Announcement PDF ESTRELLA RESOURCES LIMITED AND CONTROLLED ENTITIES Re Half Year Report Ended 31 December 2025 ESTRELLA RESOURCES LIMITED AND CONTROLLED ENTITIES Re Contents Page Directors’ Report 3 Auditor’s Independence Declaration 14 Consolidated Statement of Profit or Loss and Other Comprehensive Income 15 Consolidated Statement of Financial Position 16 Consolidated Statement of Changes in Equity 17 Consolidated Statement of Cash Flows 18 Notes to the Financial Statements 19 Directors’ Declaration 28 Independent Auditor’s Review Report 29 Corporate Directory 31 ESTRELLA RESOURCES LIMITED AND CONTROLLED ENTITIES Re DIRECTORS’ REPORT The Directors present their report together with the financial report of Estrella Resources Limited ("the Company") and its wholly owned subsidiaries (together referred hereafter as “the Group” or “the consolidated entity”) for the half-year ended 31 December 2025. The Directors of the Company at any time during or since the end of the half-year are: Leslie Pereira - Non-Executive Chairman Christopher Daws - Managing Director John Kingswood - Non-Executive Director Principal activities The principal activities of the Group during the financial half-year were to explore resource projects in Timor- Leste and to a lesser extent our Western Australia projects. Review of Operations Work Summary Estrella Resources is an innovative resource exploration company which is among a handful of organisations to be a first-mover in the virtually unexplored region of Timor-Leste. While the Company’s focus is firmly on its Timor-Leste assets it also possesses a number of Western Australian based metals projects which have development potential. Timor-leste exploration opportunity Throughout the half-year period, Estrella Resources has made substantial exploration and development progress in Timor-Leste (Figure 1). Figure 1: Estrella’s Timor-Leste concessions ESTRELLA RESOURCES LIMITED AND CONTROLLED ENTITIES Re Ira Miri Manganese Project The Ira Miri project has emerged as a key focus with activities accelerating from maiden drilling to initial production activities via the extraction of a bulk sample for market appraisal. In July, the Company completed its maiden drill hole EMDD001 and trenching operations, which both encountered massive manganese oxides. Estrella reported EMDD001 intersected 6.45m of visual mineralisation 1.35m down hole, with the drillhole ending in manganese oxides at 7.8m depth1 (Figure 2). Figure 2: EMDD001 core from 1.35 (L) & subcropping manganese at trench EMT01 (R) (refer to assay results in Table1) Following initial drilling success, a more powerful diamond drill rig was introduced to increase recoveries and was supplemented with an additional RC rig to accelerate exploration activities. By August, the Company had completed 16 diamond holes and a second trench, with the additional trenching activities uncovering further manganese bedding. The mineralised strike from outcrop locations to primary manganese beds had extended over a 450m length and remained open2 . 1 Refer to ASX announcement dated: 3 June 2025 2 Refer to ASX Announcement dated: 15 August 2025 ESTRELLA RESOURCES LIMITED AND CONTROLLED ENTITIES Re Discoveries via drilling and trenching were supported by the commencement of a large-scale surveying program to enhance geological modelling and drill targeting, across both Ira Miri and Werumata3 . The first phase of surveying consisted of a LiDAR (Light Detection and Ranging) study to which at Ira Miri was used to detect current topographical features as well as signs of historical structures prospective for secondary manganese mineralisation. Results were supplemented with drone magnetics and MobileMT (magnetotellurics) surveying. The drone magnetics were used to identify geological contacts and potential subsurface structures. MobileMT further improved Estrella’s emerging geological dataset through the identification of low electromagnetic resistivity anomalies across Ira Miri, which have the potential to return manganese-rich zones. In September, the company announced maiden assay results for its first three holes via PT Geoservices in Jakarta, which confirmed the presence of primary and secondary manganese discoveries (Table 1)4 . Table 1: Significant results for EMDD001, EMDD002 and EMDD003 Hole_ID mFrom mTo Interval Mn % Al2O3 % Fe2O3 % P % Si % EMDD001 1.35 7.8 6.45 51.7 0.6 0.1 0.1 7.1 EMDD002 0.25 8.30 8.05 53.0 1.0 0.3 0.0 3.8 EMDD003 8.3 9.80 1.5 35.8 4.2 1.7 0.0 14.7 The Company’s maiden hole EMDD001 was drilled vertically into outcropping manganese and successfully encountered thick mineralisation, however the hole ended in mineralisation due to technical difficulties. The hole was subsequently twinned by EMDD002 to improve recovery of the friable manganese oxides. Both holes intersected primary manganese with a thick zone of secondary enrichment >50% Mn. EMDD003 was drilled vertically approximately 15m to the north of EMDD001 and EMDD002 anticipating a flatter supergene horizon between these two locations. Further visual results continued to support these assays with multiple holes intersecting wider zone of supergene mineralisation approximately 65m northwest of the discovery outcrop5 . In particular, EMDD033 intersected 12.87m of 80% manganese oxides from 5.13m and EMDD032 intersected 11.65m including 8.3m of 60% manganese oxides from 5.1m6 (Figure 3). 3 Refer to ASX Announcement dated: 28 August 2025 4 Refer to ASX Announcement dated: 4 September 2025 5 Refer to ASX Announcement dated: 22 September 2025 & 15 October 2025 6 Refer to Page 4 Cautionary Statement regarding uncertainty in reporting visual results ESTRELLA RESOURCES LIMITED AND CONTROLLED ENTITIES Re Figure 3: Secondary manganese in EMDD033, looking from the bottom of the hole. For comparison, the mineralisation at Groote Eylandt Manganese Deposit7 located in the Gulf of Carpentaria ranges from 0.1m to 11.5m thickness, and averages 3m in width. Although the age of the mineralisation of Groote Eylandt is the same as at Ira Miri, the method of formation of manganese at Ira Miri is terrestrial in origin consisting of in-situ supergene enrichment of the Noni Formation. By November, Estrella announced drilling for 2025 had concluded with a total of 45 drill-holes completed for 1,532.50m, of which 29 drill-holes intersected the targeted layers of the Noni Formation8 . Following the conclusion of drilling, Estrella reported further results from a batch of assays from 12-drill holes, with multiple high-grade intervals exceeding 50% Mn and very low impurities (P, Al₂O₃, Fe₂O₃) returned (Table 2)9 . 7 Refer to Munson TJ, Ahmad M and Dunster JN 2013. Chapter 39: Carpentaria Basin ‘Geology and mineral resources of the Northern Territory’. Northern Territory Geological Survey, Special Publication 5 8 Refer to ASX Announcement dated: 24 November 2025 9 Refer to ASX Announcement dated: 12 December 2025 ESTRELLA RESOURCES LIMITED AND CONTROLLED ENTITIES Re Table 2: high-grade manganese highlights from EMDD026 – EMDD036 Drill hole ID Intersection of mineralisation EMDD022 2.9m @ 29.2% Mn from 4.80m EMDD023 2.0m @ 13.7% Mn from 8.4m EMDD025 1.95m @ 28.2% Mn from 1.3m EMDD026 3m @ 35.7% Mn from 1.4m Including: 1.5m @ 55.1% Mn from 1.4m EMDD029 1.7m @ 31.8% Mn from 14.2m EMDD030 1.1m @ 52.6% Mn from 17.3m Including 0.4m @ 58.02% Mn from 18m EMDD031 4.0m @ 25.7% Mn from 9.2m And 1.05m @ 49.6% Mn from 15.9m EMDD032 1.9m @ 24.7% Mn from 5.1m And 5.7m @ 21.5% Mn from 8.6m EMDD033 11.97m @ 28.9% Mn from 5.13m And 2.1m @ 46.78% Mn from 7.7m EMDD034 4.2m @ 17.9% Mn from 8.8m The assay results confirm the composition of the manganese mineralisation at Ira Miri is typical of low-iron, high silica stratiform manganese deposits that form in marine sedimentary rocks upon the continental shelf in a back-arc tectonic setting. Examples of high-silica, low-iron manganese deposits include the giant Molango Manganese deposit (Mexico) and Groote Eylandt Manganese deposit (Australia), both laying claims to being the largest manganese deposits in the world. The mineralisation reported from these assays returned favourable characteristics (Table 3) similar to other high-silica low-iron manganese deposits, highlighting the economic potential of the mineralisation. ESTRELLA RESOURCES LIMITED AND CONTROLLED ENTITIES Re Table 3: Summary of mineralisation intersected by EMDD026 – EMDD036 at Ira Miri Component of mineralisation Average concentration (%) Comment Mn 36% (weighted) With removal of silica, will beneficiate to higher grade. P 0.04% Maximum 0.10% - 0.25% Al2O3 5.12% Low; common range 0.12% to 25% Fe2O3 2.00% Very low; highly desirable for some uses SiO2 37.08% 0.25% - 25% common range A final batch of assays were received in late December with further high-grade manganese mineralisation confirmed, reinforcing the scale and quality of the system (Table 4). Table 4: further high-grade manganese mineralisation from EMDD037 – EMDD040 Drill-hole ID Intersection of mineralisation EMDD037 From 11.50m to 13.00m,1.50m @ 13.4% Mn EMDD038 From 4.00m to 12.00m, 8.00m @17.3% Mn EMDD039 From 9.50m to 14.70m, 5.20m @39.6% Mn Including from 10.00m - 12.50m, 2.5m @ 54.0% Mn EMDD040 From 11.20m to 17.40m, 6.20m @ 45.3% Mn Including from 12.10m to 14.60m, 2.5m @ 50.8% Mn Modelling of these latest results may either represent a layer of manganese mineralisation overlying mineralisation intersected by EMDD001, EMDD002, EMDD003, EMDD022 and EMDD023, or may be the same layer, either folded or off-set by a fault. Mineralisation again possessed favourable characteristics, typical of low-iron, high silica stratiform manganese deposits (Table 5). ESTRELLA RESOURCES LIMITED AND CONTROLLED ENTITIES Re Table 5: Summary of mineralisation intersected by EMDD037 – EMDD040 at Ira Miri Component of mineralisation Average concentration (%) Comment Mn 31% (weighted) with removal of silica, will beneficiate to higher grade P 0.03% <0.005% preferred, maximum 0.10% - 0.25% Al2O3 5.12% Low; common range 0.12% to 25% Fe2O3 2.20% Very low; highly desirable for some uses SiO2 41.20% 0.25% - 25% common range Post-period end, the Company executed an agreement with the Autoridade Nacional dos Minerais, I.P. (ANM) authorising the extraction of up to 30,000 tonnes of high-grade manganese oxide from the Ira Miri Manganese Project for market appraisal purposes10 . The sample is anticipated to be Timor-Leste’s first-ever economic mineral bulk extraction under its modern Mining Code and will provide material for sale, export and testing with potential future long-term offtake partners. The Company intends to extract the high-grade manganese oxide from a well-defined pit designed to excavate the intersected mineralisation reported previously, which includes very high grades (e.g., EMDD002; 8.05m @ 53% Mn) and impressive thicknesses (e.g., EMDD033; 11.97m @ 28.9% Mn). The pit is anticipated to have a maximum depth of approximately 15m with total excavation of approximately 85,000 cubic metres. The topsoil will be stored separately for rehabilitation, and the overburden will be stored in benched external stockpile (Figure 4). Figure 4: Ira Miri proposed manganese bulk sample extraction location and pit design 10 Refer to ASX Announcement dated: 8 January 2026 ESTRELLA RESOURCES LIMITED AND CONTROLLED ENTITIES Re Extraction activities have commenced by an entirely local, Timor-Leste-based contractor operating a sizable fleet. The manganese-bearing mineralised horizon has been successfully intercepted as part of pit excavation activities, validating the Company’s exploration model and providing further confidence in project development11 . Werumata Limestone Project Throughout the period, Estrella substantially accelerated development activities at its Werumata limestone project, located just south of the Uero-Mata Township and potential port location, Timor-Leste. In September, the Company finalised plans for an initial diamond and RC drilling campaign, with the Timor- Leste Minerals Authority, Autoridade Nacional dos Minerais (ANM) approving the Company’s Environmental Impact Statement and Environmental Management Plan12 . The initial drill campaign was arranged to target a series of extensive limestone plateaus with further follow-up stratigraphic diamond drilling and infill drilling to be completed, as required (Figure 5). Figure 5: Location of drilling at the Werumata Limestone Project Limestone drilling commenced in October, with all drill pads and access roads completed ahead of schedule and budget. The Company’s maiden hole was WLD001 (Figure 6). 11 Refer to ASX Announcement dated: 6 February 2026 12 Refer to ASX Announcement dated: 29 September 2025 ESTRELLA RESOURCES LIMITED AND CONTROLLED ENTITIES Re Figure 6: Collaring of the first diamond drillhole WLD001 at the Werumata Limestone Project with Estrella’s exploration team and Coresearch drill team. By November, the Company had completed more than 70% of initial drilling with results revealing the targeted limestone units (Baucau Limestone Formation and the Batu Puthi Formation) vary in thickness across different parts of the Werumata Limestone deposit13 . The Baucau Limestone Formation ranged from 11m – 87m thick and the Batu Puthi Formation (chalk) ranged from 0.6m – 38m thick. Based upon the drill-holes completed to-date, the combined thickness of the Baucau and Batu Puthi formations ranged from 32m – 87m, with an average thickness of 55m. Drilling activities were complemented with a bathymetry survey conducted off the coast at Werumata, where Estrella intends to build a port to export limestone. The survey revealed the preferred site is favourable, with deep water within 100m of the coastline. Drilling was completed in December, consisting of 33 RC drill-holes for a total of 2,804m, and 9 diamond core drill-holes for a total of 913.10m, bringing the combined total to 3,717.10m drilled14 . Post-period end, Estrella received its maiden batch of limestone assays for holes: WLR001 – WLR011, following sample inspection by Timor-Leste government agencies and dispatch to PT Geoservices in Jakarta Indonesia15 . The broad intersections are highly encouraging with Estrella targeting a JORC compliant resource of at least 500 million tonnes of limestone from the interpreted calcite deposit. Diamond drill-holes have also assisted verification of stratigraphy, which can be summarised as consisting of a young, shallow marine sequence (the Baucau Limestone Formation) unconformably overlying older rocks. In most cases, the Batu Putih Formation (dominated by chalk), which unconformably overlies much older rocks interpreted as the Noni Formation, underlies the Baucau limestone. 13 Refer to ASX Announcement dated: 4 November 2025 14 Refer to ASX Announcement dated: 18 December 2025 15 Refer to ASX Announcement dated: 11 February 2026 ESTRELLA RESOURCES LIMITED AND CONTROLLED ENTITIES Re The limestone includes distinct facies but has an average grade of 84.0% CaCO3, equivalent to 47% CaO. The silica (SiO2) content of the Baucau Limestone varies according to the facies, with former beaches being sandier but, overall, averages 7% SiO2. Unlike many marine limestones the magnesium content is very low, averaging only 2% MgO, equivalent to 1.2% Mg. The average alumina (Al2O3) content is low (<2%), as is the average ferric oxide content (<1%). The overall composition of the Baucau Limestone suggests that the limestone has potential to be used for acid- neutralisation and other purposes, broadening the potential target market for limestone produced from the Werumata Limestone project. In many, but not all locations underlying the Baucau Limestone chalk, the Batu Putih Formation is present. The most distinctive unit of the Batu Putih Formation is chalk. The chalk varies in texture and composition, chiefly through variations in silica content, which is higher (average 11% SiO2) than the Baucau Limestone. The chalk has a very low magnesium content (1.3% MgO i.e., 0.8% Mg) but higher average alumina (Al2O3) content (<4%) and higher ferric oxide content (<1.5%) than the Baucau Limestone. Beneath the chalk there is a variable thickness of marl, which has been logged up to 32m thickness (WLR018) but the Ca content of the marl is highly variable. A marl unit is also present under parts of the Baucau Limestone and is also highly variable. WESTERN AUSTRALIAN ASSETS The Company continues to maintain its Carr Boyd Ni/Cu Project with a full-time caretaker on-site allowing for a quick resumption of exploration activities if/when warranted. Discussions around potential future work at the site includes the drilling of high-priority nickel targets defined by the 2023 TargetEm and AFMAG programs. This work may be undertaken in tandem with training for our Timorese partners utilising modern diamond drilling equipment and techniques. Compliance Statement With reference to previously reported Exploration Results and Mineral Resources, the Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. Forward Looking Statements This announcement contains certain forward-looking statements which have not been based solely on historical facts but, rather, on ESR’s current expectations about future events and on a number of assumptions which are subject to significant uncertainties and contingencies many of which are outside the control of ESR and its directors, officers and advisers Competent Person Statement The information in this announcement relating to Exploration Results is based on information compiled by Peter Spitalny, who is the Exploration Manager, Timor Leste of Estrella Resources, and a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Spitalny has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity they are undertaking to qualify as ESTRELLA RESOURCES LIMITED AND CONTROLLED ENTITIES Re Competent Persons as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resource and Ore Reserves”. Mr Spitalny consents to the inclusion in the report of the matters based on their information in the form and context in which it appears. Dividends In respect to the current year, no dividends were paid or declared during the half-year by the Company and no recommendation is made as to dividends. Results The loss for the half-year ended 31 December 2025 attributable to the Group was $21,893,866 (2024: loss $721,599). Significant changes in the state of affairs There were no significant changes in the state of affairs of the Group during the financial half-year. Events Subsequent to reporting date On 5 January 2026, the Company announced the appointment of Mr Robert Mencel as Chief Executive Officer and granted 10,000,000 zero exercise options expiring 4 January 2031. On 13 January 2026, the Company issued 250,000 fully paid ordinary shares at an issue price of $0.036 as conversion of 250,000 Performance rights after satisfaction of performance conditions. On 3 March 2026, 4,617,611 fully paid ordinary shares were issued following the conversion of 2,117,611 Listed Options (ASX: ESROB) at $0.018 for a total of $38,117, and the conversion of 2,500,000 Performance rights after the satisfaction of performance conditions. On 13 March 2026, the Company announced an update on its ongoing dispute against WIN Metals Limited (ASX: WIN), Auric Mining Limited (ASX: AWJ), and Neometals Limited (ASX: NMT), and their wholly-owned subsidiaries regarding Estrella’s entitlement to receive a royalty in respect of lithium-bearing ore extracted from Mining Lease M15/87. The Company advised shareholders that pleadings have been filed in proceedings and the matter is listed for mediation on 29 April 2026. Other than the above, no matters or circumstances since the end of the year have occurred that have significantly affected or may significantly affect the operations, the results of the operations or the state of affairs of the Group in subsequent financial years. Auditor’s Independence Declaration A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out immediately after this directors’ report. This report is made in accordance with a resolution of directors, pursuant to section 306(3)(a) of the Corporations Act 2001 Christopher Daws Managing Director 16 March 2026 RSM Australia Partners is a member of the RSM network and trades as RSM. RSM is the trading name used by the members of the RSM network. Each member of the RSM network is an independent accounting and consulting firm which practices in its own right. The RSM network is not itself a separate legal entity in any jurisdiction. RSM Australia Partners ABN 36 965 185 036 Liability limited by a scheme approved under Professional Standards Legislation RSM Australia Partners Level 32 Exchange Tower, 2 The Esplanade Perth WA 6000 GPO Box R1253 Perth WA 6844 T +61 (0) 8 9261 9100 www.rsm.com.au AUDITOR’S INDEPENDENCE DECLARATION As lead auditor for the review of the financial report of Estrella Resources Limited for the half-year ended 31 December 2025, I declare that, to the best of my knowledge and belief, there have been no contraventions of: (i) the auditor independence requirements of the Corporations Act 2001 in relation to the review; and (ii) any applicable code of professional conduct in relation to the review. RSM AUSTRALIA Perth, WA TUTU PHONG Dated: 16 March 2026 Partner ESTRELLA RESOURCES LIMITED AND CONTROLLED ENTITIES Re Page 15 Half Year Report Dec 25 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For the half-year ended 31 December 2025 Note 31 Dec 2025 31 Dec 2024 $ $ Interest Income 29,243 2,450 Other income - 36,124 Personnel costs and director fees (208,755) (256,102) Legal fees (45,482) (49,698) Exploration costs written-off (374) (1,997) Impairment of exploration and evaluation expenditure 2 (20,565,238) - Consulting fees (196,057) (153,627) Share-based payments expense 5 (443,766) (65,487) Depreciation (60,631) (55,843) Other expenses (402,806) (177,419) LOSS BEFORE INCOME TAX EXPENSE (21,893,866) (721,599) Income tax expense - - LOSS AFTER INCOME TAX EXPENSE FOR THE HALF-YEAR (21,893,866) (721,599) Other Comprehensive (Loss)/Income Items that may be reclassified subsequently to profit or loss Foreign currency translation (265,076) 42,299 Other comprehensive income for the half-year (265,076) 42,299 TOTAL COMPREHENSIVE LOSS FOR THE HALF- YEAR (22,158,942) (679,300) Basic (loss) per share (cents) (1.01) (0.04) Diluted (loss) per share (cents) (1.01) (0.04) The consolidated statement of profit or loss and other comprehensive Income should be read in conjunction with the attached notes to the financial statements. ESTRELLA RESOURCES LIMITED AND CONTROLLED ENTITIES Re Page 16 Half Year Report Dec 25 CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at 31 December 2025 Note 31 Dec 2025 31 Jun 2025 $ $ Current Assets Cash and cash equivalents 893,368 6,558,417 Trade and other receivables 540,078 503,590 Total Current Assets 1,433,446 7,062,007 Non-Current Assets Plant and equipment 431,435 284,869 Exploration and evaluation expenditure 2 6,384,726 22,552,833 Total Non-Current Assets 6,816,161 22,837,702 Total Assets 8,249,607 29,899,709 Current Liabilities Trade and other payables 495,486 550,248 Other payables - 5,000,000 Provisions 185,231 192,035 Total Current Liabilities 680,717 5,742,283 Total Liabilities 680,717 5,742,283 Net Assets 7,568,890 24,157,426 Equity Share capital 3 49,724,664 44,617,863 Reserves 4 1,695,943 1,539,066 Accumulated losses (43,851,717) (21,999,503) Total Equity 7,568,890 24,157,426 The consolidated statement of financial position should be read in conjunction with the attached notes to the financial statements. ESTRELLA RESOURCES LIMITED AND CONTROLLED ENTITIES R Page 17 Half Year Report Dec 25 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY For the half-year ended 31 December 2025 Issued Capital Accumulated Losses Option Reserve Foreign Currency Reserve Total Equity $ $ $ $ Balance at 1 July 2025 44,617,863 (21,999,503) 1,606,460 (67,394) 24,157,426 Loss for the half-year - (21,893,866) - - (21,893,866) Other comprehensive loss for the half-year (67,394) (197,682) (265,076) Total comprehensive loss for the half-year - (21,961,260) - (197,682) (22,158,942) Transactions with owners in their capacity as owners: Shares issued 5,225,191 - (62,560) - 5,162,631 Share-based payments - - 526,164 - 526,164 Options expired 109,046 (109,046) - Share issue costs (118,390) - - - (118,390) Total transactions with owners, in their capacity as owners 5,106,801 109,045 354,559 - 5,570,405 Balance at 31 December 2025 49,724,664 (43,851,717) 1,961,019 (265,076) 7,568,890 Balance at 1 July 2024 Balance at 1 July 2015 39,470,928 (19,919,749) 1,167,415 - 20,718,594 Loss for the half-year - (721,599) - - (721,599) Other comprehensive loss for the half-year - - - 42,299 42,299 Total comprehensive loss for the half-year - (721,599) - 42,299 (679,300) Transactions with owners, in their capacity as owners Shares issued 1,600,000 - - - 1,600,000 Share-based payments - - 96,487 - 96,487 Share issue costs (106,508) - - - (106,508) Total transactions with owners, in their capacity as owners 1,493,492 - 96,487 - 1,589,979 Balance at 31 December 2024 40,964,420 (20,641,348) 1,263,902 42,299 21,629,273 ESTRELLA RESOURCES LIMITED AND CONTROLLED ENTITIES R Page 18 Half Year Report Dec 25 CONSOLIDATED STATEMENT OF CASH FLOWS For the half-year ended 31 December 2025 31 Dec 2025 31 Dec 2024 $ $ CASH FLOWS FROM OPERATING ACTIVITIES Payments to suppliers and employees (515,526) (604,237) Interest received 29,243 2,450 Interest paid - (5,514) NET CASH USED IN OPERATING ACTIVITIES (486,283) (607,301) CASH FLOWS FROM INVESTING ACTIVITIES Payments for exploration and evaluation expenditure (4,833,231) (470,024) Payments for plant and equipment (207,100) (98,190) Proceeds from sale of purchased investment equities - 198,840 NET CASH USED IN INVESTING ACTIVITIES (5,040,331) (369,374) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issue of shares and options (net of costs) 126,637 1,510,473 NET CASH RECEIVED FROM FINANCING ACTIVITIES 126,637 1,510,473 Net (decrease)/increase in cash and cash equivalents (5,399,974) 533,798 Effects of exchange rate changes on cash and cash equivalents (265,075) (2,224) Cash at the beginning of the financial half-year 6,558,417 196,891 CASH AT THE END OF THE FINANCIAL HALF-YEAR 893,368 728,465 The consolidated statement of cash flows should be read in conjunction with the attached notes to the financial statements. ESTRELLA RESOURCES LIMITED AND CONTROLLED ENTITIES R Page 19 Half Year Report Dec 25 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 1. Material accounting policy information Basis of Preparation The half-year consolidated financial statements are a general purpose financial report which has been prepared in accordance with the requirements of the Corporations Act 2001 and Australian Accounting Standard AASB 134: Interim Financial Reporting. The consolidated half-year financial report does not include all of the information required for a full annual financial report. The half-year financial report is to be read in conjunction with the most recent annual financial report for the year ended 30 June 2025. This report must also be read in conjunction with any public announcements made by Estrella Resources Limited and its controlled entities during the half-year. The financial statements have been prepared on an accruals basis and are based on historical costs, modified, where applicable, by the measurement at fair value of certain non-current assets, financial assets and financial liabilities. The financial statements cover Estrella Resources Limited as a consolidated entity consisting of Estrella Resources Limited and the entities it controlled at the end, or during, the half-year. The financial statements are presented in Australian dollars which is the Company’s functional and presentation currency. These half-year financial statements were authorised for issue on 16 March 2026. (a) Going Concern The financial report have been prepared on the going concern basis, which contemplates continuity of normal business activities and the realisation of assets and discharge of liabilities in the normal course of business. The consolidated entity incurred a loss of $21,893,866 and had net cash outflows from operating and investing activities of $486,283 and $5,040,331 respectively for the half-year ended 31 December 2025. As at that date, the consolidated entity had cash and cash equivalents of $893,368 and net current assets of $752,729. These factors indicate a material uncertainty which may cast significant doubt as to whether the consolidated entity will continue as a going concern and therefore whether it will realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in the financial report. The Directors believe that there are reasonable grounds to believe that the consolidated entity will be able to continue as a going concern, after consideration of the following factors: 1. The Company expects to raise additional capital to fund working capital requirements. The Company has been successful in raising capital whenever it has approached the markets in the past a