in Louisiana, USA, providing a potential pathway into the North American supply chain and supporting the project's access to North American capital markets and potential government-supported financing initiatives. The financial report does not include any adjustments relating to the amounts or classifications of recorded assets and liabilities that might be necessary if the Group does not continue as a going concern. 6 | Hastings Technology Metals SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS During the half-year ended 31 December 2025, the Group completed the transaction with Wyloo in relation to the Yangibana Project, resulting in the disposal of a 60% interest and the establishment of a joint operation. The accounting impacts of this transaction are reflected across the assets held for sale, deferred exploration and evaluation expenditure and property, plant and equipment notes. SIGNIFICANT EVENTS AFTER BALANCE SHEET DATE There are no matters or circumstances that have arisen since the end of the financial period that have significantly affected or may significantly affect the operations of the consolidated entity, the results of those operations, or state of affairs of the consolidated entity in future financial periods. AUDITORS INDEPENDENCE AND NON-AUDIT SERVICES Section 307C of the Corporations Act 2001 requires our auditors, RSM Australia, to provide the Directors of the Company with an Independence Declaration. This Independence Declaration is set out on page 7 and forms part of this Directors’ report for the interim period ended 31 December 2025. Signed in accordance with a resolution of the Directors. Charles Lew Executive Chairman 13 March 2026 6 | Hastings Technology Metals Consolidated Interim Financial Report 2025 | 7 Consolidated Interim Financial Report 2025 | 7 RSM Australia Partners is a member of the RSM network and trades as RSM. RSM is the trading name used by the members of the RSM network. Each member of the RSM network is an independent accounting and consulting firm which practices in its own right. The RSM network is not itself a separate legal entity in any jurisdiction. RSM Australia Partners ABN 36 965 185 036 Liability limited by a scheme approved under Professional Standards Legislation RSM Australia Partners Level 32 Exchange Tower, 2 The Esplanade Perth WA 6000 GPO Box R1253 Perth WA 6844 T +61 (0) 8 9261 9100 www.rsm.com.au AUDITOR’S INDEPENDENCE DECLARATION As lead auditor for the review of the financial report of Hastings Technology Metals Ltd for the half-year ended 31 December 2025, I declare that, to the best of my knowledge and belief, there have been no contraventions of: (i) the auditor independence requirements of the Corporations Act 2001 in relation to the review; and (ii) any applicable code of professional conduct in relation to the review. RSM AUSTRALIA Perth, WA TUTU PHONG Dated: 13 March 2026 Partner 8 | Hastings Technology Metals Notes Consolidated 31 Dec 2025 $ 31 Dec 2024 $ Continuing operations Other income 3 118,693 2,096,132 Gain on disposal of assets 2,8 812,203 - Net fair value gain on financial assets at FVTPL 160,022 - Administration expenses (496,598) (419,730) Consulting and professional fees (591,621) (694,366) Depreciation – plant and equipment (75,201) (126,764) Depreciation – right-of-use assets (131,719) (223,380) Directors’ fees (409,785) (536,608) Employee benefits expense (1,278,303) (1,704,821) Finance costs 4 (548,357) (19,881,288) Insurance (104,545) (734,023) Legal fees (168,752) (140,667) Occupancy expense/(income) (119,771) 186,644 Travel expenses (109,737) (157,480) Reversal/(Impairment) of exploration and evaluation expenditure 9 267,837 (32,032,313) Reversal/(Impairment) of property, plant and equipment and right-of-use assets 10 943,209 (109,336,573) Share-based payments 14 (474,680) (106,707) Loss before income tax expense (2,207,105) (163,811,944) Income tax expense (3,373) (295,461) Net loss for the period (2,210,478) (164,107,405) Other comprehensive loss Gain/(loss) in the fair value of equity investments at fair value through other comprehensive income 6 4,416,926 (1,046,584) Exchange gain on translation of foreign operations (11,349) 2,284 Other comprehensive gain/(loss) for the period 4,405,577 (1,044,300) Total comprehensive gain/(loss) for the period 2,195,099 (165,151,705) Loss per share attributable to the ordinary equity holders of the company: Basic and diluted loss per share (cents per share) (0.57) (90.75) The accompanying notes form part of these consolidated financial statements. Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income for the Half Year Ended 31 December 2025 Consolidated Interim Financial Report 2025 | 9 Notes Consolidated 31 Dec 2025 $ 30 Jun 2025 $ Assets Current Assets Cash and cash equivalents 4,925,067 688,219 Other receivables 938,600 243,442 Other current assets 5 3,082,374 1,600,889 Financial assets at fair value through other comprehensive income 6 - 10,144,767 Current assets excluding assets classified as held for sale 8,946,041 12,677,317 Assets classified as held for sale 8 - 118,037,532 Total current assets 8,946,041 130,714,849 Non-current assets Deferred exploration and evaluation expenditure 9 30,855,923 30,111,092 Plant and equipment 10 64,504,401 61,524,290 Right-of-use assets 285,347 416,974 Total non-current assets 95,645,671 92,052,356 Total assets 104,591,712 222,767,205 Liabilities Current liabilities Trade and other payables 5 4,643,595 2,830,301 Employee benefit obligations 105,195 206,702 Lease liability 187,606 224,642 Borrowings 11 78,486 123,659,437 Provisions 80,000 80,000 Share application monies pending allotment 750 256,400 Current liabilities excluding assets classified as held for sale 5,095,632 127,257,482 Liabilities directly associated with assets classified as held for sale 8 - 2,804,332 Total current liabilities 5,095,632 130,061,814 Non-current liabilities Borrowings 11 5,204,933 5,053,333 Lease liability 140,085 236,852 Employee benefit obligations 52,131 117,586 Provisions 1,854,184 1,789,554 Total non-current liabilities 7,251,333 7,197,325 Total Liabilities 12,346,965 137,259,139 Net Assets 92,244,747 85,508,066 Equity Issued capital 12 459,630,896 455,046,808 Reserves 13,14 472,438 (173,782) Accumulated losses (367,858,587) (369,364,960) Total Equity 92,244,747 85,508,066 The accompanying notes form part of these consolidated financial statements. Condensed Consolidated Statement of Financial Position as at 31 December 2025 10 | Hastings Technology Metals The accompanying notes form part of these consolidated financial statements. Issued Capital Accumulated Losses Fair Value Reserve Share-Based Payment Reserve Total $ $ $ $ $ Balance at 1 July 2025 455,046,808 (369,364,960) (688,726) 514,944 85,508,066 Loss for the year - (2,210,478) - - (2,210,478) Other comprehensive gain/(loss) - (11,349) 4,416,926 - 4,405,577 Total comprehensive gain/ (loss) for the year - (2,221,827) 4,416,926 - 2,195,099 Shares issued during the period 7,638,997 - - - 7,638,997 Transaction costs on share issue (211,628) - - - (211,628) Share-based payments - - - 474,680 474,680 Transfer from share-based payments 517,186 - - (517,186) - Return of capital (3,360,467) - - - (3,360,467) Transfer due to disposal of financial assets at FVTOCI - 3,728,200 (3,728,200) - - Balance at 31 December 2025 459,630,896 (367,858,587) - 472,438 92,244,747 Issued Capital Accumulated Losses Fair Value Reserve Share-Based Payment Reserve Total $ $ $ $ $ Balance at 1 July 2024 452,318,531 (82,076,922) (74,579,533) 754,574 296,416,650 Loss for the year - (164,107,405) - - (164,107,405) Other comprehensive loss - 2,284 (1,046,584) - (1,044,300) Total comprehensive loss for the year - (164,105,121) (1,046,584) - (165,151,705) Shares/options issued during the period 531,400 - - - 531,400 Transaction costs on share issue (97,382) - - - (97,382) Share-based payments - - - 106,707 106,707 Transfer from share-based payments - - - (154,000) (154,000) Balance at 31 December 2024 452,752,549 (246,182,043) (75,626,117) 707,281 131,651,670 Condensed Consolidated Statement of Changes in Equity for the Half Year Ended 31 December 2025 Consolidated Interim Financial Report 2025 | 11 The accompanying notes form part of these consolidated financial statements. Consolidated 31 Dec 2025 $ 31 Dec 2024 $ Cash flows from operating activities Payments to suppliers and employees (3,610,565) (4,822,803) Interest and finance costs paid (179,724) (8,881) Income tax paid (3,373) (295,461) Interest received 55,901 207,269 Net cash used in operating activities (3,737,761) (4,919,876) Cash flows from investing activities Payments for exploration and evaluation expenditure (1,445,794) (3,240,040) Cash transferred as part of disposal of exploration asset (300,000) - Payments for plant and equipment (3,405,238) (10,358,793) Proceeds from sale of financial assets at fair value through other comprehensive income 14,561,693 - Dividends from financial assets at fair value through other comprehensive income 67,454 1,969,735 Release of funds held in term deposits 62,823 2,408,786 Net cash provided by/(used in) investing activities 9,540,938 (9,220,312) Cash flows from financing activities Proceeds from issue of shares and options 6,482,598 377,400 Payments for share issue costs (211,628) (35,641) Proceeds from borrowings - 5,357,869 Repayment of borrowings (7,692,897) (1,412,381) Principal elements of lease payments (133,803) (525,000) Funds received for shares not yet issued 750 - Net cash (used in)/ provided by financing activities (1,554,980) 3,762,247 Net increase/(decrease) in cash held 4,248,197 (10,377,941) Foreign exchange loss (11,349) (25,904) Cash and cash equivalents at the beginning of the period 688,219 17,890,044 Cash and cash equivalents at the end of the period 4,925,067 7,486,199 Condensed Consolidated Statement of Cash Flows for the Half Year Ended 31 December 2025 12 | Hastings Technology Metals NOTE 1: MATERIAL ACCOUNTING POLICY INFORMATION a) Basis of Preparation These interim condensed consolidated financial statements for the half year ended 31 December 2025 have been prepared in accordance with AASB 134 Interim Financial Reporting and the Corporations Act 2001. The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Group’s annual financial statements as at 30 June 2025 and any public announcements made by the Group during the interim reporting period in accordance with the conditions disclosure requirements of the Corporation Act 2001. The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the Group’s annual consolidated financial statements for the year ended 30 June 2025. b) Going Concern The condensed consolidated financial statements have been prepared on a going concern basis which contemplates the realisation of assets and the settlement of liabilities in the normal course of business. For the half year ended 31 December 2025, the Group recorded a net loss of $2,210,478 (31 December 2024: net loss of $164,107,405) and had net cash outflows from operating activities of $3,737,761 (31 December 2024: $4,919,876). Furthermore, the Group completed the Yangibana Joint Venture ("UJV") transaction with Wyloo on 21 September 2025, including settlement of the cash payment of $7,363,068 which was payable within 45 days of completion. The Group had $4,925,067 in cash and cash equivalents as at 31 December 2025 (30 June 2025: $688,219). The Group will need to secure additional funding to meet forecasted corporate and project-related expenditure and to support progression of the Yangibana Project toward a final investment decision ("FID") during the next 12 months. As at 31 December 2025, the Group was in a net current asset position of $3,850,409 (30 June 2025: $653,035). The prior period net current asset position largely comprised Exchangeable Notes of $123,259,272 classified as current liabilities and assets held for sale of $118,037,532 classified as current assets. Following completion of the UJV transaction, the Exchangeable Notes were cancelled and the 60% interest in the Yangibana Project was transferred to the joint venture entity. The UJV parties expect to procure project funding together (target minimum gearing 50%). The UJV transaction reduces the Group’s final equity contribution to approximately $32 million assuming a 50:50 project gearing structure ($13 million assuming 60:40 gearing). The bankability of the Yangibana Project has improved through the UJV structure, which is likely to lead to improved financing terms. With its minority shareholding of 40%, the Group has significantly reduced its funding obligations in terms of both debt and equity. The Group and Wyloo are working collaboratively to secure project funding and progress the Yangibana Project toward a Final Investment Decision as quickly as practicable. Both parties are aligned in their objectives and are actively advancing the workstreams required to enable FID. Final equity contributions will only be required following a positive Final Investment Decision. As the Group will need to undertake interim capital raisings for expenditures as is customary for pre-production companies, a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern, and therefore, the Group may be unable to realise its assets and discharge its liabilities in the normal course of business. However, the Directors believe that there are reasonable grounds that the use of the going concern basis remains appropriate as the Board raises funds via equity capital raisings including share purchase plans, entitlement offers/rights issues and placements. Key considerations in forming this view were: Notes to the Condensed Consolidated Financial Statements for the Period Ended 31 December 2025 Consolidated Interim Financial Report 2025 | 13 NOTE 1: MATERIAL ACCOUNTING POLICY INFORMATION (CONTINUED) b) Going Concern (continued) • There is a demonstrated historical track record (since 2014) of the Group raising new capital to advance the Yangibana Project, noting that the Company has raised over $430 million (net of fees) to date, including capital raisings of $2.6 million (net of fees) in March 2025 and additional equity proceeds of approximately $6.1 million (net of fees) during the half year ended 31 December 2025. • The Group is in ongoing discussions with investment banks and stock broking firms who have expressed interest in supporting future capital raisings, which the Group plans to undertake in the next 12 months. These proposals outline potential structures for raising additional equity capital, including placements to institutional investors and participation from the Group’s existing shareholder base. • The Group entered into the UJV with Wyloo to broaden its funding options, leveraging Wyloo's position as a private investor focused on critical minerals and energy transition. • The Yangibana Project, under Wyloo’s management is progressing on updating the Definitive Feasibility Study for the purposes of, inter alia, refreshing the project’s capital expenditure and operational expenditure prior to further engagement with prospective financiers. • The Group is in discussions with international counterparties regarding potential strategic partnerships and funding arrangements that con