Announcement PDF All Registry communications to: Automic Group GPO Box 5193 Sydney NSW 2001 Telephone (free call within Australia): 1300 288 664 ASX Code: EQR Email: hello@automicgroup.com.au 13 February 2026 Upcoming General Meeting of Shareholders Dear Shareholder, EQ Resources Limited ACN 115 009 106 (ASX: EQR or “the Company”), advises that an General Meeting will be held via a webinar conferencing facility on Monday, 16 March 2026 at 3.30pm (AEDT) (Meeting). Notice of Meeting The Notice of Meeting and Explanatory Memorandum (Notice) for the Meeting is available online and can be viewed and downloaded by shareholders of the Company (Shareholders) from the Company’s website at https://eqresources.com.au/site/invest-in-us/asx-announcements or the Company's ASX market announcements platform at www.asx.com.au (ASX: EQR). In accordance with sections 110C-110K of the Corporations Act 2001 (Cth) (as inserted by the Treasury Laws Amendment (2021 Measures No.1) Act 2021 (Cth), Shareholders will not be sent a hard copy of the Notice or Proxy Form unless Shareholders have already notified the Company that they wish to receive documents such as the Notice and Proxy Form in hard copy. Voting by Proxy Online scan the QR code below using your smartphone Lodge the Proxy Form online at https://investor.automic.com.au/#/loginsah by following the instructions: 1. Login to the Automic website using the holding details as shown on the Proxy Form. 2. Click on ‘View Meetings’ – ‘Vote’. To use the online lodgment facility, Shareholders will need their holder number (Securityholder Reference Number (SRN) or Holder Identification Number (HIN)) as shown as shown at the top of your holding statement. For further information on the online proxy lodgment process, or if you require a hard copy Proxy Form, please contact the Company’s Share Registry, Automic Registry Services (Automic), at meetings@automicgroup.com.au or via phone on 1300 288 664 (within Australia) or +61 2 9698 5414 (overseas). Shareholder queries in relation to the Meeting Shareholders can contact the Company Secretary with any questions prior to the meeting via email at tony.pietro@vistra.com. Copies of all Meeting related material including the Notice, are available to download from the Company’s website and the Company's ASX market announcements platform. In the event it is necessary or appropriate for the Company to make alternative arrangements for the Meeting, information will be provided to Shareholders via the ASX and the Company’s website. Authorised for ASX release by the Company Secretary. 1 resourcing the new economy for a better tomorrow EQ RESOURCES LIMITED ABN 77 115 009 106 Notice of Extraordinary General Meeting Explanatory Statement and Proxy Form Date of Meeting: Monday, 16 March 2026 Time of Meeting: 3:30pm (AEDT) Location: Held virtually via webinar https://vistra.zoom.us/webinar/register/WN_9hSv8VvMRHii1CU8IxXTnw The business of the Meeting affects your shareholding and your vote is important. This Notice of Extraordinary General Meeting (Explanatory Statement and Proxy Form) should be read in its entirety. If Shareholders are in doubt as to how they should vote, they should seek advice from their professional advisers prior to voting. The Directors have determined pursuant to Regulation 7.11.37 of the Corporations Regulations 2001 (Cth) that the persons eligible to vote at the Meeting are those who are registered Shareholders at 3.30pm on Saturday 14 March 2026. 2 EQ RESOURCES LIMITED ABN 77 115 009 106 Registered office: Suite 2, Level 11, 385 Bourke Street, Melbourne, VIC 3000 Notice is hereby given that a meeting of Shareholders of EQ Resources Limited (the “Company” or “EQR”) will be held virtually via a webinar conferencing facility on Monday, 16 March 2026 at 3:30pm (AEDT) (“Extraordinary General Meeting”, “EGM” or “Meeting”). Virtual Attendance Shareholders are encouraged to submit their proxies as early as possible, and in any event, prior to the cut-off date for proxy voting as set out in this Notice. To lodge your proxy, please follow the directions on your personalised Proxy Form which will be delivered to you by email or post (depending on your communication preferences). Shareholders attending the EGM will be able to ask questions and the Company has made provision for Shareholders who register their attendance before the start of the meeting to also cast their votes on the proposed resolutions at the EGM. The virtual meeting can be attended using the following details: When: Monday, 16 March 2026 at 3:30pm (AEDT) Topic: EQ Resources Limited Extraordinary General Meeting Register in advance for the virtual meeting: https://vistra.zoom.us/webinar/register/WN_9hSv8VvMRHii1CU8IxXTnw After registering, you will receive a confirmation email containing information about joining the meeting. As noted previously, the Company strongly recommends Shareholders lodge a directed proxy as soon as possible in advance of the Meeting even if they are planning to attend the Meeting online. The Company will conduct a poll on each Resolution presented at the Meeting. The Company will accept questions during the Meeting either by submitting a question through the Q&A box or by using the raise hand function located on screen. The Company will respond to the Q&A box questions or allow Shareholders to ask their question verbally. The Company is happy to accept and answer questions submitted prior to the Meeting by email to tony.pietro@vistra.com. The Company will address relevant questions during the Meeting or by written response after the Meeting (however, the Company will use its discretion when responding to unreasonable and/or offensive questions). Any Shareholders who wish to attend the EGM online should therefore monitor the Company’s website and its ASX announcements for any updates about the EGM. If it becomes necessary or appropriate to make alternative arrangements for the holding of, or conducting, the Meeting, the Company will make further information available through the ASX website at asx.com.au (ASX: EQR) and on its website https://www.eqresources.com.au/site/invest-in-us/investor-welcome. 3 AGENDA The Explanatory Statement and Proxy Form which accompany, and form part of this Notice, include defined terms and describe in more detail the matters to be considered. Please consider this Notice, the Explanatory Statement, and the Proxy Form in their entirety. ORDINARY BUSINESS Resolution 1 – Ratification of New Shares To consider and, if thought fit, to pass the following resolution as an ordinary resolution: "That, for the purposes of ASX Listing Rule 7.4 and for all other purposes, Shareholders ratify the issue of 637,565,761 Shares on 12 December 2025, on the terms and conditions set out in the Explanatory Statement.” Resolution 2 – Approval to Issue New Shares to Mr Stephen Layton (or their nominees) as a Director of the Company To consider and, if thought fit, pass the following resolution as an ordinary resolution: “That, for the purposes of Listing Rule 10.11 and for all other purposes, approval be given to issue 4,000,000 fully paid ordinary shares at an issue price of $0.050 per share in the Company to Mr. Stephen Layton (Non-Executive Director of the Company), or his nominee(s), as part of the Placement announcement on 5 December 2025 on the terms and conditions set out in the Explanatory Statement accompanying the Notice of Meeting.” Resolution 3 – Approval to Issue New Shares to Mr Craig Bradshaw (or their nominees) as a Director of the Company To consider and, if thought fit, pass the following resolution as an ordinary resolution: “That, for the purposes of Listing Rule 10.11 and for all other purposes, approval be given to issue 2,000,000 fully paid ordinary shares at an issue price of $0.050 per share in the Company to Mr Craig Bradhsaw (Managing Director of the Company), or his nominee(s), as part of the Placement announcement on 5 December 2025 on the terms and conditions set out in the Explanatory Statement accompanying the Notice of Meeting.” Resolution 4 – Approval to Issue New Shares to Mr Stephen Weir (or their nominees) as a Director of the Company To consider and, if thought fit, pass the following resolution as an ordinary resolution: “That, for the purposes of Listing Rule 10.11 and for all other purposes, approval be given to issue 2,000,000 fully paid ordinary shares at an issue price of $0.050 per share in the Company to Mr Stephen Weir (Non-Executive Director of the Company), or his nominee(s), as part of the Placement announcement on 5 December 2025 on the terms and conditions set out in the Explanatory Statement accompanying the Notice of Meeting.” Resolution 5 – Approval to issue Shares to Oaktree Capital Management L.P. To consider and, if thought fit, to pass the following resolution as an ordinary resolution: 4 "That, for the purposes of ASX Listing Rule 10.11 and for all other purposes, Shareholders approve the issue of 145,000,000 Shares, to Oaktree Capital Management L.P. (or their nominees) on the terms and conditions set out in the Explanatory Statement.” Resolution 6 – Approval to Issue Securities under Incentive Plan To consider and, if thought fit, to pass, with or without amendment, the following resolution as an ordinary resolution: “That, for the purposes of Listing Rule 7.2 (Exception 13(b)) and for all other purposes, approval is given for the Company to issue up to maximum of 223,271,750 Securities under the employee incentive scheme titled Employee Securities Incentive Plan, on the terms and conditions set out in the Explanatory Statement.” Resolution 7 – Approval to Issue Performance Rights to Director – Craig Bradshaw To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “That, subject to the passing of Resolution 6, for the purposes of Listing Rule 10.14 and for all other purposes, approval is given for the Company to issue up to 5,700,000 Performance Rights to Mr Craig Bradshaw (or his nominee(s)) under the Employee Securities Incentive Plan on the terms and conditions set out in the Explanatory Statement.” Resolution 8 – Approval to Issue Options to Director – Oliver Kleinhempel To consider and, if thought fit, to pass, with or without amendment, the following resolution as an ordinary resolution: “That, subject to the passing of Resolution 6, for the purposes of section 208 of the Corporations Act, Listing Rule 10.14 and for all other purposes, approval is given for the Company to issue 6,000,000 Options to Mr Oliver Kleinhempel (or his nominee(s)) under the Employee Securities Incentive Plan on the terms and conditions set out in the Explanatory Statement.” Resolution 9 – Approval to Issue Options to Director – Stephen Weir To consider and, if thought fit, to pass, with or without amendment, the following resolution as an ordinary resolution: “That, subject to the passing of Resolution 6, for the purposes of section 208 of the Corporations Act, Listing Rule 10.14 and for all other purposes, approval is given for the Company to issue 6,000,000 Options to Mr Stephen Weir (or his nominee(s)) under the Employee Securities Incentive Plan on the terms and conditions set out in the Explanatory Statement.” Resolution 10 – Approval to Issue Options to Director – Stephen Layton To consider and, if thought fit, to pass, with or without amendment, the following resolution as an ordinary resolution: “That, subject to the passing of Resolution 6, for the purposes of section 208 of the Corporations Act, Listing Rule 10.14 and for all other purposes, approval is given for the Company to issue 6,000,000 Options to Mr Stephen Layton (or his nominee(s)) under the Employee Securities Incentive Plan on the terms and conditions set out in the Explanatory Statement.” 5 Resolution 11 – Approval to Issue Options to Director – Zhui Pei Yeo To consider and, if thought fit, to pass, with or without amendment, the following resolution as an ordinary resolution: “That, subject to the passing of Resolution 6, for the purposes of section 208 of the Corporations Act, Listing Rule 10.14 and for all other purposes, approval is given for the Company to issue 6,000,000 Options to Mr Zhui Pei Yeo (or his nominee(s)) under the Employee Securities Incentive Plan on the terms and conditions set out in the Explanatory Statement.” Resolution 12 – Approval to Issue Options to Director – Craig Bradshaw To consider and, if thought fit, to pass, with or without amendment, the following resolution as an ordinary resolution: “That, subject to the passing of Resolution 6, for the purposes of section 208 of the Corporations Act, Listing Rule 10.14 and for all other purposes, approval is given for the Company to issue 15,000,000 Options to Mr Craig Bradshaw (or his nominee(s)) under the Employee Securities Incentive Plan on the terms and conditions set out in the Explanatory Statement.” Resolution 13 – Non-Board-Endorsed Candidate To consider and, if thought fit, pass the following resolution as an ordinary resolution: “That, for the purpose of clause 17.5 of the Constitution, Listing Rule 14.3, and for all other purposes, Mr Stephen Mayne, having consented to act as a director of the Company, be appointed as a director of the Company. Dated: 13 February 2026 By order of the Board Tony Di Pietro Company Secretary 6 Notes 1. Entire Notice: The details of the resolutions contained in the Explanatory Statement and proxy form accompanying this Notice should be read together with, and form part of, this Notice. 2. Record Date: The Company has determined that, for the purposes of the EGM, shares will be taken to be held by the persons who are registered as holding the shares at 7:00pm on the date 48 hours before the date of the EGM. Only those persons will be entitled to vote at the EGM and transfers registered after that time will be disregarded in determining entitlements to attend and vote at the EGM. 3. Proxies a. Votes at the EGM may be given personally or by proxy, attorney, or representative. b. Each Shareholder has a right to appoint one or two proxies. c. A proxy need not be a Shareholder of the Company. d. If a Shareholder is a company, it must execute under its common seal, or otherwise, in accordance with its constitution or the Corporations Act. e. Where a Shareholder is entitled to cast two or more votes, the Shareholder may appoint two proxies and may specify the proportion or number of votes each proxy is appointed to exercise. f. If a Shareholder appoints two proxies, and the appointment does not specify the proportion or number of the Shareholder’s votes, each proxy may exercise half of the votes. If a Shareholder appoints two proxies, neither proxy may vote on a show of hands. g. A proxy must be signed by the Shareholder or his or her attorney who has not received any notice of revocation of the authority. h. To be effective, Proxy Forms must be received by the Company’s share registry, Automic Pty Ltd, no later than 48 hours before the commencement of the EGM, i.e. no later than Saturday, 14 March 2026 at 3:30pm (AEDT). Any proxy received after that time will not be valid for the scheduled meeting. i. Voting by Proxy For further information on the online proxy lodgement process, or if you require a hard copy Proxy Form, please contact the Company’s Share Registry, Automic Registry Services (Automic), at meetings@automicgroup.com.au or via phone on 1300 288 664 (within Australia) or +61 2 9698 5414 (overseas). 4. Corporate Representative Any corporate Shareholder who has appointed a person to act as its corporate representative at the EGM should provide that person with a certificate or letter executed in accordance with the Corporations Act authorising him or her to act as that company’s representative. The authority may be emailed to the Company and/or registry in advance of the EGM. 5. How the Chair will vote Undirected Proxies Subject to the restrictions set out in Note 6 below, the Chair of the EGM will vote undirected proxies in favour of all proposed Resolutions, except for Resolution 13 as the Chair intends to vote undirected proxies against that Resolution. 7 6. Voting Prohibition Statements Resolution 6 – Approval to Issue Securities under Incentive Plan A person appointed as a proxy must not vote, on the basis of that appointment, on this Resolution if: (a) the proxy is either: (i) a member of the Key Management Personnel; or (ii) a Closely Related Party of such a member; and (b) the appointment does not specify the way the proxy is to vote on this Resolution. However, the above prohibition does not apply if: (a) the proxy is the Chair; and (b) the appointment expressly authorises the Chair to exercise the proxy even though this Resolution is connected directly or indirectly with remuneration of a member of the Key Management Personnel. Resolution 7 – Approval to Issue Performance Rights to Director – Craig Bradshaw A person appointed as a proxy must not vote, on the basis of that appointment, on this Resolution if: (a) the proxy is either: (i) a member of the Key Management Personnel; or (ii) a Closely Related Party of such a member; and (b) the appointment does not specify the way the proxy is to vote on this Resolution. However, the above prohibition does not apply if: (a) the proxy is the Chair; and (b) the appointment expressly authorises the Chair to exercise the proxy even though this Resolution is connected directly or indirectly with remuneration of a member of the Key Management Personnel. Resolution 8 – Approval to Issue Options to Director – Oliver Kleinhempel In accordance with section 224 of the Corporations Act, a vote on this Resolution must not be cast (in any capacity) by or on behalf of a related party of the Company to whom the Resolution would permit a financial benefit to be given, or an associate of such a related party (Resolution 8 Excluded Party). However, the above prohibition does not apply if the vote is cast by a person as proxy appointed by writing that specifies how the proxy is to vote on the Resolution and it is not cast on behalf of a Resolution 8 Excluded Party. In accordance with section 250BD of the Corporations Act, a person appointed as a proxy must not vote, on the basis of that appointment, on this Resolution if: (a) the proxy is either: (i) a member of the Key Management Personnel; or (ii) a Closely Related Party of such a member; and (b) the appointment does not specify the way the proxy is to vote on this Resolution. Provided the Chair is not a Resolution 8 Excluded Party, the above prohibition does not apply if: (a) the proxy is the Chair; and (b) the appointment expressly authorises the Chair to exercise the proxy even though this Resolution is connected directly or indirectly with remuneration of a member of the Key Management Personnel. Resolution 9 – Approval to Issue Options to Director – Stephen Weir In accordance with section 224 of the Corporations Act, a vote on this Resolution must not be cast (in any capacity) by or on behalf of a related party of the Company to whom the Resolution would permit a financial benefit to be given, or an associate of such a related party (Resolution 9 Excluded Party). However, the above prohibition does not apply if the vote is cast by a person as proxy appointed by writing that specifies how the proxy is to vote on the Resolution and it is not cast on behalf of a Resolution 9 Excluded Party. In accordance with section 250BD of the Corporations Act, a person appointed as a proxy must not vote, on the basis of that appointment, on this Resolution if: (a) the proxy is either: (i) a member of the Key Management Personnel; or (ii) a Closely Related Party of such a member; and (b) the appointment does not specify the way the proxy is to vote on this Resolution. Provided the Chair is not a Resolution 9 Excluded Party, the above prohibition does not apply if: (a) the proxy is the Chair; and (b) the appointment expressly authorises the Chair to exercise the proxy even though this Resolution is connected directly or indirectly with remuneration of a member of the Key Management Personnel. Resolution 10 – Approval to Issue Options to Director – Stephen Layton In accordance with section 224 of the Corporations Act, a vote on this Resolution must not be cast (in any capacity) by or on behalf of a related party of the Company to whom the Resolution would permit a financial benefit to be given, or an associate of such a related party (Resolution 10 Excluded Party). However, the above prohibition does not apply if the vote is cast by a person as proxy appointed by writing that specifies how the proxy is to vote 8 on the Resolution and it is not cast on behalf of a Resolution 10 Excluded Party. In accordance with section 250BD of the Corporations Act, a person appointed as a proxy must not vote, on the basis of that appointment, on this Resolution if: (a) the proxy is either: (i) a member of the Key Management Personnel; or (ii) a Closely Related Party of such a member; and (b) the appointment does not specify the way the proxy is to vote on this Resolution. Provided the Chair is not a Resolution 10 Excluded Party, the above prohibition does not apply if: (a) the proxy is the Chair; and (b) the appointment expressly authorises the Chair to exercise the proxy even though this Resolution is connected directly or indirectly with remuneration of a member of the Key Management Personnel. Resolution 11 – Approval to Issue Options to Director – Zhui Pei Yeo In accordance with section 224 of the Corporations Act, a vote on this Resolution must not be cast (in any capacity) by or on behalf of a related party of the Company to whom the Resolution would permit a financial benefit to be given, or an associate of such a related party (Resolution 11 Excluded Party). However, the above prohibition does not apply if the vote is cast by a person as proxy appointed by writing that specifies how the proxy is to vote on the Resolution and it is not cast on behalf of a Resolution 11 Excluded Party. In accordance with section 250BD of the Corporations Act, a person appointed as a proxy must not vote, on the basis of that appointment, on this Resolution if: (a) the proxy is either: (i) a member of the Key Management Personnel; or (ii) a Closely Related Party of such a member; and (b) the appointment does not specify the way the proxy is to vote on this Resolution. Provided the Chair is not a Resolution 11 Excluded Party, the above prohibition does not apply if: (a) the proxy is the Chair; and (b) the appointment expressly authorises the Chair to exercise the proxy even though this Resolution is connected directly or indirectly with remuneration of a member of the Key Management Personnel. Resolution 12 – Approval to Issue Options to Director – Craig Bradshaw In accordance with section 224 of the Corporations Act, a vote on this Resolution must not be cast (in any capacity) by or on behalf of a related party of the Company to whom the Resolution would permit a financial benefit to be given, or an associate of such a related party (Resolution 12 Excluded Party). However, the above prohibition does not apply if the vote is cast by a person as proxy appointed by writing that specifies how the proxy is to vote on the Resolution and it is not cast on behalf of a Resolution 12 Excluded Party. In accordance with section 250BD of the Corporations Act, a person appointed as a proxy must not vote, on the basis of that appointment, on this Resolution if: (a) the proxy is either: (i) a member of the Key Management Personnel; or (ii) a Closely Related Party of such a member; and (b) the appointment does not specify the way the proxy is to vote on this Resolution. Provided the Chair is not a Resolution 12 Excluded Party, the above prohibition does not apply if: (a) the proxy is the Chair; and (b) the appointment expressly authorises the Chair to exercise the proxy even though this Resolution is connected directly or indirectly with remuneration of a member of the Key Management Personnel. Voting Exclusion Statements In accordance with Listing Rule 14.11, the Company will disregard any votes cast in favour of the Resolution set out below by or on behalf of the following persons: Resolution 1 – Ratification of Placement Shares Investors who participated in the Placement or any other person who participated in the issue or an associate of that person or those persons. Resolution 2 – Approval to Issue Placement Shares to Mr Stephen Layton (or their nominees) as a Director of the Company Mr Stephen Layton (or their nominee(s)) and any other person who will obtain a material benefit as a result of the issue of the securities (except a benefit solely by reason of being a holder of ordinary securities in the Company) or an associate of that person or those persons. 9 Resolution 3 – Approval to Issue Placement Shares to Mr Craig Bradshaw (or their nominees) as a Director of the Company Mr Craig Bradshaw (or their nominee(s)) and any other person who will obtain a material benefit as a result of the issue of the securities (except a benefit solely by reason of being a holder of ordinary securities in the Company) or an associate of that person or those persons. Resolution 4 – Approval to Issue Placement Shares to Mr Stephen Weir (or their nominees) as a Director of the Company Mr Stephen Weir (or their nominee(s)) and any other person who will obtain a material benefit as a result of the issue of the securities (except a benefit solely by reason of being a holder of ordinary securities in the Company) or an associate of that person or those persons. Resolution 5 – Approval to issue Shares to Oaktree Capital Management L.P. Oaktree Capital Management L.P. (or their nominee(s)) and any other person who will obtain a material benefit as a result of the issue of the securities (except a benefit solely by reason of being a holder of ordinary securities in the Company) or an associate of that person or those persons. Resolution 6 – Approval to Issue Securities under Incentive Plan A person who is eligible to participate in the employee incentive scheme or an associate of that person or those persons. Resolution 7 – Approval to Issue Performance Rights to Director – Craig Bradshaw Mr Craig Bradshaw (or their nominee(s)) and any other person referred to in Listing Rule 10.14.1, 10.14.2 or 10.14.3 who is eligible to participate in the employee incentive scheme in question or an associate of that person or those persons. Resolution 8 – Approval to Issue Options to Director – Oliver Kleinhempel Mr Oliver Kleinhempel or any other person referred to in Listing Rule 10.14.1, 10.14.2 or 10.14.3 who is eligible to participate in the employee incentive scheme in question or an associate of that person or those persons. Resolution 9 – Approval to Issue Options to Director – Stephen Weir Mr Stephen Weir or any other person referred to in Listing Rule 10.14.1, 10.14.2 or 10.14.3 who is eligible to participate in the employee incentive scheme in question or an associate of that person or those persons. Resolution 10 – Approval to Issue Options to Director – Stephen Layton Mr Stephen Layton or any other person referred to in Listing Rule 10.14.1, 10.14.2 or 10.14.3 who is eligible to participate in the employee incentive scheme in question or an associate of that person or those persons. Resolution 11 – Approval to Issue Options to Director – Zhui Pei Yeo Mr Zhui Pei Yeo or any other person referred to in Listing Rule 10.14.1, 10.14.2 or 10.14.3 who is eligible to participate in the employee incentive scheme in question or an associate of that person or those persons. Resolution 12 – Approval to Issue Options to Director – Craig Bradshaw Mr Craig Bradshaw or any other person referred to in Listing Rule 10.14.1, 10.14.2 or 10.14.3 who is eligible to participate in the employee incentive scheme in question or an associate of that person or those persons. However, this does not apply to a vote cast in favour of the Resolution by: (a) a person as a proxy or attorney for a person who is entitled to vote on the Resolution, in accordance with the directions given to the proxy or attorney to vote on the Resolution in that way; or (b) the Chair as proxy or attorney for a person who is entitled to vote on the Resolution, in accordance with a direction given to the Chair to vote on the Resolution as the Chair decides; or (c) a holder acting solely in a nominee, trustee, custodial or other fiduciary capacity on behalf of a beneficiary provided the following conditions are met: (i) the beneficiary provides written confirmation to the holder that the beneficiary is not excluded from voting, and is not an associate of a person excluded from voting, on the Resolution; and (ii) the holder votes on the Resolution in accordance with directions given by the beneficiary to the holder to vote in that way. 7. Enquiries Shareholders are invited to contact the Company Secretary on +61(3) 9692 7222 if they have any queries in respect of the matters set out in this Notice. 10 EXPLANATORY STATEMENT Purpose of Information This Explanatory Statement (“Statement”) accompanies and forms part of the Company’s Notice of EGM (“Notice”) which will be held at 3:30pm (AEDT) on 16 March 2026, via a video-conferencing facility. The Notice incorporates, and should be read together, with this Statement. ORDINARY BUSINESS Background to Resolutions 1, 2, 3, 4 & 5 On 5 December 2025, the Company announced that it had received firm commitments for a placement to institutional and sophisticated investors to raise $34 million, before costs, via the issue of 680 million new fully paid ordinary shares (Placement). New shares to be issued as part of the Placement were to be issued at a price of $0.05 (5 cents) per share (New Share). A total of 670 million New Shares were issued to investors on 12 December 2025 utilising the Company’s capac