DALAROO METALS LTD — Interim / Quarterly Report 2026

Mar 12, 2026

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INTERIM FINANCIAL REPORT For the Half -Year Ended 31 December 2025

ABN 23 648 476 699

DALAROO METALS LTD ABN 23 648 476 699

CONTENTS PAGE

	Page
Corporate Directory	3
Directors’ Report	4
Auditor’s Independence Declaration	8
Condensed Statement of Profit or Loss and Other Comprehensive Income	9
Condensed Statement of Financial Position	10
Condensed Statement of Changes in Equity	11
Condensed Statement of Cash Flows	12
Notes to the Financial Statements	13
Directors’ Declaration	24
Independent Audit Report	25

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DALAROO METALS LTD ABN 23 648 476 699

CORPORATE DIRECTORY

Directors Bilal Ahmad Non-Executive Director Joshua Gordon Non-Executive Director Tim Wither Non-Executive Director appointed 25 Nov 2025 David Quinlivan Non-Executive Chair resigned 25 Nov 2025 Chief Executive Officer John Morgan appointed 24 November 2025 Company secretary Jay Stephenson Registered office Level 50, 180 St Georges Terrace Perth WA 6000 Principal place of business Level 50, 180 St Georges Terrace Perth WA 6000 Share register Automic Pty Ltd Level 5, 126 Phillip Street Sydney NSW 2000 Auditor Hall Chadwick 283 Rokeby Road Subiaco, WA 6008 Solicitors Steinepreis Paganin Level 14, 250 St Georges Terrace Perth WA 6000 Stock Exchange Listing Dalaroo Metals Ltd is listed on the Australian Securities Exchange. Home exchange: Perth, Western Australia ASX code: DAL Website www.dalaroometals.com.au

Company Information

The Company was incorporated and registered under the Corporations Act 2001 in Western Australia.

The Company is domiciled in Australia.

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DALAROO METALS LTD ABN 23 648 476 699

DIRECTORS’ REPORT

The Directors present their interim report of Dalaroo Metals Ltd ( Dalaroo or the Company ) for the half-year ended 31 December 2025.

DIRECTORS

The following persons were Directors of Dalaroo during the whole of the period and up to the date of this report, (unless otherwise stated):

Bilal Ahmad Non-Executive Director Joshua Gordon Non-Executive Director Tim Wither Non-Executive Director appointed 25 Nov 2025 David Quinlivan Non-Executive Chair resigned 25 Nov 2025

CHIEF EXECUTIVE OFFICER

John Morgan appointed 24 November 2025

COMPANY SECRETARY

Jay Stephenson

REVIEW OF OPERATIONS

During the half-year ended 31 December 2025, Dalaroo Metals Limited advanced exploration activities across its Greenland and Côte d’Ivoire project portfolios and expanded its asset base through project acquisitions and field-based exploration programs. Activities during the period focused on establishing exploration datasets, progressing project evaluations and preparing priority targets for follow-up work programs.

Blue Lagoon Project – Greenland

During the period, the Company completed the acquisition of the Blue Lagoon Project in southern Greenland. Following completion of the acquisition, Dalaroo undertook its initial field exploration program at the project, including geological mapping, sediment sampling and shallow auger drilling. The program was designed to establish baseline geological data and identify areas of heavy mineral concentration within the project area.

Samples collected during the field season were submitted for laboratory analysis, with results received subsequent to the field program supporting continuation of exploration activities. Work completed during the half year identified priority areas for follow-up exploration, with additional field programs planned for the next field season.

Côte d’Ivoire Gold Projects

During the reporting period, Dalaroo progressed its exploration activities in Côte d’Ivoire through project acquisition, geological evaluation and preparation for field exploration programs. Work undertaken included completion of due diligence activities, compilation and interpretation of

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DALAROO METALS LTD ABN 23 648 476 699

DIRECTORS’ REPORT

geological datasets and development of initial exploration targets across the Company’s project areas.

An in-country exploration presence was established during the period to support ongoing activities, including logistical preparation and planning for geological mapping and drill targeting programs.

Subsequent to the reporting period, field mapping and drill targeting activities commenced at the Bongouanoa Gold Project, with geological and structural mapping undertaken to define priority targets for future drilling programs. Community engagement and site access activities were also completed to support ongoing exploration.

In February 2026, the Company executed an agreement to acquire an interest in the Bondoukou (Gold Ridge) Project in Côte d’Ivoire, expanding its West African project portfolio.

Australian Projects

Activities in Australia during the half year were limited to technical review and project assessment. No material field exploration programs were undertaken during the period, with work focused on evaluation of existing datasets and planning of future exploration priorities.

Corporate Activities

During the half-year ended 31 December 2025, the Company implemented changes to its Board and executive leadership.

Mr John Morgan was appointed Chief Executive Officer during the period and assumed responsibility for management of the Company’s exploration and corporate activities.

Mr Tim Wither was appointed as a Director following the resignation of Mr David Quinlivan during the half year.

Subsequent to the reporting period, Mr Greg Barnes was appointed as Special Advisor to assist the Company in relation to its West African exploration activities.

The Company also commenced steps toward obtaining an over-the-counter (OTC) market quotation in the United States.

SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS

There have been no significant changes in the state of affairs of the Company during or since the end of the financial period.

5

DIRECTORS’ REPORT

DALAROO METALS LTD ABN 23 648 476 699

MATTERS SUBSEQUENT TO THE END OF THE FINANCIAL PERIOD

Subsequent to 31 December 2025, the following events occurred.

On 7 January 2026, the Company announced that it had completed the acquisition of a 100% interest in the Blue Lagoon Project located in south-west Greenland.

On 28 January 2026, the Company issued 1,088,500 fully paid ordinary shares following the exercise of options at an exercise price of $0.036 per option.

On 11 February 2026, the Company announced the appointment of Mr Greg Barnes as Special Advisor to provide technical and strategic advisory services in relation to the Company’s West African exploration activities.

On 25 February 2026, the Company announced that it had entered into an agreement to acquire an interest in the Bondoukou (Gold Ridge) Project located in Côte d’Ivoire. Completion of the acquisition remains subject to the terms and conditions contained within the agreement and the satisfaction of customary completion conditions.

On 27 February 2026, the Company held a general meeting at which the resolution to amend the terms of certain options was approved. The Company intends to apply for quotation of these options.

Since the end of the period, the Company commenced preparatory steps toward obtaining an overthe-counter (OTC) market quotation in the United States.

Other than the matters disclosed above, no matters or circumstances have arisen since 31 December 2025 that have significantly affected, or may significantly affect, the Company’s operations, the results of those operations, or the state of affairs of the Company in future financial periods.

AUDITOR’S INDEPENDENCE DECLARATION

A copy of the Auditor’s Independence Declaration as required under Section 307C of the Corporations Act is set out on the page 8.

This report is made in accordance with a resolution of the Directors.

DATED at Perth this 13 day of March 2026.

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Bilal Ahmad Non-Executive Director

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DALAROO METALS LTD ABN 23 648 476 699

DIRECTORS’ REPORT

FORWARD-LOOKING INFORMATION

This report may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning the planned exploration program and other statements that are not historical facts. When used in this report, the words "could", "plan", "estimate", "expect", "intend", "should" and similar expressions are forward-looking statements. Although Dalaroo believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.

CAUTIONARY NOTE

The statements and information contained in this report are not investment or financial product advice and are not intended to be used by persons in deciding to make an investment decision. In releasing this report, Dalaroo has not considered the objectives, financial position or requirements of any particular recipient. Accordingly, potential investors should obtain financial advice from a qualified financial advisor prior to making an investment decision.

NO NEW INFORMATION

Except where explicitly stated, this report contains references to prior exploration results, all of which have been cross-referenced to previous market announcements made by the Company. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements.

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To the Board of Directors

AUDITOR’S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001

As lead audit Director for the review of the financial statements of Dalaroo Metals Limited for the half year ended 31 December 2025, I declare that to the best of my knowledge and belief, there have been no contraventions of:

• the auditor independence requirements of the Corporations Act 2001 in relation to the review; and

• any applicable code of professional conduct in relation to the review.

Yours Faithfully,

HALL CHADWICK WA AUDIT PTY LTD

CHRIS NICOLOFF FCA Director

Dated this 13[th] day of March 2026 Perth, Western Australia

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DALAROO METALS LTD ABN 23 648 476 699

CONDENSED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE HALF-YEAR ENDED 31 DECEMBER 2025

Note
	Half Year to 31 December 2025 $ Half Year to 31 December 2024 $
Other income 10 Total income Expenses Staff costs and director fees 11 Professional Fees Marketing and promotion Finance costs Depreciation Administration and Other expenses Share Based Payments 12 Exploration costs expensed Loss before income tax Income tax benefit/(expense) Loss for the half year Other comprehensive income Total comprehensive loss for the half year Loss per share Basic and diluted loss per share (cents)	2,410 30,365
	2,410 30,365 (318,812) (347,934) (116,789) (29,770) (109) (1,086) (1,582) (123) (35,881) (6,453) (325,961) (144,755) (264,219) (44,311) (212,867) (330,295)
	(1,273,811) (874,362) - -
	(1,273,811) (874,362)
	- -
	(1,273,811) (874,362)
	(0.46) (1.21)

The above condensed statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes.

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DALAROO METALS LTD ABN 23 648 476 699

CONDENSED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025

Note
	Half year as at 31 December 2025 $ Full year as at 30 June 2025 $
Current assets Cash and cash equivalents 5 Trade and other receivables Prepayments Total current assets Non-current assets Property, Plant & equipment Right of use assets Exploration & Evaluation Assets 6 Total non-current assets Total assets Current liabilities Trade and Other payables 7(a) Lease liabilities Employee Benefits Provision 7(b) Total current liabilities Non-current liabilities Lease liabilities Total non-current liabilities Total liabilities Net assets Equity Issued capital 8 Accumulated losses 9 Reserves Total equity	1,555,266 454,826 46,497 20,372 45,688 12,550
	1,647,451 487,748
	21,990 27,023 38,950 68,162 777,623 400,123
	838,563 495,308
	2,486,013 983,056
	88,379 74,203 40,686 60,579 1,812 3,405
	130,877 138,187
	- 9,225
	- 9,225
	130,877 147,412
	2,355,136 835,644
	12,258,937 9,709,455 (10,503,497) (9,330,706) 599,696 456,895
	2,355,136 835,644

The above statement of condensed financial position should be read in conjunction with the accompanying notes.

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DALAROO METALS LTD ABN 23 648 476 699

CONDENSED STATEMENT OF CHANGES IN EQUITY FOR THE HALF-YEAR ENDED 31 DECEMBER 2025

	Issued Capital $ Accumulated Losses $ Reserves $ Total $
2024 Balance at 1 July 2024 Comprehensive Income: Loss for the period Shares issued (net of costs) Expiry of performance rights Share based payments Balance at 31 December 2024 2025 Balance at 1 July 2025 Comprehensive Income: Loss for the period Shares issued (net of costs) Expiry of performance rights Exercise of performance rights Issue of performance rights Issue of options Balance at 31 December 2025	7,311,816 (6,760,964) 228,448 779,300 - (875,722) - (875,722) 2,451,880 - - 2,451,880 - 158,156 (158,156) - - - 44,311 44,311
	9,763,696 (7,478,530) 114,603 2,399,769
	9,709,455 (9,330,706) 456,895 835,644 (1,273,811) (1,273,811) 2,549,482 2,549,482 101,018 (101,018) - (20,400) (20,400) 36,092 36,092 228,127 228,127
	12,258,937 (10,503,497) 599,696 2,355,136

The above statement of condensed changes in equity should be read in conjunction with the accompanying notes.

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DALAROO METALS LTD ABN 23 648 476 699

CONDENSED STATEMENT OF CASH FLOWS FOR THE HALF-YEAR ENDED 31 DECEMBER 2025

Note
	Half Year to 31 December 2025 $ Half Year to 31 December 2024 $
Cash flows from operating activities Interest received Funds from Government Grants Payments to suppliers and employees (corporate) Payments to suppliers and employees (exploration) Net cash flows used in operating activities Cash flows from investing activities Payments for property, plant and equipment Acquisition of exploration & evaluation asset Net cash flows used in investing activities Cash flows from financing activities Proceeds from the issue of shares and options Payments for share issue costs Payment of lease liabilities Net cash flows from financing activities Net increase in cash held Cash at the beginning of the period 5 Effect of movement in exchange rates Cash at the end of the period 5	2,410 7,339 - 23,026 (672,824) (521,525) (350,134) (769,000)
	(1,020,548) (1,260,160)
	(1,635) (2,180) (377,500) -
	(379,135) (2,180)
	2,630,050 2,451,400 (100,968) (198,120) (29,117) -
	2,499,965 2,253,280
	1,100,281 990,940
	454,826 409,236
	159
	1,555,266 1,400,176

The above statement of condensed cash flows should be read in conjunction with the accompanying notes.

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DALAROO METALS LTD ABN 23 648 476 699

NOTES TO THE FINANCIAL STATEMENTS

Note 1 Basis of preparation of half-year report

Statement of compliance

The half-year financial report is a general purpose financial report prepared in accordance with the Corporations Act 2001 and AASB 134 Interim Financial Reporting . Compliance with AASB 134 ensures compliance with International Financial Reporting Standard IAS 34 Interim Financial Reporting . The half-year report does not include notes of the type normally included in an annual financial report and shall be read in conjunction with the 30 June 2025 annual financial statements.

The Company is a for-profit entity for financial reporting purposes under Australian Accounting Standards.

The half-year financial report was approved by the Board of Directors on 13 March 2026.

Basis of preparation

The financial statements have been prepared on the basis of historical cost, except for the revaluation of certain non-current assets and financial instruments. Cost is based on the fair values of the consideration given in exchange for assets. All amounts are presented in Australian dollars, unless otherwise noted.

The accounting policies and methods of computation are consistent with those previously disclosed in the 30 June 2025 annual financial statements, except for the new accounting policies adopted by the Company during the period, as disclosed below:

Fair Value

A number of the company’s accounting policies and disclosures require the determination of fair value, for both financial and non-financial assets and liabilities. Fair values have been determined for measurement and/or disclosure purposes based on the following methods:

Investments in equity securities

The fair value of financial assets at fair value through profit or loss, is determined by reference to their quoted bid price at the reporting date. For investments with no active market, fair value is determined using valuation techniques. Such techniques include using recent arm’s length market transactions, reference to the current market value of another instrument that is substantially the same, discounted cash flow analysis and option pricing models.

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DALAROO METALS LTD ABN 23 648 476 699

NOTES TO THE FINANCIAL STATEMENTS

Note 1 Basis of preparation of half-year report (continued)

Going concern basis for preparation of financial statements

This half-year interim financial report has been prepared on a going concern basis, which contemplates continuity of normal business activities and the realisation of assets and settlement of liabilities in the ordinary course of business. During the half-year ended 31 December 2025, the Company incurred a net loss after tax of $1,273,811 (2024 loss: $874,362), had cash flows used in operating activities of $1,020,548 (2024: $1,260,160) and net working capital surplus of $1,516,574 (at 30 June 2024: net working capital surplus of $349,561. The Directors have considered the funding and operational status of the business in arriving at their assessment of going concern and believe that the going concern basis of preparation is appropriate based upon:

• The Company’s ability to raise funds from external sources to meet ongoing working and investing capital requirements; and

• The Company’s ability to manage the timing of cash flows to meet the committed obligations of the business as and when they fall due.

Should the Company be unable to raise the amount of funding at the levels required from both external sources as well as the disposal of its liquid investments, there is a material uncertainty that the Company will be able to continue as a going concern, and therefore whether it will be able to realise its assets and extinguish its liabilities other than in the normal course of business and at amounts stated in the financial report. The financial report does not include any adjustments relating to the recoverability or classification of recorded asset amounts, nor the amounts or classification of liabilities that might be necessary should the Company not be able to continue as a going concern.

New Accounting Standards and Interpretations on issue not yet applicable

The Directors have not early adopted any new Accounting Standard or Interpretation currently on issue but not yet applicable to the Company.

Note 2 Segment information

The Company has identified its operating segments based on the internal reports that are reviewed and used by the Board of Directors in assessing performance and determining the allocation of resources. Reportable segments disclosed are based on aggregating operating segments, where the segments have similar characteristics. The Company’s sole activity is mineral exploration and resource development within Australia, Cote D’lvoire and Greenland.

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DALAROO METALS LTD ABN 23 648 476 699

NOTES TO THE FINANCIAL STATEMENTS

31 December 2025

	Australia	Cote D’lvoire	Greenland	Group
	$	$	$	$
Total Current Assets	1,647,451	-	-	1,647,451
Total Non-current Assets	461,063	77,500	300,000	838,563
Total Assets	2,108,513	77,500	300,000	2,486,013
Total Liabilities	130,877	-	-	130,877
Net Assets/(Liabilities)	1,977,636	77,500	300,000	2,355,136
Income	2,410	-	-	2,410
Expenses	(1,276,220)	-	-	(1,276,220)
Loss before income tax	(1,273,811)	-	-	(1,273,811)

30 June 2025

	Australia	Cote D’lvoire	Greenland	Group
	$	$	$	$
Total Current Assets	487,748	-	-	487,748
Total Non-current Assets	495,308	-	-	495,308
Total Assets	983,056	-	-	983,056
Total Liabilities	147,412	-	-	147,412
Net Assets/(Liabilities)	835,644	-	-	835,644
Income	35,418	-	-	35,418
Expenses	(2,340,288)	(156,821)	(230,789)	(2,727,898)
Loss before income tax	(2,304,870)	(156,821)	(230,789)	(2,692,480)

Note 3 Dividends

No dividends were paid or proposed during the period. The Company has no franking credits available as at 31 December 2025.

Note 4 Commitments and Contingencies

• (i) Contingent assets and liabilities - There has been no change in contingent assets and liabilities since the last annual reporting date.

• (ii) Commitments - There have been no changes in commitments since the last annual reporting date.

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DALAROO METALS LTD ABN 23 648 476 699

NOTES TO THE FINANCIAL STATEMENTS

Note 5 Current Assets - Cash and Cash Equivalents

	31 December 2025 $ 30 June 2025 $
Cash at bank and on hand	1,555,266 454,826 1,555,266 454,826

Note 6 Exploration and Evaluation Assets

	31 December 2025 $ 30 June 2025 $
Opening balance at start of financial period Acquisition of projects during the period Impairment due to relinquishment of tenements Closing balance at end of financial period Note 7 Current Liabilities	400,123 971,759 377,500 - - (571,636) 777,623 400,123
	31 December 2025 $ 30 June 2025 $
(a) Trade and Other payables Trade payables Other payables Other payables – related parties (b) Employee Benefits Provisions Annual leave provision_(current)_	53,377 61,797 35,002 12,406 - -
	88,379 74,203
	1,812 3,405 1,812 3,405

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DALAROO METALS LTD ABN 23 648 476 699

NOTES TO THE FINANCIAL STATEMENTS

Note 8 Issued Capital

	31 December 2025	31 December 2025	30 June	2025
	No.	$	No.	$
a) Share capital
Issued share capital	330,201,545	12,258,938	256,951,923	9,709,455
b) Share movements during the period
Balance at the start of the financial
period	256,951,923	9,709,455	82,750,000	7,311,816
Shares issued on placement	73,249,622	2,650,450	165,625,000	2,650,000
Shares issued for Rimbal project			576,923	15,000
Shares issued (escrow) on exercise of
performance rights			8,000,000	144,000
Less share issue costs		(100,498)	-	(411,361)
Balance at end of financialperiod	330,201,545	12,258,937	256,951,923	9,709,455

Note 9 Reserves

Options

	31 December 2025 $ 30 June 2025 $
a) Options Opening balance at start of year Options issued Expired during the period Closing balance b) Performance Rights Opening balance at start of year Performance Rights issued Expiry of performance rights Performance rights exercised Closing balance Total as at end of financial period	335,477 5,000 228,127 335,477 - (5,000)
	563,604 335,477
	121,418 228,448 36,092 199,503 (101,018) (162,533) (20,400) (144,000)
	36,092 121,418
	599,696 456,895

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DALAROO METALS LTD ABN 23 648 476 699

NOTES TO THE FINANCIAL STATEMENTS

Movements in the number of options and performance rights on issue during the year are as follows:

	31 December 2025 30 June 2025
	No $ No $
Options on issue at the start of the financial period Options issued Options expired during the period Options exercised during the period Options on issue at the end of the financial period	196,187,500 335,477 27,375,000 5,000 62,969,686 228,127 188,187,500 335,477 (16,268,560) - (19,375,000) (5,000) (6,004,167) - - -
	246,884,459 563,604 196,187,500 335,477

Performance Rights

At the date of this report 35,500,000 performance rights have been issued pursuant to the terms and conditions of the Employee Securities Incentive Plan. The vesting conditions for each of the class of performance rights is detailed below:

Class		Key Vesting conditions
11	20,000,000	The 20 Day volume weighted average price of Shares, calculated over consecutive days in which the Shares have traded (VWAP) being equal to or greater than $0.10.
12	8,000,000	(Class 1): The 20 Day volume weighted average price of Shares, calculated over consecutive days in which the Shares have traded (VWAP) being equal to or greater than $0.10. (Class 2): The 20 Day volume weighted average price of Shares, calculated over consecutive days in which the Shares have traded (VWAP) being equal to or greater than $0.10 and achievement of the maiden drilling program in Côte d’Ivoire. (Class 3): The 20 Day volume weighted average price of Shares, calculated over consecutive days in which the Shares have traded (VWAP) being equal to or greater than $0.10 and achievement of a 300,000 oz resource at any project in Côte d’Ivoire.
13	7,500,000	(Class 1): Executive completing 12 months of continuous service and the 20 Day volume weighted average price of Shares, calculated over consecutive days in which the Shares have traded (VWAP) being equal to or greater than a 100% premium to the closing share price of the Company on the trading day immediately prior to execution of this Agreement. (Class 2): Executive completing 12 months of continuous service and the 20 Day volume weighted average price of Shares, calculated over consecutive days in which the Shares have traded (VWAP) being equal to or greater than a 200% premium to the closing share price of the Company on the trading day immediately prior to execution of this Agreement. (Class 3): Executive completing 24 months of continuous service

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DALAROO METALS LTD ABN 23 648 476 699

NOTES TO THE FINANCIAL STATEMENTS

Movements in the number of performance rights on issue during the financial period are as follows:

	31 December 2025 30 June 2025 No $ No $
Performance rights on issue at the start of the financial period Performance rights issued Performance rights expired Performance rights exercised Performance rights on issue at the end of the financial period	8,668,560 121,418 3,900,000 228,448 35,500,000 36,092 22,919,810 199,503 (8,268,560) (101,018) (10,151,250) (162,533) (400,000) (20,400) (8,000,000) (144,000)
	35,500,000 36,092 8,668,560 121,418

The Incentive Performance Rights to be issued to the Key Management Personnel were independently valued, using the Parisian Barrier Model option pricing model and based on the assumptions set out below, the Incentive Performance Rights were ascribed the following value:

The Incentive Performance Rights to be issued to the Key Management Personnel were independently valued, using the Parisian Barrier Model option pricing model and based on the assumptions set out below, the Incentive Performance Rights were ascribed the following value:

Classes 11

Input
Number of Performance Rights	20,000,000
Assumed Share Price at Grant Date (25 November 2025)	$0.039
Performance Milestones	The 20 Day volume weighted average price of Shares, calculated over consecutive days in which the Shares have traded (VWAP) being equal to or greater than $0.10.
Expiry Date	12 December 2028
Dividend Yield	Nil
Volatility	100%
Risk-free interest rate	3.74% per annum
Estimated value per Performance Right	$0.0397
Total value of Performance Rights	$608,245

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DALAROO METALS LTD ABN 23 648 476 699

NOTES TO THE FINANCIAL STATEMENTS

Classes 12

Input
Number of Performance Rights	8,000,000
Assumed Share Price at Grant Date (25 November 2025)	$0.048
Performance Milestones	(Class 1): The 20 Day volume weighted average price of Shares, calculated over consecutive days in which the Shares have traded (VWAP) being equal to or greater than $0.10. (Class 2): The 20 Day volume weighted average price of Shares, calculated over consecutive days in which the Shares have traded (VWAP) being equal to or greater than $0.10 and achievement of the maiden drilling program in Côte d’Ivoire. (Class 3): The 20 Day volume weighted average price of Shares, calculated over consecutive days in which the Shares have traded (VWAP) being equal to or greater than $0.10 and achievement of a 300,000 oz resource at any project in Côte d’Ivoire.
Vesting Period	N/A
Expiry Date	12 December 2028
Dividend Yield	Nil
Volatility	100%
Risk-free interest rate	4.12% per annum
Estimated value per Performance Right	(Class 1): $0.0397 (Class 2): $0.0397 (Class 3): $0.0397
Total value of Performance Rights	$317,329

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DALAROO METALS LTD ABN 23 648 476 699

NOTES TO THE FINANCIAL STATEMENTS

Classes 13

Input
Number of Performance Rights	7,500,000
Assumed Share Price at Grant Date (25 November 2025)	$0.048
Performance Milestones	(Class 1): Executive completing 12 months of continuous service and the 20 Day volume weighted average price of Shares, calculated over consecutive days in which the Shares have traded (VWAP) being equal to or greater than a 100% premium to the closing share price of the Company on the trading day immediately prior to execution of this Agreement. (Class 2): Executive completing 12 months of continuous service and the 20 Day volume weighted average price of Shares, calculated over consecutive days in which the Shares have traded (VWAP) being equal to or greater than a 200% premium to the closing share price of the Company on the trading day immediately prior to execution of this Agreement. (Class 3): Executive completing 24 months of continuous service
Vesting Period	1 Year
Expiry Date	12 December 2028
Dividend Yield	Nil
Volatility	100%
Risk-free interest rate	4.12% per annum
Estimated value per Performance Right	(Class 1): $0.0337 (Class 2): $0.0326 (Class 3): $0.0339
Total value of Performance Rights	$250,500

Note 10 Other Income

	31 December 2025 $ 31 December 2024 $
Interest Income Government grant income Total Other Income	2,410 7,339 - 23,026
	2,410 30,365

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DALAROO METALS LTD ABN 23 648 476 699

NOTES TO THE FINANCIAL STATEMENTS

Note 11 Staff Costs and Directors’ Fees

	31 December 2025 $ 31 December 2024 $
Salaries and wages (including superannuation) Directors’ fees (including superannuation) Employee leave benefits expense Total Staff Costs and Directors’ Fees	243,322 82,477 77,083 259,982 (1,594) 5,475
	318,812 347,934

Note 12 Share Based Payments

	31 December 2025 $ 31 December 2024 $
Options issued Performance Rights issued Total Share Based Payments	228,127 - 36,092 44,311
	264,219 44,311

Note 13 Events Occurring After the Balance Sheet Date

Subsequent to 31 December 2025, the following events occurred.

On 7 January 2026, the Company announced that it had completed the acquisition of a 100% interest in the Blue Lagoon Project located in south-west Greenland.

On 28 January 2026, the Company issued 1,088,500 fully paid ordinary shares following the exercise of options at an exercise price of $0.036 per option.

On 11 February 2026, the Company announced the appointment of Mr Greg Barnes as Special Advisor to provide technical and strategic advisory services in relation to the Company’s West African exploration activities.

On 25 February 2026, the Company announced that it had entered into an agreement to acquire an interest in the Bondoukou (Gold Ridge) Project located in Côte d’Ivoire. Completion of the acquisition remains subject to the terms and conditions contained within the agreement and the satisfaction of customary completion conditions.

On 27 February 2026, the Company held a general meeting at which the resolution to amend the terms of certain options was approved. The Company intends to apply for quotation of these options.

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DALAROO METALS LTD ABN 23 648 476 699

NOTES TO THE FINANCIAL STATEMENTS

Since the end of the period, the Company commenced preparatory steps toward obtaining an over-the-counter (OTC) market quotation in the United States.

Other than the matters disclosed above, no matters or circumstances have arisen since 31 December 2025 that have significantly affected, or may significantly affect, the Company’s operations, the results of those operations, or the state of affairs of the Company in future financial periods.

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DALAROO METALS LTD ABN 23 648 476 699

DIRECTOR’S DECLARATION

The directors of Dalaroo Metals Ltd (“the Company”) declare that:

• (a) the interim financial statements and notes set out on pages 13 to 23 are in accordance with the Corporations Act 2001, including:

• (i) complying with Australian Accounting Standard AASB 134 – Interim Financial Reporting , and the Corporations Regulations 2001; and

• (ii) give a true and fair view of the financial position as at 31 December 2025 and of the performance for the period ended on that date of the Company.

• (b) there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the Directors.

Signed at Perth this 13[th] day of March 2026.

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Bilal Ahmad Non-Executive Director

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INDEPENDENT AUDITOR’S REVIEW REPORT TO THE MEMBERS OF DALAROO METALS LIMITED

Conclusion

We have reviewed the accompanying half-year financial report of Dalaroo Metals Limited (“the Company”) which comprises the statement of financial position as at 31 December 2025, the condensed statement of profit or loss and other comprehensive income, condensed statement of changes in equity and condensed statement of cash flows for the half-year ended on that date, a summary of material accounting policies and other selected explanatory notes, and the directors’ declaration.

Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the half-year financial report of Dalaroo Metals Limited does not comply with the Corporations Act 2001 including:

• a. Giving a true and fair view of the Company’s financial position as at 31 December 2025 and of its performance for the half-year ended on that date; and

• b. Complying with Accounting Standard AASB 134: Interim Financial Reporting and Corporations Regulations 2001 .

Basis for Conclusion

We conducted our review in accordance with ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity. Our responsibilities are further described in the Auditor’s Responsibilities for the Review of the Financial Report section of our report. We are independent of the Company in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants that are relevant to our audit of the annual 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 review report.

Material Uncertainty Related to Going Concern

We draw attention to Note 1 in the financial report, which indicates that the Company incurred a net loss of $1,273,811 during the half year ended 31 December 2025. As stated in Note 1, these events or conditions, along with other matters as set forth in Note 1, indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern. Our conclusion is not modified in respect of this matter.

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Responsibility of the Directors for the Financial Report

The directors of the Company are responsible for the preparation of the half-year financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such control as the directors determine is necessary to enable the preparation of the half-year financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility for the Review of the Financial Report

Our responsibility is to express a conclusion on the half-year financial report based on our review. ASRE 2410 requires us to conclude whether we have become aware of any matter that makes us believe that the half-year financial report is not in accordance with the Corporations Act 2001 including giving a true and fair view of the Company’s financial position as at 31 December 2025 and its performance for the halfyear ended on that date, and complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001 .

A review of a half-year financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

HALL CHADWICK WA AUDIT PTY LTD

CHRIS NICOLOFF FCA Director

Dated this 13[th] day of March 2026 Perth, Western Australia

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