Announcement PDF REVIEW OF OPERATIONS ANNUAL REPORT 2026 A YEAR OF PROGRESS & OPPORTUNITY REVIEW OF OPERATIONS CORPORATE DIRECTORY DIRECTORS James McKerlie Non-Executive Chairman Scott Phegan Executive Director Frank Bierlein Non-Executive Director Paul Ingram Non-Executive Director COMPANY SECRETARY Arron Canicais REGISTERED OFFICE & PRINCIPAL PLACE OF BUSINESS 9 Richardson Street West Perth WA 6005 Telephone: +61 (8) 6454 6666 Email: info@impactminerals.com.au Web: www.impactminerals.com.au AUDITOR Hall Chadwick WA Audit Pty Ltd 283 Rokeby Road Subiaco WA 6008 SHARE REGISTRY Automic Group Level 5, 126 Phillip Street Sydney NSW 2000 Telephone: 1300 288 664 (within Australia) or +61 2 9698 5414 (international) Email: hello@automicgroup.com.au Website: https://www.automicgroup.com.au/ SECURITIES EXCHANGE LISTING The Company is listed on the Australian Securities Exchange Ltd (“ASX”) Home Exchange: Perth, Western Australia ASX Codes: IPT, IPTO REVIEW OF OPERATIONS IMPACT MINERALS - ANNUAL REPORT 2026 1 TABLE OF CONTENTS Corporate Directory Chair’s Report 2 Review of Operations 4 Directors’ Report 15 Auditor’s Independence Declaration 33 Consolidated Statement of Pro t or Loss and Other Comprehensive Income for the Year Ended 30 June 2026 36 Consolidated Statement of Financial Position as at 30 June 2026 37 Consolidated Statement of Changes in Equity for the Year Ended 30 June 2026 38 Consolidated Statement of Cash Flows for the Year Ended 30 June 2026 39 Notes to the Consolidated Financial Statements 40 Directors’ Declaration 63 Independent Auditor’s Report 64 Additional Shareholder Information 70 Tenement Table 76 IMPACT MINERALS - ANNUAL REPORT 2026 1 REVIEW OF OPERATIONS CHAIR’S REPORT CHAIR’S REPORT Impact Minerals Limited (ASX: IPT) | 2026 Annual Report Year ended 30 June 2026 Dear Shareholders, It has been a year of change for Impact Minerals, but we now know what we want to be. The company will be a producer of high-purity alumina (HPA), based on our extensive resource in the salt lakes of Western Australia. We will use a best-in-breed, low-cost production system to make a range of HPA products for the booming markets in semiconductors, electronics, electric-vehicle batteries, LED lighting, synthetic sapphire, technical ceramics and more. HPA is a critical mineral, and the world cannot get enough of it given a predicted supply shortfall. We are embracing a new future with focus and purpose. Leadership and board renewal Peter Unsworth, the founding chairman, retired on 31 July 2025, and Paul Ingram served as interim chair until I joined on 8 June 2026. Scott Phegan joined as executive director on 12 December 2025. After the year end, on 25 September 2026, Dr Mike Jones stepped down as managing director after 20 years. Mike founded Impact and built the portfolio we hold today, including our push into HPA. On behalf of the board, I thank him. I have become executive chair while we position the company fully in HPA, and a chief executive will be appointed once that is done. Paul Ingram and Frank Bierlein will stand down at the coming annual general meeting (AGM), and I thank them both for their long service. A further board refresh is planned and under way. Vision and strategy Our vision is to become a signi cant producer of HPA. Our strategy is to derisk the pathways to HPA production, seeking to leverage by-product off-sets such as potash, to reach a solution that is technically sound and commercially attractive. We intend to work with proven providers on our pilot and demonstration HPA plants as we progress towards commercial HPA production. We will also present our portfolio of precious- and base-metal assets separately. Our shareholders are mostly retail investors, but the opportunity in front of us will need institutional capital. The board has therefore endorsed a 100-day plan, beginning in August 2026, with one objective: to make the company ready for institutional investment. The outcomes will be a new identity, a three-year strategy, a business plan for the critical rst year, a capital management plan, an organisational structure to support the strategy, investment in our people, a performance and remuneration system and risk and ESG frameworks. It also means a more professional culture, with clear roles, sound systems and good governance, while keeping the cooperative spirit that has served the company well. This is about building the company for long-term success. We will report on these outcomes progressively, and all should be in place by the end of the calendar year. Operations Lake Hope (80%) Feasibility and test work continued to derisk our core HPA project in Western Australia. A pilot plant is in advanced planning, and construction partners are tendering for the build. This is a major project, and I remind shareholders that the pre-feasibility study (PFS) showed a NVP10 of A$1.165 billion and post-tax IRR of 47%. We have also begun scoping a potash and hydrochloric acid opportunity at nearby Salmon Gums (Kumarl), and initial scoping studies have produced encouraging results. 2 IMPACT MINERALS - ANNUAL REPORT 2026 IMPACT MINERALS - ANNUAL REPORT 2026 3 REVIEW OF OPERATIONS Alluminous (50%) This valuable investment has its pilot plant in Perth and rst HiPurA® HPA samples were sent to Charge CCCV, a US battery-technology company, for testing. On 7 September 2026 we released an independent Scoping Study for a staged plant producing 2,000 to 4,000 tonnes a year, which favoured a US location. Further work is needed to derisk this early-stage study. Commonwealth-Silica Hill With this gold and silver opportunity we have partnered with Kuniko (ASX: KNI), which earned a 51% interest on 11 August 2026, one year ahead of schedule, by funding all exploration. Drilling extended high-grade mineralisation at Silica Hill, and an updated resource estimate is expected before the end of the calendar year. If Kuniko earns 70%, we will keep a 30% interest, free carried to a decision to mine. Financial position The net loss after tax was $4.89m, against $9.02m last year. We raised $4.1m from a September 2025 placement, $2m from a placement in March 2026 and, after the year end, $2.2m in a rights issue. The rights issue raised less than the maximum offered, in a demanding market for small- cap resource companies. Our broker is managing the shortfall, and we are con dent it can place a material part of it. I have imposed strict cost controls, and we will pursue grants and approach further capital raising with discipline. Governance We have established an audit and risk committee and a remuneration and nominations committee, and both have worked diligently. A board refresh was necessary, and we expect to announce the new directors by the AGM. Outlook The outlook for the company is promising, and we expect that a clear focus will bring shareholders some joy through a share price recovery. We are on a long journey towards a commercial HPA plant. Such plants can be highly pro table and create value, but they take expertise, capital, good management and hard work. I am con dent we have the team to do it. We have relationships with prospective partners, bankers and customers. Our industry peers, who pioneered this journey and from whom we can learn, have created enormous value for their shareholders. We intend to follow their growth and emulate their success. I thank you for your support as shareholders and encourage you to continue your participation in our commercial HPA journey. Jim McKerlie Executive Chair Important notices Scoping Study The Alluminous Scoping Study is a preliminary study with an accuracy of approximately ±50%. It is insuf cient to assure an economic development case, and there is no certainty that the outcomes in the ASX announcement of 7 September 2026 will be realised. Further pilot work, permitting and funding are required. Refer to that announcement for all assumptions. Forward-looking statements This report contains forward-looking statements. Actual results may materially differ. CHAIR’S REPORT REVIEW OF OPERATIONS REVIEW OF OPERATIONS IMPACT MINERALS - ANNUAL REPORT 2026 5 REVIEW OF OPERATIONS LAKE HOPE 1. LAKE HOPE HIGH-PURITY ALUMINA PROJECT, WA - Playa One Pty Ltd 100% Lake Hope is the foundation of the Company’s HPA strategy. The year’s work focused on advancing the project from a completed Pre-Feasibility Study towards a De nitive Feasibility Study. It continued working towards demonstrating its granted HPA patent process in a federal government co-funded pilot plant. The Lake Hope Project is located 550km east of Perth, WA, and comprises two small salt lakes containing sulphate minerals at surface. The PFS assumes the ore will be excavated and transported to Perth for processing via Impact’s patented process and then re ned to produce high-purity alumina. HPA is listed on the Australian Critical Minerals List and is a vital component of many modern technologies, including semiconductor manufacturing, battery applications for electromobility and storage, and advanced ceramics and electronics, with demand independently forecast to grow by 10-20% a year (ASX: AEM, Investor Presentation March 2026, Listcorp). Figure 1.1 Location of the Lake Hope HPA and Kumarl (Salmon Gums) Potash and Hydrochloric Acid Project in Western Australia. Building on the success of the published PFS, the Company initiated and completed the acquisition of an 80% interest in Playa One Pty Ltd, the owner of the Lake Hope Project, by issuing IPT shares to the vendors on 28 July 2025 to complete the transaction. This followed the successful completion of a Pre-Feasibility Study, which con rmed robust project economics (ASX Release 17 June 2025). Key activities of the Pre-Feasibility Study The PFS and Maiden Ore Reserve were released in the prior nancial year (ASX release 17 June 2025). The PFS’s key outputs were: PFS metric Result Post-tax NPV10 A$1.165bn Internal rate of return 47% Production rate 10,000 tpa of 4N HPA Mine life 33 years Pre-production capital A$259m Operating cost US$5,860/t Payback 2.2 years Table 1.1 Lake Hope PFS Summary Table (ASX Release 17 June 2025). (IPT 80%, Playa Two Pty Ltd 20%) 6 IMPACT MINERALS - ANNUAL REPORT 2026 REVIEW OF OPERATIONS Source: ASX release 17 June 2025, as summarised in the September 2025 and June 2026 quarterly reports. Figures are before by-product credits. Note: Impact con rms that all the material assumptions underpinning the production target, and the forecast nancial information derived from the production target, in the Pre-Feasibility Study announced on 17 June 2025 continue to apply and have not materially changed. Technical work completed during the year During the year, the Company progressed the Lake Hope HPA project from the completed PFS towards a De nitive Feasibility Study (DFS), with a pilot plant program continuing at Edith Cowan University (ECU) under the CRC-P co- funded research grant (ASX Release 22 October 2024). Key achievements over the year included: • Stage 1 (potash recovery). Bench-scale membrane crystallisation of the potash by-product from Stage 1 of the process was successfully completed, a key factor in reducing operating costs (ASX Release 9 January 2026). Figure 1.2 Crystals of high-purity Sulphate of Potash (K2 SO4 ) produced by ECU’s direct membrane crystallisation. • ECU identi ed a preferred Stage 1 potassium hydroxide-based leaching route under which almost all wash water can be recycled. Potash by-product purity increased from 94% to 98%. Figure 1.3 Patented metallurgical owsheet for Impact’s 3-stage HPA process. Stage 1 is shown in detail with Stages 2 and 3 simpli ed. IMPACT MINERALS - ANNUAL REPORT 2026 7 REVIEW OF OPERATIONS • Stage 1 pilot plant. Engineering studies began in the March 2026 quarter. At year end, design and equipment procurement were advanced. • Stage 2 (hydrochloric acid leach). Test work began on leach conditions and on membrane-based acid recovery. A method of removing iron from the acid was identi ed and is being assessed for commercial viability. Other DFS-related work during the year included: • CPC Engineering initiated a vendor quali cation review of capital items identi ed in the PFS as needing further investigation. A tender for the alumina calciner produced a shortlist of technologies for further testing. A review of acid regeneration identi ed two established technologies, with nal selection subject to further technical and economic modelling. • Ten lake sediment bulk samples of ore were collected from E63/2086 for metallurgical characterisation and variability studies. Planning began for a 1,000-tonne test pit and trial ROM pad to validate the mining methods proposed in the PFS. • Geotechnical investigations for mining on the lake surface commenced, with penetrometer testing and further geotechnical test work scheduled, alongside early-stage environmental monitoring programs. • Detailed mineralogy and specialist assay work continued, with samples sent to Momentum Transfer in Germany for synchrotron-XRD analysis, and HPA product shipped to Euro ns EAG in Syracuse, New York, for benchmark assay by Glow Discharge Mass Spectrometry (GDMS), with a particular focus on uranium and thorium content given the exceptionally low values required for entry into the semiconductor applications. • Engagement continued with the Ngadju Native Title Aboriginal Corporation RNTBC (NNTAC), including a review of the native title heritage agreement and progress on the mining lease application (M63/684). • Grant application options were assessed, prepared and lodged with government programs supporting critical minerals and low-carbon manufacturing. • Exploration licences related to joint venture agreements which have been surrendered during the year include three of the four Southern Sky Energy Joint Venture tenements, namely E63/2257, E63/2492 and E63/2493. 2. KUMARL (SALMON GUMS) POTASH AND HYDROCHLORIC ACID PROJECT, During the year, a new development pathway was identi ed to produce sulphate of potash (SOP) and hydrochloric acid (HCl) as primary products from lake sediments 24km north of Salmon Gums (WA), located 600km east of Perth and closer to potential markets in the Wheatbelt and Gold elds (ASX Release 6 February 2026). Metallurgical test work demonstrated high recoveries of sulphate (greater than 94%) from salt calcination of lake sediments, along with strong chlorine extraction (greater than 98%). Indicative market enquiries for imported SOP in Western Australia suggested pricing of A$800-1,200 a tonne, and for hydrochloric acid of A$650 to more than A$1,000 a tonne. A total of 58 drill holes (auger and push tube) were drilled, indicating relatively uniform beds of sulphate minerals 0.5-2m thick, with average grades of more than 20% alumina (Al2 O3 ), 5% potassium oxide (K2 O) and 20% sulphate (SO3 ) (ASX Release 20 March 2026). An Exploration Target of 3.8m-4.3m tonnes of suphate-rich sediment, containing 1.4m-1.7m tonnes of sulphate of potash, was de ned within the two lakes comprising the Kumarl Project (E63/2318). Note: The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insuf cient exploration to estimate a Mineral Resource, and it is uncertain whether further exploration will result in the estimation of a Mineral Resource. Figure 2.1 Exploration drilling and sampling at the Kumarl Project WA - Playa One Pty Ltd 100% (IPT 80%, Playa Two Pty Ltd 20%) 8 IMPACT MINERALS - ANNUAL REPORT 2026 REVIEW OF OPERATIONS Later in the year, an in ll drill program was completed at the Kumarl Project at suf cient density to allow estimation of a Maiden Mineral Resource, if the results support it. Signi cant progress was made on a Scoping Study for the project, based on a nominal production rate of 50,000 tonnes per year of potash, incorporating process modelling, equipment selection favouring off-the-shelf and proven technologies, and initial vendor selection. Further metallurgical test work on ore preparation and calcination criteria was also completed, and independent consultants were appointed to review the mass balance, process ow diagrams and crystallisation circuit for the sulphate of potash. Figure 2.2 Drilling results and the Exploration Target model for Kumarl’s alumina grades spanning Wishy Lake (left) and Bane Lake (right). Investors should note that the potential size and grade of the clay deposits at Kumarl are conceptual in nature. Insuf cient work has been undertaken to estimate a JORC 2012-compliant Mineral Resource Estimate, and it is uncertain whether further exploration will result in the estimation of a Mineral Resource. Wishy Lake Grade Contained Metal Tonnes Al2 O3 % K2 O% SO3 % Al2 O3 K2 O SO3 Minimum 2,750,000 19.84 4.90 18.57 545,500 135,000 511,000 Maximum 3,200,000 22.34 5.16 18.61 715,000 165,000 596,000 Bane Lake Grade Contained Metal Tonnes Al2 O3 % K2 O% SO3 % Al2 O3 K2 O SO3 Minimum 1,042,000 24.25 5.04 20.44 252,500 52,500 213,000 Maximum 1,105,000 24.87 5.16 20.82 275,000 57,000 230,000 TOTAL Grade Contained Metal Tonnes Al2 O3 % K2 O% SO3 % Al2 O3 K2 O SO3 Minimum 3,792,000 21.00 4.90 19.09 798,000 187,500 724,000 Maximum 4,305,000 23.00 5.20 19.19 990,000 222,000 826,000 Table 2.3 Exploration Target Kumarl E63/2318 3. ALLUMINOUS PTY LTD (IPT 50%) Impact holds a 50% interest in Alluminous Pty Ltd, which owns HiPurA® - a high-purity alumina processing technology, and operates a pilot plant in O’Connor, Western Australia. The Alluminous process is a modular and scalable solvent extraction (SX) process using a sulphate-based chemical feedstock to produce HPA. Alluminous provides Impact with a second, independent process route to HPA. During the year, the commissioning of the pilot plant progressed to successful batch-mode operation, producing HPA and precursor materials to internal quality speci cations, with continuous-mode operation targeted as the next key performance indicator. Alluminous operates an on-site high-purity analytical laboratory to facilitate HPA manufacture. Peter Barnes, a chemical engineer, was appointed chief operating of cer to oversee pilot plant optimisation. In October 2025, Alluminous signed a Technology Development Agreement with American battery-materials company Charge CCCV LLC (C4V), and during the subsequent quarter this was formalised into a Technology Collaboration Agreement under which Alluminous and C4V agreed to jointly develop and qualify Alluminous HPA for a range of battery applications, including separator coatings, ceramic layers, solid-state components and electrode interface IMPACT MINERALS - ANNUAL REPORT 2026 9 REVIEW OF OPERATIONS materials. The agreement is non-exclusive and involves no binding offtake, and provides for full cell testing by C4V, replicating the quali cation requirements of global battery OEMs. A signi cant operational milestone was reached during the year with the preparation and shipping of approximately 15kg of Alluminous HPA samples to C4V’s laboratory and pilot-scale facilities at the Centre of Excellence at Binghamton University, New York – the rst signi cant quantities of HPA produced and dispatched from the Alluminous pilot plant, achieved just nine months after Impact’s initial investment in the technology. Figure 3.1 Alluminous HPA sample batches prepared for shipment to C4V. Alluminous Managing Director, David Leavy, held a series of investor and industry meetings in New York, Washington DC and San Francisco, discussing Alluminous’ commercialisation pathway across battery, AI, data centre, defence, semiconductor, optics and photonics markets. Alluminous extended a Scoping Study for a nominal 2,000-tonne-a-year commercial production facility during the year to include costs for an American-based facility. This aligns with the Alluminous strategy, supported by shareholder Amvest Capital, a New York advisory rm and critical minerals fund manager, to establish production in North America amid a growing emphasis on American supply-chain security. The particle engineering phase of the joint development program was completed, in which Alluminous’ HPA was processed using C4V’s proprietary dry particle engineering technology to produce material suitable for advanced lithium-ion battery separator coatings. The independent test work con rmed the engineered material retained its purity through the process and achieved the required particle size distribution and morphology for separator coating applications, and demonstrated successful preparation of stable, sodium-free, water-based slurries – an important step towards commercial battery quali cation. Additional sample requests for HPA were also received from European and Middle East-based customers for the arti cial sapphire industry. COMMONWEALTH 4. COMMONWEALTH–SILICA HILL GOLD–SILVER PROJECT, NSW (IPT 100%; KUNIKO LIMITED EARNING UP TO 70%) Commonwealth–Silica Hill illustrates the Company’s approach to its precious and base metals: high-quality ground advanced through partner funding that carries Impact’s interest, preserving capital for the HPA strategy. The Commonwealth–Silica Hill Project comprises 565km2 in the northern part of the Lachlan Fold Belt in New South Wales, approximately 100km north of Orange, in a region hosting major mines including Cadia (Newmont), Northparkes and Cowal (Evolution Mining), and lying immediately along trend from Alkane’s Boda–Kaiser copper-gold deposit. 10 IMPACT MINERALS - ANNUAL REPORT 2026 REVIEW OF OPERATIONS Figure 4.1 The Commonwealth–Silica Hill Project and major gold-copper deposits in the Lachlan Fold Belt. Figure 4.2 Plan map of Commonwealth and Silica Hill mineralisation models presenting the six Phase 1 Kuniko Limited drillholes (white traces). IMPACT MINERALS - ANNUAL REPORT 2026 11 REVIEW OF OPERATIONS The Project holds two key related deposits within 200 metres of each other: Commonwealth, a gold-silver system with massive sulphide lenses, recognised as a high sulphidation, gold-rich volcanogenic massive sulphide (VMS) deposit; and Silica Hill, a silver-rich vein system. Impact’s earlier work de ned JORC (2012) Inferred Resources across both deposits, prepared by independent resource consultants Optiro (ASX Release 22 August 2019). On 3 October 2025, Impact announced that it had agreed terms for a joint venture over the Project with Kuniko Limited (ASX: KNI). Under the Earn-In and Joint Venture Agreement, Kuniko issued 3,125,000 shares to Impact (50% escrowed for six months and 50% for 12 months) to earn a 51% interest by spending $1.5m within two years, and a 70% interest by spending a further $1.5m within the following two years (ASX release 3 October 2025). Kuniko free-carries Impact’s 30% interest to a Decision to Mine, at which point Impact may elect to contribute or dilute to 10%, converting to a 2% Net Smelter Royalty. During the year, Kuniko rapidly advanced the Project. A MobileMT™ airborne electromagnetic (EM) survey (approximately 328 line-km) identi ed a roughly 4km-long conductive corridor extending from Commonwealth Mine towards Silica Hill, consistent with, and materially advancing, Impact’s existing geological model. Soil geochemistry and rock-chip sampling at the Geenobby and Gladstone West targets returned a rock-chip result of 6.02 g/t Au and 28.7 g/t Ag (with elevated Bi-Te-Mo), extending a mineralised trend to the north (ASX Release 15 January 2026). In February and March 2026, Kuniko completed its maiden (Phase 1) diamond drilling programme of six holes for 1,239m across Commonwealth Main, Commonwealth South and Silica Hill. All six holes intersected sulphide mineralisation. Drilling at Commonwealth Main extended mineralisation by 20m and demonstrated it is open at depth. At Silica Hill, drilling revealed new mineralisation 100m from known drilling and remains open along strike and at depth. Final assay results are summarised below (ASX: IPT releases 22 April and 5 May 2026; ASX: KNI releases 22 April, 5 May, 21 May and 27 May 2026). • Commonwealth Main, hole CMKNI001: 8.0m at 3.3 g/t Au, 186 g/t Ag, 5.6% Zn, 2.2% Pb and 0.12% Cu from 94.7m, including 3.8m at 6.5 g/t Au, 385 g/t Ag, 11.5% Zn, 4.6% Pb and 0.25% Cu – extending high-grade mineralisation approximately 20m below historical drilling. • Commonwealth Main, hole CMKNI002: 4.0m at 0.8 g/t Au, 45 g/t Ag, 9.2% Zn, 1.1% Pb and 0.65% Cu from 103m; both holes show the lens remains open at depth. • Silica Hill, hole CMKNI003: 50m at 1.0 g/t Au, 59 g/t Ag, 0.14% Zn and 0.10% Pb from 74m, including 20m at 2.1 g/t Au, 43 g/t Ag, 0.22% Zn and 0.15% Pb from 103m. • Silica Hill, hole CMKNI004: 84m at 0.6 g/t Au, 123 g/t Ag, 0.16% Zn and 0.08% Pb from 226m, including a very high-grade 0.5m vein of 27 g/t Au and 20,603 g/t Ag from 230m, which extended mineralisation approximately 100m and remains open. • Commonwealth South, hole CMKNI006: 7.1m at 8.4 g/t Au, 42 g/t Ag, 1.5% Zn and 0.7% Pb from 79.9m, including 3.1m at 18.6 g/t Au, 76 g/t Ag, 3.4% Zn, 1.5% Pb and 0.4% Cu. • CMKNI005 intersected lower-grade sulphides outside the known zone with 16m at 0.15% Zn, 0.6 g/t Au and 0.08% Cu, demonstrating alteration continues. BROKEN HILL 5. BROKEN HILL PROJECT, NSW (IPT 100%) The Broken Hill Project represents a strategic tenement position for farm-out, sale or monetisation to fund the company’s HPA strategy, as well as an organic growth opportunity for high-impact exploration success. Impact holds one of the largest ground positions in the Broken Hill region, surrounding the world-class Broken Hill silver-lead-zinc deposit, which contained more than 500 million tonnes of massive sulphide mineralisation prior to its discovery in the 1880’s. The Company’s tenements are prospective for three styles of mineralisation: early-stage large sedimentary or magmatic copper deposits (a concept developed during Impact’s participation in the inaugural BHP Xplor program in 2023); high-grade magmatic nickel-copper-PGE sulphides associated with late-stage (820 Ma) ultrama c to ma c intrusions (Platinum Springs, Red Hill and Rockwell–Little Broken Hill); and Broken Hill-style silver-lead-zinc mineralisation, including the Dora East prospect. During the year the Company advanced its copper project via continuation of exploration efforts catalysed by the BHP Xplor program, focusing on geophysical surveys aimed at delineating major mineral system footprints. To pursue this strategy, the Company remodelled its 30 line-kilometre magnetotelluric (MT) ground geophysical survey after integrating its data with Australian Lithospheric Architecture Magnetotelluric Project (AUSLAMP) regional MT data. Three near-surface conductive zones (T1, T2 and T3) were identi ed within one kilometre of the surface. One modelled conductance inversion identi ed an extensive, steeply dipping conductive zone connecting a deep AUSLAMP conductor (at approximately 20km depth) to a near-surface anomaly (T3), adjacent to the Redan Fault. T3 is located within an in-fold of the Willyama Supergroup interpreted as an embayment of basin rocks into the basement (ASX Release 27 February 2026). (IPT 80%, Southern Sky Energy 20%) 12 IMPACT MINERALS - ANNUAL REPORT 2026 REVIEW OF OPERATIONS Platinum Group Element and zinc-lead exploration efforts during the year included marketing the prospects for joint venture or sale, geological interpretation, land access negotiations and tenement administration. During the year, the Company acquired a 100% interest in a 55km2 tenement (EL8024) from Sozo Resources Pty Ltd for consideration of $125,000 in Impact shares (escrowed for six months), $25,000 cash and a 1% Net Smelter Royalty (ASX Release 23 January 2026). EL8024 covers the historic Huonville gold district, 25km southeast of Broken Hill. The acquisition extended Impact’s ground holding to approximately 1,985km2 , almost surrounding the Broken Hill deposit. The Huonville gold eld, covering roughly 64km2 , was subject to small-scale gold mining from 1931 to 1935, and legacy rock chip samples have returned assays of up to 82 g/t gold, 21 g/t silver, 0.4% bismuth and 0.26% copper. SOUTHERN SKY 6. SOUTHERN SKY ENERGY JOINT VENTURE, WA The Southern Sky Energy Joint Venture is a non-core gold exploration asset located in the Murchison Terrane of Western Australia and forms an opportunity for monetisation or divestiture. In the March quarter, the Company withdrew from the Jumbo, Narryer and Peak Hill projects because of a lack of encouraging results. Impact invested in early-stage works to generate evidence of gold mineralisation within the Dalgaranga tenure via completion of in ll soil sampling and mapping programs. ARKUN 7. ARKUN-BEAU PROJECT, WA (IPT 100%) The Arkun-Beau Project located in the Western Gneiss Terrane of Western Australia was acquired following terrane boundary interpretation forming a prospective location for nickel and PGE mineralisation. During the year, work included the successful application for a Western Australian Exploration Incentive Scheme (EIS) co-funded drilling, geophysical modelling, soil and rock chip sampling, mapping and land access negotiations with farmers and graziers. Impact developed a series of targets via the use of airborne EM and airborne MT geophysical surveys, soil sampling and mapping. However, because of an inability to gain access for the EIS drilling, and with tenement holding costs increasing, it was concluded that no reasonable prospect for success existed. The Project was relinquished in stages following a review and rationalisation process that focused the Company’s efforts on HPA development. MINERAL RESOURCES AND ORE RESERVES STATEMENT BASIS OF REPORTING Impact Minerals Limited (Impact or the Company) reports its Mineral Resources and Ore Reserves as at 30 June 2026, in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) and ASX Listing Rule 5.21. Mineral Resources