Announcement PDF IMPACT MINERALS LIMITED (and Controlled Entities) ABN 52 119 062 261 HALF-YEAR FINANCIAL REPORT 31 December 2025 HALF-YEAR FINANCIAL REPORT 31 DECEMBER 2025 Page 1 of 24 CONTENTS DIRECTORS’ REPORT........................................................................................................................................................... 2 AUDITOR’S INDEPENDENCE DECLARATION ............................................................................................................. 8 CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 .......................................... 9 CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025...........................................................................................................................................................10 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 ...........................................................................................................................................Syntax Warning: Invalid Font Weight 11 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE HALF-YEAR ENDED 31 DECEMBER 2025...........................................................................................................................................................12 NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 ...........................................................................................................................................13 DIRECTORS’ DECLARATION............................................................................................................................................22 INDEPENDENT AUDITOR’S REVIEW REPORT...........................................................................................................23 HALF-YEAR FINANCIAL REPORT 31 DECEMBER 2025 Page 2 of 24 DIRECTORS’ REPORT Your Directors submit the financial report of the consolidated entity for the half-year ended 31 December 2025. DIRECTORS The names of directors who held office during or since the end of the half-year and until the date of this report are as below. Directors were in office for this entire period unless otherwise stated. • Peter Unsworth – Non-Executive Chairman (resigned 31 July 2025) • Michael Jones – Managing Director • Paul Ingram – Non-Executive Director (became Chairman effective 1 August 2025) • Frank Bierlein – Non-Executive Director • Scott Phegan – Executive Director (appointed 12 December 2025) PRINCIPAL ACTIVITIES The principal activity of the Group during the financial half-year was to continue works to progress the right to earn an 80% interest in the Lake Hope High Purity Alumina Project and exploration for deposits of nickel, gold, copper and platinum group elements mostly within Western Australia. REVIEW OF OPERATIONS The six months to December 2025 has been one of the most strategically significant periods in Impact Minerals' history. We have moved meaningfully beyond the role of explorer and are actively building the architecture of a vertically integrated, downstream-focused high purity alumina (HPA) business, one with genuine competitive advantages in feedstock, process technology, and market access. Our flagship Lake Hope HPA Project continued to advance through the completion of the Pre-Feasibility Study, while the acquisition of a 50% interest in Alluminous Pty Ltd and its proprietary HiPurA® process has materially changed the strategic direction for our HPA pathway. At Broken Hill, a disciplined review of historical data has rekindled genuine excitement about the project's potential for high-grade PGM and base metal discovery. And at Commonwealth, we have secured a well-credentialled joint venture partner in Kuniko Limited to advance a project with world-class discovery potential. We enter the second half of the financial year with renewed momentum, a sharper strategic focus, and a growing suite of partnerships that we believe will accelerate our path to production. 1. Lake Hope High Purity Alumina Project, WA (IPTSyntax Warning: Invalid Font Weight 80%) Strategic Overview Lake Hope remains the cornerstone of Impact's growth strategy. The project's proposition is compelling: a natural aluminous feedstock located 550 km east of Perth, a Low-Temperature Leach (LTL) processing pathway with comparatively modest capital requirements, and a process plan to be strategically positioned in Kwinana, one of Australia's premier industrial precincts. DIRECTORS’ REPORT HALF-YEAR FINANCIAL REPORT 31 DECEMBER 2025 Page 3 of 24 The Pre-Feasibility Study has demonstrated the scale of the opportunity, pointing to a benchmark production rate of 10,000 tonnes per annum of HPA and a pathway to becoming one of the lowest- cost HPA producers globally. Test Work & CRC-P Grant A significant milestone was achieved in the December quarter when bench-scale membrane crystallisation of potash, produced as a by-product from Stage 1 of Impact's patented HPA process, was successfully completed. This development is expected to lead to reduction in both capital and operating expenditure, further strengthening the project's economics. This work is being conducted under a $2.87 million CRC-P grant awarded in October 2024, in collaboration with CPC Engineering and the Mineral Recovery Research Centre (MRRC) at Edith Cowan University. This government-backed partnership not only de-risks the commercialisation pathway but signals broader institutional confidence in the project's technical and commercial viability. Initial test work was also conducted on the solid residue from Stage 1 processing as a potential feedstock for the HiPurA® process — a key early step in evaluating integration opportunities between the Lake Hope ore body and Alluminous' downstream technology. Product Development & Offtake A marketing and product development team is being assembled. Early-stage discussions have been held with existing ceramic and alumina producers in Europe and the United States with a view to potential commercial synergies. A pilot plant is being progressed to produce HPA samples of consistent quality for potential offtake partners. The global HPA market context is supportive. Peer company Alpha HPA Limited (ASX: A4N) recently received $400 million in Australian Government funding toward a full-scale HPA plant, a clear signal of sustained federal and state commitment to critical minerals and downstream processing, a sector in which Impact is well positioned to participate. 2. Alluminous Pty Ltd (IPT 50%), A Step Change in HPA Strategy The HiPurA® Acquisition The acquisition of a 50% interest in Alluminous Pty Ltd, completed in April 2025, represented a strategic inflection point for Impact. The HiPurA® process, a modular, hydrometallurgical technology capable of producing battery-grade HPA, provides Impact with a downstream production capability that potentially complements and materially enhances the Lake Hope feedstock project. Management believes the integration of Lake Hope ore and the HiPurA® process has the potential to accelerate Impact's entry into the HPA market by several years compared to a standaloneSyntax Warning: Invalid Font Weight Lake Hope development. The PFS, while completed on a standalone basis, did not capture these integration benefits, meaning the combined opportunity may be considerably more valuable than either project in isolation. DIRECTORS’ REPORT HALF-YEAR FINANCIAL REPORT 31 DECEMBER 2025 Page 4 of 24 Technology Collaboration with C4V During the December quarter, Alluminous signed a Technology Collaboration Agreement with Charge CCCV LLC (C4V), a U.S.-based battery technology innovator, to jointly develop and qualify HiPurA® HPA for advanced battery applications. This is a material step in Alluminous' commercialisation strategy and a significant development for Impact's broader HPA ambitions. Under the agreement, Alluminous and C4V will work together to validate HiPurA® HPA across a range of battery uses, including separator coatings, ceramic layers, solid-state components, and electrode interface materials. C4V will conduct full cell testing replicating the qualification requirements of global battery OEMs, an independent validation process expected to materially compress the timeline from pilot production to commercial readiness. The agreement is non-exclusive, allowing Alluminous to continue discussions with other downstream customers in parallel. Battery ceramics and separator coatings are rapidly emerging as major non-sapphire markets for HPA, particularly across North America and Europe as those regions move to establish domestic battery supply chains. Through C4V's network, Alluminous gains potential access to U.S., Indian and European gigafactory networks, pathways to major battery OEMs, and visibility within supply-chain programs seeking to secure high-purity, non-Chinese sourced materials. Pilot Plant Progress Alluminous' pilot plant in Perth is now operational in batch mode. Further optimisation work and the transition to continuous mode operation is a key focus for the March and June 2026 quarters. Initial HiPurA® HPA sample batches are being prepared for delivery to C4V to commence the formal qualification process. The potential for a U.S. demonstration facility is also being assessed as the C4V collaboration develops. 3. Commonwealth Project, NSW (IPT 100%) Project Overview The Commonwealth Project comprises 565 km² in the northern Lachlan Fold Belt of New South Wales, approximately 100 km north of Orange, a region renowned for world-class mineral deposits including the Cadia-Ridgeway porphyry copper-gold mine and the Cowal epithermal gold deposit. Impact's technical work has defined the Commonwealth deposit as a high-sulphidation, gold-rich VMS deposit, a style only formally recognised in the past 25 years, with striking geological similarities to the world-class Eskay Creek deposit in Canada. Inferred Resources at Commonwealth and Silica Hill stand at approximately 88,800 ounces of contained gold and 3.3 million ounces of contained silver, all within 250 metres of the surface and open at depth and along trend. Kuniko Joint Venture During the December quarter, Impact announced terms for a joint venture with Kuniko LimitedSyntax Warning: Invalid Font Weight (ASX: KNI) over the Commonwealth Project. The key terms are: • Kuniko to issue 3,125,000 shares to Impact upon completion of due diligence (completed). DIRECTORS’ REPORT HALF-YEAR FINANCIAL REPORT 31 DECEMBER 2025 Page 5 of 24 • Kuniko to spend $1.5 million within two years to earn a 51% interest, and a further $1.5 million over the following two years to earn a 70% interest. • Impact's 30% interest to be free carried by Kuniko to a Decision to Mine. • At a Decision to Mine, Impact may elect to contribute or dilute to a 10% interest, which converts to a 2% Net Smelter Royalty. This structure is strategically well-constructed for Impact's shareholders. It brings a committed and well-resourced partner to an underexplored but highly prospective project, preserving meaningful upside participation for Impact without requiring Impact to fund exploration expenditure through to production decision. 4. Broken Hill Project, NSW (IPT 100%) Renewed Exploration Focus Impact is now the largest ground holder in the Broken Hill region, with tenements covering approximately 1,700 km² and 100 km of strike surrounding one of the world's truly great ore bodies. With elevated platinum group and base metal prices, new in-house exploration concepts, and renewed industry interest in the region, the Board has determined the time is right to resume systematic low cost exploration. Impact's tenements are prospective for three distinct styles of mineralisation: early-stage large sedimentary or magmatic copper deposits; high-grade magmatic nickel-copper-PGM sulphides associated with late-stage ultramafic to mafic intrusions; and Broken Hill-style silver-lead-zinc mineralisation. Platinum Springs, Grade That Commands Attention A progressive review of historical exploration data was completed during the December quarter, with the Platinum Springs area delivering results that reinforce the project's high-grade credentials. A key historical drill hole (PSD02) returned an intercept of 0.6 metres at 7.6% copper, 7.4% nickel, 25.6 g/t palladium,Syntax Warning: Invalid Font Weight 11.5 g/t platinum, 1.4 g/t gold, 44.3 g/t silver, 1.3 g/t rhodium, 1.7 g/t iridium, 2.0 g/t osmium and 0.8 g/t ruthenium from 57.4 metres down hole. Three new mineralised channels were identified across the Plat Central and Plat East prospects, with intercepts confirming ribbon-like channel geometry analogous to the world-class Kambalda nickel deposits in Western Australia. Notably, all three channels remain open along trend and at depth. They occur along the Moorkai Trend, a 9 km host-intrusion corridor, most of which has never been drilled. In 2020, Impact developed a proprietary multi-metal ratio technique measurable with a hand-held XRF instrument that reliably correlates with PGE grades in real time during drilling. This tool provides a meaningful operational advantage in efficiently vectoring toward high-grade zones and will be central to the next phase of exploration. Follow-up work programs will include detailed ground EM surveys to identify priority targets ahead of further drilling. DIRECTORS’ REPORT HALF-YEAR FINANCIAL REPORT 31 DECEMBER 2025 Page 6 of 24 5. Southern Sky Joint Venture (IPT 80%) Follow-up soil geochemistry surveys were completed over the Dalgaranga and Jumbo projects during the December quarter, with assay results expected in the March 2026 quarter. Discussions regarding the future structure and direction of the joint venture are ongoing. Board & Management The appointment of Mr Scott Phegan as Executive Director during the December quarter was a strategically important addition to Impact's leadership team. Scott brings more than 30 years of global experience across the bauxite, alumina and specialty materials industries, including senior roles with Alcoa across Australia, the United States and Brazil, with direct involvement in multibillion-dollar refinery expansions and technology upgrades. Since 2019, Scott has focused on developing new hydrometallurgical processes for high-purity materials, including HPA and rare earth extraction. He also serves on the board of Alluminous Pty Ltd alongside Managing Director Dr Mike Jones, providing a seamless connection between Impact's upstream Lake Hope development and the downstream HiPurA® commercialisation strategy. His appointment directly supports Impact's transition from developer to future producer. Outlook Impact Minerals enters the second half of FY2026 with a cleaner, more focused operational strategy than at any point in its recent history. Three themes define the period ahead. Building a vertically integrated HPA business. The combination of Lake Hope's natural feedstock, the LTL processing pathway, and the HiPurA® modular production technology through Alluminous gives Impact a uniquely integrated position across the HPA value chain. The C4V collaboration opens a credible commercial pathway into the rapidly growing battery materials market in North America and Europe. Unlocking value from a high-quality exploration portfolio. The Kuniko joint venture at Commonwealth and the renewed focus at Broken Hill demonstrate a disciplined approach to valueSyntax Warning: Invalid Font Weight realisation, bringing in partners with relevant expertise and capital while maintaining meaningful participation in future discovery and development upside. Transitioning from developer to producer. With the PFS nearing completion, a Mining Lease Application lodged, Alluminous' pilot plant operational, and offtake discussions underway, Impact is closer to production than at any point in its history. The focus for the months ahead is converting technical progress into commercial outcomes. FINANCIAL PERFORMANCE AND FINANCIAL POSITION During the half-year, the Group reported an operating loss after tax of $3,596,309 (half-year to 31 December 2024: $2,724,516). As at 31 December 2025, the Group had net assets of $12,976,362 (30 June 2025: $11,411,762), including $2,321,624 of cash and cash equivalents (30 June 2025: $2,451,240). DIRECTORS’ REPORT HALF-YEAR FINANCIAL REPORT 31 DECEMBER 2025 Page 7 of 24 EVENTS SUBSEQUENT TO THE REPORTING DATE No matters or circumstances have arisen since the end of the half year which significantly affect or may significantly affect the operations of the Group, the results of those operations, or the state of affairs in future years, except for: On 23 January 2026, the Company entered into an agreement to purchase tenement EL8024 from Sozo Resources Pty Ltd (Sozo). Under the terms of the agreement, in consideration for Sozo transferring tenement EL8024 to the Company, Sozo will receive replacement of a $10,000 security bond, $25,000 in cash and $125,000 in Impact shares valued at the 5-day VWAP as at the date of Completion and subject to a voluntary escrow period of six months. Auditor’s Declaration Section 307C of the Corporations Act 2001 requires our auditors, Hall Chadwick WA Audit Pty Ltd, to provide the directors of the company with an Independence Declaration in relation to the review of the half-year financial report. This Independence Declaration is set out on the following page and forms part of this directors’ report for the half-year ended 31 December 2025. This report is signed in accordance with a resolution of the Board of Directors. Paul Ingram Chairman Perth, 16 March 2026 Competent Person’s Statement The review of exploration activities and results contained in this report is based on information compiled by Dr Mike Jones, a Member of the Australian Institute of Geoscientists. He is a director of the Company and works for Impact Minerals Limited. He has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he is undertaking 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 (the JORC Code). Dr Jones has consented 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 document may contain certain forward-looking statements. Forward-looking statements include but are not limited to statements concerning Impact Minerals Limited’s (Impact’s) current expectations, estimates and projections about the industry in which Impact operates, and beliefs and assumptions regarding Impact’s future performance. When used in this document, words such as “anticipate”, “could”, “plan”, “estimate”, “expects”, “seeks”, “intends”, “may”, “potential”, “should”, and similar expressions are forward-looking statements. Although Impact believes that its expectations reflected in these forward-looking statements are reasonable, such statements are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the control of Impact and no assurance can be given that actual results will be consistent with these forward- looking statements. To the Board of Directors AUDITOR’S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 As lead audit director for the review of the financial statements of Impact Minerals Limited for the halfSyntax Warning: Invalid Font Weight year ended 31 December 2025, I declare that to the best of my knowledge and belief, there have been no contraventions of: • the auditor independence requirements of the Corporations Act 2001 in relation to the review; and • any applicable code of professional conduct in relation to the review. Yours Faithfully, HALL CHADWICK WA AUDIT PTY LTD D M BELL FCA Director Dated this 16th day of March 2026 Perth, Western Australia HALF-YEAR FINANCIAL REPORT 31 DECEMBER 2025 Page 9 of 24 CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 Notes CONSOLIDATED 31 Dec 2025 $ 31 Dec 2024 $ Interest and other income 3 57,813 562,850 57,813 562,850 Employee benefits expense (893,776) (439,596) Corporate and administration expenditure (758,430) (762,969) Depreciation and amortisation expense (57,066) (54,867) Occupancy expense (2,747) (3,135) Financing expense (15,233) (19,287) Share of loss in associate 9 (404,692) - Exploration expenditure (30,754) - Impairment of exploration expenditure 8 (1,491,424) (2,007,512) Loss before income tax expense (3,596,309) (2,724,516) Income tax expense - - Net Loss from continuing operations (3,596,309) (2,724,516) Other comprehensive income / (loss) Items that will not be reclassified to profit or loss Change in the fair value of financial assets 7 (4,375) 18,000 Other comprehensive income (net of tax) (4,375) 18,000 Total comprehensive loss for the period (3,600,684) (2,706,516) Total comprehensive loss attributable to the owners of Impact Minerals Limited (3,600,684) (2,706,516) Loss attributable to the owners of Impact Minerals Limited Cents per share Cents per share Basic Profit/(Loss) per share1 15 (0.86) (0.89) The Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the accompanying notes. 1 – Loss per share comparative has been restated as if the 10:1 share consolidation occurred at the start of the comparative period. HALF-YEAR FINANCIAL REPORT 31 DECEMBER 2025 Page 10 of 24 CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025 Notes CONSOLIDATED 31 Dec 2025 $ 30 Jun 2025 $ Current Assets Cash and cash equivalents 4 2,321,624 2,451,240 Trade and other receivables 48,961 36,750 Other current assets 5 1,125,748 43,436 Assets held for sale 6 - 250,000 Total Current Assets 3,496,333 2,781,426 Non-Current Assets Financial assets at fair value through other comprehensive income 7 235,625 14,250 Property, plant and equipment 23,310 32,145 Exploration expenditure 8 8,146,765 7,360,440 Right of Use Assets 217,297 262,255 Other non-current assets 229,000 266,000 Investment in associate 9 1,318,166 1,472,858 Total Non-Current Assets 10,170,163 9,407,948 TOTAL ASSETS 13,666,496 12,189,374 Current Liabilities Trade and other payables 294,151 315,280 Short-term provisions 117,625 139,207 Lease Liabilities 99,264 91,820 Total Current Liabilities 511,040 546,307 Non-Current Liabilities Lease Liabilities 179,094 231,305 Total Non-Current LiabilitiesSyntax Warning: Invalid Font Weight 179,094 231,305 TOTAL LIABILITIES 690,134 777,612 NET ASSETS 12,976,362 11,411,762 EQUITY Issued capital 10 76,451,776 71,223,658 Option reserve 10 1,220,796 2,265,333 Financial asset reserve 11 (50,625) (46,250) Transactions with non-controlling interest (1,161,069) (1,161,069) Accumulated losses (63,484,519) (60,869,910) TOTAL EQUITY 12,976,362 11,411,762 The Condensed Consolidated Statement of Financial Position should be read in conjunction with the accompanying notes. HALF-YEAR FINANCIAL REPORT 31 DECEMBER 2025 Page 11 of 24 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 Issued capital $ Option reserve $ Financial asset reserve $ Transactions with non- controlling interest $ Accumulated losses $ Total equity $ Balance at 1 July 2024 66,432,353 1,656,930 (71,250) (1,161,069) (51,872,463) 14,984,501 Loss for the period - - - - (2,724,516) (2,724,516) Other comprehensive income - - 18,000 - - 18,000 Total comprehensive loss for the half-year - - 18,000 - (2,724,516) (2,706,516) Transactions with owners in their capacity as owners Share issue costs (5,660) - - - - (5,660) Fair value of performance rights issued - 268,579 - - - 268,579 Balance at 31 December 2024 66,426,693 1,925,509 (53,250) (1,161,069) (54,596,979) 12,540,904 Balance at 1 July 2025 71,223,658 2,265,333 (46,250) (1,161,069) (60,869,910) 11,411,762 Loss for the period - - - - (3,596,309) (3,596,309) Other comprehensive income - - (4,375) - - (4,375) Total comprehensive loss for the half-year - - (4,375) - (3,596,309) (3,600,684) Transactions with owners in their capacity as owners Shares issued 5,060,000 - - - - 5,060,000 Share issue costs (321,382) - - - - (321,382) Fair value of options issued - 427,217 - - - 427,217 Fair value of performance rights issued - 260,446 - - - 260,446 Transferred to Issued Capital upon exercise 380,000 (380,000) - - - - Transfer to retained earnings upon expiry/lapse of options 109,500 (1,091,200) - - 981,700 - Transfer to exploration expenditure upon expiry/lapse of options Syntax Warning: Invalid Font Weight - (261,000) - - - (261,000) Balance at 31 December 2025 76,451,776 1,220,796 (50,625) (1,161,069) (63,484,519) 12,976,362 The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the accompanying notes. HALF-YEAR FINANCIAL REPORT 31 DECEMBER 2025 Page 12 of 24 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 Notes CONSOLIDATED 31 Dec 2025 $ 31 Dec 2024 $ CASH FLOWS FROM OPERATING ACTIVITIES Payments to suppliers and employees (1,095,380) (958,434) Interest received 28,501 52,212 Interest paid - (19,287) R&D Tax Incentive Refund - 512,427 NET CASH FLOWS USED IN OPERATING ACTIVITIES (1,066,879) (413,082) CASH FLOWS FROM INVESTING ACTIVITIES Payments for property, plant and equipment (3,273) (11,740) Payments for exploration activities (1,573,833) (1,805,142) Loan provided to associate 9 (250,000) - Investment in term deposits 5 (1,055,250) - Proceeds from the sale of Financial assets at fair value through other comprehensive income - 50,000Syntax Warning: Invalid Font Weight NET CASH FLOWS USED IN INVESTING ACTIVITIES (2,882,356) (1,766,882) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from share issue 10a 4,100,000 - Share issue costs (280,381) (5,659) Repayment of Lease Liabilities - (38,213) NET CASH FLOWS FROM FINANCING ACTIVITIES 3,819,619 (43,872) Net increase/(decrease) in cash and cash equivalents (129,616) (2,223,836) Cash and cash equivalents at beginning of the period 2,451,240 3,422,215 CASH AND CASH EQUIVALENTS AT END OF THE PERIOD 4 2,321,624 1,198,379 The Condensed Consolidated Statement of Cash Flows should be read in conjunction with the accompanying notes. HALF-YEAR FINANCIAL REPORT 31 DECEMBER 2025 Page 13 of 24 NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 NOTE 1: STATEMENT OF MATERIAL ACCOUNTING POLICIES a) Basis of Preparation These general-purpose financial statements for the interim half-year reporting period ended 31 December 2025 have been prepared in accordance with the requirements of the Corporations Act 2001 and Australian Accounting Standards including AASB 134: Interim Financial Reporting. This interim report is intended to provide users with an update on the latest annual financial statements of Impact Minerals Limited and its controlled entities (the consolidated entity). As such, it does not contain information that represents relatively insignificant changes occurring during the half-year within the consolidated entity. It is therefore recommended that this financial report be read in conjunction with the annual financial statements of the consolidated entity for the year ended 30 June 2025, together with any public announcements made during the half-year. The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period. The half-year financial statements have been prepared on the historical cost basis, except where stated. For the purpose of preparing the half-year financial statements, the half-year has been treated as a discrete reporting period. b) New accounting standards and interpretations The Group has adopted all of the new and revised Standards and Interpretations issued by the Australian Accounting Standards Board (AASB) that are relevant to its operations and effective for an annual accounting period that begins on or after 1 July 2025. The adoption of the new and revised Standards and Interpretations have not had a material impact on this half-year financial report. c) Going Concern The interim financial report has been prepared on the going concern basis, which contemplates the continuity of normal business activity and the realisation of assets and the settlement of liabilities in the ordinary course of business. The Consolidated Group generated a loss for the period of $3,596,309 (2024: loss of $2,724,516) and net cash outflows from operating activities of $1,066,879 (2024: $413,082). As at 31 December 2025 the Consolidated Group had a cash balance of $2,321,624 (30 June 2025: $2,451,240). The ability of the Consolidated Syntax Warning: Invalid Font Weight Group to continue as a going concern is principally dependent upon the ability of the Company to secure funds by raising capital from equity markets and managing cashflow in line with available funds. These conditions indicate a material uncertainty that may cast significant doubt about the ability of the Company to continue as a going concern. In the event the above matters are not achieved, the Company will be required to raise funds for working capital from debt or equity sources. The directors have prepared a cash flow forecast which indicates that the Consolidated Group will have sufficient cash flows to meet all commitments and working capital requirements for the 12-month period from the date of signing this financial report. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DE