Earnings release
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ASX Announcement Released 27th October 2025 https://braziliancriticalminerals.com/ Investor Hub: signup here Brazilian Critical Minerals Ltd (ABN: 82 089 221 634) AUS: Level 28, 140 St Georges Terrace, Perth WA 6000 T +61 8 6383 7820 BRA: MINERAÇÃO BBX DO BRASIL LTDA, Rua dos Inconfidentes n⁰ 867, Savassi, Belo Horizonte, Minas Gerais, CEP 30.140-128 Page | 1 QUARTERLY ACTIVITIES REPORT For the period ending 30th September 2025 Highlights • First field trial REEs successfully recovered under real -world conditions: Rare earth elements have been leached, extracted, and precipitated directly from the Ema deposit using in-situ recovery (ISR) methods • Exceptionally high-grade pregnant leach solution (PLS) recovered from ISR holes in field pilot trials • Composition of the Magnet elements (MREO) within the (TREO) averaged 40 - 44% across all holes reported, defining the Ema project as one of the richest MREO deposits supporting a premium basket price • ISR field trials continue to deliver exceptional results, with pregnant leach solution (PLS) grades reaching up to 7,800 ppm TREO, more than 14x higher than in-situ mineralised grades • Super high -grade MREO grades peak above 3, 500 ppm, averaging 1,151 ppm sustained across 24 days • Critical heavy rare earths (Dy + Tb) exceed 100 ppm in places • Samarium concentrations up to 397 ppm, averaging over 5% of TREO — significant given samarium–cobalt magnets are the most widely used in defense and aerospace • State and the local municipality have indicated strong support for the Ema project and would like to accelerate construction once all permits are secured • Second engagement with Mr Gustavo Picanço the President of Amazonas Environmental Protection Institute (IPAAM) regarding the Ema project to provide an update on field trial outcomes • Further separate engagement s with multiple Amazonian State Secretaries, including; o State secretary of Mines: Mr Ronney Peixoto o State Secretary of Development, Science, Technology and Innovation (SEDECTI): Mr Serafim Corrêa o State Secretary SEMA (Environmental Secretary): Mr Eduardo Taveira o Secretary of the Military House: Mr Fabiano Do
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ASX Announcement Released 27th October 2025 https://braziliancriticalminerals.com/ Investor Hub: signup here Brazilian Critical Minerals Ltd (ABN: 82 089 221 634) AUS: Level 28, 140 St Georges Terrace, Perth WA 6000 T +61 8 6383 7820 BRA: MINERAÇÃO BBX DO BRASIL LTDA, Rua dos Inconfidentes n⁰ 867, Savassi, Belo Horizonte, Minas Gerais, CEP 30.140-128 Page | 2 • A separate meeting was convened with Wilson Lima, the Governor of the State of Amazonas • In Apui, updating meetings were held with the Mayor Mr Antônio Marcos Maciel Fernandes and Vice Mayor Dra Dilma Lira Porto Botton • Altris Engineering: appointed as Lead Engineer for the Ema rare earth bankable feasibility study • Cash and cash equivalents as of 30 September 2025 of A$2.46M Brazilian Critical Minerals Limited (ASX: BCM) (“BCM” or the “Company”) is pleased to provide detailed activities during the quarter ended 30 September 2025 in the Apuí region of Brazil (Figure 1). Figure 1. Precipitated solids directly in the field after in-situ leaching. Small amounts of reagent added to rare earth rich solution causing the rare earths and impurities to precipitate (cloudy material) in a beaker directly adjacent to extraction wells.
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ASX Announcement Released 27th October 2025 https://braziliancriticalminerals.com/ Investor Hub: signup here Brazilian Critical Minerals Ltd (ABN: 82 089 221 634) AUS: Level 28, 140 St Georges Terrace, Perth WA 6000 T +61 8 6383 7820 BRA: MINERAÇÃO BBX DO BRASIL LTDA, Rua dos Inconfidentes n⁰ 867, Savassi, Belo Horizonte, Minas Gerais, CEP 30.140-128 Page | 3 Field Leaching Trials Hugely Successful Since the commencement of field trials in late May, the Company has successfully; • Injected a low strength (0.5M) MgSO4 solution; • Very fast decrease the pH of the clay zone to the target zone required to leach rare earths over short distances of leaching; • Fast reactivity of the reagent to the leaching of the rare earths into solution; and • High PLS grade from leaching only a small test area; • Maintained a constant flow of solution through the clays, indicating strong permeability; • Has seen a steady and elevated rise in solution levels indicative that a solid impermeable basement exists; • Extracted and precipitated the rare earths from solution. Magnesium sulfate has successfully leached rare earth elements into solution via ionic exchange during the ongoing in-situ recovery field trials at the Ema Project. This marks a critical technical milestone and validates the transition from laboratory to field conditions. Rare earth-bearing solution has now been extracted from monitoring wells positioned downslope of the injection points, closely simulating the layout and flow dynamics anticipated in future operational phases. The extracted PLS underwent initial on -site analysis, with subsequent laboratory confirmation of initial results. The results announced represent the full phase of leaching over the field trial locality . As observed in lab-scale tests, there is an expected initial lag phase during which MgSO₄ saturates the clay-rich horizon and progressively lowers the in-situ pH to below the target threshold of 4. Only after this pH transition do REEs begin to mobilize and enter solution in measurable concentrations. The PLS solution extracted was assayed for total rare earth oxides (TREO), as well as the key individual magnet elements Nd,Pr,Dy,Tb which represent some 90% of potential revenues. PLS have be sent to ANSTO to remove impurities and precipitate the rare earths as a MREC over the coming weeks. Two field locations were subjected to MgSO₄ injection. The primary objective was not to complete a full leaching cycle, but rather to gather permeability and hydrological performance data critical to ISR system design and collect sufficient REE -enriched PLS to produce a representative mixed rare earth carbonate (MREC) sample for downstream processing assessment. The injection of magnesium sulphate (MgSO₄) has been completed in the first of two field pilot trials, with the water -wash flushing phase now well underway. Final laboratory assays confirm high -tenor grades across all holes from which PLS was extracted (Table 1 &2). Notably, the TREO grades feature an exceptional concentration of magnet rare earth elements (MREO), averaging 40-44% across all leaching results. This unusually high proportion of magnet elements, coupled with strong leaching efficiency and elevated rare earth concentrations in the PLS, has enabled the achievement of extremely high -grade MREO values, with some leaching periods exceeding 1,000 ppm. These results match or surpass MREO grades from projects operating with up to five times higher in -situ head grades —yet often with CAPEX requirements many times greater.
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ASX Announcement Released 27th October 2025 https://braziliancriticalminerals.com/ Investor Hub: signup here Brazilian Critical Minerals Ltd (ABN: 82 089 221 634) AUS: Level 28, 140 St Georges Terrace, Perth WA 6000 T +61 8 6383 7820 BRA: MINERAÇÃO BBX DO BRASIL LTDA, Rua dos Inconfidentes n⁰ 867, Savassi, Belo Horizonte, Minas Gerais, CEP 30.140-128 Page | 4 Figure 2. Pregnant liquor solution (PLS) grades extracted from monitoring hole H1-F9 located in the optimal path of solution flow from the field trial. MREO grades average 40% of the TREO values. Table 1. Data Comparison of Field Trial ISR vs ANSTO ISR Column Test TREO and MREO values. Hole ID Day (from) Day (to) No. Days Avg MREO (ppm) Avg TREO (ppm) MREO:TREO % H1-F9 9 27 19 552 1,356 41% including 12 20 10 929 2,281 41% H1-F8 11 35 25 114 293 37% including 18 24 7 262 657 39% H1-F7 12 34 23 280 672 41% including 16 25 10 408 959 42% H1-F6 35 47 13 669 1,538 43% including 37 47 11 737 1,639 43% ANSTO 6 13 7 855 2,382 36% 10 14 10 23 36 9 13 9 146 113 295 482 917 1428 1216 1225 1017 987 1088 640 234 86 185 65 178 107 83 24 17 58 28 35 30 57 87 27 38 28 357 279 725 1100 2285 3510 2989 2996 2515 2437 2667 1584 581 220 459 166 438 261 195 59 46 142 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 GRADE (ppm) Days TREO & MREO from hole H1-F9 MREO (ppm) TREO (ppm)
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ASX Announcement Released 27th October 2025 https://braziliancriticalminerals.com/ Investor Hub: signup here Brazilian Critical Minerals Ltd (ABN: 82 089 221 634) AUS: Level 28, 140 St Georges Terrace, Perth WA 6000 T +61 8 6383 7820 BRA: MINERAÇÃO BBX DO BRASIL LTDA, Rua dos Inconfidentes n⁰ 867, Savassi, Belo Horizonte, Minas Gerais, CEP 30.140-128 Page | 5 Figure 3. Pregnant liquor solution (PLS) grades extracted from monitoring hole H1-F6 over the period in which 0.5M Magnesium Sulphate was injected into the mineralised horizon. Yellow range represents composition of MREO inside the TREO values ranging from 42-45%. Hole H1-F6 is located on the edge of the defined field trial area. Leaching of rare earths from H1-F6 commenced on day 33 or 34 (Figure 3), in comparison to hole H1-F9, which the Company previously stated was in a better position to capture early lixiviant primarily as a result of topographical and slope control which affects hydrological control, started leaching rare earths much earlier on day 9 (ASX: 18 Aug). As a result of the slightly slower migration of solution towards H1 -F6, the lixiviant has had additional contact time with the rare earth elements connected to the clay particles resulting in a higher level of ionic exchange and significantly higher concentration of rare earths in solution. To date, PLS has only been extracted through pumping from wide spaced vertical extraction holes (ASX: 2 Jul 2025). More than 2,600 litres of high grade PLS has been extracted from the field trials. This system is designed only to be able to collect a small representative sample of the PLS for TREO analysis. 7 8 14 42 85 210 380 417 536 360 502 262 1,542 1,552 1,092 909 438 497 196 370 495 836 1,106 2,197 3,515 3,218 2,456 2,593 1,933 24 27 43 107 204 501 881 970 1,236839 1,176 632 3,486 3,519 2,502 2,091 1,0281,139468867 1,166 1,925 2,533 4,991 7,842 7,321 5,535 5,857 4,425 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 TREO & MREO (ppm) Days TREO & MREO grades from hole H1-F6 MREO (ppm) TREO (ppm)
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ASX Announcement Released 27th October 2025 https://braziliancriticalminerals.com/ Investor Hub: signup here Brazilian Critical Minerals Ltd (ABN: 82 089 221 634) AUS: Level 28, 140 St Georges Terrace, Perth WA 6000 T +61 8 6383 7820 BRA: MINERAÇÃO BBX DO BRASIL LTDA, Rua dos Inconfidentes n⁰ 867, Savassi, Belo Horizonte, Minas Gerais, CEP 30.140-128 Page | 6 Figure 4. Pregnant liquor solution (PLS) grades extracted from monitoring hole H2-F12 over the period in which 0.5M Magnesium Sulphate was injected into the mineralised horizon. Yellow range represents composition of MREO inside the TREO values averaging 41% over the 10-day leaching period. Table 2. PLS solution grades averaged over the leaching cycle from hole H2-F10, H2-F11 and H2-F12. Hole ID Day (from) Day (to) No. Days Avg MREO (ppm) Avg TREO (ppm) MREO:TREO % H2-F12 34 43 10 1,093 2,593 41% H2-F11 13 37 25 269 714 37% H2-F10 2 11 10 90 274 33% Comments on Results The hole array for extraction was designed specifically for the purpose of measuring solution permeability timing but subsequently retrofitted for PLS extraction. The vertical extraction hole design only captures a small proportion of the PLS and was never contemplated for scale up commercialisation as it is not the method employed in any ISR rare earth operation. Final extraction of the PLS upon production will occur at the base of the leached hills captured by an efficient containment system which will funnel the solution back to the process plant. 139 105 11 11 11 10 11 10 10 11 12 19 36 79 2,449 2,437 1,249 1,227 1,376 888 791 386 42 358 265 35 39 37 35 37 34 29 30 33 50 97 204 5,790 5,726 2,943 2,907 3,278 2,127 1,889 938 124 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 TREO and MREO (ppm) Days TREO & MREO ppm from hole H2-F12 MREO (ppm) TREO (ppm)
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ASX Announcement Released 27th October 2025 https://braziliancriticalminerals.com/ Investor Hub: signup here Brazilian Critical Minerals Ltd (ABN: 82 089 221 634) AUS: Level 28, 140 St Georges Terrace, Perth WA 6000 T +61 8 6383 7820 BRA: MINERAÇÃO BBX DO BRASIL LTDA, Rua dos Inconfidentes n⁰ 867, Savassi, Belo Horizonte, Minas Gerais, CEP 30.140-128 Page | 7 Permitting Update The focus was on presenting the Ema rare earth project in Apui and explaining the in-situ recovery (ISR) extraction process in detail, which is the most suitable extraction methodology for the region, due to its high ESG compliance in achieving 3 things critical to Brazilian regulations; 1. Zero additional deforestation: no conventional open pit mining eliminating serious impacts to hundreds of hectares of land (ASX: 28 July 2025) 2. Zero Tailings Dams: small volumes of waste products not required to be housed or stored in long term, life of mine, engineered facilities, and 3. High local social engagement with 100% positive survey responses. The meeting in Apui with the presence of the State Governor, Mayor and Vice Mayor of Apui, as well as other state secretaries, it was agreed to establish and commence closer ties between the company the state and municipal environmental and mining departments. The State and the municipality have indicated strong vocal support would like to see the start of construction as soon as practical once all permits have been received. Figure 5. Cassio Roberto, Marcos da Macil (Mayor), Wilson Lima (State Govenor), Antonio de Castro (BCM Exploration manager) , Aldem ir Moreira (Ema Project Manager) , Dilma Botton (Vice Mayor) , Eduardo Taveira
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ASX Announcement Released 27th October 2025 https://braziliancriticalminerals.com/ Investor Hub: signup here Brazilian Critical Minerals Ltd (ABN: 82 089 221 634) AUS: Level 28, 140 St Georges Terrace, Perth WA 6000 T +61 8 6383 7820 BRA: MINERAÇÃO BBX DO BRASIL LTDA, Rua dos Inconfidentes n⁰ 867, Savassi, Belo Horizonte, Minas Gerais, CEP 30.140-128 Page | 8 Bankable Feasibility Study Altris were selected as the Engineering Services firm to complete the Ema bankable feasibility study. The Altris team—formerly of Primero Group Ltd —comprises highly qualified study and project managers, engineers, and designers across all key disciplines: process, mechanical, piping, civil/structural, electrical, and instrumentation. Collectively, the team has delivered multiple scoping, prefeasibility, and feasibility studies, and has led EPC and EPCM project execution for battery and critical minerals projects across multiple global jurisdictions. With strong experience in project delivery, Altris is recognised for producing fit-for-purpose designs that minimise capital expenditure while maintaining high standards of operability and safety. • ANSTO: to undertake advanced process flow sheet optimisation test work from extracted pregnant liquor solution as part of the Ema field trials • WSP: to conducted detailed hydrogeological modelling from Ema field trial data and final design and quantities of materials for the setup of injection and leaching of Magnesium Sulfate reagents Corporate For the purpose of Section 6 of the Appendix 5B, all payments made to related parties have been paid in relation to director fees. This announcement has been authorised for release by the Board of Directors. Enquiries For more information please contact: Andrew Reid Managing Director Brazilian Critical Minerals Limited Andrew.reid@braziliancriticalminerals.com
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ASX Announcement Released 27th October 2025 https://braziliancriticalminerals.com/ Investor Hub: signup here Brazilian Critical Minerals Ltd (ABN: 82 089 221 634) AUS: Level 28, 140 St Georges Terrace, Perth WA 6000 T +61 8 6383 7820 BRA: MINERAÇÃO BBX DO BRASIL LTDA, Rua dos Inconfidentes n⁰ 867, Savassi, Belo Horizonte, Minas Gerais, CEP 30.140-128 Page | 9 Brazilian Critical Minerals Limited (BCM) is a mineral exploration company listed on the Australian Securities Exchange. Its major exploration focus is Brazil, in the Apuí region, where BCM has discovered a world class Ionic Adsorbed Clay (IAC) Rare Earth Elements deposit. The Ema IAC project is contained within the 781 km² of exploration tenements within the Colider Group and adjacent sediments. BCM has defined an indicated and inferred MRE of 943Mt of REE’s with metallurgical recoveries averaging 68% MREO, representing some of the highest for these types of deposits anywhere in the world. The Company has commenced a bankable feasibility study due for completion in Q1 2026, is engaging with regulators regarding permitting approvals and has commenced a resource extension drilling program which will inform the BFS economic analysis. Ema REE Global Mineral Resource Estimate @COG 500ppm TREO JORC Category cut-off ppm TREO Tonnes Mt TREO ppm NdPr ppm DyTb ppm MREO ppm MREO: TREO % Indicated 500 248 759 176 16 192 25 Inferred 500 695 701 165 16 181 26 Total 500 943 716 168 16 184 26 The information in this announcement relates to previously reported exploration results and mineral resource estimates for the Ema Project released by the Company to ASX on 22 May 2023, 17 July 2023, 19 July 2023, 31 July 2023, 13 Sep 2023, 19 Oct 2023, 06 Dec 2023, 06 Feb 2024, 22 Feb 2024, 13 Mar 2024, 02 Apr 2024, 08 Oct 2024 19 Nov 2024, 21 Jan 2025, 17 th Feb 2025, 26 th Feb 2025, 10 th March 2025, 13th March 2025, 28th April 2025, 27th May 2025, 28th May, 13 June 2025, 01 July 2025, 18 August 2025, 01 Sep 2025, 22 Sep 2025 and 20 Oct 2025. The Company confirms that is not aware of any new information or data that materially affects the information included in the above -mentioned releases and CONTINUES TO APPLY and have not materially changed in accordance with listing Rule 5.23.2.
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ASX Announcement Released 27th October 2025 https://braziliancriticalminerals.com/ Investor Hub: signup here Brazilian Critical Minerals Ltd (ABN: 82 089 221 634) AUS: Level 28, 140 St Georges Terrace, Perth WA 6000 T +61 8 6383 7820 BRA: MINERAÇÃO BBX DO BRASIL LTDA, Rua dos Inconfidentes n⁰ 867, Savassi, Belo Horizonte, Minas Gerais, CEP 30.140-128 Page | 10 Competent Person Statement The information in this announcement that relates to exploration results is based on information compiled by Mr. Antonio de Castro, BSc (Hons), Member of AusIMM, CREA, who acts as BCM´s Senior Consulting Geologist through the consultancy firm, ADC Geologia Ltda. Mr. de Castro has sufficient experience which is relevant to the type of deposit under consideration and to the reporting of exploration results an d analytical and metallurgical test work to qualify as a competent person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Castro consents to the report being issued in the form and context in which it appears. Additional Information required under Listing Rule 5.3.3 Tenements held at the end of the quarter Area (Ha) Percentage ownership ANM Permit Number 880.107/08 Location Brazil (Ema) 9,839.91 100% Exploration Licence ANM Permit 880.184/16 Location Brazil (Ema East) 9,034.00 100% Exploration Licence ANM Permit Number 880.090.08 Location Brazil (Três Estados) 8,172.25 100% Exploration Licence ANM Permit Number 880.025/2023 Location Brazil (Apuí iREE) 2,417.00 100% Exploration Licence ANM Permit Number 880.026/2023 Location Brazil (Apuí iREE) 6,591.90 100% Exploration Licence ANM Permit Number 880.027/2023 Location Brazil (Apuí iREE) 5,856.00 100% Exploration Licence ANM Permit Number 880.259/2020 Location Brazil (Apuí iREE) 9,092.01 100% Exploration Licence ANM Permit Number 880.149/2017 Location Brazil (Apuí iREE) 9,815.15 100% Exploration License ANM Permit Number 880.076/2023 Location Brazil (Apuí ENE iREE) 8,475.30 100% Exploration application ANM Permit Number 880.077/2023 Location Brazil (Apuí ENE iREE) 8,856.84 100% Exploration application
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Rule 5.5 ASX Listing Rules Appendix 5B (17/07/20) Page 1 + See chapter 19 of the ASX Listing Rules for defined terms. Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Name of entity Brazilian Critical Minerals Limited ABN Quarter ended (“current quarter”) 82 089 221 634 30 September 2025 Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 1. Cash flows from operating activities - - 1.1 Receipts from customers 1.2 Payments for (822) (822) (a) exploration & evaluation (b) development - - (c) production - - (d) staff costs (141) (141) (e) administration and corporate costs (252) (252) 1.3 Dividends received (see note 3) - - 1.4 Interest received 2 2 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Government grants and tax incentives - - 1.8 Other - - 1.9 Net cash from / (used in) operating activities (1,213) (1,213) 2. Cash flows from investing activities - - 2.1 Payments to acquire or for: (a) entities (b) tenements - - (c) property, plant and equipment (28) (28) (d) exploration & evaluation - - (e) investments - - (f) other non-current assets (deposits) - -
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 2 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 2.2 Proceeds from the disposal of: - - (a) entities (b) tenements - - (c) property, plant and equipment - - (d) investments - - (e) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (lease payments) - - 2.6 Net cash from / (used in) investing activities (28) (28) 3. Cash flows from financing activities 2,069 2,069 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options 93 93 3.4 Transaction costs related to issues of equity securities or convertible debt securities (146) (146) 3.5 Proceeds from borrowings - - 3.6 Repayment of borrowings - - 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other - - 3.10 Net cash from / (used in) financing activities 2,016 2,016 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 1,698 1,698 4.2 Net cash from / (used in) operating activities (item 1.9 above) (1,213) (1,213) 4.3 Net cash from / (used in) investing activities (item 2.6 above) (28) (28) 4.4 Net cash from / (used in) financing activities (item 3.10 above) 2,016 2,016
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 3 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 4.5 Effect of movement in exchange rates on cash held (13) (13) 4.6 Cash and cash equivalents at end of period 2,460 2,460 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter $A’000 Previous quarter $A’000 5.1 Bank balances 2,460 1,698 5.2 Call deposits - - 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 2,460 1,698 6. Payments to related parties of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1 116 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. Item 6.1 Director fees, salaries and superannuation.
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 4 + See chapter 19 of the ASX Listing Rules for defined terms. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities - - 7.2 Credit standby arrangements 6,600 2,250 7.3 Other (please specify) - - 7.4 Total financing facilities 6,600 2,250 7.5 Unused financing facilities available at quarter end 4,350 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. Drake Facility Converting loan Facility of up to $6.6m with Drake Special Solutions LLC at 10%. The facility is repayable by cash or via issue of fully paid ordinary shares subject to shareholder approval. The facility was extended to 15 December 2026. 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) (1,213) 8.2 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) - 8.3 Total relevant outgoings (item 8.1 + item 8.2) (1,213) 8.4 Cash and cash equivalents at quarter end (item 4.6) 2,460 8.5 Unused finance facilities available at quarter end (item 7.5) 4,350 8.6 Total available funding (item 8.4 + item 8.5) 6,810 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) 5.6 Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. 8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Answer: n/a 8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: n/a
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 5 + See chapter 19 of the ASX Listing Rules for defined terms. 8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Answer: n/a Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered. Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. Date: ........27 OCTOBER 2025................................................... Authorised by: ........BY THE BOARD.................................................. (Name of body or officer authorising release – see note 4) Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter , how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, t he definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. 4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.