Announcement PDF FINANCIAL REPORT for the half year ended 31 December 2023 CORPORATE DIRECTORY ........................................................................................................................................... 3 DIRECTORS’ REPORT ..................................................................................................................................................4 AUDITOR’S INDEPENDENCE DECLARATION.......................................................................................................... 17 DIRECTORS’ DECLARATION ..................................................................................................................................... 18 INDEPENDENT AUDITOR’S REPORT ....................................................................................................................... 19 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME ........................ 21 CONSOLIDATED STATEMENT OF FINANCIAL POSITION ..................................................................................... 22 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ...................................................................................... 23 CONSOLIDATED STATEMENT OF CASH FLOWS .................................................................................................... 24 NOTES TO THE FINANCIAL STATEMENTS .............................................................................................................. 25 2|Page PINNACLE MINERALS HALF YEAR FINANCIAL REPORT 31 DECEMBER 202 3 ` CORPORATE DIRECTORY Directors William (Bill) Witham Maurice (Nic) Matich Stephen Ross Lincoln Liu Executive Chairman Managing Director Non-executive Director Non-executive Director Company Secretary Jay Stephenson Head Office and Registered Office Securities Exchange Registered Office and Principal Place of Business Australian Securities Exchange (‘ASX’) Unit 6, Level 1 389 Oxford Street Level 40, Central Park, 152-158 St Georges Terrace Mt Hawthorn WA 6016 PERTH WA 6000 Telephone +61 8 9426 0666 Telephone: 131 ASX (131 279) (within Australia) Telephone: +61 2 9338 0000 Facsimile: +61 2 9227 0885 Share Registry Website: www.asx.com.au Automic Group ASX Code: PIM Level 2, 267 St Georges Terrace Auditor PERTH WA 6000 Hall Chadwick Audit (WA) Pty Ltd 283 Rokeby Road Subiaco WA 6008 3|Page PINNACLE MINERALS HALF YEAR FINANCIAL REPORT 31 DECEMBER 202 3 ` DIRECTORS’ REPORT Your Directors present their report together with the financial statements of the Group, being the Company and its controlled entities, for the six months ended 31 December 2023. The names, appointment periods and particulars of the Company directors who held office during the half-year and until the date of this report are set out below. Directors were in office for this entire period unless otherwise stated. Director Position Mr. William (Bill) Witham Mr. Maurice (Nic) Matich Mr. Stephen Ross Mr. Lincoln Liu Executive Chairman Managing Director Non-Executive Director Non-Executive Director Date Appointed Date Resigned 3 Nov 2021 20 Oct 2022 3 Dec 2021 8 Dec 2021 - The names of the secretaries in office at any time during or since the end of the half year are: Company Secretary Position Date Appointed Date Resigned Mr. Jay Stephenson Company Secretary 3 November 2021 - Directors have been in office since 1 July 2023 up until the date of this report unless otherwise stated. 4|Page PINNACLE MINERALS HALF YEAR FINANCIAL REPORT 31 DECEMBER 202 3 ` CHAIRMANS LETTER 14 March 24 Subject: Six-Month Report to 31 Dec 2023 of Pinnacle Minerals Limited I am pleased to present the six-month report of Pinnacle Minerals Limited (Pinnacle) for the period ending December 31, 2023. This report summarises our past achievements, upcoming challenges, and future prospects as we continue to navigate the dynamic landscape of minerals exploration. Through rigorous geological analysis and exploration activities, our exploration team has conducted successful exploration campaigns in WA, SA and Canada, uncovering high-potential mineralization in several target areas. These include the expansion of mineral targets in Western Australia for mineral sands and uranium and rare earth elements in South Australia. In Canada, we have forged strategic partnerships with local communities, governments, and industry stakeholders to facilitate responsible and sustainable exploration practices, as well as attract funding from Canadian-based investors. While we have made significant strides, we acknowledge the increasing challenges that persist within the minerals exploration sector. These challenges include regulatory hurdles, geopolitical uncertainties, and environmental concerns. However, we remain committed to overcoming these challenges through robust risk management and sustainable practices. Our commitment to sustainability remains unwavering, and we continue to prioritize environmental stewardship and social responsibility in all our activities. Looking ahead, we are optimistic about the future prospects of Pinnacle. The global demand for minerals, has shown recent weakness but we know will continue to grow over time, driven by urbanization, energy transition, and technological advancements. As a result, we see ample opportunities for growth and value creation in the years to come. Key areas of focus for the upcoming months include accelerated exploration, where we will intensify our exploration efforts in lithium in WA and Quebec, uranium in South Australia , leveraging new technologies and geological expertise to unlock value for our shareholders. We will also push forward with our mineral sands and kaolin projects, which should yield proven reserves in the next year. We are mindful of our financial position and have maintained our cash at bank through the EDLP Fund offtake agreement for our Adina East Project. Our commitment to have a laser-like focus on cost management has enabled us to optimize our exploration expenditure and minimise overheads. Pinnacle will continue to pursue strategic investments in exploration projects with significant upside potential, constantly diversifying and reviewing our portfolio. We remain committed to fostering strong relationships with our shareholders, employees, communities, and other stakeholders, recognizing their importance in our journey towards sustainable growth. In conclusion, I would like to express my sincere gratitude to our shareholders for their continued support and confidence in Pinnacle. Together, we will continue to chart a course towards success, creating long-term value and prosperity for all stakeholders. Thank you for your attention. Warm regards, William (Bill) Witham Chairman Pinnacle Minerals Limited 5|Page PINNACLE MINERALS HALF YEAR FINANCIAL REPORT 31 DECEMBER 202 3 ` REVIEW OF OPERATIONS During the half-year the Company made a loss for the period after providing for income tax that amounted to $1,103,993 (2022: $487,748). Pinnacle Minerals Ltd (“Pinnacle”) is an ASX listed technology minerals company focused on delivering shareholder value via the systematic exploration and development of its portfolio of battery and technology metals projects in Canada, Western Australia and South Australia. Pinnacle aims to deliver exploration success via systematic and geologically rigorous techniques. The Company’s focus is the “Adina East Project” in James Bay, Quebec which is proximal to the world class Adina Lithium Project (Winsome Resources: ASX:WR1) and adjacent to the Trieste Lithium Project (Loyal Lithium: ASX:LLI) and the Tilly Lithium Project (ASX:WR1). The Company’s Australian exploration assets are prospective for Uranium, Rare Earth Elements, Mineral Sands and Kaolin. The September quarter was focused on the Company’s White Knight and Wirrulla Projects, both located in South Australia. On the 19th of July, Pinnacle applied for the “Wirrulla Project” (ELA 2023-00031), primarily for its’ rare earth element (REE) potential, as it is centered on a circular magnetic feature resembling a Mount Weld style intrusion. The tenement was granted (EL 6968) subsequent to the end of the reporting period on the 9th January 2024. Analysis of satellite and radar imagery on the Uranium prospectivity conducted during the reporting period was released on the 17th of January 2024. The project geology has subsequently being reinterpreted with the project considered prospective for both Uranium and Rare Earth Oxide (REE) mineralisation (both hard rock and clay hosted). Data pertaining to the White Knight tenements held on the South Australian Resources Information Gateway (SARIG) was reviewed and historical drill cores held at the Tonsley Core Library were re-assayed. Nine holes returned assays greater than 500ppm Total Rare Earth Oxide (TREO), with three holes returning intervals of greater than 1,000 ppm TREO. These assays are encouraging given they are from the bedrock itself. The potential for higher grade TREO mineralisation in the overlying saprolite and clays is considered high and the assay results themselves have provided Pinnacle with data with which to vector in on higher grade clay hosted REE mineralisation. Figure 1: Wirrulla Project – Image released subsequent to the reporting period 6|Page PINNACLE MINERALS HALF YEAR FINANCIAL REPORT 31 DECEMBER 202 3 ` The December quarter was transformative for Pinnacle, with the Company announcing the acquisition of 75% of the Adina East Lithium Project, located in the prolific James Bay lithium district of Quebec from Electrification and Decarbonization AIE LP (the E&D Fund), an investment fund managed by Waratah Capital Advisors Ltd (Waratah). The transaction was executed on the 20th of December 2023. As part of the transaction a US $500,000 offtake pre-payment was made to Pinnacle by the E&D Fund in consideration for offtake rights to 25% of any minerals extracted from Adina East Project. The funds were received on the 21st of December 2023. The Adina East Lithium Project is located in the prolific lithium region of James Bay, Quebec, Canada. The Project claims cover 72.7km2, bordering an interpreted extension of the Trieste Greenstone Belt and is located 24km from Winsome Resources’ (WR1:ASX) Adina Project (59Mt at 1.12% Li2O)1. Additionally, the Project is adjacent to the Loyal Lithium (LLI:ASX) Trieste Project and the Winsome Resources (WR1:ASX) Tilly Project. During the December quarter, Mr. William (Bill) Witham transitioned to the role of Executive Chairman. Mr. Witham joined the executive team to provide technical expertise as the company continues to diversify into battery metals exploration. Bill’s experience in lithium exploration is well regarded being the founding director and the executive and technical manager of Electrostate Limited. Electrostate developed the Yinnetharra Lithium Project in WA which was sold to Delta Lithium Limited (ASX.DLI) for a circa $25M vendor consideration in September 2022. Delta Lithium has a market capitalisation of c.$213M2 Mr. Witham was previously the Managing Director of Galaxy Resources (now Allkem ASX:AKE) prior to its’ IPO in 2007. Allkem has gone on to be one of the world’s largest lithium producers. On the 25th of October Pinnacle announced the addition of two projects in the Abitibi region of Quebec. The “Lac Rug” and “Lac Bignibi” Lithium Projects cover 271.2 km2 in the Abitibi Greenstone Belt, Quebec, one of the largest mineralrich areas worldwide. The addition of the two projects strengthened Pinnacles land holding in Quebec further accelerated Pinnacles transition to a battery minerals explorer. Pinnacle embarked on first pass reconnaissance exploration of its’ suite of projects in Canada in Late October and early November. Both exploration programs (James Bay and the Abitibi) were shortened by the onset of the Canadian winter. Positive visual results from both projects were received. At the Adina East Project visual assessment of the mineral assemblages may be indicative of a spodumene differentiation trend, including tourmaline, beryl, garnet and muscovite. Figure 2: Sample locations (pegmatite lithologies) 1 – Winsome Resources Limited (ASX:WR1) ASX announcement 11th December 2023 2 – As at the 23rd February 2024 (30 cps) 7|Page PINNACLE MINERALS HALF YEAR FINANCIAL REPORT 31 DECEMBER 202 3 ` In late December the company began land access negotiations with landholders affected by the proposed drill program for the Capel Project. Overall, negotiations were successful, and several access agreements signed during and subsequent to the quarter. Surface rights applications and POW’s have been lodged with the Department of Mines and the Company is eagerly awaiting approval of these submissions and plan to begin a maiden drill program at the project in 2024 targeting heavy mineral sands (primarily ilmenite with zircon credits). The company completed a strategic review of its project portfolio in the December quarter and surrendered the following non-core tenements: Project Tenement Latham Project E70/6318 Tammin Project 8|Page PINNACLE E70/6319 E70/6342 Bobalong Project E70/6094 Camel Lake Project ELA2020-00230 MINERALS HALF YEAR FINANCIAL REPORT 31 DECEMBER 202 3 ` PROJECTS Adina East Lithium Project - Background The Adina East Project is located in Quebec’s James Bay region (Figure 4) with a total of 147 claims encompassing 72.7km2 (7,274.47 ha) adjacent to an interpreted extension of the Trieste greenstone belt (Figure 3). Located within Category-III lands, the Adina East Project does not carry any restrictions relating to mining or exploration according to the James Bay Agreement with the Cree Nation. The Project is adjacent to both Loyal Lithium’s (ASX:LLI) Trieste project where high grade spodumene-bearing dykes (11.5m at 1.72% Li2O)3 were identified less than 6km from the boundary of the Project4 and, Winsome Resources’ Tilly Project where swarming pegmatites have been mapped5. These dykes are interpreted to extend into the Adina East Project. The claims are readily accessible from Mirage Outfitters, 75km to the northwest of the Project, allowing yearround access. Multiple historically mapped pegmatites exist within the Project area. These pegmatites are located approximately 24 km along strike east in the same stratigraphic sequence and location that hosts the Winsome Resources’ (ASX:WR1) Adina Lithium Project, which contains a resource of 59Mt at 1.12% Li2O with high-grade assay results of up to 4.19% Li2O over 4.1m.6 Figure 3: James Bay Province Highlighting Adina East Project Location. 3 – Loyal Lithium Limited (ASX:LLI) ASX announcement 2nd January 2024 4 – Loyal Lithium Limited (ASX:LLI) ASX announcement 16th August 2023 5 – Winsome Resources Limited (ASX:WR1) ASX announcement 19th April 2023 6 – Winsome Resources Limited (ASX:WR1) ASX announcement 14th February 2023 9|Page PINNACLE MINERALS HALF YEAR FINANCIAL REPORT 31 DECEMBER 202 3 ` Lac Rug and Lac Bigniba Projects – Background The Lac Rug Project is centered 26km south-east of Lebel sur Quevillon township, Abitibi, Quebec. The project consists of 207 claims covering a surface area of approximately 116.5km2, which are in the process of being transferred to the company’s 100% owned subsidiary Pinnacle Abitibi Mining Limited. The geological area of the project is favourable for primarily lithium and beryl, but also gold, zinc and base metals. The Lac Bigniba Project is centered 60kms NNE of Amos and 46km west of Lebel-sur-Quevillon township, Abitibi, Quebec. The Geant Dormant Gold Mine (421,600 Oz at 8.08g/t gold7) is located 12kms to the west of the project area. Lac Bigniba consists of 282 claims covering a surface area of approximately 154.7km2, which are in the process of being transferred to Pinnacle Abitibi Mining Limited. Figure 4: Abitibi Province highlighting Lac Rug and Lac Bigniba Project locations. 7 – Inferred and indicated resources, https://abcourt.ca/en/projects/geant-dormant/ and Pinnacle calculations 10 | P a g e PINNACLE MINERALS HALF YEAR FINANCIAL REPORT 31 DECEMBER 202 3 ` South Australian Projects Background on the White Knight and Wirrulla Projects The White Knight Project (Figure 5) covers a total area of 1,148km2 on the western side of the Eyre Peninsula, and is strategically located adjacent to Andromeda Metals (ASX:ADN) high-grade Mount Hope Kaolin Project and Oar Resources (ASX:OAR) high-grade Gibraltar Kaolin-Halloysite Project. Extensive kaolin has historically been recorded at the White Knight Project but has not been followed up with modern exploration techniques. The Wirrulla Project (Figure 1) which was granted subsequent to the reporting date, is 957km2 of tenure in the northwestern extents of the Eyre Peninsula South Australia. The project is centered on a circular magnetic feature resembling a Mount Weld style intrusion and was applied for in July 2023 primarily for its’ rare earth element (REE) potential which was identified from historical drilling intercepts where elevated apatite > 10% (typical in carbonatites) were intercepted. The REE ionic absorption potential of the Narlaby palaeochannel has also been identified by Cobra (COBR.LON) who have defined the Boland Ionic Rare Earth Project which is hosted with-in the palaeochannel. Cobra has recently acquired tenements EL6966 and EL6967 adjacent to the Wirrulla Project which cover a substantial portion of the palaeochannel. Desktop studies undertaken whilst the tenement was under application have highlighted the uranium prospectivity in the northern extents of the tenement where the uranium-bearing Narlaby paleochannel is mapped continuing into the tenement. The palaeochannel hosts high grade uranium mineralisation at Yarranna (Figure 1) only 10km from the targets identified by satellite and radar imagery analysis conducted by Pinnacle. Figure 5: White Knight Project highlighting historical collars and ASX:PNN REE intercept. 11 | P a g e PINNACLE MINERALS HALF YEAR FINANCIAL REPORT 31 DECEMBER 202 3 ` West Australian Projects “Great Southern Projects” (Holly and Bobalong) Drilling previously undertaken at the Bill’s Middle and Tambellup East targets has shown the kaolin at Bobalong to exhibit exceptional quality. Specifications for the kaolin included 38.3% Al2O3 and 45.9% SiO2, high whiteness, and high brightness of 80% to 85%, with small particle size, high opacity, and low impurities. Results achieved to date, indicate the potential for a high-value product suitable for DSO export, via the deep-water port of Albany, 133km to the south. Kaolin samples have been tested at Intertek Genalysis in Australia and Wuhan University of Technology in China. The Company has received a qualification report from the University showing that it meets the specifications for potential offtake partners. The Holly Project consists of two granted tenements covering 136.8km2 with an Exploration Target of between 140mt and 350mt of kaolin8 with a brightness of 74% to 84%. The project is yet to be extensively explored by the Company. Figure 6: Pinnacle Minerals - Great Southern Project(s) 8 – Exploration Target Okapi Resources Ltd Holly Kaolin Project, Auranmore Consulting June 2021 12 | P a g e PINNACLE MINERALS HALF YEAR FINANCIAL REPORT 31 DECEMBER 202 3 ` Capel Mineral Sands Project – Background The project (Figure 7) was previously held by Tronox Limited (NYSE:TROX), a global, vertically integrated producer of titanium dioxide and inorganic chemicals, with a US $2b market capitalisation. Previous, regional-scale exploration, conducted in 2010 by Iluka Resources Limited, discovered moderate-grade HM from surface on several drill lines. Pinnacle believes there is potential for defining cohesive mineralisation at a more local scale, sufficient for delineating an appreciable heavy minerals sands resource, within the tenement. Figure 7: Capel Mineral Sands Project Competent person statement The information in this announcement that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by William Witham, a Competent Person who is a Member of The Australian Institute of Geoscientists (AIG). William Witham is a director of Pinnacle Minerals Ltd. William Witham has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. William Witham consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears. 13 | P a g e PINNACLE MINERALS HALF YEAR FINANCIAL REPORT 31 DECEMBER 202 3 ` During the Reporting Period the company issued 9,088,177 shares and 7,629,637 options as consideration for 75% of the Adina East Project. In addition, the company issued 1.2m options to Directors and Employees and 3m performance options to Mr. Bill Witham as part of his executive remuneration package. The Company’s capital structure at the beginning and end of the Half is outlined below: Ordinary Shares 36,375,200 9,088,117 Existing on Issue 30th June 2023 Acquisition (Adina East) Director and Co-Sec Options Director Options TOTAL: 31st December 2023 Options 33,037,634 7,629,637 1,200,000 3,000,000 44,867,271 45,463,317 SIGNIFICANT CHANGE IN THE STATE OF AFFAIRS There were no significant changes in the state of affairs of the Company. To provide investors with greater diversity and exploration upside the Company diversified its asset base and exploration focus in the final quarter of 2023 towards battery minerals with the acquisition of 75% of the Adina East Project in James Bay Canada and the staking of the Lac Rug and Lac Bigniba Projects in the Abitibi region of Québec, Canada. As such, new subsidiaries, Pinnacle Minerals James Bay Ltd and Pinnacle Abitibi Mining Limited were incorporated during the period. PRINCIPAL ACTIVITIES The Company continued the systematic exploration and development of its portfolio of battery and technology metals projects in Canada, Western Australia and South Australia EVENTS SUBSEQUENT TO THE END OF THE REPORTING PERIOD Wirrulla Project Tenement EL 6968 (Wirrulla Project) was granted on the 11th January 2024. Dirt Exploration (and its principal, Dr Neil Pendock) acquired, processed and analysed Sentinel multispectral data (Sentinel) and Synthetic Aperture Radar (SAR) data over the Wirrulla Project. The methodology employed (resistivity mapping) has been retrospectively shown to detect basement-hosted unconformity-related uranium deposits such as NextGen Energy’s Arrow deposit, the largest, highest-grade undeveloped uranium deposit in the world10. Correlating synthetic aperture radar (SAR) and Sentinel (captured on the 16th of June 2007 and 7th October 2023 respectively) with the Yarranna uranium prospects, Dirt Exploration generated numerous targets (Figure 1), of which a cluster less than 10km from the Yarranna prospects are considered the most prospective. This cluster overlies and is adjacent to an interpreted extension of the Narlaby paleochannel which hosts the Yarranna mineralisation. Manna West Project On the 19th February Pinnacle entered into an exclusive option agreement to acquire the Manna West Lithium Project (Figure 8). The Project is located 3.5km west of the Global Lithium’s (GL1:ASX) Manna Lithium Project (36.0Mt at 1.13% Li2O)11 and overlays greenstones prospective for lithium and gold. Furthermore, the project is within 5km from the Cardunia granitoid which has LCT chemistry and is interpreted to be a driver for lithium mineralisation at the Manna deposit. The project’s proximity to the granitoid is considered by Pinnacle to be optimal for the emplacement of fractionated pegmatites containing lithium rich minerals. 9 – https://www.isoenergy.ca/ 10 – Dr. Neil Pendock, Dirt Exploration, Uranium exploration at Wirrulla, South Australia, using visible-near infrared [VNIR], shortwave infrared [SWIR] & synthetic aperture radar [SAR] satellite imagery 11 - Global Lithium Resources (ASX:GL1) ASX Announcement 26th July 2023 14 | P a g e PINNACLE MINERALS HALF YEAR FINANCIAL REPORT 31 DECEMBER 202 3 ` Figure 8: Manna West Project highlighting regional geology and projects 15 | P a g e PINNACLE MINERALS HALF YEAR FINANCIAL REPORT 31 DECEMBER 202 3 ` AUDITOR’S INDEPENDENCE DECLARATION The lead auditor’s independence declaration, as required under section 307C of the Corporations Act 2001 for the half-year ended 31 December 2023 has been received and can be found on page 17. This Directors’ report is signed in accordance with a resolution of directors made pursuant to s.298(2) of the Corporations Act 2001. For, and on behalf of, the Board of the Company, William Witham Chair Date. 14 March 2024 16 | P a g e PINNACLE MINERALS HALF YEAR FINANCIAL REPORT 31 DECEMBER 202 3 AUDITOR’S INDEPENDENCE DECLARATION PINNACLE MINERALS LIMITED In accordance with section 307C of the Corporations Act 2001, I am pleased to provide the following declaration of independence to the directors of Pinnacle Minerals Limited. As lead audit partner for the review of the financial report of Pinnacle Minerals Limited for the half-year ended 31 December 2023, 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 review; and  any applicable code of professional conduct in relation to the review. Hall Chadwick Audit (WA) Pty Ltd ABN 42 163 529 682 Nikki Shen Director Dated 14 March 2024 17 Pinnacle Minerals Limited and Controlled Entities Half Year Report 31 December 2023 DIRECTORS’ DECLARATION The directors declare that the financial statements and notes are in accordance with the Corporations Act 2001: (a) Comply with Accounting Standards AASB 134: Interim Financial Reporting; and (b) Give a true and fair view of the financial position of the entity as at 31 December 2023 and of its performance for the six months ended on that date. In the directors’ opinion there are reasonable grounds to believe that Pinnacle Minerals will be able to pay its debts as and when they become due and payable. This declaration is made in accordance with a resolution of the directors. For, and on behalf of, the Board of the Company, Mr. William Witham Chair 14 March 2024 18 | P a g e PINNACLE MINERALS HALF YEAR FINANCIAL REPORT 31 DECEMBER 202 3 INDEPENDENT AUDITOR’S REVIEW REPORT TO THE MEMBERS OF PINNACLE MINERALS LIMITED Report on the Half-Year Financial Report Conclusion We have reviewed the accompanying half-year financial report of Pinnacle Minerals Limited (the Company) and controlled entities (the Group), which comprises the consolidated statement of financial position as at 31 December 2023, the consolidated statement of profit or loss and other comprehensive income, the consolidated statement of changes in equity and consolidated statement of cash flows for the half-year ended on that date, notes comprising a summary of significant accounting policies and other explanatory information, and the directors’ declaration. Based on our review, which is not an audit, nothing has come to our attention that causes us to believe that the half-year financial report of the Group is not in accordance with the Corporations Act 2001, including: a) giving a true and fair view of the consolidated financial position of the Group as at 31 December 2023 and of its consolidated financial performance for the half-year ended on that date; and b) complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001. Directors’ responsibility for the half-year Financial Report The directors of the Company are responsible for the preparation of the half-year financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the half-year financial report that is free from material misstatement, whether due to fraud or error. Auditor’s responsibility Our responsibility is to express a conclusion on the half-year financial report based on our review. We conducted our review in accordance with Auditing Standard on Review Engagements ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity, in order to state whether, on the basis of the procedures described, anything has come to our attention that causes us to believe that the half-year financial report is not in accordance with the Corporations Act 2001 including: giving a true and fair view of the Group’s consolidated financial position as at 31 December 2023 and its consolidated financial performance for the half-year ended on that date; and complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001. As the auditor of the Group, ASRE 2410 requires that we comply with the ethical requirements relevant to the audit of the financial report. A review of a half-year financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.