COSMOS EXPLORATION LIMITED — Capital/Financing Update 2026

Feb 16, 2026

ASX RELEASE | 17 February 2026 | ASX:C1X

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EAU Lithium Executes Negotiation Agreement with YLB

Cosmos Exploration Limited (ASX: C1X) (“Cosmos” or “the Company”) is pleased to announce that EAU Lithium Pty Ltd (“EAU Lithium”) has executed a Negotiation Agreement with Yacimientos de Litio Bolivianos (“YLB”), Bolivia’s state-owned lithium company. Cosmos is a shareholder of EAU Lithium and holds an exclusive option to acquire 100% of EAU Lithium pursuant to an existing agreement[1] as part of EAU’s corporate strategy to deliver a lithium production project in Bolivia in a strategic technology partnership with Vulcan Energy Resources.

EAU Lithium Press Release:

EAU Lithium Pty Ltd (“EAU Lithium”) confirms that it has signed a Negotiation Agreement with Yacimientos de Litio Bolivianos (“YLB”), Bolivia’s state-owned lithium company.

The Agreement sets out how the two parties will conduct formal discussions towards a possible future Contract for the implementation of industrial plants, utilizing the VULSORB[®] A-DLE technology licensed to EAU Lithium by Vulcan Energie Ressourcen GmbH, a subsidiary of Vulcan Energy Resources (ASX:VUL, FRA:VUL) (“Vulcan Energy”).

The Agreement follows earlier technical testing work led by EAU Lithium – demonstrating Vulcan Energy’s VULSORB[®] A-DLE technology on brine samples from Pastos Grandes, Empexa and Coipasa - and a subsequent invitation from YLB to continue negotiations.

Vulcan Energy’s VULSORB[®] A-DLE technology has also been trialled successfully on synthesised Uyuni brine samples at Edith Cowen University in Western Australia[2] .

EAU Lithium, in strategic technology partnership with Vulcan Energy, was selected from 34 parties in the Public Tender Round #2 to proceed with technology testing and viability modelling, with the technical testing contract signed with EAU Lithium at a formal ceremony in La Paz in December 2024[3] , accompanied by senior dignitaries from the Bolivian government and European Union and Member State Ambassadors and senior representatives.

EAU Lithium has received diplomatic support from the European Union, in particular Germany[45] , reflecting the strategic technology partnerships with Vulcan’s German subsidiaries responsible for the technology licensing and broader engineering support, including geothermal energy research potential.

1 ASX Announcement 19 December 2024

2 Farrokhrouz, M., Khiadani, M., Madelatparvar, M., Razmjou, A., Boroumand, Y., & Sarmadi, A. Sorption-based lithium extraction from diverse brines using aluminium-based adsorbent . Journal of Water Process Engineering , 72 (2025) 107593

3 YLB signs agreements with companies from Australia, France and Argentina to test lithium production technologies in Oruro and Potosí , Ministry of Hydrocarbons and Energies (Bolivia), December 3, 2024

4 German Foreign Minister confirms that an Australian-German consortium is operating in Bolivia and seeking to explore lithium deposits, Unitel, November 10, 2025, available at: https://unitel.bo/noticias/economia/ministro-aleman-existeun-consorcio-australiano-aleman-que-ya-trabaja-aqui-y-que-quiere-explorar-los-yacimientos-de-litio-OM18059698 5 Former German President Christian Wulff specified that the EAU Lithium consortium passed technological tests with YLB, Eldeber, February 06, 2026 available at: https://eldeber.com.bo/economia/litio-bolivia-aun-anima-europaalemania-pone-condiciones-sociales_1770375109

Cosmos Exploration Limited Level 1, 1 Alvan St Subiaco WA 6008 Email: info@cosmosx.com.au www.cosmosx.com.au

ASX RELEASE | 17 February 2026 | ASX:C1X

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Vulcan is building its flagship Lionheart project in Germany and has recently completed a major financing round[6] to fund the construction its integrated lithium-geothermal project utilising its VULSORB[®] A-DLE technology, including substantial funding from the European and German governments. This financing reflects the strategic importance of lithium to Europe’s industrial and decarbonisation agenda. Vulcan is committed to the global deployment of its VULSORB A-DLE technology through trusted partners such as EAU Lithium.

Negotiation Agreement

The negotiation agreements is a procedural framework for the negotiation of discussions between EAU Lithium and YLB. It stipulates an agreed set of principles and working arrangements for those negotiations in a structure that recognises Bolivia’s sovereignty, environmental responsibilities, and the importance of prior consultation principles.

The negotiation agreement is not an industrial or production agreement nor an approval to commence operations. It doesn’t grant rights over land or resources and it does not replace community consultation or further regulatory processes.

The potential future contract for the implementation of industrial plants will require negotiation under the Negotiation Agreement.

The Agreement is governed by the laws of the Plurinational State of Bolivia and reflects YLB’s role as custodian of lithium resources on behalf of the Bolivian people.

EAU Lithium confirms that negotiations with YLB, a state-owned entity, involve commercially sensitive information and will, in large part, be conducted on a confidential basis. Notwithstanding this, EAU Lithium remains committed to maintaining the highest level of transparency possible and will provide updates on the progress of negotiations when appropriate. EAU Lithium will continue to keep stakeholders informed as it advances development activities in Bolivia, consistent with applicable legal and regulatory requirements.

EAU Lithium notes that the Government of the Plurinational State of Bolivia has actively promoted the lithium sector as a strategic pillar of national development. Most recently, a high-level mission from the European Union visited Bolivia’s lithium industrial complex in Uyuni. This engagement reflects broad international interest in Bolivia’s lithium potential, aligning with government efforts to attract cooperation and investment while upholding principles of sustainability, local value addition, and responsible resource governance.[7]

Approved for release by the board of EAU Lithium

ENDS

6 Australian Securities Exchange (ASX), ASX Release, Vulcan Energy Resources (ASX: VUL), December 3, 2025.

7 The current Bolivian government has publicly expressed its commitment to strengthening the lithium sector through policies that ensure legal certainty, fiscal stability, and transparent regulatory frameworks, with the aim of attracting responsible long-term investment and fostering sustainable development.

Cosmos Exploration Limited Level 1, 1 Alvan St Subiaco WA 6008 Email: info@cosmosx.com.au www.cosmosx.com.au

ASX RELEASE | 17 February 2026 | ASX:C1X

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This announcement has been authorised by the Board of Cosmos Exploration Limited.

For further information please contact:

Jeremy Robinson Executive Chair Cosmos Exploration Limited jeremy@cosmosx.com.au

About Cosmos Exploration

Cosmos Exploration Limited (ASX: C1X) is an ASX-listed critical minerals company focused on building strategic exposure to lithium and other battery materials through disciplined project evaluation, structured transaction pathways and direct exploration across specific jurisdictions.

The Company’s portfolio comprises exclusive option agreements, joint venture interests and wholly owned exploration assets in Canada and Australia. Cosmos applies a technically rigorous and compliance-driven approach to project advancement, government engagement and stakeholder management, positioning the Company to participate in the growing global demand for energy transition materials.

Disclaimer

No representation or warranty, express or implied, is made by the Company that the material contained in this announcement will be achieved or proved correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisors and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this announcement and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this announcement or any error or omission therefrom. The Company will not update or keep current the information contained in this announcement or correct any inaccuracy or omission which may become apparent, or furnish any person with any further information. Any opinions expressed in this announcement are subject to change without notice.

Forward Looking Statements

This announcement contains certain forward-looking statements, including statements of current intent, belief, or expectations regarding the Company's business operations, market conditions, financial performance, or future events. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from expectations. Such risks include, but are not limited to, changes in market conditions, regulatory developments, or other unforeseen events. These forward-looking statements are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. The Company does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Cosmos Exploration Limited Level 1, 1 Alvan St Subiaco WA 6008 Email: info@cosmosx.com.au www.cosmosx.com.au