UNITY METALS LIMITED — Interim / Quarterly Report 2026

Apr 29, 2026

Unity Metals

Quarterly Activities Report

For the period ending 31 March 2026

Quarter Highlights

• Listed on ASX on 12 January 2026
• First IPO of 2026
• Maiden 8,000 metre (50 hole) diamond drilling program commenced on Ngot Gold Project in Cambodia
• Assays from the first 6 holes returned high-grade gold intersections at Ngot Central Prospect
• Quarter end cash $4.483 million

Unity Metals Limited | ABN 40 678 776 899

Australia Level 2, 34 Colin Street | West Perth WA 6005 | AUSTRALIA

Cambodia 4A Street 36R | Khan Russey Keo | Phnom Penh 120703 | CAMBODIA

W: www.unitymetals.com.au

ASX:UM1

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Quarterly Activities Report for period ending 31 March 2026

Unity

South East Asia gold and copper explorer Unity Metals Limited (Unity or the Company) is pleased to provide its Quarterly Activities Report for the period ending 31 March 2026 (Quarter).

REVIEW OF OPERATIONS

Unity Metals Limited successfully listed on the ASX on 12 January 2026. The Initial Public Offering (IPO) raised $8.662 million (before costs) The Company subsequently commenced its maiden drilling program on the Ngot Gold Project (Ngot) in Cambodia (Figure 1).

Figure 1. Location of Unity Metals' gold projects in eastern Cambodia

Ngot Gold Project, Cambodia

The Company's "flagship" project is the Ngot Gold Project in Cambodia, where Unity's initial drilling has discovered high grade gold. The Ngot Gold Project is comprised of one Licence covering an area of 112.4 km², approximately 35 km west of Sen Monorom, the capital of Mondulkiri province, and 350 km northeast of Phnom Penh. The Ngot Gold Project adjoins the southern border of Emerald Resources' Okvau Gold Mine. As of 30 June 2025, the Okvau deposit had a Measured, Indicated and Inferred Mineral Resource of 15.4 Mt @ 1.9 g/t gold for 960,000 oz contained gold¹ (Emerald, August 2025). In addition, 409,000 oz of gold had already been produced since the commencement of commercial production in September 2021.

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Quarterly Activities Report for period ending 31 March 2026

Unity

There are multiple areas of historical and recently active artisanal gold mine workings within the Ngot Gold Project area. The primary gold mineralisation at the Ngot Gold Project is of the intrusion-related gold style, associated with quartz +/- arsenopyrite, pyrite, pyrrhotite veins hosted in diorites, granodiorites and surrounding sediments.

Unity Metals has undertaken previous exploration programs at the Ngot Gold Project from mid-2023, and has identified significant gold mineralisation at 5 prospect areas (Rohav Mountain, Ngot Central, Ngot NE, Srolao and Mesam South) (Figure 2). Strong, coherent and sizable gold-in-soil anomalies have been defined at each of the prospect areas and rock chip samples with high-grade gold results were obtained from mineralisation generally exposed in artisanal mine workings.

Figure 2. Ngot Gold Project area with gold prospect locations and soil sample gold results on satellite image.

Induced Polarisation (IP) geophysical lines were completed across the Ngot Central and Rohav Mountain prospect areas. At Ngot Central, the IP surveying located distinct, shallow-dipping chargeability anomalies beneath the strongest portion of the gold-in-soil anomaly and may be detecting the sulphides associated with gold-bearing mineralisation.

During the Quarter, Unity commenced a 50-hole, (8,000 m) diamond drilling program at the Ngot Gold Project. Targets at all 5 prospect areas are to be tested. At the end of the Quarter, approximately 60% of the planned holes had been completed, including the following holes (Figure 3):

• 16 holes (26DDNC001 – 016) for 2,529.8 m at Ngot Central Prospect;
• 7 holes (26DDRM001 – 007) for 1,413.5 m at Rohav Mountain Prospect; and
• 6 diamond holes (26DDSL001 – 006) for 787.4 m at Srolao Prospect.

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Quarterly Activities Report for period ending 31 March 2026

Unity

Assay results were received from 6 holes (26DDNC001 – 004, 006 & 010) completed at the Ngot Central Prospect, with high grade gold discovered in stacked zones of stockwork quartz – pyrite – arsenopyrite veins hosted in diorite and extending from surface (Figure 3). The best results in these holes include:

• 0.5m @ 18.4 g/t gold from 14.9 m (26DDNC006);
• 1m @ 21.8 g/t gold from 125.6 m (26DDNC006); and
• 4.9m @ 3.2 g/t gold from 34.7 m, incl. 0.4 m @ 34.5 g/t gold (26DDNC002).

Assays were pending at the end of the Quarter for all of the remaining holes completed at Ngot to date.

Figure 3. Gold in soil anomalies, rock chip sample gold results & drill holes at Ngot Central Prospect on the interpreted outline of the diorite intrusion that hosts the mineralisation (pink outline).

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Quarterly Activities Report for period ending 31 March 2026

Unity

O'Phlay Gold Project, Cambodia

The O'Phlay Gold Project is comprised of one Licence covering an area of 195.6 km² in Cambodia's Mondulkiri province, close to the Cambodia – Vietnam border (Figure 1). A relatively large, historical mining operation was present on site until 2020, processing primary and alluvial gold mineralisation.

The primary mineralisation is of intrusion-related gold style with gold mineralisation associated with quartz + arsenopyrite + pyrite veins hosted within and on the margins of a major 3.5 km x 2 km granodiorite intrusion and surrounding sediments.

Unity Metals has undertaken surface geochemical exploration programs at the O'Phlay Gold Project from August 2023, with strong, coherent and sizable gold-in-soil anomalies (>10 ppb gold) have been defined at the three prospect areas (Camp, Small Creek and Northern) (Figure 4). The largest and strongest soil anomaly (maximum 3,540 ppb gold) is located at the Camp Prospect and is associated with a broad zone (~40m wide) of gold-bearing stockwork quartz-arsenopyrite veins hosts in granodiorite. The best channel rock chip sample results from these veins include 5.5m @ 2.1g/t gold and 7m @ 1.4g/t gold, including 2m @ 4.6g/t gold. Unity also collected grab rock chip samples from the Camp Prospect with assays up to 21.4g/t gold and 322g/t silver.

During the Quarter, no exploration was conducted at O'Phlay. The Company progressed its preparations for remote sensing and geophysical surveys, including LiDAR, UAV magnetics and gradient-array Induced Polarisation (GAIP), that are scheduled to commence in the next Quarter.

Figure 4. Soil sample locations and gold results at O'Phlay Gold Project over the imaged gold-in-soil assay data.

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Quarterly Activities Report for period ending 31 March 2026

Unity

Ta Vaeng Copper Gold Project, Cambodia

The Ta Vaeng Copper Gold Project is comprised of one Licence application. Upon grant, the Project will cover an area of 199 km² in the Ratanakiri Province in northeastern Cambodia.

A 7 km x 5 km natural vegetation anomaly of grassland within the jungle occurs in the centre of the Project area (Figure 5). This grassland is associated with outcropping areas of strongly hydrothermally altered volcanic rocks (silicified). The Company believes these altered rocks may overlie mineralised porphyry intrusions. A molybdenum occurrence had also been recorded historically in the same area. Molybdenum is often found with porphyry copper-gold deposits.

During the Quarter, the Ta Vaeng licence application remained pending awaiting government approvals.

Figure 5. Satellite image depicting the 7 km x 5 km vegetation anomaly (pale brown area) at the Ta Vaeng Copper Gold Project.

Loei Copper Gold Project, Thailand

The Loei Gold Project is comprised of applications for 14 special prospecting licences (SPL's) covering an area of approximately 193.3 km² of the Loei Fold Belt in Northern Thailand. The Loei Copper Gold Project is located 400 km northeast of Bangkok in the Loei Province. The provincial capital, the city of Loei, is located 5 km west of the Project area.

The Loei Fold Belt is the major copper-gold metallogenic and magmatic belt in mainland South East Asia and has a history of mining, stretching back into ancient times. It extends across western and

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Quarterly Activities Report for period ending 31 March 2026

Unity

northern Cambodia, up through central Thailand and into northwestern Laos. The Loei Fold Belt principally consists of continental margin volcano-plutonic suites, and these rocks are closely associated with copper-gold mineralisation.

The Project surrounds the undeveloped PUT 1 Copper Gold Deposit, the largest copper deposit in Thailand, is immediately adjacent to the Loei Copper Gold Project area. The PUT 1 deposit has a reported Measured, Indicated and Inferred Mineral Resource of 183.0 Mt @ 0.50% copper and 0.13 g/t gold (0.3% copper cut-off) for 913,000 t contained copper and 771,000 oz contained gold².

The copper and gold mineralisation in the Loei Province area is closely associated with felsic and intermediate intrusions, which have distinctive signatures on the regional aeromagnetic data available from the Thailand Department of Mineral Resources.

The Loei Copper Gold Project will secure several other aeromagnetic features that are similar to those seen at the PUT 1 deposit, and a number of surficial geochemical anomalies and mineral occurrences, which will be the focal points for the Company's initial exploration (see Figure 6).

During the Quarter, the Company further progressed the applications for the 14 SPL's and at this stage the grant the licences is expected towards the end of the next Quarter.

Figure 6. Unity Metals' Loei Copper Gold Project area in northern Thailand with prospect locations and gold occurrences over an airborne magnetic image.

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Quarterly Activities Report for period ending 31 March 2026

Unity

Planned Exploration Activities for Next Quarter

During the next Quarterly reporting period, the Company expects to continue to focus its activities on the flagship Ngot Gold Project in Cambodia and to complete the planned 50-hole (8,000 m) diamond drilling program at Ngot. At this stage, the drilling program is expected to be completed by about the end of April 2026. Depending on the results of this drilling, the program may be extended.

Shortly after the Quarter-ended, the Company commenced remote sensing and geophysical surveys, including LiDAR, UAV magnetics and gradient-array Induced Polarisation (GAIP) at the O'Phlay Gold Project,. These surveys are focusing on the area of significant gold-in-soil anomalous in the northern portion of the granodiorite intrusion (Camp, Northern and Small Creek prospects) and should assist in finalising drilling targets. Diamond drilling testing of targets is also planned towards to end of the Quarter after the remote sensing and geophysical results have been received.

The Company will continue to progress the licence applications for the Ta Vaeng Copper-Gold Project in Cambodia and the Loei Copper-Gold Project in Thailand.

New Business Development Activities

The Company continues to assess new gold and copper-gold project opportunities, focusing on South East Asia.

CORPORATE

Cash & Cash Equivalents

The Company's cash and cash equivalents at the end of the quarter was $4.483 million. The Company's quarterly summary of financials is disclosed in the Appendix 5B – Consolidated Cashflow Statement.

Lapse of Employee Performance Rights

On 25 February 2026, 125,000 employee performance rights lapsed because the conditions have not been met.

Quoted Securities

The Company has 169,838,802 fully paid ordinary shares on issue of which 144,098,918 are quoted.

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Quarterly Activities Report for period ending 31 March 2026

Unity

SCHEDULE OF LICENCES - 31 MARCH 2026

			Exploration Licences - Cambodia
Project	Licence Number	Area (km²)	Grant Date	Expiry Date	Interest at Beginning of Quarter	Interest at End of Quarter	Acquired During the Quarter	Disposed During the Quarter	Joint Venture Partner
Ngot	012	112.4	04/08/2023	03/08/2030	85%	85%	-	-	Chhorvorn
O'Phlay	013	195.6	04/08/2023	03/08/2030	85%	85%	-	-	Chhorvorn
Ta Vaeng	Application	199.0	-	-	0%	0%	-	-	Chhorvorn
			Exploration Licences - Thailand
---	---	---	---	---	---	---	---	---	---
Project	Licence Number	Area (km²)	Grant Date	Expiry Date	Interest at Beginning of Quarter	Interest at End of Quarter	Acquired During the Quarter	Disposed During the Quarter	Joint Venture Partner
Loei 1	Application	15.84	-	-	-	-	-	-	-
Loei 2	Application	16.00	-	-	-	-	-	-	-
Loei 3	Application	16.00	-	-	-	-	-	-	-
Loei 4	Application	15.33	-	-	-	-	-	-	-
Loei 5	Application	13.61	-	-	-	-	-	-	-
Loei 6	Application	4.42	-	-	-	-	-	-	-
Loei 7	Application	14.95	-	-	-	-	-	-	-
Loei 8	Application	15.99	-	-	-	-	-	-	-
Loei 9	Application	10.21	-	-	-	-	-	-	-
Loei 10	Application	15.53	-	-	-	-	-	-	-
Loei 11	Application	9.67	-	-	-	-	-	-	-
Loei 12	Application	14.00	-	-	-	-	-	-	-
Loei 13	Application	15.75	-	-	-	-	-	-	-
Loei 14	Application	16.00	-	-	-	-	-	-	-

ASX DISCLOSURES

ASX Listing Rule 5.3.1

During the Quarter, the Company spent a total of $2.212 million on exploration and evaluation activities primarily on diamond drilling at the Ngot Gold Project in Cambodia where a 50-hole (8,000 m) program is underway.

ASX Listing Rule 5.3.1

During the Quarter, there were no mining production and development activities.

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Quarterly Activities Report for period ending 31 March 2026

Unity

ASX Listing Rule 5.3.3

During the Quarter, no mining licences were acquired/disposed of and no mining licences were farmed in or farmed out.

ASX Listing Rule 5.3.4

As required the table below details the indicative use of funds disclosed in the IPO Prospectus as amended and disclosed in the Pre-Quotation Disclosure Statement announced on 8 January 2026:

Indicative Use of Funds
Project	Indicative Use of Funds (2 Year Period) $	Actual Expenditure YTD $
Ngot Gold Project, Cambodia
Geological surveys	50,000	63,764
Geochemical surveys	50,000	-
Drilling	2,700,000	1,787,082
Access / field logistics	125,000	266,561
Licence / landowner /government	140,000	70,625
Total	3,065,000	2,188,032
O'Phlay Gold Project, Cambodia
Geological surveys	50,000	-
Geochemical surveys	100,000	-
Geophysical surveys	175,000	-
Drilling	600,000	-
Access / field logistics	50,000	19,055
Licence / landowner /government	140,000	4,725
Total	1,115,000	23,780
Ta Vaeng Copper Gold Project, Cambodia
Geophysical surveys	400,000	-
Access / field logistics	40,000	-
Licence / landowner /government	150,000	-
Total	590,000	-
Loei Gold Project, Thailand
Geological surveys	100,000	-
Geochemical surveys	200,000	-
Geophysical surveys	100,000	-
Drilling	600,000	-
Access / field logistics	40,000	-
Licence / landowner /government	210,000	-
Total	1,250,000	-
Total Exploration Expenditure	6,020,000	2,211,812
Cost of the Offers
Cost of the Offers	600,000	711,645
Corporate and Administration	1,400,000	806,328
Total	2,000,000	1,517,973

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Unity Metals

Quarterly Activities Report

For the period ending 31 March 2026

ASX Listing Rule 5.3.5

During the Quarter, payments made to related parties are outlined in sections 6.1, and 6.2 of the Appendix 5B – Consolidated Cashflow Statement consisting of $26,000 as payment of Directors fees to non-executive Directors..

• END -

This announcement is authorised for release by the Board of Unity Metals Limited

For further information on the Company's activities please contact:

Craig Mackay
E: craig@unitymetals.com.au
T: 0418 397 091

For Investor Relations queries:
Ben Henri
E: Ben.henri@mcpartners.com.au

For Media queries:
Christina Granger
E: christina.granger@mcpartners.com.au

Follow Unity on:
☐ https://x.com/UnityMetalsLtd
☎ https://www.linkedin.com/company/unity-metals-ltd

Unity Metals Limited | ABN 40 678 776 899
Australia Level 2, 34 Colin Street | West Perth WA 6005 | AUSTRALIA
Cambodia 4A Street 36R | Khan Russey Keo | Phnom Penh 120703 | CAMBODIA
W: www.unitymetals.com.au
ASX:UM1

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Quarterly Activities Report for period ending 31 March 2026

Unity

ABOUT UNITY METALS LTD

Unity Metals Limited, an ASX-listed company, is a SE Asia focused gold and copper explorer. It has established a large (~700km²) and highly prospective portfolio of gold and copper-gold Projects in Cambodia and Thailand. These Projects are prospective for intrusion-related gold and porphyry copper gold deposits. Its assets in Cambodia are located in close proximity to 2 operating gold mines, including the Okvau Mine, the largest gold mine in Cambodia. Okvau is a 1.3Moz deposit and shares a licence boundary with Unity's Ngot Gold Project. Unity's assets in Thailand are more copper focused and consist of licence applications in the Loei Fold Belt, one of the major copper-gold belts in mainland South East Asia.

QUALIFYING STATEMENTS

Previously reported exploration results

The information in this announcement relating to exploration results for the Company's projects is extracted from the following sources:

• Company's Prospectus dated 6 November 2025;
• Revised Independent Geologist's Report dated 2 January 2026 released to ASX on 8 January 2026; and
• ASX announcement on 27 March 2026.

Copies of which are available on the Company's website at www.unitymetals.com.au/ news-release and on the ASX market announcements platform at www.asx.com.au/markets/trade-our-cash-market/ historical-announcements using the code "UM1". In relation to the exploration results referred to in these releases, the Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement.

Competent Persons statement

The information in this report that relates to exploration results is based on information compiled by Shane Hibbird, a Competent Person, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Hibbird is the Exploration Manager of the Company and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Hibbird consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward-looking statements

This announcement may contain forward-looking statements, opinions and estimates. Forward-looking statements are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond the Company's control, and which may cause actual results to differ materially from those expressed in the statements contained in this document and the attached materials. You should not place undue reliance on these forward-

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Quarterly Activities Report for period ending 31 March 2026

Unity

looking statements. These forward-looking statements are based on information available to the Company as of the date of this announcement. Except as required by law or regulation the Company undertakes no obligation to update these forward-looking statements.

Proximate resources statements

This announcement contains references to other parties' resources at projects either nearby or proximate to Company's projects and/or references that may have topographical or geological similarities to the Company's projects. It is important to note that such exploration results, discoveries or geological similarities do not in any way guarantee that the Company will have any exploration success at all, or in delineating a mineral resource on any of the Company's projects.

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Rule 5.5

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Name of entity

UNITY METALS LIMITED
ABN	Quarter ended (“current quarter”)
40 678 776 899	31 March 2026
Consolidated statement of cash flows
---	---
1.	Cash flows from operating activities
1.1	Receipts from customers
1.2	Payments for
	(a) exploration & evaluation
	(b) development
	(c) production
	(d) staff costs
	(e) administration and corporate costs
1.3	Dividends received (see note 3)
1.4	Interest received
1.5	Interest and other costs of finance paid
1.6	Income taxes paid
1.7	Government grants and tax incentives
1.8	Other (payment of 2025 Accruals & Creditors)
1.9	Net cash from / (used in) operating activities
2.	Cash flows from investing activities
---	---
2.1	Payments to acquire or for:
	(a) entities
	(b) tenements
	(c) property, plant and equipment
	(d) exploration & evaluation
	(e) investments
	(f) other non-current assets

ASX Listing Rules Appendix 5B (17/07/20)

• See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows		Current quarter $A'000	Year to date (3 months) $A'000
2.2	Proceeds from the disposal of:
(a) entities
(b) tenements
(c) property, plant and equipment
(d) investments
(e) other non-current assets
2.3	Cash flows from loans to other entities
2.4	Dividends received (see note 3)
2.5	Other (provide details if material)
2.6	Net cash from / (used in) investing activities	(2,337)	(2,337)
3.	Cash flows from financing activities
3.1	Proceeds from issues of equity securities (excluding convertible debt securities)
3.2	Proceeds from issue of convertible debt securities
3.3	Proceeds from exercise of options
3.4	Transaction costs related to issues of equity securities or convertible debt securities
3.5	Proceeds from borrowings
3.6	Repayment of borrowings	(350)	(350)
3.7	Transaction costs related to loans and borrowings
3.8	Dividends paid
3.9	Other (IPO costs)	(711)	(711)
3.10	Net cash from / (used in) financing activities	(1,061)	(1,061)
4.	Net increase / (decrease) in cash and cash equivalents for the period
4.1	Cash and cash equivalents at beginning of period	8,687	8,687
4.2	Net cash from / (used in) operating activities (item 1.9 above)	(806)	(806)
4.3	Net cash from / (used in) investing activities (item 2.6 above)	(2,337)	(2,337)
4.4	Net cash from / (used in) financing activities (item 3.10 above)	(1,061)	(1,061)

ASX Listing Rules Appendix 5B (17/07/20)
+ See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows	Current quarter $A'000	Year to date (3 months) $A'000
4.5 Effect of movement in exchange rates on cash held
4.6 Cash and cash equivalents at end of period	4,483	4,483
5. Reconciliation of cash and cash equivalents	Current quarter $A'000	Previous quarter $A'000
---	---	---
at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts
5.1 Bank balances
5.2 Call deposits	4,483	8,687
5.3 Bank overdrafts
5.4 Other (provide details)
5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above)	4,483	8,687
6. Payments to related parties of the entity and their associates	Current quarter $A'000
---	---
6.1 Aggregate amount of payments to related parties and their associates included in item 1	26
6.2 Aggregate amount of payments to related parties and their associates included in item 2
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments.
7. Financing facilities
Note: the term “facility” includes all forms of financing arrangements available to the entity.
Add notes as necessary for an understanding of the sources of finance available to the entity.	Total facility amount at quarter end $A'000	Amount drawn at quarter end $A'000
---	---	---
7.1 Loan facilities	-	-
7.2 Credit standby arrangements	-	-
7.3 Other (please specify)	-	-
7.4 Total financing facilities	-	-
7.5 Unused financing facilities available at quarter end	-	-
7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.

ASX Listing Rules Appendix 5B (17/07/20)

• See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

8.	Estimated cash available for future operating activities	$A'000
8.1	Net cash from / (used in) operating activities (item 1.9)	(806)
8.2	(Payments for exploration & evaluation classified as investing activities) (item 2.1(d))	(2,212)
8.3	Total relevant outgoings (item 8.1 + item 8.2)	(3,018)
8.4	Cash and cash equivalents at quarter end (item 4.6)	4,483
8.5	Unused finance facilities available at quarter end (item 7.5)	-
8.6	Total available funding (item 8.4 + item 8.5)	4,483
8.7	Estimated quarters of funding available (item 8.6 divided by item 8.3)	1.485
Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7.
8.8	If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?
Answer: The entity does not expect to continue to have the current level of net operating cash outflows for the time being. The current level of cash outflows were due to one off IPO costs, accumulated salaries/wages of staff and other expenses from pre-IPO. The entity will complete its major drilling program in Cambodia in early May 2026 which will see a considerable reduction in cash outflows. The entity will also slow down its exploration program as planned over the monsoon season from around July until late October 2026/early November 2026.
8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?
Answer: The entity continually assesses its funding requirements. The entity has the capacity under Listing Rules 7.1 and is seeking shareholder approval to establish capacity under 7.1A. to raise additional working capital to fund its operations. The entity also has the ability to conduct a share purchase plan and or a pro-rata issue for the purpose of raising further funding.
8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?
Answer: The entity expects to be able to continue its operations and to meet its business objectives through a combination of its existing cash, the ability to vary expenditure at short notice and potential to obtain funds through the issue of equity when required.
Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered.

ASX Listing Rules Appendix 5B (17/07/20)

• See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Compliance statement

1. This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
2. This statement gives a true and fair view of the matters disclosed.

Date: 30 April 2026

Authorised by: Board
(Name of body or officer authorising release – see note 4)

Notes

1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity's activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.
2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.
3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.
4. If this report has been authorised for release to the market by your board of directors, you can insert here: "By the board". If it has been authorised for release to the market by a committee of your board of directors, you can insert here: "By the [name of board committee – eg Audit and Risk Committee]". If it has been authorised for release to the market by a disclosure committee, you can insert here: "By the Disclosure Committee".
5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council's Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.

ASX Listing Rules Appendix 5B (17/07/20)

• See chapter 19 of the ASX Listing Rules for defined terms.