Announcement PDF Annual Report for the year ended 30 June 2026 Annual Report 30 June 2026 Table of Contents Corporate Information………………………………………………………………………………………………………………………1 Chair’s Letter…………………………………………………………………………………………………………………………………….2 Review of Operational Activities……………………………………………………………………………………………………….4 Review of Corporate Activities………………………………………………………………………………………………………..13 Directors’ Report…………………………………………………………………………………………………………………………….14 Auditor’s Independence Declaration……………………………………………………………………………………………….21 Consolidated Statement of Profit and Loss and Other Comprehensive Income……………………………….22 Consolidated Statement of Financial Position………………………………………………………………………………….23 Consolidated Statement of Changes in Equity………………………………………………………………………………….24 Consolidated Statement of Cashflows………………………………………………………………………………………………25 Notes to the Consolidated Financial Statements………………………………………………………………………………26 Consolidated Entity Disclosure Statement…………………………………………………………………………………..……42 Directors’ Declaration………………………………………………………………………………………………………………………43 Independent Auditor’s Report………………………………………………………………………………………………………….44 Additional ASX Information.……………………………………………………………………………………………………………..48 1 | P a g e Annual Report 30 June 2026 Corporate Information Directors Cathy Moises (Non-Executive Chair) Jonathan Fisher (Non-Executive Director) Vikram Kumar (Non-Executive Director) Company Secretary Michael Fry Registered Office & Principal Place of Business Level 3, 435 Roberts Road SUBIACO WA 6008 Telephone: +61 8 9322 1003 Share Registry Automic Registry Services Level 2, 267 St George’s Terrace PERTH WA 6000 Auditors In.Corp Audit & Assurance Pty Ltd Suite 11, Level 1 4 Ventnor Avenue WEST PERTH WA 6005 Website www.apcminerals.com.au Stock Exchange Listing APC Minerals Limited fully paid ordinary shares (ASX code APC) 2 | P a g e Annual Report 30 June 2026 Chair’s Letter Dear Shareholders, Welcome to the 2026 Annual Report for APC Minerals Limited (APC or the Company). The past year has been a frustrating one for the Company. We have undertaken extensive due diligence on a number of project opportunities, committing considerable time, resources and, in some cases, expenditure to assess their merits. For a variety of reasons, these opportunities ultimately either did not meet the investment criteria established by the Board or, despite the considerable effort undertaken by APC, were secured by other parties. While this outcome has been disappointing, the Board remains comfortable with the approach we have taken. Our objective is to identify a quality project for APC and its shareholders and we believe that maintaining discipline around capital allocation and not pursuing an opportunity simply for the sake of expanding the portfolio is fundamental to creating long-term shareholder value. The Laverton Downs Gold Project remains APC's primary exploration focus and represents an important component of the Company's existing portfolio. The Laverton region has experienced considerable exploration activity in recent years, with a number of companies reporting encouraging results and continuing to invest in the region. This increased level of exploration activity reinforces our view of the prospectivity of the broader Laverton district. APC is preparing to commence a drilling program at Laverton Downs targeting geophysical signatures along the Rosemont-Barnicoat Trend. The program is designed to test high priority targets identified geophysical work. We are looking forward to commencing this work and, importantly, to continuing to build our understanding of the geological potential of Laverton Downs. APC's Nexus Project, located in the West Arunta region of Western Australia, is another significant component of our exploration portfolio. The West Arunta has attracted substantial exploration attention since 2022 following the delineation of high- grade, carbonatite-hosted niobium discoveries and the recognition of the broader mineral potential of the region. A number of exploration companies have subsequently committed significant resources to the area. APC's Nexus tenements comprise approximately 179km² of contiguous tenure within this highly prospective emerging mineral province. While exploration in the region continues to evolve, the level of activity by other explorers provides an important indication of the geological potential of the West Arunta and supports our continued interest in the region. The Geological Survey of Western Australia (GSWA) airborne survey across the West Arunta region covering APC’s Nexus Project area has been released recently, and is being analysed by Resource Potentials, with early feedback being that the survey results are encouraging and warrant exploration. Although we have not yet secured a new project during the year, the Board and management remain highly active in evaluating opportunities that could materially strengthen APC's resource portfolio. Our approach remains unchanged. We are seeking opportunities where we believe APC can acquire or earn exposure to quality mineral assets at a valuation that provides genuine potential to create value for existing shareholders. We will continue to assess opportunities carefully, undertake appropriate due diligence and remain prepared to act when the right opportunity presents itself. The Board recognises that patience is required when pursuing this strategy. In a competitive market, there will inevitably be opportunities that do not proceed and others that are ultimately secured by competing parties. What is important is that we remain disciplined and do not compromise our investment criteria simply to achieve a transaction. 3 | P a g e Annual Report 30 June 2026 The Board and management remain committed to a disciplined approach to capital allocation and to ensuring that the Company's limited resources are directed towards activities capable of delivering meaningful long-term value. We recognise that the patience of our shareholders is important, particularly during a period in which the Company has been actively assessing opportunities without yet completing a major transaction. We believe, however, that quality should take precedence over timeframe, and that this approach provides the best foundation for building a stronger and more valuable company. On behalf of the Board, I thank our shareholders for their continued support and patience. I also thank our management team, consultants and other stakeholders for their contribution during the year. We look forward to working with all of our stakeholders throughout the coming year as we continue to advance APC's existing projects, pursue new opportunities and, ultimately, strive to create meaningful and sustainable value for our shareholders. Cathy Moises Non-Executive Chair 4 | P a g e Annual Report 30 June 2026 Review of Operational Activities Laverton Downs Gold Project (LDP) The Laverton Downs Gold Project, situated immediately north of Laverton WA, straddles the highly mineralised Lancefield and Rosemont-Barnicoat trends. The Lancefield structure hosts multiple gold deposits, including the large, high-grade Lancefield deposits (1.5Moz), situated to the south of the LDP. 5 | P a g e Annual Report 30 June 2026 Figure 1: The Laverton Downs Gold Project proximate to other workers and operators, Laverton WA Figure 2: April 2025 RC drill collar locations over detailed interpreted and structural geology (CSA Global Report No. R203.2019) 6 | P a g e Annual Report 30 June 2026 Technical Discussion A Reverse Circulation (RC) drill program was undertaken during 2025 and targetted the Lancefield Gold Trend within the Laverton Downs Project. In total, 22 holes for 2,628 metres were completed. The program successfully intersected shear hosted zones of gold mineralisation including some reasonable gold grades, with gold hosted in basalts with minor sulfides and quartz. The drilling has also successfully validated a gold target location situated within the Lancefield Trend position from the 2019 CSA Global gold targeting report (figure 3). In the report it is purported to be a lower ranked gold bearing target however this location is an ideal structural trap with complex control and opportunities for gold to precipitate. There is also historical drilling including RAB and Aircore drilling which has identified some shallow, high-grade, oxide gold intersections within a suitable and structurally complex intersection and near interpreted link structures with cross-cutting faults and shearing (refer figure 3). Drill holes LD25RC001 to 003 explored one of these locations and confirmed the presence of gold mineralisation within these interpreted fault structures. The southern area drilled, sections 1 to 3, successfully returned a stronger presence of gold bearing mineralisation identified over 500m of strike (refer figures 4 to 6). Holes for sections 1 to 3 were designed to traverse from ultramafic footwall lithologies eastward across the mafic stratigraphy which hosts potential Lancefield-style lode structures. The geology and assays returned from this drill program has confirmed both the location of the hanging wall ultramafic, which also in places contains weak gold mineralisation however better gold intersections were hosted in the basalt which is sheared in places and chips display strong foliation and platy nature. Weak fine grained pyrite is present and associated with the gold and minor quartz (refer section 1, figure 4). The 2025 RC drilling has allowed a fresh geological interpretation to be constructed for the area drilled indicating several narrow, up to a metre or wider zones with more than 5 metre zones of shearing in mafic basalts overlying an ultramafic komatiite which along its hanging wall position can host weakly mineralised zones of gold associated with sulfides. The stratigraphy is interpreted to be relatively flat lying at circa 30 degrees to the east and comprises either felsic and or overlying sediments, which is atypically the geological setting at Lancefield: “…is that of a basal komatiite overlain by tholeiitic basalt and gabbro units with carbonaceous shale interflow sediments. The ultramafic/mafic package is overlain by a sedimentary pile, commencing with a basal conglomeratic unit that is overlain by pelitic and arenaceous sediments.” (ASX Focus Mineral Resource Update for the Lancefield Project 23 July 2018). Drill Section 4 (figure 7) also confirmed the presence of gold bearing mineralisation which is almost over 1,100 metres north of section 1 which returned the best gold results thus far. This significant untested zone of strike potential remains a high priority for the next phase of exploration. The purpose of the northern sections are to target adjacent previous gold intersections and extend northward into areas where the Lancefield position of the mineralised structure is poorly defined by existing data. 7 | P a g e Annual Report 30 June 2026 Figure 3: April 2025 RC drilling program collar locations over detailed interpreted and structural geology (CSA Global Report No. R203.2019) 8 | P a g e Annual Report 30 June 2026 Figure 4: Section 1 Figure 5: Section 2 9 | P a g e Annual Report 30 June 2026 Figure 6: Section 3 Figure 7: Section 4 10 | P a g e Annual Report 30 June 2026 Nexus Rare Earth Project (Nexus) The Company’s Nexus Project in the West Arunta covers 179km2 of tenure prospective for rare earths and IOC mineralisation. Attention has been focused on the West Arunta region since 2022 through the discovery of a high-grade carbonatite hosted niobium deposit by explorer WA1 Resources Limited (ASX: WA1). This discovery has been followed by further carbonatite hosted niobium rich discoveries by other workers in the area including Encounter Resources Limited (ASX: ENR) demonstrating that the region can be considered highly prospective for rare and other critical mineral elements. The area of focus for existing successful explorers is approximately 80km to the north of APC’s tenure with many active explorers working ground between the Nexus Project and the world-class Luni niobium discovery (see Figure 1 below). Figure 1: APC’s Nexus Project location in the West Arunta region of Western Australia showing relative positions of niobium discoverer WA1’s Luni deposit, and locations of other workers’ deposits and prospects Nexus Exploration Strategy Successful exploration for Niobium rich carbonatite intrusions across the West Arunta has been led by modelling of gravity and magnetic survey anomalism, with carbonatites characteristically comprising dense rocks and minerals that generate gravity and magnetic ‘highs’. 11 | P a g e Annual Report 30 June 2026 Figure 2: Nexus Project tenements over broadly spaced gravity data suggests gravity anomaly highs coinciding with outcropping to sub-cropping prospective Paleoproterozoic bedrock over a 25 kilometre strike length Figure 3: Nexus Project tenements relative to WA1 Resources Ltd’s Luni deposit, Encounter Resources Ltd’s Aileron, Crean and Emily deposits and Rincon Resources Ltd’s Pokali and Avalon targets over regional scale 2.5km x 2.5km gravity data 12 | P a g e Annual Report 30 June 2026 Processing and interpretation of open-file magnetic, radiometric and elevation data suggest Neoproterozoic host rocks favourable for mineralisation in the northern portion of the Project over a 25 kilometres strike length. Broad spaced gravity data indicates anomaly highs coinciding with prospective Proterozoic bedrock: gravity anomalies are typical of WA1’s Luni and Encounter Resources’ Emily and Crean deposits. Competent Person’s Statement The information in this report that relates to Mineral Resources, exploration targets, geological interpretations and mineral grades is based on information that was compiled by Mr John Vinar. Mr Vinar is the Principal Geologist and a Director of Barking Outback, a firm that provides consulting services to the Company. Neither Mr Vinar nor Barking Outback own either directly or indirectly any securities in the issued capital of the Company. Mr Vinar is a geologist and a member of the Australian Institute of Mining and Metallurgy. Mr Vinar has over 35 years of technical experience and therefore has sufficient experience which is relevant to the style of mineralisation and type of deposit and to the activity which he is undertaking 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. Mr Vinar consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. Forward Looking Statements Disclaimer This Report contains forward-looking statements that involve a number of risks and uncertainties. These forward- looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments. 13 | P a g e Annual Report 30 June 2026 Review of Corporate Activities Board of Directors and Key Management Personnel There have been no changes to the Board or Key Management Personnel during the year, apart from the following: Managing Director and Chief Executive Officer Matthew Shackleton resigned on 20 February 2026. Mr Vikram Kumar was appointed as a Non-executive Director on 20 February 2026. Community Engagement Laverton Training Centre The Laverton Training Centre (LTC) was wound down in December 2025 with its assets sold to Wangkatja Tjungul Aboriginal Corporation such that it could continue to provide training programs for Aboriginal people of the region. The LTC was established in 2022 as an initiative of APC that was established for the purposes of providing access to nationally accredited vocational training for long-term unemployed Aboriginal people living in this remote part of Western Australia. The LTC was modelled on the highly successful Martu-ku Yiwarra Training Centre in Wiluna, a unique four-year pilot remote Aboriginal vocational training program, with delivery by Central Regional TAFE Kalgoorlie as the registered training organisation. The LTC was well supported by business in the local region but ultimately this support was irregular, and ultimately APC was not in a position to provide ongoing funding to cover the gaps in funding that arose, resulting in APC making the difficult decision to withdraw its financial support. APC remains very proud of its work to establish and support the LTC. Between 2022 and 2025, 300 remote students completed 1,200 training units, from heavy machinery operation to feral species control. Training was directly aligned with local employment opportunities, yielding a remarkable 85 per cent positive outcome rate. Corporate Governance The Board of Directors of APC is responsible for corporate governance of the Company and the Company is committed to implementing a governance framework of the highest standard. The 2026 Corporate Governance Statement is available on the Company’s website at https://apcminerals.com.au/governance. 14 | P a g e Financial Report 30 June 2026 Directors’ Report Your directors submit their report on the consolidated entity (referred to hereafter as the Group) consisting of APC Minerals Limited and the entities it controlled at the end of, or during, the year ended 30 June 2026. Directors The names and details of the Company's directors in office during the year and until the date of this report are outlined below. Directors were in office for this entire period unless otherwise stated. Cathy Moises (Non-Executive Chair from 1 February 2024) Appointed as a Director on 29 July 2020 Ms Moises assumed the role as Chair of the Company on the resignation of Dr Streltsova in February 2024. Ms Moises holds a Bachelor of Science with Honours in Geology from the University of Melbourne and a Diploma of Finance and Investment from the Securities Institute of Australia. She has extensive experience in the resources sector having worked as a senior resources analyst for several major stockbroking firms including McIntosh (now Merrill Lynch), County Securities (now Citigroup) and Evans and Partners where she was a partner of that firm. More recently in 2017-2019, Ms Moises was Head of Research at Patersons Securities Ltd. Ms Moises brings substantial experience to APC in company management, capital markets and institutional investor engagement in the gold, base metals, mineral sands and rare earths sectors. Other current and former ASX-listed directorships (last 3 years): Name of Company Position Held Date commenced Date resigned Arafura Resources Ltd Non-Executive Director 1 December 2019 n/a Podium Minerals Ltd Non-Executive Director 11 January 2021 n/a PacGold Ltd Non-Executive Chair 11 February 2021 18 November 2024 WA Kaolin Ltd Non-Executive Chair 22 May 2020 1 December 2023 Saturn Metals Ltd Non-Executive Director 9 October 2025 28 November 2025 Jonathan Fisher (Non-Executive Director) Appointed as a Director on 1 February 2024 Mr Fisher is an experienced resources industry executive and the current Chief Executive Officer of Cauldron Energy Limited (ASX: CXU). He holds degrees in Commerce, Law and Finance and has held senior positions with TNG Ltd (Chief Financial Officer), Atlas Iron Limited (General Manager Corporate Finance), Price Waterhouse Coopers, Rothschild (London) and Poynton and Partners. Mr Fisher is a graduate of the Australian Institute of Company Directors (GAICD) and fellow of the Chartered Institute for Securities & Investment. Other current and former ASX-listed directorships (last 3 years): Name of Company Position Held Date commenced Date resigned Miramar Resources Limited Non-Executive Chair 8 December 2025 n/a Vikram Kumar (Non-Executive Director) Appointed as a Director on 20 February 2026 Mr Kumar is an experienced management consultant and corporate lawyer with a strong focus on value creation, M&A, corporate strategy, and governance. He is a Founder & Director of Spinnaker Capital, a funds management business in Perth, Australia. Previously, he worked as a management consultant at Bain & Company in Sydney, where he advised clients across Australia in diverse industries on corporate strategy, process optimization and cost reduction. He also served as a corporate lawyer at leading law firms in Perth, Sydney and Tokyo, specializing in private equity, energy & resources and advising Japanese firms on cross-border transactions and holds a Bachelor of Laws and a Bachelor of Commerce from the University of Western Australia. Other current and former ASX-listed directorships (last 3 years): Name of Company Position Held Date commenced Date resigned Mamba Exploration Limited Non-Executive Director 1 February 2021 31 March 2023 15 | P a g e Financial Report 30 June 2026 Matt Shackleton (Managing Director & Chief Executive Officer) Appointed as a Director on 23 July 2014; resigned on 20 February 2026 Mr Shackleton is an experienced director with over 25 years in senior corporate positions both in Australia and the UK including Managing Director of ASX-listed Western Australian gold developer Mount Magnet South NL, founding director of ASX-listed and West African gold and bauxite explorer Canyon Resources Ltd. He has also held senior roles with Bannerman Resources Ltd, a uranium developer, Skywest Airlines Ltd, iiNet Ltd and DRCM Global Investors in London. Mr Shackleton holds a BCom (Economics & Accounting) from Murdoch University in Western Australia, an MBA from The University of Western Australia, and is a Fellow of the Institute of Chartered Accountants, Australia & New Zealand, and a Member of the Australian Institute of Company Directors. Company Secretary Michael Fry Appointed 30 April 2024 Mr Fry holds a Bachelor of Commerce degree from the University of Western Australia and has worked in the capacity of chief financial officer and company secretary of ASX listed companies for over 25 years. Interests in the shares and options/performance rights of the Company and related bodies corporate as at the date of this report Ordinary Shares Options over Ordinary Shares Performance Rights over Ordinary Shares Cathy Moises 125,000 62,500 450,023 Jonathan Fisher 125,000 62,500 450,023 Vikram Kumar - - - Directors' Meetings During the year the Company held 7 meetings of directors. The attendance of directors at meetings of the Board and committees were: Board Meetings Directors A B Cathy Moises 6 6 Jonathan Fisher 6 6 Vikram Kumar 5 5 Matt Shackleton 2 2 Notes A – Number of meetings held during the time the director held office during the year B – Number of meetings attended Principal Activities During the year the Group focused on divesting itself on the exploration for minerals in the north-Eastern Goldfields and West Arunta regions of Western Australia. Dividends No dividends were paid or declared during the year. No recommendation for payment of dividends has been made. Operating Results for the Year The loss of the Group from continuing operations after providing for income tax amounted to $1,053,881 (30 June 2025: 2,330,136 loss). 16 | P a g e Financial Report 30 June 2026 Audited Remuneration Report The information provided in this remuneration report has been audited as required by section 308(3C) of the Corporations Act 2001 (Cth). The Report details the remuneration arrangements for the Group’s key management personnel (KMP): • Non-executive directors (NEDs); and • Executive directors and senior executives (collectively the executives). KMP are those persons who, directly or indirectly, have authority and responsibility for planning, directing and controlling the major activities of the Group. The KMP identified in the following table were employed during the financial year and dates of appointment and resignation as applicable only pertain to the financial year: Name of KMP Position Held Cathy Moises Non-Executive Chair Jonathan Fisher Non-Executive Director Vikram Kumar Non-Executive Chair (appointed 20 February 2026) Matt Shackleton Managing Director & Chief Executive Officer (resigned 20 February 2026) Principles of Compensation Remuneration Policy The Board of Directors is responsible for determining and reviewing remuneration arrangements for the directors and executives. The Board assesses the appropriateness of the nature and amount of remuneration of directors and executives on a periodic basis by reference to relevant employment market conditions with the overall objective of ensuring maximum stakeholder benefit from the retention of a quality, high performing director and executive team. Non-executive directors The Company’s policy is to remunerate NEDs at market rates for comparable companies for time, commitment and responsibilities. The maximum aggregate amount of fees that can be paid to NEDs is subject to approval by shareholders at the annual general meeting (currently $500,000). Fees for NEDs are not linked to the performance of the Group 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 Company’s Employee Incentive Securities Plan. During the reporting period, the base fee for the Chair was $55,000 per annum and for other directors was $45,000 per annum. Non-executive directors are not provided with retirement benefits apart from statutory superannuation. Executives APC’s remuneration policy has been designed to align KMP 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 Group’s financial and operating results. The Board of Directors believes the remuneration policy to be appropriate and effective in its ability to attract and retain the KMP to run and manage the Group. The Board’s policy for determining the nature and amount of remuneration for directors and senior executives of the Group is as follows: All executives receive a base salary or fee (which is based on factors such as length of service, performance and experience) and the equivalent statutory superannuation. The Board reviews executive packages annually by reference to the Group’s performance, executive performance and comparable information from industry sectors and other listed companies in similar industries. 17 | P a g e Financial Report 30 June 2026 Audited Remuneration Report (cont.) The Board may exercise discretion in relation to approving incentives, bonuses and awards of equity. The policy is designed to attract and retain 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 employee share, option and performance right arrangements. The executives receive a superannuation guarantee contribution required by the government, which was 12% for the 2026 financial year. Some individuals may choose to sacrifice part of their salary or fees to increase payments towards superannuation. All remuneration paid to KMP is valued at the cost to the Company and expensed. Shares issued are valued as the difference between the market price of those shares and the amount paid by the KMP. Options are valued using the Black-Scholes methodology. Performance rights are valued using the share price on grant date. Consequences of performance on shareholder wealth In establishing performance measures and benchmarks to ensure incentive plans are appropriately structured to align corporate behaviour with the long-term creation of shareholder wealth, the Board has regard for the stage of development of the Group’s business, share price, operational and business development achievements (including results of exploration activities) that are of future benefit to the Group. In considering the Group’s performance and benefits for shareholder wealth, the Board have regarded the following indices in respect to the current and previous four financial years: 2026 2025 2024 2023 2022 Profit/(loss) per share (cents) (0.21) (1.66) 1.23 (177.6) (40.04) Net profit/(loss) ($) (1,161,606) (2,438,690) 477,453 (41,606,037) (7,526,424) Share price at 30 June (cents) 0.9 0.9 0.001 0.36 0.18 Performance Based Remuneration Short Term Incentive (STI) No executives were granted STIs during the year (2025: none). Long Term Incentive (LTI) The LTI awards are aimed specifically at creating long term shareholder value and the retention of executives. Incentive Plans The Group implemented the Company’s Incentive Performance Rights Plan during the 2020 financial year which enables the provision of performance rights to employees and contractors of the Company. The Employee Incentive Securities Plan was implemented in November 2022. During the 2026 financial year, no performance rights were allocated to KMP. The grant of performance rights aims to reward KMP in a manner that aligns remuneration with the creation of shareholder wealth. Performance Measures to Determine Vesting of Performance Rights The vesting of performance rights is subject to the attainment of defined individual and group performance criteria, chosen to align the interests of employees with shareholders, representing key drivers for delivering long term value. The performance measures for the performance rights on issue relate to various market performance criteria and project related