ITECH MINERALS LTD — Interim / Quarterly Report 2026

Feb 26, 2026

ACN: 648 219 050

==> picture [101 x 47] intentionally omitted <==

CONTENTS

CONTENTS ................................................................................................................................................. 1 DIRECTORS’ REPORT ............................................................................................................................... 2 AUDITOR’S INDEPENDENCE DECLARATION ......................................................................................... 3 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME ....... 4 CONSOLIDATED STATEMENT OF FINANCIAL POSITION ..................................................................... 5 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ...................................................................... 6 CONSOLIDATED STATEMENT OF CASH FLOWS ................................................................................... 7 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ................................................................ 8 DIRECTORS’ DECLARATION .................................................................................................................. 12 INDEPENDENT AUDIT REPORT.............................................................................................................. 13

This Interim Report covers iTech Minerals Ltd (“iTech” or the “Company”) as a Group consisting of iTech Minerals Ltd and its subsidiaries, collectively referred to as the “Group”. The financial report is presented in the Australian currency.

iTech is a company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is:

1/54 Maple Avenue FORESTVILLE, SA 5035

1

ACN: 648 219 050

==> picture [101 x 47] intentionally omitted <==

==> picture [99 x 67] intentionally omitted <==

DIRECTORS’ REPORT

iTech Minerals Ltd ( iTech or Company ) Directors present their Report together with the financial statements of the consolidated entity, being iTech Minerals Ltd (“iTech” or “the Company”) and its controlled entities (“the Group”) for the half year ended 31 December 2025 and the Independent Review Report thereon.

DIRECTORS

The names of the directors in office at any time during the reporting period and since the end of the period are:

Glenn Davis Michael Schwarz Gary Ferris

REVIEW OF OPERATIONS AND FINANCIAL RESULTS

iTech Minerals Ltd holds exploration projects primarily comprising tenements in highly prospective geology primarily for lithium, gold, copper and antimony in the Northern Territory and battery materials (graphite and lithium), with graphite in South Australia.

In the half year to 31 December 2025, the Group progressed mineral exploration on its assets primarily prospective for lithium, copper, gold, antimony and graphite.

The profit of the Group, from the six months to 31 December 2025 was $1,698,230 (2024: loss $628,295). The main factors contributing to the increased profit was an increase in other income of $1,798,500 related to the lithium farm-in by SQM and lower employee benefits expense of $391,113 resulting from a reversal in share based payments expense on forfeiture of performance rights. The profit was further increased by a reduced loss on write down of financial instruments of $60,000 (prior year write down in excess of reserve), impairment reduction of $32,004 and lower administrative expenditure of 49,272.

A copy of the auditor’s independence declaration as required under s307C of the Corporations Act 2001 (Cth) is included on page 3 of this financial report and forms part of this Directors’ Report.

Signed in accordance with a resolution of the directors.

Michael Schwarz Managing Director

Adelaide 27 February 2026

2

ACN: 648 219 050

==> picture [101 x 47] intentionally omitted <==

AUDITOR’S INDEPENDENCE DECLARATION

==> picture [479 x 677] intentionally omitted <==

3

ACN: 648 219 050

==> picture [101 x 47] intentionally omitted <==

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the half year ended 31 December 2025

Notes Interest income Other income Broker and investor relations Employee benefits / (expense) including reversal of forfeited share-based payments Exploration expense Impairment of exploration expenditure Depreciation Other expenses Profit / (loss) before tax Income tax (expense) / benefit Loss for the period from continuing operations attributable to owners of the parent Fair value movement in financial assets (net of tax) Total Comprehensive loss for the period attributable to owners of the parent Earnings Per Share from Continuing Operations Basic profit / (loss) – cents per share 2 Diluted profit / (loss) – cents per share 2	31 December 2025 $ 31 December 2024 $ 70,758 75,352 1,901,000 102,500 (60,000) (60,000) 108,652 (282,461) (610) (740) - (32,004) (89,531) (89,480) (232,039) (341,462)
	1,698,230 (628,295) - -
	1,698,230 (628,295) - (120,000)
	1,698,230 (748,295)
	0.81 (0.39) 0.77 (0.39)

This statement should be read in conjunction with the notes to the financial statements.

4

ACN: 648 219 050

==> picture [101 x 47] intentionally omitted <==

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 31 December 2025

Notes ASSETS Current assets Cash and cash equivalents Trade and other receivables Other current assets Total current assets Non-current assets Exploration and evaluation expenditure 3 Plant and equipment Restricted cash Right of use lease asset Other non-current assets Total non-current assets TOTAL ASSETS LIABILITIES Current liabilities Trade and other payables Employee provisions Lease liability Total current liabilities Non-current liabilities Lease liability Employee provisions Total non-current liabilities TOTAL LIABILITIES NET ASSETS EQUITY Issued capital 4 Reserves Accumulated losses TOTAL EQUITY	31 December 2025 $ 30 June 2025 $ 5,100,907 1,701,876 117,862 185,496 14,208 62,202
	5,232,977 1,949,574
	21,595,685 20,323,598 307,446 195,567 110,364 95,614 211,113 15,316 91,565 71,015
	22,316,173 20,701,110
	27,549,150 22,650,684
	320,938 253,483 61,668 72,411 79,853 16,493
	462,459 342,387
	136,300 - 41,575 27,487
	177,875 27,487
	640,334 369,874
	26,908,816 22,280,810
	29,527,562 26,324,666 100,275 373,395 (2,719,021) (4,417,251)
	26,908,816 22,280,810

This statement should be read in conjunction with the notes to the financial statements.

5

ACN: 648 219 050

==> picture [101 x 47] intentionally omitted <==

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY For the half year ended 31 December 2025

2025
		Share	Share based	Accumulated		Total
		capital	payment	losses		equity
			Reserves
		$	$	$		$
Balance at 1 July 2025		26,324,666	373,395	(4,417,251)		22,280,810
Placement shares		2,000,000	-		-	2,000,000
SPP shares		1,402,500	-		-	1,402,500
Share issue expenses		(199,604)	-		-	(199,604)
Fair value of employee performance rights issued		-	115,366		-	115,366
Fair value of employee performance rights forfeited		-	(388,486)		-	(388,486)
Transactions with owners		3,202,896	(273,120)		-	2,929,776
Comprehensive income:
Total profit or (loss) for the reporting period		-	-	1,698,230		1,698,230
Total other comprehensive income for the reporting	period	-	-		-	-
Balance 31 December 2025		29,527,562	100,275	(2,719,021)		26,908,816
2024
	Share	Financial	Share based	Accumulated		Total
	capital	assets	payment	losses		equity
		Reserve	Reserves
	$	$	$	$		$
Balance at 1 July 2024	23,148,053	120,000	128,278	(3,199,213)		20,197,118
Placement shares	2,335,071	-	-		-	2,335,071
SPP shares	1,105,009	-	-		-	1,105,009
Share issue expenses	(295,870)	-	78,139		-	(217,731)
Fair value of employee performance rights	-	-	106,239		-	106,239
Transactions with owners	3,144,210	-	184,378		-	3,328,588
Comprehensive income:
Total profit or (loss) for the reporting period	-	-	-	(628,295)		(628,295)
Total other comprehensive income for the reporting period	-	(120,000)	-		-	(120,000)
Balance 31 December 2024	26,292,263	-	312,656	(3,827,508)		22,777,411

This statement should be read in conjunction with the notes to the financial statements.

6

ACN: 648 219 050

==> picture [101 x 47] intentionally omitted <==

CONSOLIDATED STATEMENT OF CASH FLOWS

For the period ended 31 December 2025

Operating activities Interest received Other receipts – tenement farm-in Other deposits Payments to suppliers and employees Payments for expensed exploration expenditure R&D refundable tax offset received Net cash from / (used in) operating activities Investing activities Payments for capitalised exploration expenditure Payments for plant and equipment Increase in term deposits Net cash used in investing activities Financing activities Proceeds from issue of shares Share Issue expenses Lease payments Net cash from financing activities Net change in cash and cash equivalents Cash and cash equivalents, beginning of reporting period Cash and cash equivalents, end of period	31 December 2025 $ 31 December 2024 $ 70,140 75,569 1,900,000 100,000 - 2,500 (430,043) (476,298) (610) (740) 162,764 201,881
	1,702,251 (97,088)
	(1,276,903) (1,230,085) (155,641) (39,578) (14,750) (95,614)
	(1,447,294) (1,365,277)
	3,402,500 3,440,080 (199,604) (217,730) (58,822) (19,927)
	3,144,074 3,202,423
	3,399,031 1,740,058
	1,701,876 1,725,570
	5,100,907 3,465,628

This statement should be read in conjunction with the notes to the financial statements.

7

ACN: 648 219 050

==> picture [101 x 47] intentionally omitted <==

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

For the period ended 31 December 2025

1. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES

a) Nature of operations

The Group’s principal activities are the exploration for industrial minerals (graphite, kaolin and halloysite) and battery minerals in South Australia and copper, gold and lithium in the Northern Territory.

b) General information and basis of preparation

The interim consolidated financial statements (the interim financial statements) of the Group are for the six months ended 31 December 2025 and are presented in Australian dollars ($), which is the functional currency of the parent company. These general purpose interim financial statements have been prepared in accordance with the requirements of the Corporations Act 2001 (Cth) and AASB 134 Interim Financial Reporting. They do not include all of the information required in annual financial statements in accordance with AIFRS, and should be read in conjunction with the consolidated financial statements of the Group for the year ended 30 June 2025 and any public announcements made by the Group during the half-year in accordance with the continuous disclosure requirements arising under the Australian Securities Exchange Listing Rules and the Corporations Act 2001 (Cth). The Company is a for profit entity for the purposes of preparing its financial statements.

The interim financial statements have been approved and authorised for issue by the board of directors on 27 February 2026.

c) Significant accounting policies

The Group has adopted all the amendments to the Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board, which are relevant to and effective for the Group's financial statements for the period beginning 1 July 2025. The adoption of all of the relevant new and/or revised Australian Accounting Standards and Interpretations has not resulted in any changes to the Group's accounting policies and has had no effect on either the amounts reported for the current or previous financial years.

d) Critical accounting estimates and judgements

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 of economic data, obtained both externally and within the Group.

i. Key estimates – impairment

• The Group assesses impairment at each reporting date by evaluating conditions specific to the Group that may lead to impairment of assets. Where an impairment trigger exists, the recoverable amount of the asset is determined.

• ii. Key judgements – exploration and evaluation expenditure

The future recoverability of capitalised exploration and evaluation expenditure is dependent on a number of factors, including whether the Group decides to exploit the related lease itself or, if not, whether it successfully recovers the related exploration and evaluation asset through sale.

Factors that could impact the future recoverability include the level of reserves and resources, future technological changes, which could impact the cost of mining, future legal changes (including changes to environmental restoration obligations) and changes to commodity prices.

To the extent that capitalised exploration and evaluation expenditure is determined not to be recoverable in the future, profits and net assets will be reduced in the period in which this determination is made.

In addition, exploration and evaluation expenditure is capitalised if activities in the area of interest have not yet reached a stage that permits a reasonable assessment of the existence or otherwise of economically recoverable reserves. To the extent it is determined in the future that this capitalised expenditure should be written off, profits and net assets will be reduced in the period in which this determination is made.

• iii. Share-based payment transactions

The Group measures the cost of equity-settled transactions with management and other parties by reference to the fair value of the equity instruments at the date at which they are granted. The fair value of share options is determined by the Board of Directors with reference to quoted market prices or using the Black-Scholes valuation method, where required, taking into account the terms and conditions upon which the equity instruments were granted. The fair value of performance rights is calculated using the Company’s share price at the time of issue. The accounting estimates and assumptions relating to equity-settled share-based payments would have no impact on the carrying amounts of assets and liabilities within the next annual reporting period but may impact expenses and equity.

8

ACN: 648 219 050

==> picture [101 x 47] intentionally omitted <==

2. EARNINGS PER SHARE

The weighted average number of shares for the purpose of diluted earnings per share can be reconciled to the weighted average number of ordinary shares used in the calculation of basic earnings per share as follows:

	6 months to	6 months to
	31 December	31 December
	2025	2024
	#	#
Weighted average number of shares used in basic earnings per share	210,405,225	161,504,135
Weighted average number of shares used in diluted earnings per share	219,854,355	161,504,135
Profit / (loss) per share – basic (cents)	0.81	(0.39)
Profit / (loss) per share – diluted (cents)	0.77	(0.39)

There were 12,860,000 options and performance rights (2024: 9,360,000) outstanding at the end of the period. These securities have not been taken into account in calculating diluted EPS in the prior period due to their effect being anti-dilutive.

3. EXPLORATION AND EVALUATION EXPENDITURE

Opening balance Expenditure on exploration during the period CRC-P grant received Project acquisition1 Impairment of exploration expenditure Research and development tax incentive received/receivable Total exploration and evaluation	31 December 2025 $ 30 June 2025 $ 20,323,598 18,283,242 1,390,356 2,397,258 (57,955) (173,865) 50,000 97,181 - (117,454) (110,314) (162,764)
	21,595,685 20,323,598

1 During the year, the Group has acquired EL6634 and EL5920 from ChemX Materials Limited for cash consideration of $50,000.

9

ACN: 648 219 050

==> picture [101 x 47] intentionally omitted <==

4. SHARE CAPITAL

31 December 2025 (a) Issued and paid up capital Fully paid ordinary shares (b) Movements in fully paid shares Balance as at 1 July 2025 Share placements Share purchase plan Capital raising costs Balance as at 31 December 2025 31 December 2024 (a) Issued and paid up capital Fully paid ordinary shares (b) Movements in fully paid shares Balance as at 1 July 2024 Share placements Share purchase plan Capital raising costs Balance as at 31 December 2024	Number of shares 31 December 2025 $ 238,885,388 29,527,562
	238,885,388 29,527,562
	170,835,388 26,324,666 40,000,000 2,000,000 28,050,000 1,402,500 - (199,604)
	238,885,388 29,527,562
	Number of shares 31 December 2024 $ 170,735,388 26,292,263
	170,735,388 26,292,263
	122,283,562 23,148,053 32,888,318 2,335,071 15,563,508 1,105,009 - (295,870)
	170,735,388 26,292,263

10

ACN: 648 219 050

==> picture [101 x 47] intentionally omitted <==

5. OPERATING SEGMENTS

The Directors have considered the requirements of AASB 8 – Operating Segments and the internal reports that are reviewed by the chief operating decision maker (the Board) in allocating resources have concluded that at this time there are no separately identifiable segments.

6. EVENTS ARISING SINCE THE END OF THE REPORTING PERIOD

No matters or circumstances have arisen since the end of the financial period 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 subsequent financial years.

11

ACN: 648 219 050

==> picture [101 x 47] intentionally omitted <==

==> picture [99 x 68] intentionally omitted <==

DIRECTORS’ DECLARATION

In accordance with a resolution of the directors of iTech Minerals Ltd, the Directors of the Company declare that:

• a) the consolidated financial statements and notes of iTech Minerals Ltd are in accordance with the Corporations Act 2001 (Cth), including:

• i. giving a true and fair view of its financial position as at 31 December 2025 and of its performance for the financial period ended on that date; and

• ii. complying with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Regulations 2001 (Cth); and

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

Signed in accordance with a resolution of the Directors:

Michael Schwarz Managing Director

Adelaide 27 February 2026

12

ACN: 648 219 050

==> picture [101 x 47] intentionally omitted <==

INDEPENDENT AUDIT REPORT

==> picture [481 x 680] intentionally omitted <==

13

ACN: 648 219 050

==> picture [101 x 47] intentionally omitted <==

==> picture [482 x 682] intentionally omitted <==

14

==> picture [596 x 71] intentionally omitted <==

----- Start of picture text -----

ACN: 648 219 050
----- End of picture text -----

15