ANNUAL REPORT June 2026 Notes to the Consolidated Financial Statements 12. RESERVES AND ACCUMULATED LOSS (a) Reserves 2026 A$’000 2025 A$’000 Share-based payments reserves Balance at beginning of year 10,554 5,675 Share-based payments expense 17,233 3,736 Less: amounts not recognised directly in the Group's share-based payment reserve (5,345) 1,143 22,442 10,554 Foreign currency translation reserve Balance at beginning of year 3,164 - Movement during the year (5,843) 3,164 (2,679) 3,164 Total reserves as at 30 June 19,763 13,718 (b) Accumulated loss 2026 A$’000 2025 A$’000 Balance at beginning of year (70,918) (17,388) Reclassification (Note 1(f)) (19,061) Correction prior year (Note 1(e)) - 4,759 Profit / (loss) for the year 7,113 (39,228) Balance at end of year (63,805) (70,918) 13. EARNINGS PER SHARE 2026 A$’000 2025 A$’000 Profit/(Loss) after income tax attributable to the owners of the Company used in calculating basic and diluted earnings per share 7,113 (39,228) Number Number Weighted average number of ordinary shares on issue used in the calculation of basic earnings/ (loss) per share 3,909,800,143 2,313,669,320 Weighted average number of ordinary shares used in calculating diluted earnings per share. Note options outstanding at the reporting date have not been brought to account as they are antidilutive. 4,203,453,003 2,656,746,092 Cents Cents Basic earnings/(loss) per share (cents) 0.18 (1.70) Diluted earnings/(loss) per share (cents) 0.17 (1.70) EQ Resources Limited Annual Report 2026 89
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