Announcement PDF HALF-YEAR FOR THE SIX MONTHS ENDED 31 DECEMBER 2025 AND ITS CONTROLLED ENTITIES FINANCIAL REPORT ABN: 63 103 323 173 2 | P a g e P I N N A C L E M I N E R A L S H A L F Y E A R F I N A N C I A L R E P O R T 3 1 D E C E M B E R 2 0 2 5 FINANCIAL REPORT for the half year ended 31 December 2025 CORPORATE DIRECTORY ...........................................................................................................................................3 DIRECTORS’ REPORT ..................................................................................................................................................4 AUDITOR’S INDEPENDENCE DECLARATION............................................................................................................8 DIRECTORS’ DECLARATION .......................................................................................................................................9 INDEPENDENT AUDITOR’S REPORT .......................................................................................................................10 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME ........................12 CONSOLIDATED STATEMENT OF FINANCIAL POSITION .....................................................................................13 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ......................................................................................14 CONSOLIDATED STATEMENT OF CASH FLOWS....................................................................................................15 NOTES TO THE FINANCIAL STATEMENTS..............................................................................................................16 ` 3 | P a g e P I N N A C L E M I N E R A L S H A L F Y E A R F I N A N C I A L R E P O R T 3 1 D E C E M B E R 2 0 2 5 CORPORATE DIRECTORY Directors Stephen Ross Chairman William (Bill) Witham Managing Director and Chief Executive Officer Jay Stephenson 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 PERTH WA 6000 Auditor Hall Chadwick Audit (WA) Pty Ltd 283 Rokeby Road Subiaco WA 6008 ` 4 | P a g e P I N N A C L E M I N E R A L S H A L F Y E A R F I N A N C I A L R E P O R T 3 1 D E C E M B E R 2 0 2 5 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 2025. 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 have been in office since 1 July 2024 up until the date of this report unless otherwise stated. Director Position Date Appointed Date Resigned Mr. Stephen Ross Chairman 3 Nov 2021 - Mr. William (Bill) Witham Managing Director and CEO 3 Dec 2021 - Mr. Jay Stephenson Non-Executive Director 15 Dec 2025 - Mr. Lincoln Liu Non-Executive Director 8 Dec 2021 15 Dec 2025 The names of the secretaries in office at any time during orsince the end of the half year are: Company Secretary Position Date Appointed Date Resigned Mr. Jay Stephenson Company Secretary 3 Nov 2021 - ` 5 | P a g e P I N N A C L E M I N E R A L S H A L F Y E A R F I N A N C I A L R E P O R T 3 1 D E C E M B E R 2 0 2 5 CHAIRMANS LETTER Dear Fellow Shareholders, On behalf of the Board of Directors, I am pleased to present the Half-Year Financial Report for Pinnacle Minerals Limited for the period ended 31 December 2025 and to provide an update on the Company’s activities, strategy and outlook. The past six months have been a period of continued progression and disciplined repositioning for Pinnacle as we refine our exploration focus and strengthen the foundations of the business. The Board has remained committed to advancing key projects while maintaining prudent cost control and preserving financial flexibility in a challenging market environment. Our Adina East Lithium Project in Québec remains a cornerstone asset for the Company. Work completed to date continues to support the prospectivity of the tenement package, with ongoing interpretation of geophysical data and geological information assisting in identifying priority target areas. The project is located within a highly active lithium region and remains an important part of our longer-term exploration strategy. In South Australia, the Wirrulla Rare Earths Project continues to represent a valuable strategic holding, offering exposure to commodities that are increasingly critical to global electrification and advanced technologies. In Western Australia, the Capel Heavy Mineral Sands Project remains a significant asset, and we continue to assess its development potential and strategic pathways, including partnership opportunities. During the period, the Company assessed expansion opportunities in North America and entered into preliminary arrangements relating to a portfolio of projects in Idaho. Following further review, the agreement was subsequently terminated. The Board considered this to be the most appropriate outcome as part of our disciplined approach to capital allocation and project selection. Importantly, Pinnacle remains interested in North American opportunities and continues to actively evaluate potential acquisitions that align with our technical, financial and strategic criteria. From a corporate perspective, the Company has continued to focus on maintaining a strong financial position and carefully managing expenditure while progressing exploration programs. This disciplined approach ensures that we are well placed to respond to new opportunities as they arise and to continue building long-term shareholder value. As we move into the next phase, our strategy remains clear. We will continue to advance our core projects, assess new opportunities that complement our existing portfolio, and maintain a strong focus on capital management and operational efficiency. The Board believes that Pinnacle is well positioned to benefit from growing global demand for lithium, rare earth elements and other critical minerals that support the transition to cleaner energy and advanced technologies. On behalf of the Board, I would like to thank our shareholders for their continued support and confidence in Pinnacle Minerals. We look forward to the period ahead as we continue to build momentum and pursue opportunities that enhance shareholder value.67,271 Warm regards, Stephen Ross Chairman Pinnacle Minerals Limited ` 6 | P a g e P I N N A C L E M I N E R A L S H A L F Y E A R F I N A N C I A L R E P O R T 3 1 D E C E M B E R 2 0 2 5 REVIEW OF OPERATIONS During the half-year ended 31 December 2025 the Company made a loss for the period after providing for income tax that amounted to $1,301,666 (2024: $379,639). During the half year, Pinnacle concentrated on progressing its core assets, strengthening its technical understanding of key tenements and maintaining a disciplined approach to expenditure and project evaluation. Canada – Adina East Lithium Project, Québec The Adina East Lithium Project remains a key asset within Pinnacle’s exploration portfolio and continues to form a central part of the Company’s long-term strategy. The project is located in the highly prospective James Bay region of Québec and comprises an extensive tenement package positioned within an emerging lithium district. During the period, the Company continued to focus on the interpretation of historical and recently compiled geophysical data, along with detailed analysis of available geological information. This work has assisted in refining target areas across the project and improving the Company’s understanding of the structural and lithological setting. Several priority zones have been identified for future field assessment and potential exploration activity. The Board remains encouraged by the regional context of the project and the presence of known lithium-bearing pegmatite systems in the broader district. Adina East continues to represent a strong strategic holding for the Company as global demand for lithium remains robust. South Australia – Wirrulla Rare Earths Project The Wirrulla Project in South Australia provides Pinnacle with exposure to rare earth elements in a stable and accessible jurisdiction. The project area is located over a large circular magnetic feature interpreted to be associated with intrusive geology, which may be favourable for rare earth mineralisation. During the half-year, the Company continued reviewing existing geophysical data and historical work to further understand the geological potential of the tenement. The project area benefits from relatively flat terrain and good accessibility, supporting the practicality of future exploration programs. The Company continues to consider the most effective pathway to advance Wirrulla, including staged exploration activities aligned with available funding and broader strategic priorities. Western Australia – Capel Heavy Mineral Sands Project At the Capel Heavy Mineral Sands Project, the Company continued to review historical drilling data and technical information relating to palaeo-shoreline mineralisation. Previous work has demonstrated the presence of heavy mineral sands across multiple zones, with mineral assemblages including ilmenite, zircon and rutile. The project remains a valuable asset within the portfolio and the Company continues to assess its long-term development potential. As part of its ongoing asset management strategy, Pinnacle remains open to partnership or development opportunities that could help advance the project while managing capital requirements. United States – Strategic Review During the period, the Company evaluated an opportunity to expand its footprint into North America through the proposed acquisition of a portfolio of projects in Idaho. Following further review, the agreement relating to this transaction was terminated. This decision was made as part of the Board’s continued focus on disciplined capital allocation and ensuring that all new projects meet the Company’s technical and commercial thresholds. While the transaction did not proceed, Pinnacle continues to view North America as a strategically attractive region and remains actively engaged in assessing alternative opportunities that align with its exploration strategy and commodity focus. Corporate Throughout the period, the Company maintained a strong focus on prudent financial management while progressing technical work across its project portfolio. Expenditure remained targeted toward activities that enhance the understanding and long-term value of key assets, while overheads continued to be carefully managed. The Company continues to evaluate new project opportunities that complement its existing portfolio and provide exposure to commodities critical to the global transition toward electrification, renewable energy and advanced technologies. ` 7 | P a g e P I N N A C L E M I N E R A L S H A L F Y E A R F I N A N C I A L R E P O R T 3 1 D E C E M B E R 2 0 2 5 SIGNIFICANT CHANGE IN THE STATE OF AFFAIRS There were no significant changes in the state of affairs of the Company. 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 Subsequent to the reporting date, the Company announced that all parties had mutually agreed to terminate the agreements relating to the proposed acquisition of the Idaho Antimony critical minerals projects in the United States. These arrangements included the binding heads of agreement associated with the proposed transaction. The termination was agreed amicably and by mutual consent. Following termination, the Company has no further obligations under these agreements. The Company continues to regard the underlying opportunity as strategically relevant and remains focused on assessing and pursuing value-accretive opportunities aligned with its broader exploration strategy. The termination does not have a material financial impact on the Company’s financial position at 31 December 2025. Other than the matter described above, no other matters or circumstances have arisen since the end of the half year that have significantly affected, or may significantly affect, the operations of the Company, the results of those operations, or the state of affairs of the Company in future financial periods. 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 2025 has been received and can be found on page 8. 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, Stephen Ross Chair Date. 12 March 2026 To the Board of Directors AUDITOR’S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 As lead audit director for the review of the financial statements of Pinnacle Minerals and its controlled entities 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: • 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. Yours Faithfully, HALL CHADWICK AUDIT (WA) PTY LTD NIKKI SHEN CA ABN 42 163 529 682 Director Dated this 12th day of March 2026 Perth, Western Australia 8 Pinnacle Minerals Limited and Controlled Entities Half Year Report 31 December 2025 9 | P a g e P I N N A C L E M I N E R A L S H A L F Y E A R F I N A N C I A L R E P O R T 3 1 D E C E M B E R 2 0 2 5 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 2025 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. Stephen Ross Chair 12 March 2026 INDEPENDENT AUDITOR’S REVIEW REPORT TO THE MEMBERS OF PINNACLE MINERALS LIMITED Conclusion We have reviewed the accompanying half-year financial report of Pinnacle Minerals Limited (“the Company”) and Controlled Entities (“the Consolidated Entity”) which comprises the condensed consolidated statement of financial position as at 31 December 2025, the condensed consolidated statement of profit or loss and other comprehensive income, condensed consolidated statement of changes in equity and condensed consolidated statement of cash flows for the half-year ended on that date, a summary of material accounting policies and other selected explanatory notes, and the directors’ declaration. Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the half-year financial report of Pinnacle Minerals Limited and Controlled Entities does not comply with the Corporations Act 2001 including: a. Giving a true and fair view of the Consolidated Entity’s financial position as at 31 December 2025 and of its performance for the half-year ended on that date; and b. Complying with Accounting Standard AASB 134: Interim Financial Reporting and Corporations Regulations 2001. Basis for Conclusion We conducted our review in accordance with ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity. Our responsibilities are further described in the Auditor’s Responsibilities for the Review of the Financial Report section of our report. We are independent of the Company in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants that are relevant to our audit of the annual financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. We confirm that the independence declaration required by the Corporations Act 2001 which has been given to the directors of the Company, would be in the same terms if given to the directors as at the time of this auditor’s review report. Responsibility of the Directors for the 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 control as the directors determine is necessary to enable the preparation of the half-year financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error. . 10 Auditor’s Responsibility for the Review of the Financial Report Our responsibility is to express a conclusion on the half-year financial report based on our review. ASRE 2410 requires us to conclude whether we have become aware of any matter that makes us 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 Consolidated Entity’s financial position as at 31 December 2025 and its performance for the half-year ended on that date, and complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001. 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. HALL CHADWICK AUDIT (WA) PTY LTD NIKKI SHEN CA ABN 42 163 529 682 Director Dated 12th day of March 2026 Perth, Western Australia 11 Pinnacle Minerals Limited and Controlled Entities Half Year Report 31 December 2025 12 | P a g e P I N N A C L E M I N E R A L S H A L F Y E A R F I N A N C I A L R E P O R T 3 1 D E C E M B E R 2 0 2 5 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For the six months ended 31 December 2025 Note 31 December 2025 $ 31 December 2024 $ Revenue and other income 17,477 43,059 Administration expense 303,041 125,582 Professional Fees and legal 173,150 15,914 Share Based Payments 2.2 707,289 42,490 Exploration expensed 4,034 18,441 Director Fees - 90,000 Employee benefit expense 143,629 130,271 Loss before income tax (1,313,666) (379,639) Income tax expense/(benefit) - - Loss for the half year (1,313,666) (379,639) Other comprehensive income for the half year, net of tax - - Total comprehensive loss for the half year (1,313,666) (379,639) Loss per share attributable to the ordinary equity holders of the Company Basic (loss) per share (0.017) (0.008) Diluted (loss) per share (0.008) (0.004) The consolidated statement of profit or loss and other comprehensive income is to be read in conjunction with the accompanying notes. Pinnacle Minerals Limited and Controlled Entities Half Year Report 31 December 2025 13 | P a g e P I N N A C L E M I N E R A L S H A L F Y E A R F I N A N C I A L R E P O R T 3 1 D E C E M B E R 2 0 2 5 CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at 31 December 2025 Note 31 December 2025 $ 30 June 2025 $ Current assets Cash and cash equivalents 3 2,802,995 455,248 Trade and other receivables 4 72,743 43,065 Total current assets 2,875,738 498,313 Non-current assets Mineral exploration and evaluation assets 6 3,045,225 2,972,391 Total non-current assets 3,045,225 2,972,391 Total assets 5,920,963 3,470,704 Current liabilities Trade and other payables 5 115,814 243,620 Total current liabilities 115,814 243,620 Total non-current liabilities - - Total liabilities 115,814 243,620 Net assets 5,805,149 3,227,084 Equity Contributed equity 2 10,891,794 7,707,352 Reserves 2.1 1,518,553 811,264 Accumulated losses (6,605,198) (5,291,532) Total equity 5,805,149 3,227,084 The consolidated statement of financial position is to be read in conjunction with the accompanying notes. Pinnacle Minerals Limited and Controlled Entities Half Year Report 31 December 2025 14 | P a g e P I N N A C L E M I N E R A L S H A L F Y E A R F I N A N C I A L R E P O R T 3 1 D E C E M B E R 2 0 2 5 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY For the six months ended 31 December 2025 Contributed equity Reserves Accumulated Losses Total Equity $ $ $ $ Balance at 01-Jul-2025 7,707,352 811,264 (5,291,532) 3,227,084 Total comprehensive loss for the half year (1,313,666) (1,313,666) Issue of Performance Rights and Options 707,289 - 707,289 Issue of Shares (net of costs) 3,184,442 3,184,442 Balance as at 31 December 2025 10,891,794 1,518,553 (6,605,198) 5,805,149 Balance at 01-Jul-2024 7,707,352 1,570,312 (5,252,496) 4,025,168 Total comprehensive loss for the half year (19,688) 19,688 - Issue of Options - - (379,639) (379,639) Issue of Shares (net of costs) - 42,490 - 42,490 Balance as at 31 December 2024 7,707,352 1,593,114 (5,612,447) 3,688,019 The consolidated statement of changes in equity is to be read in conjunction with the accompanying notes. Pinnacle Minerals Limited and Controlled Entities Half Year Report 31 December 2025 15 | P a g e P I N N A C L E M I N E R A L S H A L F Y E A R F I N A N C I A L R E P O R T 3 1 D E C E M B E R 2 0 2 5 CONSOLIDATED STATEMENT OF CASH FLOWS For the six months ended 31 December 2025 Note 31 December 2025 $ 31 December 2024 $ Cash flow from operating activities Revenue and Interest received 17,476 35,529 Payments to suppliers & employees (781,337) (447,416) Net cash (outflow) from operating activities (763,861) (482,944) Cash flow from investing activities: Payments for exploration expenditure assets (72,834) (249,037) Net cash (outflow) from investing activities (72,834) (249,037) Cash flow from financing activities: Proceeds from issue of options (net of costs) 3,184,442 - Net cash inflow from financing activities 3,184,442 - Net increase / (decrease) in cash held 2,347,747 (731,981) Cash and cash equivalents at the beginning of the half-year 455,248 1,526,258 Cash and cash equivalents at the end of period 3 2,802,995 794,277 The consolidated statement of cash flows is to be read in conjunction with the accompanying notes. NOTES TO THE FINANCIAL STATEMENTS for the six months ended 31 December 2025 16 | P a g e P I N N A C L E M I N E R A L S H A L F Y E A R F I N A N C I A L R E P O R T 3 1 D E C E M B E R 2 0 2 5 GENERAL INFORMATION Pinnacle Minerals Limited is a listed public company limited by shares, domiciled and incorporated in Australia. The Company’s registered office is at Unit 6, Level 1 389 Oxford Street, Mt Hawthorn WA. These are the consolidated financial statements and notes of Pinnacle Minerals Limited (the Company) and controlled entity (collectively the Group). The financial statements comprise the consolidated financial statements of the Group. For the purposes of preparing the consolidated financial statements, the Company is a for-profit entity. The Group is a for-profit entity and is primarily involved in the exploration, development and mining of minerals. The separate financial statements of Pinnacle Minerals Limited, as the parent entity, have not been presented with this financial report as permitted by the Corporations Act 2001 (Cth). The nature of operations and principal activities of the Company are described in the Directors’ Report. 1. BASIS OF PREPARATION The financial statements were authorised for issue on 12 March 2026 by the directors of the Company. 1.1 STATEMENT OF COMPLIANCE The half-year financial report is a general-purpose financial report prepared in accordance with the Corporations Act 2001 and AASB 134 ‘Interim Financial Reporting’. Compliance with AASB 134 ensures compliance with International Financial Reporting Standard IAS 34 ‘Interim Financial Reporting’. The interim report does not include notes of the type normally included in an annual financial report and shall be read in conjunction with the most recent annual financial report in accordance with continuous disclosure requirements arising under the Corporations Act 2001. 1.2 ACCOUNTING STANDARDS THAT ARE MANDATORILY EFFECTIVE FOR THE CURRENT REPORTING PERIOD The Company has adopted all of the new and revised Standards and Interpretations issued by the Australian Accounting Standards Board (the AASB) that are relevant to its operations and effective for an accounting period that begins on or after 1 July 2025. 1.3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS The application of accounting policies requires the use of judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions are recognised in the period in which the estimate is revised if it affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. NOTES TO THE FINANCIAL STATEMENTS for the six months ended 31 December 2025 17 | P a g e P I N N A C L E M I N E R A L S H A L F Y E A R F I N A N C I A L R E P O R T 3 1 D E C E M B E R 2 0 2 5 1.4 GOING CONCERN The 31 December 2025 financial report has been prepared on the going concern basis that contemplates the continuity of normal business activities and the realization of assets and extinguishment of liabilities in the ordinary course of business. The Group incurred a loss for the half-year ended 31 December 2025 of $1,313,666 (2024: $379,639 loss) and a net cash inflow from operating, investing, and financing activities of $2,347,747 (2024: $731,981 outflow). As at 31 December 2025, the Company had working capital of $2,759,924 (2024: $733,181 working capital). The Directors, in their consideration of the appropriateness of the going concern basis for the preparation of the financial report, have prepared a cash flow forecast for the next 12 months from the date of signing. The cash flow forecast reflects that further funding will not be required. At the date of signing this report, the Directors have reasonable grounds to believe that the Group will be able to achieve the matters above and that it is appropriate to prepare the financial report on the going concern basis based on the following: • The Group’s ability to raise funds from external sources to meet ongoing working and investing capital requirements, as demonstrated by the successful completion of the recent placements during the period. • The Group’s ability to reduce expenditure on non-essential activities and manage the timing of cash flows to meet the committed obligations of the business as and when they fall due. 2. ISSUED CAPITAL 31 Dec 2025 No. 31 Dec 2025 $ 30 June 2025 No. 30 June 2025 $ Balance at beginning of the period 45,463,317 7,707,352 45,463,317 7,707,352 Shares issued during the year - - -Placement at $0.04 – 14 Aug 2025 11,365,815 454,633 -Placement at $0.04 – 13 Oct 2025 43,634,185 1,745,367 -Placement at $0.08 – 3 Nov 2025 15,000,000 1,200,000 -Exercise of Options – 28 Oct 2025 100,200 16,023 -Vesting of Performance Rights – 29 Dec 2025 1,656,000 - Issue costs during the year (231,581) - Balance at end of the period 117,219,517 10,891,794 45,463,317 7,707,352 Ordinary shares participate in dividends and the proceeds on winding up of the parent entity in proportion to the number of shares held. At the shareholders’ meetings, each ordinary share is entitled to one vote when a poll is called, otherwise each shareholder has one vote on a show of hands. 31 Dec 2025 No. 30 June 2025 No. Fully paid ordinary shares 117,219,517 45,463,317 NOTES TO THE FINANCIAL STATEMENTS for the six months ended 31 December 2025 18 | P a g e P I N N A C L E M I N E R A L S H A L F Y E A R F I N A N C I A L R E P O R T 3 1 D E C E M B E R 2 0 2 5 2.1 RESERVES 2.1.1 NUMBER OF OPTIONS AND PERFORMANCE RIGHTS 31 Dec 2025 No. 30 Jun 2025 No. Balance at beginning of the period 37,257,271 44,867,271 Performance Rights issued to Directors and KMP1 5,460,000 4,140,000 Bonus issue of Options2 29,300,073 - Options issued to consultants during the period3 10,000,000 - Performance Rights issued to consultants during the period4 4,000,000 - Performance vested to shares5 (1,656,000) - Options exercised during the period (100,200) - Options expired during period (500,000) (11,750,000) Balance at end of the period 83,761,144 37,257,271 1. The Performance Rights issues to Directors and Management were issued on 13 October 2025 as remuneration as an incentive. The Pe