ANNUAL REPORT June 2026 Notes to the Consolidated Financial Statements 6. INCOME TAX 2026 A$’000 2025 A$’000 (a) Components of Tax Expense Current tax expense - Current year (11,839) (7,334) Deferred tax expense - Current year 7,898 7,334 Deferred tax expense - Australian tax rate change to 30% (FY25: 25%) (3,478) - Deferred tax expense - Deferred taxes not recognised 7,115 - Under/ (over) provision in prior years 304 - - - (b) Reconciliation of income tax expense to prima facie tax payable The prima facie tax payable on profit before income tax is reconciled to the income tax expense as follows: Profit / (loss) before income tax 7,113 (39,228) Prima facie income tax payable on profit before income tax at 30% 2,134 (9,807) Tax effect of: Non-deductible fair value revaluation 510 - Non-deductible share-based payments expense 4,099 - Other non-deductible items 1 2,473 Deferred taxes not recognised 7,116 7,334 Impact of Australian tax rate change to 30% (FY25: 25%) (3,478) - Impact of tax rates applicable outside of Australia (1,781) - Under/(over) provision in prior years 304 - Overseas operations: Depletion allowance (1,378) - Other non-deductible items 7 - Deferred taxes not recognised (9,816) - Tax revenue losses not recognised 2,282 - Income tax expense / (benefit) - - (c) Current Tax Opening balance - - Current year movement - - Tax payments (3,410) - Current tax liabilities / (assets) (3,410) - EQ Resources Limited Annual Report 2026 73
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