M3 MINING LIMITED — Interim / Quarterly Report 2025

Jan 29, 2025

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M3 Mining Limited ABN 98 644 548 434

Half-Year Financial Report - 31 December 2024

M3 Mining Limited Corporate directory 31 December 2024

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Directors	Russell Davis - Non-Executive Chairman
	Simon Eley - Executive Director
	Ariel Edward (Eddie) King - Non-Executive Director
	Dermot O'Keeffe - Non-Executive Director
Company secretary	Benjamin Donovan
Registered office	Level 4, 225 St Georges Terrace
	Perth WA 6000
Principal place of business	Level 4, 225 St Georges Terrace
	Perth WA 6000
Share register	Automic
	Level 5, 191 St Georges Terrace
	Perth WA 6000 Australia
	P(Australia): 1300 288 664
	P (Overseas): +61 2 9698 5414
	W: www.automic group.com.au
Auditor	William Buck Audit (WA) Pty Ltd
	Level 3, 15 Labouchere Road
	South Perth WA 6151
Solicitors	Noval Legal
	Level 2, 50 Kings Park Road
	West Perth WA 6005
Stock exchange listing	M3 Mining Limited shares are listed on the Australian Securities Exchange (ASX code:
	M3M)
Website	www.m3mining.com.au

1

M3 Mining Limited
Contents
31 December 2024
Directors' report	3
Auditor's independence declaration	4
Consolidated statement of profit or loss and other comprehensive income	5
Consolidated statement of financial position	6
Consolidated statement of changes in equity	7
Consolidated statement of cash flows	8
Notes to the consolidated financial statements	9
Directors' declaration	16
Independent auditor's review report to the members of M3 Mining Limited	17

2

M3 Mining Limited Directors' report 31 December 2024

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The Directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'Group') consisting of M3 Mining Limited (referred to hereafter as the 'Company' or 'parent entity') and the entities it controlled at the end of, or during, the half-year ended 31 December 2024.

Directors

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

Russell Davis - Non-Executive Chairman Simon Eley - Executive Director Ariel Edward King - Non-Executive Director

Dermot O'Keeffe - Non-Executive Director - appointed 29 July 2024

Principal activities

The principal activity of the Group during the course of the financial period was the exploration and evaluation of base and precious mineral resources over two projects being the Victoria Bore and the Edjudina Gold projects.

The Group continues to review new opportunities that are internally generated or presented to the Group. The Group is reviewing a range of commodities in jurisdictions that are familiar with the Group's broader technical team including Australia and overseas and is, at the time of this report, advancing discussions in relation to securing an energy asset in the Middle East North African (MENA) region.

Review of operations

The loss for the Group after providing for income tax amounted to $952,242 (31 December 2023: $1,038,674).

Significant changes in the state of affairs

On 23 July 2024 the Company announced a revision to the tranche 2 placement pricing previously announced on 6 February 2024, 23,974,613 fully paid ordinary shares were issued at $0.045 each raising $1,078,858 (before costs), of which $153,343 was received in advance at 30 June 2024.

4,000,000 unlisted options exercisable at $0.10 on or before 23 July 2025 were issued to the Lead Manager for the capital raise on 23 July 2024.

Mr Dermot O'Keeffe was appointed as Non-Executive Director on 29 July 2024 on a no fee basis until the proposed energy asset is secured.

Matters subsequent to the end of the financial half-year

No matter or circumstance has arisen since 31 December 2024 that has significantly affected, or may significantly affect the Group's operations, the results of those operations, or the Group's state of affairs in future financial years.

Auditor's independence declaration

A copy of the auditor's independence declaration as required under section 307C of the Corporations Act 2001 is set out immediately after this Directors' report.

This report is made in accordance with a resolution of Directors, pursuant to section 306(3)(a) of the Corporations Act 2001.

On behalf of the Directors

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_________ Russell Davis Chairman

30 January 2025

3

Lead Auditor’s Independence Declaration under Section 307C of the Corporations Act 2001

To the directors of M3 Mining Limited

As lead auditor for the review of M3 Mining Limited for the half-year ended 31 December 2024, I declare that, to the best of my knowledge and belief, there have been:

• no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the review; and

• no contraventions of any applicable code of professional conduct in relation to the review.

This declaration is in respect of M3 Mining Limited and the entities it controlled during the period.

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William Buck Audit (WA) Pty Ltd ABN 67 125 012 124

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Conley Manifis Director

Dated this 30[th] day of January 2025

M3 Mining Limited Consolidated statement of profit or loss and other comprehensive income For the half-year ended 31 December 2024

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	Note	31 Dec 2024	31 Dec 2023
		$	$
Revenue
Interest income		40,991	47,145
Expenses
Corporate and administration expenses	5	(215,380)	(235,977)
Employee benefits expense		(90,406)	(168,595)
Depreciation expense		(6,067)	(6,020)
Exploration expenditure incurred and expensed		(333,900)	(350,647)
Project evaluation		(250,125)	(85,714)
Share-basedpayments expense	14	(97,355)	(238,866)
Loss before income tax expense		(952,242)	(1,038,674)
Income tax expense		-	-
Loss after income tax expense for the half-year attributable to the owners of M3
Mining Limited		(952,242)	(1,038,674)
Other comprehensive income for the half-year,net of tax		-	-
Total comprehensive income for the half-year attributable to the owners of M3
Mining Limited		(952,242)	(1,038,674)
		Cents	Cents
Basic loss per share		(1.18)	(2.23)
Diluted loss per share		(1.18)	(2.23)

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

5

M3 Mining Limited Consolidated statement of financial position As at 31 December 2024

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	Note	31 Dec 2024	30 Jun 2024
		$	$
Assets
Current assets
Cash and cash equivalents		1,897,354	1,948,985
Other receivables		19,478	14,670
Other		34,449	45,313
Total current assets		1,951,281	2,008,968
Non-current assets
Plant and equipment	6	22,478	28,219
Exploration and evaluation	7	78,751	78,751
Total non-current assets		101,229	106,970
Total assets		2,052,510	2,115,938
Liabilities
Current liabilities
Trade and other payables		51,406	104,232
Provisions		17,610	21,093
Other liabilities		-	153,343
Total current liabilities		69,016	278,668
Non-current liabilities
Provisions		12,445	12,445
Total non-current liabilities		12,445	12,445
Total liabilities		81,461	291,113
Net assets		1,971,049	1,824,825
Equity
Issued capital	8	7,514,667	6,573,720
Reserves	9	503,016	345,497
Accumulated losses		(6,046,634)	(5,094,392)
Total equity		1,971,049	1,824,825

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

6

M3 Mining Limited Consolidated statement of changes in equity For the half-year ended 31 December 2024

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		Share-based
	Issued	payments	Accumulated
	capital	reserve	losses	Total equity
	$	$	$	$
Balance at 1 July 2023	5,776,711	1,176,398	(4,199,145)	2,753,964
Loss after income tax expense for the half-year	-	-	(1,038,674)	(1,038,674)
Other comprehensive income for the half-year,net of tax	-	-	-	-
Total comprehensive income for the half-year	-	-	(1,038,674)	(1,038,674)
Transactions with owners in their capacity as owners:
Share-basedpayments(note 14)	-	238,866	-	238,866
Balance at 31 December 2023	5,776,711	1,415,264	(5,237,819)	1,954,156
		Share-based
	Issued	payments	Accumulated
	capital	reserve	losses	Total equity
	$	$	$	$
Balance at 1 July 2024	6,573,720	345,497	(5,094,392)	1,824,825
Loss after income tax expense for the half-year	-	-	(952,242)	(952,242)
Other comprehensive income for the half-year,net of tax	-	-	-	-
Total comprehensive income for the half-year	-	-	(952,242)	(952,242)
Transactions with owners in their capacity as owners:
Contributions of equity(note 8)	1,078,858	-	-	1,078,858
Share-based payments (note 9 and note 14)	-	157,519	-	157,519
Capital raisingcosts(note 8)	(137,911)	-	-	(137,911)
Balance at 31 December 2024	7,514,667	503,016	(6,046,634)	1,971,049

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

7

M3 Mining Limited Consolidated statement of cash flows For the half-year ended 31 December 2024

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	Note	31 Dec 2024	31 Dec 2023
		$	$
Cash flows from operating activities
Payments for corporate and administrative activities		(546,789)	(556,006)
Payments for exploration and evaluation activities		(381,873)	(389,880)
		(928,662)	(945,886)
Interest received		29,589	42,018
Net cash used in operatingactivities		(899,073)	(903,868)
Cash flows from investing activities
Payments forproperty, plant and equipment	6	(326)	-
Net cash used in investingactivities		(326)	-
Cash flows from financing activities
Proceeds from issue of shares		925,515	-
Share issue transaction costs		(77,747)	-
Net cash from financingactivities		847,768	-
Net decrease in cash and cash equivalents		(51,631)	(903,868)
Cash and cash equivalents at the beginningof the half-yearperiod		1,948,985	2,837,494
Cash and cash equivalents at the end of the half-yearperiod		1,897,354	1,933,626

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

8

M3 Mining Limited Notes to the consolidated financial statements 31 December 2024

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Note 1. General information

The financial statements cover M3 Mining Limited as a Group consisting of M3 Mining Limited and the entities it controlled at the end of, or during, the half-year. The financial statements are presented in Australian dollars, which is M3 Mining Limited's functional and presentation currency.

M3 Mining Limited is a listed public company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is:

Level 4, 225 St Georges Terrace Perth WA 6000

A description of the nature of the Group's operations and its principal activities are included in the Directors' report, which is not part of the financial statements.

The financial statements were authorised for issue, in accordance with a resolution of Directors, on 30 January 2025.

Note 2. Material accounting policy information

These general purpose financial statements for the interim half-year reporting period ended 31 December 2024 have been prepared in accordance with Australian Accounting Standard AASB 134 'Interim Financial Reporting' and the Corporations Act 2001, as appropriate for for-profit oriented entities. Compliance with AASB 134 ensures compliance with International Financial Reporting Standard IAS 34 'Interim Financial Reporting'.

These general purpose financial statements do not include all the notes of the type normally included in annual financial statements. Accordingly, these financial statements are to be read in conjunction with the annual report for the year ended 30 June 2024 and any public announcements made by the Company during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001.

The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period, unless otherwise stated.

New or amended Accounting Standards and Interpretations adopted

There has been no impact to the financial statements arising from new, revised or amending Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ("AASB") that are mandatory for the current reporting period.

Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted.

Note 3. Critical accounting judgements, estimates and assumptions

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts in the financial statements. Management continually evaluates its judgements and estimates in relation to assets, liabilities, contingent liabilities, revenue and expenses. Management bases its judgements, estimates and assumptions on historical experience and on other various factors, including expectations of future events, management believes to be reasonable under the circumstances. The resulting accounting judgements and estimates will seldom equal the related actual results. The judgements, estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities (refer to the respective notes) within the next financial year are discussed below.

Share-based payment transactions

The consolidated entity measures the cost of equity-settled transactions with employees by reference to the fair value of the equity instruments at the date at which they are granted. The fair value is determined by using an option valuation model taking into account the terms and conditions upon which the instruments were granted and market based performance conditions.

9

M3 Mining Limited Notes to the consolidated financial statements 31 December 2024

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Note 3. Critical accounting judgements, estimates and assumptions (continued)

The likelihood of non-market performance conditions being met has been estimated by management and factored into the expense recognised in the period. The accounting estimates and assumptions related 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 profit and loss and equity.

Exploration and evaluation costs

Exploration and evaluation expenditure incurred by the Group subsequent to the acquisition of the rights to explore is expensed as incurred, up until the technical feasibility and commercial viability of the project has been demonstrated with a bankable feasibility study.

Capitalised exploration costs are reviewed at each reporting date to establish whether an indication of impairment exists. If any such indication exists, the recoverable amount of the capitalised exploration costs is estimated to determine the extent of the impairment loss (if any). Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but only to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in previous years.

Where a decision is made to proceed with development, accumulated expenditure is tested for impairment and transferred to development properties, and then amortised over the life of the reserves associated with the area of interest once mining operations have commenced.

Recoverability of the carrying amount of the exploration and evaluation assets is dependent on successful development and commercial exploitation, or alternatively, sale of the respective areas of interest.

Note 4. Operating segments

The Board has determined that the Company has one reportable segment, being mineral exploration in Australia. As the Company is focused on mineral exploration, the Board monitors the Company based on actual versus budgeted results. This internal reporting framework is the most relevant to assist the Board in making decisions regarding the Company and its ongoing exploration activities, while also taking into consideration the results of exploration work that has been performed to date. The financial results from this segment are equivalent to the financial statements of the Company as a whole.

All of the Company's assets are located in one geographical segment being Australia.

Note 5. Corporate and administration expenses

	31 Dec 2024	31 Dec 2023
	$	$
Share registry & ASX compliance fees	25,999	28,880
Contractors and consultancy	86,650	98,607
Legal fees	1,026	8,178
Audit fees	10,500	9,168
Insurance	14,687	15,020
Travel, conferences and marketing	23,789	38,758
Other	52,729	37,366
	215,380	235,977

10

M3 Mining Limited Notes to the consolidated financial statements 31 December 2024

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Note 6. Non-current assets - plant and equipment

	31 Dec 2024	30 Jun 2024
	$	$
Plant and equipment - at cost	60,201	59,875
Less: Accumulated depreciation	(37,723)	(31,656)
	22,478	28,219
Reconciliations
Reconciliations of the written down values at the beginning and end of the current and previous financial period/year are set
out below:
		$
Balance at 1 July 2023		40,194
Depreciation expense		(11,975)
Balance at 30 June 2024		28,219
Additions		326
Depreciation expense		(6,067)
Balance at 31 December 2024		22,478

Note 7. Non-current assets - exploration and evaluation

	31 Dec 2024	30 Jun 2024
	$	$
Exploration and evaluation	78,751	78,751
Reconciliations

Reconciliations	Reconciliations
Reconciliations of the written down values at the beginning and end of the current and previous financial period/year are set
out below:
	$
Balance at 1 July2024	78,751
Balance at 31 December 2024	78,751

The ultimate recovery of costs carried forward for exploration and evaluation phases is dependent on the successful development and commercial exploitation or sale of the respective areas of interest at an amount greater than or equal to carrying value.

Note 8. Equity - issued capital

	31 Dec 2024	30 Jun 2024	31 Dec 2024	30 Jun 2024
	Shares	Shares	$	$
Ordinaryshares - fully paid(net of transactions costs)	83,805,374	59,830,761	7,514,667	6,573,720

11

M3 Mining Limited Notes to the consolidated financial statements 31 December 2024

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Note 8. Equity - issued capital (continued)

Movements in ordinary share capital

Details	Date	Shares		$
Balance	1 July 2023	46,513,303		5,776,711
Conversion of Performance Rights	30 January 2024	800,000	$0.000	102,500
Capital Raising	15 February 2024	11,117,458	$0.060	667,047
Capital Raising	22 May 2024	1,400,000	$0.060	84,000
Less: capital raisingcosts		-	-	(56,538)
Balance	30 June 2024	59,830,761		6,573,720
Capital Raising	23 July 2024	23,974,613	$0.045	1,078,858
Less: capital raisingcosts		-	-	(137,911)
Balance	31 December 2024	83,805,374		7,514,667

Ordinary shares

Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up of the Company in proportion to the number of and amounts paid on the shares held. The fully paid ordinary shares have no par value and the Company does not have a limited amount of authorised capital.

On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote.

Movements in issued options

				Expired/
	Opening	Granted in	Exercised in	cancelled in	Closing
	balance	period	period	period	balance
					31 December
	1 July 2024				2024
Exercisable at $0.189 on or before 19 December
2025	7,000,000	-	-	-	7,000,000
Exercisable at$0.100 on or before 23 July2025	-	4,000,000	-	-	4,000,000
Total unlisted options	7,000,000	4,000,000	-	-	11,000,000
Movements in issued Performance Rights
				Expired/
	Opening	Granted in	Exercised in	cancelled in	Closing
	balance	period	period	period	balance
					31 December
	1 July 2024				2024
Director Performance Rights	5,500,000	-	-	-	5,500,000
Employee & Consultants Performance Rights	1,250,000	-	-	-	1,250,000
Total Performance Rights	6,750,000	-	-	-	6,750,000

12

M3 Mining Limited Notes to the consolidated financial statements 31 December 2024

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Note 9. Equity - reserves

	31	Dec 2024	30 Jun 2024
		$	$
Share-basedpayments reserve		503,016	345,497

Share-based payments reserve

The Company may provide benefits to employees (including directors) and non-employees of the Group in the form of sharebased payment transactions, whereby services are rendered in exchange for shares or rights over shares (‘equity-settled transactions’).

Rights over shares (options) using an option pricing model takes into account the exercise price, the term of the option, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk-free interest rate for the term of the option. The fair value of the options granted is adjusted to, exclude the impact of any nonmarket and service vesting conditions. Non-market vesting and service conditions, if any, are included in assumptions about the number of options likely to be exercisable.

Shares issued in lieu of payment are measured at the fair value of goods or services received or the fair value of the equity instrument issued, if it is determined the fair value of the good or services cannot be reliably measured, and are recorded at the date the goods or services are received. The corresponding amount is recorded to the share-based payment reserve.

Movements in reserves

Movements in each class of reserve during the current and previous financial period/year are set out below:

	$
Balance at 1 July 2023	1,176,398
Options issued to Directors and consultants	178,019
Performance rights issued	65,832
Performance rights cancelled	245,918
Conversion of performance rights to ordinary shares	(102,500)
Cancellation of expired options	(900,120)
Cancellation ofperformance rights	(318,050)
Balance at 30 June 2024	345,497
Options issued to Directors and consultants	61,584
Performance rights issued	35,771
Options issued to lead manager	60,164
Balance at 31 December 2024	503,016

Note 10. Equity - dividends

There were no dividends paid, recommended or declared during the current or previous financial period/year.

Note 11. Contingent liabilities

There are no significant contingent liabilities as at 31 December 2024 and the date of signing of this report (30 June 2024: Nil).

13

M3 Mining Limited Notes to the consolidated financial statements 31 December 2024

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Note 12. Commitments

	31 Dec 2024	30 Jun 2024
	$	$
Capital commitments
Committed at the reporting date but not recognised as liabilities, payable:
Exploration and evaluation	396,420	208,920

The Group must meet minimum expenditure commitments in relation to granted exploration tenements to maintain those tenements in good standing. If the relevant mineral tenement is relinquished the expenditure commitment also ceases.

Note 13. Events after the reporting period

No matter or circumstance has arisen since 31 December 2024 that has significantly affected, or may significantly affect the Group's operations, the results of those operations, or the Group's state of affairs in future financial years.

Note 14. Share-based payments

An Employee Incentive Securities Plan has been established by the Company, whereby the Company may, at the discretion of the Board, grant options and performance rights over ordinary shares in the Company to certain key management personnel, employees and consultants of the Company.

Set out below are summaries of options granted:

		Weighted
	Number of	average
	options	exercise price
	31 Dec 2024	31 Dec 2024
Outstanding at the beginning of the half-year period	7,000,000	$0.189
Granted	4,000,000	$0.100
Forfeited	-	$0.000
Exercised	-	$0.000
Expired	-	$0.000
Outstandingat the end of the half-yearperiod	11,000,000	$0.157
Exercisable at the end of the half-yearperiod	11,000,000	$0.157

The weighted average remaining contractual life of options outstanding at the end of the period was 0.9 years.

Options issued in prior years with vesting conditions are being expensed over their vesting period an amount of $61,584 was expensed (December 2023: $115,173).

In April 2024, the Company agreed to issue options to a broker on the completion of a successful capital raise. The options were recognised as a capital raising cost on completion of the capital raise in the half year.

The options were valued with a Black Scholes valuation an amount of $60,164 was included in capital raising costs.

For the options issued during the current financial half-year, the valuation model inputs used to determine the fair value at the grant date, are as follows:

		Share price	Exercise	Expected	Dividend	Risk-free	Fair value
Valuation date	Expiry date	at grant date	price	volatility	yield	interest rate at grant date
23/04/2024	23/07/2025	$0.056	$0.100	98.00%	-	3.89%	$0.015

14

M3 Mining Limited Notes to the consolidated financial statements 31 December 2024

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Note 14. Share-based payments (continued)

Set out below are summaries of performance rights granted under the plan:

	Number of
	rights
	31 Dec 2024
Outstandingat the beginningof the half-year	6,750,000
Outstandingat the end of the half-year	6,750,000

These performance rights were valued, using a valuation methodology based on the guidelines set out in AASB 2 Share based payment.

The probabilities of the rights vesting will need to be reassessed at every reporting period for the Performance Rights with performance conditions which are non-market based.

The value of the Performance Rights are being expensed over the vesting period of the Rights. During the period $35,763 (December 2023: $123,693), was recognised as an expense in relation to the rights.

	31 Dec 2024	31 Dec 2023
	$	$
Options issued to Directors and consultants	61,584	115,173
Performance rights issued to Directors and employees	35,771	123,693
Share basedpayments expense	97,355	238,866
Lead manager options	60,164	-
	157,519	238,866

15

M3 Mining Limited Directors' declaration 31 December 2024

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In the Directors' opinion:

• the attached financial statements and notes comply with the Corporations Act 2001, Australian Accounting Standard AASB 134 'Interim Financial Reporting', the Corporations Regulations 2001 and other mandatory professional reporting requirements;

• the attached financial statements and notes give a true and fair view of the Group's financial position as at 31 December 2024 and of its performance for the half-year ended on that date; and

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

Signed in accordance with a resolution of Directors made pursuant to section 303(5)(a) of the Corporations Act 2001.

On behalf of the Directors

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_________ Russell Davis Chairman

30 January 2025

16

Independent auditor’s review report to the members of M3 Mining Limited

Report on the half-year financial report

Our conclusion

Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the accompanying half-year financial report of M3 Mining Limited (the Company), and its subsidiaries (the Group) does not comply with the Corporations Act 2001 , including:

• giving a true and fair view of the Group’s financial position as at 31 December 2024 and of its financial performance for the half-year then ended; and

• complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001.

What was reviewed?

We have reviewed the accompanying half-year financial report of the Group, which comprises:

• the consolidated statement of financial position as at 31 December 2024,

• the consolidated statement of profit or loss and other comprehensive income for the half-year then ended,

• the consolidated statement of changes in equity for the half-year then ended,

• the consolidated statement of cash flows for the half-year then ended,

• notes to the financial statements, including a summary of material accounting policy information and other explanatory information and

• the directors’ declaration.

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 Group 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 (including Independence Standards) (the Code) 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.

Responsibilities 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 internal 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 responsibilities 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 Group’s financial position as at 31 December 2024 and its performance for the half-year 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.

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William Buck Audit (WA) Pty Ltd ABN 67 125 012 124

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Conley Manifis Director Dated this 30[th] day of January 2025