ANNUAL REPORT June 2026 Notes to the Consolidated Financial Statements 18. COMMITMENTS Exploration Licence Expenditure Requirements Queensland The Queensland Government has approved a number of changes to Exploration Permits under the Natural Resources and Other Legislation Amendment Act 2019 (known as NROLA Act). This Act commenced in May 2020, resulting in a change from an expenditure-based approach upon which a company’s compliance with its licence conditions will be assessed on an outcomes-based approach. Capital Commitments At 30 June, the Group had the following capital commitments contracted for, but not recognised as liabilities, payable as follows: 2026 A$’000 2025 A$’000 Within one year - Mt Carbine operation 23,403 - Within one year – Barruecopardo operation 2,632 - Total capital commitments 26,035 - These commitments relate principally to plant, crushing and screening infrastructure, and mine development works together with information technology systems for the Group. 19. INVESTMENT IN SUBSIDIARIES EQ Resources Limited and its subsidiaries are located and incorporated in Australia except for Saloro, wholly owned by European Tungsten Pty Ltd, which is domiciled in Spain. Equity Interest Cost of Parent Entity’s Investment Parent Entity EQ Resources Limited 2026 % 2025 % 2026 $ 2025 $ Controlled Entities Mt Carbine Mining Pty Ltd 100 100 2 2 Mt Carbine Retreatment Pty Ltd 100 100 200 200 European Tungsten Pty Ltd 100 100 1 1 Mt Carbine Quarrying Operations Pty Ltd 100 100 100 100 Mt Carbine Quarries Pty Limited 100 100 8,130,000 8,130,000 EQ Resources Exploration Pty Ltd (ii) 100 100 10 10 Mt Carbine Retreatment Management Pty Ltd 100 100 50 50 EQ Resources (Roadhouse Operations) Pty Ltd (i) 100 - 1 - Saloro S.L.U. 100 100 2 2 (i) EQ Resources (Roadhouse Operations) Pty Ltd was incorporated during the year ended 30 June 2026 as a whollyowned subsidiary of EQ Resources Limited and accordingly has no 2025 comparative equity interest or cost of investment. (ii) Formerly Icon Resources Africa Pty Ltd. The company changed its name on 22 June 2026 92 EQ Resources Limited Annual Report 2026 Notes to the Consolidated Financial Statements continued
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