UNITY METALS LIMITED - Interim / Quarterly Report 2025

Interim Financial Information

UNITY ENERGY & RESOURCES

(SINGAPORE) LIMITED

Company Registration No.: 201416545M

AND ITS SUBSIDIARIES

30 June 2025

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

GENERAL INFORMATION

DIRECTORS

Gilbert Christopher Rodgers Craig Ross Mackay Andrew Michael Wright Anthony Mark Ashall Heng Kai Yin, Kentie Mrs. Kentie Douglas Danapal Naidu Lee Teck Heok @ Lee Junior Wang Lin

(Appointed on 1 March 2025) (Resigned on 1 March 2025) (Resigned on 15 January 2024)

SECRETARIES

Neoh Hooi Ming Hoo Sow Lan Naboobalan S/O Ramasamy Naidu

(Resigned on 5 August 2025) (Resigned on 5 August 2025) (Appointed on 5 August 2025)

REGISTERED OFFICE

111 North Bridge Road #23-05, Peninsula Plaza Singapore 179098

AUDITOR

Jayce & Co

Public Accountants and Chartered Accountants Singapore

PRINCIPAL BANKER

Oversea-Chinese Banking Corporation Limited

INDEX

Directors’ Statement	PAGE 1
Independent Auditor’s Review Report	2
Interim Consolidated and Separate Statements of Financial Position	3
Interim Consolidated and Separate Statements of Profit or Loss and Other Comprehensive Income	4
Interim Consolidated and Separate Statements of Changes in Equity	5 - 7
Interim Consolidated Statement of Cash Flows	8
Notes to the Interim Financial Information	9 - 36

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

DIRECTORS’ STATEMENT FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

In the opinion of the directors, the accompanying financial information are drawn up so as to give a true and fair view of the interim consolidated financial position of the Group and interim financial position of the Company as at 30 June 2025, and of the interim consolidated financial performance, interim consolidated changes in equity and interim consolidated cash flows of the Group for the financial period from 1 January 2025 to 30 June 2025 and at the date of this statement, there are reasonable grounds to believe that the Company, with the continuing financial support from its holding company, will be able to pay its debts as and when they fall due.

On behalf of the Board of Directors,

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……......................................................... Gilbert Christopher Rodgers Director

……......................................................... Craig Ross Mackay Director

Date: 16 October 2025

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

INDEPENDENT AUDITOR’S REVIEW REPORT FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

Introduction

We have reviewed the accompanying interim financial information of Unity Energy & Resources (Singapore) Limited (the Company), and its subsidiaries (collectively, the Group), which comprise the consolidated statement of financial position of the Group and the statement of financial position of the Company as at 30 June 2025, the consolidated statement of profit or loss and other comprehensive income for the period from 1 January 2025 to 30 June 2025, consolidated statement of changes in equity and consolidated statement of cash flows of the Group for the period then ended, and material accounting policy information and other explanatory notes.

Management is responsible for the preparation and fair presentation of this interim financial information in accordance with Singapore Financial Reporting Standard 34 “Interim Financial Reporting”. Our responsibility is to express a conclusion on this interim financial information based on our review.

Scope of Review

We conducted our review in accordance with Singapore Standard on Review Engagements 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”. A review of interim financial information consists of making inquiries, 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 Singapore Standards on Auditing 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.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim financial information does not give a true and fair view of the consolidated statement of financial position of the Group and the statement of financial position of the Company as at 30 June 2025, and of its consolidated statement of profit or loss and other comprehensive income for the period from 1 January 2025 to 30 June 2025, consolidated statement of changes in equity and consolidated statement of cash flows of the Group for the period then ended in accordance with Singapore Financial Reporting Standard 34 “Interim Financial Reporting”.

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Jayce & Co Public Accountants and Chartered Accountants Singapore

Date: 16 October 2025

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

INTERIM CONSOLIDATED AND SEPARATE STATEMENTS OF FINANCIAL POSITION AS AT 30 JUNE 2025

ASSETS Non-current assets Property, plant and equipment Deposit Investment in subsidiaries Current assets Prepayments Amount due from shareholders Amount due from directors Amount due from subsidiaries Other receivables Cash and cash equivalents Total assets LIABILITIES AND EQUITY Current liabilities Accruals and other payables Equity Attributable to the equity holders of the Company Share capital Share application monies Other reserves Accumulated losses Non-controlling interest Total equity Total liabilities and equity	Note	Group Unaudited as at 30.6.2025 Audited as at 31.12.2024 US$ US$ 40,763 51,904 526 498 - - 41,289 52,402 6,610 3,794 1,754 10,955 13,678 11,383 - - 236,557 170,227 454,928 740,363 713,527 936,722 754,816 989,124 170,898 443,713 170,898 443,713 7,915,840 6,069,575 - 1,130,787 1,076,977 1,069,157 (8,216,330) (7,565,315) 776,487 704,204 (192,569) (158,793) 583,918 545,411 754,816 989,124	Company Unaudited as at 30.6.2025 Audited as at 31.12.2024 US$ US$ 19,384 27,104 - - - - 19,384 27,104 2,596 - 1,754 10,955 13,678 11,383 - - 97,068 46,788 396,965 725,861 512,061 794,987 531,445 822,091 146,426 382,246 146,426 382,246 7,915,840 6,069,575 - 1,130,787 1,064,853 1,066,770 (8,595,673) (7,827,287) 385,020 439,845 - - 385,020 439,845 531,446 822,091	Company Unaudited as at 30.6.2025 Audited as at 31.12.2024 US$ US$ 19,384 27,104 - - - - 19,384 27,104 2,596 - 1,754 10,955 13,678 11,383 - - 97,068 46,788 396,965 725,861 512,061 794,987 531,445 822,091 146,426 382,246 146,426 382,246 7,915,840 6,069,575 - 1,130,787 1,064,853 1,066,770 (8,595,673) (7,827,287) 385,020 439,845 - - 385,020 439,845 531,446 822,091	Company Unaudited as at 30.6.2025 Audited as at 31.12.2024 US$ US$ 19,384 27,104 - - - - 19,384 27,104 2,596 - 1,754 10,955 13,678 11,383 - - 97,068 46,788 396,965 725,861 512,061 794,987 531,445 822,091 146,426 382,246 146,426 382,246 7,915,840 6,069,575 - 1,130,787 1,064,853 1,066,770 (8,595,673) (7,827,287) 385,020 439,845 - - 385,020 439,845 531,446 822,091
	4 5 6 7 8 9 10 11 12 13 14
					27,104
					- 10,955 11,383 - 46,788 725,861
					794,987
					822,091
					382,246
					382,246
					6,069,575 1,130,787 1,066,770 (7,827,287)
					439,845 -
					439,845

					822,091

The accompanying notes form an integral part of these interim financial information

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

INTERIM CONSOLIDATED AND SEPARATE STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE SIX-MONTHS PERIOD ENDED 30 JUNE 2025

Revenue Other income Total income Expenses Administrative and other expenses Exploration and evaluation expenses Loss before income tax Income tax expense Loss for the period Other comprehensive income Items that may be reclassified subsequently to profit or loss Currency translation differences arising from consolidation Total comprehensive loss for the period Loss for the period attributable to: Equity holders of the Company Non-controlling interests Total comprehensive loss for the period attributable to: Equity holders of the Company Non-controlling interests	Note		Group 1.1.2025 to 30.6.2025 1.1.2024 to 30.6.2024 (Unaudited) (Unaudited) US$ US$ 98 10 98 10 (353,900) (143,639) (330,989) (476,363) (684,791) (619,992) - - (684,791) (619,992) 17,542 - (667,249) (619,992) (651,015) (569,396) (33,776) (50,596) (684,791) (619,992) (633,473) (569,396) (33,776) (50,596) (667,249) (619,992)		Company 1.1.2025 to 30.6.2025 1.1.2024 to 30.6.2024 (Unaudited) (Unaudited) US$ US$ - - - - (646,295) (91,034) (122,092) (176,717) (768,387) (267,751) - - (768,387) (267,751) - - (768,387) (267,751)	Company 1.1.2025 to 30.6.2025 1.1.2024 to 30.6.2024 (Unaudited) (Unaudited) US$ US$ - - - - (646,295) (91,034) (122,092) (176,717) (768,387) (267,751) - - (768,387) (267,751) - - (768,387) (267,751)	Company 1.1.2025 to 30.6.2025 1.1.2024 to 30.6.2024 (Unaudited) (Unaudited) US$ US$ - - - - (646,295) (91,034) (122,092) (176,717) (768,387) (267,751) - - (768,387) (267,751) - - (768,387) (267,751)
	15 16 16 18
							- (91,034) (176,717)
							(267,751) -
							(267,751) -
							(267,751)

The accompanying notes form an integral part of these interim financial information

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

INTERIM CONSOLIDATED AND SEPARATE STATEMENTS OF CHANGES IN EQUITY FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

Group At 1 October 2024 Issuance of ordinary shares Share application monies allotted during the period Share application monies pending allotment Loss for the period Other comprehensive income Foreign currency translation Total comprehensive loss for the period At 31 December 2024 At 1 January 2025 Issuance of ordinary shares Share application monies allotted during the period Loss for the period Other comprehensive income Foreign currency translation Total comprehensive loss for the period At 30 June 2025	Note	<…………….….. Attributable to equity holders of the Company ……………......>
		Share capital Share application monies Other reserves Accumulated (losses) Total Non – controlling interest Total
		US$ US$ US$ US$ US$ US$ US$ 4,542,090 1,574,586 1,066,770 (7,083,645) 99,801 (142,276) (42,475) 1,527,485 - - - 1,527,485 - 1,527,485 - (1,129,693) - - (1,129,693) - (1,129,693) - 685,894 - - 685,894 - 685,894
		- - (481,670) (481,670) (16,517) (498,187) - - 2,387 - 2,387 - 2,387
		- - 2,387 (481,670) (479,283) (16,517) (495,800)
		6,069,575 1,130,787 1,069,157 (7,565,315) 704,204 (158,793) 545,411
		6,069,575 1,130,787 1,069,157 (7,565,315) 704,204 (158,793) 545,411 1,846,265 - - - 1,846,265 - 1,846,265 - (1,132,704) - - (1,132,704) - (1,132,704)
		- - - (651,015) (651,015) (33,776) (684,791) - 1,917 7,820 - 9,737 - 9,737
		- 1,917 7,820 (651,015) (641,278) (33,776) (675,054)
		7,915,840 - 1,076,977 (8,216,330) 776,487 (192,569) 583,918

The accompanying notes form an integral part of these interim financial information

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

INTERIM CONSOLIDATED AND SEPARATE STATEMENTS OF CHANGES IN EQUITY FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

Company At 1 October 2024 Issuance of ordinary shares Share application monies allotted during the period Share application monies pending allotment Loss for the period, representing total comprehensive loss for the period At 31 December 2024 At 1 January 2025 Issuance of ordinary shares Share application monies allotted during the period Loss for the period, representing total comprehensive loss for the period At 30 June 2025	Note 12 13	Share capital Share application monies Other reserve	Accumulated (losses) Total
		US$ US$ US$ 4,542,090 1,574,586 1,066,770 1,527,485 - - - (1,129,693) - - 685,894 - - - -	US$ US$ (7,348,680) (165,234) - 1,527,485 - (1,129,693) - 685,894 (478,607) (478,607)
		6,069,575 1,130,787 1,066,770	(7,827,287) 439,845
		6,069,575 1,130,787 1,066,770 1,846,265 - - - (1,132,704) - - 1,917 (1,917)	(7,827,287) 439,845 - 1,846,265 - (1,132,704) (768,387) (768,387)
		7,915,840 - 1,064,853	(8,595,674) 385,019

The accompanying notes form an integral part of these interim financial information

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

Cash flows from operating activities Loss before income tax Adjustments for: Depreciation of property, plant and equipment Gain on property, plant and equipment written off Foreign currency translation Operating cash flows before changes in working capital Changes in working capital: Increase in deposit Increase in prepayments Decrease/(increase) in amount due from corporate shareholders (Increase)/decrease in amount due from directors Increase in other receivables Decrease in amount due to corporate shareholders Increase in amount due to directors Decrease in accruals and other payables Net cash used in operating activities Cash flows from investing activity Purchase of property, plant and equipment Net cash used in investing activity Cash flows from financing activities Issuance of ordinary shares Share application monies pending allotment Share application allotted Net cash generated from financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the period/year Cash and cash equivalents at end of the period/year	Note 4 4 13 10		Group 1.1.2025 to 30.06.2025 1.10.2024 to 31.12.2024 (Unaudited) (Audited) US$ US$ (684,791) (498,187) 11,049 5,791 92 - 9,737 2,387 (663,913) (490,009) (28) (498) (2,816) 2,229 9,201 245 (2,295) 9,396 (66,330) (41,942) - (56) - (5,211) (272,815) 131,537 (998,996) (394,309) - (790) - (790) 1,846,265 1,527,485 - 685,894 (1,132,704) (1,129,693) 713,561 1,083,686 (285,435) 688,587 740,363 51,776 454,928 740,363	Group 1.1.2025 to 30.06.2025 1.10.2024 to 31.12.2024 (Unaudited) (Audited) US$ US$ (684,791) (498,187) 11,049 5,791 92 - 9,737 2,387 (663,913) (490,009) (28) (498) (2,816) 2,229 9,201 245 (2,295) 9,396 (66,330) (41,942) - (56) - (5,211) (272,815) 131,537 (998,996) (394,309) - (790) - (790) 1,846,265 1,527,485 - 685,894 (1,132,704) (1,129,693) 713,561 1,083,686 (285,435) 688,587 740,363 51,776 454,928 740,363	Group 1.1.2025 to 30.06.2025 1.10.2024 to 31.12.2024 (Unaudited) (Audited) US$ US$ (684,791) (498,187) 11,049 5,791 92 - 9,737 2,387 (663,913) (490,009) (28) (498) (2,816) 2,229 9,201 245 (2,295) 9,396 (66,330) (41,942) - (56) - (5,211) (272,815) 131,537 (998,996) (394,309) - (790) - (790) 1,846,265 1,527,485 - 685,894 (1,132,704) (1,129,693) 713,561 1,083,686 (285,435) 688,587 740,363 51,776 454,928 740,363
					(490,009) (498) 2,229 245 9,396 (41,942) (56) (5,211) 131,537
					(394,309)
					(790)
					(790)
					1,527,485 685,894 (1,129,693)
					1,083,686
					688,587 51,776
					740,363

The accompanying notes form an integral part of these interim financial information

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

These notes form an integral part of and should be read in conjunction with the accompanying financial statements.

1. Corporate information

Unity Energy & Resources (Singapore) Limited (the “Company”) is a public limited company which is incorporated and domiciled in Singapore.

The registered office of the Company is located at 111 North Bridge Road #23-05, Peninsula Plaza Singapore 179098.

The principal place of business of the Company is located at 4A Street 36R, Khan Russey Keo, Phnom Penh 120703, Cambodia.

The Company is an investment holding company. There has been no significant change in the nature of these activities during the financial period.

The principal activities and other details of the subsidiaries are set out in Note 5 to the financial statements.

2. Material accounting policy information

2.1) Basis of preparation

The consolidated financial statements of the Group and the statement of financial position of the Company have been drawn up in accordance with Financial Reporting Standards in Singapore (“FRSs”). The financial statements have been prepared on the historical cost basis except as disclosed in the accounting policies below.

The financial statements are presented in United States dollar (“US$”), which is the Company’s functional currency.

2.1a) Going concern

The financial statements of the Group have been prepared on a going concern basis notwithstanding the Group incurred a net loss of US$667,249 (1.1.2024 to 30.6.2024: US$619,992) for the financial period ended 30 June 2025. This indicate the existence of a material uncertainty which may cast significant doubt over the Group’s ability to continue as a going concern.

The ability of the Group to continue as a going concern is dependent on its shareholders to provide continuing financial support to enable the Group to meet its liabilities as and when they fall due.

If the Group and the Company is unable to continue in operational existence for the foreseeable future, the Group and the Company may be unable to discharge its liabilities in the normal course of business and adjustments may have to be made to reflect the situation that assets may need to be realised other than in the normal course of business and at amounts which could differ significantly from the amounts at which they are currently recorded in the statement of financial position. In addition, the Group and the Company may have to reclassify non-current assets and liabilities as current assets and liabilities. No such adjustments have been made to these financial statements.

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

2. Material accounting policy information (Continued)

2.2) Adoption of new and amended standards and interpretations

The accounting policies adopted are consistent with those of the previous financial year except that in the current financial period, the Group has adopted all the new and amended standards which are relevant to the Group are effective for annual financial period beginning on 1 January 2024. The adoption of these standards did not have any material effect on the financial statements of the Group.

2.3) Standards issued but not yet effective

A number of new standards and amendments to standards that have been issued are not yet effective and have not been applied in preparing these financial statements.

The directors expect that the adoption of these new and amended standards will have no material impact on the financial statements in the year of initial application.

The following are new / revised / amendments to FRSs issued by the Accounting Standards Council of Singapore up to 31 December 2024 which are effective for annual reporting periods beginning after 1 October 2024:

beginning after 1 October 2024:
	Effective for annual
	periods beginning on or
Description	after
Amendments to FRS 21_The Effects of Changes in Foreign_	1 January 2025
_Exchange Rates:_Lack of Exchangeability
Amendments to FRS 109_Financial Instruments_and FRS	1 January 2026
107_Financial Instruments: Disclosures:_Amendments to
the Classification and Measurement of Financial
Instruments
Annual Improvement to FRSs Volume 11	1 January 2026
FRS 118_Presentation and Disclosure in Financial_	1 January 2027
Statements:
FRS 119_Subsidiaries without Public Accountability:_	1 January 2027
Disclosures
Amendments to FRS 110 Consolidated Financial	Date to be determined
Statements_and FRS 28_Investments in Associates and
Joint Ventures: Sale or Contribution of Assets between an
Investor and its Associate or Joint Venture

2.4) Basis of consolidation

The consolidated financial statements comprise the financial statements of the Company and its subsidiaries as at the end of the reporting period. The financial statements of the subsidiaries used in the preparation of the consolidated financial statements are prepared for the same reporting date as the Company. Consistent accounting policies are applied to like transactions and events in similar circumstances.

All intra-group balances, income and expenses and unrealised gains and losses resulting from intra-group transactions are eliminated in full.

Business combinations are accounted for under the purchase method. The cost of an acquisition is measured at the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the acquisition.

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

2. Material accounting policy information (Continued)

2.4) Basis of consolidation (Continued)

Any excess of the cost of the business combination over the Group’s interest in the net fair value of the acquired subsidiaries’ identifiable assets, liabilities and contingent liabilities is recorded as goodwill on the statement of financial position. The goodwill is accounted for in accordance with the accounting policy of goodwill.

Any excess of the Group’s interest in the net fair value of the acquired subsidiaries’ identifiable assets, liabilities and contingent liabilities over the cost of business combination is credited to the profit or loss in the year of the acquisition.

2.5) Subsidiaries

Subsidiaries are entities controlled by the Group. Control is achieved when the Group has power over the investee, is exposed, or has rights, to variable returns from its involvement with the investee, and has the ability to use its power to affect its returns. Details of the Group’s significant subsidiaries and composition of the Group are disclosed in Note 5.

In the Company’s statement of financial position, investment in subsidiaries is accounted for at cost less impairment losses.

2.6) Property, plant and equipment

All items of property, plant and equipment are initially recorded at cost. Subsequent to recognition, property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses. The cost of property, plant and equipment includes its purchase price and any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Dismantlement, removal or restoration costs are included as part of the cost of property, plant and equipment if the obligation for dismantlement, removal or restoration is incurred as a consequence of acquiring or using the property, plant and equipment.

Depreciation is calculated using the straight-line method to allocate depreciable amounts over their estimated useful lives. The estimated useful lives are as follows:

Plant and equipment Motor Vehicles	Useful lives
	3-5 years 5 years

The residual value, useful lives and depreciation method are reviewed at the end of each reporting period, and adjusted prospectively, if appropriate.

An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss on de-recognition of the asset is included in profit or loss in the year the asset is derecognised.

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

2. Material accounting policy information (Continued)

2.7) Financial instruments

Financial assets

Initial recognition and measurement

Financial assets are recognised when, and only when the entity becomes party to the contractual provisions of the instruments.

At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (FVPL), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVPL are expensed in profit or loss.

Subsequent measurement

Investment in debt instruments

Subsequent measurement of debt instruments depends on the Group’s business model for managing the asset and the contractual cash flow characteristics of the asset. The three measurement categories for classification of debt instruments are amortised cost, fair value through other comprehensive income (FVOCI) and FVPL. The Group only has debt instruments at amortised cost.

Financial assets that are held for the collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortised cost. Financial assets are measured at amortised cost using the effective interest method, less impairment. Gains or losses are recognised in profit or loss when the assets are derecognised or impaired and through the amortisation process.

Derecognition

A financial asset is derecognised where the contractual right to receive cash flows from the asset has expired. On derecognition of a financial asset in its entirety, the difference between the carrying amount and the sum of the consideration received and any cumulative gain or loss that had been recognised in other comprehensive income for debt instruments is recognised in profit or loss.

Financial liabilities

Initial recognition and measurement

Financial liabilities are recognised when, and only when, the Group becomes a party to the contractual provisions of the financial instrument. The Group determines the classification of its financial liabilities at initial recognition.

All financial liabilities are recognised initially at fair value plus in the case of financial liabilities not at FVPL, directly attributable transaction costs.

Subsequent measurement

After initial recognition, financial liabilities that are not carried at FVPL are subsequently measured at amortised cost using the effective interest method. Gains and losses are recognised in profit or loss when the liabilities are derecognised, and through the amortisation process.

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

2. Material accounting policy information (Continued)

2.7) Financial instruments (Continued)

Financial liabilities (Continued)

Derecognition

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. On derecognition the difference between the carrying amounts and the consideration paid is recognised in profit or loss.

2.8) Impairment of non-financial assets

The Group assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, (or, where applicable, when an annual impairment testing for an asset is required), the Group makes an estimate of the asset’s recoverable amount.

An asset’s recoverable amount is the higher of an asset’s or cash-generating unit’s fair value less costs of disposal and its value in use and is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or group of assets. Where the carrying amount of an asset or cash-generating unit exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.

Impairment losses are recognised in profit or loss.

A previously recognised impairment loss is reversed only if there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognised. If that is the case, the carrying amount of the asset is increased to its recoverable amount. That increase cannot exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognised previously. Such reversal is recognised in profit or loss.

2.9) Impairment of financial assets

The Group recognises an allowance for expected credit losses (ECLs) for all debt instruments not held at FVPL. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.

ECLs are recognised in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is recognised for credit losses expected over the remaining life of the exposure, irrespective of timing of the default (a lifetime ECL).

The Group considers a financial asset in default when contractual payments are 60 days past due. However, in certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Group. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows.

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

2. Material accounting policy information (Continued)

2.10) Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and bank balances and are subject to an insignificant risk of changes in value.

2.11) Share capital

Proceeds from issuance of ordinary shares are recognised as share capital in equity. Incremental costs directly attributable to the issuance of ordinary shares are deducted against the share capital.

2.12) Employee benefits

Short-term employee benefits

Short-term employee benefits obligations are measured on an undiscounted basis and are expensed as the related service is provided. A liability is recognised for the amount expected to be paid if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee, and the obligation can be estimated reliably.

Share-based payments

The Group issues equity-settled share option plan to certain employees.

Equity-settled share-based payments are measured at fair value of the equity instruments at the date of grant. Details regarding the determination of the fair value of equity-settled sharebased transactions are set out in Note 16. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Group’s estimate of the number of equity instruments that will eventually vest. The Group revises their estimate of the number of equity instruments expected to vest. The impact of the revision of the original estimates, if any, is recognised in profit or loss such that the cumulative expense reflects the revised estimate, with a corresponding adjustment to the share option reserve.

2.13) Foreign currency

(a) Functional and presentation currency

Items included in the financial statements of each entity in the Group are measured using the currency of the primary economic environment in which the Group operates (“functional currency”). The financial statements of the Group are presented in United States dollar.

(b) Transactions and balances

Transactions in a currency other than the functional currency (“foreign currency”) are translated into the functional currency using the exchange rates at the dates of the transactions. Currency translation differences from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies at the closing rates at the end of the financial period are recognised in the income statement, unless they arise from borrowings in foreign currencies, other currency instruments designated and qualifying as net investment hedges and net investment in foreign operations. Those currency translation differences are recognised in the currency translation reserve in the financial statements and transferred to the income statement as part of gain or loss on disposal of the foreign operation.

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

2. Material accounting policy information (Continued)

2.13) Foreign currency (Continued)
(b) Transactions and balances (Continued)

Non-monetary items that are measured in terms of historical cost in foreign currency are translated using the exchange rates as at the dates of the initial transactions. Nonmonetary items measured at fair values in foreign currencies are translated using the exchange rates at the date when the fair values are determined.

2.14) Taxes

Current income tax

Current income tax assets and liabilities for the current and prior years are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted by the end of the reporting period.

Current income taxes are recognised in profit or loss except to the extent that the tax relates to items recognised outside profit or loss, either in other comprehensive income or directly in equity. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.

Deferred tax

Deferred tax is provided using the liability method on temporary differences at the end of the reporting period between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes.

Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits and unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilised.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets are reassessed at the end of each reporting period and are recognised to the extent that it has become probable that future taxable profit will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the asset is realised or the liability is settled, based on tax rates and tax laws that have been enacted or substantively enacted at the end of each reporting period.

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

2. Material accounting policy information (Continued)

2.15) Related parties

A related party is a person or entity that is related to the Group and includes:

(a) A person or a close member of that person’s family which is related to reporting entity if that person:
(i) has control or joint control over the reporting entity;
(ii) has significant influence over the reporting entity; or
(iii) is a member of the key management personnel of the reporting entity or of a parent of the reporting entity.
(b) An entity which is related to a reporting entity if any of the following conditions applies:
(i) The entity and the reporting entity are members of the same group (which means that each parent, subsidiary and fellow subsidiary is related to the others).
(ii) One entity is an associate or joint venture of the other entity (or an associate or joint venture of a member of the group of which the other entity is a member).
(iii) Both entities are joint ventures of the same third party.
(iv) One entity is a joint venture of a third party and the other entity is an associate of the third party.
(v) The entity is a post-employment benefit plan for the benefit of employees of either the reporting entity or any related to the reporting entity. If the reporting entity is itself such a plan, the sponsoring employers are also related to the reporting entity.
(vi) The entity is controlled by a person identified in (a).
(vii) A person identified in (a)(i) has significant influence over the entity or is a member of the key personnel of the entity (or of a parent of the entity).
(viii) The entity, or any member of a group of which it is a part, provides key management personnel services to the reporting entity or the parent of the reporting entity.

The following are not necessarily related parties:

(a) Two entities simply because they have a director or other member of key management personnel in common.

(b) Two ventures simply because they share joint control over a joint venture.

Key management personnel are people having the authority and responsibility for planning, directing and controlling the activities of the Group.

2.16) Mineral exploration, evaluation and development expenditure

Pre-mining rights costs

Costs incurred prior to obtaining mining rights are expensed in the period in which they are incurred.

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

2. Material accounting policy information (Continued)

2.16) Mineral exploration, evaluation and development expenditure (Continued)

Exploration and evaluation costs

Once the legal right to explore has been acquired, exploration and evaluation expenditure is charged to profit or loss as incurred, unless the Group conclude that a future economic benefit is more likely than not to be realised. These costs include materials and fuel used, surveying costs, drilling costs and payments made to contractors.

In evaluating if expenditures meet the criteria to be capitalised, several different sources of information are utilised. The information that is used to determine the probability of future benefits depends on the extent of exploration and evaluation that has been performed.

Drilling and related costs incurred on sites without an existing mine and on areas outside the boundary of a known mineral deposit which contains proven and probable reserves are exploration and evaluation expenditures, and are expensed as incurred to the date of establishing that costs incurred are economically recoverable. Further exploration and evaluation expenditures, subsequent to the establishment of economic recoverability, are capitalised and included in the carrying amount of the mineral assets.

Management evaluates the following criteria in its assessments of economic recoverability and probability of future economic benefit:

Geology - whether or not there is sufficient geologic and economic certainty of being able to convert a residual mineral deposit into a proven and probable reserve at a development.
- Scoping - there is a scoping study or preliminary feasibility study that demonstrates the additional resources will generate a positive commercial outcome. Known metallurgy provides a basis for concluding there is a significant likelihood of being able to recoup the incremental costs of extraction and production.
Accessible facilities - mining property can be processed economically at accessible mining and processing facilities where applicable.
Life of mine plans - an overall life of mine plan and economic model to support the mine and the economic extraction of reserves and resources exists. A long-term life of mine plan, and supporting geological model identifies the drilling and related development work required to expand or further define the existing ore body.
Authorisations - operating permits and feasible environmental programs exist or are obtainable.

Prior to capitalising exploration drilling and related costs, management will determine that the following conditions have been met that will contribute to future cash flows:

There is a probable future benefit that will contribute to future cash inflows;
The Group can obtain the benefit and controls access to it;
The transaction or event giving rise to the future benefit has already occurred; and
Costs incurred can be measured reliably.

If after expenditure is capitalised, information becomes available suggesting that the recovery of expenditure is unlikely, the amount is written off in profit or loss in the period when the new information becomes available.

Once reserves are established and development is sanctioned, exploration and evaluation assets are tested for impairment and transferred to “Mines under construction”. No amortisation is charged during the exploration and evaluation phase.

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

3. Significant accounting judgements and estimates

The preparation of the Group’s consolidated financial statements requires the use of certain significant accounting estimates, assumptions and judgements in applying the accounting policies. These judgements affect the application of the Group’s accounting policies. The use of estimates and assumptions affect the reported amounts of assets, liabilities, income and expenses and disclosures made. They are assessed on an on-going basis and are based on experience and other relevant factors, including expectations of future events that are believed to be reasonable under the circumstances.

3.1) Judgements made in applying accounting policies

Determination of functional currency

In determining the functional currency of the Company, judgement is used by the Company to determine the currency of the primary economic environment in which the Company operates. Consideration factors include the currency of the country whose competitive forces and regulations mainly determines the sales prices of its goods and services.

3.2) Key sources of estimation uncertainty

The key assumptions concerning the future and other key sources of estimation uncertainty at the end of the reporting period are discussed below. The Group based its assumptions and estimates on parameters available when the financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising beyond the control of the Group. Such changes are reflected in the assumptions when they occur.

Impairment of financial assets measured at amortised cost

The Group assesses at the end of each reporting date whether there is any objective evidence that a financial asset is impaired. To determine whether there is objective evidence of impairment, the Group considers factors such as the probability of insolvency or significant financial difficulties of the debtor and default or significant delay in payments.

Where there is objective evidence of impairment, the amount and timing of future cash flows are estimated based on historical loss experience for assets with similar credit risk characteristics. The carrying amount of the Group and the Company’s financial assets measured at amortised cost at the end of the financial period are disclosed in Note 6, 7, 8 and 9 to the financial statements.

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

3. Significant accounting judgements and estimates (Continued)

3.2) Key sources of estimation uncertainty (Continued)

Impairment of non-financial assets

The Group assesses whether there are any indications of impairment for all non-financial assets at each reporting date. Non-financial asset are tested for impairment annually and at other times when such indicators exist.

When value in use calculations are undertaken, management must estimate the expected future cash flows from the asset or cash-generating unit and choose a suitable discount rate in order to calculate the present value of those cash flows.

The carrying amount of non-financial assets at the reporting date is disclosed in Note 4 to the financial statements.

Depreciation of property, plant and equipment

The cost of property, plant and equipment is depreciated on a straight-line basis over their useful lives. Management estimates the useful lives of these property, plant and equipment as outlined in Note 2.6 to the financial statements.

Changes in the expected level of usage and technological developments could impact the economic useful lives and the residual values of these assets, therefore future depreciation charges could be revised.

The carrying value of the Group and the Company’s property, plant and equipment are disclosed in Note 4 to the financial statements.

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

4. Property, plant and equipment

Plant and equipment US$ 56,733 (105)	Motor Vehicles US$ 25,238 -	Total US$ 81,971 (105)
56,628	25,238	81,866
24,351 8,526 (14)	5,716 2,524 -	30,067 11,049 (14)
32,863	8,240	41,102
23,765	16,998	40,763
55,943 790	25,238 -	81,181 790
56,733	25,238	81,971
19,821 4,530	4,455 1,261	24,276 5,791
24,351	5,716	30,067
32,382	19,522	51,904

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

4. Property, plant and equipment (Continued)

5.	Company Cost At 1 January 2025 At 30 June 2025 Accumulated depreciation At 1 January 2025 Depreciation for the period At 30 June 2025 Carrying amount At 30 June 2025 Cost At 1 October 2024 At 31 December 2024 Accumulated depreciation At 1 October 2024 Depreciation for the period At 31 December 2024 Carrying amount At 31 December 2024 Investment in subsidiaries Unquoted shares, at cost Less: impairment loss Movement in impairment loss: At beginning of the financial period Impairment during the period At end of the financial period		Plant and equipment US$ 49,664
			49,664
			22,560 7,720
			30,280
			19,384
			49,664
			49,664
			18,442 4,118
			22,560
			27,104

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

5. Investment in subsidiaries (Continued)

Details of the subsidiaries are as follow:

Name of companies and country of
incorporation
Principal activities
Unity E&M Pte. Ltd. (Singapore)1
Investment holding
Unity Vulcan Pte. Ltd. (Singapore)1
Investment holding
Name of companies and country of
incorporation
Principal
activities
Held through Unity E&M Pte. Ltd.
Unity E and R Coal Company Limited
(Myanmar)4
Mineral exploration
Unity Metals (Cambodia) Co, Ltd2
Mineral exploration
Held through Unity Vulcan Pte. Ltd.
Unity E and R Metals Company Limited
(Myanmar)3
Mineral exploration
Highland Hopang Resources Company
Ltd (Myanmar)3
Investment holding
Bawsaing Resources Company Limited
(Myanmar)3
Mineral exploration
and mining
Unity Minerals (Thailand) Co. Ltd.5
Mineral exploration

Percentage of paid-up
capital held
30.6.2025
31.12.2024
%
%
100
100
100
100
Proportion of
ownership interest
30.6.2025
31.12.2024
%
%
-
100
85
85
100
100
100
100
75
75
100
-

1 Unaudited as not mandatory in the country of origin

2 Audited by BDO Cambodia

3 Unaudited and in liquidation process

4 Liquidated

5 Audited by BDO Thailand

6. Amount due from shareholders

Amount due from shareholders is non-trade related in nature, unsecured, interest-free and repayable on demand.

Amount due from shareholders is denominated in United States dollar.

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

7. Amount due from directors

Amount due from directors is non-trade related in nature, unsecured, interest-free and repayable on demand.

The amount due from directors is denominated in the following currencies:

Australian dollar British pound Myanmar kyat Singapore dollar United States dollar		Group 30.6.2025 US$ (81,557) 12,909 18,943 15,423 20,604 (13,678)	Group	Group	31.12.2024 US$ 77,148 (11,802) (18,947) (14,411) (20,604) 11,383		Company 30.6.2025 31.12.2024 US$ US$ (81,557) 77,148 12,909 (11,802) 18,943 (18,947) 15,423 (14,411) 20,604 (20,604) (13,678) 11,383	Company 30.6.2025 31.12.2024 US$ US$ (81,557) 77,148 12,909 (11,802) 18,943 (18,947) 15,423 (14,411) 20,604 (20,604) (13,678) 11,383	Company 30.6.2025 31.12.2024 US$ US$ (81,557) 77,148 12,909 (11,802) 18,943 (18,947) 15,423 (14,411) 20,604 (20,604) (13,678) 11,383

									11,383

8. Amount due from subsidiaries

Amount due from subsidiaries Less: Allowance for expected credit losses Movement in impairment loss: At beginning of the financial period Impairment during the period At end of the financial period		Company 30.6.2025 31.12.2024 US$ US$ 1,787,916 1,376,399 (1,787,916) (1,376,399) - - 1,376,399 1,183,847 411,517 192,552 1,787,916 1,376,399	Company 30.6.2025 31.12.2024 US$ US$ 1,787,916 1,376,399 (1,787,916) (1,376,399) - - 1,376,399 1,183,847 411,517 192,552 1,787,916 1,376,399	Company 30.6.2025 31.12.2024 US$ US$ 1,787,916 1,376,399 (1,787,916) (1,376,399) - - 1,376,399 1,183,847 411,517 192,552 1,787,916 1,376,399

				-
				1,183,847 192,552
				1,376,399

Amount due from subsidiaries is non-trade related in nature, unsecured, interest-free and repayable on demand.

The amount due from subsidiaries is denominated in United States dollar.

9. Other receivables

Deposits Others		Group 30.6.2025 31.12.2024 US$ US$ 64,710 67,335 171,847 102,892 236,557 170,227		Company 30.6.2025 31.12.2024 US$ US$ 1,570 7,335 95,498 39,453 97,068 46,788	Company 30.6.2025 31.12.2024 US$ US$ 1,570 7,335 95,498 39,453 97,068 46,788	Company 30.6.2025 31.12.2024 US$ US$ 1,570 7,335 95,498 39,453 97,068 46,788

						46,788

Other receivables are denominated in the following currencies:

Singapore dollar United States dollar		Group 30.6.2025 US$ 97,068 139,489 236,557	Group	Group	31.12.2024 US$ 46,788 123,439 170,227		Company 30.6.2025 31.12.2024 US$ US$ 97,068 46,788 - - 97,068 46,788	Company 30.6.2025 31.12.2024 US$ US$ 97,068 46,788 - - 97,068 46,788	Company 30.6.2025 31.12.2024 US$ US$ 97,068 46,788 - - 97,068 46,788

									46,788

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

10. Cash and cash equivalents

Cash at banks Cash on hand		Group 30.6.2025 31.12.2024 US$ US$ 449,728 736,554 5,200 3,809 454,928 740,363		Company 30.6.2025 31.12.2024 US$ US$ 396,724 725,620 241 241 396,965 725,861	Company 30.6.2025 31.12.2024 US$ US$ 396,724 725,620 241 241 396,965 725,861	Company 30.6.2025 31.12.2024 US$ US$ 396,724 725,620 241 241 396,965 725,861

						725,861

Cash and cash equivalents are denominated in the United States dollar.

11. Accruals and other payables

Accrued expenses and other payables Withholding tax payables		Group 30.6.2025 31.12.2024 US$ US$ 93,964 369,902 76,934 73,811 170,898 443,713		Company 30.6.2025 31.12.2024 US$ US$ 69,728 308,545 76,698 73,701 146,426 382,246	Company 30.6.2025 31.12.2024 US$ US$ 69,728 308,545 76,698 73,701 146,426 382,246	Company 30.6.2025 31.12.2024 US$ US$ 69,728 308,545 76,698 73,701 146,426 382,246

						382,246

The accruals and other payables are denominated in the following currencies:

Australian dollar Singapore dollar British pound United States dollar		Group 30.6.2025 US$ - 42,145 - 128,753 170,898	Group	Group	31.12.2024 US$ 61,467 174,108 - 208,138 443,713		Company 30.6.2025 31.12.2024 US$ US$ - - 42,145 174,108 - - 104,281 208,138 146,426 382,246	Company 30.6.2025 31.12.2024 US$ US$ - - 42,145 174,108 - - 104,281 208,138 146,426 382,246	Company 30.6.2025 31.12.2024 US$ US$ - - 42,145 174,108 - - 104,281 208,138 146,426 382,246

									382,246

12. Share capital

30.6.2025 No. of shares Issued and fully paid ordinary share: At beginning of the financial period 65,955,935 Issuance of ordinary shares 49,677,762 At end of the financial period 115,633,697		Group and 31.12.2024 No. of shares 65,955,935 23,780,887 89,736,822	Group and	Company 30.6.2025 US$ 4,542,090 3,373,750 7,915,840		31.12.2024 US$ 4,542,090 1,527,485

At beginning of the financial period Issuance of ordinary shares At end of the financial period
						6,069,575

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

12. Share capital (Continued)

All issued shares are fully paid. There is no par value for these shares.

Class A and B shares have equal voting and dividends rights and are entitled to receive notices and attend general meetings of the Company. Class A and B shareholders have the right to attend and vote at their respective meetings of that particular share class with one vote for every share held. Class B ordinary shares shall be entitled to warrants and the right to exchange for shares. The fully paid Class B ordinary shares issued on conversion of warrants shall rank pari passu with existing issued fully paid Class B ordinary shares.

There was no issuance of Class A Ordinary shares during the period.

The Company issued 49,677,762 (30.9.2024:23,780,887) numbers of Class B Ordinary shares during the period.

13. Share application monies

At beginning of the financial period Shares allotted during the period Share application monies pending allotment Foreign currency translation At end of the financial period		Group and Company 30.6.2025 31.12.2024 US$ US$ 1,130,787 1,574,586 (1,132,704) (1,129,693) - 685,894 1,917 - - 1,130,787	Group and Company 30.6.2025 31.12.2024 US$ US$ 1,130,787 1,574,586 (1,132,704) (1,129,693) - 685,894 1,917 - - 1,130,787	Group and Company 30.6.2025 31.12.2024 US$ US$ 1,130,787 1,574,586 (1,132,704) (1,129,693) - 685,894 1,917 - - 1,130,787

				1,130,787

During the financial period, the number of share application monies pending allotment are Nil (2024: 18,144,342) of ordinary shares in the Company.

14. Other reserves

Bonus warrants reserve Equity-settled share options plan Broker option Foreign currency translation reserve		Group and Company 30.6.2025 31.12.2024 US$ US$ 734,586 734,586 279,309 279,309 52,875 52,875 10,207 2,387 1,076,977 1,069,157

Bonus warrants reserve

In 2023, the Group issued non-renounceable free bonus warrants of 20,988,174 with an expiry date of 28 February 2026. The exercise price of these options is US$0.05.

At beginning of the financial period Issuance of bonus warrants At end of the financial period		Group and Company 30.6.2025 30.9.2024 US$ US$ 734,586 734,586 - - 734,586 734,586	Group and Company 30.6.2025 30.9.2024 US$ US$ 734,586 734,586 - - 734,586 734,586	Group and Company 30.6.2025 30.9.2024 US$ US$ 734,586 734,586 - - 734,586 734,586

				734,586

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

14. Other reserves (Continued)

Equity settled share options plan

The Group has a share option plan for key management personnel and employees of the Group. The plan is administered by the Board of Directors. Options are exercisable at 50% premium on last share issue price. Options are vested on the grant date. Options are not transferable within one year from the issue date. If the options remain unexercised after a period of 5 years from the date of grant, the options expire.

On 11 May 2023, 4,500,000 share options were granted under the plan at an exercise price of US$0.05. Options are vested on the grant date. Options are not transferable within one year from the issue date. If the options remain unexercised after a period of 3 years from the date of grant, the options expire.

At beginning/end of the financial period		Group and Company 30.6.2025 31.12.2024 US$ US$ 279,309 279,309

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

14. Other reserves (Continued)

- Equity settled share options plan (Continued)

Movements in the number of unissued ordinary shares under the Employee Share Options Scheme and their exercise prices are as follows:

Date options granted 31 May 2020 18 August 2020 11 May 2023		Balance at 1 January 2025 3,635,570 4,275,000 4,500,000	Granted / during the financial period - - -	Granted / during the financial period - - -	Forfeited during the financial period (3,635,570) (150,000) (4,500,000)	Exercised during the financial period - - -	Balance at 30 June 2025 - 4,125,000 - 4,125,000	Exercise price per share US$0.20 US$0.25 US$0.05 7	Period exercisable 31 May 2020 to 31 May 2025 18 August 2020 to 31 August 2025 November 2024 to 31 May 2025

		12,410,570		-	(8,285,570)	-

The fair value of the share options granted during the financial period was determined using the Black-Scholes option pricing model. Significant inputs used in the valuation included the share price at the time of recent capital raisings, the exercise price of the options as disclosed above, an expected volatility of 25%, and a dividend yield of Nil. A risk-free interest rate of 3.645% was applied to all share options expected to expire within the next two years, based on the 2 years Australia Government bond yield. For share options expected to expire within two to three years, a risk-free interest rate of 3.575% was applied, based on the 3 years Australia Government bond yield. The expected life of the share options was estimated with reference to the respective vesting periods and the Group’s historical experience with similar grants.

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

14. Other reserves (Continued)

Broker option

On 30 September 2024, the Group issued 2 tranches of 1,150,000 options each expiring on 30 June 2027 at at an exercise price of A$ 0.12 and A$ 0.14 respectively to an independent party in accordance with the Mandate to Act as Lead Manager to Proposed Pre-IPO and IPO Capital Raisings letter dated 11 August 2023. These options were granted as part of the consideration for corporate advisory and capital raising services related to the Group’s planned Pre-IPO and IPO activities. The options were issued under the Company’s Employee Share Option Plan (ESOP), and are equity-settled. During the period, there is no share-based payment expense recognised in relation to these options.

Foreign currency translation reserve

Exchange differences relating to the translation of net assets in the Group’s foreign subsidiary from their functional currency into the parent’s functional currency, being United States Dollar, are accumulated in the foreign currency translation reserve.

15. Other income

Other income	Group 1.1.2025 to 30.6.2025 US$ 98	Group	1.1.2024 to 30.6.2024 US$ 10	Company 1.1.2025 to 30.6.2025 1.1.2024 to 30.6.2024 US$ US$ - -

16. Administrative and other expenses

	Group		Company	Company
	1.1.2025	1.1.2024	1.1.2025		1.1.2024
	to	to	to		to
	30.6.2025	30.6.2024	30.6.2025	30.6.2024
	US$	US$	US$		US$
Consultancy fee	6,896	27,869	6,896		27,868
Depreciation of property, plant
and equipment	11,049	3,018	7,719		-
Exploration and evaluation
expenses	330,989	476,363	122,092		176,717
Foreign exchange loss	11,462	2,979	1,159		2,905
Impairment loss on amount
due from subsidiaries	-	-	411,517		-
Legal and professional fee	112,321	34,076	27,248		15,972
Employee benefits expense
(Note 19)	87,908	21,000	57,330		-
Travelling expenses	18,634	1,348	17,769		-
Other operating expenses	436,521	53,339	116,657		44,289
	684,791	619,992	768,387		267,751

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

17. Employee benefits expense

	Group		Company	Company
	1.1.2025	1.1.2024	1.1.2025		1.1.2024
	to	to	to		to
	30.6.2025	30.6.2024	30.6.2025	30.6.2024
	US$	US$	US$		US$
Salaries	29,702	21,000		-		-
Seniority Expenses	726	-		-		-
Other staff benefits	150	-		-		-
Directors’ fee	57,330	-	57,330			-
	87,908	21,000	57,330			-

18. Income tax expense

Current income tax - Current period		Group and Company 1.1.2025 to 30.6.2025 1.1.2024 to 30.6.2024 US$ US$ - -

Relationship between tax expense and accounting loss

A reconciliation between tax expense and the product of accounting loss multiplied by the applicable corporate tax rate for the financial period ended 30 June 2025 and 30 June 2024 were as follows:

Loss before income tax Tax calculated at statutory tax rate of 17% (2024: 17%) Effects of: - expenses not deductible for tax purposes - deferred tax assets not recognised during the period - loss disregarded - effect of different tax rates in different countries		Group 1.1.2025 to 30.6.2025 US$ (684,791) (116,414) 34,750 16,158 75,721 (10,215) -	Group	Group	1.1.2024 to 30.6.2024 US$ (619,992) (105,399) 60,487 6,975 48,056 (10,119) -		Company 1.1.2025 to 30.6.2025 1.1.2024 to 30.6.2024 US$ US$ (768,387) (267,751) (130,626) (45,518) - - - - 130,626 45,518 - - - -	Company 1.1.2025 to 30.6.2025 1.1.2024 to 30.6.2024 US$ US$ (768,387) (267,751) (130,626) (45,518) - - - - 130,626 45,518 - - - -	Company 1.1.2025 to 30.6.2025 1.1.2024 to 30.6.2024 US$ US$ (768,387) (267,751) (130,626) (45,518) - - - - 130,626 45,518 - - - -

									(45,518) - - 45,518 -
									-

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

19. Significant related party transactions

In addition to the related party information disclosed elsewhere in the financial statements, the following significant related party transactions between the related parties took place at terms agreed between the parties during the financial period:

Directors Directors’ fee		Group 1.1.2025 to 30.6.2025 US$ 57,330	Group	Group	1.1.2024 to 30.6.2024 US$ -		Company 1.1.2025 to 30.6.2025 1.1.2024 to 30.6.2024 US$ US$ 57,330 -	Company 1.1.2025 to 30.6.2025 1.1.2024 to 30.6.2024 US$ US$ 57,330 -

								US$ -

20. Financial risk management

The Group’s activities expose it to a variety of financial risks from its operation. The key financial risks include credit risk, liquidity risk and foreign currency risk.

The directors review and agree policies and procedures for the management of these risks, which are executed by the management team. It is, and has been throughout the current and previous financial year, the Group’s policy that no trading in derivatives for speculative purposes shall be undertaken.

The following sections provide details regarding the Group’s exposure to the above-mentioned financial risks and the objectives, policies and processes for the management of these risks. There has been no change to the Group’s exposure to these financial risks or the manner in which it manages and measures the risks.

Credit risk

Credit risk is the risk of loss that may arise on outstanding financial instruments should a counterparty defaults on its obligations. The Group’s exposure to credit risks arises primarily from trade and other receivables. For other financial assets, the Group minimises credit risks by dealing exclusively with counterparties of high credit rating.

The Group has adopted a policy of only dealing with creditworthy counterparties. The Group performs ongoing credit evaluation of its counterparties’ financial condition and generally do not require a collateral. The Group considers the probability of default upon initial recognition of asset and whether there has been a significant increase in credit risk on an ongoing basis throughout each reporting period.

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

20. Financial risk management (Continued)

Credit risk (Continued)

The Group have determined the default event on a financial asset to be when internal and/or external information indicates that the financial asset is unlikely to be received, which could include default of contractual payments due for more than 60 days, default of interest due for more than 30 days or there is significant difficulty of the counterparty.

To minimise credit risk, the Group has developed and maintained the Group’s credit risk gradings to categorise exposures according to their degree of risk of default. The credit rating information is supplied by publicly available financial information and the Group’s own trading records to rate its major customers and other debtors. The Group considers available reasonable and supportive forward-looking information which includes the following indicators:

Internal credit rating
External credit rating
Actual or expected significant adverse changes in business, financial or economic conditions that are expected to cause a significant change to the debtor’s ability to meet its obligations
Actual or expected significant changes in the operating results of the debtor
Significant increases in credit risk on other financial instruments of the same debtor
Significant changes in the expected performance and behaviour of the debtor, including changes in the payment status of debtors in the group and changes in the operating results of the debtor

Regardless of the analysis above, a significant increase in credit risk is presumed if a debtor is more than 30 days past due in making contractual payment.

The Group determined that its financial assets are credit-impaired when:

There is significant difficulty of the debtor
A breach of contract, such as a default or past due event
It is becoming probable that the debtor will enter bankruptcy or other financial reorganisation
There is a disappearance of an active market for that financial asset because of financial difficulty

The Group categorises a receivable for potential write-off when a debtor fails to make contractual payments more than 120 days past due. Financial assets are written off when there is evidence indicating that the debtor is in severe financial difficulty and the debtor has no realistic prospect of recovery.

The Group’s current credit risk grading framework comprises the following categories:

Category	Definition of category	Basis for recognising expected credit loss (ECL)
I	Counterparty has a low risk of default and does not have any past-due amounts.	12-month ECL
II	Amount is >30 days past due or there has been a significant increase in credit risk since initial recognition.	Lifetime ECL – not credit impaired
III	Amount is >60 days past due or there is evidence indicating the asset is credit-impaired (in default).	Lifetime ECL – credit impaired
IV	There is evidence indicating that the debtor is in severe financial difficulty and the debtor has no realistic prospect of recovery.	Amount is written off

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

20. Financial risk management (Continued)

Credit risk (Continued)

The table below details the credit quality of the Group and the Company’s financial assets, as well as the maximum exposure to credit risk by credit risk rating categories:

Group 30 June 2025 Amount due from shareholders Amount due from directors Other receivables 31 December 2024 Amount due from shareholders Amount due from directors Other receivables Company 30 June 2025 Amount due shareholders Amount due from directors Amount due from subsidiaries Other receivables 31 December 2024 Amount due shareholders Amount due from a director Amount due from subsidiaries Other receivables	Note Category 12-month or lifetime ECL	Gross carrying amount Loss allowance Net carrying amount US$ US$ US$
	6 I 12-month ECL 7 I 12-month ECL 9 I 12-month ECL 6 I 12-month ECL 7 I 12-month ECL 9 I 12-month ECL Note Category 12-month or lifetime ECL	1,754 - 1,754 13,678 - 13,678 236,557 - 236,557
		10,955 - 10,955 11,383 - 11,383 170,227 - 170,227
		Gross carrying amount Loss allowance Net carrying amount US$ US$ US$
	6 I 12-month ECL 7 I 12-month ECL 8 I 12-month ECL 9 I 12-month ECL 6 I 12-month ECL 7 I 12-month ECL 8 I 12-month ECL 9 I 12-month ECL	1,754 - 1,754 13,678 - 13,678 1,787,917 (1,787,917) - 97,068 - 97,068
		10,955 - 10,955 11,383 - 11,383 1,376,399 (1,376,399) - 46,788 - 46,788

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

20. Financial risk management (Continued)

Credit risk (Continued)

The table below details the credit quality of the Group and the Company’s financial assets, as well as the maximum exposure to credit risk by credit risk rating categories:

Amount due from shareholders, amount due from subsidiaries, amount due from a director and other receivables

The Group assessed the latest performance and financial position of the counterparties, adjusted for the future outlook of the industry in which the counterparties operate in, and concluded that there has been no significant increase in the credit risk since the initial recognition of the financial assets. Accordingly, the Group measured the impairment loss allowance using 12-month ECL and determined that the ECL to be US$1,787,917 (2024: US$1,376,399).

Liquidity risk

Liquidity risk refers to the risk that the Group will encounter difficulties in meeting its short term obligations due to shortage of funds. The Group’s exposure to liquidity risk arises primarily from mismatches of the maturities of financial assets and liabilities. It is managed by matching the payment and receipt cycles. The Group’s operations are financed mainly through equity. Additional finance is obtained from the directors when required. The directors are satisfied that funds are available to finance the operations of the Group.

Analysis of financial instruments by remaining contractual maturities

The table below summarises the maturity profile of the Group and the Company’s financial assets and liabilities at the reporting date based on contractual undiscounted repayment obligations.

Group 30 June 2025 Financial assets Amount due from shareholders Amount due from directors Other receivables Cash and cash equivalents Total undiscounted financial assets Financial liabilities Accruals and other payables* Total undiscounted financial (liabilities) Total net undiscounted financial assets	Carrying amount Contractual cash flows Within 1 year 1 to 5 years US$ US$ US$ US$ 1,754 1,754 1,754 - 13,678 13,678 13,678 - 236,557 236,557 236,557 - 454,928 454,928 454,928 -
	706,917 706,917 706,917 -
	93,964 93,964 93,964 -
	(93,964) (93,964) (93,964) -
	612,953 612,953 612,953 -

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

20. Financial risk management (Continued)

Liquidity risk (Continued)

Analysis of financial instruments by remaining contractual maturities (Cont’d)

*	Group 31 December 2024 Financial assets Amount due from shareholders Amount due from a director Other receivables Cash and cash equivalents Total undiscounted financial assets Financial liabilities Accruals and other payables Total undiscounted financial (liabilities) Total net undiscounted financial assets Exclude non-financial instruments Company 30 June 2025 Financial assets Amount due from shareholders Amount due from directors Other receivables Cash and cash equivalents Total undiscounted financial assets Financial liabilities Accruals and other payables Total undiscounted financial liabilities Total net undiscounted financial liabilities	Carrying amount Contractual cash flows Within 1 year 1 to 5 years US$ US$ US$ US$ 10,955 10,955 10,955 - 11,383 11,383 11,383 - 170,227 170,227 170,227 - 740,363 740,363 740,363 -
		932,928 932,928 932,928 -
		369,900 369,900 369,900 -
		(369,900) (369,900) (369,900) -
		563,028 563,028 563,028 -
		Carrying amount Contractual cash flows Within 1 year 1 to 5 years US$ US$ US$ US$ 1,754 1,754 1,754 - 13,678 13,678 13,678 - 97,068 97,068 97,068 - 396,965 396,965 396,965 -
		509,465 509,465 509,465 -
		69,728 69,728 69,728 -
		(69,728) (69,728) (69,728) -
		439,737 439,737 439,737 -

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

20. Financial risk management (Continued)

Liquidity risk (Continued)

Analysis of financial instruments by remaining contractual maturities (Cont’d)

Company 31 December 2024 Financial assets Amount due from shareholders Amount due from a director Other receivables Cash and cash equivalents Total undiscounted financial assets Financial liabilities Accruals and other payables* Total undiscounted financial liabilities Total net undiscounted financial liabilities	Carrying amount Contractual cash flows Within 1 year 1 to 5 years US$ US$ US$ US$ 10,955 10,955 10,955 - 11,383 11,383 11,383 - 46,788 46,788 46,788 - 725,861 725,861 725,861 -
	794,987 794,987 794,987 -
	308,545 308,545 308,545 -
	(308,545) (308,545) (308,545) -
	486,442 486,442 486,442 -

Exclude non-financial instruments

Foreign currency risk

The Group has a certain degree of foreign currency risk arising from transactions denominated in Australian dollar (“AUD”), British pound (“GBP”), Myanmar kyat (“MMK”) and Singapore dollar (“SGD”). However, the Group does not use any hedging instruments to protect against the volatility associated with foreign currency.

No sensitivity analysis was performed as the impact on the Group and Company’s loss after tax was not material.

21. Capital management

The primary objective of the Group’s capital management is to ensure that it maintains a strong credit rating and net current asset position in order to support its business and maximise shareholder value.

The Group manages its capital structure and makes adjustments to it, in light of changes in economic conditions. To maintain or adjust the capital structure, the Group may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The Group is not subject to any externally imposed capital requirements. No changes were made in the objectives, policies or processes during the financial period ended 30 June 2025 and 31 December 2024.

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

22. Fair value of financial instruments

(a) Fair value hierarchy

The Group categorises fair value measurements using a fair value hierarchy that is dependent on the valuation inputs used as follows:

Level 1 – Quoted prices (unadjusted) in active market for identical assets or liabilities that the Group can access at the measurement date,
Level 2 – Inputs other that quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, and
Level 3 – Unobservable inputs for the asset or liability.

Fair value measurements that use inputs of different hierarchy levels are categorised in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement.

(b) Assets and liabilities not measured at fair value

Amount due from shareholders, amount due from subsidiaries, amount due from a director, other receivables, cash and cash equivalents, accruals and other payables, amount due to corporate shareholders and amount due to a director

The carrying amounts approximate their fair values due to the short-term nature of these balances.

23. Classification of financial instruments

At the reporting date, the aggregate carrying amounts of financial assets at amortised cost and financial liabilities at amortised cost were as follows:

Financial assets measured at amortised cost

Amount due from shareholders Amount due from directors Other receivables Cash and cash equivalents		Group 30.6.2025 31.12.2024 US$ US$ 1,754 10,955 13,678 11,383 236,557 170,227 454,928 740,363 706,917 932,928		Company 30.6.2025 31.12.2024 US$ US$ 1,754 10,955 13,678 11,383 97,068 46,788 396,965 725,861 509,465 794,987	Company 30.6.2025 31.12.2024 US$ US$ 1,754 10,955 13,678 11,383 97,068 46,788 396,965 725,861 509,465 794,987	Company 30.6.2025 31.12.2024 US$ US$ 1,754 10,955 13,678 11,383 97,068 46,788 396,965 725,861 509,465 794,987

						794,987

Financial liabilities measured at amortised cost

Accruals and other payables ****Exclude non-financial instruments		Group 30.6.2025 31.12.2024 US$ US$ 93,964 369,900		Company 30.6.2025 31.12.2024 US$ US$ 69,728 308,545	Company 30.6.2025 31.12.2024 US$ US$ 69,728 308,545

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

24. Event occurring after the reporting period

Subsequent to period end, the Share Exchange agreements the individual shareholders of the company had entered into with Unity Metals Limited (ACN 676 776 899) of Australia (UML), to allow shareholders to exchange their shares, warrants and options in the company for shares and options in UML was completed on 23 September 2025 and the company has now become a wholly owned subsidiary of UML. This was undertaken in preparation for the UML’s initial public offering (IPO) and intended listing on the Australian Securities Exchange, which is yet to be completed.

No other matters or circumstances have arisen since 30 June 2025 that have significantly affected, or may significantly affect the Company’s operations, the results of those operations, or the Company’s state of affairs in future financial years.

25. Authorisation of financial statements for issue

The consolidated interim financial statements of the Group and the statement of financial position of the Company for the financial period ended 30 June 2025 were authorised for issue in accordance with a resolution of the Board of Directors at the date of the Directors’ statement.

AI assistant

UNITY METALS LIMITED — Interim / Quarterly Report 2025

65980_rns_2026-01-07_2a512ca2-4943-493d-8f44-35b18df08d63.pdf

UNITY ENERGY & RESOURCES

(SINGAPORE) LIMITED

AND ITS SUBSIDIARIES

GENERAL INFORMATION

DIRECTORS

SECRETARIES

REGISTERED OFFICE

AUDITOR

Jayce & Co

PRINCIPAL BANKER

INDEX

DIRECTORS’ STATEMENT FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

INDEPENDENT AUDITOR’S REVIEW REPORT FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

Introduction

Scope of Review

Conclusion

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

INTERIM CONSOLIDATED AND SEPARATE STATEMENTS OF FINANCIAL POSITION AS AT 30 JUNE 2025

UNITY ENERGY & RESOURCES (SINGAPORE) LIMITED (Company Registration No.: 201416545M) AND ITS SUBSIDIARIES

INTERIM CONSOLIDATED AND SEPARATE STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE SIX-MONTHS PERIOD ENDED 30 JUNE 2025

INTERIM CONSOLIDATED AND SEPARATE STATEMENTS OF CHANGES IN EQUITY FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

INTERIM CONSOLIDATED AND SEPARATE STATEMENTS OF CHANGES IN EQUITY FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

1. Corporate information

2. Material accounting policy information

2.1) Basis of preparation

2.1a) Going concern

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

2. Material accounting policy information (Continued)

2.4) Basis of consolidation

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

2. Material accounting policy information (Continued)

2.4) Basis of consolidation (Continued)

2.5) Subsidiaries

2.6) Property, plant and equipment

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

2. Material accounting policy information (Continued)

Financial assets

Initial recognition and measurement

Subsequent measurement

Derecognition

Financial liabilities

Subsequent measurement

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

2. Material accounting policy information (Continued)

2.7) Financial instruments (Continued)

Financial liabilities (Continued)

Derecognition

2.8) Impairment of non-financial assets

2.9) Impairment of financial assets

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

2. Material accounting policy information (Continued)

2.10) Cash and cash equivalents

2.11) Share capital

2.12) Employee benefits

Short-term employee benefits

Share-based payments

2.13) Foreign currency

(a) Functional and presentation currency

(b) Transactions and balances

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

2. Material accounting policy information (Continued)

Current income tax

Deferred tax

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

2. Material accounting policy information (Continued)

Pre-mining rights costs

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

2. Material accounting policy information (Continued)

Exploration and evaluation costs

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

3. Significant accounting judgements and estimates

Determination of functional currency

Impairment of financial assets measured at amortised cost

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2025

3. Significant accounting judgements and estimates (Continued)

UNITY METALS LIMITED Interim / Quarterly Report 2025