Notes to the Consolidated Financial Statements continued ANNUAL REPORT June 2026 Notes to the Consolidated Financial Statements Australia Spain Elimination Consolidated 2025 A$'000 A$'000 A$'000 A$'000 Sale Revenue 19,363 46,687 - 66,050 Interest income 2,117 - (2,085) 32 Other income 1,534 1,864 - 3,398 Total segment revenue (i) 23,014 48,551 (2,085) 69,480 Segment result – Adjusted EBITDA (iii) (17,045) 7,532 - (9,513) Segment assets (ii) 92,552 96,720 - 189,272 Segment liabilities (ii) 60,271 92,714 - 152,985 Other segment information Acquisitions of property, plant and equipment, and other noncurrent segment assets 13,863 2,110 - 15,973 Increase in exploration, evaluation and development costs 362 - - 362 (i) Segment revenue The revenue from external parties reported to the CODM is measured in a manner consistent with that of the Consolidated Statement of Profit or Loss and Other Comprehensive income. During the year, revenue attributable to the Australia segment is derived from the sale of tungsten concentrate produced at Mt Carbine to Cronimet Aisa Pte. Ltd., which took 100% of initial production under an offtake and prepayment arrangement. During the year, revenue attributable to the Spain segment is derived from the sale of tungsten concentrate produced at Barruecopardo, sold under offtake and marketing arrangements with established refineries and trading houses. During the year, sales revenue attributable to 4 major customers accounted for 97% of total revenue, with all other customers individually accounting for less than 10% of Group revenue. (ii) Segment assets and liabilities The amounts provided to the CODM with respect to total assets and liabilities are measured in a manner consistent with that of the financial statements. These assets and liabilities are allocated based on the operations of the segment and the physical location of the asset or liability. EQ Resources Limited Annual Report 2026 69
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