Annual report
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Zeotech Limited ABN 29 137 984 297 Annual Report 2026
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Zeotech Limited Annual Report 2026 ASX: ZEO 2 CORPORATE DIRECTORY Directors Sylvia Tulloch (Non-Executive Chair) Peter Zardo (Managing Director) Shane Graham (Executive Director) Robert Downey (Non-Executive Director) Chief Executive Officer James Marsh Company Secretary Neville Bassett Registered Office and Postal Address Level 27, 32 Turbot Street, Brisbane QLD 4000 Telephone: +61 7 3181 5523 Internet W: www.zeotech.com.au E: info@zeotech.com.au Share Registry Automic Pty Ltd Level 5, 191 St Georges Terrace Perth WA 6000 Telephone: 1300 288 664 Email: hello@automicgroup.com.au Web: automicgroup.com.au Auditors In.Corp Audit & Assurance Pty Ltd Level 1, Lincoln House 4 Ventnor Avenue West Perth WA 6005 Telephone: +61 8 9486 7094 Stock Exchange Listing Zeotech Limited securities are listed on the Australian Securities Exchange (ASX code: ZEO)
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Zeotech Limited Annual Report 2026 ASX: ZEO 3 CONTENTS CORPORATE DIRECTORY 2 CHAIR’S LETTER 4 DIRECTORS’ REPORT 5 AUDITOR’S INDEPENDENCE DECLARATION 32 INDEPENDENT AUDITOR’S REPORT 33 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 39 CONSOLIDATED STATEMENT OF FINANCIAL POSITION 40 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 41 CONSOLIDATED STATEMENT OF CASH FLOWS 43 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 44 CONSOLIDATED ENTITY DISCLOSURE STATEMENT 66 DIRECTORS’ DECLARATION 67 ANNUAL MINERAL RESOURCE STATEMENT 68 ASX ADDITIONAL INFORMATION 74 CORPORATE GOVERNANCE STATEMENT 76
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Zeotech Limited Annual Report 2026 ASX: ZEO 4 CHAIR’S LETTER Sylvia Tulloch AM BSc. MSc. The 2026 financial year marked an important period of transition for Zeotech, as the Company progressed from technical and commercial development toward project execution and future operations. Our primary focus was advancing the Toondoon Kaolin Project (“Toondoon”) to mining and Direct Shipping Ore (“DSO”) exports, while continuing to build the commercial pathway for AusPozz™ high-performance metakaolin and validate our methane emissions control technology under real - world conditions. A defining achievement was executing a binding offtake agreement with Jiangsu Mineral Sources International Trading Co., Limited (“MSI”), representing up to A$200 million of Kaolin DSO product sales over an initial 5-year term. The agreement provides strong commercial validation of market demand for Toondoon’s high-purity kaolin and establishes a pathway to near -term revenue generation. The relationship strengthened during the year, including a visit by MSI’s founder to our laboratory, Toondoon, and the Port of Bundaberg. The Company made significant progress toward mining readiness. A large- scale test -pit campaign was completed and provided operational, geological and geotechnical information to support detailed mine planning, while creating inventory for DSO marketing and AusPozz™ production. The Company completed a detailed mine plan, including an interim stage designed to accelerate an initial minimum 10,000-tonne DSO trial shipment. A 105- hole drilling campaign was also completed to increase geological confidence within the existing Mineral Resource, test extensions to mineralisation and support assessment of a potential maiden Ore Reserve. The Company advanced key environmental, regulatory and cultural heritage workstreams required for Toondoon’s development, securing approvals associated with rehabilitation, mine access, fauna management and water -feature declassification, while continuing constructive engagement with the Auburn Hawkwood People Aboriginal Corporation. Subsequent to year-end, the Queensland Departm ent of Transport and Main Roads granted conditional approval for the Mundubbera-Durong Road and Myola Road intersection upgrade. Zeotech also executed a term sheet with Gladstone Ports Corporation for the proposed lease of land at the Port of Bundaberg, supporting potential development of a longer-term receival, storage and export solution for Toondoon DSO kaolin. AusPozz™ made important progress during FY26, transitioning from technical and pilot -scale validation toward commercial- scale production, live co ncrete demonstrations and deeper industry engagement. Zeotech completed its largest commercial- scale concrete trial, comprising approximately 17 truckloads, confirming AusPozz ™ could be incorporated into conventional commercial batching, transport, placement and finishing practices while delivering strong concrete performance. The Company expanded its commercial and technical relationships across the construction, engineering and cement sectors through arrangements with Laing O’Rourke, Cement Australia, Bis ley, icubed Consulting and Holcim Australia. Zeotech also progressed a commercial-scale production trial using approximately 800 tonnes of Toondoon kaolin feedstock, with approximately 80% of expected AusPozz ™ production allocated to a key commercial partner for product validation and commercial development activities. Our Methane Emissions Control Program transitioned from simulated landfill testing to live field validation with Griffith University and North Burnett Regional Council. During the period, zeoteCH ₄® amended cells reduced methane emissions by an average of 92% compared with untreated controls. These early field results support the potential for zeoteCH₄® to provide landfill operators with a practical, passive methane mitigation solution. Zeotech’s financial position was materially strengthened through a $13 million placement, providing funding to advance Toondoon development, resource definition drilling and commercial-scale AusPozz™ activities. The Company ended FY2026 with approximately $8.5 million in cash. As we enter FY2027, our focus is firmly on execution. Priorities include completing remaining Toondoon approvals and infrastructure activities, progressing to commercial DSO kaolin shipments, advancing AusPozz™ customer qualification and commercialisation, and completing the assessment of the live methane field trial. Collectively, these activities are directed toward converting the substantial technical and commercial progress achieved during FY2026 into tangible business outcomes. On behalf of the Board, I thank our employees, partners, regional stakeholders and shareholders for their continued support. The progress achieved has established a stronger and increasingly commercially focused platform for Zeotech as we enter the next phase of development, focused on converting this momentum into sustainable growth and long -term shareholder value. Yours sincerely Sylvia Tulloch Chair
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Zeotech Limited Annual Report 2026 ASX: ZEO 5 DIRECTORS’ REVIEW OF ACTIVITIES Toondoon Kaolin Project The 2026 financial year represented a period of significant advancement for Zeotech Limited (“Zeotech” or “the Company”) as it progressed key commercial, regulatory, technical, and infrastructure workstreams at the Toondoon Kaolin Project (“Toondoon”) required to support the commencement of commercial production of Kaolin Direct Shipping Ore (“DSO”). During the year, the Company advanced binding offtake arrangements, regulatory approvals, mine planning, resource development, access infrastructure, cultural heritage, port logistics and operational readines s. Collectively, these activities materially progressed Toondoon toward initial production and near-term cash generation, while strengthening the long-term feedstock platform that supports commercialisation of AusPozz ™ high-reactivity metakaolin. A defining milestone was the execution of a binding offtake agreement with Jiangsu Mineral Sources International Trading Co., Limited (“MSI”), one of the world’s leading independent bulk raw material trading companies, which based on Year 1 pricing, has an estimated value of up to A$200 million, over an initial 5- year period. MSI secured exclusive offtake and marketing rights for specified kaolin products across China, including Taiwan and Hong Kong, as well as South Korea and Japan. The contracted volumes exceed the Kaolin DSO production assumptions adopted in the AusPozz ™ Project Preliminary Feasibility Study (“PFS”), providing important commercial validation of the scale, quality, and marketability of the Toondoon resource. Figure 1: (from left-to-right) Jason Pascoe – Gladstone Ports Corporation, Formosa Qu – MSI, James Marsh – Zeotech, standing on the dry bulk Multi-Use Conveyor at the Port of Bundaberg During the June quarter, the Company hosted representatives from MSI in Queensland for visits to Zeotech’s laboratory facilities, Toondoon, and the Port of Bundaberg (Figure 1). The visit enabled MSI to inspect representative products, review development activities, and examine the proposed logistics chain from the mine to the port. Following the visit, the parties executed amendments to extend the offtake agreement to 30 April 2027 and enhance certain commercial and operational provisions. The amendments strengthened the parties’ strategic relationship and provided additional time to align initial production, customer qualification, and export arrangements. To support MSI’s marketing and customer qualification activities, approximately 120 tonnes of Kaolin DSO and Cosmetic Kaolin DSO were retriev ed from stockpiles established during the Company’s test -pit programs (Figure 2). Of this material, approximately 20 tonnes of Kaolin DSO and Cosmetic Kaolin DSO combined were containerised for shipment to China, with the balance retained for future MSI marketing programs. This initiative provided product for near -term market development while enabling the Company and MSI to progress customer evaluation ahead of larger -scale DSO shipments. Figure 2: White Kaolin DSO excavated from the test pit Mining Readiness and Test-Pit Program The Company undertook a substantial operational readiness program to validate mining assumptions and inform detailed mine planning. In the December quarter, Zeotech completed a large- scale test -pit campaign across the Grey, Pink, and White kaolin profiles at Toondoon. The seven- day campaign produced more than 2,300 tonnes of representative material and provided operational, geological, and geotechnical data to support mine design, equipment selection, and mining method validation. The team collected detailed engineering observations and geotechnical information to support future slope stability assessments and detailed mine planning.
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Zeotech Limited Annual Report 2026 ASX: ZEO 6 Representative material was also retained for downstream processing, product qualification, and commercial trials. Figure 3: White Kaolin being excavated from the test pit Importantly, the test- pit campaign demonstrated the practical ability to selectively exc avate the Grey, Pink and White Toondoon kaolin profiles (Figure 3), providing greater confidence in the proposed mining methodology and improved understanding of material handling and operating conditions. The program also established an inventory of representative material that was vital for both the DSO marketing prog ram and the scale -up of AusPozz™ production during the second half of the financial year. The Company subsequently completed a detailed mine plan and production schedule to support planning for initial DSO operations. Draft Request for Quotation documentation was also prepared for mining and haulage services, enabling the Company to commence formal engagement with potential contract mining and logistics providers. By the end of the year, proposals had been received covering the mining, transport, and port handling activities required for an initial DSO trial shipment. These proposals will inform the final operating model, contractor selection, and cost assumptions for the commencement of export operations. Regulatory and Environmental Approvals Zeotech made substantial progress across the regulatory and environmental approvals required to commence mining and develop associated access infrastructure. Early in the financial year, the Company advanced access road planning, environmental management plans, cultural heritage assessments, and notifiable road-use requirements. Cultural heritage and ecological surveys were completed across the Mining Lease and pro posed haul -road areas, providing the baseline information required for subsequent approval submissions. During the March quarter, the Queensland Department of Natural Resources and Mines, Manufacturing and Regional and Rural Development approved a variation relating to the proposed mine access road. This provided the project with a pathway for a private access driveway connecting the Mining Lease to the local council and state-controlled road networks leading to the Port of Bundaberg. The Company submitted a High -Risk Fauna Species Management Plan and Protected Plants Clearing Permit application for the proposed private access driveway. Water-feature declassification requests were also lodged under the Water Act 2000 and Fisheries Act 1994, and additional aq uatic ecological surveys were completed following rainfall events. Baseline environmental monitoring continued throughout the period, including dust and surface-water monitoring. By the end of the financial year, several important approvals had been secur ed. The Estimated Rehabilitation Cost (“ERC”) application for the Toondoon mine plan was approved by the Queensland Department of Environment, Tourism, Science and Innovation. The North Burnett Regional Council (“NBRC”) approved the Operational Works Devel opment Application for the proposed private access driveway, and approval was received for the High-Risk Fauna Species Management Program associated with this infrastructure. The Company also secured approval of the relevant water-feature declassification requests. The Protected Plants Clearing Permit remained under active assessment at year -end and, subsequent to year -end, was approved in July 2026. These approvals materially advanced the regulatory pathway for the proposed mine access infrastructure and initial operations. Figure 4: Mundubbera-Durong Road and Myola Road intersection Subsequent to the end of the financial year, the Company received conditional approval from the Queensland Department of Transport and Main Roads
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Zeotech Limited Annual Report 2026 ASX: ZEO 7 (“TMR”) for the proposed upgrade works associated with the intersection of Mundubbera -Durong Road and Myola Road ( Figure 4). The conditional approval is another important milestone in progressing the haulage infrastructure required to support future mining and DSO transport operations at Toondoon. Cultural Heritage The Company continued to engage with the Auburn Hawkwood People Aboriginal Corporation (“AHPAC”) regarding the cultural heritage requirements associated with Toondoon. Cultural heritage surveys were completed over the Mining Lease, access and exploration areas, including additional surveys during February 2026 for proposed drill-hole locations and the private access driveway. Figure 5: Cultural Heritage Awareness Induction Cultural Heritage Awareness inductions were undertaken with the drilling team before the commencement of the 2026 drilling campaign (Figure 5). A draft Cultural Heritage M anagement Agreement (“CHMA”) was received from AHPAC, and the first formal negotiation meeting was held in Townsville in May 2026. Subsequent to year -end, a further negotiation meeting was held in July 2026. The Company’s engagement with AHPAC remained con structive and focused on establishing an appropriate framework for Toondoon's development and ongoing operation. Haul Road, Access and Transport Infrastructure Access and haulage infrastructure remained central to mining readiness during the year. Zeotech executed a compensation agreement with an adjacent landowner to facilitate a start-up mine access haul road, providing an opportunity to fast -track initial mining operations. A Traffic Impact Assessment was completed using the projected DSO transport volum es, and detailed design commenced for the intersection of council -controlled Myola Road and the state -controlled Mundubbera - Durong Road. During the March quarter, Issued for Construction drawings for the intersection upgrade were submitted to Queensland Transport and Main Roads together with the associated notifiable road-use application. Detailed design of the private access driveway and Myola Road upgrade was completed, and road construction documentation was issued to prospective contractors through a private tender process. By year-end, tender packages covering the Myola Road and Mundubbera -Durong Road intersection upgrade, the Myola Road upgrade, and the private access driveway had been completed. A preferred contractor was selected, and the Company co mmenced procurement planning for long -lead civil construction materials and critical roadwork components. These activities were undertaken to reduce supply -chain risk and maintain construction readiness in line with the project schedule. Port of Bundaberg and Export Logistics During FY26, Zeotech materially advanced its port and export strategy through ongoing engagement with Gladstone Ports Corporation (“GPC”) and other stakeholders at the Port of Bundaberg. The Port provides a strategically located export pathway for Toondoon DSO, with established dry -bulk infrastructure and proximity to the project. During the March quarter, the Company progressed discussions to secure long-term bulk storage adjacent to the Port’s Multi -Use Conveyor (“MUC”) and reviewed service arrangements for handling and loading Kaolin DSO. In April 2026, Zeotech executed a non- binding term sheet with GPC for the proposed lease of land at the Port of Bundaberg (Figure 6). The proposed site is intended to support development of a dry -bulk kaolin receival, storage and loading facility adjacent to the MUC infrastructure. The agreement provides a framework for the Company and GPC to progress commercial and technical arrangements for a long-term export solution. Figure 6: Proposed site (in green) for Zeotech’s dry bulk Kaolin DSO receival, storage and loading facility adjacent to the Multi-Use Conveyor (MUC) infrastructure at the Port of Bundaberg.
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Zeotech Limited Annual Report 2026 ASX: ZEO 8 The Company also assessed near-term loading options for initial trial shipments using existing wharf -based arrangements. GPC advised that construction of the permanent Bulk Material Loading Facility had commenced after the required approvals were completed, with completion anticipa ted in November 2026. The permanent facility is expected to provide a fit- for-purpose bulk loading solution aligned with Zeotech’s longer-term export strategy, while existing arrangements retain flexibility for potential trial shipments during the construction period. AusPozz™ Commercialisation Alongside the development of Toondoon DSO operations, Zeotech continued to advance the commercialisation of AusPozz ™, its high -performance, high-reactivity metakaolin product for low -carbon cement and concrete. The year delivered significant progress through independent technical validation, large-scale concrete demonstrations, progression toward commercial- scale production, and deeper engagement with major construction and cement industry participants. Commercial-Scale Concrete Demonstration During the September quarter, Zeotech completed its largest commercial- scale AusPozz ™ concrete demonstration to date ( Figure 7). The demonstration comprised approximately 100 cubic metres of concrete, equivalent to 17 truckloads, and consumed approximately eight tonnes of AusPozz™. The concrete was placed at a recycling yard in Queensland, a high - traffic site adjacent to a weighbridge that experiences more than 250 truck movements each day. Figure 7: AusPozz™ Commercial-Scale Concrete Demonstration Pour The mix was designed to align with the Queensland Department of Transport and Main Roads 40 MPa pavement specification and incorporated AusPozz™ as a 20% replacement of total cementitious content. The demonstration confirmed compatibility with commercial concrete batching, transport, pumping, placement, finishing and curing practices. A three -hour initial set time and positive feedback regarding wo rkability and finish further supported AusPozz™ integration into established concrete production and placement practices. Independent Technical Validation To support market confidence and alignment with industry standards, Zeotech engaged BG&E to undertake an independent peer review of AusPozz ™ concrete trial results. The review considered a comprehensive program conducted over approximately 12 months and included precast, bulk -fill, abrasion - resistant and high-performance concrete applications. BG&E confi rmed consistently strong performance across the trial program. In some mix designs, concrete containing AusPozz ™ achieved strength increases exceeding 130% compared with control mixes. Average drying shrinkage was approximately 30% lower after 56 days, supporting improved dimensional stability and reduced shrinkage -related cracking potential. Plastic properties, including workability, bleed, and air content, were found to be consistent with comparable concrete mixes incorporating other supplementary cementi tious materials. The review also demonstrated the capacity of AusPozz™ to mitigate Alkali- Silica Reaction (“ASR”), with tested materials transitioning from reactive to non-reactive at a 25% cement replacement level. The findings supported the classification of AusPozz ™ under AS 3582.4:2022, Pozzolans – Manufactured, providing further evidence of its suitability as a manufactured pozzolan for use in Australian concrete applications. Figure 8: UCS of a reference mix design using Fly Ash (grey), compared with an AusPozz™ mix design (green) after 7 and 28 days During the June quarter, additional testing focused on slab-on-ground applications, one of the largest -volume segments of the Australian concrete market. AusPozz™ was evaluated as a replacement for fly ash in a representative 240-kilogram total cementitious content mix (Figure 8).
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Zeotech Limited Annual Report 2026 ASX: ZEO 9 The AusPozz™ mix achieved Unconfined Compressive Strength (“UCS”) of 21 MPa after seven days compared with 16 MPa for the reference mix and reached 42 MPa after 28 days compared with 26 MPa for the reference mix. Equivalent workability was maintained across the mixes. Industry Collaboration and Market Development The Company broadened its engagement with major participants across the construction, cement, engineering and distribution sectors during FY26, establishing multiple pathways for field validation, product qualification and potential commercial adoption. Following the commercial-scale demonstration, Zeotech executed a non-binding Memorandum of Understanding (“MOU”) with Laing O’Rourke Australia Construction Pty Limited. The MOU established a framework to explore field trials of AusPozz™ in Laing O’Rourke projects and tenders, working with nominated concrete suppliers to assess product performance in live construction environments. Zeotech also executed a non-binding MOU with Cement Australia Pty Limited, Australia’s largest supplier of cement products and services. The MOU provides a structured pathway for the technical and value assessment of AusPozz ™ and the evaluation of potential infrastructure and end -to-end supply-chain options for future production. It followed site visits to the proposed AusPozz ™ manufacturing location at the Port of Bundaberg, Toondoon and Cement Australia’s Gladstone facilities. A non-binding Letter of Intent was executed with Bisley & Company Pty Limited, a multinational marketer and distributor of industrial raw materials and specialty additives. Under the proposed collaboration , Bisley is contributing market, distribution and logistics expertise, while Zeotech is providing product, technical information and trial support. In January 2026, Zeotech entered a non- binding MOU with icubed Consulting. The agreement provides a trial- led pathway through which icubed will identify suitable infrastructure, renewable energy, building, and environmental projects for live AusPozz™ field trials. The collaboration builds on earlier wind-farm concrete trials that demonstrated improved temperatu re control and workability in large-volume pours. The existing MOU with Holcim Australia was extended to 1 March 2027, enabling parties to continue technical evaluation, concrete trials and commercialisation activities. The extension reflects the ongoing alignment between the companies on the potential us e of AusPozz™ to reduce embodied carbon while improving concrete performance. Commercial-Scale Production Trial After completing further pilot-scale calcination work with a leading Australian technology pr ovider, Zeotech commenced preparations for a commercial -scale AusPozz™ production trial. The pilot program generated additional information regarding material behaviour, conversion efficiency and product reactivity to support scale-up and future process design. Approximately 800 tonnes of representative Toondoon kaolin feedstock were prepared and dispatched for the commercial-scale production program ( Figure 9). The feedstock was sourced primarily from the December 2025 test pit, providing commercially representative material for downstream processing, product validation and customer qualification. Approximately 80% of the AusPozz™ expected to be produced from the program was allocated to a key commercial development partner, with the remaining material being assessed for use in additional concrete trials. Figure 9: Toondoon Kaolin being dispatched for a Commercial Production Trial The scale of this program represents an important progression from pilot manufacture toward a repeatable commercial supply pathway. It will provide larger product quantities for advanced customer validation, infrastructure trials and application -specific mix development while generating process information relevant to the proposed future AusPozz ™ manufacturing operation. The Company also progressed concrete testing associated with major infrastructure developments in Victoria. These programs evaluated strength development, durability and carbon-reduction outcomes in large-scale civil construction applications and support the Company’s objective of establishing AusPozz™ as a scalable, high-performance supplementary cementitious material for major projects.
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Zeotech Limited Annual Report 2026 ASX: ZEO 10 Methane Emissions Control Program Zeotech’s Methane Emissions Control Program made significant progress during the year, moving from simulated landfill trials to on -site validation under real - world operating conditions. The program is being conducted with Griffith University (“Griffith”) a nd uses Zeotech’s proprietary zeoteCH ₄® material to enhance methane oxidation in landfill-cover soils (Figure 10). Figure 10: Conceptual model for zeoteCH4® application to landfills During the September quarter, the Expressions of Interest campaign supported by the NSW Environment Protection Authority was completed. Two responses were received from landfill operators interested in participating in live trials, and potential sites were evaluated by Zeotech and Griffith. Following the assessment of prospective Queensland landfill sites, a preferred location was selected at a NBRC landfill near Toondoon. A research agreement was executed with Griffith, providing for a seven -month program comprising zeoteCH ₄® preparation, baseline methane measurement, technology deployment and ongoing performance monitoring. Figure 11: Map showing the location and layout of the field trials at the Mundubbera Waste Management Facility The live trial commenced in February 2026 and deployed the highest -performing zeoteCH ₄® biofilter identified during the earlier simulated -landfill program (Figure 11). That material had previously demonstrated methane-emission reductions exceeding 90% under controlled conditions. The field trial was designed to evaluate performance over approximately six months and collect more than 800 data points across changing environmental and operating conditions. The initial field-monitoring period, from 18 March to 30 April 2026, delivered highly encouraging results. Methane emissions from zeoteCH ₄® amended cells were, on average, 92% lower than emissions from untreated control cells. Analysis of methane -to-carbon- dioxide ratios also indicated apparent methane oxidation efficiency of approximately 90%, supporting the conclusion that the material contributed to methane elimination within the landfill-cover profile (Figure 12). Figure 12: Methane Emission Fluxes in ZeoteCH₄ cells compared to Control (no treatment) cells The trial experienced significant rainfall during the early monitoring period. Remediation measures were implemented, after which stable performance continued. This provided initial evidence of the biofilter’s resilience under operational conditions and represented an important step in assessing the technology’s durability and practical application at working landfill sites. Monitoring has continued beyond the end of the financial year to assess performance across a broader range of seasonal and environmental conditions. The results are expected to help define the longer -term consistency, scalability and operating requirements of zeoteCH₄®. The Company considers the early field results to be a significant milestone in establishing the commercial potential of a passive, potentially cost-effective methane mitigation solution for landfill operators.
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Zeotech Limited Annual Report 2026 ASX: ZEO 11 Manufactured Zeolite Technology and Intellectual Property Zeotech’s laboratory and pilot-scale activities continued to support the manufacture of proprietary zeolite materials for the methane control program. The Company also strengthened its international intellectual property portfolio during the year. South Korean Patent No. 10- 2849641 was granted for Zeotech’s proprietary technology to produce impurity - free synthetic zeolite from aluminosilicate feedstocks, including kaolin and process by-products. This followed the earlier grant of Japanese Patent No. 7571058 for the same technology. During the December quarter, the Australian Patent Office accepted the corresponding Austra lian patent application, and the patent was subsequently granted during the March quarter. The Australian, Japanese and South Korean protections provide the Company with intellectual property coverage in several strategically important Asia-Pacific markets and may support future manufacturing, licensing and commercial partnership opportunities. MINING TENEMENTS Toondoon Project – Australia The Toondoon Project (“Toondoon”) is located in central Queensland, approximately 20km from Mundubbera, and hosts a n ultra-purity kaolin resource characterised by >90% kaolinite in the raw ore. Toondoon is considered one of the highest -grade known raw ore kaolin deposits in Australia held under an approved Mining Lease. Toondoon is well served by existing infrastructure, including two major ports and access to major arterial highways. The tenements comprise an approved Mining Lease (ML 80126) together with Exploration Permits for Minerals (EPM 27866 and EPM 27395). Resource Development and Drilling During the June quarter, Zeotech completed an extensive drilling campaign at Toondoon comprising 105 holes for approximately 3,100 metres. The three -week program included infill drilling within Toondoon’s approved Mining Lease, ML 80126, and step -out exploration across adjacent E xploration Permits for Minerals, EPM 27866 and EPM 27395. The program was designed to increase geological confidence within the existing Mineral Resource, test potential extensions to mineralisation and support assessment of a potential maiden Ore Reserve. This information is expected to provide a stronger technical foundation for mine planning and assess opportunities to potentially extend production beyond the assumed project life in the PFS. The drilling program represents an important step in advancing Toondoon from a development-stage mineral resource toward an operating mine. The drilling results are expected to support further resource evaluation, detailed mine planning, production sequenc ing and assessment of the potential to establish a maiden Ore Reserve. Abercorn Project - Australia The Abercorn Project is located in central Queensland and hosts a significant kaolin resource characterised by scale and consistent grade. The project forms part of Zeotech’s long -term strategy for resource evaluation and development. The Abercorn Project comprises four contiguous EPM’s for a total of 50 sub-blocks, these are: • EPM 26837 comprising 33 sub-blocks; • EPM 26903 comprising 4 sub-blocks; • EPM 19081 comprising 1 sub-block; and • EPM 27427 comprising 12 sub-blocks. Resource test work at the Abercorn Project has delivered an indicated and Inferred JORC 2012 resource of: 39.06Mt yielding 36.8% - 20µm grading 28.6% Al 2O3 & 1.18% K2O, using a cut-off grade of 26% Al2O3 No groundwork was undertaken during the year. CORPORATE Capital Raising In September 2025, Zeotech completed a $13 million placement to institutional, professional and sophisticated investors. The funds were raised to accelerate development of Toondoon, including initial capital expenditure associated with mining readiness, advance the AusPozz ™ Project, and undertake the expanded drilling program designed to support resource development and a potential maiden Ore Reserve. The capital raising materially strengthened the Company’s balance sheet and provided funding to advance key work programs, including regulatory approvals, mine and infrastructure engineering, resource definition drilling and commercial- scale AusPozz™ trial and production activities. The Company is not aware of any new information or data that materially affects the information included in the referenced ASX announcements and confirms that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.
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Zeotech Limited Annual Report 2026 ASX: ZEO 12 Research & Development During the December quarter, the Company received a $960,762 research and development tax incentive refund relating to eligible expenditure incurred during the financial year ended 30 June 2025. The expenditure related to the development of high-reactivity metakaolin, manufactured zeolite production and methane - emissions-control technology. The $1 million secured research and development loan arranged in March 2025 was repaid during the period. Personnel Changes Zeotech strengthened its operating and project delivery capability through the appointment of Anthony Spittle as Project Director, Operations. Mr Spittle brings more than 40 years of experience across concrete, quarrying, logistics, major infrastructure and greenfield quarry development, including senior roles with Boral a nd Holcim. His appointment increased the Company’s internal capability as Toondoon progresses toward initial DSO operations, and AusPozz ™ advances through commercial-scale production and market development. MATERIAL BUSINESS RISKS Development and commercialisation of the Company’s technology The success of the Company will depend upon the Company’s ability to further develop and commercialise its mining assets, technology, and intellectual property. A failure to successfully develop and commercialise these could lead to a loss of opportunities and adversely impact the Company’s operating results and financial position. Exploration and development The Company’s mining tenements are at various stages of exploration, and potential investors should understand that mineral exploration and development are high -risk undertakings. There can be no assurance that future exploration of these tenements, or any other mineral tenements that may be acquired in the future, will result in the discovery of an economic resource. Even where an apparen tly viable resource is identified, there is no guarantee that it can be economically exploited. Staffing and reliance on key management The Company relies on the experience and knowledge of key members of its staff. In the event that key personnel leave and the Company is unable to recruit suitable replacements, such loss could have a materially adverse effect on the Company. Intellectual property The success of the Company, in part, depends on its continued ability to protect its intellectual property and use any trademarks to increase brand awareness. The Company will depend on its intellectual property to protect its brand, trade secrets, and any pending patents on its products and production processes. In the event the Company is unable to protect its intellectual property adequately, the value of the Company’s products and brands could be adversely affected. This may further impact the overall business with respect to its financial position, overall profitability, and operational output. Capital and funding requirements Given its focus on commercialising its mining assets and proprietary mineral processing technology, the Company has negative operating cash flow and, at present, it does not generate any material revenue. No assurance can be given that the Company will achieve commercial viability through its mining assets, existing technology, or otherwise. Until the Company can realise the full value of its mining assets or technology, it is likely to incur ongoing operating losses. Geopolitical risk The Company’s activities may be affected by geopolitical events, trade disruptions and volatility in global energy markets. In particular, increases in fuel prices may result in higher mining, construction, haulage and shipping costs, w hile supply chain disruptions may affect the availability and cost of equipment, materials and contractor services. These factors may delay project development, increase operating and capital costs, and adversely affect the Company’s financial performance and ability to commercialise its mining assets and technology.
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Zeotech Limited Annual Report 2026 ASX: ZEO 13 Directors’ Report Your directors submit their report on the consolidated entity (referred to hereafter as the Group) consisting of Zeotech Limited (the Company), and the entities it controlled at the end of, or during, the year ended 30 June 2026. DIRECTORS The names and details of the Company's directors in office during the period and until the date of this report are as follows. Directors were in office for this entire period unless otherwise stated. Names, qualifications, experience, and special responsibilities Sylvia Tulloch AM BSc, MSc (Non-Executive Chair) Sylvia is a materials scientist with extensive experience in establishing and managing high-technology businesses, with a strong focus on commercialisation, mineral processing technologies, and the cleantech sector. She holds a Bachelor of Science and a Master’s in Materials Science from the University of New South Wales and has founded two companies that successfully listed on the ASX. Sylvia has also served in government advisory roles across the start -up, renewable energy, and manufacturing sectors. She is an active investor and director in multiple start -ups, serves as Chairman of Griffin Accelerator Holdings—ACT’s only start-up business accelerator. Ms Tulloch is currently a non-executive director of Parkway Corporate Limited. Peter Zardo MAICD (Managing Director) Peter joined Zeotech as Chief Operating Officer in April 2020 and was appointed Managing Director in July 2020, following more than 16 years in the corporate and business banking division of the Westpac Group. He previously served as Director of Industry B anking and completed Westpac’s Emerging Leader Program in 2019, building on earlier experience in financial and equity markets. Peter has undertaken studies in Applied Science at Charles Sturt University and Circular Economy & Sustainability at Cambridge Judge Business School. A member of the Australian Institute of Company Directors, he brings extensive expertise in business advisory, project management, and corporate finance, supported by a broad network of industry relationships that he leverages in his leadership role. Shane Graham MBA (Executive Director) Mr Graham is a high-performing business leader with over 30 years of extensive experience in the building materials sector. This includes executive management roles with two of Australia’s leading building materials companies, including 5 years at Holcim (Australia) Pty Ltd and over 20 years at Boral Limited. During his time at Holcim Australia, he held the positions of Executive General Manager – Commercial and Major Projects – in this role, he was responsible for securing Major Infrastructure project opportunities and Executive General Manager of Humes Australia. Prior to joining Holcim, he held various Executive General Management roles at Boral, including Executive General Manager – Queensland with National oversight of Boral Concrete, before progressing to the position of Executive General Manager – Major Projects and Project Management Office. Shane holds a Master of Business Administration (MBA) from the Queensland University of Technology, Australia. Mr Graham became Executive Director on 7 April 2025.
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Zeotech Limited Annual Report 2026 ASX: ZEO 14 Robert Downey B.Ed., LL.B (Hons) (Non-Executive Director) Mr Downey is a qualified solicitor who has practised mainly in the areas of international resources law, corporate law and initial public offerings as well as mergers and acquisitions. He has extensive experience as an adviser, founder and director of various ASX, TSX and AIM companies. Mr Downey is currently a partner at Dominion Legal, a boutique law firm in Perth. Mr Downey became Non-Executive Chairman on 18 October 2016, resigned as Chairman on 7 April 2020 but assumed the role of Non-Executive Director. Mr Downey is currently a director of Connexion Mobility Ltd, Reach Resources Ltd, Askari Metals Ltd, Mt Malcolm Mines NL and Everest Metals Corporation Ltd. COMPANY SECRETARY Mr Bassett was appointed Company Secretary on 7 May 2015. Mr Bassett is a chartered accountant operating his own corporate consulting business, specialising in the area of corporate, financial and management advisory services. Mr Bassett has been involved with numerous public company listings and cap ital raisings. His involvement in the corporate arena has also taken in mergers and acquisitions and includes significant knowledge and exposure to the Australian financial markets. Mr Bassett has experience in matters pertaining to the Corporations Act, ASX listing requirements, corporate taxation, and finance. INTERESTS IN THE SHARES AND OPTIONS OF THE COMPANY AND RELATED BODIES CORPORATE The following relevant interests in shares of the Company or a related body corporate were held by directors at the date of this report: Ordinary Shares Options Performance Rights Directors Sylvia Tulloch 11,550,000 - - Peter Zardo 73,808,088 - 10,000,000 Robert Downey 5,250,000 - - Shane Graham 2,840,000 20,000,000 30,000,000 Since 1 July 2025, the Company has granted no shares, 20,000,000 share options and 40,000,000 performance rights to Directors, following receipt of the required shareholder approvals.
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Zeotech Limited Annual Report 2026 ASX: ZEO 15 PRINCIPAL ACTIVITIES The principal activities of the Group during the period were: • the exploration and evaluation of the Group’s mineral tenements, including activities to further define and develop its high-grade kaolin resources; • advancing the development and commercialisation of the Toondoon Kaolin Project, including direct shipping ore (DSO) opportunities and the development of AusPozz™ high-reactivity metakaolin production in Queensland, Australia, as a high-performance, low-carbon supplementary cementitious material (SCM) for the construction sector; • advancing the commercialisation of AusPozz ™, including technical validation, industry collaboration and real-world concrete trials, while progressing feasibility studies and evaluating potential manufacturing, supply chain and market pathways; • collaborating with research, industry and government partners to develop and validate (Horizon 2) zeolite- based greenhouse gas mitigation technologies, including the Group’s zeoteCH₄® technology for reducing fugitive methane emissions from landfill; and • identifying and evaluating synergistic new ventures, strategic pa rtnerships and corporate opportunities aligned with the Group’s resources, technologies and commercial objectives. DIVIDENDS No dividends were paid or declared during the period. No recommendation for payment of dividends has been made.
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Zeotech Limited Annual Report 2026 ASX: ZEO 16 OPERATING AND FINANCIAL REVIEW Finance Review The Group commenced the financial year with cash assets of $2,349,028. During the period, total exploration expenditure expensed by the Group amounted to $2,255,691 (2025: $874,278). Net administration expenditure incurred am ounted to $912,336 (2025: $635,904), technology expenses incurred amounted to $1,576,661 (2025: $860,308) and expense for share based payments amounted to $1,782,620 (2025: $498,269). This has resulted in an operating loss after income tax for the year ended 30 June 2026 of $8,146,635 (2025: $4,407,157). At 30 June 2026, cash assets available totalled $8,498,081. Operating Results for the Period Summarised operating results are as follows: 2026 Revenues $ Results $ Revenues and loss from ordinary activities before income tax expense 1,371,150 (8,146,635) Shareholder Returns 2026 2025 Basic loss per share (cents) (0.405) (0.240) Risk Management The Board is responsible for ensuring that risks, and also opportunities, are identified on a timely basis and that activities are aligned with the risks and opportunities identified by the Board. The Group believes that it is crucial for all Board members to be a part of this process, and as such the Board has not established a separate risk management committee. The Board has a number of mechanisms in place to ensure that management's objectives and activities are aligned with the risks identified by the Board. These include the following: Board approval of a strategic plan, which encompasses strategy statements designed to meet stakeholders’ needs and manage business risk. Implementation of Board approved operating plans and budgets and Board monitoring of progress against these budgets. SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS Other than as disclosed in this Annual Report, no significant changes in the state of affairs of the Group occurred during the financial year other than that referred to in the financial statements or notes thereto in the Review of Activities.
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Zeotech Limited Annual Report 2026 ASX: ZEO 17 SIGNIFICANT EVENTS AFTER THE BALANCE DATE No matters or circumstances have arisen since the end of the year which significantly affected or may significantly affect the operations of the Group, the results of those operations, or the state of affairs of the Group in future financial years other than as referred to in the Review of Activities and as detailed below. (i) On 6 July 2026, the Company provided an update on progress at the Toondoon Kaolin Project, including an extension to the offtake agreement with Jiangsu Mineral Sources International Trading Co., Limited, completion of a significant exploration campaign, contractor selection for key road and access works, advancement of port lease negotiations and receipt of proposals for an initial Kaolin DSO trial shipment. (ii) On 13 July 2026, the Com pany announced the results of independent test work undertaken by Sustainable Future by Design, which confirmed the technical performance and potential cost benefits of AusPozz™ in underground cemented paste backfill applications. (iii) On 13 August 2026, the Company entered into a non-binding Memorandum of Understanding with VINCI Construction Service Partagé. The parties will collaborate on concrete trials and demonstrations using AusPozz ™, exchange technical information and test results, and assess potential future commercial opportunities. (iv) On 25 August 2026, the Company announced the successful completion of its six -month landfill methane control field trial conducted with Griffith University at the North Burnett Regional Council Waste Management Facility. The final report confirmed that zeoteCH ₄®-amended cells recorded average methane emissions 92% lower than untreated control cells under real-world landfill conditions.
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Zeotech Limited Annual Report 2026 ASX: ZEO 18 LIKELY DEVELOPMENTS AND EXPECTED RESULTS The Company’s objective is to commercialise its high -grade kaolin resources and pro prietary mineral processing technologies through the development of sustainable, high- value products and applications, including direct shipping ore (DSO) kaolin, AusPozz ™ high-reactivity metakaolin and zeolite -based technologies for methane emissions mitigation. Zeotech is progressing the development of its Toondoon Kaolin Project in Queensland, including the approvals, infrastructure and operational readiness required to support commencement of mining and its significant DSO kaolin offtake arrangements. The Compa ny’s strategy is focused on establishing DSO kaolin as a near -term revenue opportunity while preserving the strategic value of the Toondoon resource as a long-term feedstock for higher-value downstream products. In parallel, the Company continues to advance the commercialisation of AusPozz™, a high-performance, low-carbon supplementary cementitious material. Following extensive technical validation and successful industry trials, Zeotech is progressing commercial -scale manufacturing, supply chain and market pathways with industry participants. These activities are intended to position AusPozz ™ as a scalable domestic source of high -reactivity metakaolin capable of supporting the construction sector’s transition toward lower embodied carbon materials. The Company is also advancing its proprietary zeolite mineral processing technologies through its in -house research and development capabilities. This includes the continued development and optimisation of novel zeolite synthesis processes using kaolin and suitable process by-products, while protecting the Company’s intellectual property through patent protection and trade-secret protocols. In addition, Zeotech is progressing the development and commercialisation of zeoteCH ₄®, its zeolite -based technology targeting fugitive methane emissions from landfill. Following successful field validation, the Company intends to pursue further industry engagement, extended monitoring and potential larger -scale applications to support optimisation of the technology and its progression toward commercial deployment. The combination of potential near-term DSO kaolin revenues, advancement of AusPozz™ toward commercial-scale production and development of higher-value zeolite technologies provides Zeotech with an integrated and scalable commercialisation strategy. The Company will continue to evaluate strategic partnerships, funding opportunities and commercial structures that can accelerate development while maintaining disciplined capital allocation and seeking to build long-term shareholder value. ENVIRONMENTAL REGULATION AND PERFORMANCE The Group is subject to significant environmental regulation in respect of its exploration activities in Australia. The Group aims to ensure it maintains an appropriate standard of environmental care and, in doing so, remains aware of and compliant with all environmental legislation. The Group's directors are not aware of any breach of environmental legislation for the period under review.
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Zeotech Limited Annual Report 2026 ASX: ZEO 19 REMUNERATION REPORT (AUDITED) The information provided in this remuneration report has been audited as required by section 308(3C) of the Corporations Act 2001. Principles used to determine the nature and amount of remuneration Remuneration Policy The remuneration policy of Zeotech Limited has been desig ned to align director and executive objectives with shareholder and business objectives by providing a fixed remuneration component and offering specific short-term and long-term incentives. The Board of Zeotech Limited believes the remuneration policy to be appropriate and effective in its ability to attract and retain the best executives and directors to run and manage the Group. The remuneration policy, setting the terms and conditions for the executive directors and other senior executives, was developed by the Board. All executives receive a base salary (which is based on factors such as length of service and experience) and superannuation. The Board reviews executive packages annually by reference to the Group’s performance, executive performance, and comparable information from industry sectors and other listed companies in similar industries. The Board may exercise discretion in relation to approving incentives, bonuses, and options. The policy is designed to attract the highest calibre of executives and reward them for performance that results in long -term growth in shareholder wealth. Executives are also entitled to participate in the employee share and option arrangements. The executive directors and executives receive a superannuation guarantee contribution required by the government, which is currently 12.0% (2026: 12.0%), and do not receive any other retirement benefits. All remuneration paid to directors and executives is valued at the cost to the Group and expensed. Options are valued using the Black-Scholes methodology. The Board policy is to remunerate non-executive directors at market rates for comparable companies for time, commitment, and responsibilities. The Board determines payments to the non-executive directors and reviews their remuneration annually, based on market practice, duties and accountability. Independent external advice is sought when required. The maximum aggregate amount of fees that can be paid to non-executive directors is subject to approval by shareholders at the Annual General Meeting (currently $300,000). Base fees for non-executive directors are not linked to the performance of the Group. However, to align directors’ interests with shareholder interests, the directors are encouraged to hold shares in the Company and are able to participate in the employee incentive plan. Performance based remuneration During the year, the Group did not issue incentive options or performance rights to directors or other key management personnel other than: • 30,000,000 performance rights and 20,000,000 options issued to Mr Shane Graham upon appointment as Director; • 10,000,000 performance rights issued to Mr Peter Zardo; • 1,000,000 shares and 5,000,000 performance rights issued to Mr James Marsh; • 1,000,000 shares issued to Mr Scott Burkhart; and • 1,000,000 shares and 9,000,000 performance rights issued to Mr Tim Anderson
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Zeotech Limited Annual Report 2026 ASX: ZEO 20 Use of remuneration consultants The Group did not employ the services of any remuneration consultants during the financial year ended 30 June 2026. Voting and comments made at the Company’s 2025 Annual General Meeting The Company received approximately 89.8% of “yes” votes on its remuneration report for the 2025 financial year. The Company did not receive any specific feedback at the AGM or throughout the year on its remuneration practices. Details of remuneration Details of the remuneration of the directors and the key management personnel of the Group are set out in the following table. The key management personnel of the Group comprise the directors, chief executive officer, chief operating officer, chief commercial officer / general manager and chief development officer (where appointed) who have authority and responsibility for planning, directing and controlling activities within the Group. Given the size and nature of operations of the Group, there are no other employees who are required to have their remuneration disclosed in accordance with the Corporations Act 2001.
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Zeotech Limited Annual Report 2026 ASX: ZEO 21 Key management personnel of the Group Short-Term Post-Employment Share-based Payments Total Salary & Fees Non-Monetary Superannuation Retirement benefits $ $ $ $ $ $ Directors Sylvia Tulloch 2026 109,454 - - - - 109,454 2025 90,909 - - - - 90,909 Peter Zardo 2026 (1) 310,854 150,000 37,303 - 90,820 588,977 2025 311,320 150,000 35,858 - - 497,178 Robert Downey 2026 67,000 - - - - 67,000 2025 60,000 - - - - 60,000 Shane Graham - Appointed 7 April 2025 2026 166,900 - - - 889,012 1,055,912 2025 30,000 - - - 228,988 258,988 Other key management personnel James Marsh – CEO Appointed 9 September 2024 2026 310,333 - 37,240 - 220,551 568,124 2025 244,048 - 28,190 - 84,146 356,384 Scott Burkhart – CEO Appointed 1 November 2023, Chief Operating Officer Appointed 9 September 2024 2026 279,167 - 33,500 - 154,793 467,460 2025 275,000 - 31,740 - 159,053 465,793 Tim Anderson – Chief Commercial Officer / General Manager Appointed 18 November 2024 2026 254,583 - 30,550 - 108,881 394,014 2025 139,563 - 16,150 - 17,122 172,835 Alister Morrison – Chief Development Officer Employment Ceased 21 November 2024 2026 - - - - - - 2025 73,285 - 8,428 - - 81,713 Total Key Management Personnel Remuneration 2026 1,498,291 150,000 138,593 - 1,464,057 3,250,941 2025 1,224,125 150,000 120,366 - 489,309 1,983,800 (1) During the financial year, the Directors resolved to pay Mr Peter Zardo a $150,000 STI bonus. Mr Peter Zardo used the bonus to pay off the $150,000 remaining balance of the loan relating to his 20,000,000 Plan Shares received in December 2020. A total of 3,000,000 shares were issued under the Company’s ESIP to the below Key Management Personnel • 1,000,000 shares issued to Mr James Marsh valued at $68,000 • 1,000,000 shares issued to Mr Tim Anderson valued at $68,000 • 1,000,000 shares issued to Mr Scott Burkhart valued at $70,000 As part of Mr Shane Graham’s executive service agreement, 20,000,000 options exercisable at $0.10 and expiring 7 April 2028 were issued to Mr Shane Graham, following Shareholder approval, during the financial year. The fair value per option issued to Mr Shane Graham is 3.90 cents each (calculated using the Black Scholes method – share price of $0.08, risk-free interest rate of 3.32% and volatility of 80%), the total value to be recognised over the 12- month vesting period is $618,000, with $470,712 being recognised during the financial year.
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Zeotech Limited Annual Report 2026 ASX: ZEO 22 The value recognised as share-based payments expense and fair value of performance rights that were granted or already on issue during the financial year to key management personnel are determined using the following inputs. Holder Performance Rights Quantity Grant Date Issue Date Share Price on Grant Date Probability of Vesting Fair Value Estimate at Grant Date Value Recognised During the Year Peter Zardo Milestone 5# 2,500,000 4/12/2025 23/12/2025 $0.082 50% $102,500 $22,705 Peter Zardo Milestone 4# 2,500,000 4/12/2025 23/12/2025 $0.082 50% $102,500 $22,705 Peter Zardo Milestone 3# 2,500,000 4/12/2025 23/12/2025 $0.082 50% $102,500 $22,705 Peter Zardo Milestone 2# 2,500,000 4/12/2025 23/12/2025 $0.082 50% $102,500 $22,705 Tim Anderson Milestone 1# 1,500,000 10/7/2025 19/8/2025 $0.07 50% $52,500 $12,352 James Marsh Milestone 1# 5,000,000 6/7/2025 19/8/2025 $0.068 50% $170,000 $40,000 Shane Graham Class A* 7,500,000 8/12/2025 23/12/2025 $0.08 50% $300,000 $104,575 Shane Graham Class B* 7,500,000 8/12/2025 23/12/2025 $0.08 50% $300,000 $104,575 Shane Graham Class C* 7,500,000 8/12/2025 23/12/2025 $0.08 50% $300,000 $104,575 Shane Graham Class D* 7,500,000 8/12/2025l 23/12/2025 $0.08 50% $300,000 $104,575 Tim Anderson Class A* 1,500,000 22/10/2024 19/8/2025 $0.03 75% $33,750 $6,750 Tim Anderson Class B* 1,500,000 22/10/2024 19/8/2025 $0.03 50% $22,500 $4,500 Tim Anderson Class C* 1,500,000 22/10/2024 19/8/2025 $0.03 50% $22,500 $4,500 Tim Anderson Class D* 1,500,000 22/10/2024 19/8/2025 $0.03 75% $33,750 $8,279 Tim Anderson Class E* 1,500,000 22/10/2024 19/8/2025 $0.03 50% $22,500 $4,500 Scott Burkhart Class B - completion of fulltime employment as of 31 October 2025 2,000,000 30/10/2024 31/10/2024 $0.037 100% $74,000 $24,667 Scott Burkhart Class C - completion of fulltime employment as of 31 October 2026 2,000,000 30/10/2024 31/10/2024 $0.037 75% $55,500 $27,750 Scott Burkhart Class D - completion of fulltime employment as of 31 October 2027 2,000,000 30/10/2024 31/10/2024 $0.037 75% $55,500 $18,500 Scott Burkhart Class E - completion of fulltime employment as of 31 October 2028 2,000,000 30/10/2024 31/10/2024 $0.037 75% $55,500 $13,876 James Marsh Class A* 5,000,000 16/8/2024 1/11/2024 $0.035 75% $131,250 $26,250 James Marsh Class B* 5,000,000 16/8/2024 1/11/2024 $0.035 50% $87,500 $17,500 James Marsh Class C* 5,000,000 16/8/2024 1/11/2024 $0.035 50% $87,500 $17,500 James Marsh Class D* 5,000,000 16/8/2024 1/11/2024 $0.035 75% $131,250 $33,801 James Marsh Class E* 5,000,000 16/8/2024 1/11/2024 $0.035 50% $87,500 $17,500 *Refer to Service Agreements for vesting conditions #Refer Milestones below for vesting conditions Milestone 1 Upon execution and completion of a bi nding joint venture and/or profit-sharing agreement for commercial AusPozz (Metakaolin) production utilising Toondoon kaolin feedstock. Milestone 2 Upon execution and completion of a binding off take agreement(s) totalling 100,000 tonnes per annum of AusPozzTM (metakaolin). Milestone 3 Upon execution and completion of a binding off take agreement(s) totalling 200,000 tonnes per annum of AusPozz ™ (metakaolin). Milestone 4 Upon execution and completion of a binding off take agreement(s) totalling 300,000 t onnes per annum of AusPozz™ (metakaolin). Milestone 5 Upon execution and completion of a binding joint venture and/or profit -sharing agreement for commercial AusPozz ™ (metakaolin) production utilising Toondoon kaolin feedstock. Under the terms of the joint venture and/or profit -sharing agreement, production volumes can trigger the achievement of Class A, Class B and Class C vesting conditions based upon: i. 100,000 to 199,999 tonnes per annum – Class A; ii. 200,000 to 299,999 tonnes per annum – Class A and Class B; iii. 300,000+ tonnes per annum – Class A, Class B and Class C.
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Zeotech Limited Annual Report 2026 ASX: ZEO 23 Service agreements Peter Zardo In April 2020, the Company entered into an Executive Service Agreement with Mr Peter Zardo. Under the Agreement, Mr. Zardo was initially engaged by the Company to provide services in the capacity of COO, and this role was amended to Managing Director in July 2020. The material terms of the executive service agreement with Mr Zardo, as at 30 June 2026 and as of the date of this report, are as follows: 1. $311,320 per annum base salary (plus statutory superannuation) – following review and approval by the Board in May 2024. 2. The agreement was initially for a fixed term of 2 years, and now continues for no fixed term, although; a. May be terminated by the Company with 6 months’ notice under specified terms and subject to a termination benefit equal to the balance of the term b. May be terminated by the Company with immediate effect in the event of serious or wilful misconduct. 3. Following a Board review in June 2026, the Board approved an increase in base salary (plus statutory superannuation) to $341,320 per annum, effective 1 July 2026.
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Zeotech Limited Annual Report 2026 ASX: ZEO 24 Service agreements (continued) Shane Graham In March 2025, the Company entered into an Executive Service Agreement with Mr Shane Graham, effective 7 April 2025. Under the Agreement, Mr Graham is engaged by the Company to provide services to the Company in the capacity of Executive Director (Technical). The material terms of the executive service agreement with Mr Graham are as follows: 1. $10,000 per month plus GST. 2. Following an executive remuneration review in November 2025, an increase in the executive service agreement to $16,700 per month plus GST was approved, effective 1 December 2025; 3. Rights to the following service securities: a. 20,000,000 unlisted sign-on options with an exercise price of $0.10 and an expiry date of three years from the Commencement date. The options will not vest until the 12-month anniversary of the Commencement Date. 4. Rights to the following performance incentive securities: Four tranches of performance rights (Class A, B, C, and D) of 7,500,000 performance rights each, with each tranche having the following performance milestone: a. Class A – Upon execution and completion of a binding off -take agreement(s) totalling 100,000 tonnes per annum of AusPozz (metakaolin); b. Class B – Upon execution and completion of a binding off -take agreement(s) totalling 200,000 tonnes per annum of AusPozz (metakaolin); c. Class C – Upon execution and completion of a binding off -take agreement(s) to talling 300,000 tonnes per annum of AusPozz (metakaolin); and d. Class D – Upon execution and completion of a binding joint venture and/or profit-sharing agreement for commercial AusPozz (metakaolin) production utilising Toondoon kaolin feedstock. Under the terms of the joint venture and/or profit -sharing agreement, production volumes can trigger the achievement of Class A, Class B and Class C vesting conditions based upon: a. 100,000 to 199,999 tonnes per annum – Class A; b. 200,000 to 299,999 tonnes per annum – Class A and Class B; c. 300,00+ tonnes per annum – Class A, Class B and Class C. All Performance Rights will lapse on the earliest to occur of: a. Subject to any automatic vesting in accordance with other terms, if the Vesting Condition has not been met; b. If the Agreement is terminated; or c. On 5:00PM AEST on the three-year anniversary of the Agreement. 5. The agreement is for no fixed term, although; a. May be terminated by either party by providing a six-month written notice b. May be terminated by the Company with immedia te effect in the event of serious or wilful misconduct.
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Zeotech Limited Annual Report 2026 ASX: ZEO 25 Service agreements (continued) James Marsh In August 2024, the Company entered into an Executive Service Agreement with Mr James Marsh, effective 9 September 2024. Under the Agreement, Mr Marsh is engaged by the Company to provide services to the Company in the capacity of Chief Executive Officer (CEO). The material terms of the executive service agreement with Mr Marsh are as follows: 1. $300,000 per annum base salary (plus statutory superannuation) on a full-time basis. 2. Following an executive remuneration review in April 2026, an increase in base salary (plus statutory superannuation) to $362,000 per annum was implemented, effective 1 June 2026 3. Rights to the following performance incentive securities: Five tranches of performance rights (Class A, B, C, D, and E) of 5,000,000 performance rights each, with each tranche having the following performance milestone: a. Class A – Upon the commencement of mining at the Toondoon Project and execution of unconditional binding off-take agreement(s) totalling 50,000 tonnes of direct shipping ore (DSO) kaolin or metakaolin (domestic or international markets); b. Class B – Upon execution and completion of binding off-take agreement(s) totalling 200,000 tonnes of direct shipping ore kaolin or metakaolin (domestic or international markets); c. Class C – Upon execution and completion of binding off-take agreement(s) totalling 50,000 tonnes of manufactured zeolites; d. Class D – Upon Zeotech accruing its maiden gross revenue of great er than or equal to AUD$1,000,000 in an audited financial year from the Company’s kaolin resource(s) or proprietary technology developed or held by the Company; and e. Class E – Upon the date that the Company’s 21-day volume-weighted average share price is equal to/or exceeds a market capitalisation of AUD $250,000,000. All Performance Rights will lapse on the earliest to occur of: a. Subject to any automatic vesting in accordance with other terms, if the Vesting Condition has not been met; b. Cease employment with Zeotech; or c. On 5:00PM AEST on the five-year anniversary of the commencement date of employment. 4. The agreement is for no fixed term, although; a. May be terminated by either party by providing a six-month written notice b. May be terminated by the Company with immediate effect in the event of serious or wilful misconduct.
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Zeotech Limited Annual Report 2026 ASX: ZEO 26 Service agreements (continued) Scott Burkhart In October 2023, the Company entered into an Executive Service Agreement with Mr Scott Burkhart, effective 1 November 2023. Mr Burkhart joined Zeotech in October 2021 as Chief Operations Officer (COO). Under the Agreement, Mr Burkhart is engaged by the Company to provide services to the Company in the capacity of Chief Executive Officer (CEO) amended to Chief Operations Officer (COO) on 9 September 2024. The material terms of the executive service agreement with Mr Burkhart, as at 30 June 2026 and the date of this report are as follows: 1. $275,000 per annum base salary (plus statutory superannuation) on a full-time basis. 2. Following an executive remuneration review in April 2026, an increase in base salary (plus statutory superannuation) to $300,000 per annum was implemented, effective 1 June 2026; 3. The agreement is for no fixed term, although; a. May be terminated by the Company with 6 months’ notice under specified terms and subject to a termination benefit equal to the balance of term b. May be terminated by the Company with immediate effect in the event of serious or wilful misconduct.
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Zeotech Limited Annual Report 2026 ASX: ZEO 27 Service agreements (continued) Tim Anderson In October 2024, the Company entered into an Executive Service Agreement with Mr Tim Anderson, effective 18 November 2024. Under the Agreement, Mr Anderson is engaged by the Company to provide services to the Company in the capacity of Chief Commercial Officer (CCO) / General Manager (GM). The material terms of the executive service agreement with Mr Anderson are as follows: 1. $240,000 per annum base salary (plus statutory superannuation) on a full-time basis. 2. Following an Executive Remuneration review in November 2025, an incre ase in base salary (plus statutory superannuation) to $265,000 per annum was implemented, effective 1 December 2025. 3. Rights to the following performance incentive securities: Five tranches of performance rights (Class A, B, C, D and E) of 1,500,000 performance rights each, with each tranche having the following performance milestone: a. Class A – Upon the commencement of mining at the Toondoon Project and execution of unconditional binding off-take agreement(s) totalling 50,000 tonnes of direct shipping ore (D SO) kaolin or metakaolin (domestic or international markets); b. Class B – Upon execution and completion of binding off-take agreement(s) totalling 200,000 tonnes of direct shipping ore kaolin or metakaolin (domestic or international markets); c. Class C – Upon execution and completion of binding off-take agreement(s) totalling 50,000 tonnes of manufactured zeolites; d. Class D – Upon Zeotech accruing its maiden gross revenue of greater than or equal to AUD$1,000,000 in an audited financial year from the Company’s kaolin resource(s); and e. Class E – Upon Zeotech accruing its maiden gross revenue of greater than or equal to AUD$1,000,000 in an audited financial year from the Company’s proprietary technology developed or held by the Company. All Performance Rights will lapse on the earliest to occur of: a. Subject to any automatic vesting in accordance with other terms, if the Vesting Condition has not been met; b. Cease employment with Zeotech; or c. On 5:00PM AEST on the five-year anniversary of the commencement date of employment. 4. The agreement is for no fixed term, although; a. May be terminated by either party by providing a six-month written notice b. May be terminated by the Company with immediate effect in the event of serious or wilful misconduct.
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Zeotech Limited Annual Report 2026 ASX: ZEO 28 Shareholdings of key management personnel The number of ordinary shares in the Group held during the financial year by each director of Zeotech Limited and other key management personnel of the Group, including their personally related parties, is set out below. Balance at start of the year Granted as compensation Acquired / (Disposed) Net Change Other Balance at end of the year Directors Sylvia Tulloch 11,550,000 - - - 11,550,000 Peter Zardo 73,808,088 - - - 73,808,088 Robert Downey 5,250,000 - - - 5,250,000 Shane Graham (i) 840,000 - - - 840,000 Other key management personnel James Marsh - 1,000,000 708,462 (ii) - 1,708,462 Scott Burkhart 7,000,000 1,000,000 (1,750,000) (iii) - 6,250,000 Tim Anderson - 1,000,000 (500,000) (iv) - 500,000 (i) Subsequent to year end, Shane Graham acquired 2,000,000 shares through on-market trade. (ii) Acquired through on-market trade. (iii) Mr Scott Burkhart acquired 2,000,000 shares through the exercise of 2,000,000 performance rights and sold 3,750,000 through on - market trade. (iv) Sold through on-market trade. All equity transactions with key management personnel other than those arising from the exercise of remuneration options have been entered into under terms and conditions no more favourable than those the Group would have adopted if dealing at arm’s length.
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Zeotech Limited Annual Report 2026 ASX: ZEO 29 Option holdings of key management personnel The number of unlisted options over ordinary shares in the Company held during the financial year by directors of Zeotech Limited and other key management personnel of the Group, including their personally related parties, is set out below. Balance at start of the year Granted as compensati on Acquired / (Exercised) Net Change Other Balance at end of the year Vested and exercisable Unvested Directors Sylvia Tulloch - - - - - - - Peter Zardo - - - - - - - Robert Downey - - - - - - - Shane Graham - 20,000,000 - - 20,000,000 20,000,000 - Other key management personnel James Marsh - - - - - - - Scott Burkhart - - - - - - - Tim Anderson - Performance rights of key management personnel The number of performance rights in the Company held during the financial year by directors of Zeotech Limited and other key management personnel of the Group, including their personally related parties, is set out below. Balance at start of the year Granted as compensati on Acquired / (Exercised) Net Change Other Balance at end of the year Vested and exercisable Unvested Directors Sylvia Tulloch - - - - - - - Peter Zardo - 10,000,000 - - 10,000,000 - - Robert Downey - - - - - - - Shane Graham - 30,000,000 - - 30,000,000 - - Other key management personnel James Marsh 25,000,000 5,000,000 - - 30,000,000 - - Scott Burkhart 8,000,000 - (2,000,000) - 6,000,000 - - Tim Anderson - 9,000,000 - - 9,000,000 - - Shares provided on exercise of remuneration options During the financial year ended 30 June 2026, no remuneration options were exercised, and a total of 2,000,000 performance rights were converted into shares. End of remuneration report
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Zeotech Limited Annual Report 2026 ASX: ZEO 30 DIRECTORS' MEETINGS During the financial year, the Company held meetings of directors. The attendance of directors at meetings of the Board were: Director’s Meetings Audit Committee Meetings A B A B Sylvia Tulloch 4 4 2 2 Peter Zardo 4 4 2 2 Robert Downey 4 4 2 2 Shane Graham 4 3 2 2 Notes A – Number of meetings attended. B – Number of meetings held during the time the director held office during the period. SHARES UNDER OPTION At the date of this report there are 20,000,000 unissued ordinary shares in respect of which options are outstanding. Number of options Balance at the beginning of the year 5,850,000 Movements of share options during the period Lapsed (500,000) Exercised (5,350,000) Issued 20,000,000 Total number of options outstanding as at 30 June 2026 and the date of this report 20,000,000 The balance is comprised as follows: Expiry date Exercise price (cents) Number of options listed - - - unlisted 7 April 2028 $0.10 20,000,000 Total number of options outstanding at the date of this report 20,000,000 The following options lapsed during the year: Original Expiry date Exercise price (cents) Number of options listed - - - unlisted 31 October 2025 $0.06 500,000 Total option lapsed 500,000 5,350,000 shares in Zeotech Limited were issued during the year ended 30 June 2026 upon the exercise of options. No person entitled to exercise any option referred to above has or had, by virtue of the option, a right to participate in an y share issue of any other body corporate.
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Zeotech Limited Annual Report 2026 ASX: ZEO 31 INSURANCE OF DIRECTORS AND OFFICERS The Company has in place an insurance policy insuring Directors and Officers of the Company against any liability arising from a claim brought by a third party against the Company or its Directors and officers, and against liabilities for costs and expenses incurred by them in defending any legal proceedings arising out of their conduct while acting in their capacity as a Director or officer of the Company, other than conduct involving a wilful breach of duty in relation to the Company. In accordance with a confidentiality clause under the insurance policy, the amount of the premium paid to the insurers for 2026 has not been disclosed. This is permitted under Section 300(9) of the Corporations Act 2001. PROCEEDINGS ON BEHALF OF THE COMPANY No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on behalf of the Company, or to intervene in any proceedings to which the Company is a party, for the purpose of taking responsibility on behalf of the Company for all or any part of those proceedings. No proceedings have been brought or intervened in on behalf of the Company with leave of the Court under section 237 of the Corporations Act 2001. LIKELY DEVELOPMENTS AND EXPECTED RESULTS Other than the matters included in this Directors Report or elsewhere in the Annual Financial Report, future developments, business strategies and prospects of the Company and the expected results of those operations have not been disclosed as the Director s believe that their inclusion would most likely result in unreasonable prejudice to the Company. NON-AUDIT SERVICES No non-audit services have been provided by the Company’s auditors, In.Corp Audit & Assurance Pty Ltd. A copy of the auditor's independence declaration as required under section 307C of the Corporations Act 2001 is set out on page 32. Signed in accordance with a resolution of the directors. Sylvia Tulloch Chair 21 September 2026
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In.Corp Audit & Assurance Pty Ltd ABN 14 129 769 151 Level 1 6-10 O’Connell Street SYDNEY NSW 2000 Suite 11, Level 1 4 Ventnor Avenue WEST PERTH WA 6005 GPO BOX 542 SYDNEY NSW 2001 T +61 2 8999 1199 E team@incorpadvisory.au W incorpadvisory.au To the directors of Zeotech Limited: AUDITOR’S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 Liability limited by a scheme approved under Professional Standards Legislation In.Corp Audit & Assurance Pty Ltd Volha Romanchik Director 21 September 2026 As lead auditor of the audit of Zeotech Limited for the year ended 30 June 2026, I declare that, to the best of my knowledge and belief, there have been: • no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and • no contraventions of any applicable code of professional conduct in relation to the audit. This declaration is in respect of Zeotech Limited and the entities it controlled during the year. 32
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In.Corp Audit & Assurance Pty Ltd ABN 14 129 769 151 Level 1 6-10 O’Connell Street SYDNEY NSW 2000 Suite 11, Level 1 4 Ventnor Avenue WEST PERTH WA 6005 GPO BOX 542 SYDNEY NSW 2001 T +61 2 8999 1199 E team@incorpadvisory.au W incorpadvisory.au To the members of Zeotech Limited Opinion We have audited the financial report of Zeotech Limited (“the Company”) and its controlled entities (“the Group”), which comprises the consolidated statement of financial position as at 30 June 2026, the 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, and notes to the financial statements, including material accounting policy information, the consolidated entity disclosure statement and the directors’ declaration. In our opinion, the accompanying financial report of the Group, is in accordance with the Corporations Act 2001, including: a) giving a true and fair view of the Group’s financial position as at 30 June 2026 and of its financial performance for the year then ended; and b) complying with Australian Accounting Standards and the Corporations Regulations 2001. ZEOTECH LIMITED INDEPENDENT AUDITOR’S REPORT Basis for Opinion We conducted our audit in accordance with Australian Auditing Standards. 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 Group in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional & Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (“the Code”) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. We confirm that the independence declaration required by the Corporations Act 2001, which has been given to the directors of the Company, would be in the same terms if given to the directors as at the time of this auditor’s report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Liability limited by a scheme approved under Professional Standards Legislation 33
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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. These matters were 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 these matters. We have determined the following key audit matters to communicate in our report: ZEOTECH LIMITED INDEPENDENT AUDITOR’S REPORT (continued) Key Audit Matter How our Audit Addressed the Key Audit Matter Exploration and Evaluation Expenditure As disclosed in Note 10 to the financial statements, the Group records capitalised exploration assets with carrying value of $6,647,290, which represents 34% of the Group’s total assets. The recognition and recoverability of exploration was considered a key audit matter due to the following: • the carrying value represents a significant asset to the Group. Therefore, we considered it necessary to assess whether facts and circumstances existed to suggest that an impairment to the carrying value of the asset may be required; • significant management judgement is involved in determining whether impairment indicators exist. Our procedures in assessing exploration and evaluation expenditure included but were not limited to the following: • We reviewed the ownership rights to the tenements, against which the expenditure is capitalised, their expiry dates and, where required, that expenditure commitments were met; • We assessed the reasonableness of capitalising exploration and evaluation expenditure in accordance with AASB 6 Exploration for and Evaluation of Mineral Resources; • We tested a sample of exploration and evaluation expenditure to supporting documentation, including acquisition agreements, to ensure they were bona fide transactions; • We assessed the reasonableness of the management’s assessment for the existence impairment indicators; and • We assessed the appropriateness of the related disclosures included in the financial report. 34
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Key Audit Matters (continued) ZEOTECH LIMITED INDEPENDENT AUDITOR’S REPORT (continued) Key Audit Matter How our Audit Addressed the Key Audit Matter Recoverability of Intangible Assets As disclosed in Note 11 to the financial statements, the carrying value of Intangible Assets is $2,367,032. We consider the recoverability of the carrying value of intangible assets to be a key audit matter due to a high level of judgement and estimation involved. Our procedures in assessing the recoverability of the intangible assets included but were not limited to the following: • Review management’s assessment of the variables used in their impairment calculations and performed a sensitivity analysis to ascertain the impact a change in the variables would have on the calculations. • Consider the appropriateness of the recoverability assessment and considered whether it was in accordance with AASB 136 Impairment of Assets. • Assess whether the disclosures included in the financial report met the requirements of AASB 136. Going Concern The financial statements have been prepared on a going concern basis as disclosed in Note 1. The Group recorded a loss of $8,146,635 and operating cash outflows of $5,446,071. Given the Group's current-year loss and net cash outflows, together with its cash position at year end, assessing the appropriateness of the going concern basis of preparation required significant judgement. Due to the potential pervasive impact on the financial statements should this assessment be incorrect, we considered this a key audit matter. Our procedures over the going concern assessment included but were not limited to the following: • Review the financial position of the Group at year-end to determine whether there are any indicators of material uncertainties in relation to going concern; • Review management’s assessment of going concern, including the cash flow forecast and its underlying assumptions and performed sensitivity analyses; and • Review the ability of the Group to continue on a going concern basis with reference to its operational activity and results and prospects of raising additional capital, if required in the future. 35
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ZEOTECH LIMITED INDEPENDENT AUDITOR’S REPORT (continued) Other Information The Directors are responsible for the other information. The other information comprises the information included in the Company's annual report for the year ended 30 June 2026, but does not include the financial report and our auditor's report thereon. Our opinion on the financial report does not cover the other information and accordingly we do not express any form of assurance conclusion thereon. In connection with our audit of the financial report, our responsibility is to read the other information and, in doing so, 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. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Responsibilities of the Directors for the Financial Report The directors of the Company are responsible for the preparation of: a) the financial report (other than consolidated entity disclosure statement) that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001; and b) the consolidated entity disclosure statement that is true and correct in accordance with the Corporations Act 2001, and for such internal control as the directors determine is necessary to enable the preparation of: i. the financial report (other than consolidated entity disclosure statement) that gives a true and fair view and is free from material misstatement, whether due to fraud or error; and ii. the consolidated entity disclosure statement that is true and correct and is free of misstatement, whether due to fraud or error. In preparing the financial report, the directors are responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so. 36
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ZEOTECH LIMITED INDEPENDENT AUDITOR’S REPORT (continued) Auditor’s Responsibilities for the Audit of the Financial Report Our objectives are 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 and 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 this 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/admin/file/content102/c3/ar1_2020.pdf. This description forms part of our auditor’s report. 37
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In.Corp Audit & Assurance Pty Ltd Volha Romanchik Director 21 September 2026 ZEOTECH LIMITED INDEPENDENT AUDITOR’S REPORT (continued) REPORT ON THE REMUNERATION REPORT Opinion on the Remuneration Report We have audited the remuneration report included in the directors’ report for the year ended 30 June 2026. In our opinion the remuneration report of Zeotech Limited for the year ended 30 June 2026 complies with section 300A of the Corporations Act 2001. Responsibilities for the Remuneration Report 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 responsibility is to express an opinion on the Remuneration Report, based on our audit conducted in accordance with Australian Auditing Standards. 38
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Zeotech Limited Annual Report 2026 ASX: ZEO 39 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME YEAR ENDED 30 JUNE 2026 Notes Consolidated 2026 $ 2025 $ OTHER INCOME 4 1,371,150 966,093 EXPENDITURE Depreciation and amortisation expenses (180,133) (182,878) Employee benefits expenses 5 (2,736,107) (2,236,451) Exploration expenses (2,255,691) (874,278) Administration expenses (912,336) (635,904) Technology expenses (1,576,661) (860,308) Share based payments expenses 28 (1,782,620) (498,269) Loss on disposal of fixed assets (21,003) - Financing costs (53,234) (85,162) LOSS BEFORE INCOME TAX (8,146,635) (4,407,157) Income tax 6 - - LOSS FOR THE YEAR (8,146,635) (4,407,157) OTHER COMPREHENSIVE INCOME Foreign exchange loss on translation of foreign operations 74 (32) TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO MEMBERS OF ZEOTECH LIMITED (8,146,561) (4,407,189) Basic and diluted earnings per share for loss attributable to the ordinary equity holders of the Company (cents per share) 26 (0.405) (0.240) The above Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the Notes to the Consolidated Financial Statements.
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Zeotech Limited Annual Report 2026 ASX: ZEO 40 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AT 30 JUNE 2026 Notes Consolidated 2026 2025 $ $ CURRENT ASSETS Cash and cash equivalents 7 8,498,081 2,349,028 Trade and other receivables 8 294,387 101,299 TOTAL CURRENT ASSETS 8,792,468 2,450,327 NON-CURRENT ASSETS Property, plant and equipment 9 1,387,325 1,339,262 Exploration and evaluation costs 10 6,647,290 6,647,290 Intangible assets 11 2,367,032 2,333,382 Right-of-use asset 12 85,547 167,362 TOTAL NON-CURRENT ASSETS 10,487,194 10,487,296 TOTAL ASSETS 19,279,662 12,937,623 CURRENT LIABILITIES Trade and other payables 13 813,597 399,368 Provisions 14 294,862 238,738 Financial liabilities 15 - 1,021,643 Lease liability 12 97,271 81,623 TOTAL CURRENT LIABILITIES 1,205,730 1,741,372 NON-CURRENT LIABILITIES Provisions 14 84,926 - Lease liability 12 69,288 166,559 TOTAL NON-CURRENT LIABILITIES 154,214 166,559 TOTAL LIABILITIES 1,359,944 1,907,931 NET ASSETS 17,919,718 11,029,692 EQUITY Issued capital 16 62,869,770 49,155,303 Reserves 17(a) 4,236,526 3,427,532 Accumulated losses 17(b) (49,186,578) (41,553,143) TOTAL EQUITY 17,919,718 11,029,692 The above Consolidated Statement of Financial Position should be read in conjunction with the Notes to the Consolidated Financial Statements.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 41 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY YEAR ENDED 30 JUNE 2025 Notes Issued Equity Share-Based Payments and Options Reserves Foreign Exchange Reserves Financial Asset Reserves Accumulated Losses Total Consolidated $ $ $ $ $ $ BALANCE AT 1 JULY 2024 43,897,623 5,201,100 195,545 (140,000) (37,615,986) 11,538,282 Loss for the year 17(b) - - - - (4,407,157) (4,407,157) TOTAL COMPREHENSIVE LOSS - - - - (4,407,157) (4,407,157) TRANSACTIONS WITH OWNERS IN THEIR CAPACITY A S OWNERS Shares issued during the year 1,820,500 - - - - 1,820,500 Shares issued on satisfaction of performance rights 1,857,350 (1,857,350) - - - - Shares issued on exercise of options 1,469,500 - - - - 1,469,500 Loan funded shares loan repayment 150,000 (420,000) - - 420,000 150,000 Share issue costs (39,670) - - - - (39,670) Expiration of options - (50,000) - - 50,000 - Performance rights issued - 243,199 - - - 243,199 Provision for unissued options and performance rights - 255,070 - - - 255,070 Foreign exchange movement - - (32) - - (32) BALANCE AT 30 JUNE 2025 49,155,303 3,372,019 195,513 (140,000) (41,553,143) 11,029,692 The above Consolidated Statement of Changes in Equity should be read in conjunction with the Notes to the Consolidated Financial Statements.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 42 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY YEAR ENDED 30 JUNE 2026 Notes Issued Equity Share-Based Payments and Options Reserves Foreign Exchange Reserves Financial Asset Reserves Accumulated Losses Total Consolidated $ $ $ $ $ $ BALANCE AT 1 JULY 2025 49,155,303 3,372,019 195,513 (140,000) (41,553,143) 11,029,692 Loss for the year 17(b) - - - - (8,146,635) (8,146,635) TOTAL COMPREHENSIVE LOSS - - - - (8,146,635) (8,146,635) TRANSACTIONS WITH OWNERS IN THEIR CAPACITY AS OWNERS Shares issued during the year 13,000,000 - - - - 13,000,000 Shares issued on satisfaction of performance rights 74,000 (74,000) - - - - Shares issued under incentive share plan 386,500 - - - - 386,500 Shares issued in lieu of cash 139,410 - - - - 139,410 Shares issued on exercise of options 321,000 - - - - 321,000 Loan funded shares loan repayment 304,000 (513,200) - - 513,200 304,000 Share issue costs (510,443) - - - - (510,443) Performance rights and options vesting during the year - 1,651,190 - - - 1,651,190 Provision for unissued options and performance rights - (255,070) - - - (255,070) Foreign exchange movement - - 74 - - 74 BALANCE AT 30 JUNE 2026 62,869,770 4,180,939 195,587 (140,000) (49,186,578) 17,919,718 The above Consolidated Statement of Changes in Equity should be read in conjunction with the Notes to the Consolidated Financial Statements.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 43 CONSOLIDATED STATEMENT OF CASH FLOWS YEAR ENDED 30 JUNE 2026 Notes Consolidated 2026 $ 2025 $ CASH FLOWS FROM OPERATING ACTIVITIES Payments to suppliers and employees (4,738,327) (3,485,190) Expenditure on mining interests (2,052,838) (860,670) Finance costs (26,056) (64,177) Other income 1,371,150 966,093 Net cash outflow from operating activities 25 (5,446,071) (3,443,944) CASH FLOWS FROM INVESTING ACTIVITIES Payments for property, plant and equipment (167,384) (56,329) Payments for other intangible assets (33,650) (108,407) Net cash outflow from investing activities (201,034) (164,736) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issues of ordinary shares (net of share issue cost) 12,605,587 1,788,607 Proceeds from exercise of options 321,000 1,469,500 Proceeds from borrowings - 1,566,270 Repayment of borrowings (1,048,806) (1,066,270) Payments for lease liabilities (81,623) (67,930) Net cash inflow from financing activities 11,796,158 3,690,177 Net increase in cash and cash equivalents 6,149,053 81,497 Cash and cash equivalents at the beginning of the financial year 2,349,028 2,267,531 CASH AND CASH EQUIVALENTS AT THE END OF THE FINANCIAL YEAR 7 8,498,081 2,349,028 The above Consolidated Statement of Cash Flows should be read in conjunction with the Notes to the Consolidated Financial Statements.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 44 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 30 JUNE 2026 1. MATERIAL ACCOUNTING POLICY INFORMATION The accounting policies that are material in the preparation of the financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. The financial statements are for the consolidated entity consisting of Zeotech Limited and its subsidiaries. The financial statements are presented in Australian currency. Zeotech Limited is a company limited by shares, domiciled and incorporated in Australia. The financial statements were authorised for issue by the directors on 21 September 2026. The directors have the power to amend and reissue the financial statements. (a) Basis of preparation These general purpose financial statements have been prepared in accordance with Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board and the Corporations Act 2001. Zeotech Limited is a for- profit entity for the purpose of preparing the financial statements. (i) Compliance with IFRS The consolidated financial statements of Zeotech Limited also comply with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). (ii) New and amended standards adopted by the Group None of the new standards and amendments to standards that are mandatory for the first time for the financial year beginning 1 July 2025 affected any of the amounts recognised in the current period or any prior period and are not likely to affect future periods. (iii) Early adoption of standards The Group has not elected to apply any pronouncements before their operative date in the annual reporting period beginning 1 July 2025. AASB 18 Presentation and Disclosure in Financial Statements This standard is applicable to annual reporting periods beginning on or after 1 January 2027 and early adoption is permitted. The standard replaces IAS 1 'Presentation of Financial Statements', with many of the original disclosure requirements retained and there will be no impact on the recognition and measurement of items in the financial statements. But the standard will affect presentation and disclosure in the financial statements, including introducing five categories in the statement of profit or loss and other comprehensive income: operating, investing, financing, income taxes and discontinued operations. The standard introduces two mandatory sub-totals in the statement: 'Operating profit' and 'Profit before financing and income taxes'. There are also new disclosure requirements for 'management -defined performance measures', such as earnings before interest, taxes, depreciation and amortisation ('EBITDA') or 'adjusted profit'. The stand ard provides enhanced guidance on grouping of information (aggregation and disaggregation), including whether to present this information in the primary financial statements or in the notes. The consolidated entity will adopt this standard from 1 July 2027 and it is expected that there will be a significant change to the layout of the statement of profit or loss and other comprehensive income. (iv) Historical cost convention These financial statements have been prepared under the historical cost convention unless otherwise stated. (b) Other income recognition Interest Interest revenue is recognised on a time proportionate basis that takes into account the effective yield on the financial assets. Other income Other income is recognised when it is rece ived or when the right to receive payment is established. R&D refunds are a tax offset under the R&D tax incentive recognised on receipt of funds from the Australian Taxation Office for research and development expenditure incurred in the previous financial year.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 45 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) (c) Impairment of assets Intangible assets that have an indefinite useful life are not subject to amortisation and are tested annually for impairment, or more frequently if events or changes in circumstances indicate that they might be impaired. Other 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. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for whic h there are separately identifiable cash inflows which are largely independent of the cash inflows from other assets or groups of assets (cash-generating units). Non-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal of the impairment at each reporting date. (d) Financial liabilities The Group measures all financial liabilities initially at fair value less transaction costs, subsequently financial liabilities are measured at amortised cost using the effective interest rate method. The financial liabilities of the Group comprise of trade and other payables. (e) Property, Plant and equipment Land is measured at historical cost less any accumulated impairment losses and is not depreciated, as it is considered to have an indefinite useful life. The carrying amount is reviewed at each reporting date for indicators of impairment and written down to its recoverable amount where the carrying amount exceeds the estimated recoverable amount. All plant and equipment is stated at historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is derecognised when replaced. All other repairs and maintenance are charged to profit or loss during the reporting period in which they are incurred. Depreciation of plant and equipment is calculated using the reducing balance method to allocate their cost or revalued amounts, net of their residual values, over their estimated useful lives or, in the case of leasehold improvements and certain leased plant and equipment, the shorter lease term. The rates vary between 20% and 40% per annum. The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each reporting date. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These are included in the statement of profit or loss. When re-valued assets are sold, it is Group policy to transfer the amounts included in other reserves in respect of those assets to retained earnings. (f) Exploration and evaluation costs Exploration and evaluation costs are expensed in the year they are incurred apart from acquisition costs which are carried forward where right of tenure of the area of interest is current and they are expected to be recouped through the sale or successful development and exploitation of the area of i nterest or, where exploration and evaluation activities in the area of interest have not reached a stage that permits reasonable assessment of the existence of economically recoverable reserves. Where an area of interest is abandoned or the directors decide that it is not commercial, any accumulated acquisition costs in respect of that area are written off in the financial year the decision is made. Each ar ea of interest is reviewed at the end of each accounting period and accumulated costs are written off to the extent that they will not be recoverable in the future. (g) Intangible Assets Intangible assets are initially recognised at cost. Indefinite life i ntangible assets are not amortised and are subsequently measured at cost less any impairment. Finite life intangible assets are subsequently measured at cost less amortisation and any impairment. The gains or losses recognised in profit or loss arising fro m 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.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 46 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) Patents, trademarks and licences Patents, trademarks and licences have a finite useful life and are carried at cost less accumulated amortisation and impairment losses once the asset is considered held ready for use. Intellectual property and licences are amortised on a systematic basis matched to the future economic benefits over the useful life of the project once the patents are considered held ready to use. Significant costs associated with trademarks are deferred and amortised on a straight -line basis over the period of their expected benefit, being their finite life of 20 years. Research and development Expenditure during the research phase of a project is recognised as an expense when incurred. Development costs are capitalised only when technical feasibility studies identify that the project will deliver future economic b enefits and these benefits can be measured reliably. (h) Share-based payments The Group provides benefits to employees (including directors) of the Group in the form of share-based payment transactions, whereby employees render services in exchange for shares or rights over shares (‘equity-settled transactions’). The cost of these equity-settled transactions with employees is measured by reference to the fair value at the date at which they are granted. The fair value is determined by an internal valuation using a Black-Scholes option pricing model. The cost of equity-settled transactions is recognised, together with a corresponding increase in equity, over the period in which the performance conditions are fulfilled, ending on the date on which the relevant employees become fully entitled to the award (‘vesting date’). The cumulative expense recognised for equity -settled transactions at each reporting date until vesting date reflects (i) the extent to which the vesting period has expired and (ii) the number of options that, in the opinion of the directors of the Group, will ultimately vest. This opinion is formed based on the best available information at balance date. No adjustment is made for the likelihood of market performance conditions being met as the effect of these conditions is included in the determination of fair value at grant date. No expense is recognised for awards that do not ultimately vest, except for awards where vesting is conditional upon a market condition. Where an equity-settled award is cancelled, it is treated as if it had vested on the date of cancellation, and any expense not yet recognised for the award is recognised immediately. However, if a new award is substituted for the cancelled award and designated as a replacement award on the date that it is granted, the cancelled and new award are treated as if they were a modification of the original award. Options over ordinary shares have also been issued as consideration for the acquisition of interests in tenements and other services. These options have been treated in the same manner as employee options described above, with the expense being included as part of exploration expenditure. (i) Critical accounting judgements, estimates and assumptions The directors evaluate estimates and judgements incorporated into the financial report based on historical knowledge and best available current information. Estimates assume a reasonable expectation of future events and are based on current trends and economic data, obtained both externally and within the Group. Impairment of assets The Group assesses impairment at the end of each reporting period by evaluating conditions specific to the Group that may be indicative of impairment triggers. Recoverable amounts of relevant assets are reassessed using value-in-use calculations which incorporate various key assumptions. Share based payments The fair values of Options and Performance Rights are determined using option pricing models that take into account the exercise price, the term of the option or right, the impact of dilution, the share price at valuation date, expected price volatility of the underlying share, the expected dividend yield and the risk-free interest rate for the term of the option. Judgement has been exercised on the probability and timing of achieving the performance metrics related to the Options and Performance Rights.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 47 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) Exploration expenditure The application of the exploration and evaluation accountin g policy necessarily requires management to make certain estimates and assumptions as to future events and circumstances. Any such estimates and assumptions may change as new information becomes available. If, after having capitalised expenditure under the policy, it is concluded that the expenditures are unlikely to be recovered by future exploitation or sale, then the relevant capitalised amount will be written off to the Statement of Profit or Loss and Other Comprehensive Income. (j) Going concern The financial report has been prepared on the basis of accounting principles applicable to a going concern, which assumes the commercial realisation of the future potential of the Group’s assets and the discharge of its liabilities in the normal course of business. The Group incurred a loss of $8,146,635 and recorded net cash outflows from operating activities of $5,446,071 during the year ended 30 June 2026. Nevertheless, the directors consider it is appropriate to prepare the consolidated entity’s financial statement on a going concern basis and recognise that additional funding may be required to ensure the consolidated entity can continue its operations for the next twelve months and to fund the continued development of the consolidated entity’s exploration assets. This basis has been determined after consideration of the following factors: • The ability to issue additional share capital under the Corporations Act 2001, if required, by a share purchase plan, share placement or rights issue; • Debt financing, including convertible note issues and financing available secured by future research and development tax incentives; • The option of farming out all or part of the consolidated entity’s exploration projects; and • The ability, if required to dispose of interests in exploration and development assets. Consequently, the Board considers the Group is a going concern and that it is appropriate to adopt that basis of accounting in the preparation of the financial report. 2. FINANCIAL RISK MANAGEMENT The Group’s activities expose it to a variety of financial risks: market risk (including currency risk, interest rate risk and price risk), credit risk and liquidity risk. The Group’s overall risk management program focuses on the unpredictability of financi al markets and seeks to minimise potential adverse effects on the financial performance of the Group. Risk management is carried out by the full Board of Directors as the Group believes that it is crucial for all Board members to be involved in this process. The Board has responsibility for identifying, assessing, treating and monitoring risks and reporting to the Board on risk management. (a) Market risk (i) Price risk Given the current level of operations, being mineral exploration projects, the Group is not exposed to price risk. (ii) Interest rate risk The Group is exposed to movements in market interest rates on cash and cash equivalents. The Group policy is to monitor the interest rate yield curve out to six months to ensure a balance is maintained be tween the liquidity of cash assets and the interest rate return. The entire balance of un-restricted cash and cash equivalents for the Group $8,498,081 (2025: $2,349,028) is subject to interest rate risk. The proportional mix of floating interest rates and fixed rates to a maximum of six months fluctuate during the period depending on current working capital requirements. The weighted average interest rate received on cash and cash equivalents by the Group was 3.55% (2025: 1.28%). Sensitivity analysis At 30 June 2026, if interest rates had changed by +/- 100 basis points from the weighted average rate for the period with all other variables held constant, post-tax loss for the Group would have been $84,981 (2025: $23,490) lower/higher as a result of lower/higher interest income from cash and cash equivalents.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 48 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) (b) Credit risk The Group has no significant concentrations of credit risk. The maximum exposure to credit risk at balance date is the carrying amount (net of provision for impairment) of those assets as disclosed in the statement of financial position and notes to the financial statements. As the Group does not presently have any debtors, lending, significant stock levels or any other credit risk, a formal credit risk management policy is not maintained. (c) Liquidity risk The Group manages liquidity risk by continuously monitoring forecast and actual cash flows and ensuring sufficient cash and marketable securities are available to meet the current and future commitments of the Group. Due to the nature of the Group’s activities, being mineral exploration, the Group does not have ready access to credit facilities, with the primary source of funding being equity raisings. The Board of D irectors constantly monitor the state of equity markets in conjunction with the Group’s current and future funding requirements, with a view to initiating appropriate capital raisings as required. The financial liabilities of the Group are confined to trade and other payables as disclosed in the statement of financial position. All trade and other payables are non-interest bearing and due within 12 months of the reporting date. Financial instruments used 2026 2025 $ $ Financial assets held at amortised cost Cash and cash equivalents 8,498,081 2,349,028 Trade and other receivables 294,387 101,299 Total financial assets 8,792,468 2,352,152 Financial liabilities measured at amortised cost Trade and other payables 813,597 399,368 Financial liabilities - 1,021,643 Total financial liabilities 813,597 1,421,011 Payment schedule of financial liabilities Less than 6 months 6 – 12 months 1 – 2 years 2 – 5 years Total Trade and other payables $813,597 - - - -
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 49 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) Consolidated 2026 2025 $ $ 3. SEGMENT INFORMATION The Group operates in the mineral exploration industry in Australia. For management purposes, the Group is organised into one main operating segment which involves exploration, evaluation and related activities of minerals in Australia (i.e. advancing commercialisation of its patent-pending and trade-secret zeolite mineral processing technology). All of the Group’s activities are interrelated and discrete financial information is reported to the board (Chief Operating Decision Maker) as a single segment. Accordingly, all significant operating decisions are based upon analysis of the Group as one segment. The financial results from this segment are equivalent to the financial statements of the Group as a whole. 4. OTHER INCOME From continuing operations Interest 265,388 60,209 Other income 145,000 - R&D refund 960,762 905,884 1,371,150 966,093 5. EXPENSES Loss before income tax includes the following specific expenses: Employee benefits expense Defined contribution superannuation expense 233,116 208,785 6. INCOME TAX (a) Income tax expense Current tax - - Deferred tax - - - - (b) Numerical reconciliation of income tax expense to prima facie tax payable Loss from continuing operations before income tax expense (8,146,635) (4,407,157) Prima facie tax benefit at the Australian tax rate of 30% (2,443,991) (1,322,147) Tax effect of amounts which are not deductible (taxable) in calculating taxable income: Research and Development Grant (229,404) (125,175) Entertainment - (32) Share-based payments 534,786 149,481 (2,138,609) (1,297,873) Movements in unrecognised temporary differences (259,168) 20,491 Tax effect of current year tax losses for which no deferred tax asset has been recognised 2,397,777 1,277,382 Income tax expense - -
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 50 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) Consolidated 2026 2025 $ $ 6. INCOME TAX (CON’T) (c) Unrecognised temporary differences Deferred Tax Assets (at 30%) On Income Tax Account Provision for expenses 164,453 152,299 Capital raising costs 148,631 47,499 Carry forward revenue tax losses 11,986,430 12,263,453 12,299,514 12,463,251 Deferred Tax Liabilities (at 30%) Intangible assets 350,110 340,015 Capitalised tenement acquisition costs 252,687 252,687 602,797 592,702 Net deferred tax assets have not been brought to account as it is not probable within the immediate future that tax profits will be available against which deductible temporary differences and tax losses can be utilised. The Group’s ability to use losses in the future is subject to the Group satisfying the relev ant tax authority’s criteria for using these losses. 7. CURRENT ASSETS - CASH AND CASH EQUIVALENTS Cash and cash equivalents Cash at bank and in hand 8,498,081 2,349,028 Cash and cash equivalents as shown in the statement of financial position and the statement of cash flows 8,498,081 2,349,028 Cash at bank and in hand earns interest at floating rates based on daily bank deposit rates. Short-term deposits are made for varying periods of between one day and three months depending on the im mediate cash requirements of the Group and earn interest at the respective short-term deposit rates. 8. CURRENT ASSETS - TRADE AND OTHER RECEIVABLES Prepayments 9,512 20,620 GST refundable 186,825 77,555 Environmental bond 84,926 - Other receivables 13,124 3,124 294,387 101,299
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 51 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) Consolidated 2026 2025 $ $ 9. NON-CURRENT ASSETS – PROPERTY, PLANT AND EQUIPMENT Property, Plant and equipment Cost 1,772,395 1,656,995 Accumulated depreciation (385,070) (317,733) Net book amount 1,387,325 1,339,262 Land Opening net book amount 910,133 910,133 Closing net book amount 910,133 910,133 Plant and equipment Opening net book amount 267,955 272,672 Additions 37,070 56,329 Disposals (51,986) - Reversal of accumulated depreciation on disposal 30,983 - Depreciation charge (57,405) (61,046) Closing net book amount 226,617 267,955 Motor vehicles Opening net book amount 30,650 38,260 Additions 130,314 - Depreciation charge (14,951) (7,610) Closing net book amount 146,013 30,650 Leasehold improvements Opening net book amount 121,334 151,461 Depreciation charge (24,134) (30,127) Closing net book amount 97,200 121,334 Software Opening net book amount 9,190 11,471 Depreciation charge (1,828) (2,281) Closing net book amount 7,362 9,190 10. NON-CURRENT ASSETS – EXPLORATION AND EVALUATION COSTS Tenement acquisition costs carried forward in respect of mining areas of interest Opening net book amount 6,647,290 6,647,290 Additions - - Capitalised tenement acquisition costs written off - - Closing net book amount 6,647,290 6,647,290 The ultimate recoupment of costs carried forward for tenement acquisition is dependent on the successful development and commercial exploitation or sale of the respective mining areas. Amortisation of the costs carried forward for the development phase is not being charged pending the commencement of production. Tenement acquisition costs carried forward relate to the Group’s Australian held tenements.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 52 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) Consolidated 2026 2025 $ $ 11. NON-CURRENT ASSETS – INTANGIBLE ASSETS Patents and Licences Cost 2,367,032 2,333,382 Less: Accumulated amortisation and impairment - - Net book amount 2,367,032 2,333,382 Reconciliation Carrying amount at the beginning of the period 2,333,382 2,231,815 Additions during the period 33,650 101,567 Disposals - - Amortisation expense - - Balance at the end of the financial year 2,367,032 2,333,382 Synthetic Zeolite Mineral Processing Technology The Company holds an exclusive worldwide licence to manufacture (synthesise) zeolites, originally secured from UniQuest Pty Ltd, the technology transfer company of The University of Queensland. The carrying amount of intangible assets comprises the licence and assignment fees, milestone payments, and capitalised patent and trademark costs associated with the Company's proprietary manufactured (synthetic) zeolite mineral processing Technology. Since acquiring the Technology, the Company has continued to incur costs associated with the maintenance and protection of its intellectual property, including patent and trademark registrations across a number of jurisdictions, which are capitalised as additions to the carrying amount of the asset. During the year, patent protection was granted in Australia and South Korea, following the grant of the corresponding patent in Japan in the prior year. Impairment testing An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. During the year, impairment testing was undertaken on the granted patents held in Japan, South Korea and Australia. Impairment testing was required under AASB 136 as the intangible asset is not being amortised. The recoverable amount was determined using the Relief from Royalty (‘RFR’) valuation method. The calculations require the use of assumptions. The assumptions used were a market size of $8.642 billion, royalty rate of 4%, royalty term of 10 years, discount rate of 20.9% and disposal costs of 3%. The Company has concluded that no impairment is required. Management has assessed the sensitivity of the recoverable amount to reasonably possible changes in the key assumptions. Reducing the royalty rate from 4% to 3% and increasing the discount rate from 20.9% to 25% were considered. Under each of these sensiti sed assumptions the recoverable amount continued to exceed the carrying amount of the intangible assets and, accordingly, no impairment would be required. The Company is not aware of any reasonably possible change in a key assumption that would cause the carrying amount to exceed the recoverable amount.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 53 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) Consolidated 2026 2025 $ $ 12. RIGHT-OF-USE ASSET AND LEASE LIABILITY The Group’s right-of-use assets include a building and car parking bays (in the form of an office lease). In May 2022, the Group signed a 5-year office lease commencing on 30 June 2023. Right-of-use assets Leased buildings and car parking bays 406,251 406,251 Accumulated amortisation (320,704) (238,889) 85,547 167,362 Lease liability Current 97,271 81,623 Non-current 69,288 166,559 166,559 248,182 13. CURRENT LIABILITIES - TRADE AND OTHER PAYABLES Trade payables 338,483 164,692 Other payables and accruals 475,114 234,676 813,597 399,368 Fair Value and Risk Exposures (i) Due to the short-term nature of these payables, their carrying value is assumed to approximate their fair value. (ii) Trade and other payables are unsecured and usually paid within 60 days of recognition. 14. CURRENT AND NON-CURRENT LIABILITIES – PROVISIONS Current Provision for annual leave 263,270 213,159 Provision for oncosts 31,592 25,579 294,862 238,738 Non-current Environmental provision (i) 84,926 - 84,926 - (i) A provision has been made in respect of environmental rehabilitation on tenements based on the disturbance criteria as determined by the Queensland Department of Mines. 15. CURRENT LIABILITIES – FINANCIAL LIABILITIES Secured borrowings – shareholder loans - 1,021,643 Secured borrowings - - - 1,021,643 The $1,021,643 shareholder loan was payable to Mr Michael John Gregg and Mrs Suzanne Jane Gregg, with interest of 8% per annum and is secured by land (360 Jankes Road, Brovinia, Queensland). The loan was repaid in full on 31 October 2025.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 54 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) 16. ISSUED CAPITAL (a) Share capital 2026 2025 Notes Number of shares $ Number of shares $ Ordinary shares fully paid 16(b), 16(d) 2,057,320,690 62,869,770 1,880,228,065 49,155,303 Total issued capital 2,057,320,690 62,869,770 1,880,228,065 49,155,303 (b) Movements in ordinary share capital Beginning of the financial year 1,880,228,065 49,155,303 1,753,423,065 43,897,623 Issued during the year: • Conversion of performance rights - - 39,630,000 1,783,350 • Conversion of employee performance rights 2,000,000 74,000 2,000,000 74,000 • Issued for cash at 8.0 cents per share 162,500,000 13,000,000 - - • Issued for cash at 3.0 cents per share - - 60,683,333 1,820,500 • Exercise of options at $0.06 5,350,000 321,000 24,491,667 1,469,500 • Employee loan funded shares loan repayment - 304,000 - 150,000 • Issued to employees for Incentive Share Plan (refer Note 28) 5,500,000 386,500 - - • Issued in lieu of services 1,742,625 139,410 - - Less: Transaction costs - (510,443) - (39,670) End of the financial year 2,057,320,690 62,869,770 1,880,228,065 49,155,303 (c) Movements in options on issue Beginning of the financial year 5,850,000 68,917,388 Issued during the year 20,000,000 30,341,667 Options exercised during the year (5,350,000) (24,491,667) Options expired during the year (500,000) (68,917,388) End of the financial year 20,000,000 5,850,000 At the beginning of the financial year the Company had the following options on issue: • 5,850,000 (unlisted, ex $0.06 on or before 31 October 2025) During the financial year the following options were issued: • 20,000,000 (unlisted, ex $0.10 on or before 7 April 2028) During the financial year the following options were exercised: • 5,350,000 (unlisted, ex $0.06 on or before 31 October 2025) During the financial year the following options expired: • 500,000 (unlisted, ex $0.06 on or before 31 October 2025) (d) Ordinary shares Ordinary shares entitle the holder to participate in dividends and the proceeds on winding up of the Company in proportion to the number of and amounts paid on the shares held. On a show of hands every holder of ordinary shares present at a meeting in person or by proxy, is entitled to one vote, and upon a poll each share is entitled to one vote. Ordinary shares have no par value and the Company does not have a limited amount of authorised capital.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 55 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T Consolidated 2026 2025 $ $ 16. ISSUED CAPITAL (CON’T) (e) Performance Rights Beginning of the financial year 33,000,000 79,630,000 Issued during the year 61,500,000 35,000,000 Performance rights converted on satisfaction of performance milestone (2,000,000) (41,630,000) Performance rights lapsed during the year - (40,000,000) End of the financial year 92,500,000 33,000,000 17. RESERVES AND ACCUMULATED LOSSES (a) Reserves Share-based payments and option reserve 4,180,939 3,372,019 Foreign currency translation reserve 195,587 195,513 Financial asset reserve (140,000) (140,000) 4,236,526 3,427,532 Movements: Share-based payments and option reserve Balance at beginning of financial year 3,372,019 5,201,100 Options expired during the year - (50,000) Loan funded shares loan repayment (513,200) (420,000) Shares issued on satisfaction of performance rights (74,000) (1,857,350) Share based payment expense 1,651,190 243,199 Provision for unissued options (147,288) 147,288 Provision for unissued performance rights (107,782) 107,782 Balance at end of financial year 4,180,939 3,372,019 Foreign currency translation reserve Balance at beginning of year 195,513 195,545 Exchange differences on translation of foreign operation 74 (32) Balance at end of financial year 195,587 195,513 Financial asset reserve Balance at beginning of year (140,000) (140,000) Fair value decrease in financial assets - - Balance at end of financial year (140,000) (140,000) (b) Accumulated losses Balance at beginning of financial year (41,553,143) (37,615,986) Loan funded shares loan repayment 513,200 420,000 Options expired during the year - 50,000 Net loss for the year (8,146,635) (4,407,157) Balance at end of financial year (49,186,578) (41,553,143)
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 56 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) Consolidated 2026 2025 $ $ 17. RESERVES AND ACCUMULATED LOSSES (CON’T) (c) Nature and purpose of reserves (i) Share-based payments reserve The share-based payments reserve is used to recognise the fair value of options and performance rights issued and provisions for unissued options and performance rights with a contractual obligation to be issued. (ii) Foreign currency translation reserve Exchange differences arising on translation of the foreign controlled entities are taken to the foreign currency translation reserve. The reserve is recognised in profit and loss when the net investment is disposed of. (iii) Financial asset reserve The financial asset reserve records the fair value movement on financial assets. 18. DIVIDENDS No dividends were paid during the financial year. No recommendation for payment of dividends has been made. 19. KEY MANAGEMENT PERSONNEL DISCLOSURES (a) Key management personnel compensation Short-term benefits 1,648,291 1,374,125 Post-employment benefits 138,593 120,366 Other long-term benefits - - Termination benefits - - Share-based payments 1,464,057 489,309 3,250,941 1,983,800 Detailed remuneration disclosures are provided in the remuneration report on pages 19 to 29. Apart from the detail in this note, no director has entered into a material contract with the Company or the Group since the end of the previous financial year and there were no material contracts involving directors’ interests existing at year end. Certain non-executive directors provided consulting services to the Group during the year. These services were charged to the Group based on the days worked. The total amount payable while they hel d positions as directors is shown in the Remuneration Report. (b) Loans to key management personnel There were no loans to key management personnel during the year other than non-recourse loan for the Shares issued under the Incentive Share Plan (refer Note 28 for further details). (c) Other transactions with key management personnel Services Legal fees of $49,250 (2025: $14,601) were paid to Dominion Legal, a partnership of which Mr Robert Downey is a partner. The amounts paid were on arm’s length commercial terms. Consultancy fees of Nil (2025: $400) were paid to Conviam Pty Ltd, of which Sylvia Tulloch’s son is the sole shareholder and director. The amounts paid were on arm’s length commercial terms.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 57 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) Consolidated 2026 2025 $ $ 20. REMUNERATION OF AUDITORS During the year, the following fees were paid or payable for services provided by the auditor of the Company, its related practices and non-related audit firms: (a) Audit services In.Corp Audit & Assurance Pty Ltd – audit and review of financial reports 43,325 40,500 Total remuneration for audit services 43,325 40,500 21. COMMITMENTS (a) Exploration commitments The Group has certain commitments to meet minimum expenditure requirements on the mining exploration assets in which it has an interest. Outstanding exploration commitments are as follows: within one year 325,000 358,020 later than one year but not later than five years 902,000 1,290,000 1,227,000 1,648,020 (i) Work programs associated with recently renewed EPMs are outcomes based. Therefore, the financial commitments are estimates only and do not reflect a minimum amount that must be spent. (b) Research commitments The Group has certain commitments to meet research milestone payments to Griffith University as follows: within one year 139,796 241,871 later than one year but not later than five years - 35,000 139,796 276,871 Research agreements relate to the methane emissions control program.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 58 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) 22. CONTINGENCIES Toondoon Royalties On 8 December 2022, the Company executed Agreements for the freehold land underlying the Company’s approved Mining Lease (ML 80126) at the high-grade Toondoon kaolin project, located in the North Burnett District of Queensland. The property acquisition was settled on 20 December 2022. Royalties of $2.00 per tonne on all minerals produced and sold from the land is payable as part of the acquisition Agreement. 23. RELATED PARTY TRANSACTIONS (a) Parent entity The ultimate parent entity within the Group is Zeotech Limited. (b) Subsidiaries Interests in subsidiaries are set out in note 24. (c) Key management personnel Disclosures relating to key management personnel are set out in note 19. (d) Loans to related parties Zeotech Limited has provided unsecured, interest free loans to its wholly owned subsidiaries totalling $8,691,356 (202 5: $6,443,384). An impairment assessment is u ndertaken each financial year by examining the financial position of each subsidiary and the market in which the respective subsidiary operates to determine whether there is objective evidence that the subsidiary is impaired. When such objective evidence e xists, the Company recognises an allowance for the impairment loss. The loans were impaired by a total of $6,517,589 (2025: $5,766,115). 24. SUBSIDIARIES The consolidated financial statements incorporate the assets, liabilities and results of the following subsidiaries: Name Country of incorporation Class of shares Equity Holding(1) 2026 2025 % % Kalotech Pty Ltd Australia Ordinary 100 100 Abercorn Kaolin Pty Ltd Australia Ordinary 100 100 Kraaipan Founders Pty Ltd Australia Ordinary 100 100 Kraaipan Founders (UK) Pty Ltd UK Ordinary 100 100 KFPL (UK) Pty Ltd UK Ordinary 100 100 South East Metals (Pty) Ltd Botswana Ordinary 100 100 Laconia South America Pty Ltd(2) Australia Ordinary 100 100 Gold Mines of Peru SAC Peru Ordinary 100 100 (1) The proportion of ownership interest is equal to the proportion of voting power held. (2) This entity was incorporated on 1 November 2011 with Zeotech Limited as the sole shareholder.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 59 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) Consolidated 2026 2025 $ $ 25. STATEMENT OF CASH FLOWS Reconciliation of net loss after income tax to net cash outflow from operating activities Net loss for the year (8,146,635) (4,407,157) Non-Cash Items Depreciation of non-current assets 180,133 182,878 Share-based payments expenses 1,782,620 498,269 Shares issued in lieu of cash 139,410 - Loss on disposal of fixed asset 21,003 - Change in operating assets and liabilities (Increase) in trade and other receivables (193,088) (44,512) Increase in trade and other payables 770,486 326,578 Net cash outflow from operating activities (5,446,071) (3,443,944) 26. EARNINGS PER SHARE (a) Reconciliation of earnings used in calculating earnings per share Loss attributable to the owners of the Company used in calculating basic and diluted earnings per share (8,146,561) (4,407,189) Number of shares 2026 2025 (b) Weighted average number of shares used as the denominator Weighted average number of ordinary shares used as the denominator in calculating basic and diluted earnings per share 2,009,843,119 1,833,514,047 (c) Information on the classification of options As the Group has made a loss for the year ended 30 June 2026, all 20,000,000 options on issue and 65,500,000 loan shares are considered anti-dilutive and have not been included in the calculation of diluted earnings per share. These options and loan shares could potentially dilute basic earnings per share in the future.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 60 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) Consolidated 2026 2025 $ $ 27. PARENT ENTITY INFORMATION The following information relates to the parent entity, Zeotech Limited, at 30 June 2026. The information presented here has been prepared using accounting policies consistent with those presented in Note 1. Current assets 10,869,066 3,115,354 Non-current assets 10,504,189 10,504,289 Total assets 21,373,255 13,619,643 Current liabilities 1,204,653 1,995,290 Non-current liabilities 69,288 166,559 Total liabilities 1,273,941 2,161,849 Net assets 20,099,314 11,457,794 Issued capital 62,869,770 49,155,303 Foreign Currency Reserve 166,449 166,449 Share-based payments and option reserves 4,180,937 3,116,948 Financial asset reserve (140,000) (140,000) Accumulated losses (46,977,842) (40,840,906) Total equity 20,099,314 11,457,794 Loss for the year (6,650,137) (3,755,411) Total comprehensive loss for the year (6,650,137) (3,755,411)
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 61 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) 28. SHARE BASED PAYMENTS Shares issued under Incentive Share Plan: There were no Shares issued to directors, employees and consultants under the Company’s ESIP during the year ended 30 June 2025. During the financial year, a total 5,500,000 Shares were issued under the Company’s Incentive Share Plan to employees as an incentive reward for delivering a successful and robust Pre-Feasibility Study. The Shares were issued for nil consideration and vest immediately. The fair value per Plan Share was calculated using the Share price on Grant Date and are detailed below. Incentive Share Plan Number Grant Date Share Price Total Value Plan Shares 1 (issued to Mr James Marsh) 1,000,000 6/07/2025 $0.068 $68,000 Plan Shares 2 (issued to Mr Scott Burkhart) 1,000,000 10/07/2025 $0.070 $70,000 Plan Shares 3 (issued to Mr Tim Anderson) 1,000,000 1/07/2025 $0.068 $68,000 Plan Shares 4 500,000 1/07/2025 $0.068 $34,000 Plan Shares 5 250,000 1/07/2025 $0.068 $17,000 Plan Shares 6 250,000 1/07/2025 $0.068 $17,000 Plan Shares 7 500,000 7/07/2025 $0.065 $32,500 Plan Shares 8 1,000,000 5/11/2025 $0.080 $80,000 During the financial year, the Directors resolved to pay Mr Peter Zardo a $150,000 STI bonus. Mr Peter Zardo used the bonus to pay off the $150,000 remaining balance of the loan relating to his 20,000,000 Plan Shares received in December 2020.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 62 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) 28. SHARE BASED PAYMENTS (CON’T) Options issued under Incentive Option Scheme: There were 20,000,000 (2025: nil) new options granted during the year under the Incentive Option Scheme. The following table is a summary of the movement of options that have been issued under the Incentive Option Scheme. 2026 number 2025 Number 2026 weighted average exercise price 2025 weighted average exercise price Outstanding at the beginning of the year 5,850,000 - $0.06 - Granted during the year 20,000,000 - $0.10 - Exercised during the year (5,350,000) - $0.06 - Lapsed during the year (500,000) - $0.06 - Outstanding at the end of the year 20,000,000 - $0.10 - Exercisable at the end of the year 20,000,000 - $1,782,620 (2025: $498,269) share based payments and options expense was charged against operations for the year. As part of Mr Shane Graham’s executive service agreement, 20,000,000 options exercisable at $0.10 and expiring 7 April 2028 were issued to Mr Shane Graham, following Shareholder approval, during the financial year. The fair value per option issued to Mr Shane Graham is 3.90 cents each (calculated using the Black Scholes method – share price of $0.08, risk-free interest rate of 3.32% and volatility of 80%), the total value to be recognised over the 12 -month vesting period is $618,000, with $470,712 being recognised during the financial year. Performance Rights Granted: There were 61,500,000 (2025: 35,000,000) performance rights issued during the year. The following table is a summary of the movement of performance rights. 2026 number 2025 number 2026 weighted average exercise price 2025 weighted average exercise price Outstanding at the beginning of the year 33,000,000 79,630,000 - - Granted during the year 61,500,000 35,000,000 - - Exercised during the year (2,000,000) (41,630,000) - - Lapsed during the year - (40,000,000) - - Outstanding at the end of the year 92,500,000 33,000,000 - -
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 63 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) 28. SHARE BASED PAYMENTS (CON’T) The value recognised as share-based payments expense and fair value of performance rights that were granted or already on issue during the financial year are determined using the following inputs. Holder Performance Rights Quantity Grant Date Issue Date Share Price on Grant Date Probability of Vesting Fair Value Estimate at Grant Date Value Recognised During the Year Employee Milestone 10# 1,500,000 12/5/2025 19/8/2025 $0.089 50% $66,750 $13,350 Employee Milestone 9# 1,500,000 12/5/2025 19/8/2025 $0.089 50% $66,750 $13,350 Employee Milestone 8# 1,500,000 12/5/2025 19/8/2025 $0.089 50% $66,750 $13,350 Employee Milestone 7# 1,500,000 12/5/2025 19/8/2025 $0.089 50% $66,750 $13,350 Employee Milestone 6# 1,500,000 12/5/2025 19/8/2025 $0.089 50% $66,750 $13,350 Peter Zardo Milestone 5# 2,500,000 4/12/2025 23/12/2025 $0.082 50% $102,500 $22,705 Peter Zardo Milestone 4# 2,500,000 4/12/2025 23/12/2025 $0.082 50% $102,500 $22,705 Peter Zardo Milestone 3# 2,500,000 4/12/2025 23/12/2025 $0.082 50% $102,500 $22,705 Peter Zardo Milestone 2# 2,500,000 4/12/2025 23/12/2025 $0.082 50% $102,500 $22,705 Tim Anderson Milestone 1# 1,500,000 10/7/2025 19/8/2025 $0.07 50% $52,500 $12,352 James Marsh Milestone 1# 5,000,000 6/7/2025 19/8/2025 $0.068 50% $170,000 $40,000 Shane Graham Class A* 7,500,000 8/12/2025 23/12/2025 $0.08 50% $300,000 $104,575 Shane Graham Class B* 7,500,000 8/12/2025 23/12/2025 $0.08 50% $300,000 $104,575 Shane Graham Class C* 7,500,000 8/12/2025 23/12/2025 $0.08 50% $300,000 $104,575 Shane Graham Class D* 7,500,000 8/12/2025l 23/12/2025 $0.08 50% $300,000 $104,575 Tim Anderson Class A* 1,500,000 22/10/2024 19/8/2025 $0.03 75% $33,750 $6,750 Tim Anderson Class B* 1,500,000 22/10/2024 19/8/2025 $0.03 50% $22,500 $4,500 Tim Anderson Class C* 1,500,000 22/10/2024 19/8/2025 $0.03 50% $22,500 $4,500 Tim Anderson Class D* 1,500,000 22/10/2024 19/8/2025 $0.03 75% $33,750 $8,279 Tim Anderson Class E* 1,500,000 22/10/2024 19/8/2025 $0.03 50% $22,500 $4,500 Scott Burkhart Class B - completion of fulltime employment as of 31 October 2025 2,000,000 30/10/2024 31/10/2024 $0.037 100% $74,000 $24,667 Scott Burkhart Class C - completion of fulltime employment as of 31 October 2026 2,000,000 30/10/2024 31/10/2024 $0.037 75% $55,500 $27,750 Scott Burkhart Class D - completion of fulltime employment as of 31 October 2027 2,000,000 30/10/2024 31/10/2024 $0.037 75% $55,500 $18,500 Scott Burkhart Class E - completion of fulltime employment as of 31 October 2028 2,000,000 30/10/2024 31/10/2024 $0.037 75% $55,500 $13,876 James Marsh Class A* 5,000,000 16/8/2024 1/11/2024 $0.035 75% $131,250 $26,250 James Marsh Class B* 5,000,000 16/8/2024 1/11/2024 $0.035 50% $87,500 $17,500 James Marsh Class C* 5,000,000 16/8/2024 1/11/2024 $0.035 50% $87,500 $17,500 James Marsh Class D* 5,000,000 16/8/2024 1/11/2024 $0.035 75% $131,250 $33,801 James Marsh Class E* 5,000,000 16/8/2024 1/11/2024 $0.035 50% $87,500 $17,500 *Refer to Service Agreements in the Remuneration Report for vesting conditions #Refer Milestones below for vesting conditions
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 64 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) 27. SHARE BASED PAYMENTS (CON’T) Milestone 1 Upon execution and completion of a binding joint venture and/or profit -sharing agreement for commercial AusPozz (Metakaolin) production utilising Toondoon kaolin feedstock. Milestone 2 Upon execution and completion of a binding off take agreement(s) totalling 100,000 tonnes per annum of AusPozzTM (metakaolin). Milestone 3 Upon execution and completion of a binding off take agreement(s) totalling 200,000 tonnes per annum of AusPozz ™ (metakaolin). Milestone 4 Upon execution and completion of a binding off take agreement(s) totalling 300,000 tonnes per annum of AusPozz ™ (metakaolin). Milestone 5 Upon execution and completion of a binding joint venture and/or profit -sharing agreement for commercial AusPozz ™ (metakaolin) production utilising Toondoon kaolin feedstock. Under the terms of the joint venture and/or profit -sharing agreement, production volumes can trigger the achievement of Class A, Class B and Class C vesting conditions based upon: i. 100,000 to 199,999 tonnes per annum – Class A; ii. 200,000 to 299,999 tonnes per annum – Class A and Class B; iii. 300,000+ tonnes per annum – Class A, Class B and Class C. Milestone 6 Successful concrete testing and/or trials leading to a binding AusPozz ™ offtake and/or binding MOU for a total volume of at least 25,000 tonnes per annum to precast concrete businesses . Milestone 7 Successful concrete testing and/or trials leading to a binding AusPozz ™ offtake and/or binding MOU for a total volume of at least 25,000 tonnes per annum to mining companies Milestone 8 Upon execution and completion of binding off -take agreement(s) totalling at least 50,000 tonnes of Auspozz metakaolin (domestic or international markets) Milestone 9 Upon execution and completion of binding off -take agreement(s) totalling at least 200,000 tonnes of Auspozz metakaolin (domestic or international markets) Milestone 10 Upon execution and completion of a binding joint venture and/or profit -sharing agreement for commercial AusPozz (Metakaolin) production utilising Toondoon kaolin feedstock. The value recognised as share-based payments expense and fair value of performance rights that were granted to employees during the financial year but are yet to be issued are determined using the following inputs. Performance Rights Quantity Grant Date Issue Date Share Price on Grant Date Probability of Vesting Fair Value Estimate at Grant Date Value Recognised During the Year Milestone 11# 1,500,000 16/2/2026 To be Issued $0.074 75% $83,250 $30,563 Milestone 12# 1,500,000 16/2/2026 To be Issued $0.074 50% $55,500 $20,375 Milestone 13# 1,500,000 16/2/2026 To be Issued $0.074 50% $55,500 $20,375 #Refer Milestones below for vesting conditions Milestone 11 Upon obtaining all approvals required to commence mining and logistics operations for Kaolin DSO under the terms of the binding offtake agreement with Jiangsu Mineral Sources International Trading Co, Limited. Milestone 12 Upon the completion of all enabling infrastructure required to commence mining and logistics operations for Kaolin DSO under the terms of the binding offtake agreement with Jiangsu Mineral Sources International Trading Co, Limited. Milestone 13 Upon completion of the first commercial shipment of Kaolin DSO under the terms of the binding offtake agreement with Jiangsu Mineral Sources International Trading Co, Limited. Reconciliation of share-based payments expense 2026 2025 $ $ Options 470,712 147,288 Performance rights 925,408 276,981 Shares issued under the Incentive Share Plan 386,500 74,000 Total share-based payments expense 1,782,620 498,269
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 65 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CON’T) 29. EVENTS OCCURRING AFTER BALANCE DATE No matters or circumstances have arisen since the end of the financial year which significantly affected or may significa ntly affect the operations of the Group, the results of those operations, or the state of affairs of the Group in future financial years other than the below. (i) On 6 July 2026, the Company provided an update on progress at the Toondoon Kaolin Project, including an extension to the offtake agreement with Jiangsu Mineral Sources International Trading Co., Limited, completion of a significant exploration campaign, contractor selection for key road and access works, advancement of port lease negotiations and receipt of proposals for an initial Kaolin DSO trial shipment. (ii) On 13 July 2026, the Company announced the results of independent test work undertaken by Sustainable Future by Design, which confirmed the technical performance and potential cost benefits of AusPozz™ in underground cemented paste backfill applications. (iii) On 13 August 2026, the Company entered into a non -binding Memorandum of Understanding with VINCI Construction Service Partagé. The parties will collaborate on concrete trials and demonstrations usi ng AusPozz™, exchange technical information and test results, and assess potential future commercial opportunities. (iv) On 25 August 2026, the Company announced the successful completion of its six-month landfill methane control field trial conducted with Griffith University at the North Burnett Regional Council Waste Management Facility. The final report confirmed that zeoteCH₄®-amended cells recorded average methane emissions 92% lower than untreated control cells under real-world landfill conditions.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 66 CONSOLIDATED ENTITY DISCLOSURE STATEMENT Name Entity Type Country of Incorporation Ownership Interest % Tax Residency Kalotech Pty Ltd Body Corporate Australia 100 Australia Abercorn Kaolin Pty Ltd Body Corporate Australia 100 Australia Kraaipan Founders Pty Ltd Body Corporate Australia 100 Australia Kraaipan Founders (UK) Pty Ltd Body Corporate UK 100 UK KFPL (UK) Pty Ltd Body Corporate UK 100 UK South East Metals (Pty) Ltd Body Corporate Botswana 100 Botswana Laconia South America Pty Ltd Body Corporate Australia 100 Australia Gold Mines of Peru SAC Body Corporate Peru 100 Peru
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 67 DIRECTORS' DECLARATION In the directors’ opinion: (a) the financial statements, notes and additional disclosures are in accordance with the Corporations Act 2001, including: (i) complying with Accounting Standards, the Corporations Regulations 2001 and other mandatory professional reporting requirements; and (ii) giving a true and fair view of the Group’s and the consolidated entity’s financial position as at 30 June 2026 and of their performance for the financial year ended on that date; (b) the consolidated entity disclosure statement is true and correct; (c) there are reasonable grounds to believe that the Group will be able to pay its debts as and when they become due and payable; and (d) a statement that the attached financial statements are in compliance with International Financial Reporting Standards has been included in the notes to the financial statements. The directors have been given the declarations by the chief executive officer and chief financial officer required by section 295A of the Corporations Act 2001. This declaration is made in accordance with a resolution of the directors. Sylvia Tulloch Chair 21 September 2026
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 68 ANNUAL MINERAL RESOURCE STATEMENT 1. Mineral Resource Estimate – Abercorn Project A summary of the Mineral Resources at the Abercorn Project as at 30 June 2026 is shown in Table 1 below. The Mineral Resource estimation was carried out by Angela Phipson BSc, MSc and reported on 6 July 2020. In completing the annual review for the year ended 30 June 2026, the historical resource factors were reviewed and found to be relevant and current. The Abercorn Project has not been converted to any active operation yet and hence no resource depletion has occurred for the review period. The Mineral Resource estimate consists of: • 37.45Mt yielding 36.8% -20µm grading 28.6% Al 2O3 & 1.18% K2O, using a cut-off grade of 26% Al2O3; • A high-grade section within the Project area called the Railcut Prospect contains 14Mt yielding 38% -20µm fraction grading 30.26% Al2O3 & 0.89% K2O, using a cut-off grade of +29% Al2O3; • A second high-grade section within the Project area called the Area 3 Prospect contains 1.66 Mt yielding 30.9% - 20µm fraction grading 30.7% Al2O3 & 0.83% K2O. Table 1: Abercorn Project Mineral Resources Statement (as at 30 June 2026) Railcut Resource Table Grade Category Estimated Grade Tonnes (million) Al2O3 (%) K2O (%) -20µm (%) Al2O3% ≥ 26% Indicated 22.22 29.06 1.13 37.14 Inferred 15.23 27.88 1.25 36.35 Total 37.45 28.58 1.18 36.82 Area 3 Prospect Resource Table Grade Category Estimated Grade Al2O3 ≥ 29% Tonnes (million) Al2O3 (%) K2O (%) -20µm (%) Inferred 1.66 30.74 0.83 30.86
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 69 2. Mineral Resource Estimate – Toondoon Project A summary of the Mineral Resources at the Toondoon Project as at 30 June 2026 is shown in Table 2 below. The Mineral Resource estimation was carried out by Graham Rolfe, a Competent Person, and reported on 24 June 2025. In completing the annual review for the year ended 30 June 2026, the historical resource factors were reviewed and found to be relevant and current. The Toondoon Project has not been converted to any active operation yet and hence no resource depletion has occurred for the review period. Table 2:Toondoon Project Mineral Resources Statement (30 June 2026) Resource Category Lithology Volume (Mm3) Density (t/m3) Tonnes (T) Al2O3 % Fe2O3 % SiO2 % TiO2 % LOI % K2O % Cut-Off Grade Measured Bauxitic Clay 750,000 1.66 1,250,000 38.81 13.86 21.92 4.53 20.07 0.06 No cut-off applied Measured Plastic ‘Grey’ Clay 1,380,000 1.46 2,010,000 35.45 4.98 41.39 3.38 14.20 0.02 No cut-off applied Measured Kaolinite ‘Pink’ Clay (High Iron) 510,000 1.42 720,000 36.79 1.92 44.92 2.19 13.63 0.05 No cut-off applied Measured Kaolinite ‘White’ Clay (Low Iron) 900,000 1.44 1,300,000 37.48 0.41 46.50 1.59 13.43 0.12 No cut-off applied Measured Sandy Clay 800,000 1.65 1,320,000 26.79 0.73 61.24 1.21 9.52 0.05 23% Al2O3 Indicated Bauxitic Clay 1,510,000 1.66 2,510,000 37.04 16.05 22.62 4.19 19.43 0.05 No cut-off applied Indicated Plastic ‘Grey’ Clay 2,620,000 1.46 3,830,000 35.22 4.84 42.09 3.15 14.06 0.03 No cut-off applied Indicated Kaolinite ‘Pink’ Clay (High Iron) 950,000 1.42 1,350,000 36.48 2.32 45.24 1.85 13.49 0.08 No cut-off applied Indicated Kaolinite ‘White’ Clay (Low Iron) 1,150,000 1.44 1,660,000 37.57 0.40 46.43 1.58 13.41 0.12 No cut-off applied Indicated Sandy Clay 1,460,000 1.65 2,410,000 26.10 0.76 62.15 1.21 9.25 0.05 23% Al2O3 Inferred Bauxitic Clay 480,000 1.66 800,000 30.73 27.86 22.44 3.19 15.18 0.03 No cut-off applied Inferred Plastic ‘Grey’ Clay 510,000 1.46 740,000 34.19 5.88 42.41 3.55 13.31 0.03 No cut-off applied Inferred Kaolinite ‘Pink’ Clay (High Iron) 110,000 1.42 160,000 34.81 6.00 44.02 1.46 13.07 0.15 No cut-off applied Inferred Sandy Clay 190,000 1.65 310,000 28.04 2.22 57.93 1.19 10.12 0.06 23% Al2O3
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 70 3. Material Changes and Resource Statement Comparison A comparison between the 2025 and 2026 Mineral Resource Estimate (MRE) for the Abercorn Project is shown in Table 3 and for the Toondoon Project in Table 4. Table 3: Abercorn Project Mineral Resource Comparison Between 2025 and 2026 Estimate as at 30 June 2026 Railcut Resource Table Grade Category Estimated Grade Tonnes (million) Al2O3 (%) K2O (%) -20µm (%) Al2O3% ≥ 26% Indicated 22.22 29.06 1.13 37.14 Inferred 15.23 27.88 1.25 36.35 Total 37.45 28.58 1.18 36.82 Area 3 Prospect Resource Table Grade Category Estimated Grade Al2O3 ≥ 29% Tonnes (million) Al2O3 (%) K2O (%) -20µm (%) Inferred 1.66 30.74 0.83 30.86 Estimate as at 30 June 2025 Railcut Resource Table Grade Category Estimated Grade Tonnes (million) Al2O3 (%) K2O (%) -20µm (%) Al2O3% ≥ 26% Indicated 22.22 29.06 1.13 37.14 Inferred 15.23 27.88 1.25 36.35 Total 37.45 28.58 1.18 36.82 Area 3 Prospect Resource Table Grade Category Estimated Grade Al2O3 ≥ 29% Tonnes (million) Al2O3 (%) K2O (%) -20µm (%) Inferred 1.66 30.74 0.83 30.86 The updated estimation represented no change.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 71 Table 4: Toondoon Project Mineral Resource Comparison Between 2025 and 2026 Estimate as at 30 June 2026 Resource Category Lithology Volume (Mm3) Density (t/m3) Tonnes (T) Al2O3 % Fe2O3 % SiO2 % TiO2 % LOI % K2O % Cut-Off Grade Measured Bauxitic Clay 750,000 1.66 1,250,000 38.81 13.86 21.92 4.53 20.07 0.06 No cut-off applied Measured Plastic ‘Grey’ Clay 1,380,000 1.46 2,010,000 35.45 4.98 41.39 3.38 14.20 0.02 No cut-off applied Measured Kaolinite ‘Pink’ Clay (High Iron) 510,000 1.42 720,000 36.79 1.92 44.92 2.19 13.63 0.05 No cut-off applied Measured Kaolinite ‘White’ Clay (Low Iron) 900,000 1.44 1,300,000 37.48 0.41 46.50 1.59 13.43 0.12 No cut-off applied Measured Sandy Clay 800,000 1.65 1,320,000 26.79 0.73 61.24 1.21 9.52 0.05 23% Al2O3 Indicated Bauxitic Clay 1,510,000 1.66 2,510,000 37.04 16.05 22.62 4.19 19.43 0.05 No cut-off applied Indicated Plastic ‘Grey’ Clay 2,620,000 1.46 3,830,000 35.22 4.84 42.09 3.15 14.06 0.03 No cut-off applied Indicated Kaolinite ‘Pink’ Clay (High Iron) 950,000 1.42 1,350,000 36.48 2.32 45.24 1.85 13.49 0.08 No cut-off applied Indicated Kaolinite ‘White’ Clay (Low Iron) 1,150,000 1.44 1,660,000 37.57 0.40 46.43 1.58 13.41 0.12 No cut-off applied Indicated Sandy Clay 1,460,000 1.65 2,410,000 26.10 0.76 62.15 1.21 9.25 0.05 23% Al2O3 Inferred Bauxitic Clay 480,000 1.66 800,000 30.73 27.86 22.44 3.19 15.18 0.03 No cut-off applied Inferred Plastic ‘Grey’ Clay 510,000 1.46 740,000 34.19 5.88 42.41 3.55 13.31 0.03 No cut-off applied Inferred Kaolinite ‘Pink’ Clay (High Iron) 110,000 1.42 160,000 34.81 6.00 44.02 1.46 13.07 0.15 No cut-off applied Inferred Sandy Clay 190,000 1.65 310,000 28.04 2.22 57.93 1.19 10.12 0.06 23% Al2O3
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 72 Estimate as at 30 June 2025 Resource Category Lithology Volume (Mm3) Density (t/m3) Tonnes (T) Al2O3 % Fe2O3 % SiO2 % TiO2 % LOI % K2O % Cut-Off Grade Measured Bauxitic Clay 750,000 1.66 1,250,000 38.81 13.86 21.92 4.53 20.07 0.06 No cut-off applied Measured Plastic ‘Grey’ Clay 1,380,000 1.46 2,010,000 35.45 4.98 41.39 3.38 14.20 0.02 No cut-off applied Measured Kaolinite ‘Pink’ Clay (High Iron) 510,000 1.42 720,000 36.79 1.92 44.92 2.19 13.63 0.05 No cut-off applied Measured Kaolinite ‘White’ Clay (Low Iron) 900,000 1.44 1,300,000 37.48 0.41 46.50 1.59 13.43 0.12 No cut-off applied Measured Sandy Clay 800,000 1.65 1,320,000 26.79 0.73 61.24 1.21 9.52 0.05 23% Al2O3 Indicated Bauxitic Clay 1,510,000 1.66 2,510,000 37.04 16.05 22.62 4.19 19.43 0.05 No cut-off applied Indicated Plastic ‘Grey’ Clay 2,620,000 1.46 3,830,000 35.22 4.84 42.09 3.15 14.06 0.03 No cut-off applied Indicated Kaolinite ‘Pink’ Clay (High Iron) 950,000 1.42 1,350,000 36.48 2.32 45.24 1.85 13.49 0.08 No cut-off applied Indicated Kaolinite ‘White’ Clay (Low Iron) 1,150,000 1.44 1,660,000 37.57 0.40 46.43 1.58 13.41 0.12 No cut-off applied Indicated Sandy Clay 1,460,000 1.65 2,410,000 26.10 0.76 62.15 1.21 9.25 0.05 23% Al2O3 Inferred Bauxitic Clay 480,000 1.66 800,000 30.73 27.86 22.44 3.19 15.18 0.03 No cut-off applied Inferred Plastic ‘Grey’ Clay 510,000 1.46 740,000 34.19 5.88 42.41 3.55 13.31 0.03 No cut-off applied Inferred Kaolinite ‘Pink’ Clay (High Iron) 110,000 1.42 160,000 34.81 6.00 44.02 1.46 13.07 0.15 No cut-off applied Inferred Sandy Clay 190,000 1.65 310,000 28.04 2.22 57.93 1.19 10.12 0.06 23% Al2O3 The updated estimation represented no change.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 73 4. Governance Arrangements and Internal Controls The Company currently does not have a formal governance arrangement and internal control process for the reporting and review of its Mineral Resource Estimates, other than those prescribed for the initial estimation of Mineral Resource Estimates in the JORC Code. The Company is of the view that a formal governance arrangement and internal control process is not required at this stage on the basis that the maiden Mineral Resource Estimate for the Abercorn Project was announced on 6 July 2020 and the Abercorn Project has not been converted to any active operation yet and hence no resource depletion has occurred since the maiden Mineral Resource Estimate. The Mineral Resource Estimate for the Toondoon Project was announced on 24 July 2025, and the Toondoon Project has not been converted to any active operation yet and hence no resource depletion has occurred since reporting the Mineral Resource Estimate. The Company will consider whether a formal governance arrangement and internal control process is required prior to 30 June 2027. The Company is not aware of any new information or data that materially affects the information included in the referenced ASX announcements and confirms that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The company confirms that the form and context i n which the Competent Person’s findings are presented have not been materially modified from the original market announcement.
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 74 Substantial Shareholders Substantial shareholders who have notified the Company in accordance with section 671B of the Corporations Act 2001 are as follows: Shareholder No. of Shares % LL & P Pty Ltd 110,796,540 5.39 Uniquest Pty Ltd 108,480,512 5.27 Michael John & Suzanne Jane Gregg 144,550,000 7.03 H & C Wellbeing Pty Ltd, WFC Nominees Australia Pty Ltd & 392649 Pty Ltd 160,236,908 7.79 ASX ADDITIONAL INFORMATION Additional information required by Australian Securities Exchange and not shown elsewhere in this re port is as follows. The information is current as at 4 September 2026. Number of quoted and unquoted equity securities Equity Security Quoted Unquoted Ordinary shares 2,057,320,690 - Performance Rights - 92,500,000 Options expiring 7 April 2028 - 20,000,000 Distribution of holders of equity securities Fully paid ordinary shares Performance Rights Options 7/4/2028 1 - 1,000 106 - - 1,001 - 5,000 131 - - 5,001 – 10,000 343 - - 10,001 - 100,000 1,122 - - 100,000 and over 901 6 1 2,603 6 1 Holding less than a marketable parcel 339
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 75 Unquoted Equity Securities holdings greater than 20% Number Held Performance Rights Mr James Edward Marsh 30,000,000 Mr Shane Michael Graham 30,000,000 Options exercisable at $0.10 each, expiring 7 April 2028 Mr Shane Michael Graham 20,000,000 Twenty largest holders of quoted equity securities Fully Paid Ordinary Shares The names of the twenty largest holders of quoted ordinary shares (ASX:ZEO) are: Number of shares Percentage of total ordinary shares 1 H & C Wellbeing Pty Ltd <H & C Property A/C> 140,989,723 6.85% 2 Uniquest Pty Ltd 108,480,512 5.27% 3 LL&P Pty Ltd <The Andrew Solomons S/F A/C > 101,535,259 4.94% 4 Mr Michael John Gregg & Mrs Suzanne Jane Gregg 97,400,000 4.73% 5 Buttonwood Nominees Pty Ltd 76,000,000 3.69% 6 Dontoro Pty Ltd <The Mollica Family A/C> 55,232,609 2.68% 7 Mr Michael John Gregg 47,150,000 2.29% 8 Echelon Super Pty Ltd <Echelon Super Fund A/C> 43,360,109 2.11% 9 Baldey Super Pty Ltd <Baldey Super Fund A/C> 41,220,420 2.00% 10 Leaver Trading Pty Ltd 38,210,504 1.86% 11 Agribusiness Management Pty Ltd <Zardo Super Fund A/C> 35,308,088 1.72% 12 Acillom Pty Ltd <Mollica Super Fund A/C> 32,827,536 1.60% 13 J&M Page Superannuation Pty Ltd <J&M Page Super Fund A/C> 31,363,140 1.52% 14 Mr Andre Szarukan & Ms Rose Braniska <The A & R Super fund A/C> 29,635,551 1.44% 15 Mr Peter Zardo <Zardo Family A/C> 26,500,000 1.29% 16 Mr Peter Coroneos 22,000,000 1.07% 17 Mr Brian William Hobson & Mrs Chantal Cecile Huberte Hobson <Choice Concept Family A/C> 21,227,786 1.03% 18 Echelon Super Pty Ltd <Echelon S/F A/C> 20,639,891 1.00% 19 Ian Petherbridge Retirement Fund Pty Ltd < Ian Petherbridge R/F A/C> 19,000,000 0.92% 20 Pit2 Co Pty Ltd (Power Investment 2 A/C> 18,750,000 0.91% 1,006,831,128 48.94%
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Zeotech Limited Annual Report 2026 ASX Code: ZEO 76 Voting rights All ordinary shares (whether fully paid or not) carry one vote per share without restriction. Home exchange The Company is listed on the Australian Securities Exchange. The Home Exchange is Perth. The Company’s securities are not quoted on any other stock exchange. Buy back Nil. Restricted securities There were no securities restricted by the ASX at the date of this report or the year ended 30 June 2026. Schedule of interest in mining tenements Location Tenement Percentage held/earning Australia EPM 19081 100 Australia EPM 26837 100 Australia EPM 26903 100 Australia EPM 27427 100 Australia ML 80126 100 Australia EPM 27395 100 Australia EPM 27866 100 CORPORATE GOVERNANCE STATEMENT The Board of Directors of Zeotech Limited are responsible for the corporate governance of the Company. The Board guides and monitors the business and affairs of the Company on behalf of the shareholders by whom they are elected and accountable. The Board continuously reviews its governance practices to ensure they remain consistent with the needs of the Company. ASX Listing Rule 4.10.3 requires listed companies to disclose the extent to which they have complied with the ASX Best Practice Recommendations of the ASX Corporate Governance Council in the reporting period. The Corporate Governance Statement and the Appendix 4G statement have been released to the ASX and can be found on the Company’s website at www.zeotech.com.au