ANNUAL REPORT June 2026 Notes to the Consolidated Financial Statements 23. RELATED PARTY DISCLOSURES (a) Directors and specified executives Disclosures relating to Directors and specified executives are set out in Note 14. (b) Transactions with other related parties: Transactions between other related parties are on normal commercial terms and conditions no more favourable than those available to other parties unless otherwise stated. During the reporting period the Company entered the following transaction: Short-term borrowings via the advanced upfront Subscription Security payment of A$8.7 million from OCM Luxembourg Tungsten Holdings S.a.r.l. (Oaktree) prior to the issue of the Subscription Securities as part of the share placement on 22 May 2025. The loan is non-interest bearing unless the Company fails to satisfy the Subscription Approval by 31 August 2025, interest will accrue at a rate of 10% per year accruing daily. At the EGM held on 19 July 2025 shareholders approved the issue of 249,585,714 shares in full satisfaction of the short-term borrowings. Subsequent to year end, Oaktree ceased to be a related party of the Group: on 17 July 2026, funds managed by Oaktree Capital Management, L.P. sold their entire EQR shareholding (862,131,779 shares and 35,555,556 options, approximately 16.8% of issued capital) to Wonongarra Pty Ltd, an investment vehicle wholly owned by Dr Andrew Forrest AO. Refer to Note 23 for details. (c) Receivable from and payable to related parties There were no trade receivables nor trade payables to related parties at the current and previous reporting date other than those disclosed in the Remuneration Report. (d) Loans to/from related parties No loans to or from related parties were entered into during the reporting period. (e) Parent entity EQ Resources Limited is the ultimate parent entity within the Group. (f) Subsidiaries Interests in subsidiaries are set out in Note 18. EQ Resources Limited Annual Report 2026 101
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