Annual report
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CHRYSOS CORPORATION Assays at the speed of light Positioned for Growth ANNUAL REPORT 2026
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Forward‑looking statements This report may contain forward looking statements. Further information can be found on page 115 of this report. ASX: C79 Chrysos Corporation Ltd FY26 Highlights 02 Ch air’s lett er 04 Man aging Director and Ceo Rep ort and Review of Operations 06 Cr eating Value with Purpose 10 Gl obal Footprint 12 Ch rysos Journey: Milestones and Models 14 oper ational over view 15 Go vernance and Risk 17 Di rectors’ Report 27 Remuneration Report – Audited 37 Au ditor’s Independence Declaration 62 Co nsolidated Financial Report 63 Di rectors’ Declaration 110 I ndependent Auditor’s Report 111 Imp ortant noti ces 115 S hareholder Information 116 A nnual General Meeting 119 C orporate Directory 120
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“ t hat reduction in the number of steps r equired between fire assay and PhotonAssay means that there’s less potential errors associated with getting a representative sample. It provides more confidence in the analysis of the sample and helps drive better decisions in the while process flow – from exploration through to mining. ” Hamish Blackmore, Geology Manager, Macraes Mine, OceanaGold Corp About us Chrysos Corporation lim ited (“Chrysos” or the “Group”) is an Australian‑based provider of novel assay services to the global mining industry through its proprietary PhotonAssay™ technology. Assaying involves the analysis of ore or other materials to determine the presence and quantity of valuable metals or other constituents. It is a non‑discretionary operating cost for the mining industry with applications across all stages of the value chain, from early‑stage exploration drilling to later‑stage production activities. While PhotonAssay™ can be used to detect a wide range of elements, the technology has proven particularly effective for assaying gold and is currently being rolled‑out across the gold mining sector. Chrysos PhotonAssay™ units are deployed at mine sites and within independent laboratories offering commercial assay services. The Group continues to scale globally, supporting a growing installed base and strengthening relationships with key industry partners. Chrysos is headquartered in Adelaide, with operations spanning Asia Pacific, North America, South America, Africa and Europe. Annual Report 2026 01
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Key statistics 29m+ 1 Commercial samples over twenty nine million commercial samples processed. 5 Continents PhotonAssay™ units now deployed across five continents. 83 PhotonAssay™ units deployed or contractually‑committed. 11.3m More than eleven million commercial samples processed during the year. GROWTH Chrysos continued expanding its global footprint during FY26, achieving its first deployment in South America through a new installation in Chile, while continuing to strengthen its presence across Australia, North America, Africa and Europe. SAFETY Zero notifiable2 safety incidents. PRODUCT DEVELOPMENT Progressed next‑generation XC manufacturing, enhanced copper and silver analytical capability and advanced development of future detectable elements. CAPABILITY Strengthened the global operating platform through continued investment in people, manufacturing capability and operating infrastructure to support future growth. 1. Commercial samples life to date. 2 . No tifiable incidents are workplace incidents that meet legislative reporting thresholds and are required to be reported to the relevant regulatory authority within prescribed timeframes. FY26 Highlights 02 Chrysos Corporation
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7 up from FY25 Expanded global fleet, including Chrysos’ first deployment into South America. 46 2 PhotonAssay™ units deployed $27.2m up 68% from FY25 Increased asset utilisation drove EBITDA margin expansion to approximately 31%. EBITDA1 68% Revenue $88.1m up 33% from FY25 Record revenue driven by fleet expansion and higher customer sample throughput. 33% Financial Highlights 1. EBITDA (non‑IFRS measure) is calculated as S tatutory Loss before income tax adjusted by adding back Finance Costs and Depreciation & Amortisation and loss on disposal of Other Assets while deducting Other Income (excluding insurance recovery income and impairment expenses). This measure provides an indication of the Group’s operating performance before the impact of financing and non‑cash depreciation and amortisation expense, as measured internally by the CODM. The Group identifies the Managing Director and CEO as the Chief Operating Decision Maker (CODM). The non‑IFRS measure has not been subject to audit or review. 2. One unit in Ghana, that has reached e nd of lease during the period, has now been decommissioned and will begin deployment in Morocco during 1H FY27. “ For me, I think the PhotonAssay™ is a game changer. We cannot belabour the point. We’ve got one on site. It’s just a stones throw away. If anything happens, I can just walk up to the lab, retrieve all the jars – they are not destroyed, the samples are not destroyed, they are in the jars. ” Richard Addo, Geological Database Management, Ravenswood Gold Annual Report 2026 03
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Dear Fellow Shareholders, It is my pleasure to present our Financial Year 2026 report, the tenth since we founded Chrysos Corporation Limited (“Chrysos”) in 2016. Ten years in, that milestone means a great deal to all of us. It started as an Australian idea: a faster, safer, more accurate way to assay gold and other elements. A decade on, that idea is a global business, with our proprietary PhotonAssay™ technology deployed across five continents for many of the world’s leading miners and laboratories. FY26 marked an important milestone in Chrysos’ evolution as the Group enters its second decade with record financial performance, a broader global footprint and increasing commercial maturity. Industry‑changing technology with a global customer base Chrysos is an established and growing Australian provider of assaying solutions to the global mining industry. Our proprietary PhotonAssay™ technology, first conceived by Australia’s national science agency CSIRO, which remains a significant shareholder, has reset how the industry measures gold, silver, copper and other elements. What that means for the industry is the real story. PhotonAssay™ has replaced a centuries‑old method. Every deployment improves safety, reduces waste and helps miners make better decisions. As the technology and our business have matured, so too has our responsibility to ensure PhotonAssay™ continues setting the benchmark for assay quality and environmental performance. FY26 results: operating and financial performance FY26 was our strongest year yet. The business reported total revenue of $88.1m and delivered $27.2m of EBITDA 1, up 33% and 68% respectively on FY25 ($66.1m and $16.1m). This represented an EBITDA margin of approximately 31%, with unit‑level operating gross margins steady at around 76%, and saw the Group return to post‑tax profitability during the year. FY26 was the year Chrysos began to show the strategic maturity of an established business rather than a young one. Our largest‑ever fleet, a first step onto a fifth continent, and demand that outran our installed capacity at several sites all point the same way. The market now treats PhotonAssay™ as standard practice rather than an emerging technology. During FY26 we deepened our relationships with the world’s leading laboratories and miners, with PhotonAssay™ becoming embedded in customers’ operating models as more units run directly on their own sites. We are now the only provider partnered with all four of the world’s major laboratory groups. When names of that scale commit to PhotonAssay™ across continents, they validate the business behind the technology, not only the science. That confidence carries through to how we are funded. Returning to post‑tax profitability while putting a new $200m facility in place demonstrates that the platform is increasingly capable of funding its own growth, and that our lenders share our view of where it is heading. We enter the year ahead well capitalised and setting our own pace. Chair’s letter 1. EBITDA (non‑IFRS measure) is calculated as S tatutory Loss before income tax adjusted by adding back Finance Costs and Depreciation & Amortisation and loss on disposal of Other Assets while deducting Other Income (excluding insurance recovery income and impairment expenses). This measure provides an indication of the Group’s operating performance before the impact of financing and non‑cash depreciation and amortisation expense, as measured internally by the CODM. The Group identifies the Managing Director and CEO as the Chief Operating Decision Maker (CODM). The non‑IFRS measure has not been subject to audit or review. $ 27.2m EBITDA1 up 68% on FY25 236 people employed as of 30 June 2026 $88.1m total revenue up 33% on FY25 04 Chrysos Corporation
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Safety, wellbeing and inclusivity at Chrysos The safety, wellbeing and inclusion of our people come first, and growth makes that matter more, not less. As we move into new regions and bring on new colleagues, a safe and supportive workplace at every site is what keeps the rest working. At 30 June 2026 we employed 236 people across 14 countries, up from 207 across 13 a year earlier. Our Total Recordable Injury Frequency Rate (TRIFR1) was 2 (FY25: 2). We are working towards zero harm as the footprint grows. We keep investing in our team’s development, diversity and wellbeing. The people who design, build, deploy and maintain our PhotonAssay™ units are the reason for everything Chrysos has achieved. Governance As Chrysos has grown, so has the complexity of running it, and we have strengthened our governance to match. We operate across many jurisdictions and through a range of customer and laboratory partnerships. Sound governance, risk management and compliance protect our shareholders and support what comes next. Throughout the year the Board remained focused on balancing disciplined investment for future growth with responsible stewardship of shareholder capital. The Chrysos board Throughout FY26 the Board kept its focus on three priorities. The first was supporting disciplined global growth. The second was strengthening governance as the business grew. The third was preserving the culture of innovation that brought Chrysos this far. We welcomed Elisha Civil to the Board as an independent Non‑Executive Director, effective 15 October 2025. Elisha brings more than 20 years in financial, strategic and governance roles across the mining, energy and infrastructure sectors. Her strengths in financial governance, risk management, capital markets and business transformation matter as we expand. We expect the Board to keep evolving as the Group grows and our operations become more complex. I thank my fellow Directors for their guidance and commitment throughout the year. Our strategy Chrysos has grown from a technology company commercialising a single innovation into a global operating business serving the world’s largest miners. Our plan has not changed. Our strategy remains unchanged: disciplined deployment of PhotonAssay™ globally while continuing to invest in technology, manufacturing capability and customer relationships. The Board continues to support disciplined investment in technology, manufacturing capability and operating infrastructure, so that Chrysos is positioned for sustainable long‑term growth. Building on the priorities set out at our most recent Annual General Meeting, we are advancing a number of specific initiatives that support this strategy: improving PhotonAssay™’s copper and silver detection capabilities; scaling our capacity for XC and XN units manufacturing, which we recognise as a multi‑year initiative; and advancing the science and technology required to detect additional elements. Continued progress against these priorities reinforces our long‑term competitive position and the Group’s sustainable growth. We have also kept widening the ways customers can take a unit, whether leased and run by the miner, operated on their behalf by a laboratory, or run by a laboratory serving one or many mines. That flexibility is central to how we win work and scale. Our growing installed fleet, customer relationships, intellectual property and operating capability reinforce our long‑term competitive position. Thank you My thanks go to the whole Chrysos team for building, deploying and maintaining our PhotonAssay™ units and delivering for our customers. Ten years ago, Chrysos was an ambitious Australian idea. Today it is helping reshape gold assaying around the world. That progress belongs to our people, our customers, our shareholders and our partners. We are proud of what we have built together, and even more excited about what comes next. On behalf of the Board, thank you for your confidence and support as we begin the Group’s second decade. Yours sincerely, Rob Adamson Chair, Chrysos Corporation 1. Total Recordable Injury Frequency Rate ( TRIFR) represents the number of new recordable workplace injuries per one million hours worked during the reporting period. Recordable injuries include lost time injuries, medical treatment injuries and restricted work injuries that meet Chrysos' incident recording criteria. Chair’s letter Cont Inue D Annual Report 2026 05
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31% EBITDA1 margin increased from 24% YoY to 31% Managing Director and Ceo R eport and Review of Operations Dear Fellow Shareholders, FY26 saw continued PhotonAssay™ adoption and major contract wins, strengthening the platform for sustained growth. The Group has grown revenue strongly with full‑year revenue of $88.1m, up 33% (FY25: $66.1m), and EBITDA 1 of $27.2m, up 68% (FY25: $16.1m). During the year we strengthened our position with the world’s leading laboratories while increasing direct engagement with mining customers. We secured our first contract with Bureau Veritas and, through the year broadened partnerships with all four of the world’s major laboratory companies. Sample volumes reached successive record highs, with the fleet processing more than one million samples in each month since March, underscoring the accelerating adoption of our technology and a broad‑based recovery in mining and exploration activity. I am pleased to report these outcomes and to describe the strategy and operational performance that underpins them. Revenue and commercial performance During the year, the Group continued scaling an established global platform, with revenue growth driven by both an expanding installed base and rising fleet utilisation. Full‑year revenue grew 33% to $88.1m (FY25: $66.1m). Minimum Monthly Assay Payments (MMAP) remain the primary and most forecastable revenue stream, underpinning the Group’s revenue as a contracted base, with growth in line with the installed fleet. Additional Assay Charges (AAC) grew strongly over the year, benefiting from continued market adoption and strong sector activity, reflecting the Group’s leveraged exposure to mining sector upswings and the record sample volumes processed across the fleet. Revenue growth during FY26 reflected the increasing maturity of Chrysos’ global operating platform. International markets continued to account for approximately 55% of Group revenue, demonstrating the breadth of the business across multiple mining jurisdictions. APAC was the largest contributor to revenue growth during the year, increasing 70% as record sample volumes drove stronger earnings from the region. The Americas maintained strong momentum, with revenue increasing 28%, while EMEA delivered continued growth following two years of rapid expansion. With a growing contracted deployment pipeline across multiple international markets and strengthened relationships with 83 Contractually committed PhotonAssay™ units in total $88.1m Revenue of $88.1m, representing 33% growth on FY25 $0 $20,000 $40,000 $60,000 $80,000 $100,000 FY26FY25FY24FY23 APAC EMEA Americas Revenue by Region (’000’s AUD) Revenue by region 1. EBITDA (non‑IFRS measure) is calculated as S tatutory Loss before income tax adjusted by adding back Finance Costs and Depreciation & Amortisation and loss on disposal of Other Assets while deducting Other Income (excluding insurance recovery income and impairment expenses). This measure provides an indication of the Group’s operating performance before the impact of financing and non‑cash depreciation and amortisation expense, as measured internally by the CODM. The Group identifies the Managing Director and CEO as the Chief Operating Decision Maker (CODM). The non‑IFRS measure has not been subject to audit or review. 06 Chrysos Corporation
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leading laboratories and mining customers, the Group is well positioned to continue broadening its geographic revenue base over time. Revenue composition: MMAP and AAC Our revenue model continues to provide a strong foundation for scalable growth. Minimum Monthly Assay Payments (MMAP) are the core of that model, with each deployed PhotonAssay™ unit generating contracted monthly revenue under long‑term lease agreements. As the installed base grows, so too does the recurring revenue base, giving the business greater visibility as new units are commissioned. Additional Assay Charges (AAC) provide an important second revenue stream. When customers process volumes above their contracted minimums, Chrysos earns additional revenue on a per‑sample basis. In FY26, stronger exploration activity and continued adoption of PhotonAssay™ drove substantial AAC growth, demonstrating the benefit of our model in periods of higher industry activity. The growing diversity of our revenue by geography, customer and revenue type also strengthens the resilience of the business. Customer utilisation continues to reinforce the strength of PhotonAssay™. During FY26, a number of sites exceeded the nameplate capacity of 40,000 samples per unit per month, reflecting both the reliability of the platform and the value customers see in moving more work to PhotonAssay™. Average gross profit generated per deployed PhotonAssay™ unit increased from approximately $1.5m in FY25 to $1.6m in FY26, reflecting higher customer utilisation and stronger Additional Assay Charges. The 24 new PhotonAssay™ lease agreements executed during FY26, across both new and existing laboratory and mining customers, support the planned deployment schedule and future growth in the MMAP revenue base. Expansion of industry‑leading customers FY26 was an important year for customer adoption. PhotonAssay™ continued to gain relevance across the global laboratory industry, with Chrysos now partnered with all four major laboratory companies; SGS, ALS, Bureau Veritas and Intertek. This is a strong endorsement of the technology and reflects the value customers see in faster, safer and more accurate assaying. Our relationship with ALS continued to grow, reaching 17 units following nine additional agreements during the year. We also saw increasing direct demand from miners, including through the expansion of our Master Services Agreement with Newmont Corporation, with a second lease signed for deployment at Newmont’s Ahafo mine in Ghana, in addition to the unit planned for Merian in Suriname. Our first contract with Bureau Veritas was another significant milestone. The initial deployment at Antofagasta in Chile marked Chrysos’ entry into Latin America, a region that represents close to a fifth of our total addressable market. Bureau Veritas signed a second lease agreement later in the year, this time for deployment in Australia, further broadening the partnership. Direct‑to‑mine demand also strengthened. During FY26, Chrysos secured new agreements with Allied Gold for its Kurmuk mine in Ethiopia and Sadiola mine in Mali, as well as agreements for two additional gold mines in Western Australia, all for deployment during FY27. Together with the expanded Newmont MSA, these wins show PhotonAssay™ becoming more embedded in mine‑site workflows and increasing its relevance to leading miners. Australia remained our largest and most active market in FY26, supported by record sample volumes and a mature base of laboratory and mining customers. At the same time, growth in EMEA and the Americas demonstrates the increasing breadth of the platform and the strength of our geographic diversification strategy. PhotonAssay™ deployments As at 30 June 2026, Chrysos had 46 PhotonAssay™ units deployed across Oceania, Africa, Europe, North America and for the first time, South America. During the year, the Group commissioned its inaugural South American installation at Antofagasta, Chile, for Bureau Veritas, marking an important milestone in Chrysos’ global expansion. New deployments also included an installation at Grand Falls‑Windsor, Canada, for MSALABS. One unit in Ghana, that has reached end of lease during the period, has now been decommissioned and will begin deployment in Morocco during FY27. The lower rate of new deployments relative to FY25 (11 units) reflects timing dynamics including customer site readiness and contractor scheduling, consistent with the deployment readiness risk discussed in the Governance and Risk section. Importantly, the Group is well positioned to accelerate deployments in FY27. Long‑lead components have been procured in advance, units are already in transit to or stored near their deployment locations, and manufacturing capacity is ahead of planned deployments. Together with a strong forward order book and a new $200m syndicated debt facility, this gives the Group good visibility of expected fleet growth into FY27 and beyond. Deployments during FY26 expanded the Group’s presence across existing and new markets, with installations in Australia and Canada and the Group’s first South American unit successfully deployed in Antofagasta, Chile. The Group’s strategy of clustering units where feasible, co‑locating units within major mining hubs, continues to deliver operating efficiencies as the fleet scales. Unit availability across the fleet was maintained at a consistently high level in FY26, in line with prior years, reflecting the operational discipline of Chrysos’ global field teams and the reliability of the PhotonAssay™ platform. Managing Director and CEO Report and Review of Operations Cont Inue D Annual Report 2026 07
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The Group’s revenue model, described in detail in the Revenue Composition section above, is linked both to deployment cadence: each new unit deployed adds contracted MMAP revenue to the recurring base and AAC which provides additional upside as sample volumes grow and upside opportunity when the market is strong. The strength of the deployment pipeline entering FY27 is underpinned by the volume of new contracts executed during FY26, with the Group having signed 24 new PhotonAssay™ lease agreements during FY26. These agreements span both established and new markets and expand the Group’s commercial footprint with leading laboratories and mining customers such as Newmont and Allied Gold. Each contract signed during FY26 underpins future MMAP revenue as the associated units move through manufacture and commissioning, supporting future fleet expansion and continued growth in the recurring revenue base. The Group remains focused on broadening adoption across major laboratory partners and direct mining customers, with particular emphasis on near‑mine deployments where PhotonAssay™’s speed, precision and safety benefits are most tangible. As the fleet grows, our focus on unit reliability, deeper integration into customer workflows and analytical performance continues to strengthen customer confidence and support the long‑term contracted revenue base. Global sample growth Sample volumes reached successive record highs during FY26, reflecting both the expanded fleet, continued conversion of customers to PhotonAssay™ and strong industry activity. In a standout demonstration of demand, the fleet processed more than one million samples in a single month for the first time in March 2026, then repeated the feat each month to end of the year, underpinned by elevated utilisation across the fleet, a buoyant gold market and a broad‑based recovery in exploration activity. These record volumes directly accelerate Additional Assay Charges, a key revenue and profitability driver, and demonstrate the sustained and growing demand for PhotonAssay™ services. Similarly, a growing number of individual PhotonAssay™ units have each surpassed one million samples processed since deployment, reflecting the intensity of customer utilisation across our most established sites. GLOBAL SAMPLE GROWTH 800,000 850,000 900,000 950,000 1,000,000 1,050,000 1,100,000 Jun-26May-26Apr-26Mar-26Feb-26Jan-26Dec-25Nov-25Oct-25Sep-25Aug-25Jul-25 Sample volume Managing Director and CEO Report and Review of Operations Cont Inue D 08 Chrysos Corporation
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EBITDA and asset utilisation Full‑year EBITDA grew 68% to $27.2m (FY25: $16.1m), with EBITDA margin expanding to approximately 31% (FY25: 24%). The margin expansion was driven by revenue growth outpacing cost increases as the Group benefits from increased asset utilisation on its fixed‑cost infrastructure, with the Group continuing to generate positive operating cash flow. Directors present EBITDA because it removes the effect of non‑cash depreciation and amortisation charges which are material given Chrysos’ capital‑intensive lease model and finance costs associated with the Group’s growth funding, enabling investors to assess the underlying trading performance of the deployed fleet. EBITDA is calculated consistently with the prior period. The statutory loss before income tax, remains the primary IFRS measure of financial performance. A strategic approach to sales As at 30 June 2026, Chrysos had 46 PhotonAssay™ units deployed, with a strong contracted pipeline of 37 units committed for future deployment. The Group continues to take a strategic, selective approach to business development, prioritising on the conversion of miners, whether these samples are processed by the miner directly or through a laboratory‑operated unit. This diversification of operating models units leased directly by miners, units operated by laboratories on behalf of miners, and laboratory‑operated units servicing multiple customers continues to support the Group’s addressable market and commercial pathways. While revenue from international markets continues to grow as a proportion of the total, the Group’s established Asia‑Pacific region remains its largest and most active market, reflecting the depth of customer relationships, maturity of APAC operations and sample volumes across the region. Driving growth and delivering performance During FY26 we continued to build out Chrysos’ global operating platform, supported by a growing network of offices in Australia, Canada, the USA, Tanzania, Côte d’Ivoire and Ghana that keeps our teams close to key mining regions. This local presence enables our field teams to sustain high unit availability – maintained at 95% in FY26, consistent with prior years – ensuring equipment is ready whenever customers require it, even as the fleet grows and becomes more geographically dispersed. Delivering this growth ultimately depends on our people. During FY26, Chrysos’ global workforce increased by 14% to 236 employees, reflecting continued investment in the capability required to support our expanding global operations. Product development During FY26, the Group has progressed the rollout of its next‑generation automation system across new deployments and has continued the retrofit program for selected earlier units. This automation platform delivers improved sample throughput, reduced maintenance complexity, higher availability, and a more consistent operating experience across diverse geographies. Product development remained central to our long‑term strategy and during FY26 investment focused on three priorities. We enhanced PhotonAssay™’s detection capabilities; progressed our multi‑year program to scale manufacturing capacity and bring selected manufacturing and assembly functions in‑house, reducing long‑term unit costs while strengthening supply chain resilience; and advanced the science required to expand the range of detectable elements. Together, these initiatives reinforce our technology leadership and support Chrysos’ long‑term growth strategy. Outlook With 46 PhotonAssay™ units deployed across Oceania, Africa, Europe and the Americas, a strengthened contracted pipeline to 83 units, a forward order book extending beyond FY27, and a healthy cash and liquidity position underpinned by a new $200m syndicated debt facility, the Group is well positioned to accelerate deployments and continue scaling its established global platform in FY27. The Group’s contracted revenue base through MMAP provides visibility into near‑term revenue streams, while increasing sample volumes processed and miner conversion support higher AAC revenues. The Group will continue to invest in new deployments and manufacturing capacity while managing operating costs to drive further EBITDA margin expansion. FY26 demonstrated the increasing commercial maturity of our business. With a growing installed base, strong contracted revenue and expanding global customer relationships, we enter FY27 well positioned to continue executing our long‑term growth strategy. I am grateful for everyone’s continuing contributions and look forward to working with the team to achieve more success over the next twelve months. Yours sincerely, Dirk Treasure Managing Director and Chief Executive Officer, Chrysos Corporation Managing Director and CEO Report and Review of Operations Cont Inue D Annual Report 2026 09
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TECHNOLOGY & IP PhotonAssay™ developed by CSIRO Mosaic patent protection globally 20+ years R&D originPEOPLE & EXPERTISE 236 employees across 14 countries 15% turnover rate globally 36+ cultures represented NUMBER OF SAMPLES PROCESSED 11.3 million commercial samples processed during FY26, up 67% on FY25, demonstrating increasing customer utilisation across the global fleet. LEASE MODEL — MMAP (LOCKED‑IN REVENUE FROM DEPLOYMENTS) Minimum Monthly Assay Payments (MMAP) increased to $62.5 million, up 12% on FY25, providing a highly visible recurring revenue base under long‑term lease agreements. ADDITIONAL ASSAY CHARGES — AAC (UPSIDE) Additional Assay Charges (AAC) increased 153% to $25.5 million, driven by record sample volumes, higher customer utilisation and favourable market conditions. CUSTOMER RELATIONSHIPS 83 contracted units 70% of top‑20 gold miners engaged Newmont MSA signed All 4 major global labs our ope rations DEPLOYED ASSETS 46 PhotonAssay™ units Contracted across five continents $200m syndicated debt facility secured our I nputs Creating Value with Purpose 10 Chrysos Corporation
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~$2.12m revenue/yr Per Unit Economics our Broader Impact 46 deployed 410 on‑site labs 610 total tAM Market oppo rtunity our Fi nancial out puts – FY26 $88.1m Total Revenue 33% on FY25 ($66.1m) $1.609m Gross Profit Per deployed unit 8% on FY25 ($1.495m) 83 Future Contracted 83 contracted PhotonAssay™ units $ 27.2m EBITDA 68% on FY25 31% EBITDA margin $62.5m MMAP Revenue 12% on FY25 (FY25 $55.9m) ~7% market share significant upside ENVIRONMENTAL IMPACT 12,800+ tonnes CO2 reduced 6,200+ tonnes hazardous waste eliminated (lead) GLOBAL REACH 29m+ commercial samples analysed 5 continents 12 countries 46 units deployed SAFETY & PEOPLE Zero notifiable safety incidents TRIFR 2 consistent with FY25 Female workforce +8% growth rate CUSTOMER VALUE Faster ore decision Improved recovery Retained samples for QA/QC ~$515k operating cost/yr 76% gross margin Annual Report 2026 11
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Global Footprint as at 30 June 2026 Key Countries with deployed units Countries with signed contracts Deployed at Commercial laboratories Currently installing Offices and manufacturing Deployed at Site‑b ased laboratories Canada 10 United States 5 Chile 1 2 2 2 12 Chrysos Corporation
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Tanzania 3 DR Congo 2 Western Australia 15 UK 1 Côte d’Ivoire 1 Namibia 1 New Zealand 1 Queensland 1 New South Wales 1 Victoria 1 Ghana 2 Mali 1 43 4 2 2 13 Annual Report 2026
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unit deployed direct to mine site Chrysos Journey: Milestones and Models Deployment models Best‑fit approach broadens operational flexibility and applicability Milestones Notable adoption milestones and endorsements Unit Leased by Laboratory to Service Multiple Mining Customers Unit Leased by labo ratory to Service a Specific Mining Operation Unit Leased & oper ated by Miner Unit Leased by Miner & oper ated by Laboratory Barrick, one of the world’s largest gold miners announces global adoption of PhotonAssay™ technology in October 2023. Agnico Eagle at 2024 AUSIMM conference presents and discusses the successful adoption of PhotonAssay™ at its Fosterville Gold Mine. Gold Fields reports exclusive use of PhotonAssay™ within its Australian operations during Chrysos’ site visit in April 2024. Northern Star Resources ASX releases demonstrate use of PhotonAssay™ across the majority of its global operations. OceanaGold installed a PhotonAssay™ unit direct to its Macraes mine site in New Zealand during Q3 FY25. Kinross using PhotonAssay™ for its Fort Knox gold mine following installation of MSALABS Fairbanks unit. Ravenswood Gold reports significant cost and productivity improvements through use of its site‑based PhotonAssay™ unit. Newmont the industry’s leading gold miner, signed a Master Services Agreement and a contract to install its first unit in May 2025. Bureau Veritas became Chrysos’ fourth major global laboratory partner, with the first deployment in Antofagasta, Chile, marking Chrysos’ entry into South America. Chrysos commissioned its inaugural South American deployment during FY26, extending its global operating footprint to five continents. 14 Chrysos Corporation
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operational ov erview Environmental, Safety And Social Values Chrysos is built on a values‑led culture that shapes daily decision‑making and behaviour across the organisation and stakeholders. Our people are the business. The culture they work within is what keeps the workplace safe and inclusive. We defined our values with our global team. They are S.O.D.A, and they reflect the commitments set out in Chrysos’ Charters: S – Safety is a Non‑Negotiable O – One United Team D – Delighted Customers A – Always Improving OVER 29 MILLION CHRYSOS PHOTONASSAY™ SAMPLES 12 ,800+ TONNES REDUCED CO₂ EMISSIONS 1 6, 200+ TONNES HAZARDOUS WASTE REDUCTION 1 1. Based on an independent GHD study “ Emissions, Energy and Waste Assessment” comparing PhotonAssay™ and conventional Fire Assay operations. Greenhouse gas emissions are expressed as CO₂‑equivalent emissions per sample. Environmental benefit calculations are based on lifetime sample throughput of 29,017,262 samples. 2. No tifiable incidents are workplace incidents that meet legislative reporting thresholds and are required to be reported to the relevant regulatory authority within prescribed timeframes. 3. Total Recordable Injury Frequency Rate (TRIFR) represents the number of new recordable workplace injuries per one million hours worked during the reporting period. Recordable injuries include lost time injuries, medical treatment injuries and restricted work injuries that meet Chrysos' incident recording criteria. These values rest on respecting our stakeholders, listening to the communities they belong to, and operating with integrity and consistency. Living these principles is how Chrysos grows and expands. We partner with companies that share them and can show a record of legal compliance, community engagement and sustainability practices. As we move into new regions, we use staff mobility to carry our culture with us. We hire locally across those regions and invest in developing our people and their wellbeing. Working closely with local communities sharpens what the business can do and broadens how we understand the places we operate. Chrysos works towards cultural and gender diversity and makes employment decisions on skills, qualifications and experience, without bias. That builds an inclusive global workplace and supports our team’s wellbeing. Our culture aspires to zero harm, and disciplined risk management makes that goal achievable. During the period ended 30 June 2026 there were zero notifiable 2 incidents, including long‑term injuries, reflecting our focus on the safety and wellbeing of our employees and PhotonAssay™ users. TRIFR 3 was 2, consistent with FY25, reflecting Chrysos' continued focus on proactive risk management and the safety of our employees, contractors and PhotonAssay™ users. Safety remains a cornerstone of Chrysos as the business grows. We offer an Employee Assistance Program (EAP) through LifeWorks. This free, confidential service helps all employees and their immediate families work through issues affecting their lives. As our Africa presence grows, it matters that LifeWorks delivers this service in French, Spanish and Swahili. Annual Report 2026 15
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Chrysos conducts business ethically, in line with our values and in full compliance with the laws of the countries where we operate. Robust governance systems guard against bribery and corruption, backed by clear performance management that keeps compliance consistent. We train our people regularly to spot and avoid ethical risks, and we provide confidential whistleblower services so any concern is handled with integrity and discretion. At Chrysos, safety is never compromised. It is more than a policy. It is a shared responsibility to build environments where every employee, partner and customer can trust their own wellbeing. As One United Team, we rely on trust, collaboration and the range of thought and experience our people bring. A culture of continuous improvement pushes us to question assumptions and try new things. Delighting customers keeps us honest. We measure our success by the success of the miners and laboratories we serve. Independent analysis undertaken by GHD found that, across the complete analytical process, PhotonAssay�™ generated approximately 0.884 kg CO₂‑e per sample compared with 1.326 kg CO₂‑e per sample for conventional Fire Assay. Based on 29.0 million samples processed, this equates to approximately 12,826 tonnes of CO₂‑e emissions avoided. The assessment also found that PhotonAssay™ generated no hazardous lead waste during operation, compared with approximately 215 g per sample for Fire Assay, equating to approximately 6,239 tonnes of hazardous lead waste avoided. With reporting standards now clear, Chrysos will report its Scope 1 and Scope 2 impacts at the scheduled reporting timing. Every sample processed by PhotonAssay™ produces fewer CO₂ emissions, less hazardous waste and a safer working environment for our customers and teams worldwide. Those same outcomes open up Scope 3 discussions and reporting opportunities for us and our stakeholders around the world. Diversity Diversity is a pillar of Chrysos’ culture. We work to improve gender balance across the organisation, with initiatives that span the full length of a career — from recruitment and promotion through to succession. More than 36 cultures are represented across the Group globally, and female representation in the workforce grew faster than the total workforce during the period. Women now hold 33% of Board seats, ahead of the target we set in FY24. That breadth runs deeper than gender and geography. Our people span around four generations, from a long‑tenured leadership team to the many who have joined as the business has grown, and diversity is building in technical roles — the number of women among our Maintenance Specialists and Engineers rose from two in FY25 to four this year, across APAC, EMEA and the Americas. It also shows in the lives our people lead: many balance their careers with dependent children or wider caring responsibilities, hold university or post‑graduate qualifications, and bring a wide range of identities and life experiences. Together, this range of backgrounds and perspectives is what makes us One United Team. operational ove rview Cont Inue D 16 Chrysos Corporation
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Governance and Risk The Chrysos Board holds the business to high standards of governance and conduct, and to a culture built on respect, empathy and integrity. We see this as essential to long‑term performance and to protecting the interests of our shareholders, customers and people. Our Governance Framework sets how the Group defines its objectives, monitors performance and manages risk. It guides decisions across the business and sets the standards of behaviour we expect of our people. Our risk profile shifts as the Group grows, so we review our principal and emerging risks every year. Three changes stand out in FY26. Global conflict, an emerging theme in FY25, is now a named geopolitical risk. Commodity‑price volatility, once folded into the macroeconomic cycle, is now its own risk. People and culture has become a principal risk as our international workforce expands. Risks that are still taking shape sit under Emerging Risks. organisational structure map and lines of responsibility Audit, Finance and Risk Committee EXTERNAL AUDIT Group Executive The Executive Leadership Team is responsible for implementing the Group’s strategy and managing the day‑to‑day operations of the business, with clearly defined responsibilities and reporting lines that support effective governance and accountability. The organisational committees support the Executive Leadership Team by providing structured oversight, cross‑functional coordination and governance across key operational, strategic and risk management activities. Remuneration & Nominations Committee Board Accountable to stakeholders for organisational oversight. Leads with integrity and transparency, overseeing operations, client service and day‑to‑day risk management. This includes ensuring appropriate expertise and support, monitoring and communicating risk, and fostering a culture that protects the interests of all stakeholders. Managing Director and CEO Organisational Committees The Audit, Finance and Risk Committee and the Remuneration & Nominations Committee set and coordinate the policies and controls that manage our regulatory, legal, risk and compliance obligations. Committees of Directors Annual Report 2026 17
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Business risks Deployment risk Threats Opportunities Management response As the Group expands globally, delays in customer site readiness, permitting, logistics, contractor availability or other execution activities may extend the period between contract signing and unit deployment. A slower deployment cadence can defer revenue, delay cash generation and impact the timing of expected growth. Improving deployment capability and reducing the time from contract execution to commissioning accelerates revenue generation, enhances customer confidence and supports more efficient capital deployment. Management is strengthening deployment planning through standardised project management, early customer engagement, deployment readiness reviews and closer coordination with customers, contractors and internal teams. Deployment milestones are actively monitored to identify risks early and support timely commissioning of new units. Potential impacts: Group reputation • Financial performance • Growth constraints Market entry costs, deployment timing and revenue Threats Opportunities Management response Entering a new jurisdiction does not guarantee the returns we expect. Demand, competition, regulation and the pace at which customers commit all shape whether interest turns into revenue. New markets can bring unexpected cost and operational hurdles. Customers can also cancel or delay a contract before we deploy, which pushes back planned revenue. Our work is high quality and profitable, and we hold firm financial and commercial discipline. Customers value the efficiency, cleaner process and fast turnaround that PhotonAssay™ delivers. We have a strong record of deploying and maintaining units, and we plan each installation well ahead. We stay selective on contracts and build in options to extend and lengthen the term. If a contract falls away before deployment, we redeploy the unit, either to the same customer elsewhere or to a different customer in the same market. A client base spread across geographies, markets, activities and end‑customers cushions us against any single shift. Potential impacts: Group reputation • Financial performance • Growth constraints Governance and Risk Cont Inue D 18 Chrysos Corporation
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Health or safety incidents Threats Opportunities Management response Our people could be hurt. Accidents, serious injury, illness or a fatality are all possible. A zero‑harm philosophy and strong safety practices protect our employees and customers. We run HSE management systems built to international standards. They include: – Ap propriate, regular training, supervision and resources – Cr itical Risk Standards and verification to manage serious injury and fatality risks – Ac tive safety engagement, including the Health and Safety Committee and the Safety Leadership Committee – Le adership development that builds a mature safety culture, with specific safety programs – Su pport for the psychological safety and mental wellbeing of our people – Ad justment of operations in response to known or emerging illness – Reg ular review and audit of HSE processes and controls – Gr oup‑level monitoring of HSE reporting and Significant Potential Incidents Potential impacts: Health and safety of our people • Compliance • Group reputation Governance and Risk Cont Inue D Business risks continued Annual Report 2026 19
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Governance and Risk Cont Inue D Prolonged geopolitical instability Threats Opportunities Management response Chrysos operates in regions that can turn unstable. Diplomatic breakdowns, territorial disputes, ideological conflict or competition for resources can escalate, sometimes into armed conflict. When they do, we may lose access to a jurisdiction, see deployments delayed, or struggle to support PhotonAssay™ units already on the ground. Military action in the Middle East region during FY26 created significant disruption to global supply chains and costs, which may continue in FY27 and beyond. Political instability, civil unrest, changes in government policy, security incidents, regulatory uncertainty or disruptions associated with elections in African jurisdictions where Chrysos operates, including Mali, the Democratic Republic of Congo, Tanzania and other West African countries, may adversely impact customer operations, project implementation timelines, logistics, workforce mobility and business continuity. We can disable PhotonAssay™ units remotely and recover them when the time is right. No unit runs without Chrysos enabling it, so we keep a measure of control even in volatile markets. We choose our countries and contracts carefully, which lets us manage risk across the fleet. We track geopolitical developments where we operate and stay in close contact with partners as tensions shift. In FY26 this risk also covers the spread and interconnection of global conflict, which we used to treat as an emerging theme. A conflict in one region can impact trade, security and supply chains far beyond it. Potential impacts: Impact on profitability • Loss of assets • Risk to staff Failure to develop and commercialise its intellectual property (IP) Threats Opportunities Management response If we stop building, improving and commercialising our IP, we lose ground and weaken the global position of Chrysos and PhotonAssay™. Underinvest in innovation, product or customer fit, and we fall behind. Competitors may also build something better or cheaper over time. Continued innovation widens the range of elements and materials PhotonAssay™ can handle. It reinforces our lead and opens new partnerships. We run a clear IP Roadmap. A dedicated development team, kept separate from operations, speeds up product evolution, and a product team commercialises what it builds. Patents protect us, but it is the pace of our technology that keeps us ahead. We commercialise hard and defend our patents. Potential impacts: Group reputation • Financial performance • Growth constraints Business risks continued 20 Chrysos Corporation
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Inability to maintain continuous operation of its technology platforms, servers and hosting services Threats Opportunities Management response We rely on technology platforms, operational systems, cloud services, support tools, data‑processing environments, connections to deployed PhotonAssay™ units and third‑party providers to serve customers and run the business. Any of these can fail. Causes range from infrastructure or power failure, configuration changes, ageing equipment and network outages, to third‑party outages, human error, cyber events and natural disasters. A serious disruption could stop us supporting customers, seeing our deployed units, reaching operational data, responding to incidents or running critical activities. The result can be service interruptions, unhappy customers, slower response, financial loss, regulatory exposure and reputational damage. Reliable, transparent operations are part of what we sell. They give customers confidence that we deliver consistently across a growing global fleet, keep watch on our units, fix issues fast and protect critical data. Investment in resilient platforms, monitoring, cloud services, automation and disciplined change management also drives our digital and efficiency gains as we scale. We manage this through technology governance, cyber security, operational resilience and service‑management controls. These cover information security, network segmentation, endpoint protection, multi‑factor authentication, monitoring and alerting, change management, backup and disaster recovery, lifecycle management of critical systems, and close work with key cloud, technology and communications providers. We are sharpening our resilience approach by mapping critical systems, their dependencies and recovery needs. That work feeds a broader Business Continuity Framework that will define critical services, set recovery objectives, and pull together our incident response, disaster recovery, emergency management and operational support. As we grow, we keep investing in people, processes and technology to keep platforms reliable and operations running. Potential impacts: Group reputation • Financial performance • Operational interruptions • Growth constraints Governance and Risk Cont Inue D Business risks continued Annual Report 2026 21
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Governance and Risk Cont Inue D Cyber incidents Threats Opportunities Management response Cyber risk covers the harm from unauthorised access, data breaches, ransomware, malware, business email compromise, stolen credentials, hacking, denial‑of‑service attacks and other malicious activity. For us it splits into two related data‑breach risks: – Pe rsonal data breach. Employee, contractor, contact or other personal information. The fallout is privacy, notification, regulatory and reputational. – Cu stomer data breach. Customer operational, commercial, technical or assay data. The fallout is contractual, confidentiality, IP, commercial and trust‑related. A cyber incident can mean financial loss, disruption, lost or corrupted data, regulatory scrutiny, legal liability, remediation cost, reputational damage and lower customer confidence. We budget for and run protective controls, but threats keep evolving, and a real incident could cost more than we expect. Strong cyber and data protection build customer confidence, keep us regulator‑ready and reinforce trust in our technology. Investing in cyber maturity improves resilience, incident readiness and data governance. It can also set us apart, as customers and partners weigh supplier cyber posture more heavily each year. We treat cyber security and data protection as core, fast ‑mo ving risks and manage them through our enterprise risk framework, information security practices and resilience work. Our controls align with the Australian Cyber Security Centre’s Essential Eight and other recognised frameworks, across prevention, detection, response and recovery. They include multi‑factor authentication, network segmentation, endpoint detection and response, anti‑malware, identity and access management, security awareness training, regular external testing, incident response planning, and work with cyber experts and cloud providers. In FY26 we split the cyber risk into personal and customer data breaches, because the regulatory, contractual, confidentiality and reputational consequences differ. The split sharpens ownership, controls, incident planning and reporting to the Board. We keep maturing the capability as we scale, through governance reviews, training, simulations, threat monitoring and steady improvement of response and recovery. Potential impacts: Group reputation • Financial performance • Operational interruptions Fraud, bribery and corruption Threats Opportunities Management response We operate in jurisdictions where fraud, bribery and corruption are real risks. They could cost us fines, reputation and growth. Tight integrity controls strengthen our wider compliance culture and build stakeholder trust. Our Code of Conduct and induction set the standards we expect of Directors, employees, consultants, contractors and suppliers. Three policies back them up: – An ti‑Bribery and Corruption Policy – Se curities Trading Policy – Wh istleblowing Policy Potential impacts: Compliance • Group reputation • Financial performance • Growth constraints Business risks continued 22 Chrysos Corporation
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Suppliers may become unable or unwilling to do business with Chrysos Threats Opportunities Management response Some PhotonAssay™ components are highly specialised, so a replacement supplier is hard to find quickly or on fair terms. A gap could stall the business. US trade and tariff action adds to this, though our installed base in the United States limits the exposure to a single site such as Fairbanks. We also depend on a steady supply of quality sample jars. Our product team works with trusted suppliers to lift quality and availability, find second sources, and capture efficiencies as the fleet grows. We work closely with long‑standing suppliers to manage supply‑chain risk, and no material problem has surfaced to date. In FY26 we went further. Our Generation 2 program builds parallel supply chains so we no longer depend on one source. The XC unit, built for North America, takes its X‑ray source and detectors from the United States, developed for us by Accelerad, and its automation and shielding from Australian partners SAGE and Automation Innovation. The first XC has run in Perth since May 2025. The XN unit keeps our partnership with Nuctech, in a smaller, redesigned form. Together, XC and XN give us two supply chains in different regions for building, installing and supporting units. We own our IP in practice, build and support our own equipment, hold critical spares in several locations, and train our own people to install and maintain accelerators anywhere. Potential impacts: Group reputation • Financial performance • Operational interruptions • Growth constraints Technology development Threats Opportunities Management response New product development can miss. A technology may underperform or cost more than planned, which hits credibility, cost and revenue. This is an execution risk, separate from commercialising the IP we already hold. When development lands, it extends what we can analyse and the market we can reach, and strengthens our position with customers. Our Strategic Innovation Team runs a stage‑gate process built to fail fast and contain cost. Each development passes defined gates before we commit more money. Potential impacts: Financial performance Group reputation Growth constraints Governance and Risk Cont Inue D Business risks continued Annual Report 2026 23
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Governance and Risk Cont Inue D Currency volatility and foreign exchange exposure Threats Opportunities Management response Most of our revenue comes from overseas, in USD, CAD, GHS, TZS and GBP. When those move against our functional currency, they hit revenue recognition, margins and cash‑flow forecasts, and they bite hardest on long‑term contracts and deployment projects. Market swings driven by macro shifts, rate changes or geopolitics make it worse, especially in emerging or frontier markets. Earning across several currencies spreads our revenue base, matches client demand and lets us gain when rates move our way. Managing exposure well also makes our forecasting sharper. We manage currency risk with a mix of proactive and reactive measures: – Nat ural hedging, matching currency inflows and outflows where we can – FX f orecasting and scenario analysis built into modelling and budgeting – Co ntracts that allow price adjustment or indexation where they carry FX exposure – Op erational flexibility to redeploy or source based on FX trends – On going monitoring to spot risk concentrations – FX f orward options to lock in rates Potential impacts: Financial performance • Budget accuracy and forecasting confidence • Contractual margins • Growth planning and capital allocation Extreme commodity price fluctuations Threats Opportunities Management response When the price of the commodities our customers mine moves sharply, especially gold, it changes how much they explore and produce. That feeds straight into the sample volumes running through our units, and into our revenue. A strong commodity price lifts sample volumes and speeds adoption of PhotonAssay™. Our MMAP model, with minimum monthly assay payments and annual inflation adjustment, gives us recurring revenue and upside when samples run above the minimum. We build close relationships with miners, knowing lab volumes swing more than mine‑site activity, and we use long‑term contracts with minimum payments and fixed or indexed pricing to steady revenue through the cycle. Potential impacts: Financial performance • Revenue • Growth planning Business risks continued 24 Chrysos Corporation
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People and culture Threats Opportunities Management response We are scaling fast across many countries. That pressures our culture and our pillars of respect, empathy and integrity, and our ability to hire and keep people who fit. Employing people in more jurisdictions also exposes us to labour and employment law risk. Scaling our leadership, employee experience and people systems on purpose lets us lift engagement, keep our people, build our employer brand and hold a consistent high ‑ pe rformance culture as we grow. We hold our culture through a structured people and leadership framework that builds our values into recruitment, onboarding, leadership expectations, performance and development. Our executives keep a steady rhythm of global communication, regional engagement and site visits, backed by manager‑led forums that reinforce culture as we scale. We support capability and resilience through workforce and succession planning, leadership development, talent identification and competitive pay, and we review key roles regularly. We manage employment and compliance risk through global HR governance, jurisdiction‑specific monitoring, clear policies, mandatory training and ongoing review of our obligations as we enter new markets. Potential impacts: Culture and cohesion • Compliance • Group reputation • Growth constraints Counterparty risk Threats Opportunities Management response Working with counterparties carries risk. They may not perform, on technical or financial grounds or on site readiness. We can become too concentrated on one of them. A poor relationship can lead to disputes. Some jurisdictions we work in carry higher risk of unrest, bribery, corruption, modern slavery and crime, and some private counterparties run less transparent governance than listed companies. Choosing counterparties well and setting firm terms keeps the customer base resilient and protects our reputation and cash flow. M&A activity generating consolidation in the gold production or geochemistry laboratory industries is considered to have a net positive impact on this risk profile, given that it is likely to generate larger and more stable counterparties. We flag higher‑risk customers during business development and set pricing and terms to match. Most of our customers are listed companies bound by strict reporting and governance, which lowers the risk, and we apply extra due diligence and contractual controls when we deal with private entities. This risk fell in FY26 as our concentration on one customer dropped, though new counterparties in new countries partially offsets some of this reduction. Potential impacts: Financial performance • Group reputation • Growth constraints Governance and Risk Cont Inue D Business risks continued Annual Report 2026 25
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emerging risks Economic, technological, political, regulatory and environmental forces keep reshaping the risk landscape. We analyse how emerging risks could hit our objectives so we can respond early. The themes below are not principal risks yet, but we watch them closely as we scale. Deployment readiness risk Getting units deployed on time drives our commercial performance, and our footprint keeps growing, with 40+ units across five continents and more on the way. FY26 showed the tension in this risk. We signed 24 new contracts, up from 9 in FY25, but deployed 7 units, down from 11. The widening gap between contracts won and units running shows how much deployment timing depends on factors outside the unit itself, and how important it is to convert a growing pipeline into live, revenue‑generating units. Deployment depends on third parties we do not control: customer site readiness, permits, utilities and contractor schedules, all of which vary by jurisdiction and shutdown season. This is an operational risk, and it matters most while we scale globally. To protect revenue recognition and project margins, we keep improving customer engagement, tightening deployment planning, growing our global deployment team, and scaling manufacturing through the new XC and XN units. The aim is simple. Coordinate the pre‑install work, spot the risk points early, and have everyone ready for mobilisation and commissioning. Competitor activity and technology evolution Barriers to entry in our field are high, but we watch the market for new entrants and adjacent innovations that could substitute for what we do. None has been a material threat so far. AI, automation and changing mining workflows are the area we watch most, as both a threat and a chance to improve our own offering. These external forces sit apart from our internal technology ‑ de velopment risk and play out over the longer term as the mining‑technology landscape shifts. Macroeconomic and inflation outlook Macroeconomic, geopolitical and inflationary uncertainty can move global conditions and, with them, how customers budget and decide. Our MMAP model, with minimum monthly assay payments and annual inflation adjustment, gives us recurring revenue through the cycle, and we use long‑term contracts with fixed pricing where we can. We cover extreme commodity‑price swings separately, as a principal Business Risk. Environment Environmental change and the shifting climate‑disclosure landscape bring operational and regulatory risk. Sustainability and ESG factors can affect which mines get developed and run, and so affect our addressable market. We are preparing for mandatory climate‑related financial disclosure under the Australian Sustainability Reporting Standards, with first reporting expected in FY28. At the same time, our technology replaces a more hazardous, dangerous process, which is a real advantage to the mining industry. Risk management approach The risks above are the factors and trends that could affect the Group materially or adversely. They are not ranked, and the list is not exhaustive. Other risks we do not yet know about, or judge immaterial today, could still affect the business. Our execution of the global expansion plan, and our ongoing read of the operating environment, aligns with the ASX Principles and Recommendations and gives the business a base of resilience to meet these challenges and reach its growth goals. Operational resilience We already run incident response, health and safety emergency management and IT disaster recovery. We are now building an enterprise Business Continuity Framework to define how critical operations keep running through a major disruption. It will identify critical services and dependencies, set recovery time and recovery point objectives, and pull our existing response and recovery frameworks together. Risk framework and appetite Our risk framework is built into how we decide, aligns with the ASX Principles and Recommendations, and is overseen by the Audit, Finance and Risk Committee against a Board‑defined risk appetite. As we scale, we keep maturing it, with a clearer risk taxonomy, consistent quantification and stronger integration across our global operations. We also track rising regulatory expectations, including ASIC’s sharper focus on clear disclosure of risk, technology and climate. While the Group’s risk profile has expanded as the business has grown internationally, management believes these risks remain consistent with Chrysos’ strategy and risk appetite. The investments made during FY26 in manufacturing capability, governance, cyber security, deployment capability and business continuity strengthen the Group’s ability to execute its long‑term growth strategy. Governance and Risk Cont Inue D 26 Chrysos Corporation
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Directors’ Report Directors present their report, together with the consolidated financial statements, of the Group comprising of Chrysos Corporation Limited (referred to hereafter as the ‘Group’ or ‘Chrysos’) and its subsidiaries for the year ended 30 June 2026. DIRECTORS The following persons were Directors of Chrysos Corporation Limited during the whole of the financial year and up to the date of this report, unless otherwise stated: – Ro bert Henry Richard Adamson – El isha Joyce Civil (appointed 15 October 2025) – Er ic Ford – Ke rry Jo‑Anne Gleeson – Gre gory Vincent Holt – Di rk Moore Treasure PRINCIPAL ACTIVITIES The principal activities of the Group during the financial year were development and supply of mining technologies. DIVIDENDS There were no dividends paid, recommended or declared during the current or previous financial year. REVIEW OF FINANCIAL RESULTS The Group’s financial performance for the FY26 is summarised as follows: 30 June 2026 $’000 30 June 2025 $’000 YoY Comparison to FY25 (%) $’000 Minimum Monthly Assay Payments (MMAP) 62,487 55,892 +12% +6,595 Historical Financial Information Total Revenue 88,110 66,112 +33% +21,998 Profit/(loss) for the Full Year 1,790 (8,223) +10,013 EBITDA1 27,168 16,134 +68% +11,034 EBITDA Reconciliation 30 June 2026 $’000 30 June 2025 $’000 Profit/(loss) before income tax (1,796) (2,880) Add: Finance costs 7,6 4 3 4,962 Add: Depreciation and amortisation expense 21,386 15,261 Add: Loss on disposal of other assets 106 – Less: Other income (171) (1,210) EBITDA (non‑IFRS)1 27,168 16,134 1. EBITDA (non‑IFRS measure) is calculated as Statutory Loss before income tax adjusted by adding back Finance Costs and Depreciation & Amortisation a nd loss on disposal of Other Assets while deducting Other Income (excluding insurance recovery income and impairment expenses). This measure provides an indication of the Group’s operating performance before the impact of financing and non‑cash depreciation and amortisation expense, as measured internally by the CODM. The Group identifies the Managing Director and CEO as the Chief Operating Decision Maker (CODM). The non‑IFRS measure has not been subject to audit or review. Annual Report 2026 27
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Directors’ Report CONTINUED During the financial year, the Group continued to scale its established global platform, with total revenue increasing by 33% to $88.110m (FY25: $66.112m). This growth was driven by both an expanding installed base of PhotonAssay™ units and rising fleet utilisation, supported by the growing market acceptance of the technology and a strengthening mining sector. Minimum Monthly Assay Payments (MMAP), the Group’s contracted and most forecastable revenue stream, rose by 12% to $62.487m (FY25: $55.892m), broadly in line with growth in the installed fleet. Additional Assay Charges (AAC), earned as customers process sample volumes above their contracted minimums, increased by 153% to $25.512m (FY25: $10.098m), benefiting from continued adoption of PhotonAssay™ and record sample volumes processed across the fleet. As a result, AAC represented 29% of revenue in FY26 (FY25: 15%), reflecting the Group’s leveraged exposure to periods of heightened mining activity. EBITDA 1 increased by 68% to $27.168m (FY25: $16.134m), with the EBITDA margin2 expanding from 24% to 31%. This margin expansion was driven primarily by the strong growth in high‑margin Additional Assay Charges, together with increased asset utilisation across the Group’s largely fixed‑cost infrastructure as revenue growth outpaced cost increases, with the deployed fleet continuing to generate positive operating cash flow as it scales. The Group reported a total profit after tax of $1.790m (FY25: loss of $8.223m) for the year, reflecting both the trading result and the current year income tax position. The Group recorded an income tax benefit of $3.586m (FY25: $5.343m expense). The year‑on‑year movement in the tax position was primarily driven by deferred tax assets in respect of changes in the estimates of future taxable income due to the maturing of foreign operations and their profitability. A $0.355m impact (FY25: $3.622m) relating to deferred tax assets was not brought to account in respect of carried forward tax losses and temporary differences in foreign jurisdictions. The Group reported a loss before income tax of $1.796m, improving on prior year (FY25: $2.880m). The result reflects continued growth in revenue and improved operating performance, offset by a significant increase in depreciation and amortisation associated with the expanding deployed PhotonAssay™ fleet, together with higher finance costs supporting the Group’s growth. Operating cash flow increased to $17.929m (FY25: $8.832m), doubling on the prior year, driven by the growth in EBITDA and an improvement in cash conversion to approximately 66% of EBITDA (FY25: 55%), supported by a continued focus on the timely collection of customer receivables. This improvement was achieved notwithstanding a higher cash tax outflow of $5.175m during the year (FY25: $3.303m), reflecting the increasingly cash‑generative nature of the deployed fleet as it scales. The Group also continued to invest ahead of its global deployment schedule to support increased manufacturing cadence of PhotonAssay™ units. This forward ordering resulted in capital expenditure of $41.011m (FY25: $68.722m). At the same time, capital commitments were $114.402m (FY25: $66.327m). This ongoing investment in scalability ensures that the Group can continue to meet rising international demand for PhotonAssay™ while strengthening its capacity for future expansion. During the year, the Group executed a new three‑year $200m syndicated debt facility with Australia and New Zealand Banking Group Limited, National Australia Bank Limited and Export Finance Australia. This corporate‑style facility replaces the Group’s previous asset‑based financing on more favourable terms and was drawn to $60.000m prior to 30 June 2026 to extinguish the Group’s existing Commonwealth Bank of Australia facilities. Chrysos accordingly remains well funded, with a cash balance of $25.892m and $140.000m in undrawn debt facilities as at 30 June 2026 (30 June 2025: cash balance of $21.520m and $77.586m in undrawn debt facilities). REVIEW OF OPERATIONS The review of operations is set out within the following sections of the Annual Report 2026. Managing Director and CEO Report and Review of Operations Pa ges 06‑09 Creating Value with Purpose Pa ges 10‑11 Global Footprint Page s 12‑13 Chrysos Journey: Milestones and Models Page 14 Operational Overview Pa ges 15‑16 Governance and Risk Pa ges 17‑26 1. EBITDA (non‑IFRS measure) is calculated as Statutory Loss before income tax adjusted by adding back Finance Costs and Depreciation & Amortisation a nd loss on disposal of Other Assets while deducting Other Income (excluding insurance recovery income and impairment expenses). This measure provides an indication of the Group’s operating performance before the impact of financing and non‑cash depreciation and amortisation expense, as measured internally by the CODM. The Group identifies the Managing Director and CEO as the Chief Operating Decision Maker (CODM). The non‑IFRS measure has not been subject to audit or review. 2. EB ITDA margin (non‑IFRS measure) is calculated as EBITDA divided by Total revenue. This measure provides an indication of the Group’s operating profitability as a proportion of revenue, before the impact of financing and non‑cash depreciation and amortisation expense, as measured internally by the CODM. The non‑IFRS measure has not been subject to audit or review. 28 Chrysos Corporation
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Directors’ Report CONTINUED SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS There were no significant changes in the state of affairs of the Group during the financial year. MATTERS SUBSEQUENT TO THE END OF THE FINANCIAL YEAR No matter or circumstance has arisen since 30 June 2026 that has significantly affected, or may significantly affect the Group’s operations, the results of those operations, or the Group’s state of affairs in future financial years. LIKELY DEVELOPMENTS AND EXPECTED RESULTS OF OPERATIONS The Group’s growth strategy is finalisation and deployment of machinery currently under construction as at 30 June 2026. Further information about likely developments in the operations of the Group and the expected results of those operations has not been included in this report because disclosure of the information would be likely to result in unreasonable prejudice to the Group. ENVIRONMENTAL REGULATION The Group is not subject to any significant environmental regulation under a law of Commonwealth or State within any of the geographical locations in which the Group operates in. The Group has included environmental stewardship in the Audit, Finance and Risk Committee’s charter, to assist and advise the Board on matters relating to the oversight of environment, safety, social and governance matters. As the reporting requirements around environmental activities and impacts continue to evolve, the Group is preparing and developing a sound understanding of activities, in preparation to meet anticipated disclosure requirements. In the meantime, management continues to identify, assess and manage climate‑related risks and opportunities as part of the regular risk assessments presented to the Directors. Noting the resilience inherent in the Group’s globally dispersed business operations. INFORMATION ON DIRECTORS Director Experience and Responsibilities Robert Adamson Non‑Executive Chair BE (Mechanical) (UWA), BE Hons (Ag)(Melb), MBA (AGSM) Mr. Adamson is an experienced Chair and Director with an extensive 30 years of experience as a corporate adviser and investor in the resources and related industries sectors. He has leveraged his deep industry knowledge and commercial acumen, combining it with the outstanding technology developed by the CSIRO to co‑found Chrysos Corporation. Mr. Adamson is Executive Chair of RFC Ambrian Group Limited, RFC Ambrian Limited, and RFC Ambrian Funds Management Pty Ltd. He also serves as Chair of MagnaTerra Technologies Limited, an entity formed through the merger of NextOre Limited and MRead Limited – both spinouts from CSIRO, co‑founded by RFC Ambrian. MagnaTerra is focused on commercialising Magnetic Resonance sensing technology for the precise and safe detection of explosives, narcotics, and minerals. Its subsidiary, MRead, is dedicated to humanitarian demining operations, while the NextOre division specialises in rapid, accurate mineral detection for bulk ore sorting, and for providing critical data for decision‑making and automation systems. Mr. Adamson is also Chair of two other CSIRO spinout companies co‑founded by RFC Ambrian: – Ha dean Energy Limited, which is commercialising tubular solid oxide electrolysis technology for the production of hydrogen and syngas. – FP R Energy Limited, a company developing grid‑scale, particle‑based next‑generation concentrated solar thermal energy systems. Appointed a director in 2016 and appointed Chair in 2019. Annual Report 2026 29
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Directors’ Report CONTINUED Director Experience and Responsibilities Elisha Civil Non‑Executive Director BCom (Murdoch), MBA (UWA), CA, GradDipACG Ms Civil is a highly experienced finance executive with more than 20 years’ experience across the mining, energy and infrastructure sectors, including senior leadership roles with ASX‑listed and government‑owned entities. She brings deep expertise in financial governance, risk management, capital markets and strategic transformation. Ms Civil is currently Chief Financial Officer of SEC Victoria, where she is responsible for financial strategy and governance supporting a major renewable energy investment program. Prior to this, she was Chief Financial Officer of Technology Metals Australia (ASX: TMT), where she played a key role in overseeing the company’s merger with Australian Vanadium (ASX: AVL). Her previous senior finance roles include positions with Fortescue Metals Group (ASX: FMG), Galaxy Resources (ASX: GXY) and Regis Resources (ASX: RRL). Ms Civil is a Chartered Accountant and commenced her career with Ernst & Young, where she spent eight years in audit roles in Perth and Vancouver. She holds a Bachelor of Commerce from Murdoch University and an MBA from the University of Western Australia. Appointed 15 October 2025. Current CFO of SEC Victoria Pty Ltd. Director Experience and Responsibilities Eric Ford Non‑Executive Director GAICD, BSc (Mining Engineering), MSc (Management Science) Mr. Ford has extensive experience in the global mining industry in executive management and directorship roles. He recently served as a Non‑Executive Director with Compass Minerals International (NYSE:CMP), where he was Chairman of their EHSS committee and a member of the Nominating and Governance Committee. Previous roles have included Chairman and CEO of Peabody Energy’s Australian business unit, CEO of Anglo Coal Australia and Executive Director (Operations) with Anglo Platinum and numerous roles across local and international industry associations, including the Minerals Council of Australia. Mr. Ford’s prior experience includes numerous executive roles within globally recognised mining companies during a career that spans almost 50 years in the industry, including previous participation in the Coal Industry Advisory Board to the International Energy Agency. Mr. Ford has led, built, and turned around complex businesses encompassing large workforces in diverse geographies, cultures, currencies, and languages. This has included all lifecycle phases from feasibility through to closure and final rehabilitation in highly regulated and unionised environments across four continents. Appointed 2019. 30 Chrysos Corporation
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Directors’ Report CONTINUED Director Experience and Responsibilities Kerry Gleeson Non‑Executive Director LLB (Hons), FAICD Ms. Gleeson is an experienced Chair and Non‑Executive Director in the industrial, mining and resources sector following a 25‑year career as a senior executive and as a lawyer in both the UK and Australia. Ms Gleeson began her career as a lawyer in UK and Australia, practising for over 15 years in corporate law, with deep experience in venture capital, corporate finance, IPOs and mergers and acquisitions. After leaving professional legal practice, Ms Gleeson had a successful executive career as a member of the Group Executive at Incitec Pivot Limited (now known as Dyno Nobel). Ms Gleeson has held a number of non‑executive director roles in the mining industry, including as a non‑executive director of gold miner and developer, St Barbara Limited (ASX; SBM) since 2015, and as Chair since 2023. More recently she was appointed as a non‑executive director of Downer EDI (ASX: DOW). Through her career, Ms Gleeson brings significant industry experience with regard to international operations, strategy, risk and crisis management, safety and sustainability, legal and corporate governance, corporate and regulatory affairs. Ms Gleeson is a Fellow of the Australian Institute of Company Directors. Appointed 2021. Directorships of listed companies over the past three years Dates St Barbara Ltd (ASX:SBM) May 2015 – Current Australian Strategic Materials (ASX:ASM) February 2022 – Current Downer EDI (ASX: DOW) 1 September 2025 – current Director Experience and Responsibilities Greg Holt Non‑Executive Director GAICD, B.Com, MA, MBA Mr. Holt is a senior executive with an international career spanning over 40 years across the logistics, industrial services, mining contracting and engineering industries. He is also an experienced Company Director (GAICD) and Board member, having previously held Board positions with Brambles companies in the United Kingdom, and Swire companies in Australia and the United States. Mr. Holt’s strong track record includes driving and finalising successful global expansion and business optimisation projects. From 2021 to 2026 Mr. Holt was CEO of Swire Water, which is a member of the Swire Group of Companies, a business with which Mr. Holt has held Managing Director or Chief Executive Officer positions since 2010. Prior to Swire, Mr. Holt worked within Brambles in senior executive positions across several of its subsidiaries and helped lead the transition of Brambles into BIS as part of the KKR acquisition. Appointed 2023. Annual Report 2026 31
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Directors’ Report CONTINUED Director Experience and Responsibilities Dirk Treasure Managing Director & Chief Executive Officer MComm (Sydney), BSc (Murdoch), MAusIMM, MAICD Mr. Treasure has been an active member of the mining industry since 2006. He is a metallurgist with both technical and corporate experience, and a background in mining related research and development. Mr. Treasure spent seven years in novel metallurgical process design, employed by service providers and mining companies directly. He has designed, built, and managed pilot plants across various deployment scales for hydrometallurgical, pyrometallurgical and electrolytic technologies. During his time as Operations Manager of ABR Process Development, he oversaw development of technology from conceptual design to commercial application. His technical experience includes working as the high pressure acid leach Metallurgist for First Quantum’s Ravensthorpe Nickel Operations, project technologist for Metals Finance Australia and Operations Manager for ABR Process Development. He is also a member of AusIMM and AICD. As Chrysos’ Founding CEO, Mr. Treasure has led the Group since operations began in 2017 and, while working within RFC Ambrian, he oversaw Chrysos’ seed capital raising, Group formation and managed the acquisition of the underlying PhotonAssay™ technology from Australia’s national science agency, CSIRO. Appointed 2022. COMPANY SECRETARY Name Brett Anthony Coventry Qualifications BAcc, GDip Co Sec Prac, MBA (Deakin), FGIA, FCIS, GAICD Experience and expertise See next section (Senior Management) 32 Chrysos Corporation
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Directors’ Report CONTINUED SENIOR MANAGEMENT Manager Experience and Responsibilities Dirk Treasure Managing Director & Chief Executive Officer MComm (Sydney), BSc (Murdoch), MAusIMM, MAICD See Directors Section above. Brett Coventry Chief Financial Officer & Company Secretary BAcc, GDip Co Sec Prac, MBA (Deakin), FGIA, FCIS, GAICD Mr. Coventry is an accomplished CFO, Company Secretary and Director, with over 25 years’ experience in senior finance, banking and operational roles across private and publicly owned businesses. He has led cross‑functional teams throughout Asia‑Pacific, North America and Europe in listed, unlisted and private SaaS, technology, Fast Moving Consumer Goods (FMCG) and financial services companies. He is a Fellow of the Governance Institute of Australia, and a member of the Australian Institute of Company Directors. Prior to joining Chrysos in early 2020, Mr. Coventry was involved in steering entrepreneurial technology companies through successful international expansion and market growth campaigns. This includes roles as Chief Financial Officer at Catapult Group International Limited (ASX:CAT) and Money3 Limited (ASX:MNY (now Solvar Ltd (ASX:SVR)), which also included the management of the Initial Public Offering of Catapult Group International Limited. MEETINGS OF DIRECTORS The number of meetings of the Company’s Board of Directors (‘the Board’) and Committees of Directors held during the year ended 30 June 2026, is as follows: Director’s Name Board Meetings Audit, Finance & Risk Committee Remuneration & Nominations Committee A B A B A B Robert Adamson 10 10 4 4 – – Elisha Civil 6 5 4 4 – – Eric Ford 10 10 – – 7 7 Kerry Gleeson 10 9 8 8 7 7 Gregory Holt 10 10 7 7 6 6 Dirk Treasure 10 10 – – – – Column A is the number of meetings the Director was entitled to attend; and Column B is the number of meetings the Director attended. Annual Report 2026 33
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Directors’ Report CONTINUED SHARES UNDER OPTION AND PERFORMANCE RIGHT No person entitled to exercise the Options or Performance Rights had or has any right by virtue of the Option or Performance Right to participate in any share issue of the Company or of any other body corporate. Unissued ordinary shares of Chrysos Corporation Limited under Option at the date of this report as follows: Date Options Granted Expiry Date Exercise Price of Option Under Rights 24‑September‑2021 23‑September‑2026 $4.50 222,500 222,500 Unissued ordinary shares of Chrysos Corporation Limited under Performance Rights at the date of this report are as follows: Date Performance Rights Granted Expiry Date Exercise Price of Right Under Rights 19‑August‑2024 19‑August‑2029 $0.00 543,722 21‑October‑2024 21‑October‑2029 $0.00 94,921 9‑October‑2025 29‑June‑2030 $0.00 101,746 25‑November‑2025 4‑December‑2030 $0.00 543,476 26‑November‑2025 4‑December‑2030 $0.00 67,688 1,351,553 During the financial year ended 30 June 2026 the Group issued 712,910 Performance Rights as part of the Employee Share Program with an exercise price of $0.00 and a weighted average fair value of $6.71. During the financial year 20,771 performance rights were forfeited. Since the end of the financial year and up to the date of this report, 10,000 ordinary shares have been issued on the exercise of options at an exercise price of $4.50. All Options and Rights expire on their expiry date. INDEMNITY AND INSURANCE OF OFFICERS The Company’s constitution provides that, to the extent permitted by law, the Company must indemnify a person who is or has been an Officer of the Company against any liability incurred by that person as such an Officer and for costs and expenses incurred by that person in defending proceedings. The Constitution further provides that the Company may pay a premium in respect of a contract insuring a person who is or has been an Officer of the Company against such liabilities. The Group has entered into deeds of access, indemnity and insurance with current and former Officers. In addition, the Group has paid an insurance premium for Directors’ and Officers’ liability policies. These policies insure against legal costs that may be incurred in defending civil or criminal proceedings that may be brought against the Officers in their capacity as Officers of the Group, and any other payments arising from liabilities incurred by the Officers in connection with such proceedings, other than where such liabilities arise out of conduct involving a wilful breach of duty by the Officers or the improper use by the Officers of their position or of information to gain advantage for themselves or someone else to cause detriment to the Group. Details of the amount of the premium paid in respect of insurance policies are not disclosed as such disclosure is prohibited under the terms of the contract. 34 Chrysos Corporation
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Directors’ Report CONTINUED INDEMNITY AND INSURANCE OF AUDITOR Chrysos has not, during or since the end of the financial year, indemnified or agreed to indemnify the auditor of the Group or any related entity against a liability incurred by the auditor. PROCEEDINGS ON BEHALF OF THE GROUP No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on behalf of the Group, or to intervene in any proceedings to which the Group is a party for the purpose of taking responsibility on behalf of the Group for all or part of those proceedings. ROUNDING OF AMOUNTS The Group is of a kind referred to in Corporations Instrument 2016/191, issued by the Australian Securities and Investments Commission, relating to rounding off. Amounts in the consolidated financial statements and Directors’ report have been rounded off in accordance with that Corporations Instrument to the nearest thousand dollars, or in certain cases, the nearest dollar. AUDITOR’S INDEPENDENCE DECLARATION A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out immediately after this Directors’ report and forms part of the Directors’ report. NON‑AUDIT SERVICES The Group appointed KPMG on 27 April 2021 after a review process. Mr. Paul Cenko is the lead audit partner, with the next rotation of the lead partner for Chrysos Corporation Limited is planned to occur after the completion of the 30 June 2026 financial year audit. During the year KPMG, the Group’s auditor, has not performed any other services in addition to the audit and review of the financial statements. The Board in considering any non‑audit services to be provided by the auditor, has a policy to satisfy itself that the provision of any non‑audit services the auditor will be compatible with, and will not compromise, the auditor independence requirements of the Corporations Act 2001 for the following reasons: – al l non‑audit services are subject to the corporate governance procedures adopted by the Group and are reviewed by the Audit, Finance and Risk Committee to ensure they do not impact the integrity and objectivity of the auditor; and – th e non‑audit services provided do not undermine the general principles relating to auditor independence as set out in APES 110 Code of Ethics for Professional Accountants , as they are not to involve reviewing or auditing the auditor’s own work, acting in a management or decision making capacity for the Group, acting as an advocate for the Group or jointly sharing risks and rewards. In accordance with the International Ethics Standards Board for Accountants (IESBA) and the Australian Code, any future engagements for non‑audit services, will be approved prior to commencement by the Group’s, Audit, Finance and Risk Committee. Annual Report 2026 35
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Directors’ Report CONTINUED AUDITOR KPMG has been appointed in accordance with section 327 of the Corporations Act 2001 . CORPORATE GOVERNANCE Our Corporate Governance Statement, which is available at https://chrysoscorp.com/investor ‑ce ntre/corporate‑go vernance/, discloses the extent to which the Group has complied with the Australian Securities Exchange Corporate Governance Council’s ‘Corporate Governance Principles & Recommendations – 5th edition’. This report is made in accordance with a resolution of Directors, pursuant to section 298(2)(a) of the Corporations Act 2001 . On behalf of the directors Dirk Moore Treasure Ro bert Henry Richard Adamson Director D irector 10 August 2026 10 A ugust 2026 36 Chrysos Corporation
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Remuneration Report – Audited LETTER FROM THE REMUNERATION & NOMINATIONS COMMITTEE CHAIR On behalf of the Board, I am pleased to present Chrysos Corporation’s Remuneration Report for the year ended 30 June 2026. FY26 was a significant year for Chrysos. It marked ten years since the Company was founded and our fifth year as an ASX‑listed business – a period over which Chrysos has moved from an emerging technology company to a global operating business. It was also our strongest financial year to date. Against that backdrop, the Group reported the following outcomes for the year: – Rev enue increased 33% to $88.1 million (FY25: $66.1 million). – EB ITDA1 increased 68% to $27.2 million (FY25: $16.1 million), representing a margin of 31%2. – Se ven new PhotonAssay™ units were deployed, including our first in South America, taking the fleet to 46 units operating or deploying across 12 countries, with 83 units contracted across 23 countries. – Co rporate debt was refinanced through a new A$200 million syndicated facility, strengthening the balance sheet and providing funding capacity for further expansion. – Fo undations were laid for in‑house manufacturing, including location, operating model, organisation design and supply chain. – Th e Group recorded zero notifiable 3 safety incidents, with TRIFR 4 of 2, consistent with FY25, employee engagement of 88% and leadership effectiveness of 89%, each up two points. Pay for performance in FY26 Measured from our listing in 2022, revenue has grown 6.2 times and EBITDA1 13 times, while annual sample throughput has increased more than five‑fold, from 2.2 million samples in FY22 to 11.3 million in FY26. The FY26 remuneration outcomes reflect this performance. The remuneration framework for FY26 was unchanged from FY25, comprising fixed and at‑risk remuneration. Fixed remuneration was held flat for a second year, with the MD & CEO’s TFR remaining at $595,000 and no change for the CFO & Company Secretary at $431,328. All STI gates were met. The Group maintained a strong safety performance, with no lost time injuries in the final month of the year and no regulatory reportable incidents, and exceeded its key financial hurdles on EBITDA 1 and EBITDA margin2. Strong performance across all measures resulted in an STI award to the MD & CEO of 98.1% of maximum opportunity, with the CFO & Company Secretary awarded 89.5%. In reaching these outcomes the Board considered the scorecard results alongside the quality and durability of the year’s earnings, the safety record and the experience of shareholders over the same period, and was satisfied that no adjustment was warranted. The FY24 LTI grant reached the end of its three‑year performance period on 30 June 2026 and was tested against the S&P/ASX 300 Industrials Total Return Index. The Company delivered positive shareholder returns over the period, and the value the market ascribes to Chrysos grew substantially across the three years, to a level well beyond that at the time of grant. Its TSR was nonetheless below the index threshold set for vesting. No performance rights vested and those rights have lapsed. The FY25 and FY26 grants remain on foot and will be tested at 30 June 2027 and 30 June 2028. The FY25 LTI and FY26 LTI remain on foot and will be tested only at the end of their respective performance periods, 30 June 2027 and 30 June 2028. The Board is satisfied that these are the appropriate outcomes. A strong STI award in a year of strong earnings, deployment and safety performance, together with nil vesting under the FY24 LTI where relative shareholder returns fell short of the benchmark, demonstrates that the framework operates as intended and rewards performance only where it has been delivered. Further details are set out in sections 8 and 9 of the Remuneration Report. 1. EBITDA (non‑IFRS measure) is calculated as Statutory Loss before income tax adjusted by adding back Finance Costs and Depreciation & Amortisation a nd loss on disposal of Other Assets while deducting Other Income (excluding insurance recovery income and impairment expenses). This measure provides an indication of the Group’s operating performance before the impact of financing and non‑cash depreciation and amortisation expense, as measured internally by the CODM. The Group identifies the Managing Director and CEO as the Chief Operating Decision Maker (CODM). The non‑IFRS measure has not been subject to audit or review. 2. EB ITDA margin (non‑IFRS measure) is calculated as EBITDA divided by Total revenue. This measure provides an indication of the Group’s operating profitability as a proportion of revenue, before the impact of financing and non‑cash depreciation and amortisation expense, as measured internally by the CODM. The non‑IFRS measure has not been subject to audit or review. 3. No tifiable incidents are workplace incidents that meet legislative reporting thresholds and are required to be reported to the relevant regulatory authority within prescribed timeframes. 4. To tal Recordable Injury Frequency Rate (TRIFR) represents the number of new recordable workplace injuries per one million hours worked during the reporting period. Recordable injuries include lost time injuries, medical treatment injuries and restricted work injuries that meet Chrysos’ incident recording criteria. Annual Report 2026 37
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Remuneration Report – Audited CONTINUED The FY27 remuneration framework During the year the Board undertook a comprehensive review of both the remuneration framework and remuneration levels. The review was overseen by the Remuneration & Nominations Committee and supported by independent adviser Godfrey Remuneration Group, which provided benchmarking insights on framework, design and quantum. The objective of the review was to ensure the framework fully supports the execution of the Group’s strategy as the business grows – more jurisdictions, greater operational complexity, in‑house manufacturing capability and a broader set of strategic objectives. As an outcome of the review, the Board approved the following changes for FY27: – ST I – while the scorecard has been reset, retaining the existing gates, with a greater focus on core financial metrics and the operational drivers that support them. – LT I – plan design is unchanged. For FY27 the company will adopt updated equity plan rules which will be presented at the 2026 AGM. In addition, performance will be measured against two equally weighted hurdles: absolute TSR, retained from FY26, and relative TSR against the S&P/ASX 300 Index. – Fi xed remuneration – TFR for the MD & CEO will increase to $714,000 and for the CFO & Company Secretary to $467,000, each inclusive of superannuation. – Fo r further details refer to section 7 Maximum STI and LTI opportunities are unchanged, with an adjustment to the target opportunities for the CFO & Company Secretary. The Board considered that this was an appropriate point in the Company’s development to reset fixed remuneration. Chrysos has moved from an early‑stage listed company to a global operating business, and the scale, geographic reach and complexity of the executive roles have changed with it, particularly those of the MD & CEO. These adjustments reflect that shift in the maturity of the business. In setting these levels the Board weighed benchmark data alongside the impact of each role, demonstrated performance and the need to retain key talent; benchmarking informed, but did not determine, the Board’s judgement, and each package was positioned at the level the Board considered appropriate for the role. With the majority of each package remaining at risk against demanding hurdles, remuneration outcomes remain closely linked to performance. Alignment with shareholders The Board has high expectations of the executive team over the years ahead, and the framework has been designed so that executives share in the outcomes experienced by shareholders. Absolute TSR ensures that reward follows only real and sustained growth in the value of an investment in Chrysos, while the relative TSR measure, Index TSR tests that growth against the broader market. Neither measure provides for reward where returns are flat or negative. We were grateful for the confidence shareholders showed at the 2025 Annual General Meeting, where 99.93% of votes were cast in favour of the FY25 Remuneration Report. On behalf of the Board, I thank the MD & CEO, the leadership team and every employee for a year of exceptional delivery, and my fellow directors for their work through the framework review. Ten years on from its founding, and five years as a listed company, Chrysos enters FY27 with the foundations for its next stage of growth in place and with high expectations of what the team can deliver. The Board will keep the framework under review as the Company grows, will continue to engage openly with shareholders on remuneration, and looks forward to your continued support at the FY26 Annual General Meeting. Kerry Gleeson Chair, Remuneration & Nominations Committee 38 Chrysos Corporation
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Remuneration Report – Audited CONTINUED The Remuneration Report (as part of the Annual Report) complements, and should be read in conjunction with, the information contained in the corresponding Corporate Governance Statement, which is available at https://chrysoscorp.com/investor‑centre/ announcements/. Together these documents highlight our commitment to a high‑performance culture aimed at strategic growth and value creation. This report has been prepared in accordance with section 300A of the Corporations Act 2001 (Cth) and is audited as required by Section 308(3C) of the Act. Contents 1. Key Management Personnel 40 2 . FY 26 Remuneration Summary 41 3 . Re muneration Governance 42 4 . Ex ecutive Remuneration Strategy 43 5 . Ex ecutive Remuneration Outcomes 46 6 . Re lationship Between Remuneration and Group Performance 51 7 . Lo oking Ahead to FY27 53 8 . Ex ecutive Remuneration Statutory Disclosure 55 9 . No n‑Executive Director Remuneration 58 1 0. Ke y Management Personnel Shareholdings 60 Annual Report 2026 39
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Remuneration Report – Audited CONTINUED 1. KEY MANAGEMENT PERSONNEL The named Key Management Personnel (KMP) in this report are those individuals with the authority and responsibility for planning, directing, and controlling the activities of the business. The KMP cohort for the financial year ended 30 June 2026 is shown below, and each of the identified KMP members in the cohort was a KMP member for the entire period unless otherwise stated. 1.1 Key management personnel during FY26 Name Role Appointment Date Type Status Related Information Non‑Executive Directors Robert Adamson Non‑Executive Chair Appointed 2016 Non‑Independent Current Directors’ Report, Corporate Governance Statement Elisha Civil Independent Non‑Executive Director Appointed 15 October 2025 Independent Current Directors’ Report, Corporate Governance Statement Eric Ford Independent Non‑Executive Director Appointed 2019 Independent Current Directors’ Report, Corporate Governance Statement Kerry Gleeson Lead Independent Non‑Executive Director Appointed 2021 Independent Current Directors’ Report, Corporate Governance Statement Greg Holt Independent Non‑Executive Director Appointed 2023 Independent Current Directors’ Report, Corporate Governance Statement Executives Dirk Treasure Managing Director and Chief Executive Officer Appointed 2022 Executive Current Sections 5 and 8 Brett Coventry Chief Financial Officer and Company Secretary Appointed 2020 Executive Current Sections 5 and 8 40 Chrysos Corporation
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Remuneration Report – Audited CONTINUED 2. FY26 REMUNERATION SUMMARY FY26 was an important year in Chrysos’ development. The Group continued to progress from an early‑stage listed company into a global operating business. Since its IPO in 2022, Chrysos has grown from 33 deployed or contractually committed PhotonAssay™ units with deployments across two countries to 83 deployed or contractually committed PhotonAssay™ units with deployments across 12 countries, broadened its customer base across the major global laboratory groups and increased direct engagement with leading gold miners. This larger footprint brings more complexity, more governance requirements and a stronger need to retain experienced leaders who can execute the growth plan. Chrysos entered FY26 with a remuneration framework that had been reset in FY25 after the first full review since listing. That review reflected the Group’s larger scale, broader global footprint and need to retain experienced leaders through the next stage of growth. The remuneration framework reflects that stage of growth. The FY25 recalibration positioned executive TFR closer to market median and reset the balance between fixed and at‑risk pay. In FY26, the Board reviewed the framework and made no change to executive fixed remuneration or to the overall structure. For FY26 Board considered the framework remained fit for purpose while the business scales globally. Area FY26 Summary Related Information Total Fixed Remuneration (TFR) No change to Executive KMP TFR in FY26. – MD & C EO TFR remained $595,000. – CF O and Company Secretary TFR remained $431,328. – In e ach case consistent with that set in 2025. Sections 1 and 5 STI outcome MD & CEO: STI Outcome was 98.1% of his total STI opportunity. CFO & Company Secretary: STI outcome was 89.5% of his STI total opportunity. – Th e FY26 STI was subject to Group performance against a scorecard including financial measures focused on EBITDA and EBITDA margin. – In dividual measures focused on financing, organisational capability, leadership, governance, risk management and strategic execution. Section 5.2 LTI outcome Nil LTI vesting – The FY24 Plan three‑year performance period matured at 30 June 2026. – Th e Company’s total shareholder return over the period was below the S&P/ASX 300 Industrials Total Return Index, which was the key metric for the FY24 LTI Plan and no Performance Rights vested. – Th e FY24 grant lapsed in full. – FY 25 and FY26 grants remain on foot. Section 5.3 NED remuneration No increase to Non‑Executive Director fees in FY26. Approved fee pool remains $950,000. Section 9 Annual Report 2026 41
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Remuneration Report – Audited CONTINUED 3. REMUNERATION GOVERNANCE 3.1 Remuneration philosophy and principles The Board’s remuneration philosophy is simple: fixed pay should be competitive for the role and market, and a meaningful portion of total reward should depend on performance. Incentives should reward outcomes that matter to shareholders and support responsible growth. Principle What it Means for Chrysos Ownership alignment A material portion of executive reward is delivered through equity and depends on shareholder returns. Performance differentiation STI and LTI outcomes should vary with financial, strategic and individual performance. Strategic retention Remuneration should help retain leaders with the experience needed to scale a global operating business. Market competitiveness The Board ensures, through its annual review, the remuneration framework and practices are market competitive and aligned with shareholder interests, and underpins the Group’s stage of growth and strategies. Further detail set out in section 4. 3.2 Remuneration governance The roles and responsibilities of the Board, the Remuneration & Nominations Committee, Management, and use of external consultants in relation to remuneration governance, are outlined below. Board The Board has an active role in governance, oversight and evaluation of the remuneration approach including the approval of: – Gro up remuneration framework; – Di rector and specific Executive remuneration; and – In centive performance standards. This approach is designed to align and keep in mind: – Th e creation of value for the Group’s shareholders; – Th e Group’s values, purpose, strategic objectives and risk appetite; and – Th e interests of Executives. Remuneration & Nominations Committee The Remuneration & Nominations Committee (the Committee) was established by the Board and operates under a Charter. Its role is to assist and advise the Board on matters relating to the overall remuneration strategies and policies of the Group, including the remuneration arrangements of the Managing Director & Chief Executive Officer, other Executives and Non‑Executive Directors. The Committee oversees and reviews the Group’s remuneration strategy and its policies and practices to ensure remuneration arrangements promote a high‑performance culture, are equitable and aligned to the long‑term interest of shareholders and support the Group’s overall purpose and values. The Committee is responsible for making recommendations to the Board on all aspects of remuneration arrangements for KMP and, in doing so, may take into consideration information provided by other Board committees on a range of matters, including culture, diversity, safety, environmental performance, governance, financial and risk management. In addition, as part of its remit the Committee also has oversight on organisational capability and effectiveness, skills, training and development, succession planning for critical roles and the diversity, equity and inclusion strategies. The Committee is comprised entirely of Independent Non‑Executive Directors – Kerry Gleeson (Chair), Greg Holt (Member) and Eric Ford (Member). Additional information regarding the Committee’s roles and responsibilities can be found in the Committee Charter at https://chrysoscorp.com/investor‑centre/corporate‑governance/. 42 Chrysos Corporation
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Remuneration Report – Audited CONTINUED Management Management is responsible for implementing and continuously improving remuneration policies and practices. It may provide the Remuneration & Nominations Committee with information and insights to assist it in the discharge of its duties. The Managing Director & Chief Executive Officer may make recommendations to the Committee regarding the performance and remuneration of other Executives and has delegated authority to approve the remuneration of employees outside of the Senior Executive team within the business. External Remuneration Consultants The Board periodically engages independent external advisers to assist in reviewing the Company’s remuneration framework and governance practices. Any such engagements are managed directly by the Remuneration & Nominations Committee, with appropriate protocols in place to ensure advice is free from undue influence by members of Executive KMP. During FY26, on matters relating to FY27, the Committee engaged Godfrey Remuneration Group (GRG) as independent remuneration consultant. GRG provided market benchmarking, advice on executive incentive plan design and input on non‑executive director fees. GRG was engaged by, and reported directly to, the Remuneration & Nominations Committee, with all remuneration decisions remaining the responsibility of the Board. The Board is satisfied the advice and recommendations were free from undue influence by management, and that appropriate arrangements were in place to maintain GRG’s independence. Fees paid to GRG during FY26 totalled $104,500. Remuneration supported by shareholders At the 2025 Annual General Meeting held on 24 November 2025, shareholders adopted the FY25 Remuneration Report following a poll. Of the votes cast, 69,926,413 votes (99.926%) were in favour of the resolution. Through the Remuneration & Nominations Committee, the Board actively monitors market practices and recommendations from industry participants on remuneration structure and disclosure. It may amend the Remuneration Framework accordingly at any time. 3.3 Board review, conduct and discretion Before approving incentive outcomes, the Board reviews whether the formulaic outcomes remain appropriate having regard to overall Group performance, conduct, risk, compliance and shareholder experience. 4. EXECUTIVE REMUNERATION STRATEGY For FY26, no changes were made to the Chrysos’ remuneration strategy. It continues to be designed to support the Group’s long‑term growth trajectory and to align the interests of Executives and shareholders. The remuneration structure is built to reinforce operational excellence, incentivise delivery of strategic milestones, and ensure key talent remains engaged and rewarded in line with performance outcomes. The guiding principles that underpin the Executive remuneration strategy are outlined below: Chrysos Executive Remuneration Objectives Attract, motivate and retain the Executive talent required at each stage of business growth. An appropriate balance of ‘fixed’ and ‘at risk’ components. Creation of award differentiation to drive high‑performance culture and behaviour. Shareholder value creation through the alignment of Executive performance and rewards. Chrysos’ remuneration strategy supports a high‑performance culture by balancing fixed and at‑risk components, encouraging Executives to exceed key performance objectives and deliver the overall business strategy. All at‑risk components of remuneration packages are closely tied to measures that align with the key components of the Group’s business strategy in both the short and long‑term. Executive remuneration is aligned with shareholder outcomes, as the STI and LTI link personal remuneration results with the achievement of targets that drive Group performance and shareholder return. The mix of fixed and at‑risk remuneration varies according to the role of each Executive, with the highest level of at‑risk remuneration applied to those roles that have the greatest potential to influence and deliver Group outcomes and drive shareholder return. Annual Report 2026 43
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Remuneration Report – Audited CONTINUED In setting the remuneration strategy, the Board is cognisant of the link between remuneration and the setting and maintaining of a positive company culture. All STI and LTI awards to Executive KMPs are subject to a clawback mechanism and malus provisions. 4.1 Remuneration structure The FY25 remuneration structure comprising of fixed and variable remuneration was carried forward into FY26. Variable remuneration comprised both short‑term and long‑term incentives. Short‑term incentives are intended to be awarded in the form of a cash award based on performance measured against a STI scorecard, which, in turn, drives significant achievements and supports a high‑performance culture. Executive remuneration comprises: – To tal Fixed Remuneration (TFR); – Sh ort‑Term Incentives (STI); and – Lo ng‑Term Incentives (LTI). When considering the remuneration package components, it was important that the right balance between “at risk” (STI and LTI) and fixed remuneration was achieved to balance the interests of Executives and Shareholders. Each of these components is outlined in the table below. Fixed Component “At Risk” Components Total Fixed Remuneration Short‑Term Incentive Long‑Term Incentive Purpose Competitive base remuneration to attract and retain high‑quality talent appropriate to the business scale, complexity and maturity. Motivate and reward delivery of strong operational and financial performance against the annual plan. Motivate and reward outcomes that grow long‑term shareholder value. Link to Strategy Base remuneration aims to provide fair and competitive pay in recognition of day‑to‑day accountabilities and responsibilities in implementing the business strategy. Rewards achievement of key strategic, financial and operational objectives on an annual basis consistent with longer‑term priorities and goals. Rewards successful delivery of longer‑term strategies and sustained shareholder value creation by aligning Executive outcomes to shareholder value. Form Cash salary, superannuation and any salary‑sacrificed items. Cash payment or shares at the Board’s discretion. Prior to the 2022 Initial Public Offering (IPO), the Group used Options to incentivise performance and retention. As part of the process leading up to the IPO, a Performance Rights Plan was put in place and subsequently Performance Rights have been issued as the vehicle for Long‑Term Incentive, with vesting at the three‑year mark subject to the Group achieving performance measures, detailed in the following table. 44 Chrysos Corporation
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Remuneration Report – Audited CONTINUED Fixed Component “At Risk” Components Total Fixed Remuneration Short‑Term Incentive Long‑Term Incentive Approach in FY26 Reviewed annually. No change in FY26. In setting remuneration for Executives, the Remuneration & Nominations Committee considers relevant industry trend data and other remuneration information, including market salary surveys and benchmarking. Reviewed annually based on: – re sponsibilities of the role; – kn owledge, skills and experience required for the position; – ind ividual performance; and – th e requirement to attract and retain the right person for the role. This approach remains consistent with FY25. Refer to Section 8 for statutory remuneration disclosures. CEO maximum 100% of TFR. CFO maximum 70% of TFR. The STI is assessed against a scorecard of annual corporate and personal objectives the Board sets, considering individual metrics and behaviours within the control of each Executive. Gates applying to safety, ESSG, financial auditing/reporting and labour law compliance must be achieved for a STI award to be considered for payment. Managing Director & Chief Executive Officer – Ma x. quantum = 100% of TFR ($595,000). – Sc orecard KPIs are weighted: – Gro up performance (88%): EBITDA (70%) and EBITDA Margin (18%); and – Ind ividual performance (12%). Chief Financial Officer & Company Secretary – Ma x. quantum = 70% of TFR ($301,930). – Sc orecard KPIs are weighted: – Gro up performance (70%): EBITDA (50%) and EBITDA Margin (20%); and – Ind ividual performance (30%). Three‑year performance period. FY26 LTI Plan uses Absolute Total Shareholder Return (aTSR). The FY26 Performance Rights are subject to a performance hurdle based on the Company’s TSR over the three‑year period to 30 June 2028, replacing the Index TSR measure used for FY24 and FY25. Managing Director & Chief Executive Officer – Ma x. quantum = 200% of TFR. Chief Financial Officer & Company Secretary – Ma x. quantum = 125% of TFR. Vesting scale as follows. – Th reshold: 25% vesting at 5%aTSR CAGR. – Ta rget: 50% vesting at 10% aTSR CAGR. – St retch: 100% vesting at 20% aTSR CAGR. – pr o‑rata between threshold ‑target and target‑st retch. Further detail on the FY26 vesting scale is set out in section 5.3. The awarding of any Short‑Term Incentive (STI) and Long‑Term Incentive (LTI) is subject to the performance outcomes achieved. Subject to the Listing Rules, the Board retains absolute discretion with regard to making an assessment on the LTI, and may withhold, or cancel unpaid STI or LTI awards where there is evidence of: – Fr audulent or dishonest behaviour; – Se rious misconduct or defalcation; or – A mat erial misstatement in the Group’s financial results. The Long‑Term Incentive (LTI) is a performance‑based component of Executive remuneration designed to align Executive KMP rewards with longer‑term Group performance and shareholder value. Executive KMP and eligible executives participate in the LTI under shareholder‑approved plans. LTI awards involve the granting of Performance Rights under the Company’s Employee Equity Plan Rules. These awards are made within the framework approved by shareholders and are not subject to Board discretion outside those parameters. Unless otherwise determined under the plan rules, Performance Rights: – Ar e subject to a three‑year vesting period; – Ar e tested at the end of the period against performance hurdles set by the Board at the time of grant; and – Req uire continuity of service to vest (subject to good leaver provisions). Annual Report 2026 45
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Remuneration Report – Audited CONTINUED All STI and LTI awards to Executive KMPs are subject to malus and clawback provisions to ensure alignment with long‑term shareholder interests and responsible conduct. 4.2 FY26 remuneration mix The Remuneration & Nominations Committee has considered the remuneration mix both from a “Target” and “Maximum” opportunity perspective to ensure KPIs that are set are challenging to achieve, and any over‑performance paid is a result of significant and measurable achievement. 0% 20% 40% 60% 80% 100% CFO & Company Secretary – at maximum CFO & Company Secretary – at target Managing Director & CEO – at maximum Managing Director & CEO – at target Fixed remuneration (%) STI (at risk) (%) LTI (at risk) (%) 40% 40% 20% 45% 30% 25% 34% 24% 42% 25% 25% 50% The Board considers both percentage mix and total potential value when setting remuneration. 5. EXECUTIVE REMUNERATION OUTCOMES 5.1 FY26 total fixed remuneration (TFR) The approach to FY26 KMP Executive remuneration remains consistent with the FY25 Executive Remuneration policy, in that it seeks to motivate individuals who actively engage with, and excel in, a high‑performance culture. It also ensures, alignment with the Group’s overall strategic objectives. This approach aims to: – att ract, reward and motivate Executives based on their position and responsibility relative to business scale and complexity; – pr ovide competitive remuneration practices appropriate to the Group’s needs; and – dr ive the execution of the Group’s strategy. No changes were made to Executive KMP fixed remuneration in FY26. The Board considered the current packages appropriate for the size, complexity and performance expectations of the Group following the FY25 market review, and was satisfied that they remain appropriately positioned relative to market and performance expectations. Executive KMP FY26 TFR Annual Base Salary Super‑ annu ation1 Related Information Dirk Treasure $595,000 $565,000 $30,000 Executive contract, Section 5.4 Brett Coventry $431,328 $401,328 $30,000 Executive contract, Section 5.4 1. In line with the Australian Superannuation Guarantee, KMP contributions are capped at $30,000. The statutory remuneration outcome for FY26 — including total STI, share‑based payments and the resulting total remuneration for each Executive — is set out in full in Section 8.1. 46 Chrysos Corporation
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Remuneration Report – Audited CONTINUED 5.2 FY26 short‑term incentive (STI) The FY26 STI rewards performance against group and individual measures. The Board set measures that focus management on profitability, margin discipline, execution and leadership. Short‑Term Incentive (STI) outcomes Gates applying to safety, governance and compliance must be achieved for an STI award to be considered for payment. MD & CEO – 98.1% of total STI opportunity awarded. CFO and Company Secretary 89.5% of total STI opportunity awarded. STI outcomes reflect our high‑performance culture, with KPIs designed to push the boundaries of operational excellence and financial performance. The FY26 STI was subject to performance against Key Performance Indicators (KPIs) for Group performance and Individual performance, and included financial and non financial measures on a scorecard. For the MD & CEO, the total STI opportunity was 100% of FY26 TFR. Of his total STI opportunity, the FY26 scorecard comprises: – EB ITDA (70%); – EB ITDA Margin (18%); and – Ind ividual performance (12%). For the CFO & Company Secretary total STI opportunity was 70% of FY26 TFR. Of his – total STI opportunity, the FY26 scorecard, comprises: – EB ITDA (50%); – EB ITDA Margin (20%); and – Ind ividual performance (30%). For Group performance: – EB ITDA of $27.2m was achieved. The FY26 EBITDA performance hurdle comprised a threshold of $20.0m, target of $23.5m and maximum of $27.0m, with outcomes determined on a pro‑rata basis between each hurdle. As EBITDA exceeded the maximum, this resulted in 100% achievement of the EBITDA component for both the MD & CEO (70% weighting) and the CFO & Company Secretary (50% weighting); and – EB ITDA Margin of 30.8% was achieved. The FY26 EBITDA Margin performance hurdle comprised a threshold of 22.0%, target of 22.6% and maximum of 27.5%, with outcomes determined on a pro‑rata basis between each hurdle. As the margin exceeded the maximum, this resulted in 100% achievement of the EBITDA Margin component for both the MD & CEO (18% weighting) and the CFO & Company Secretary (20% weighting). And in each case, the incentive awarded was relative to achievement. For individual performance, the Board assessed the performance against the KPIs set and in the case of the: – MD & C EO, 84.4% of the STI payable against the individual KPIs was awarded relative to achievement. The individual KPIs were established to support the Group’s strategic growth objectives, including growth objectives, including finance, business growth and governance and risk; and – CF O & Company Secretary, 65.0% of the STI payable against the individual KPIs was awarded relative to achievement. The individual KPIs were established to support the Group’s continued growth and country entry, governance, financial stewardship and risk management. Annual Report 2026 47
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Remuneration Report – Audited CONTINUED Individual performance FY26 Maximum Opportunity STI Actual STI Included in Remuneration Group STI Awarded (as a % of Total STI) Individual STI Awarded (as a % of Total STI) % of Maximum Potential Total STI Earned % of Maximum Potential Total STI Foregone Available ($) Achieved ($) ($) ($) % % Dirk Treasure 595,000 583,844 523,600 EBITDA 70%, EBITDA margin 18% 60,244 Individual performance 12% 98.1% 1.9% Brett Coventry 301,930 270,227 211,351 EBITDA 50%, EBITDA margin 20% 58,876 Individual performance 30% 89.5% 10.5% Threshold Performance Threshold performance represents the minimum acceptable performance level, acknowledging the stretch KPIs set. The threshold for FY26 was by reference to the budget measuring achievement against EBITDA and other financial targets, as well as the achievement of near‑term goals linked to the annual business strategy. Target Performance Target performance represents challenging but achievable levels of performance, including achievement of EBITDA and EBITDA margin targets. Maximum (or stretch) Performance Maximum (stretch) performance requires achievement well beyond normal expectations and must demonstrate a substantial and measurable improvement in business performance. Group performance outcomes Group STI KPIs were assessed for the financial year ended 30 June 2026, with outcomes as shown below: Measure Weighting Threshold Target Stretch FY26 Result Outcome Related Information EBITDA 70% CEO/ 50% CFO $20.0m $23.5m $27.0m $27.2m 100% Section 5 EBITDA margin 18% CEO/ 20% CFO 22.0% 22.6% 27.5% 30.8% 100% Section 5 Individual measures 12% CEO/ 30% CFO Threshold performance against Board approved objectives Board assessment against approved objectives Stretch performance against Board approved objectives Board assessed CEO 84.4%/ CFO 65.0% On the financial measures, the Group delivered EBITDA of $27.2 million and an EBITDA margin of 30.8%, measured against the threshold, target and stretch measures set by the Board. This result was supported by continued revenue growth and margin discipline. FY26 revenue was $88.1 million. In assessing individual performance, the Board considered achievement against the strategic objectives established at the beginning of FY26. For the Managing Director & Chief Executive Officer, these included the successful execution of strategic financing initiatives, maintaining investor and Board confidence through financial leadership, organisational capability and Executive Leadership Team development, together with broader governance and strategic execution. The Board assessed the Managing Director & Chief Executive Officer’s individual performance at 84.4% against the 12% individual weighting. For the Chief Financial Officer & Company Secretary, the Board recognised contributions across financial leadership, governance, risk management, financing and capital management, financial reporting, and the continued development of the systems, controls and organisational capability required to support the Group’s ongoing global growth. The Board assessed individual performance at 65.0% against the 30% individual weighting. 48 Chrysos Corporation
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Remuneration Report – Audited CONTINUED A summary of achievements is as follows: – Dr iving growth in revenue of 33% to $88.1 million through: – Se cured additional PhotonAssay™ contracts, including entering into a Master Services Agreement with one of the world’s largest gold miners, Newmont. – Ex panded global footprint with PhotonAssay™ deployments across five continents. – Gr owth in EBITDA of 68% to $27.2 million through disciplined cost control and operational efficiency. – Rev iew and renewal of long‑term Group Strategy. – Ex pansion of commercial infrastructure to support global growth, including preparation for expansion into three new countries. – Ref inancing of existing banking facilities with an increase to a $200m syndicated facility, – Le adership and oversight of global expansion, including attraction and retention of team members to support growth. – Co ntinued improvement and development of product and services. – De velopment and expansion of key people programs to support performance, talent and leadership development. Combining the financial and individual measures, the Board determined STI awards of 98.1% of maximum opportunity for the Managing Director & CEO and 89.5% of maximum opportunity for the CFO and Company Secretary. The dollar value of STI awarded, and the resulting percentage of maximum opportunity foregone, for each Executive is carried through to the statutory remuneration table at Section 8.1. 5.3 FY26 long‑term incentive (LTI) The Long‑Term Incentive (LTI) is a performance‑based component of Executive remuneration designed to align Executive KMP rewards with longer‑term Group performance and shareholder value. Executive KMP and eligible executives participate in the LTI under shareholder‑approved plans. Performance Rights vest only if service and performance conditions are met over the applicable three‑year period, with performance measures selected by the Board at the time of each grant to reflect the Company’s stage of growth and market context. The structure of the LTI, including the three‑year vesting period, the performance hurdles set by the Board at the time of grant, the continuity of service requirement and the malus and clawback provisions, is set out in Section 4. The FY24 LTI plan was tested on 30 June 2026, resulting in nil vesting (0%). While the Share price remained positive, the Company’ s TSR did not meet the threshold, did not meet the performance of the applicable performance measure. Long‑Term Incentive (LTI) Nil vesting (0%) of the FY24 LTI, following testing at 30 June 2026. Over the three‑year performance period (1 July 2023 to 30 June 2026) the Company delivered a positive Total Shareholder Return (TSR) of approximately 4.24% on a compound annual growth rate (CAGR) basis, with no dividends paid. Over the same period the S&P/ASX 300 Industrials Total Return Index returned approximately 10.16% CAGR. Accordingly, the threshold to match the Index was not met. Annual Report 2026 49
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Remuneration Report – Audited CONTINUED TSR calculation and applicable index result Grant Performance Period Performance Measure Status at 30 June 2026 Related Information F Y24 LTI 1 July 2023 to 30 June 2026 Positive share price hurdle and S&P/ASX 300 Industrials Total Return Index. Tested at 30 June 2026. Nil Vesting. (Company TSR below Index); TSR; FY24 grant lapsed in full. Section 10 and Financial Report – Share Based Payment note. F Y25 LTI 1 July 2024 to 30 June 2027 Positive share price hurdle and S&P/ASX 300 Industrials Total Return Index. On foot. To be tested at 30 June 2027. Section 10 and Financial Report – Share Based Payment note. F Y26 LTI 1 July 2025 to 30 June 2028 Service condition and absolute TSR CAGR. On foot. To be tested at 30 June 2028. Section 6.2 and Financial Report – Share Based Payment note. The FY26 Performance Rights will be assessed at the end of the three‑year performance period ending 30 June 2028. Vesting subject to a service condition (continued employment with Chrysos to the assessment date) and a performance hurdle based on the Company’s Absolute Total Shareholder Return (aTSR), as outlined below. Performance Hurdle Performance Period Target Performance Hurdle 1 July 2025 to 30 June 2028 Company Absolute TSR (CAGR), as detailed below. Performance Level Chrysos aTSR CAGR (3 years) % of Grant Vesting Stretch ≥ 20% CAGR 100% Between Target and Stretch > 10% CAGR & < 20% CAGR Pro‑rata Target 10% aTSR CAGR 50% Between Threshold and Target > 5% & < 10% CAGR Pro‑rata Threshold 5% CAGR 25% Below Threshold < 5% CAGR 0% For the FY26 Performance Rights plan, the Board selected Absolute Total Shareholder Return (aTSR) as the performance measure for the long‑term incentive plan, replacing the relative total shareholder return (Index TSR) measure used for the FY24 and FY25 grants. The Board selected an absolute measure because it created a direct link between vesting and shareholder returns generated over the performance period. The vesting scale requires positive and meaningful shareholder returns before any material vesting occurs. The Board introduced the aTSR measure in recognition that, as a specialised technology company, Chrysos has few directly comparable listed peers, and a single relative comparison was, at this stage, a less reliable signal of the value created for shareholders, because relative outcomes can be driven by movements in unrelated companies rather than by the value created by the Company itself. Further, an absolute measure gives executives and shareholders a common line of sight, because Performance Rights vest only where shareholders have themselves experienced real and sustained growth in the value of their investment. An absolute measure best reflected the Company’s current strategic focus on disciplined growth, profitability and the generation of attractive shareholder returns as the business scales. The Board does not regard this as a softening of the performance bar. The vesting scale set out above is deliberately demanding: no Performance Rights vest unless the Company delivers at least the threshold aTSR CAGR, full vesting requires sustained achievement of the stretch hurdle, and no reward is delivered for flat or negative returns regardless of how the broader market performs. Chrysos’ Absolute Total Shareholder Return (aTSR) is measured as a compound annual growth rate (CAGR) over the three year performance period, independent of any external index. The FY25 grants are unaffected and continue to be tested against the existing TSR measure. 50 Chrysos Corporation
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Remuneration Report – Audited CONTINUED Further information on the accounting treatment of share‑based payments, including the valuation methodology, grant date fair values, key assumptions, expense recognised during the year and movements in equity‑settled awards, is provided in Note 23 – Share‑based Payments to the Financial Statements. 5.4 Executive contracts All aspects of the Executive KMP Terms and Conditions of employment are formalised in employment agreements. These agreements provide for the provision of performance incentive payments, benefits and participation in the LTI plans, where applicable. All service agreements with Executive KMP comply with the requirements of Part 2 D.2, Division 2 of the Corporations Act (regarding termination benefits). Key provisions are outlined below: Mr. Dirk Treasure – Managing Director & Chief Executive Officer – Permanent ongoing appointment; – To tal Fixed Remuneration (TFR) of $595,000 (inclusive of superannuation) to be reviewed annually; – ST I opportunity of up to 100% of TFR and LTI opportunity of up to 200% of TFR as described earlier in Section 4.1 above; and – Co mpetitive restraint: All senior managers are restrained from competing with Chrysos’ business or soliciting any of Chrysos’ suppliers, customers or employees with whom they have had dealings in the last 12 months of their employment with Chrysos. The restraint applies for a maximum period of up to 12 months after their employment ends (on a cascading basis). The limitation applies to a maximum area of worldwide (on a cascading basis). Other than for serious misconduct or serious breach of duty, the Group or Mr. Treasure may terminate employment at any time with six months’ notice. Mr. Brett Coventry – Chief Financial Officer & Company Secretary – Permanent ongoing appointment; – To tal Fixed Remuneration (TFR) of $431,328 (inclusive of superannuation) to be reviewed annually; – ST I opportunity of up to 70% of TFR and LTI opportunity of up to 125% of TFR as described earlier in Section 4.1 above; and – Co mpetitive restraint: All senior managers are restrained from competing with Chrysos’ business or soliciting any of Chrysos’ suppliers, customers or employees with whom they have had dealings in the last 12 months of their employment with Chrysos. The restraint applies for a maximum period of up to 12 months after their employment ends (on a cascading basis). The limitation applies to a maximum area of worldwide (on a cascading basis). Other than for serious misconduct or serious breach of duty, the Group or Mr. Coventry may terminate employment at any time with six months’ notice. 6. RELATIONSHIP BETWEEN REMUNERATION AND GROUP PERFORMANCE The Board believes that the Executive remuneration framework provides a strong alignment between executive reward and the delivery of sustainable Group performance. A significant proportion of Executive KMP remuneration is “at risk” and dependent upon the achievement of financial, operational and shareholder value outcomes. The STI framework rewards the achievement of annual performance measures that are aligned with the Group’s operating plan, including profitability, margin performance, strategic initiatives and leadership objectives. The LTI framework rewards longer‑term value creation through performance rights that vest only where the Company delivers strong total shareholder returns over a three‑year performance period. The FY26 performance outcomes demonstrate the operation of this framework. During the year the Group achieved revenue growth of 33% to $88.1m, EBITDA growth of 68% to $27.2m, expanded its global deployment footprint, executed 24 new customer contracts across seven countries and continued to strengthen its recurring revenue base through additional PhotonAssay™ deployments. These outcomes contributed to STI achievement levels and reflect the delivery of objectives that were incorporated into Executive KMP performance scorecards. In considering the Group’s performance and benefits for shareholder alignment, the Remuneration & Nominations Committee has regard to the following indices in current and prior financial years. Annual Report 2026 51
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Remuneration Report – Audited CONTINUED Five‑year performance summary – linking pay to outcomes Revenue ($m) $14.1m $26.8m $45.4m $66.1m $88.1m EBITDA ($m) $2.1m $3.5m $9.0m $16.1m $27.2m Revenue Growth +215% +90% +69% +46% +33% Share IPO +43% +11% –17% –6% FY22 FY23 FY24 FY25 FY26 FY26FY25FY24FY23FY22 $14.1m $26.8m $45.4m $66.1m $88.1m Revenue trajectory ($M) EBITDA Trajectory $(M) FY26FY25FY24FY23FY22 $16.1m $9.0m $ 2 .1m $3.5m $ 27. 2 m Revenue and EBITDA are $m (rounded). Growth figures are the disclosed report values. 52 Chrysos Corporation
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Remuneration Report – Audited CONTINUED The Board considers that the remuneration outcomes awarded for FY26 appropriately reflect the Group’s performance against its strategic and financial objectives and are aligned with the interests of shareholders. The LTI structure further reinforces this alignment by linking a substantial portion of Executive remuneration to future shareholder returns and sustained value creation over multiple years. The Board regularly reviews whether remuneration outcomes are aligned with Group performance. Since listing, Chrysos has grown revenue, expanded its deployed and contracted fleet, broadened its global footprint and deepened relationships with leading laboratories and miners. The growth in revenue from $14.1m in FY22 to $88.1m in FY26, together with the increase in EBITDA from $2.1m to $27.2m over the same period, reflects the successful execution of the Group’s strategy. The framework links annual incentives to financial and strategic outcomes, and long‑term incentives to shareholder returns over multi‑year periods. 7 . LOOKING AHEAD TO FY27 As part of the Company’s remuneration framework, the Board determined that Chrysos had reached an appropriate stage in its evolution to recalibrate executive remuneration for FY27. Since the Company’s IPO in 2022, Chrysos has transformed from an early‑stage technology company into a global operating business, with a significantly larger international footprint, increased operational complexity and continued growth in financial performance. During this period, the overall executive remuneration framework has remained largely unchanged. Accordingly, the Board considered it appropriate to undertake a detailed review to ensure the framework remained fit for purpose and continued to support the Company’s long‑term strategy. The Board therefore commissioned an independent review of remuneration governance, benchmarking executive and Non‑Executive Director remuneration against an appropriate peer group and assessing the competitiveness of the Company’s remuneration structure. Governance of the review The review was overseen by the Remuneration & Nominations Committee and supported by Godfrey Remuneration Group, which was engaged by and reported to the Committee. It provided independent benchmarking insights on framework, design and quantum against an appropriate peer group. Those insights informed the Board’s judgement but did not determine it. In setting each outcome the Board weighed the benchmarking alongside the impact of the role, demonstrated performance and the need to retain key talent, and positioned each package where it considered the role warranted. As part of the review, the Board also formalised and documented its remuneration policy, recording the framework and the market reference points applied to both executive and Non‑Executive Director remuneration. The Board will continue to engage openly with shareholders and proxy advisers as the FY27 arrangements take effect, building on the strong shareholder support received for the FY25 Remuneration Report, and will keep the framework under review as the Group grows. In determining FY27 remuneration arrangements, the Board sought to balance three objectives: – ma intaining market competitiveness to attract and retain high‑calibre executives; – pr eserving a strong link between remuneration and shareholder outcomes; and – im plementing changes progressively and prudently given continued share price volatility. Changes to the framework for FY27 Accordingly, from FY27 the Board has: – re positioned executive fixed remuneration to ensure competitiveness; – re calibrated the mix of fixed remuneration, STI and LTI to better reflect comparable market practice while maintaining a significant proportion of remuneration at risk; and – de veloped a new Equity Incentive Plan, to be submitted for shareholder approval, incorporating enhanced governance provisions, longer equity holding periods, improved malus and clawback provisions and a broader suite of shareholder value measures. Consistent with good governance practice among comparable ASX‑listed companies, the FY27 LTI framework will also evolve from a single performance measure to a balanced approach comprising 50% Relative TSR (measured against the S&P/ASX 300 Index) and 50% Absolute TSR. Annual Report 2026 53
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Remuneration Report – Audited CONTINUED The Board’s view on comparability has not changed. As a specialised technology company, Chrysos still has few directly comparable listed peers, and the Board does not consider that a bespoke comparator group of similar companies can be constructed that would produce a reliable measure of relative performance. Absolute TSR therefore remains in the framework, retaining the direct line of sight between vesting and the real, sustained growth in value that shareholders themselves experience. What has changed is the Board’s assessment of how robust a single measure is on its own. In response to shareholder and proxy adviser expectations, the Board sought to strengthen the performance testing by balancing the absolute measure with a broad market index rather than a narrow peer set. Testing half of the award against the S&P/ASX 300 Index ensures that vesting also reflects whether Chrysos has outperformed the market generally, and reduces the influence of any single measure on the overall outcome. Weighing that benchmarking against the Company’s strategy and stage of development, the Board judged that a balanced approach better recognises both Chrysos’ performance relative to the broader market and the absolute shareholder value created over the performance period. The Board does not regard this as a softening of the performance bar: the hurdles remain deliberately demanding, and neither measure rewards flat or negative shareholder returns. Collectively, these changes better align executive remuneration with the Company’s current stage of development while reinforcing long‑term shareholder alignment through a greater proportion of deferred, equity‑based remuneration. Executive remuneration outcomes In undertaking the review, the Board considered that executive remuneration was no longer aligned with the market positioning the Board considers appropriate for a company of Chrysos’ size, complexity and stage of development. Since listing, Chrysos has expanded into a substantially larger and more complex international business, expansion of management capability across global operations, multiple jurisdictions, a broader regulatory environment and significantly greater organisational complexity. Accordingly, the Board approved a measured repositioning of fixed remuneration, while maintaining the majority of executive remuneration at risk. On that basis, total fixed remuneration for the MD & CEO increases from $595,000 to $714,000, and for the CFO & Company Secretary from $431,328 to $467,000, each inclusive of superannuation. Fixed remuneration had been held flat for the two preceding years. The Board considered this the appropriate point in the Company’s evolution to reposition fixed remuneration. The responsibilities of the executive roles have expanded materially to support this growth, particularly those of the MD & CEO, and the timing reflects the Company’s increased maturity rather than a periodic remuneration review. Importantly, while the recalibrated pay mix repositions fixed remuneration towards market practice — resulting in a reduction in target STI — maximum STI and LTI 1 opportunities (as a percentage of fixed remuneration) remain unchanged, maintaining our alignment to incentivise high performance. The Board determined that repositioning fixed remuneration, rather than increasing maximum incentive opportunity, was the most appropriate way to achieve market alignment while maintaining a substantial proportion of remuneration at risk. The STI scorecard has been reset, retaining the gates, with a sharper focus on core financial metrics and the operational drivers behind them. Taken together with the settlement of part of future STI awards in equity, design of the Equity Incentive Plan and the LTI measures described above, there is greater alignment between the executive remuneration and shareholder experience. Non‑Executive Director fees Non‑Executive Director fees were benchmarked as part of the review process. There were no changes to fee levels in FY26, and the FY27 increases are the first adjustment to Board fees since listing. On the Committee’s recommendation, the Board approved an increase in the Non‑Executive Director base fee of $5,000 to $90,000 a year, and an increase in the Board Chair fee of $37,000 to $207,000 a year, each inclusive of superannuation. Committee chair and committee membership fees are unchanged. The Board Chair abstained from discussions with respect to his own fee. The fee pool approved by shareholders at the Extraordinary General Meeting held on 14 April 2022 remains at $950,000, of which 56% was utilised in FY26. The FY27 fees set out below sit well within the pool, leaving capacity for future Board appointments. No increase to the pool will be sought at the FY26 Annual General Meeting. Non‑Executive Directors do not participate in the STI or LTI plans and receive no performance‑based pay or retirement benefits beyond superannuation. 1. FY27 LTI arrangements are subject to shareholder approval at the 2026 Annual General Meeting. 54 Chrysos Corporation
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Remuneration Report – Audited CONTINUED FY27 Non‑Executive Director fees (inclusive of superannuation) Role FY26 fee ($) FY27 fee ($) Change ($) Board Chair 170,000 207 ,000 +37 ,000 Non‑Executive Director – base fee 85,000 90,000 +5,000 Committee Chair fee Unchanged Unchanged Nil Committee member fee Unchanged Unchanged Nil Approved aggregate fee pool 950,000 950,000 Nil Committee chair and committee membership fees are unchanged from FY26 and are also paid inclusive of superannuation. Further detail on Non‑Executive Director remuneration is set out in section 9. These changes represent an evolution of the Company’s remuneration framework rather than a change in remuneration philosophy. The Board considers that they appropriately position remuneration for the Company’s current stage of development, while ensuring that the majority of executive remuneration remains contingent on the achievement of demanding performance outcomes that support disciplined growth, sustainable profitability and the delivery of sustainable long‑term shareholder value. 8. EXECUTIVE REMUNERATION STATUTORY DISCLOSURE 8.1 Remuneration disclosure Details of the remuneration of Executive KMP during the year ended 30 June 2026 are set out in the following table: Executive Year Short‑Term Benefits Other Long‑Term Benefits Post‑ Employment Benefits Share‑Based Payments1 Total % Performance Related Cash Salary STI Leave Super Dirk Treasure FY26 538,923 583,844 26,077 30,000 550,306 1,729,150 66% FY25 523,775 454,749 41,293 29,932 397, 368 1,4 47,117 59% Brett Coventry FY26 372,000 270,227 29,328 30,000 249,331 950,886 55% FY25 376,695 236,874 24,701 29,932 224,336 892,538 52% Total FY26 910,923 854,071 55,405 60,000 799,637 2,680,036 62% FY25 900,470 691,623 65,994 59,864 621,704 2,339,655 56% Other than the provision or reimbursement of travel, accommodation and professional development necessarily incurred in the performance of their duties, there were no transactions with Executives other than as disclosed in the above table. Individual KMP remuneration dashboards (FY26) Dirk Treasure Managing Director & Chief Executive Officer Term as KMP: Full year FY26 FY26 Total Fixed Remuneration: $595,000 No change in FY26 (set FY25) Equity Granted FY26 Unvested equity outstanding FY26 STI Performance rights (FY26 LTI) 239,919 FY24 LTI performance rights lapsed nil Max STI opportunity $595,000 Grant date 25 Nov 2025 Financial metrics (88%) at maximum Performance period end 30 Jun 2028 FY25 LTI performance rights 217,754 Individual (12%) 84.4% Options exercised @ $4.50 27,500 FY26 LTI performance rights 239,919 Total rights on foot 457,673 Actual STI awarded 583,844 Shareholding ordinary shares: 84 4,411 +27,500 via option exercise FY26 max opportunity $2 ,380,000 Annual Report 2026 55
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Remuneration Report – Audited CONTINUED Brett Coventry Chief Financial Officer & Company Secretary Term as KMP: Full year FY26 FY26 Total Fixed Remuneration: $431,328 No change in FY26 (set FY25) Equity Granted FY26 Unvested equity outstanding FY26 STI Performance rights (FY26 LTI) 108,702 FY24 LTI performance rights lapsed nil Max STI opportunity $301,930 Grant date 25 Nov 2025 Financial metrics (70%) at maximum Performance period end 30 Jun 2028 FY25 LTI performance rights 98,659 Individual (30%) 65.0% Options exercised @ $4.50 102,500 FY26 LTI performance rights 108,702 Total rights on foot 207,361 Actual STI awarded $270,227 Shareholding ordinary shares: 50 ,000 +102,500 via option exercise FY26 max opportunity $1 ,272,418 1. The dollar value disclosed for the LTI represents the accrual amount relating to the portion of share‑based payments. This value is accounted f or over the performance period from grant date to vesting date and does not reflect actual payments or vesting outcomes. Group performance outcomes Group STI KPIs were assessed for the financial year ended 30 June 2026, with outcomes as shown below: STI KPIs Threshold Target Stretch Weighting Result % Achievement of Group Target EBITDA1 $20,000,000 $23,500,000 $27 ,000,000 70% $27,167,985 100% EBITDA Margin 22.0% 22.6% 27.5% 18% 30.8% 100% FY26 STI performance outcomes Group EBITDA (70% wt.) 100% (at stretch) Threshold $20.0m Result $27.2m (above stretch) Result 30.8% (above stretch) Stretch $27.0m Target $23.5m EBITDA Margin (18% wt.) 100% (at stretch) Threshold 22.0% Stretch 27.5% Target 22.6% Performance gates – safety, ESSG, financial reporting and labour law: met MD & CEO: 98.1% STI awarded; CFO: 89.5% STI awarded. MD & CEO individual component (12%) achieved 84.4%; CFO individual component (30%) achieved 65.0%. FY26 revenue achieved: $88.1m (+33%). 56 Chrysos Corporation
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Remuneration Report – Audited CONTINUED A summary of achievements is as follows: – Dr iving growth in revenue of 33% to $88.1 million through: – Se cured additional PhotonAssay™ contracts, including entering into a Master Services Agreement with one of the world’s largest gold miners, Newmont. – Ex panded global footprint with PhotonAssay™ deployments across five continents. – Gr owth in EBITDA of 68% to $27.2 million through disciplined cost control and operational efficiency. – Rev iew and renewal of long‑term Group Strategy. – Ex pansion of commercial infrastructure to support global growth, including preparation for expansion into three new countries. – Le adership and oversight of global expansion, including attraction and retention of team members to support growth. – Co ntinued improvement and development of product and services. – De velopment and expansion of key people programs to support performance, talent and leadership development. 8.2 Long‑term incentive As an unlisted business prior to 6 May 2022, the Company’s remuneration strategy included the issue of Options, details of which are provided below. No grants of options have been made since the Company listed on the Australian Securities Exchange. As part of the preparation of listing on the ASX, the Board approved a Performance Rights Plan on 16 March 2022. Grants of Performance Rights were made under the rules of this Performance Rights Plan and these grants are detailed below. Balance as at 1 July 2025 Grant Date Issued as Remun‑ er ation Exer ci sed Lapsed/ Forfeited Lapsed/ Forfeited % Balance as at 30 June 20261 Vested During the Period Ended 30 June 20262 Vested % Dirk Treasure Options 27,500 24 September 2021 – (27,500) – – – – – 27,500 – (27,500) – – – – – Performance 180,540 16 August 2023 – – (180,540) 100% – – 0% Rights 217,754 19 August 2024 – – – – 217,754 – – – 25 November 2025 239,919 – – – 239,919 – – 398,294 239,919 – (180,540) 100% 457,673 – 0% Brett Coventry Options 27,500 24 September 2021 – (27,500) – – – – – 75,000 21 November 2021 – (75,000) – – – – – 102,500 – (102,500) – – – – – Performance 86,130 16 August 2023 – – (86,130) 100% – – 0% Rights 98,659 19 August 2024 – – – – 98,659 – – – 25 November 2025 108,702 – – – 108,702 – – 184,789 108,702 – (86,130) 100% 207,361 – 0% 1. The FY24 Performance Rights (granted 16 August 2023) were tested at 30 June 2026 and vested at 0.0%: Nil of 180,540 rights vested for M r. Treasure (180,540 lapsed) and nil of 86,130 vested for Mr. Coventry (86,130 lapsed). As the Index TSR hurdle is a market condition under AASB 2, no share‑based payment expense was reversed on lapse; the reserve attributable to the lapsed rights was transferred to retained earnings. 2. In cludes Options held directly, indirectly and beneficially by Mr. Treasure and Mr. Coventry. Annual Report 2026 57
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Remuneration Report – Audited CONTINUED All Options on issue are subject to 3‑year employment conditions, except for the grant of 75,000 Options on 21 November 2021, which were subject to performance measures including listing on the ASX, corporate structure, reporting and general performance and were fully vested in FY23. No Options vested for Executive KMP during the year ended 30 June 2026 (all options on issue having vested in prior periods). Performance Rights are equity‑settled and measured at their fair value at grant date in accordance with AASB 2 Share‑based Payment. Because vesting is subject to an absolute Total Shareholder Return (aTSR) hurdle – a market condition – fair value was determined using a Monte Carlo simulation option‑pricing model, independently prepared by PricewaterhouseCoopers (PwC). The grant‑date fair value is recognised as an expense on a straight‑line basis over the three‑year vesting period, with the number of rights expected to vest trued up each period for the service (non‑market) condition only. The share‑based payment amounts included in the statutory remuneration tables represent the accounting expense recognised during the year in accordance with AASB 2 Share‑based Payment . Refer to Note 23 – Share‑based Payments for further details of the valuation methodology and accounting treatment. The FY24 LTI (Performance Rights granted 16 August 2023) was tested at the end of its performance period on 30 June 2026. Over the period the Company’s TSR was approximately 4.24% CAGR, below the S&P/ASX 300 Industrials Total Return Index return of approximately 10.16% CAGR. As the Company’s Index TSR did not reach the threshold (achievement of the Index return), the rights vested at 0% – the full 180,540 rights held by Mr. Treasure and 86,130 rights held by Mr. Coventry lapsed. As the Index TSR hurdle is a market condition under AASB 2, the previously recognised share‑based payment expense was not reversed. During the financial year, Mr. Treasure exercised 27,500 Options at $4.50 (proceeds of $123,750 to the Group) and Mr. Coventry exercised 102,500 Options at $4.50 (proceeds of $461,250 to the Group). Performance Rights were issued in FY26 with the performance measures and terms as outlined in section 4 of this report. 9. NON‑EXECUTIVE DIRECTOR REMUNERATION 9.1 Non‑executive director remuneration disclosure Prior to its 2022 ASX listing, the Company paid Non‑Executive Director fees in the form of cash and equity‑based payments. This approach and structure reflected the early stage, developing nature of the business during that period of time. No equity‑based payments have been made to Non‑Executive Directors since ASX listing, and amounts included in this Remuneration Report represent grants prior to listing date, with remuneration noted below attributable to measurement of fair value at grant date, as detailed in Note 2 of the Consolidated Financial Statements. The Board set the level of fees paid to Non‑Executive Directors within the aggregate pool approved by shareholders. At the Extraordinary General Meeting (EGM) held on 14 April 2022, the pool was set at $950,000 per annum. Fee Type FY26 Annual Fee Change from FY25 Related Information Chair $170,000 No change Section 10 statutory table Non‑Executive Director $85,000 No change Section 10 statutory table Committee Chair $20,000 No change Corporate Governance Statement Committee Member $10,000 No change Corporate Governance Statement All base fees shown above are inclusive of statutory superannuation contributions. Non‑Executive Director fees and committee fees will continue to be reviewed annually. There has been no increase in Non‑Executive Director remuneration for FY26. 58 Chrysos Corporation
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Remuneration Report – Audited CONTINUED Non‑Executive Directors were remunerated as follows: NED fee pool utilisation – FY26 56% used Pool approved (EGM April 2022) $950,000 $534,609 paid $415,391 remaining Zero NED fee increases in FY26. Chair $170k, NEDs $85k, Committee Chair $20k, Member $10k. Short‑Term Benefits Post‑ E mployment Benefits Share‑based Payments2 Total Directors Year Directors’ Fees Super Robert Adamson FY26 170,000 – – 170,000 FY25 170,000 – 2,766 172,766 Elisha Civil FY26 62,109 4,603 – 66,712 (appointed 15 October 2025) Eric Ford FY26 84,821 10,179 – 95,000 FY25 91,181 10,486 1,383 103,050 Kerry Gleeson FY26 102,679 12,321 – 115,000 FY25 109,380 12,579 1,383 123,342 Greg Holt FY26 115,000 – – 115,000 FY25 110,000 – – 110,000 Former Directors Year Directors’ Fees Super Brett Boynton FY26 – – – – (resigned 25 November 2024) FY25 42,630 – 1,383 43,743 Ivan Mellado FY26 – – – – (resigned 25 November 2024) FY25 34,691 – 3,989 40,063 Total FY26 534,609 27,103 – 561,712 Total FY25 1 557,882 27,054 8,298 593,233 1. Director of Holt Family Investments (VIC) Pty Ltd. His Directors’ Fees (which are subject to GST) are paid to Holt Family Investments (VIC) Pty Ltd a nd are shown net of GST. This change of corporate trustee for the G V Holt Family Trust took place during the FY25 year. 2. Th e dollar value disclosed represents the accrual amount for the portion of share‑based payments, accounted for over the performance period from grant date to vesting date. Share‑based payments for Non‑Executive Directors are nil in FY26, as all options granted on 24 September 2021 vested in full on 24 September 2024. This value does not reflect actual payments or vesting outcomes. Refer to section 9 for pre‑listing Director remuneration structure. Annual Report 2026 59
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Remuneration Report – Audited CONTINUED 9.2 Non‑executive director share‑based payments The following Tables sets out Options held during FY26. Balance as at 1 July 2025 Grant Date Issued as Remun ‑ er ation Exer‑ ci sed Lapsed/ Forfeited Lapsed/ Forfeited % Balance as at 30 June 20261 Vested During the Period Ended 30 June 2026 Vested % Robert Adamson Options 25,000 24 September 2021 – – – – 25,000 – 100% Eric Ford Options 12,500 24 September 2021 – (12,500) – – – – – Kerry Gleeson Options 12,500 24 September 2021 – (5,000) – – 7,500 – 100% 1. Includes Options held directly, indirectly and beneficially by Directors. No Options vested for Non‑Executive Directors during the year ended 30 June 2026 (all options on issue having vested on 24 September 2024). No equity‑based payments have been made to Non‑Executive Directors since ASX listing. Amounts included in prior years related to pre‑listing grants During the year ended 30 June 2026, Ms. Gleeson exercised 5,000 Options and Mr. Ford exercised 12,500 Options, each at an exercise price of $4.50, resulting in payments of $22,500 and $56,250 respectively to the Group. Both exercises were made in accordance with the Option Rules. Other than the provision or reimbursement of travel, accommodation and professional development necessarily incurred in the performance of their duties, there were no transactions with Directors other than as disclosed in the above Table. 10. KEY MANAGEMENT PERSONNEL SHAREHOLDINGS The number of shares in Chrysos Corporation held directly, indirectly or beneficially by KMP during FY26 by KMP, including any related parties, is set out below: Class of Shares Balance at the Start of the period 1 July 2025 Shares Allocated Under Remun‑ er ation Framework4 Net Change Other Balance at the End of the Period 30 June 20261 Number of Options not Vested at Year End1 Number of Options Vested and not Exercised at Year End1 Number of Perfor‑ man ce Rights not Vested at Year End1 Non‑Executive Directors Mr. R Adamson Ordinary 3,372,572 – (849,219) 2,523,353 – 25,000 – Ms. E Civil 5 Ordinary – – – – – – – Mr. E Ford3 Ordinary 298,000 12,500 – 310,500 – – – Ms. K Gleeson2 Ordinary 8,193 5,000 (5,000) 8,193 – 7,500 – Mr. G Holt Ordinary 12,000 – 18,457 30,457 – – – Senior Executives Mr. D Treasure 4 Ordinary 956,911 27,500 (140,000) 84 4,411 – – 45 7,673 Mr. B Coventry Ordinary 35,000 102,500 (87,500) 50,000 – – 207, 361 1. Includes Shares, Options and Performance Rights held directly, indirectly and beneficially by Directors and Senior Executives. 2 . Du ring the financial year Ms. Gleeson exercised 5,000 options which had an exercise price of $4.50. 3. Du ring the financial year Mr. Ford exercised 12,500 options which had an exercise price of $4.50. 4. Du ring the financial year Mr. Treasure exercised 27,500 options and Mr. Coventry exercised 102,500 options, each at an exercise price of $4.50. 5. Ms . Elisha Civil was appointed on 15 October 2025 and held no securities in the Company on appointment or at year end. 60 Chrysos Corporation
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Remuneration Report – Audited CONTINUED 10.1 Loans to directors and executives There were no loans to Directors or Executives during the FY26 financial year. During FY26 there were no transactions or balances with Executive KMP or Directors, other than those disclosed in this Remuneration Report. 10.2 Other transactions with directors and executives During the FY26 period there were no transactions or balances with Executive KMP or the Directors (FY25 Nil). Annual Report 2026 61
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KPMG, an Australian partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation. Liability limited by a scheme approved under Professional Standards Legislation. Lead Auditor’s Independence Declaration under Section 307C of the Corporations Act 2001 To the Directors of Chrysos Corporation Limited I declare that, to the best of my knowledge and belief, in relation to the audit of Chrysos Corporation Limited for the financial year ended 30 June 2026 there have been: i. no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and ii. no contraventions of any applicable code of professional conduct in relation to the audit. KPM_INI_01 KPMG Paul Cenko Partner Adelaide 10 August 2026 Auditor’s Independence Declaration 62 Chrysos Corporation
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Consolidated Financial Report Consolidated Statement of Profit or Loss and Other Comprehensive Income 64 C onsolidated Statement of Financial Position 65 C onsolidated Statement of Changes in Equity 66 C onsolidated Statement of Cash Flows 67 N otes to the Consolidated Financial Statements 68 C onsolidated Entity Disclosure Statement 10 8 Directors’ Declaration 11 0 Independent Auditor’s Report 11 1 Important Notices 11 5 Shareholder Information 11 6 Annual General Meeting 11 9 Corporate Directory 12 0 Annual Report 2026 63
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Consolidated Statement of Profit or Loss and Other Comprehensive Income FOR THE YEAR ENDED 30 JUNE 2026 Note 30 June 2026 $’000 30 June 2025 $’000 Revenue and other income PhotonAssay™ revenue 3A 87,999 65,990 Revenue from consumables 3B 111 122 Total revenue 88,110 66,112 Other income 3C 1,057 1,210 Total revenue and other income 89,167 67,322 Operating expenses PhotonAssay™ expenses (21,264) (15,672) Employee benefit expenses (27, 310) (23,624) Consulting and advisory fees (994) (1,273) Consumables cost of sales (52) (18) Travel and marketing costs (2,690) (2,484) IT costs (3,190) (2,380) Other expenses (5,528) (4,528) Impairment expenses 13 (906) – Depreciation and amortisation expense 5 (21,386) (15,261) Finance costs 5 ( 7,6 4 3) (4,962) Profit/(loss) before income tax (1,796) (2,880) Income tax benefit/(expense) 8 3,586 (5,343) Profit/(loss) for the year 1,790 (8,223) Other comprehensive income for the year Items that may be reclassified subsequently to profit or loss Exchange gains/(losses) arising on translation of foreign operations (5,421) 4,268 Total comprehensive loss for the year attributable to the owners from continuing operations (3,631) (3,955) Basic earnings/(loss) per share (cents) 7 1.54 ( 7.13) Diluted earnings/(loss) per share (cents) 7 1.52 ( 7.13) The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes. 64 Chrysos Corporation
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Note 30 June 2026 $’000 30 June 2025 $’000 Current assets Cash and cash equivalents 9 25,892 21,520 Trade and other receivables 10 33,123 27,119 Research and development receivable – 588 Other current assets 2,966 2,278 International withholding tax 3,534 1,439 Prepayments 12,799 11,206 78,314 64,150 Non‑current assets Property, plant and equipment 12 204,188 186,115 Right‑of‑use assets 19 3,776 4,411 Intangible assets 15 8,027 6,391 Other financial assets 385 100 Deferred tax assets 8 11,781 3,143 228,157 200,160 Total assets 306,471 264,310 Current liabilities Trade and other payables 11 34,723 34,033 Lease liabilities 20 839 990 Employee benefits 6,371 5,705 Other financial liabilities 17 246 308 Provisions – 49 Loans and borrowings 16 – 2,277 42,179 43,362 Non‑current liabilities Lease liabilities 20 4,047 4,463 Employee benefits 676 500 Other financial liabilities 17 1,918 2,546 Loans and borrowings 16 59,445 15,137 Deferred tax liabilities 8 528 – 66,614 22,646 Total liabilities 108,793 66,008 Net assets 197,678 198,302 Equity Issued capital 21 215,370 214,261 Accumulated losses (18,684) (21,945) Reserves 992 5,986 Total equity 197,678 198,302 The above consolidated statement of financial position should be read in conjunction with the accompanying notes. Consolidated Statement of Financial Position AS AT 30 JUNE 2026 Annual Report 2026 65
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Issued Capital $’000 Accumulated Losses $’000 Foreign Exchange Reserve $’000 Share‑Based Payments Reserve $’000 Total $’000 Balance at 1 July 2024 210,660 (14,788) (354) 2,756 198,274 Loss for the year – (8,223) – – (8,223) Other comprehensive income for the year, net of tax – – 4,268 – 4,268 Total comprehensive loss for the year – (8,223) 4,268 – (3,955) Share‑based payments – 1,066 – (684) 382 Issued shares (net of costs) 3,601 – – – 3,601 Balance at 30 June 2025 214,261 (21,945) 3,914 2,072 198,302 Profit for the year – 1,790 – – 1,790 Other comprehensive income for the year, net of tax – – (5,421) – (5,421) Total comprehensive loss for the year – 1,790 (5,421) – (3,631) Transfer from share‑based payments reserve to accumulated losses – 1,471 – (1,471) – Transfer from share‑based payments reserve to issued capital 271 – – (271) – Share‑based payments expense – – – 2,169 2,169 Issued shares (net of costs) 838 – – – 838 Balance at 30 June 2026 215,370 (18,684) (1,507) 2,499 197,678 The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes. Consolidated Statement of Changes in Equity FOR THE YEAR ENDED 30 JUNE 2026 66 Chrysos Corporation
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Note 30 June 2026 $’000 30 June 2025 $’000 Cash flows from operating activities Receipts from customers (inclusive of GST) 93,886 65,992 Payments to suppliers and employees (inclusive of GST) (70,953) (54,366) 22,933 11,626 Interest income 171 1,210 Interest paid – (701) Income tax paid (5,175) (3,303) Net cash from operating activities 17,929 8,832 Cash flows from investing activities Payments for intangibles (2,041) (2,568) Payments for property, plant and equipment (38,970) (66,154) Net cash used in investing activities (41,011) (68,722) Cash flows from financing activities Proceeds from issue of share capital 855 2,607 Transaction costs of issue of share capital (17) (18) Proceeds from borrowings 100,123 18,146 Proceeds from lease incentives – 440 Payment of derivatives premium (76) (100) Repayment of lease liabilities (1,689) (1,182) Interest paid (4,382) (1,884) Transaction costs related to loans and borrowings (1,048) – Repayment of borrowings (5 7,5 37) (732) Net cash from financing activities 36,229 17,277 Net increase/(decrease) in cash and cash equivalents 13,147 (42,613) Cash and cash equivalents at 1 July 21,520 61,067 Foreign exchange (8,775) 3,066 Cash and cash equivalents at 30 June 9 25,892 21,520 The above consolidated statement of cash flows should be read in conjunction with the accompanying notes. Consolidated Statement of Cash Flows FOR THE YEAR ENDED 30 JUNE 2026 Annual Report 2026 67
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NOTE 1: GENERAL INFORMATION Chrysos Corporation Limited (the ‘Company’) is a publicly listed company, incorporated in Australia and together with its subsidiaries, currently operates in Asia Pacific, Africa, North America, South America and Europe. These consolidated financial statements as at year ended 30 June 2026 comprise the Company and its subsidiaries (together referred to as the ‘Group’). Chrysos Corporation Limited is a for profit entity. Its registered office and principal place of business are: Registered office Pr incipal place of business Thomson Geer Lawyers 2A V enture Road Level 5, 19 Gouger Street To nsley SA 5042 Adelaide SA 5000 A description of the nature of the Group’s operations and its principal activities are included in the Directors’ report, which is not part of the consolidated financial statements. The consolidated financial statements were authorised for issue, in accordance with a resolution of directors, on 10 August 2026. NOTE 2: MATERIAL ACCOUNTING POLICIES The principal accounting policies adopted in the preparation of the consolidated financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Basis of preparation This general‑purpose financial report for the year ended 30 June 2026 has been prepared in accordance with the Australian Accounting Standards and interpretations issued by the Australian Accounting Standards Board (‘AASB’) and the Corporations Act 2001, as appropriate for for‑profit oriented entities that have public accountability. The financial statements comply with International Financial Reporting Standards (IFRS) adopted by the International Accounting Standards Board (IASB). This report, together with the consolidated financial statements, was authorised for issue in accordance with a resolution of the Directors. The Company is of a kind referred to in ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191 , and in accordance with the legislative instrument, amounts in the consolidated financial statements have been rounded off to the nearest thousand dollars, unless otherwise stated. Basis of consolidation Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date on which control commences until the date on which control ceases. The accounting policies of subsidiaries have been changed when necessary to align them with the policies adopted by the Group. Unrealised gains and losses and inter‑entity balances resulting from transactions with or between subsidiaries are eliminated in full on consolidation. The Group’s subsidiaries are all currently wholly owned and there are no entities where the Group has an interest, that could be considered non‑controlling interests. Going concern The directors have, at the time of approving the financial report, a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. The going concern basis of accounting has been determined after taking into consideration all available information at the time of approving the financial report. The consolidated financial statements have been prepared on a going concern basis, which assumes that the Group will be able to discharge its liabilities. The Group has recognised a net profit after tax of $1.790m for the year 30 June 2026 (FY25: loss of $8.223m). Chrysos has facilities of $200m of which $60m was drawn at 30 June 2026 and at the same time the Group had $25.892m cash and equivalents to hand. The Group operates with a positive operating cash flow, with its biggest outflows during the most recent financial year of $38.970m being the investment in PhotonAssay™ and other minor property, plant and equipment, however the rate of this investment is able to be controlled to meet cash flow requirements or accordingly to expedite growth in deployments. Notes to the Consolidated Financial Statements 30 JUNE 2026 68 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED Foreign currency Functional and presentation currency The Group’s financial statements are presented in Australian dollars (AU$), as that presentation currency most reliably reflects the global business performance of the Group as a whole. Transactions and balances Foreign currency transactions are translated into the Group’s functional currency, which is Australian dollars, using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at financial year‑end exchange rates of monetary assets and liabilities denominated in foreign currencies, are recognised in finance costs on the consolidated statement of profit or loss and other comprehensive income. Foreign operations In the Group’s financial statements, all assets, liabilities and transactions of Group entities with a functional currency other than the AUD, are translated into AUD upon consolidation. The functional currency of the entities in the Group has remained unchanged during the reporting period. The assets, liabilities, income and expenses of non‑AUD denominated functional currency companies are translated into AUD using the following applicable exchange rates: Foreign currency amount Applicable exchange rate Income and expenses Average rate prevailing for the relevant period Assets and liabilities Period‑end rate Equity Historical rate Statement of cash flows Average rate prevailing for the relevant period Exchange‑rate differences are charged or credited to other comprehensive income and recognised in the currency translation reserve in equity. On disposal of a foreign operation the cumulative translation differences recognised in equity are reclassified to profit or loss and recognised as part of the gain or loss on disposal. Historical cost convention The financial statements have been prepared under the historical cost convention, except for, where applicable, the revaluation of financial assets and liabilities at fair value through profit or loss. Current and non‑current classification Assets and liabilities are presented in the statement of financial position based on current and non‑current classification in accordance with AASB 101 Presentation of Financial Statements . Assets are classified as current when: they are expected to be realised or intended to be sold or consumed in the Group’s normal operating cycle; they are held primarily for the purpose of trading; they are expected to be realised within 12 months after the reporting period; or they are cash or cash equivalents, unless restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period. All other assets are classified as non‑current. Liabilities are classified as current when: they are expected to be settled in the Group’s normal operating cycle; they are held primarily for the purpose of trading; they are due to be settled within 12 months after the reporting period; or the Group does not have a substantive right at the end of the reporting period to defer settlement of the liability for at least 12 months. In assessing the classification of liabilities subject to loan covenants, only those covenants that must be complied with on or before the reporting date are considered in determining whether the Group has the right to defer settlement. Covenants that are required to be met after the reporting date do not affect classification of liabilities, but are disclosed where relevant, in accordance with AASB 2022‑6 and AASB 2023‑3. Deferred tax assets and liabilities are always classified as non‑current, regardless of the expected timing of reversal. Annual Report 2026 69
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Notes to the Consolidated Financial Statements CONTINUED Critical accounting judgement, estimates and assumptions The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts in the financial statements. Management continually evaluates its judgements and estimates in relation to assets, liabilities, contingent liabilities, revenue and expenses. Management bases its judgements, estimates and assumptions on historical experience and on other various factors, including expectations of future events, management believes to be reasonable under the circumstances. The resulting accounting judgements and estimates will seldom equal the related actual results. The judgements, estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities (refer to the respective notes) within the next financial year are discussed below. Useful life of PhotonAssay™ units The estimation of the useful lives of PhotonAssay™ units is a significant accounting judgement. The units are proprietary assets designed and developed internally by the Group, and there is no directly comparable equipment in the market against which their service lives can be benchmarked. The assessment therefore relies principally on the Group’s own technical and operational experience rather than external reference data, and requires significant judgement, particularly as the deployed fleet remains relatively young and continues to build operating history. Consistent with AASB 116, each PhotonAssay™ unit is separated into its significant components, which are depreciated individually over the useful life appropriate to each. The Group has identified four components with distinct consumption patterns: the linear accelerator (LINAC); the automation equipment; the shielding and housing; and the remaining non‑significant components. Identifying these components and determining an appropriate useful life for each – recognising that they wear, are upgraded, or become technologically obsolete at different rates – is inherently judgemental. In assessing and reviewing useful lives, management has regard to a range of internal and external information, including technical and operational data on unit and component performance; the observed maintenance and cost profile of the deployed fleet; planned upgrades and component replacements and their effect on the expected service potential of each unit; and relevant legal, regulatory and contractual considerations. In accordance with AASB 116, useful lives and residual values are reviewed at least at each annual reporting date, with any change accounted for prospectively as a change in accounting estimate. Following that review, the useful lives determined as at 30 June 2026 were revised as follows: linear accelerators 15 years (previously 10 years); automation equipment 10 years (previously 5 years); shielding and housing 25 years (previously 20 years); and non‑significant components 15 years (previously 10 years). The revision has been applied to the carrying amounts of the affected components from 30 June 2026. As the revised lives were determined at the reporting date, there is no effect on depreciation expense for the year ended 30 June 2026. Depreciation expense on the deployed fleet in existence at 30 June 2026 is expected to be approximately $9.538m lower for the year ending 30 June 2027 than it would have been under the previous estimates. Leases of PhotonAssay™ units as lessor The Group acts as lessor of PhotonAssay™ units supplied to customers under PhotonAssay Purchase Agreements (APAs). Classifying these arrangements as operating or finance leases is a significant accounting judgement that turns on whether an APA transfers substantially all the risks and rewards incidental to ownership of the underlying unit to the customer, as required by AASB 16. In making this assessment, management considers the overall economic substance of each arrangement rather than any single contractual feature, and has concluded that substantially all such risks and rewards are retained by the Group. In reaching this conclusion, management has had regard to the overall economic substance of the arrangements, including the structure of the lease payments and the extent of the risks and rewards that the Group continues to bear over the economic life of each unit. As substantially all the risks and rewards of ownership remain with the Group, all APAs are classified as operating leases; the units are retained within property, plant and equipment and depreciated over their economic life, and lease revenue is recognised on a straight‑line basis over the lease term. Functional currency A significant judgement for the Group is the determination of the functional currency of the Company and each of its subsidiaries and branches. In accordance with AASB 121, each entity’s functional currency is the currency of the primary economic environment in which it operates, determined principally by reference to the currency that most influences its revenue and the costs of providing its services, together with the relevant secondary indicators. This assessment is performed separately for each entity and requires judgement given the Group’s international operations and the deployment of PhotonAssay™ units across multiple jurisdictions. 70 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED The Company’s functional currency has been determined to be the Australian dollar, which is also the presentation currency of the consolidated financial statements, while the Group’s operating entities have a number of different functional currencies reflecting their respective economic environments. A functional currency is changed only when there is a change in the underlying transactions, events and conditions relevant to the entity. The functional currencies determined affect the translation of foreign operations into the Group’s Australian dollar presentation currency and the related exchange differences recognised in the foreign currency translation reserve within equity. Recognition of deferred tax assets The recognition of deferred tax assets requires management to assess whether it is probable that sufficient future taxable profits will be available against which unused tax losses, unused tax offsets and deductible temporary differences can be utilised. This assessment involves significant judgement and estimation, including forecasts of future taxable profits, the periods over which temporary differences are expected to reverse, and the expected timing of utilisation of carried‑forward tax losses and offsets. These estimates are inherently uncertain and are affected by the Group’s future financial performance, the continued deployment and utilisation of the PhotonAssay™ fleet, and the tax legislation in force across the jurisdictions in which the Group operates. During the year ended 30 June 2026, the Group recognised previously unrecognised deferred tax assets of $5.178m, comprising carried‑forward tax losses, research and development tax offsets, and deductible temporary differences including in respect of property, plant and equipment. These deferred tax assets were not recognised in prior periods. As the Group’s operations have scaled and its earnings trajectory has matured, and following the taxable profits arising in Australia on the transfer of PhotonAssay™ units to international subsidiaries, management reassessed the recoverability of these assets and concluded that it has become probable that sufficient future taxable profits will be available to support their recognition. Consistent with AASB 112 Income Taxes, a previously unrecognised deferred tax asset is recognised in the period in which its recovery becomes probable. The resulting deferred tax asset is set out in Note 8, which also reconciles the income tax benefit for the year. Revenue recognition PhotonAssay™ revenue PhotonAssay™ revenue represents the Group’s principal source of revenue and comprises fixed and variable operating lease payments arising from customer use of PhotonAssay™ units. The Group has assessed all PhotonAssay™ Purchase Agreements (APAs) in force at the reporting date and concluded that each is classified as an operating lease under AASB 16. The Group has assessed that the APAs do not transfer substantially all of the risks and rewards incidental to ownership of the underlying PhotonAssay™ units to customers. This assessment applies the primary classification principle under AASB 16 and is supported by an evaluation of the supporting finance lease indicators. Key features underpinning the operating lease classification include: retention by Chrysos of utilisation‑linked rewards through Additional Assay Charges (AAC); availability warranty risk under which MMAP may be reduced if minimum unit availability is not achieved; technological obsolescence risk; and redeployment and vacancy risk. No APA transfers legal title to the customer and no bargain purchase options exist. The classification of all APAs as operating leases is a significant accounting judgement. Minimum Monthly Assay Payments (MMAP) represent the fixed lease payment component of each APA and are recognised as lease revenue on a straight‑line basis over the lease term in accordance with AASB 16. MMAP is subject to either fixed annual percentage increases or CPI‑linked indexation as specified in each APA. Where the resulting contractual payments are not on a straight‑line basis, the Group recognises revenue on a straight‑line basis over the lease term; any difference between revenue recognised on a straight‑line basis and amounts invoiced under the APA is recognised within receivables or accrued lease revenue, as appropriate. MMAP may be reduced where a unit fails to achieve the minimum availability threshold specified in the APA. Such reductions are recognised in the period in which the event giving rise to the reduction occurs and can be reliably measured. Additional Assay Charges (AAC) are variable lease payments that arise when assay volumes processed in a month exceed the minimum threshold specified in the APA. As usage‑based, non‑obligatory payments, AAC is excluded from the measurement of the present value of lease payments for classification purposes under AASB 16. AAC is recognised as variable lease revenue in the month in which the excess volume is recognised within receivables or accrued lease revenue. Together, MMAP and AAC are presented as PhotonAssay™ revenue in the statement of comprehensive income, representing the total operating lease revenue from the Group’s deployed fleet. Annual Report 2026 71
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Notes to the Consolidated Financial Statements CONTINUED Revenue from contracts with customers Revenue is recognised at an amount that reflects the consideration to which the Group expects to be entitled in exchange for transferring goods or services to a customer. For each contract with a customer, the Group: identifies the contract with a customer; identifies the performance obligations; determines the transaction price, which takes into account estimates of variable consideration and the time value of money; allocates the transaction price to the performance obligations based on their relative stand‑alone selling prices; and recognises revenue when or as the performance obligations are satisfied in a manner that depicts the transfer to the customer of the goods or services promised. Interest Interest income is recognised as interest accrues using the effective interest method. This method calculates the amortised cost of a financial asset and allocates the interest income over the relevant period using the effective interest rate, being the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the net carrying amount of the financial asset. This policy ensures compliance with AASB 9 Financial Instruments . Other revenue Other revenue comprises revenue from sources other than PhotonAssay™ lease revenue and interest. It is recognised when it is received or when the right to receive payment is established, in accordance with AASB 15 Revenue from Contracts with Customers. Leases of PhotonAssay™ units as lessor Classification of leases Each PhotonAssay™ APA is classified at the inception date as either an operating lease or a finance lease based on whether the lease transfers substantially all the risks and rewards incidental to ownership of the underlying asset. The indicators of a finance lease specified in AASB 16 are considered individually and in combination but are not always conclusive. The lease term comprises the non‑cancellable period of the lease together with periods covered by an option to extend the lease where the lessee is reasonably certain to exercise that option. The exercise of an extension option that forms part of the original terms and conditions of an APA is not, of itself, a lease modification. Lease classification is reassessed only if there is a lease modification. The Group has classified all APAs as operating leases because they do not transfer substantially all the risks and rewards incidental to ownership of the PhotonAssay™ units. Accordingly, the Group continues to recognise the units as property, plant and equipment in the consolidated statement of financial position and depreciates them over their assessed useful lives in accordance with AASB 116. The Group does not derecognise the units or recognise a net investment in the lease. Future fixed lease payments receivable under non‑cancellable APAs are disclosed in accordance with AASB 16. Allocation of consideration Where a PhotonAssay™ APA contains both lease and non‑lease components, the Group allocates the consideration to each component on the basis of relative standalone prices at inception or modification, in accordance with AASB 16 and AASB 15. The Group assesses each APA to determine whether material non‑lease components exist. Based on the nature of services provided under current APAs, management has concluded that no material non‑lease components require separate accounting treatment. The AASB 15 Revenue from Contracts with Customers framework does not apply to MMAP or AAC, which are operating lease payments. Where the Group acts as a lessee – for example in respect of office premises or equipment – right‑of‑use assets and lease liabilities are recognised at the commencement date in accordance with the AASB 16 lessee accounting requirements and disclosed separately in the notes to the financial statements. Income tax The income tax expense or benefit for the period is the tax payable on that period’s taxable income based on the applicable income tax rate for each jurisdiction, adjusted by the changes in deferred tax assets and liabilities attributable to temporary differences, unused tax losses and the adjustment recognised for prior periods, where applicable. Deferred tax assets and liabilities are recognised for temporary differences at the tax rates expected to be applied when the assets are recovered or liabilities are settled, based on those tax rates that are enacted or substantively enacted, except for: – Wh en the taxable temporary difference is associated with interests in subsidiaries, associates or joint ventures, and the timing of the reversal can be controlled, and it is probable that the temporary difference will not reverse in the foreseeable future. 72 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED Deferred tax assets are recognised for deductible temporary differences and unused tax losses only if it is probable that future taxable amounts will be available to utilise those temporary differences and losses. The carrying amount of recognised and unrecognised deferred tax assets are reviewed at each reporting date. Deferred tax assets and liabilities are offset only where there is a legally enforceable right to offset current tax assets against current tax liabilities and deferred tax assets against deferred tax liabilities; and they relate to the same taxable authority on either the same taxable entity or different taxable entities which intend to settle simultaneously. This policy ensures compliance with AASB 112 Income Taxes and incorporates best practices for transparency and clarity in financial reporting. Goods and services tax (‘GST’) and other similar taxes Revenues, expenses and assets are recognised net of the amount of associated GST, unless the GST incurred is not recoverable from the tax authority. In this case it is recognised as part of the cost of the acquisition of the asset or as part of the expense. Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the tax authority is included in other receivables or other payables in the statement of financial position. Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from, or payable to the tax authority, are presented as operating cash flows. Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the tax authority. Cash and cash equivalents Cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short‑term highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. For the statement of cash flows presentation purposes, cash and cash equivalents also includes bank overdrafts, which are shown within borrowings in current liabilities on the statement of financial position. Trade and other receivables Trade and other receivables are initially recognised at fair value and subsequently measured at amortised cost, less provision for doubtful debts. Trade receivable are usually due for settlement no more than 45 days from the date of recognition. For the purpose of assessing whether trade receivables are exceeding agreed terms, balances are considered net of any customer deposits held that specifically relate to those receivables. Trade receivables are assessed both on a collective basis, using a provision matrix that groups receivables by shared credit risk characteristics, and on an individual basis where specific circumstances warrant. Where there is objective evidence that a trade receivable is credit impaired – for example, significant financial difficulty of the customer, a breach of contract such as default or significant delinquency in payments, or it becoming probable that the customer will enter financial reorganisation – that receivable is assessed individually and a specific loss allowance is recognised equal to its lifetime expected credit losses. The specific allowance is measured as the difference between the receivable’s carrying amount and the present value of the cash flows the Group expects to recover, after taking into account any customer deposit or other security held in respect of that balance. Where indicators of increased credit risk exist for a specific customer, the Group performs an individual assessment of recoverability and may recognise a specific expected credit loss allowance based on management’s estimate of the probability and severity of default. Expected credit losses are reassessed at each reporting date. The Group’s assessment of expected credit losses may change as the Group expands into new customers, jurisdictions and operating environments, and as economic conditions affecting customers evolve. Financial assets are derecognised when the rights to receive cash flows expire or are transferred and substantially all the risks and rewards of ownership have been transferred. A financial asset is written off when there is no reasonable expectation of recovery of all or part of the asset. Annual Report 2026 73
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Notes to the Consolidated Financial Statements CONTINUED Financial instruments Financial assets at amortised cost A financial asset is measured at amortised cost only if both of the following conditions are met: (i) it is held within a business model whose objective is to hold assets in order to collect contractual cash flows; and (ii) the contractual terms of the financial asset represent contractual cash flows that are solely payments of principal and interest. Derivative instruments Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The Group does not designate any derivatives as hedging instruments. Accordingly, all changes in the fair value of derivatives are recognised in profit or loss. Derivative financial instruments are entered into by the Group for the purpose of managing its exposures to changes in foreign exchange rates and interest rates arising in the normal course of business. The principal derivatives that may be used are forward foreign exchange contracts and interest rate options. The use of derivative financial instruments is subject to a set of policies, procedures and limits approved by the Board of Directors. The Group does not trade in derivative financial instruments for speculative purposes. Impairment of financial assets The Group recognises a loss allowance for expected credit losses on financial assets which are either measured at amortised cost or fair value through other comprehensive income. The measurement of the loss allowance depends upon the Group’s assessment at the end of each reporting period as to whether the financial instrument’s credit risk has increased significantly since initial recognition, based on reasonable and supportable information that is available without undue cost or effort to obtain. Where there has not been a significant increase in exposure to credit risk since initial recognition, a 12‑month expected credit loss allowance is estimated. This represents a portion of the asset’s lifetime expected credit losses that is attributable to a default event that is possible within the next 12 months. Where a financial asset has become credit impaired or where it is determined that credit risk has increased significantly, the loss allowance is based on the asset’s lifetime expected credit losses. The amount of expected credit loss recognised is measured on the basis of the probability weighted present value of anticipated cash shortfalls over the life of the instrument discounted at the original effective interest rate. Trade and other payables These amounts represent liabilities for goods and services provided to the Group prior to the end of the financial year and which are unpaid at 30 June 2026. Due to their short‑term and long‑term nature they are either measured at amortised cost and are not discounted (short‑term), or recognised at the present value of the trade payments to be made over the credit term period, discounted using a market rate of interest (long‑term). Employee benefits Short‑term employee benefits Liabilities for wages and salaries, including non‑monetary benefits, annual leave and long service leave expected to be settled wholly within 12 months of the reporting date are measured at the amounts expected to be paid when the liabilities are settled. Other long‑term employee benefits The liability for annual leave and long service leave not expected to be settled within 12 months of the reporting date measured as the present value of expected future payments to be made in respect of services provided by employees up to the reporting date. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the reporting date on high quality corporate bonds with terms to maturity and currency that match, as closely as possible, the estimated future cash outflows. Defined contribution plans Contributions to defined contribution plans are expensed in the period in which they are incurred. 74 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED Provisions Provisions are recognised when the Group has a present (legal or constructive) obligation as a result of a past event, it is probable the Group will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation. If the time value of money is material, provisions are discounted using a current pre‑tax rate specific to the liability. Property, plant and equipment For plant and equipment which is under construction (PhotonAssay™ units) and not yet in use, this is held at historical cost less any impairment. Once plant and equipment are available for use, they are subsequently stated at historical cost less accumulated depreciation and impairment once the asset is available or ready for use. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Other items of plant and equipment and motor vehicles are measured at cost less accumulated depreciation and impairment. Subsequent expenditure on an item of property, plant and equipment is recognised in the carrying amount of the item only when it is probable that future economic benefits associated with the expenditure will flow to the Group and the cost can be measured reliably. The cost of replacing a significant part of an item is capitalised when these recognition criteria are met, and the carrying amount of the replaced part is derecognised. Where the carrying amount of the replaced part cannot be determined directly, the cost of the replacement is used as an indication of the cost of the replaced part at the time it was acquired or constructed. The costs of day‑to‑day servicing, repairs and maintenance are recognised in profit or loss as incurred. Depreciation as reviewed during the financial period, is calculated on a straight‑line basis to write off the net cost of each item of plant and equipment over their expected useful lives. Each component of PhotonAssay™ units with a cost that is significant in relation to the total cost of the asset is depreciated separately. The estimated useful lives in the current and comparative periods are as follows: Plant and Equipment – Mo tor Vehicles – Plant and Equipment – Fur niture and Fittings – Of fice Equipment – R & D Eq uipment 5 years 10 years 10 years 4 years 4 years Deployed PhotonAssay™ Units on a component basis – Li near Accelerators – Au tomation Equipment – Sh ielding and Housing – No n‑significant components 10 years 5 years 20 years 10 years The residual values, useful lives and depreciation methods of property, plant and equipment are reviewed at least at the end of each annual reporting period and adjusted if appropriate. Any changes are accounted for prospectively as a change in accounting estimate in accordance with AASB 108. An item of property, plant and equipment is derecognised upon either disposal or when there is no future economic benefit to the Group. Gains and losses between the carrying amount and the disposal proceeds are taken to profit or loss. INTANGIBLE ASSETS Acquired intangible assets are initially recognised at cost and relate to Intellectual Property (IP) (finite life intangible asset), primarily consisting of internally developed software embedded within the Group’s leased equipment, which performs real‑time analysis of soil samples. This software underpins the Group’s core offering – the delivery of analytical results to customers – and is fundamental to the Group’s revenue‑generating activities. The expected finite life of acquired intellectual property is five years, while reassessed during the financial period, remained consistent with prior financial periods. Internally developed software and hardware IP, where expenditure is incurred on the research phase of projects to develop new technologies and solutions is recognised as an expense as incurred. Annual Report 2026 75
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Notes to the Consolidated Financial Statements CONTINUED Costs that are directly attributable to analytics, tools or hardware IP during its development phase are recognised as capitalised development expenditure, provided they meet the following recognition requirements: – th e development costs can be measured reliably; – th e project is technically and commercially feasible; – th e Group intends to and has sufficient resources to complete the project; – th e Group has the ability to use or sell the IP created; and – th e software/hardware will generate probable future economic benefits. Development costs not meeting these criteria for capitalisation are expensed as incurred. Directly attributable costs include employee costs and costs incurred on analytics and tools or hardware IP development. Finite life intangible assets are subsequently measured at cost less amortisation and any impairment. The gains or losses recognised in profit or loss arising from the derecognition of intangible assets are measured as the difference between net disposal proceeds and the carrying amount of the intangible asset. The method and useful lives of finite life intangible assets are reviewed annually. Changes in the expected pattern of consumption or useful life are accounted for prospectively by changing the amortisation method or period. The expected finite life of internally developed analytics and tools or hardware described at Internally developed assets at Note 15, remain consistent with previous financial years assessment of 10 years. Impairment of non‑financial assets Non‑financial assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. Recoverable amount is the higher of an asset’s fair value less costs of disposal and value‑in‑use. The value‑in‑use is the present value of the estimated future cash flows relating to the asset using a pre‑tax discount rate specific to the asset or cash‑generating unit to which the asset belongs. Assets that do not have independent cash flows are grouped together to form a cash‑generating unit. Borrowings Loans and borrowings are initially recognised at the fair value, net of directly attributable transaction costs. Following initial recognition, they are subsequently measured at amortised cost using the effective interest rate. Borrowings comprise the Group’s syndicated debt facilities and other financing arrangements. Transaction costs that are directly attributable to the establishment of borrowings are included in the carrying amount of the liability and amortised over the term of the relevant facility using the effective interest method. Borrowings are classified as current liabilities unless the Group has, at the end of the reporting period, a substantive right to defer settlement of the liability for at least twelve months after the reporting date. Borrowings expected to be settled within twelve months after the reporting date, or for which the Group does not have such a substantive right to defer settlement, are classified as current liabilities. All other borrowings are classified as non‑current liabilities. The classification of borrowings reflects the contractual terms of the Group’s financing arrangements, including the assessment of covenant compliance and any rights to defer settlement that exist at the reporting date, in accordance with AASB 101 Presentation of Financial Statements . Finance costs Finance costs attributable to qualifying assets are capitalised as part of the asset. All other finance costs are expensed in the period in which they are incurred. Interest expense – cash flow classification Interest paid, comprising both interest on borrowings and interest on lease liabilities, is classified as a financing activity in the statement of cash flows. This classification reflects the nature and purpose of the underlying cash flows and is applied consistently to similar transactions. 76 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED Other financial liabilities Other financial liabilities are initially recognised at fair value, net of directly attributable transaction costs, and subsequently measured at amortised cost or fair value through profit or loss, depending on the nature of the liability. Customer deposits are amounts received from customers in advance of service or delivery. These are recognised as financial liabilities when received and are measured at amortised cost. Revenue is recognised, and the liability derecognised, when the related performance obligation is satisfied in accordance with AASB 15 Revenue from Contracts with Customers . Fair value measurement When an asset or liability, financial or non‑financial, is measured at fair value for recognition or disclosure purposes, the fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and assumes that the transaction will take place either in the principal market or in the absence of a principal market, in the most advantageous market. Fair value is measured using the assumptions that market participants would use when pricing the asset or liability, assuming they act in their economic best interests. For non‑financial assets, the fair value measurement is based on its highest and best use. Valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, are used, maximising the use of relevant observable inputs and minimising the use of unobservable inputs. Leases as lessee Right‑of‑use assets A right‑of‑use asset is recognised at the commencement date of a lease. The right‑of‑use asset is measured at cost, which comprises the initial amount of the lease liability, adjusted for, as applicable, any lease payments made at or before the commencement date net of any lease incentives received, any initial direct costs incurred, and, except where included in the cost of inventories, an estimate of costs expected to be incurred for dismantling and removing the underlying asset, and restoring the site or asset. Right‑of‑use assets are depreciated on a straight‑line basis over the unexpired period of the lease or the estimated useful life of the asset, whichever is the shorter. Where the Group expects to obtain ownership of the leased asset at the end of the lease term, the depreciation is over its estimated useful life. Right‑of use assets are subject to impairment or adjusted for any remeasurement of lease liabilities. Lease liabilities A lease liability is recognised at the commencement date of a lease. The lease liability is initially recognised at the present value of the lease payments to be made over the term of the lease, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group’s incremental borrowing rate. Lease payments comprise of fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, amounts expected to be paid under residual value guarantees, exercise price of a purchase option when the exercise of the option is reasonably certain to occur, and any anticipated termination penalties. The variable lease payments that do not depend on an index or a rate are expensed in the period in which they are incurred. Lease liabilities are measured at amortised cost using the effective interest method. The carrying amounts are remeasured if there is a change in the following: future lease payments arising from a change in an index or a rate used; residual guarantee; lease term; certainty of a purchase option and termination penalties. When a lease liability is remeasured, an adjustment is made to the corresponding right‑of‑use asset, or to profit or loss if the carrying amount of the right‑of‑use asset is fully written down. Short‑term leases and leases of low‑value assets The Group has elected not to recognise a right‑of‑use asset and corresponding lease liability for short‑term leases with terms of 12 months or less and leases of low‑value assets. Lease payments on these assets are expensed to profit or loss as incurred. Issued capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares, Options or Performance Rights are shown in equity as a deduction, from the proceeds. Annual Report 2026 77
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Notes to the Consolidated Financial Statements CONTINUED Share‑based payments Equity‑settled share‑based compensation benefits are provided to employees. Equity‑settled transactions are awards of shares, performance rights, or options over shares, that are provided to employees in exchange for the rendering of services. Cash‑settled transactions are awards of cash for the exchange of services, where the amount of cash is determined by reference to the share price. The cost of equity‑settled transactions are measured at fair value on grant date. Fair value is independently determined using Monte Carlo simulation option pricing model that takes into account the exercise price, the term of the option, the impact of dilution, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option, together with non‑vesting conditions that do not determine whether the Group receives the services that entitle the employees to receive payment. No account is taken of any other vesting conditions. The cost of equity‑settled transactions are recognised as an expense with a corresponding increase in equity over the vesting period. The cumulative charge to profit or loss is calculated based on the grant date fair value of the award, the best estimate of the number of awards that are likely to vest and the expired portion of the vesting period. The amount recognised in profit or loss for the period is the cumulative amount calculated at each reporting date less amounts already recognised in previous periods. If equity‑settled awards are modified, as a minimum an expense is recognised as if the modification has not been made. An additional expense is recognised, over the remaining vesting period, for any modification that increases the total fair value of the share‑based compensation benefit as at the date of modification. If the non‑vesting condition is within the control of the Group or employee, the failure to satisfy the condition is treated as a cancellation. If the condition is not within the control of the Group or employee and is not satisfied during the vesting period, any remaining expense for the award is recognised over the remaining vesting period, unless the award is forfeited. If equity‑settled awards are cancelled, they are treated as if they had vested on the date of cancellation, and any remaining expense is recognised immediately. If a new replacement award is substituted for the cancelled award, the cancelled and new award is treated as if they were a modification. Where equity‑settled awards lapse after the vesting period due to market‑based conditions not being met, any cumulative amount previously recognised in the share‑based payment reserve is not reversed through profit or loss. Instead, the amount is transferred within equity from the share‑based payment reserve to retained earnings. This reflects that the service condition has been satisfied and no further expense adjustment is required through the income statement upon lapse. Changes to accounting policies The Group has adopted all new and amended Australian Accounting Standards and Interpretations which were required to be applied from 1 July 2025. Effective Date Upcoming accounting standards and interpretations 1 January 2025 AASB 2023‑5 Amendments to Australian Accounting Standards – Lack of Exchangeability This amendment to AASB 121 clarifies when a currency is considered exchangeable and how to estimate a spot rate when exchangeability is lacking. It also introduces new disclosure requirements to help users understand the financial impact of using estimated rates. The Group has assessed the currencies in which it transacts and holds balances across the Group and concluded that all such currencies are exchangeable. No additional disclosure is required under the amendment for the current period. 1 July 2025 AASB 2026‑1 Amendments to Australian Accounting Standards – Disclosures about Uncertainties in the Financial Statements AASB 2026‑1 amends AASB 136 and AASB 137 to provide additional illustrative examples on how entities apply the requirements of those Standards in the presence of uncertainty. The Group does not expect this amendment to result in any material changes to its existing accounting policies. While the amendments provide clarification and illustrative examples of the standards, their overall impact on the Group’s financial reporting is expected to be minimal. A number of new accounting standards are effective for annual reporting periods beginning after 1 January 2025 and earlier application is permitted. However, the Group has not early adopted the following new or amended accounting standards in preparing these consolidated financial statements. 78 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED Effective Date Upcoming accounting standards and interpretations 1 January 2026 AASB 2024‑2 Amendments to Australian Accounting Standards – Classification and Measurement of Financial Instruments This amendment to AASB 9 and AASB 7 clarifies when companies may derecognise a financial liability settled by electronic payments before actual settlement – providing specific conditions under which this is permissible. It also offers guidance on how to classify financial assets with ESG‑linked or similar contingent features and introduces enhanced disclosures for such instruments. The Group expects the impact of this amendment to be minimal, as it primarily relates to the cut‑off of settlement for financial assets and liabilities. The Group will continue to monitor developments and ensure appropriate application of the amended recognition guidance in future reporting periods. 1 January 2026 AASB 2024‑3 Amendments to Australian Accounting Standards – Annual Improvements Volume 11 This suite of minor amendments affects several standards including AASB 1, 7, 9, 10, and 107. The changes aim to improve consistency, clarity, and eliminate interpretative ambiguity across financial reporting requirements. The Group does not expect this amendment to result in any material changes to its existing accounting policies. While the amendments clarify aspects of several standards, their overall impact on the Group’s financial reporting is expected to be limited. 1 January 2026 AASB 2025‑1 Amendments to Australian Accounting Standards – Contracts Referencing Nature‑dependent Electricity This amendment addresses power purchase agreements (PPAs) linked to renewable sources by clarifying the ‘own‑use’ exemption and hedge accounting treatment under AASB 9. It also requires additional disclosures for PPAs treated as financial instruments. The Group does not currently have any power purchase agreements in place and therefore expects no impact from this amendment. This position will be reassessed if relevant contractual arrangements are entered into in future periods. 1 January 2027 AASB 18 Presentation and Disclosure in Financial Statements AASB 18 was issued in June 2024 and replaces AASB 101 Presentation of Financial Statements . The new standard introduces new requirements for the Statement of Profit or Loss, including, new categories for the classification of income and expenses into operating, investing and financing categories, and presentation of subtotals for “operating profit” and “profit before financing and income taxes”. Additional disclosure requirements are introduced for management‑defined performance measures and new principles for aggregation and disaggregation of information in the notes and the primary financial statements and the presentation of interest and dividends in the statement of cash flows. The new standard is effective for annual periods beginning on or after 1 January 2027 and will first apply to the Group for the financial year ending 30 June 2028. This new standard is not expected to have an impact on the recognition and measurement of assets, liabilities, income and expenses, however there will likely be changes in how the Statement of Profit or Loss and Statement of Financial Position line items are presented as well as some additional disclosures in the Notes to the Financial Statements. The Group is in the process of assessing the impact of the new standard. 1 January 2027 AASB 2025‑4 Amendments to Australian Accounting Standards‑Translation to a Hyperinflationary Presentation Currency These amendments to AASB 121 and AASB 129 clarify the translation procedures that apply where an entity’s presentation currency is that of a hyperinflationary economy. They address the circumstances in which an entity, or a foreign operation, whose functional currency is that of a non‑hyperinflationary economy translates its results and financial position into the presentation currency of a hyperinflationary economy. The Group’s presentation currency is the Australian dollar, which is not the currency of a hyperinflationary economy, and the Group does not expect to adopt a hyperinflationary presentation currency. Accordingly, the amendments are not expected to have a material impact on the Group’s financial statements. Annual Report 2026 79
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Notes to the Consolidated Financial Statements CONTINUED Effective Date Upcoming accounting standards and interpretations 1 January 2028 AASB 2014‑10 Amendments to Australian Accounting Standards – Sale or Contribution of Assets between an Investor and its Associate or Joint Venture This amendment clarifies the accounting for gains or losses on transactions between an investor and its associate or joint venture. A full gain is recognised if the assets transferred meet the definition of a “business” under AASB 3. The Group does not have any joint ventures or associates and therefore expects no impact from his amendment. Chrysos will continue to monitor its structure and assess applicability if relevant arrangements arise in the future. NOTE 3: REVENUE AND OTHER INCOME The Group generates revenue primarily from deployment of PhotonAssay™ units with its customers. Under each contract for deployment the Group assesses the terms to understand substantially where all of the risks and rewards incidental to ownership lie. Where the risks and rewards of ownership remain with the Group, revenue is recognised as operating lease revenue (see Note 3A). Where the risk and rewards transfer to the customer, the arrangement is accounted for as a finance lease. Currently, all lease arrangements are categorised as operating leases. Note 3A: PhotonAssay™ revenue 30 June 2026 $’000 30 June 2025 $’000 PhotonAssay™ revenue – minimum lease payments 62,487 55,892 PhotonAssay™ revenue – variable lease payments 25,512 10,098 87,999 65,990 Note 3B: PhotonAssay™ revenue from consumables 30 June 2026 $’000 30 June 2025 $’000 Revenue recognised at a point in time 111 122 Revenue recognised at a point in time relates to the sale of sample jars to PhotonAssay™ customers and relocation of PhotonAssay™ Units. Note 3C: Other income 30 June 2026 $’000 30 June 2025 $’000 Insurance recovery 886 – Interest 171 1,210 1,057 1,210 80 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED NOTE 4: OPERATING LEASES AS LESSOR – MATURITY ANALYSIS The Group has determined that the current leases as lessor for its PhotonAssay™ machines are all operating leases. Revenue recognised on these arrangements is set out in Note 3. The table below sets out the maturity analysis on an undiscounted basis for the non‑cancellable lease term: Non‑cancellable lease term – maturity analysis 30 June 2026 $’000 30 June 2025 $’000 Less than one year 59,378 47, 819 One to two years 37,230 34,765 Two to three years 26,625 25,423 Three to four years 12,097 31,925 Four to five years 4,692 22,542 More than five years – – Total undiscounted lease payments 140,022 162,474 NOTE 5: EXPENSES 30 June 2026 $’000 30 June 2025 $’000 Loss before income tax includes the following specific expenses: Depreciation Property, plant and equipment 1,086 944 Deployed units 18,580 13,049 Total depreciation 19,666 13,993 Amortisation Intellectual property 405 355 Right‑of‑use assets 1,315 913 Total amortisation 1,720 1,268 Total depreciation and amortisation 21,386 15,261 Finance costs Interest and finance charges paid/payable on other liabilities 5,059 2,732 (Gains)/Losses on foreign exchange 2,882 2,135 (Gains)/Losses on forward exchange contract (298) 95 Finance costs expensed 7,643 4,962 Contributions to defined contribution plans 2,789 2,211 NOTE 6: SEGMENT INFORMATION The Group identifies the Managing Director and CEO as the Chief Operating Decision Maker (CODM). The CODM monitors the Group’s defined segments and makes business decisions on the basis of, amongst other things, segment operating results. Factors used in identifying and defining segments include geographic location, economic profile, market attractiveness, competing or complementary services offered, and emerging management structures. Delivery of PhotonAssay™ to the identified segments facilitates the Group’s ability to generate Minimum Monthly Assay Payments and Additional Assay Charges. Unallocated items comprise mainly corporate assets, research and development, and head office expenses. The presentation of segment revenue is based predominantly on the location of PhotonAssay™ unit deployments. Of these revenues three major customers (FY25: three major customers) who individually accounted for more than 20% of total revenue contributed approximately 70% of total revenue (FY25: 71%). Annual Report 2026 81
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Notes to the Consolidated Financial Statements CONTINUED The Group has four reportable segments: – EME A; – APA C; – Am ericas; and – Co rporate and elimination. FY 2026 APAC $’000 Americas $’000 EMEA $’000 Corporate and elimination $’000 Total $’000 Revenue External revenues 38,952 23,358 25,800 – 88,110 Inter‑segment revenue 984 – – (984) – Total segment revenues 39,936 23,358 25,800 (984) 88,110 Unallocated other income 1,057 1,057 Total revenue and other income 89,167 Segment expenses PhotonAssay™ expenses ( 7,4 32) (6,025) ( 7, 807) – (21,264) Segment depreciation & amortisation (7 ,372) (5,831) (5,377) – (18,580) Other segment expenses (0) (15) (116) – (131) Total segment expenses (14,804) (11,871) (13,300) – (39,975) Segment results Segment profit before tax 25,132 11,487 12,500 (984) 48,135 Reconciliation of reportable segment result to loss before tax Unallocated central costs* (49,931) (49,931) Loss before tax (1,796) Income tax benefit 3,586 Profit for the year 1,790 Segment capital expenditure Additions to non‑current segment assets 14,834 16,206 – – 31,040 Assets Current segment assets 10,234 7, 312 10,809 – 28,355 Total segment assets** 57,416 55,312 42,810 – 155,538 Unallocated assets 150,933 150,933 Consolidated total assets 306,471 Liabilities Current segment liabilities – 16 230 – 246 Total segment liabilities** 300 732 1,132 – 2,164 Unallocated liabilities 106,629 106,629 Consolidated total liabilities 108,793 82 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED FY 2025 APAC $’000 Americas $’000 EMEA $’000 Corporate and Elimination $’000 Total $’000 Revenue External revenues 22,896 18,299 24,917 – 66,112 Inter‑segment revenue – – – – – Total segment revenues 22,896 18,299 24,917 – 66,112 Unallocated other income 1,210 1,210 Total revenue and other income 67,322 Segment expenses PhotonAssay™ expenses (6,648) (5,359) (3,665) – (15,672) Segment depreciation & amortisation (5,536) (3,075) (5,166) – (13,777) Other segment expenses (3) – (15) – (18) Total segment expenses (12,187) (8,434) (8,846) – (29,467) Segment results Segment profit before tax 10,709 9,865 16,071 – 36,645 Reconciliation of reportable segment result to loss before tax Unallocated central costs* (39,525) (39,525) Loss before tax (2,880) Income tax expense (5,343) Loss for the year (8,223) Segment capital expenditure Additions to non‑current segment assets 15,438 19,751 8,532 – 43,721 Assets Current segment assets 4,772 5,456 9,745 – 19,973 Total segment assets** 44,924 45,724 49,848 – 140,496 Unallocated assets 123,814 123,814 Consolidated total assets 264,310 Liabilities Current segment liabilities 219 – – – 219 Total segment liabilities** 1,349 884 531 – 2,764 Unallocated liabilities 63,244 63,244 Consolidated total liabilities 66,008 * Unallocated central costs comprise research, development, sales and head office costs associated with the Group’s growth and development t rajectory. Where possible costs attributable to operations are allocated to reportable segments. ** Fo r the purposes of monitoring segment performance and allocating resources between segments: – on ly deployed PhotonAssay™ units, debtors and other directly attributable assets are allocated to the segments; and – on ly liabilities directly attributable to the segments are recognised at a segment level and on deployment of a PhotonAssay™ unit to that segment, any associated liability is transferred on deployment. Annual Report 2026 83
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Notes to the Consolidated Financial Statements CONTINUED NOTE 7: EARNINGS PER SHARE 30 June 2026 $’000 30 June 2025 $’000 Profit/(loss) attributable to the equity holders of the company in the calculation of basic and diluted earnings per share 1,790 (8,223) 30 June 2026 No. 30 June 2025 No. Weighted average number of ordinary shares for the purposes of basic earnings per share 1 16,444,745 115,316,341 Dilutive potential ordinary shares 1,272,762 – Weighted average number of ordinary shares for the purposes of diluted earnings per share 117,717,507 115,316,341 From continuing operations Basic earnings/(loss) per share (cents) 1.54 ( 7.13) Diluted earnings/(loss) per share (cents) 1.52 ( 7.13) Basic earnings per share amounts are calculated by dividing net profit or loss for the year attributable to ordinary equity holders of the Company by the weighted average number of ordinary shares outstanding during the year. Diluted earnings per share amounts are calculated by adjusting basic earnings per share by the weighted average number of ordinary shares that would be issued on the conversion of all the dilutive potential ordinary shares into ordinary shares. Earnings used in the calculation of basic and diluted earnings per share reconcile to the net profit or loss after tax in the income statement as above. 84 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED NOTE 8: INCOME AND DEFERRED TAX 30 June 2026 $’000 30 June 2025 $’000 Income tax benefit/(expense) Current tax benefit/(expense) (2,968) (1,905) Deferred tax – origination and reversal of temporary differences 6,554 (3,438) Less: Temporary differences and tax losses not brought to account – – Aggregate income tax (expense)/benefit 3,586 (5,343) Numerical reconciliation of income tax benefit and tax at the statutory rate Loss before income tax benefit (1,796) (2,880) Tax expense/(benefit) at the statutory tax rate of 30% (FY25: 30%) (539) (864) Tax effect amounts which are not deductible/(taxable) in calculating taxable income: Deferred tax assets not brought to account 355 3,622 Difference in foreign tax rates (600) 902 Non‑creditable withholding taxes 351 384 Other non‑assessable and non‑deductible items 1,017 601 Recognition of previously unrecognised deferred tax assets (5,178) 241 Adjustment recognised for prior periods 1,073 549 Other tax movements (65) (92) (3,586) 5,343 Temporary differences and tax losses not brought to account – – Income tax (benefit)/expense (3,586) 5,343 Deferred tax asset/(liability) Trade and other receivables 104 47 Property, plant and equipment (1,837) (3,128) Intangible assets (2,048) 499 Employer provisions 688 532 Trade and other payables 485 62 Lease liabilities 1,411 1,544 Equity raising costs 785 1,036 Tax losses 7,4 85 3,767 Prepayments (41) – Unrealised gains/losses on foreign exchange 777 – Other – 16 R&D offsets 4,453 – ROU Asset (1,009) (1,232) Subtotal 11,253 3,143 Less: deferred tax assets on losses not recognised – – Deferred tax asset/(liability) 11,253 3,143 Annual Report 2026 85
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Notes to the Consolidated Financial Statements CONTINUED The Group recognised an income tax benefit of $3.586m for FY26 (FY25: income tax expense of $5.343m). The movement from a prior year expense to a current year benefit was primarily driven by the recognition of deferred tax on temporary differences arising from the intra‑group sale of PhotonAssay™ units to international subsidiaries, resulting in a deferred tax benefit of $5.178m. These temporary differences arise as part of the Group’s international operating model when PhotonAssay™ units are transferred to local operating subsidiaries in accordance with transfer pricing principles. Accordingly, the benefit reflects the establishment of deferred tax balances associated with new international deployments rather than the underlying operating performance of the Group. This benefit, together with $0.539m arising at the statutory rate on the loss before income tax, was reduced by $2.131m of other reconciling items – principally non‑deductible and non‑assessable permanent differences and a prior period tax adjustment – giving the net income tax benefit of $3.586m recognised for the year. Deferred tax assets not recognised in international jurisdictions were $1.095m at 30 June 2026, comprising temporary differences and carried forward tax losses that do not yet satisfy the recognition criteria under the accounting standards. The significant reduction from the prior year reflects increased certainty over the future utilisation of deferred tax assets as the Group’s international operations continue to mature and generate taxable profits in the relevant jurisdictions. The Group expects recognised deferred tax assets, including those arising from the intra‑group transfer of PhotonAssay™ units, to provide future cash tax benefits through deductible temporary differences. Unrecognised deferred tax assets are expected to be recognised progressively as the relevant accounting recognition criteria are satisfied. While the Australian operations continue to utilise carried forward tax losses and R&D tax offsets, the Group incurs income tax liabilities in a number of overseas jurisdictions, with taxes paid in accordance with the relevant local tax legislation. The current year income tax benefit also reflects a combination of differences in foreign tax rates ($0.600m), non‑deductible and non‑assessable permanent differences ($1.017m), a prior period tax adjustment of $1.073m, and other minor tax adjustments. The prior period adjustment primarily relates to the completion and finalisation of taxation positions for earlier financial years following the preparation and lodgement of the relevant tax returns. Movements in deferred tax balances are shown below: Net Balance at 1 July 2025 $’000 Recognised in Profit or Loss $’000 Recognised in OCI $’000 Recognised Directly in Equity $’000 Other $’000 Net at 30 June 2026 $’000 Deferred Tax Assets $’000 Deferred Tax Liabilities $’000 Movement in deferred tax balances Trade and other receivables 47 57 – – – 104 104 – Property, plant and equipment (3,128) 1,291 – – – (1,837) – (1,837) Intangible assets 499 (2,547) – – – (2,048) – (2,048) Employer provisions 532 156 – – – 688 688 – Trade and other payables 62 423 – – – 485 485 – Lease liabilities 1,544 (133) – – – 1,411 1,411 – Equity raising costs 1,036 (251) – – – 785 785 – Tax losses 3,767 3,718 – – – 7,4 85 7,4 85 – Other 16 (16) – – – – – – ROUA (1,232) 223 – – – (1,009) – (1,009) Prepayment – (41) – – – (41) – (41) Unrealised gains/losses on foreign exchange – 777 – – – 777 777 – R&D offsets – 2,897 – – 1,556 4,453 4,453 – Subtotal 3,143 6,554 – – 1,556 11,253 16,188 (4,935) Offset of deferred tax asset/liabilities – – – – – – (4,407) 4,407 Deferred tax asset on losses not recognised – – – – – – – – Aggregate income tax benefit/(expense) 3,143 6,554 – – 1,556 11,253 11,781 (528) 86 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED Net Balance at 1 July 2024 $’000 Recognised in Profit or Loss $’000 Recognised in OCI $’000 Recognised Directly in Equity $’000 Other $’000 Net at 30 June 2025 $’000 Deferred Tax Assets $’000 Deferred Tax Liabilities $’000 Movement in deferred tax balances Trade and other receivables 120 (73) – – – 47 47 – Property, plant and equipment 75 (3,203) – – – (3,128) – (3,128) Intangible assets 740 (241) – – – 499 499 – Employer provisions 357 175 – – – 532 532 – Trade and other payables 197 (135) – – – 62 62 – Lease liabilities 10 1,534 – – – 1,544 1,544 – Equity raising costs 1,940 (904) – – – 1,036 1,036 – Tax losses 3,385 382 – – – 3,767 3,767 – Other (154) 170 – – – 16 16 – ROUA (89) (1,143) – – – (1,232) – (1,232) Subtotal 6,581 (3,438) – – – 3,143 7,503 (4,360) Offset of deferred tax asset/liabilities – – – – – – (4,360) 4,360 Deferred tax asset on losses not recognised – – – – – – – – Aggregate income tax benefit/(expense) 6,581 (3,438) – – – 3,143 3,143 – NOTE 9: CASH AND CASH EQUIVALENTS 30 June 2026 $’000 30 June 2025 $’000 Cash at Bank 25,892 21,520 Annual Report 2026 87
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Notes to the Consolidated Financial Statements CONTINUED NOTE 10: CURRENT ASSETS – TRADE AND OTHER RECEIVABLES 30 June 2026 $’000 30 June 2025 $’000 Trade receivables 24,447 19,812 Other receivables 8,676 7, 307 33,123 27,119 As of 30 June 2026, trade receivables totalling $9.602m have exceeded terms, while all other receivables remained within terms (FY25: $9.318m had exceeded terms). Of the overdue amount, $4.864m has been paid as of the date of this report. A provision for impairment of $1.574m was held (FY25: $0.411m). The provision for impairment includes a specific loss allowance of $1.133m recognised during the year against an individually credit impaired lease customer in Namibia. This is the first occasion on which the Group has recognised a specific provision against an individual customer balance. Refer to Note 18 for further information on credit risk. NOTE 11: TRADE AND OTHER PAYABLES 30 June 2026 $’000 30 June 2025 $’000 Current Trade payables 13,647 19,377 Accrued expenses 16,295 8,789 Supplier extended payment terms 4,781 5,867 34,723 34,033 The Group has extended payment terms with key suppliers. The amounts payable under these arrangements are shown above as ‘Supplier extended payment terms’ and are non‑interest bearing. The carrying amount of these amounts has been discounted to present value. The Group has reviewed its supplier payment practices and confirms that it does not have any supplier finance arrangements within the scope of AASB 2023‑1. While certain supplier payment terms have been extended, these are classified as standard trade payables and do not involve third‑party finance providers. Accordingly, the amendments to AASB 107 and AASB 7 have no impact on the Group’s disclosures for the current reporting period. The Group has an economic dependency on key suppliers. Further information is set out in Note 30. 88 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED NOTE 12: NON‑CURRENT ASSETS – PROPERTY, PLANT AND EQUIPMENT 30 June 2026 $’000 30 June 2025 $’000 Plant and equipment at cost 1,837 1,497 Less: accumulated depreciation (926) (790) 911 707 Motor vehicle at cost 571 579 Less: accumulated depreciation (305) (218) 266 361 Furniture and fittings at cost 5,989 5,602 Less: accumulated depreciation (1,868) (1,053) 4,121 4,549 Deployed units at cost (subject to operating leases as lessor) 180,001 15 7,108 Less: accumulated depreciation (52,818) (36,586) 127,183 120,522 Property, plant and equipment 132,481 126,139 Work in progress – units 71,707 59,976 71,707 59,976 Total property, plant and equipment 204,188 186,115 Property, plant and equipment reconciliation Plant and Equipment $’000 Motor Vehicles $’000 Furniture and Fittings $’000 Deployed Units $’000 WIP Units $’000 Total $’000 Balance at 1 July 2024 799 360 2,241 87,039 45,496 135,935 Additions 118 107 2,939 24,682 37,006 64,852 Transfers – – – 22,527 (22,527) – Depreciation expense (210) (105) (629) (13,049) – (13,993) Effect of movements in exchange rates – – (2) (677) – (679) Balance at 30 June 2025 707 362 4,549 120,522 59,975 186,115 Additions 341 31 387 14,008 21,680 36,447 Transfers – – – 9,042 (9,042) – Disposals – – – (157) – (157) Impairment – – – – (906) (906) Depreciation expense (137) (116) (833) (18,580) – (19,666) Effect of movements in exchange rates – (11) 18 2,348 – 2,355 Balance at 30 June 2026 911 266 4,121 127,183 71,707 204,188 Annual Report 2026 89
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Notes to the Consolidated Financial Statements CONTINUED NOTE 13: IMPAIRMENT OF ASSETS Impairment of capital work‑in‑progress During the year two LINAC cabins, each forming part of separate PhotonAssay™ units under construction, were damaged in transit to the respective deployment locations. Management assessed that the cabins no longer had future economic benefit and impaired the related capital work‑in‑progress, recognising a loss of $0.906m in impairment expense. The cabins were insured. An insurance recovery of $0.886m was recognised in other income when the compensation became receivable. The loss and the recovery have been presented separately and not offset. At 30 June 2026, $0.886m of the recovery remained outstanding and is included in trade and other receivables. NOTE 14: CAPITAL COMMITMENTS Capital commitments for property, plant and equipment At the end of the period there was $114.402m (FY25: $66.327m) in capital commitments relating to PhotonAssay™ units on order and under construction. NOTE 15: NON‑CURRENT ASSETS – INTANGIBLES 30 June 2026 $’000 30 June 2025 $’000 Internally developed assets 1,178 1,803 Less: accumulated amortisation (661) (881) Internally developed assets – WIP 7,510 5,469 8,027 6,391 Intangibles reconciliation Internally Developed Assets $’000 Internally Developed Assets – WIP $’000 Total $’000 Balance at 1 July 2024 1,277 2,901 4,178 Additions – 2,568 2,568 Disposals – – – Amortisation expense (355) – (355) Balance at 30 June 2025 922 5,469 6,391 Additions – 2,041 2,041 Disposals – – – Amortisation expense (405) – (405) Balance at 30 June 2026 517 7,510 8,027 90 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED NOTE 16: LOANS AND BORROWINGS 30 June 2026 $’000 30 June 2025 $’000 Current bank loan – 2,277 Non‑current bank loan (face value) 60,000 15,137 Less: unamortised transaction costs (555) – Total loan and borrowings 59,445 17,414 As at 30 June 2026, the Group had access to a $200m syndicated interest‑bearing loan facility comprising a term loan facility and a revolving loan facility, following the refinancing of its previous $95.0m Commonwealth Bank of Australia (CBA) facility. Prior to the refinancing, the Group drew down $40.123m under the CBA facility during the financial year. The Group drew $60.0m under the new facility, of which $54.882m was applied to fully repay the outstanding CBA borrowings and interest, with the remaining approximately $5.118m retained by the Group to cover capital commitments. As at 30 June 2026, $60.0m was drawn under the syndicated facility, with $140.0m remaining available for utilisation. Transaction costs of $1.850m were incurred in establishing the syndicated facility. Costs attributable to the drawn portion of the facility ($0.555m) have been offset against the carrying amount of the loan and are amortised to interest expense over the three‑year term using the effective interest method. The balance of $1.295m, attributable to undrawn commitments, is recognised as a prepayment and will be offset against borrowings as further amounts are drawn. The facility has a three‑year term from 15 June 2026, and is secured by a first ranking general security over the Group’s assets. It bears interest at a floating rate comprising the applicable margin plus BBSY (or its contractual successor benchmark), together with commitment fees on undrawn commitments. As at 30 June 2026, there were no covenants requiring compliance on or before the reporting date. The Group’s financial covenants are tested quarterly and include a Net Leverage Ratio and Interest Cover Ratio. These future tests do not impact the classification of borrowings, and the loan has been presented as current and non‑current based on the Group’s rights existing as at the reporting date. The facility does not contain any accelerated repayment clauses triggered solely by future covenant breaches. Accordingly, the Group has classified the borrowings in accordance with AASB 101 Presentation of Financial Statements based on the contractual rights in existence at the reporting date. Annual Report 2026 91
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Notes to the Consolidated Financial Statements CONTINUED Reconciliation of changes in liabilities arising from financing activities* Bank loan $’000 Lease liabilities $’000 Total $’000 Balance at 1 July 2024 – 2,646 2,646 Changes from financing cash flows Proceeds from borrowings 18,146 – 18,146 Repayment of borrowings (732) – (732) Repayment of lease liabilities – (1,182) (1,182) Interest paid (1,884) – (1,884) Total changes from financing cash flows 15,530 (1,182) 14,348 Other changes New leases – 3,564 3,564 Termination of leases – – – Interest expense 1,884 425 2,309 Total liability‑related other changes 1,884 3,989 5,873 The effect of changes in foreign exchange rates – – Balance at 30 June 2025 17,414 5,453 22,867 Changes from financing cash flows Proceeds from borrowings 100,123 – 100,123 Repayment of borrowings (5 7,5 37) – (5 7,5 37) Repayment of lease liabilities – (1,689) (1,689) Interest paid** (4,379) – (4,379) Transaction costs related to loans and borrowings (1,048) – (1,048) Total changes from financing cash flows 37,159 (1,689) 35,470 Other changes New leases – 701 701 Termination of leases – (15) (15) Interest expense 4,379 445 4,824 Transaction costs related to undrawn commitments 493 – 493 Total liability‑related other changes 4,872 1,131 6,003 The effect of changes in foreign exchange rates – (9) (9) Balance at 30 June 2026 59,445 4,886 64,331 * This reconciliation is presented for liabilities arising from financing activities only, as required by AASB 107.44A. It does not include financing cash f lows that do not give rise to, or settle, a liability – principally cash flows relating to equity. ** In terest paid above comprises only interest on liabilities arising from financing activities. It differs from interest paid in the consolidated statement of cash flows, which also includes interest paid on other obligations that do not arise from financing activities. The difference is not material. 92 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED NOTE 17: OTHER FINANCIAL LIABILITIES 30 June 2026 $’000 30 June 2025 $’000 Customer deposits 246 219 Derivative liabilities – 89 Other financial liabilities – current 246 308 Customer deposits 1,918 2,546 Other financial liabilities – non‑current 1,918 2,546 2,164 2,854 30 June 2026 $’000 30 June 2025 $’000 Customer deposits Balance at 1 July 2,765 4,021 New deposits received 820 873 Transfer to trade receivable (1,358) (2,129) Effects of movement in exchange rates (63) – Balance at 30 June 2,164 2,765 Derivative liabilities – 89 Total other financial liabilities 2,164 2,854 The Group seeks commitment deposits from its customers on contracts given the long lead time frequently associated with the deployment of PhotonAssay™. The deposits are non‑interest bearing however the disclosure of specific nature of these deposits, term and repayment arrangements are prohibited under the terms of the contracts held. Annual Report 2026 93
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Notes to the Consolidated Financial Statements CONTINUED NOTE 18: FINANCIAL INSTRUMENTS 30 June 2026 $’000 30 June 2025 $’000 Financial assets at amortised cost Cash and cash equivalents 25,892 21,520 Trade and other receivables 33,123 27,119 Financial assets measured at fair value Derivative financial assets 385 100 Financial liabilities at amortised cost Trade and other payables 29,942 28,166 Supplier extended payment terms 4,781 5,867 Loans and borrowings 59,445 17,414 Provisions – 49 Lease liabilities 4,886 5,453 Other financial liabilities 2,164 2,765 Financial liabilities measured at fair value Derivative financial liabilities – 89 Risk management is carried out by senior executives (“the Executive”) under frameworks approved by the Board of Directors (‘the Board’). These frameworks include identification and analysis of the risk exposure of the Group and appropriate procedures, controls and risk limits. The Executive identifies and evaluates the financial risks the Group is exposed to through the normal course of business. The key financial risks impacting the Group relate to its financial instruments as disclosed in the statement of financial position. Specifically, the key risk include interest rate risk and foreign currency risk. The Group monitors its exposure to these risks on a regular basis and may consider entering derivative financial instruments to manage these risks where appropriate. Market risk Interest rate risk The Group is exposed to interest rate risk primarily through borrowings with floating interest rates. To manage this risk, the Group regularly monitors its exposure by considering forecast debt levels, prevailing market conditions, and the use of derivatives to manage interest rate variability. This activity forms part of the Group’s broader financial risk management strategy overseen by senior management and the Board. During the period, the Group entered into an additional $15m notional interest rate cap option. As at 30 June 2026, the Group held interest rate cap options with an aggregate notional amount of $30m, hedging a significant portion of its floating interest rate exposure. The derivatives are not designated in a hedging relationship and are therefore measured at fair value through profit or loss. Their fair values are determined using Black’s model based on observable market inputs and, as such, the instruments are classified as Level 2 in the fair value hierarchy. 94 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED Foreign currency risk The Group undertakes certain transactions denominated in foreign currency and is exposed to foreign currency risk through foreign exchange rate fluctuations. Summary quantitative data amount the Group’s exposure to currency risks is as follows: $’000 USD $’000 CAD $’000 GHS $’000 TZS $’000 XOF Cash and cash equivalents 7,599 1,503 567 33 51 Trade receivables 4,730 3,885 1,802 1,478 1,405 Trade payables (821) (270) – (6) (1) Net exposure, AUD’000 11,508 5,118 2,369 1,505 1,455 Sensitivity at +10% in AUD’000 (strengthening) (1,151) (512) (237) (151) (145) Sensitivity at –10% in AUD’000 (weakening) 1,151 512 237 151 145 The Group closely monitors foreign currency markets and its exposure to foreign exchange rate fluctuations. Where considered appropriate, the Group uses forward exchange contracts to manage foreign currency risk associated with committed and anticipated foreign currency cash flows. All forward exchange contracts entered into during the period were settled as at 30 June 2026. Movements in the fair value of these contracts, together with any associated gains or losses recognised on final settlement, have been recognised in the consolidated statement of profit or loss. Price risk The Group is not exposed to any significant price risk. Credit risk Credit risk refers to the risk of financial loss in the instance a counterparty defaults on its contractual obligations to the Group. During the year ended 30 June 2026, one lease customer in Namibia experienced significant financial difficulty and was assessed as credit impaired at the reporting date. As a result, the Group recognised a specific expected credit loss allowance of $1.133m. This is the first occasion on which the Group has recognised a specific provision against an individual customer balance; the remaining 25% is considered recoverable having regard to expected collections and any deposit or other security held. No amounts were written off during the year, and, other than this customer, no other financial assets were credit impaired at the reporting date. In contracting with new clients, management assess the creditworthiness of each potential client and where appropriate referred to the Audit, Finance & Risk Committee for further consideration. The majority of the current lease customers of the Group are either listed on stock exchanges or their parent company is listed and frequently the customer is required to pay a deposit in advance of receiving their PhotonAssay™ unit, which is held throughout the life of the lease. Management have assessed the financial assets for impairment losses. This includes but is not limited to reviews of audited financial statements and available press information about the lessees which is determined to be predictive of the risk of loss. Liquidity risk Liquidity risk management requires the Group to maintain sufficient liquid assets to meet its obligations, including the funding of leased assets and property, plant and equipment to support future growth. The Group carefully manages the timing of supplier payments, and working capital requirements, leveraging extended payment term with key suppliers where appropriate and aligning working capital commitments with contracted cash inflows. The Group manages its operating and investing cash flow requirements through a combination of cash reserves, equity and debt funding. The Group did not raise equity during the financial year (FY25: nil). During the financial year, the Group refinanced its existing $95.0m Commonwealth Bank of Australia (CBA) facility with a new $200.0m syndicated debt facility, increasing available funding capacity to support the continued global deployment of PhotonAssay™ units. During FY26, total drawdowns under the CBA facility were $40.123m prior to refinancing. On 15 June 2026, the Group drew down $60.0m under the new syndicated facility, which was primarily used to fully repay the outstanding CBA borrowings. As at 30 June 2026, $60.0m was drawn under the syndicated facility, with $140.0m remaining available for future utilisation. The syndicated facility is secured against the Group’s assets and the Group continues to assess the adequacy of its available liquidity and funding capacity to support future growth plans. Annual Report 2026 95
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Notes to the Consolidated Financial Statements CONTINUED The following are the contractual liabilities as at the reporting date. 30 June 2026 Carrying Amount $’000 Total $’000 2 Months or Less $’000 2‑12 Months $’000 1‑2 Years $’000 2‑5 Years $’000 5+ Years $’000 Non‑derivatives Supplier extended payment terms 4,781 4,893 2,982 1,911 – – – Trade and other payables 29,942 29,942 27,508 2,434 – – – Lease liabilities 4,886 6,515 265 1,009 861 4,173 207 Loan and borrowings 59,445 60,000 – – – 60,000 – Other financial liabilities 2,164 2,164 246 – – 1,918 – 101,218 103,514 31,001 5,354 861 66,091 207 Derivatives Forward exchange contracts – – – – – – – – – – – – – – 30 June 2025 Carrying Amount $’000 Total $’000 2 Months or Less $’000 2‑12 Months $’000 1‑2 Years $’000 2‑5 Years $’000 5+ Years $’000 Non‑derivatives Supplier extended payment terms 5,867 6,056 2,572 3,484 – – – Trade and other payables 28,166 28,166 25,939 2,227 – – – Lease liabilities 5,453 7, 36 4 272 1,133 875 3,204 1,880 Loans and borrowings 17,414 17,414 – 2,277 – 15,137 – Other financial liabilities 2,765 2,765 219 – – 2,546 – 59,665 61,765 29,002 9,121 875 20,887 1,880 Derivatives Forward exchange contracts 89 89 – 89 – – – 89 89 – 89 – – – 96 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED NOTE 19: NON‑CURRENT ASSETS – RIGHT‑OF‑USE ASSETS 30 June 2026 $’000 30 June 2025 $’000 Property rentals 6,160 5,776 Less: Accumulated amortisation (2,516) (1,365) 3,644 4,411 Vehicles 138 – Less: Accumulated amortisation (6) – 132 – 3,776 4,411 Right‑of‑use assets reconciliation Motor Vehicles $’000 Property Rentals $’000 Total $’000 Balance at 1 July 2024 – 2,187 2,187 Additions – 3,124 3,124 Terminations – – – Amortisation expense – (913) (913) Effect of movements in exchange rates – 13 13 Balance at 30 June 2025 – 4,411 4,411 Additions 138 563 701 Terminations – (132) (132) Amortisation expense (6) (1,309) (1,315) Effect of movements in exchange rates – 111 111 Balance at 30 June 2026 132 3,644 3,776 NOTE 20: LEASE LIABILITIES 30 June 2026 $’000 30 June 2025 $’000 Current lease liabilities 839 990 Non‑current lease liabilities 4,047 4,463 Lease liabilities 4,886 5,453 Annual Report 2026 97
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Notes to the Consolidated Financial Statements CONTINUED Lease liability reconciliation Motor Vehicles $’000 Property Rentals $’000 Total $’000 Balance at 1 July 2024 – 2,646 2,646 Additions – 3,564 3,564 Terminations – – – Interest expense – 425 425 Lease payments – (1,182) (1,182) Effect of movements in exchange rates – – – Balance at 30 June 2025 – 5,453 5,453 Additions 138 563 701 Terminations – (15) (15) Interest expense 3 442 445 Lease payments (8) (1,681) (1,689) Effect of movements in exchange rates – (9) (9) Balance at 30 June 2026 133 4,753 4,886 NOTE 21: EQUITY – ISSUED CAPITAL 30 June 2026 Shares 30 June 2025 Shares 30 June 2026 $’000 30 June 2025 $’000 Ordinary shares – fully paid 116,501,297 116,311,297 215,370 214,261 Ordinary shares Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up of the Group in proportion to the number of and amounts paid on the shares held. The fully paid ordinary shares have no par value and the Group does not have a limited amount of authorised capital. On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote. Movement in ordinary shares during the year 30 June 2026 Shares 30 June 2025 Shares 30 June 2026 $’000 30 June 2025 $’000 Issued at 1 July 116,311,297 115,003,797 214,261 210,660 Issued for cash – – – – Exercise of share options 190,000 1, 307,500 1,126 3,619 Equity raising costs, net of tax – – (17) (18) Issued at 30 June – fully paid 116,501,297 116,311,297 215,370 214,261 The Group did not raise capital during the financial year (FY25: nil). The issue of equity that occurred in the financial year from the exercised options was $1.126m (FY25: $3.619m). All ordinary shares rank equally with regard to the Group’s residual assets and holders of these shares are entitled to dividends as declared from time to time and are entitled to one vote per share at general meetings of the Group. 98 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED NOTE 22: EQUITY – RESERVES 30 June 2026 $’000 30 June 2025 $’000 Balance at 1 July 2,072 2,756 Share options and performance rights granted in year 2,215 1,419 Share options vested and moved to ordinary shares (271) (1,012) Share option and performance rights forfeited (46) (25) Performance rights lapsed and moved to retained earnings (1,471) (1,066) Balance at 30 June 2,499 2,072 The reserve is used to recognise the value of equity benefits provided to employees and directors as part of their remuneration. At 30 June 2026, the Group’s foreign currency translation reserve was in deficit by $1.507m (FY25: surplus of $3.914m). NOTE 23: SHARE‑BASED PAYMENTS The Group’s incentive program has been in place since 2016 and underpins a broader strategy of rewarding performance and retaining key talent. The Group’s current Long‑Term Incentive (LTI) program comprises performance rights subject to performance and continued employment conditions. The program is designed to align participants’ interests with the creation of long‑term shareholder value. Awards during the year were subject to the following performance conditions, in addition to employment conditions: Executive & senior leadership LTI Performance Level Performance Period Target Performance Hurdle 1 July 2025 – 1 July 2028 Company Absolute TSR (CAGR), as detailed below. Performance Level Chrysos aTSR CAGR (3 years) % of Grant Vesting Stretch ≥ 20% CAGR 100% Between Target and Stretch > 10% CAGR & < 20% CAGR Pro‑rata Target 10% aTSR CAGR 50% Between Threshold and Target > 5% CAGR & < 10% CAGR Pro‑rata Threshold 5% CAGR 25% Below Threshold < 5% CAGR 0% Employee LTI Performance Level Performance Period Target Performance Hurdle 1 July 2025 – 1 July 2028 aTSR of 5% CAGR Vesting of LTI Performance Rights is also subject to continuity of service, except in the instance the Board determines otherwise, such as good leavers. All LTI awards to executive KMPs are subject to a claw back mechanism and malus provisions. No amounts are paid or payable by the recipient on receipt of the Performance Right. The Performance Right carry neither rights to dividends nor voting rights. Annual Report 2026 99
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Notes to the Consolidated Financial Statements CONTINUED The share‑based payment expense in relation to Options and Rights for 2026 is $2.169m (FY25: $1.394m). The key terms and conditions related to the grants under these programmes are as follows and all Options are to be settled by the physical delivery of shares. Grant Date/Employees Entitled Number of Instruments in Thousands Granted ’000s Vesting Conditions Exercise Price Contractual Life of Options Options granted to key management personnel and directors and remaining on issue at year end On 24 September 2021 58 3 years’ service from grant date $4.50 5 years Options granted to employees and remaining on issue at year end On 24 September 2021 175 3 years’ service from grant date $4.50 5 years Performance Rights granted to key management personnel and directors and remaining on issue at year end On 19 August 2024 316 3 years’ service from grant date $0.00 5 years On 25 November 2025 349 3 years’ service from grant date $0.00 5 years Performance Rights granted to employees and remaining on issue at year end On 19 August 2024 227 3 years’ service from grant date $0.00 5 years On 21 October 2024 95 3 years’ service from grant date $0.00 5 years On 9 October 2025 102 3 years’ service from grant date $0.00 5 years On 25 November 2025 195 3 years’ service from grant date $0.00 5 years On 26 November 2025 68 3 years’ service from grant date $0.00 5 years Total instruments on issue 1,585 No options expired during the year ended 30 June 2026. Share options issued in November 2021 have been fully exercised. Details of the Executive KMP remuneration framework, including the performance conditions attached to awards and movements in Executive KMP holdings, are provided in the Remuneration Report. Equity‑settled share option plan Set out below are summaries of Options granted: Number of Instruments 2026 Weighted Average Exercise Price 2026 Number of Instruments 2025 Weighted Average Exercise Price 2025 Outstanding at 1 July 422,500 $4.50 1,730,000 $2.65 Granted – – – – Exercised (190,000) $4.50 – – Exercised – – (1, 307,500) $2.00 Forfeited – – – – Outstanding at 30 June 232,500 $4.50 422,500 $2.38 The Options outstanding at 30 June 2026 had a weighted average exercise price of $4.50 (FY25: $4.50), and a weighted average remaining contractual life of 0.23 years (FY25: 1.26 years). Consistent with the Group’s current remuneration framework, no share options were granted during the year (FY25: nil). Long‑term incentive awards continue to be made through performance rights. During the period 190,000 (FY25: 1,307,500) ordinary shares were issued on the exercise of Options, for which the Group received $0.855m (FY25: $2.615m). 100 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED Set out below are summaries of Performance Rights granted: Number of Instruments 2026 Weighted Average Exercise Price 2026 Number of Instruments 2025 Weighted Average Exercise Price 2025 Outstanding at 1 July 1,199,493 $0.00 1,013,680 $0.00 Granted 712,910 $0.00 642,068 $0.00 Exercised – $0.00 – – Forfeited (20,771) $0.00 (13,315) $0.00 Lapsed (540,079) $0.00 (442,940) $0.00 Outstanding at 30 June 1,351,553 $0.00 1,199,493 $0.00 The Performance Rights outstanding at 30 June 2026 had a weighted average remaining contractual life of 1.87 years (FY25: 2.54 years). The Group granted a total of 712,910 Performance Rights (FY25: 642,068) to Executives and employees during FY26. These Performance Rights are subject to a combination of performance and service conditions, including Company Absolute Total Shareholder Return (CAGR), index‑related measures, and continued employment through to their respective vesting dates. All Performance Rights have a $Nil exercise price. Performance Rights granted to Executives were issued in November 2025, with a vesting date of 1 July 2028 and an expiry date of 4 December 2030. For Senior Leadership and other employees, the Performance Rights were granted on October and November 2025, vest on 30 June 2028, and expire on 29 June 2030. During the period nil ordinary shares (FY25: Nil) were issued for the exercise of Performance Rights. The 540,079 Performance Rights issued during FY24 were assessed at the end of their performance period in FY26. As the performance conditions were not met, all rights lapsed without vesting. The inputs used in the measurement of the fair values at grant date of the equity‑settled share‑based payment plans were as follows: Performance Right Programme Key Management Personnel and Directors Employees Weighted average 2026 2025 2026 2025 Fair value at grant date ($) 6.79 2.34 6.09‑6.79 2.34‑3.98 Share price at grant date ($) 8.47 5.39 7.87‑ 8.47 5.05‑5.39 Exercise price ($) 0.00 0.00 0.00 0.00 Expected volatility (%) 45% 45% 45% 45% Expected life 5 years 5 years 5 years 5 years Expected dividends ($) 0.00 0.00 0.00 0.00 Risk‑free interest rate (based on government bonds) 3.93% – 3.77%‑4.03% – Annual Report 2026 101
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Notes to the Consolidated Financial Statements CONTINUED NOTE 24: KEY MANAGEMENT PERSONNEL DISCLOSURES 30 June 2026 $ 30 June 2025 $ Short‑term employee benefits 2,299,603 2,149,704 Post‑employee benefits 87,103 86,918 Long‑term benefits 55,405 65,994 Share‑based payments 799,637 630,002 3,241,748 2,932,618 Information with regard to individual directors’ and executives’ compensation and equity instrument disclosures is provided in the remuneration report (audited) of the Directors’ report, as permitted by Corporations Regulations 2M.3. NOTE 25: RELATED PARTY TRANSACTIONS Parent entity Chrysos Corporation Limited has the following 100% wholly owned subsidiaries: – Ch rysos International Holdings Pty Ltd (Australia) – Ch rysos AU Operations Pty Ltd (Australia) – Ph otonAssay Canada Ltd (Canada) – Ch rysos CA Operations Ltd (Canada) – Ch rysos EST Pty Ltd ATF Chrysos EST Trust (Australia) – Ch rysos Africa Pty Ltd (Australia) – Ch rysos DRC Pty Ltd (Australia) – Ch rysos Mali Pty Ltd (Australia) – Ch rysos Ghana Pty Ltd (Australia) – Ch rysos KSA Pty Ltd (Australia) – Ch rysos CDI Operations SARLU (Côte d’Ivoire) – Ch rysos UK Operations Ltd (United Kingdom) – Ch rysos UK Services Ltd (United Kingdom) – Ch rysos America LLC (United States of America) – Ch rysos Guinea SARLU (Guinea) – Ch rysos Leasing Pty Ltd (Australia) – Ph otonAssay International Pty Ltd (Australia) – Ph otonAssay Burkina Pty Ltd (Australia) – Ph otonAssay Pty Ltd (Australia) – Ph otonAssay Mexico S.A. DE C.V. (Mexico) – Ph otonAssay Operations (Proprietary) Limited (Namibia) – Ph otonAssay New Zealand Pty Ltd (Australia) – Ch rysos PhotonAssay Ghana Ltd (Ghana) – Ph otonAssay Chile SpA (Chile) – Ph otonAssay Ethiopia Pty Ltd (Australia) – Ph otonAssay Suriname Pty Ltd (Australia) – Ph otonAssay Peru Pty Ltd (Australia) – Ph otonAssay Morocco Pty Ltd (Australia) – Ph otonAssay Finland Pty Ltd (Australia) The Group does not see any risk with the investment in wholly owned subsidiaries. 102 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED The Group’s related parties are predominantly subsidiaries and key management personnel of the Group. Disclosures relating to key management personnel are set out in Note 24 ‘Key management personnel disclosures’. Transactions between the parent company and its wholly owned subsidiaries are eliminated on consolidation and are not disclosed in this note. PhotonAssay Canada Ltd was previously disclosed as Chrysos CA Holdings Ltd and was renamed during the year ended 30 June 2026. Related party transactions 30 June 2026 $ 30 June 2025 $ Payments for other expenses – director related entities: RFC Ambrian Limited 3,391 2,206 Payment to RFC Ambrian Limited represents reimbursement of director’s travel expense. Receivable from and payable to related parties 30 June 2026 $ 30 June 2025 $ Current payables to director related entities: RFC Ambrian Limited – 611 Loans to/from related parties There are no loans with any related parties. NOTE 26: REMUNERATION OF AUDITORS During the financial year the following fees were paid or payable for services provided by firms who acted as auditor of the Group: Remuneration of auditors 30 June 2026 $ 30 June 2025 $ KPMG Audit and review of financial statements – Group 340,428 220,000 Audit and review of financial statements – controlled entities 128,511 91,024 Non‑audit services – – 468,939 311,024 Annual Report 2026 103
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Notes to the Consolidated Financial Statements CONTINUED NOTE 27: RECONCILIATION OF PROFIT/LOSS AFTER INCOME TAX TO NET CASH RECEIVED FROM OPERATING ACTIVITIES 30 June 2026 $’000 30 June 2025 $’000 Profit/(loss) after income tax benefit for the year 1,790 (8,223) Adjustments for: Tax (benefit)/expense (3,586) 5,343 Depreciation and amortisation 21,386 15,261 Foreign Exchange movement 267 (1,750) Finance expenses 662 2,161 Other non‑cash items 4,320 2,159 Change in operating assets and liabilities (Increase) in trade and other receivables (3,532) (9,487) (Increase) in current tax asset (922) (2,374) Increase in other assets (2,691) (2,297) Increase in trade and other payables 9 1,395 Increase in other liabilities (567) 2,807 Increase in employee benefits 842 3,871 (Decrease)/Increase in provisions (49) (34) Net cash received from operating activities 17,929 8,832 NOTE 28: PARENT ENTITY DISCLOSURES 30 June 2026 $’000 30 June 2025 $’000 Result of the parent entity Profit/(loss) for the period ( 7,952) 19,597 Other comprehensive income – – Total comprehensive income/(loss) for the period ( 7,952) 19,597 Financial position of parent entity at year end Current assets 24,103 17,26 4 Total assets 286,023 267,179 Current liabilities (1,457) (8,713) Total liabilities (53,600) (29,446) Share capital 215,370 214,261 Share based payment reserve 2,499 2,073 Retained earnings 14,554 21,399 Total equity 232,423 237,733 Guarantees entered into by the company Bank guarantees given by the Group in favour of landlords amounted to $0.854m (FY25 $0.860m). Contingent liabilities of the company The Company does not have any contingent liabilities other than the guarantees disclosed above. 104 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED Parent entity capital commitments for acquisition of property, plant and equipment At 30 June 2026, the Company had contractual commitments for the acquisition of property, plant and equipment of $25.723m (FY25: $26.910m). NOTE 29: DEED OF CROSS GUARANTEE Pursuant to ASIC Corporations (Wholly owned Companies) Instrument 2016/785 , the wholly‑owned subsidiaries listed below are relieved from the Corporations Act 2001 (Cth) requirements for preparation, audit and lodgement of financial and directors’ reports. The following entities became parties to the Deed of Cross Guarantee by virtue of a Deed of Assumption: – Ch rysos AU Operations Pty Ltd – 18 November 2024 – Ch rysos Leasing Pty Ltd – 18 November 2024 It is a condition of the Class Order that the company and its subsidiary enter into a Deed of Cross Guarantee. The effect of the Deed is that the company guarantees to each creditor payment in full of any debt in the event of the winding up of the subsidiary under certain provisions of the Corporations Act 2001 (Cth). If a winding up occurs under the provisions of the Act, the company will only be liable in the event that after six months any creditor has not been paid in full. The subsidiary has also given similar guarantees in the event that the company is wound up. A consolidated profit and loss statement, consolidated statement of comprehensive income and consolidated balance sheet, comprising the Company and subsidiaries which are a party to the Deed, after eliminating all transactions between parties to the deed of cross guarantee, at 30 June 2026 is set out below. Consolidated statement of profit or loss and other comprehensive income 30 June 2026 $’000 30 June 2025 $’000 Revenue and other income PhotonAssay™ revenue 35,899 23,869 Revenue from consumables – 122 Total revenue 35,899 23,991 Other income 5,453 19,368 Total revenue and other income 41,352 43,359 Operating expenses PhotonAssay™ expenses (6,625) (6,488) Employee benefit expenses (21,373) (19,208) Consulting and advisory fees (458) (704) Consumables cost of sales – 15 Travel and marketing costs (1,131) (921) IT costs (2,985) (2,206) Other expenses (2,253) (2,785) Impairment expenses (906) – Depreciation and amortisation expense (9,367) (6,118) Finance costs (5,599) (2,888) Profit/(loss) before income tax (9,345) 2,056 Income tax benefit/(expense) 2,165 (3,374) Profit/(loss) for the year (7,180) (1,318) Other comprehensive income for the year – – Total comprehensive loss for the year attributable to the owners from continuing operations (7,180) (1,318) Annual Report 2026 105
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Notes to the Consolidated Financial Statements CONTINUED Consolidated statement of financial position 30 June 2026 $’000 30 June 2025 $’000 Current assets Cash and cash equivalents 19,652 9,414 Trade and other receivables 14,509 9,498 Research and development receivable – 588 Other current assets 8,635 1,719 Prepayments 11,896 10,417 54,692 31,636 Non‑current assets Property, plant and equipment 100,364 88,301 Right‑of‑use assets 3,363 4,106 Intangible assets 8,027 6,391 Other financial assets 385 100 Investment in subsidiaries 58,464 22,376 Intercompany loans 49,662 86,856 Deferred tax asset 6,865 3,143 227,130 211,273 Total assets 281,822 242,909 Current liabilities Trade and other payables 20,180 17,294 Lease liabilities 515 683 Employee benefits 5,072 4,634 Other financial liabilities – 215 Provisions – 49 Loans and borrowings – 2,277 25,767 25,152 Non‑current liabilities Lease liabilities 3,943 4,463 Employee benefits 677 500 Other financial liabilities 300 1,431 Loans and borrowings 59,445 15,137 64,365 21,531 Total liabilities 90,132 46,683 Net assets 191,690 196,226 Equity Issued capital 215,370 214,261 Accumulated losses (26,179) (20,107) Reserves 2,499 2,072 Total equity 191,690 196,226 106 Chrysos Corporation
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Notes to the Consolidated Financial Statements CONTINUED NOTE 30: ECONOMIC DEPENDENCY Chrysos is reliant on several third‑party manufacturers and suppliers. While the Group has worked with a number of these parties for several years and has strong existing relationships, including with key manufacturer Nuctech, there is a risk that the Group will be unable to continue working with these parties, or to do so on the same or similar terms to those currently being experienced. Moreover, given the advanced technical nature of some of the componentry, it can be difficult to procure alternative suppliers. This could ultimately disrupt the unit deployment schedule and adversely impact financial performance. Chrysos’ key third‑party manufacturers and suppliers are based in international jurisdictions and are subject to geopolitical, transportation and raw material risks. Further, there is no guarantee that they will be able to continue to meet cost, quality and volume requirements for the Group to remain competitive and meet its contractual obligations with customers. NOTE 31: EVENTS AFTER THE REPORTING PERIOD No matter or circumstance has arisen since 30 June 2026 that has significantly affected, or may significantly affect the Group’s operations, the results of those operations, or the Company’s state of affairs in future financial years. Annual Report 2026 107
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Set out below is a list of entities that are consolidated in this set of Consolidated financial statements at the end of the financial year. Name of Entity Body Corporate, Partnership or Trust Place Incorporated % of Share Capital Held Directly or Indirectly by the Company in the Body Corporate Australian or Foreign Tax Resident Jurisdiction for Foreign Tax Residency 2026 Chrysos Corporation Limited Body Corporate Australia – Australia N/A Chrysos AU Operations Pty Ltd Body Corporate Australia 100% Australia N/A Chrysos Africa Pty Ltd 1 Body Corporate Australia 100% Australia N/A PhotonAssay Pty Ltd Body Corporate Australia 100% Australia N/A Chrysos Leasing Pty Ltd Body Corporate Australia 100% Australia N/A PhotonAssay International Pty Ltd Body Corporate Australia 100% Australia N/A PhotonAssay New Zealand Pty Ltd1 Body Corporate Australia 100% Australia N/A PhotonAssay Operations (Proprietary) Limited Body Corporate Namibia 100% Foreign Namibia PhotonAssay Mexico S.A. DE C.V. Body Corporate Mexico 100% Foreign Mexico Chrysos America LLC Body Corporate United States of America 100% Foreign United States of America PhotonAssay Canada Ltd 4 Body Corporate Canada 100% Foreign Canada Chrysos CA Operations Ltd Body Corporate Canada 100% Foreign Canada Chrysos CDI Operations SARLU Body Corporate Côte d’Ivoire 100% Foreign Côte d’Ivoire Chrysos DRC Pty Ltd Body Corporate Australia 100% Australia N/A Chrysos EST Pty Ltd Body Corporate Australia 100% Australia N/A Chrysos Ghana Pty Ltd 1 Body Corporate Australia 100% Australia N/A Chrysos Guinea SARLU 2 Body Corporate Guinea 100% Foreign Guinea Chrysos International Holdings Pty Ltd Body Corporate Australia 100% Australia N/A Chrysos Mali Pty Ltd Body Corporate Australia 100% Australia N/A Chrysos UK Operations Ltd Body Corporate United Kingdom 100% Foreign United Kingdom Chrysos UK Services Ltd Body Corporate United Kingdom 100% Foreign United Kingdom PhotonAssay Burkina Pty Ltd Body Corporate Australia 100% Australia N/A Chrysos KSA Pty Ltd Body Corporate Australia 100% Australia N/A PhotonAssay Chile SpA Body Corporate Chile 100% Foreign Chile PhotonAssay Ethiopia Pty Ltd Body Corporate Australia 100% Australia N/A PhotonAssay Finland Pty Ltd 1 Body Corporate Australia 100% Australia N/A Chrysos PhotonAssay Ghana Ltd Body Corporate Ghana 100% Foreign Ghana PhotonAssay Morocco Pty Ltd Body Corporate Australia 100% Australia N/A PhotonAssay Peru Pty Ltd Body Corporate Australia 100% Australia N/A PhotonAssay Suriname Pty Ltd1 Body Corporate Australia 100% Australia N/A 1. This is an entity which has a foreign registered Branch. 2 . Th is is a dormant entity as there are no operations in Guinea. 3. Ch rysos Operations Ltd, an entity incorporated in Tanzania and previously disclosed in the Group’s CEDS statement as tax resident in Tanzania, was deregistered during the year and is no longer included in the above disclosures. 4. Ph otonAssay Canada Ltd was previously disclosed as Chrysos CA Holdings Ltd and was renamed during the year ended 30 June 2026. Consolidated Entity Disclosure Statement 108 Chrysos Corporation
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Consolidated Entity Disclosure Statement CONTINUED BASIS OF PREPARATION Key assumptions and judgements Determination of tax residency Section 295 (3A) of the Corporations Act 2001 requires that the tax residency of each entity which is included in the Consolidated Entity Disclosure Statement (CEDS) be disclosed. For the purposes of this section, an entity is an Australian resident at the end of a financial year if the entity is: a) an A ustralian resident (within the meaning of the Income Tax Assessment Act 1997 ) at that time; or b) a pa rtnership, with at least one partner being an Australian resident (within the meaning of the Income Tax Assessment Act 1997) at that time; or c) a re sident trust estate (within the meaning of Division 6 of Part III of the Income Tax Assessment Act 1936 ) in relation to the year of income (within the meaning of that Act) that corresponds to the financial year. The determination of tax residency involves judgment as the determination of tax residency is highly fact dependent and there are currently several different interpretations that could be adopted, and which could give rise to a different conclusion on residency. In determining tax residency, the consolidated entity has applied the following interpretations: – Au stralian tax residency Th e consolidated entity has applied current legislation and judicial precedent, including having regard to the Commissioner of Taxation’s public guidance in Tax Ruling TR 2018/5. – Fo reign tax residency Th e consolidated entity has applied current legislation and where available judicial precedent in the determination of foreign tax residency. Where necessary, the consolidated entity has used independent tax advisers in foreign jurisdictions to assist in its determination of tax residency to ensure applicable foreign tax legislation has been complied with. Annual Report 2026 109
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1. In the opinion of the Directors of Chrysos Corporation Limited (the ‘Company’): a ) th e consolidated financial statements and notes that are set out on pages 64 to 107 and the remuneration report on pages 37 to 61 of the Directors’ report are in accordance with the Corporations Act 2001 , including: i) gi ving a true and fair view of the Group’s financial position as at 30 June 2026 and of its performance for the financial year ended on that date; and ii) co mplying with Australian Accounting Standards and the Corporations Regulations 2001; and b) th e consolidated entity disclosure statement as at 30 June 2026 set out on pages 108 to 109 is true and correct; and c) th ere are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable. 2. Th ere are reasonable grounds to believe that the Company and the group entities identified in Note 29 will be able to meet any obligations or liabilities to which they are or may become subject to by virtue of the Deed of Cross Guarantee between the Company and those group entities pursuant to ASIC Corporations (Wholly owned Companies) Instrument 2016/785 . 3. Th e Directors have been given the declarations required by Section 295A of the Corporations Act 2001 from the Chief Executive Officer and the Chief Financial Officer for the financial year ended 30 June 2026. 4. Th e Directors draw attention to Note 2 to the consolidated financial statements which includes a statement of compliance with International Financial Reporting Standards. Signed in accordance with a resolution of the Directors: Dated at Adelaide 10 August 2026 Dirk Moore Treasure Ro bert Henry Richard Adamson Director D irector Directors’ Declaration 110 Chrysos Corporation
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KPMG, an Australian partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation. Liability limited by a scheme approved under Professional Standards Legislation. Independent Auditor’s Report To the shareholders of Chrysos Corporation Limited Report on the audit of the Financial Report Opinion We have audited the Financial Report of Chrysos Corporation Limited (the Company). In our opinion, the accompanying Financial Report of the Company gives a true and fair view , including of the Group’s financial position as at 30 June 202 6 and of its financial performance for the year then ended, in accor dance with the Corporations Act 2001, in compliance with Australian Accounting Standards and the Corporations Regulations 2001. The Financial Report comprises: • Consolidated statement of financial position as at 30 June 2026; • Consolidated statement of profit or loss and other comprehensive income, Consolidated statement of changes in equity, and Consolidated statement of cash flows for the year then ended; • Consolidated entity disclosure statement and accompanying basis of preparation as at 30 June 2026; • Notes, including material accounting policies; and • Directors’ Declaration. The Group consists of the Company and the entities it controlled at the year end or from time to time during the financial year. Basis for opinion We conducted our audit in accordance with Australian Auditing Standards. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the Financial Report section of our report. We are independent of the Grou p in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the APES 110 Code of Ethics for Professional Accountants (including Independence Standards) issued by the Accounting Professional & Ethical Standards Board Limited (the Code) that are rel evant to audits of the financial report of public interest entities in Australia. We have fulfilled our other ethical responsibilities in accordance with these requirements. Key Audit Matters Key Audit Matters are those matters that, in our professional judgement, were of most significance in our audit of the Financial Report of the current period. This matter was addressed in the context of our audit of the Financial Report as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on this matter. Independent Auditor’s Report To the shareholders of Chrysos Corporation Limited Annual Report 2026 111
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Independent Auditor’s Report CONTINUED PhotonAssay revenue ($88 million) Refer to Note 3A to the Financial Report The key audit matter How the matter was addressed in our audit PhotonAssay revenue – minimum lease payments ($62.5 million) is a key audit matter due to: • The significance of the activity to the Group’s business and the balance being 70% of the Group’s total revenue and other income. • The volume and variety of lease contracts in the Group, requiring significant judgement to determine lease terms and measure the PhotonAssay revenue – minimum lease payments. We focussed on assessing the Group’s key judgements: • Application of lease accounting standards to the PhotonAssay revenue – minimum lease payments. • Assessment of whether the agreements transfer substantially all the risks and rewards of ownership of the underlying PhotonAssay assets. If this is the case, then the lease is a finance lease; if not, then it is an operating lease. • Considerations of the lease term, including the non -cancellable periods and early cancellation penalties contained in the leasing arrangements. This impacts the measurement of the lease, therefore is critical to the accuracy of the accounting. We involved senior audit team members in assessing this key audit matter. Our procedures included: • Assessed the appropriateness of Group’s accounting policies for PhotonAssay revenue – minimum lease payments against the accounting standard requirements, our business understanding and industry practice. • For a sample of leases, evaluated the lease classification based on its key terms in the signed lease arrangement contracts and against the criteria in the accounting standards. This included assessing the lease term and challenging the Group’s determination having consideration of non -cancellable periods, early cancellation penalties and renewal options contained in the leasing arrangements together with historical evidence of lessee renewals. • For a sample of leases, recalculated the relevant PhotonAssay revenue – minimum lease payments for the period using the lease terms estimated based on the signed lease arrangement contracts , considering any modifications and contractual termination and renewal clauses. We compared the calculation to the Group’s recognised operating lease revenue. • Assessed the Group’s disclosures in the financial report using our understanding obtained from our testing, against the requirements of the accounting standards. 112 Chrysos Corporation
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Independent Auditor’s Report CONTINUED Other Information Other Information is financial and non -financial information in Chrysos Corporation Limited’s annual report which is provided in addition to the Financial Report and the Auditor’s Report. The Directors are responsible for the Other Information. Our opinion on the Financial Report does not cover the Other Information and, accordingly, we do not express an audit opinion or any form of assurance conclusion thereon, with the exception of the Remuneration Report and our respective assurance conclusion. In connection with our audit of the Financial Report, our responsibility is to read the Other Information. In doing so, we consider whether the Other Information is materially inconsistent with the Financial Report or our knowledge obtained in the audit, or otherwise appears to be materially misstated. We are required to report if we conclude that there is a material misstatement of this Other Information, and based on the work we have performed on the Other Information that we obtained prior to the date of this Auditor’s Report we have nothing to report. Responsibilities of the Directors for the Financial Report The Directors are responsible for: • preparing the Financial Report in accordance with the Corporations Act 2001, including giving a true and fair view of the financial position and performance of the Group, and in compliance with Australian Accounting Standards and the Corporations Regulations 2001; • implementing necessary internal control to enable the preparation of a Financial Report in accordance with the Corporations Act 2001 , including giving a true and fair view of the financial position and performance of the Group, and that is free from material misstatement, whether due to fraud or error ; and • assessing the Group and Company’s ability to continue as a going concern and whether the use of the going concern basis of accounting is appropriate. This includes disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless they either intend to liquidate the Group and Company or to cease operations, or have no realistic alternative but to do so. Auditor’s responsibilities for the audit of the Financial Report Our objective is: • to obtain reasonable assurance about whether the Financial Report as a whole is free from material misstatement, whether due to fraud or error; and • to issue an Auditor’s Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error. They are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of th e Financial Report. A further description of our responsibilities for the audit of the Financial Report is located at the Auditing and Assurance Standards Board website at: https://www.auasb.gov.au/media/bwvjcgre/ar1_2024.pdf. This description forms part of our Auditor’s Report. Annual Report 2026 113
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Independent Auditor’s Report CONTINUED Report on the Remuneration Report Opinion In our opinion, the Remuneration Report of Chrysos Corporation Limited for the year ended 30 June 202 6, complies with Section 300A of the Corporations Act 2001. Directors’ responsibilities The Directors of the Company are responsible for the preparation and presentation of the Remuneration Report in accordance with Section 300A of the Corporations Act 2001. Our responsibilities We have audited the Remuneration Report included in pages 37 to 61 of the Directors’ report for the year ended 30 June 2026. Our responsibility is to express an opinion as to whether the Remuneration Report complies in all material respects with Section 300A of the Corporations Act 2001, based on our a udit conducted in accordance with Australian Auditing Standards. KPMG Paul Cenko Partner Adelaide 10 August 2026 114 Chrysos Corporation
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This document may contain forward looking statements including plans and objectives. You should not place undue reliance on these forward looking statements as actual results may differ, and may do so materially. Nothing in this document is or should be relied upon as a promise or representation as to the future. They reflect Chrysos’ views as at the date of this document, are not guarantees of future performance and are subject to certain uncertainties and risks, such as those described in the Governance and Risk section of this document. Subject to the relevant law, Chrysos assumes no obligation to update, review or revise any information in this document, regardless of whether new information, future events or any other factors affect the information contained in this document. While Chrysos’ results are reported under International Financial Reporting Standards (IFRS), this document may also include non‑IFRS information (such as EBITDA, contribution margin, free cash flow, annual recurring revenue (ARR), return on invested capital (ROIC), and lifetime duration (LTD)). These measures are provided in this document to assist you with understanding Chrysos’ financial performance and the condition of its business. They have not been independently audited or reviewed, and should not be considered an indication of, or an alternative to, IFRS measures. You should not place undue reliance on any non‑IFRS financial measures included in this document. The information in this document is for general information purposes only, and does not purport to be a complete or accurate statement of all material information regarding any potential investment in Chrysos. It has been prepared without taking into account your personal investment objectives, financial circumstances or needs. It is not intended to be, and should not be construed in any way as, investment, legal or financial advice. You should make your own assessment of the information and your own financial circumstances and obtain independent professional advice prior to taking any action based on the information contained in this document. To the maximum extent permitted by law, Chrysos does not accept any liability, either directly or indirectly, arising from any person relying, either wholly or partially, upon any information shown in, or omitted from this document. Under no circumstances will Chrysos be liable for any loss or damage caused by a person’s reliance on the information obtained from reading this document. Due to rounding, numbers presented throughout this document may not add up precisely to the totals provided and percentages may not precisely reflect the presented figures. Important Notices Annual Report 2026 115
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As at 3 August 2026 EQUITY SECURITY At a general meeting, every Shareholder present in person or by proxy, a body corporate representative, or attorney, has one vote on a show of hands and one vote for each Share held on a poll. Votes are cast by a show of hands unless a poll is demanded. A poll may be demanded by the chairperson or at least five Shareholders entitled to vote on the resolution or Shareholders with at least 5% of the votes that may be cast on the resolution on a poll. Option and Performance Rights holders do not have voting rights. ON‑MARKET SHARE BUY‑BACK There is no current on‑market share buy‑back. NUMBER OF HOLDERS OF EACH CLASS OF SECURITY Equity Security Class Number Ordinary Shares 3,047 Options 15 Performance Rights 31 Total 3,093 SUBSTANTIAL HOLDERS The names of the substantial holders of the Company’s ordinary shares who have notified the Group in accordance with Section 671B of the Corporations Act 2001 are: Holder Shares % Regal Funds Management Pty Ltd and its associates 14,826,544 12.73 Commonwealth Scientific and Industrial Research Organisation 10,810,997 9.28 Australian Super Pty Ltd 7,191,166 6.18 Adrian Knowles and Mary‑Ellen Knowles 7,035,000 6.05 UBS Group AG and its associates 6,655,755 5.71 Yarra Capital Management Limited and its associates 5,931,961 5.09 Shareholder Information 116 Chrysos Corporation
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Shareholder Information CONTINUED 20 LARGEST SHAREHOLDERS The 20 largest holders of ordinary shares, the number of ordinary shares and percentage of capital held by each as follows: Rank Name Number % 1 CITICORP NOMINEES PTY LIMITED 23,520,931 20.19 2 J P MORGAN NOMINEES AUSTRALIA PTY LIMITED 17, 893,224 15.36 3 HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 14,768,623 12.68 4 COMMONWEALTH SCIENTIFIC & INDUSTRIAL RESEARCH 10,810,997 9.28 5 ADRIAN KNOWLES & MARY‑ELLEN KNOWLES 6,285,000 5.39 6 MERRILL LYNCH (AUSTRALIA) NOMINEES PTY LIMITED 5,079,921 4.36 7 HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED – A/C 2 3,516,037 3.02 8 BNP PARIBAS NOMINEES PTY LTD 2,758,231 2.37 9 POPPY FARM PTY LTD 2,340,000 2.01 10 UBS NOMINEES PTY LTD 1,717, 889 1.47 11 MIRRABOOKA INVESTMENTS LIMITED 1,273,000 1.09 12 DDD AND M PTY LTD 1,142,138 0.98 13 MR WILLIAM JAMES BEAMENT 1,120,600 0.96 14 HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 986,518 0.85 15 DIRK TREASURE 784,411 0.67 16 NETWEALTH INVESTMENTS LIMITED 779,102 0.67 17 GANNET HOLDINGS PTY LTD 750,000 0.64 18 ROBERT HENRY RICHARD ADAMSON 739,715 0.63 19 RH ADAMSON PTY LTD 590,000 0.51 20 MR STEPHEN ROBERT WEIR 581,000 0.50 Total 97,437,337 83.63 Annual Report 2026 117
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Shareholder Information CONTINUED DISTRIBUTION SCHEDULE IN EACH CLASS OF EQUITY SECURITIES Ordinary shares Range Securities No. of Holders % 1 to 1,000 678,318 1,592 0.58 1,001 to 5,000 2,492,029 1,024 2.14 5,001 to 10,000 1,369,897 179 1.18 10,001 to 100,000 5,543,036 191 4.76 100,001 and Over 106,428,017 61 91.34 Total 116,511,297 3,047 100.00 Unmarketable Parcels 6,630 136 0.01 Options Range Securities No. of Holders % 1 to 1,000 0 0 0.00 1,001 to 5,000 0 0 0.00 5,001 to 10,000 37,500 4 16.85 10,001 to 100,000 185,000 11 83.15 100,001 and Over 0 0 0.00 Total 222,500 15 100.00 Performance rights Range Securities No. of Holders % 1 to 1,000 0 0 0.00 1,001 to 5,000 6,894 2 0.51 5,001 to 10,000 134,660 18 9.96 10,001 to 100,000 196,333 7 14.53 100,001 and Over 1,013,666 4 75.00 Total 1,351,553 31 100.00 Mr Dirk Treasure has the ability to control 457,673 Performance Rights, which are issued to Mr Treasure or entities he has the ability to control. 118 Chrysos Corporation
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Our Annual General Meeting will be held on 25 November 2026, at 12:30 pm (ACDT) at 2A Venture Road Tonsley, South Australia. Members of our Board and Executive Leadership Team will be available to discuss the Company’s performance, operations and technologies. CORPORATE CALENDAR August 2026 Release of FY26 Full Year Financial Results September 2026 Notice of AGM and director nominations closure date November 2026 FY26 Annual General Meeting December 2026 H1 FY27 Year End February 2027 Release of H1 FY27 Results June 2027 FY27 Full Year End August 2027 Release of FY27 Full Year Financial Results Annual General Meeting Annual Report 2026 119
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DIRECTORS Robert Henry Richard Adamson – Non‑Executive Chair Elisha Joyce Civil – Non‑Executive Director Eric Ford – Non‑Executive Director Kerry Jo‑Anne Gleeson – Non‑Executive Director Gregory Vincent Holt – Non‑Executive Director Dirk Moore Treasure – Managing Director and CEO COMPANY SECRETARY Brett Anthony Coventry cosec@chrysoscorp.com AUDITORS KPMG ABN 51 194 660 183 151 Pirie Street Adelaide SA 5000 Australia REGISTERED OFFICE Chrysos Corporation Ltd ABN 76 613 131 141 Level 5, 19 Gouger Street Adelaide SA 5000 Australia PRINCIPAL PLACE OF BUSINESS 2A Venture Road Tonsley SA 5042 Australia + 61 (8) 7092 7979 INVESTOR RELATIONS Investors@chrysoscorp.com +61 (0) 427 155 728 WEBSITE chrysoscorp.com photonassay.com SHARE REGISTRY MUFG Corporate Markets (A division of MUFG Pension and Market Services) Locked Bag A14 Sydney NSW 1235 Australia +61 1300 554 474 Shareholders with queries should contract the Groups share registry, MUFG Corporate Markets, on the details noted above. SECURITIES EXCHANGE LISTING The Group’s shares are listed on the Australian Securities Exchange (ticker: C79), and were listed from 6 May 2022. BANK INSTITUTIONS Australia and New Zealand Banking Group Limited Citibank National Australia Bank Limited Corporate Directory 120 Chrysos Corporation
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colliercreative.com.au #CHR0046
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Chrysos Corporation combines science and software to create technology solutions for the global mining industry. Chrysos Corporation Ltd | ASX: C79 chrysoscorp.com photonassay.com