Announcement PDF EXULTANT MINING LIMITED ACN 684 147 484 ANNUAL REPORT For the Period Ended 30 June 2025 CONTENTS Exultant Mining Limited CORPORATE DIRECTORY 1 DIRECTORS’ REPORT 2 AUDITOR’S INDEPENDENCE DECLARATION 16 STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 17 STATEMENT OF FINANCIAL POSITION 18 STATEMENT OF CHANGES IN EQUITY 19 STATEMENT OF CASH FLOWS 20 NOTES TO THE FINANCIAL STATEMENTS 21 COMPANY DISCLOSURE STATEMENT 34 DIRECTORS’ DECLARATION 35 INDEPENDENT AUDITOR’S REPORT 36 CORPORATE DIRECTORY Exultant Mining Limited 1 DIRECTORS Brett Grosvenor Executive Chairman Lincoln Ho Non-Executive Director Alan Armstrong Non-Executive Director SECRETARY Amanda Wilton-Heald REGISTERED & BUSINESS OFFICE Level 8, London House, 216 St Georges Terrace Perth WA 6000 Telephone: +61 8 9481 0389 Facsimile: +61 8 9463 6103 WEBSITE & EMAIL www.exultantmining.com info@exultantmining.com AUDITORS Hall Chadwick WA Audit Pty Ltd 283 Rokeby Road Subiaco WA 6008 BANKER National Australia Bank 1232 Hay Street West Perth WA 6005 LEGAL ADVISORS Steinepreis Paganin Level 14, QV1, 250 St Georges Terrace Perth WA 6000 SHARE REGISTRY Xcend Pty Ltd Level 2, 477 Pitt Street Sydney NSW 2000 Telephone: +61 (2) 8591 8509 DIRECTORS’ REPORT Exultant Mining Limited 2 Your Directors submit the financial report of the Company for the period ended 30 June 2025. OPERATIONS Exultant Mining Limited (Exultant or Company) (formerly Exultant Mining Pty Ltd) was incorporated in Western Australia on 31 January 2025 as a proprietary company limited by shares. The Company was formed for the purpose of acquiring, exploring and developing mineral resource projects in Australia and overseas. Since incorporation, the Company has:  undertaken pre-listing activities, including raising seed capital; and  identified the Black Hammer Project (comprising exploration licence EL9332), the Peak View Project (comprising exploration licences EL8931 and EL9411) and the Deep Dykes Project (comprising of exploration licenses E29/1155, E29/1156 and E29/1154) (together, the Projects) pursuant to three acquisition agreements (the Acquisition Agreements) as well as applied for additional tenements (being Tuglow ELA6915 (part of Black Hammer) and Mt Hope E30/590 (part of Deep Dykes)) as detailed below. The tenements comprising the Black Hammer Project and the Peak View Project are located in New South Wales and are considered prospective for copper, zinc, silver, gold and nickel. The tenements comprising the Deep Dykes Project are located in Western Australia and are considered prospective for gold and lithium. Completion of settlement under each of the Acquisition Agreements is conditional on (amongst other things) Exultant receiving conditional approval in writing from the ASX to admit Exultant to the official list of ASX. The Company now wishes to proceed to complete settlement of the Acquisition Agreements and pursue admission to the official list of ASX. Black Hammer Project The Black Hammer Project is comprised of one exploration licence of 60 units (174 km2) located approximately 130kms west of Sydney. The licence straddles the top of the Great Dividing Range with elevations between 1,000m and 1,350m. The area is used for grazing and pine plantation forestry. Peak View Project The Peak View Project is comprised of two exploration licenses EL9411 (32 units) and EL8931 (10 units) located approximately 32kms north-east of Cooma in New South Wales. The project has a comprehensive historic database including extensive soil geochemistry and drilling. Deep Dykes Project The Deep Dykes Project is comprised of three exploration licences E29/1155, E29/1156, E29/1154 located ~100kms north west of Menzies in Western Australia. The area is considered highly prospective for gold and lithium with several discoveries having been made in the region. DIRECTORS’ REPORT continued Exultant Mining Limited 3 ENVIRONMENTAL REGULATION The Company is subject to significant environmental and monitoring requirements in respect of its natural resources exploration activities. The Directors are not aware of any significant breaches of these requirements during the period. The Company’s principal activities are exploration for gold and metals. MATERIAL BUSINESS RISKS The Company exploration and evaluation operations will be subject to the normal risks of mineral exploration. The material business risks that may affect the Company are summarised below. Risk Summary Limited history The Company was incorporated on 31 January 2025 and therefore has limited operational history and historical financial performance. The prospects of the Company must be considered in light of the risks and difficulties frequently encountered by companies in the early stages of their development, particularly in the mineral exploration sector, which has a high level of inherent risk and uncertainty. No assurance can be given that the Company will achieve commercial viability through the exploration and development of the Projects. Exploration and development risks Mineral exploration, development and mining activities are high-risk undertakings that may be impeded by circumstances and factors beyond the control of the Company. There can be no assurance that exploration on the Company’s tenements, or any other mineral properties that may be acquired in the future, will result in the discovery of an economic ore deposit. Even if an apparently viable deposit is identified, there is no guarantee that it can be economically exploited. Exploration costs The exploration costs of the Company are based on certain assumptions with respect to the method and timing of exploration. By their nature, these estimates and assumptions are subject to significant uncertainties and, therefore, the actual costs may materially differ from these estimates and assumptions. Accordingly, no assurance can be given that the cost estimates and the underlying assumptions will be realised in practice, which may materially and adversely affect the Company’s viability. Tenements Interests in all tenements in Australia are governed by the respective State and Territory legislation and are evidenced by the granting of licences or leases. Each licence or lease is for a specific term and carries with it annual expenditure and reporting commitments, as well as other conditions requiring compliance. Consequently, the Company could lose title to, or its interest in, tenements if licence conditions are not met or if insufficient funds are available to meet expenditure commitments. The maintaining of exploration licences, obtaining renewals, or getting additional exploration or mining licences granted, often depends on the Company being successful in obtaining the required statutory approvals for its proposed activities and that the licences, concessions, leases, permits or consents it holds will be renewed as and when required. There is no assurance that such renewals will be given as a matter of course and there is no assurance that new conditions (such as increased expenditure and work commitments) will not be imposed in connection with any such renewals. The imposition of new conditions or the inability to meet those conditions may adversely affect the operations, financial position and/or the performance of the Company. Environmental risks Mineral exploration and development activities have inherent risks and liabilities associated with safety and damage to the environment, and the disposal of DIRECTORS’ REPORT continued Exultant Mining Limited 4 waste products. The occurrence of any such safety or environmental incident could delay exploration programs. Events such as unpredictable rainfall or bushfires, may impact on the Company’s ongoing compliance with environmental legislation, regulations and licences. Significant liabilities could be imposed on the Company for damages, clean-up costs or penalties in the event of certain discharges into the environment, environmental damage caused by previous operations or non-compliance with environmental laws or regulations. Future capital requirements As an exploration and development company, the Company does not operate on a cashflow positive basis and is reliant on raising funds from investors in order to continue to fund its operations and execute on its exploration and development strategy. The funds to be raised under the IPO are considered sufficient to meet the immediate objectives of the Company. However, the Company’s capital requirements depend on numerous factors and the Company will require additional debt or equity financing in the future to maintain or grow its business in addition to funds raised under the IPO. There can be no assurance that the Company will be able to secure additional capital from debt or equity financing on favourable terms or at all. The Company may also seek to raise funds through earn-in and joint ventures, production sharing arrangements or other means. If the Company is unable to raise additional capital if and when required, this could delay, suspend or reduce the scope of the Company’s business operations (including scaling back exploration and development programs) and could have a material adverse effect on the Company’s operating and financial performance. Any additional equity financing may result in dilution for some or all shareholders, and debt financing, if available, may involve restrictive covenants which limit operations and business strategy. PRINCIPAL ACTIVITIES The principal activity of the entity during the financial period was acquiring a portfolio of exploration properties in New South Wales and Western Australia through the intention of an initial public offer prospectus. CORPORATE  On 31 January 2025 the Company issued 1 incorporation share at $1.00 each for $1  On 4 March 2025 the Company issued 5,000,000 founder shares at $0.02 each for $100,000 DIRECTORS The names of Directors who held office during or since the end of the period: Name Title Brett Grosvenor Non-Independent Executive Chairman (appointed 2 July 2025) Lincoln Ho Independent Non-Executive Director (appointed 2 July 2025) Alan Armstrong Independent Non-Executive Director (appointed 11 March 2025) Stephen Brockhurst Director (appointed 31 January 2025; resigned 11 March 2025) DIRECTORS’ REPORT continued Exultant Mining Limited 5 COMPANY SECRETARY Name Title Amanda Wilton-Heald Company Secretary (appointed 31 January 2025) DIRECTORS’ QUALIFICATIONS AND EXPERIENCE The Directors’ qualifications and experience are set out below: Current Directors Director Details Brett Grosvenor Qualifications B Eng. MBA Position Non-Independent Executive Chairman Appointment Date 2 July 2025 Resignation Date N/A Length of Service 2 months Biography Mr Grosvenor is an experienced executive with over 25 years’ experience in the mining and power industry. Brett has held senior executive positions with a number of companies including director of development of Primero Group, focused on the development of projects from initial concept through to contract delivery and operation. He is a member of the Project Steering Group for Patriot Battery Metals. Current ASX Listed Directorships Firebird Metals Limited [ASX:FRB] Carbine Resources Ltd [ASX:CRB] Former ASX Listed Directorships within last 3 years Firetail Resources Ltd [ASX:FTL] Perpetual Resources Limited [ASX:PEC] Lincoln Ho Qualifications Position Independent Non-Executive Director Appointment Date 2 July 2025 Resignation Date N/A Length of Service 2 months Biography Mr Ho has more than eight years in ASX listed company directorship experience, providing a wide range of business and strategic advice to small cap unlisted and listed public companies. Mr Ho possesses significant experience in mining exploration and investor relations. Current ASX Listed Directorships Auking Mining Limited [ASX:AKN] Former ASX Listed Directorships within last 3 years Aldoro Resources Limited [ASX:ARN] Redcastle Resources Limited [ASX:RC1] Red Mountain Mining Limited [ASX:RMX] Askari Metals Limited [ASX: AS2] DIRECTORS’ REPORT continued Exultant Mining Limited 6 Alan Armstrong Qualifications B.Bus CA GAICD Position Independent Non-Executive Director Appointment Date 11 March 2025 Resignation Date N/A Length of Service 6 months Biography Mr Armstrong is an experienced Company Director with a demonstrated history of working in the mining & metals industry. He currently serves as Company Secretary for several listed ASX companies including, Broken Hill Mines Limited (formerly Coolabah Metals Limited) [ASX:BHM], Cooper Metals Limited [ASX:CPM], First Lithium Limited [ASX:FL1], Titanium Sands Limited [ASX:TSL], Locksley Resources Limited [ASX:LKY]. Current ASX Listed Directorships M3 Mining Limited [ASX:M3M] Former ASX Listed Directorships within last 3 years None Former Directors Director Details Stephen Brockhurst Qualifications BCom Position Director Appointment Date 31 January 2025 Resignation Date 11 March 2025 Length of Service 1 month Biography Mr Brockhurst has over 20 years’ experience in the finance and corporate advisory industry and has been responsible for the due diligence process and preparation of prospectuses on a number of initial public offers. His experience includes corporate and capital structuring, corporate advisory and company secretarial services, capital raising, ASX and ASIC compliance requirements. Mr Brockhurst has served on the board and acted as Company Secretary for numerous ASX listed companies. Current ASX Listed Directorships Former ASX Listed Directorships within last 3 years Firetail Resources Limited [ASX:FTL] Locksley Resources Limited [ASX:LKY] DIRECTORS’ REPORT continued Exultant Mining Limited 7 MEETINGS OF DIRECTORS The number of meetings held during the period and the number of meetings attended by each Director was as follows: Board Number of Meetings Held 1 Number of Meetings Attended: Brett Grosvenor1 - Lincoln Ho1 - Alan Armstrong2 - Stephen Brockhurst3 1 SHARES UNDER OPTION AND PERFORMANCE RIGHT There are nil unissued ordinary shares of the Company under option and nil unissued ordinary shares of the Company under performance right at the date of this report. SHARES ISSUED ON THE EXERCISE OF OPTIONS There were nil ordinary shares of the Company issued during the financial period ended 30 June 2025 and up to the date of this report on the exercise of options. 1 Appointed 2 July 2025. 2 Appointed 11 March 2025. 3 Resigned 11 March 2025. DIRECTORS’ REPORT continued Exultant Mining Limited 8 DIRECTORS’ INTERESTS AND BENEFITS The movement during the reporting period in the number of fully paid ordinary shares of the Company held directly, indirectly or beneficially, by each Director or key management personnel, including their personally-related entities is as follows: Director No. Shares Held at 31 January 2025 Purchases Exercise of Options Other Changes No. Shares Held at 30 June 2025 No. Shares Held at Date of this Report Brett Grosvenor4 Directly - - - - - - Indirectly - - - - - 500,000 Lincoln Ho4 Directly - - - - - 350,000 Indirectly - - - - - - Alan Armstrong5 Directly - - - - - - Indirectly - - - - - - Stephen Brockhurst6 Directly - - - - - N/A Indirectly - 1 - - 1 N/A Total - 1 - - 1 850,000 4 Appointed 2 July 2025. 5 Appointed 11 March 2025. 6 Resigned 11 March 2025. DIRECTORS’ REPORT continued Exultant Mining Limited 9 The movement during the reporting period in the number of options over ordinary shares of the Company held directly, indirectly or beneficially, by each Director or key management personnel, including their personally-related entities is as follows: Director No. Options Held at 31 January 2025 Grant of Options Exercise of Options Other Changes No. Options Held at 30 June 2025 No. Options Held at Date of this Report Brett Grosvenor7 Directly - - - - - - Indirectly - - - - - - Lincoln Ho7 Directly - - - - - - Indirectly - - - - - - Alan Armstrong8 Directly - - - - - - Indirectly - - - - - - Stephen Brockhurst9 Directly - - - - - - Indirectly - - - - - - Total - - - - - - 7 Appointed 2 July 2025. 8 Appointed 11 March 2025. 9 Resigned 11 March 2025. DIRECTORS’ REPORT continued Exultant Mining Limited 10 The movement during the reporting period in the number of performance rights over ordinary shares of the Company held directly, indirectly or beneficially, by each Director or key management personnel, including their personally-related entities is as follows: Director No. Performance Rights Held at 31 January 2025 Grant of Performance Rights Exercise of Performance Rights Other Changes No. Performance Rights Held at 30 June 2025 No. Performance Rights Held at Date of this Report Brett Grosvenor10 Directly - - - - - - Indirectly - - - - - - Lincoln Ho10 Directly - - - - - - Indirectly - - - - - - Alan Armstrong11 Directly - - - - - - Indirectly - - - - - - Stephen Brockhurst12 Directly - - - - - - Indirectly - - - - - - Total - - - - - - 10 Appointed 2 July 2025. 11 Appointed 11 March 2025. 12 Resigned 11 March 2025. DIRECTORS’ REPORT continued Exultant Mining Limited 11 REMUNERATION REPORT Introduction The Directors present the Remuneration Report for the Company for the period ended 30 June 2025. This Remuneration Report forms part of the Directors’ Report in accordance with the requirements of the Corporations Act 2001 and its regulations. For the purposes of this report, Key Management Personnel (KMP) of the Company are defined as those persons having authority and responsibility for planning, directing and controlling the major activities of the Company, directly or indirectly, including any director (whether executive or otherwise) of the Parent Entity. Remuneration Policy The Company’s remuneration policy has been designed to align Director and Executive objectives with shareholder and business objectives by providing a fixed remuneration component and offering specific long-term incentives based on key performance areas affecting the Company’s financial results. The Board believes the remuneration policy to be appropriate and effective in its ability to attract and retain the best Executives and Directors to run and manage the Company, as well as create goal congruence between Directors, Executives and shareholders. The Board’s policy for determining the nature and amount of remuneration for Board members and senior Executives of the Company is as follows:  The remuneration policy, setting the terms and conditions for the Executive Directors and other senior Executives, was developed by the Board.  All Executives receive a base salary (which is based on factors such as length of service and experience), superannuation and are entitled to the issue of share options.  Incentive paid in the form of share options are intended to align the interests of Directors and the Company with those of the shareholders. The performance of Executives is measured against criteria agreed annually with each Executive and is based predominantly on the forecast growth of the Company’s shareholders’ value. The Board may, however, exercise its discretion in relation to approving incentives, bonuses and options, and can recommend changes to the committee’s recommendations. Any changes must be justified by reference to measurable performance criteria. The policy is designed to attract the highest calibre of Executives and reward them for performance that results in long-term growth in shareholder wealth. Executives are also entitled to participate in the employee share and option arrangements. All remuneration paid to Directors and Executives is valued at the cost to the Company and expensed, or capitalised to exploration expenditure if appropriate. Options, if given to Directors and Executives in lieu of remuneration, are valued using the Black-Scholes methodology. The Board policy is to remunerate Non-Executive Directors at market rates for time, commitment and responsibilities. The remuneration committee determines payments to the Non-Executive Directors and reviews their remuneration annually, based on market practice, duties and accountability. Independent external advice is sought when required. The maximum aggregate amount of fees that can be paid to Non- Executive Directors has been set at $500,000pa. Fees for Non-Executive Directors are not linked to the performance of the Company. However, to align Directors’ interests with shareholder interests, the Directors are encouraged to hold shares in the Company and are able to participate in the employee securities incentive plan. Remuneration Report Approval at FY2025 AGM The remuneration report for the period ended 30 June 2025 will be put to shareholders for approval at the Company’s AGM which will be held in November 2025. DIRECTORS’ REPORT continued Exultant Mining Limited 12 Details of Remuneration Details of the remuneration of the Directors, other key management personnel of the Company and specified executives of the Company for the period ended 30 June 2025 respectively are set out on the following tables: 13 Appointed 11 March 2025. 14 Resigned 11 March 2025. 15 Appointed 2 July 2025. Director / KMP Perio d Fixed STI LTI Total Proportion of Remuneration Salary and fees $ Other fees $ Termination Payment $ Superannuation $ Incentive Payments $ Fair value of Share Options (equity settled) $ $ Fixed % STI % LTI % Non-Executive Directors Lincoln Ho15 2025 - - - - - - - - - - 2024 - - - - - - - - - - Alan Armstrong13 2025 - - - - - - - - - - 2024 - - - - - - - - - - Stephen Brockhurst14 2025 - - - - - - - - - - 2024 - 1,870 - - - - 1,870 100 - - Total Non-Executive Directors 2025 - 1,870 - - - 1,870 100 - - 2024 - - - - - - - - - - Executive Directors Brett Grosvenor15 2025 - - - - - - - - - - 2024 - - - - - - - - - - Total Executive Directors 2025 - - - - - - - - - - 2024 - - - - - - - - - - DIRECTORS’ REPORT continued Exultant Mining Limited 13 Service Agreements The Company has entered a consultancy agreement with Salvador Consulting Pty Ltd <B&U Family Trust> and a letter of appointment with Brett Grosvenor dated 13 August 2025, pursuant to which Brett Grosvenor serves as the Company’s Executive Chairman (Grosvenor Agreements). Mr Grosvenor was appointed as Executive Chairman of the Company from 3 July 2025 pursuant to the Grosvenor Agreements. The Company will pay Salvador Consulting Pty Ltd <B&U Family Trust> $6,250 per month (exclusive of GST) for services provided by Mr Grosvenor as a Director from 1 August 2025, and thereafter $150,000 per annum (exclusive of GST) from the ASX listing date. The Board may, in its absolute discretion invite Mr Grosvenor to participate in bonus and/or other incentive schemes in the Company that it may implement from time to time, subject to compliance with the Corporations Act and Listing Rules. The agreement is for an indefinite term, continuing until terminated by either the Company or Mr Grosvenor giving not less than 3 month's written notice of termination to the other party (or shorter period in limited circumstances). Mr Grosvenor is also subject to restrictions in relation to the use of confidential information during his employment and after his employment with the Company ceases and being directly or indirectly involved in a competing business during the continuance of his employment with the Company and for a period of 1 month after his employment with the Company ceases, on terms which are otherwise considered standard for agreements of this nature. In addition, the agreement contains additional provisions considered standard for agreements of this nature. The Company has entered into agreements with its Non-Executive Directors. Share Based Compensation No ordinary shares in the Company were provided as a result of an exercise of remuneration options or remuneration performance rights in this reporting period. End of Remuneration Report. REVIEW OF RESULTS The loss after tax for the period ended 30 June 2025 was $76,261 (2024: $Nil loss). The earnings of the Company since incorporation are summarised below: 30 June 2025 $ Revenue - EBITDA (76,261) EBIT (76,261) Profit / (loss) after income tax (76,261) DIVIDENDS No dividends were paid or declared during the period ended 30 June 2025 (2024: Nil). DIRECTORS’ REPORT continued Exultant Mining Limited 14 INDEMNIFICATION AND INSURANCE OF OFFICERS The Company has agreed to indemnify all of the Directors of the Company for any liabilities to another person (other than the Company or related body corporate) that may arise from their position as Directors of the Company and its controlled entities, except where the liability arises out of conduct involving a lack of good faith. PROCEEDINGS ON BEHALF OF THE COMPANY No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on behalf of the Company, or to intervene in any proceedings to which the Company is a party for the purpose of taking responsibility on behalf of the Company for all or part of those proceedings. No proceedings have been brought or intervened in on behalf of the Company with leave of the Court under section 237 of the Corporations Act 2001. CORPORATE GOVERNANCE The Board has not set measurable gender diversity objectives for the 2025 financial period because the Board considered the application of a measurable gender diversity objective requiring a specified proportion of women on the Board and in senior executive roles would, given the small size of the Company and the Board, unduly limit the Company from applying the Diversity Policy as a whole and the Company’s policy of appointing based on skills and merit. A performance evaluation of the Board and individual Directors was not undertaken during the period due to the current size of the Board and the infancy of the Company. NON-AUDIT SERVICES Hall Chadwick WA Audit Pty Ltd was appointed as the Company’s auditor and will provide non-audit services to the in the form of an Investigating Accountant’s report. EVENTS SUBSEQUENT TO REPORTING DATE There are no matters or circumstances that have arisen since the end of the period which will significantly affect, or may significantly affect, the state of affairs or operations of the reporting entity in future financial periods other than the following:  On 2 July 2025 o Brett Grosvenor was appointed as Executive Chair of the Company o Lincoln Ho was appointed as Non-Executive Director of the Company  On 3 July 2025 the Company changed from Exultant Mining Pty Ltd to Exultant Mining Limited  On 5 September 2025 the Company issued 3,200,000 seed shares at a price of $0.10 for a total consideration of $320,000 AUDITOR’S DECLARATION OF INDEPENDENCE The auditor’s independence declaration for the period ended 30 June 2025 has been received and is included within the financial statements. This report is made in accordance with a resolution of Directors, pursuant to section 306(3) of the Corporation Act 2001. DIRECTORS’ REPORT continued Exultant Mining Limited 15 Signed in accordance on behalf of the Directors. ____________________ Brett Grosvenor Executive Chairman 26 September 2025 To the Board of Directors, AUDITOR’S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 As lead audit director for the audit of the financial statements of Exultant Mining Ltd for the period ended 30 June 2025, I declare that to the best of my knowledge and belief, there have been no contraventions of:  the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and  any applicable code of professional conduct in relation to the audit. Yours Faithfully HALL CHADWICK WA AUDIT PTY LTD MICHAEL HILLGROVE FCA Director Dated this 26th day of September 2025 Perth, Western Australia STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2025 Exultant Mining Limited 17 Note Company 30 June 2025 $ Other Income - Accounting fees (6,973) Compliance fees (23,269) Directors’ remuneration - Exploration expenditure (8,394) Foreign exchange gain/(loss) - IT expenses (351) Legal fees (37,274) Marketing expenses - Other expenses - Share based payments expense 11 - Travel expenses - Profit/(loss) before tax (76,261) Income tax benefit/(expense) 3 - Net profit/(loss)for the period from operations (76,261) Other comprehensive income - Total comprehensive profit/(loss)for the period (76,261) Basic profit/(loss) per share (cents) 4 (4.69)c The accompanying notes form part of these financial statements. STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2025 Exultant Mining Limited 18 Note Company 30 June 2025 $ ASSETS Current Assets Cash and cash equivalents 5 34,580 Trade and other receivables 6 3,851 Other assets 7 - Total Current Assets 38,431 Non-Current Assets Exploration and evaluation expenditure 8 - Total Non-Current Assets - Total Assets 38,431 LIABILITIES Current Liabilities Trade and other payables 9 34,051 Total Current Liabilities 34,051 Non-Current Liabilities - Total Non-Current Liabilities - Total Liabilities 34,051 Net Assets 4,380 EQUITY Contributed equity 10 80,641 Reserves 11 - Accumulated losses (76,261) Total Equity 4,380 The accompanying notes form part of these financial statements. STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2025 Exultant Mining Limited 19 Company Note Contributed Equity $ Performance Rights Reserve $ Share Options Reserve $ Accumulated Losses $ Total $ Balance at 31 January 2025 - - - - - Equity issues 10 100,001 - - - 100,001 Equity issue costs 10 (19,360) - - - (19,360) Net share-based payments 11 - - Loss for the period - - - (76,261) (76,261) Other comprehensive income - - - - - Total comprehensive loss for the period - - - (76,261) (76,261) Balance at 30 June 2025 80,641 (76,261) 4,380 The accompanying notes form part of these financial statements. STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2025 Exultant Mining Limited 20 Note Company 30 June 2025 $ Cash flows fr