Announcement PDF Critica Limited | 1 Contents Corporate Directory 2 Letter from Chairman 3 Review of Operations 5 Directors’ Report 14 Auditor’s Independence Declaration 31 Financial Statements 33 Consolidated Entity Disclosure Statement 66 Directors’ Declaration 67 Independent Auditor’s Report 68 Additional Shareholder Information 72 Schedule of Mineral Tenements 74 Critica Limited | 2 Corporate Directory Non-Executive Chairman Timothy Lindley Non-Executive Director Nicholas Cernotta Executive Director Jamie Byrde Chief Executive Officer Jacob Deysel Company Secretary Susan Park Principal & Registered Office Level 2, 16 Altona Street West Perth WA 6005 Telephone: (08) 6279 9428 Facsimile: (08) 6500 9986 Stock Exchange Listing Australian Securities Exchange (Home Exchange: Perth, Western Australia) ASX Code: CRI Lawyers Thomson Geer Lawyers Level 29, Central Park Tower, 152-158 St Georges Terrace PERTH WA 6000 Website Address critica.limited Share Registry Automic Group Level 5, 191 St Georges Terrace Perth WA 6000 Auditors Stantons International Audit and Consulting Pty Ltd Level 2 40 Kings Park Road WEST PERTH WA 6005 Bankers National Australia Bank 50 St Georges Terrace PERTH WA 6000 Critica Limited | 3 Letter from the Chairman Dear fellow shareholders, On behalf of the Board of Directors of Critica Limited, I am pleased to present our Annual Report for the financial year ended 30 June 2026. This has been a year of exceptional technical progress and disciplined execution, in which Critica has moved decisively from resource definition toward development, laying the foundation for what your Board believes will be a fundamental re-rating of the Company. We are operating in a world that is rapidly relearning the cost of dependency. Decades of “just in time” critical minerals supply chains, built on the assumption of open trade and low-cost processing concentrated in China, are giving way to a “just in case” world in which access to; rare earths, gallium, scandium, yttrium, tin and tungsten is increasingly treated as a matter of national and economic security rather than commercial convenience. Export licensing regimes have tightened, Western governments are actively stockpiling, and defence, technology and manufacturing supply chains are being urgently redesigned around non-China sources. Critica is one of a small number of companies globally positioned to respond to this shift with genuine scale and commodity diversity. Through our two wholly owned projects in Western Australia and Tasmania, Critica offers exposure to a broad basket of the critical minerals now at the centre of this realignment inside one company: light and heavy rare earths, magnet rare earths, gallium, scandium, yttrium, tin and tungsten. At the heart of this positioning is Jupiter, Australia’s largest clay-hosted rare earth resource, with an Inferred Resource of 1.8 billion tonnes. Jupiter sits within our 100%-owned Brothers Project, a landholding of some 1,356 km² in Western Australia’s Mid-West. Jupiter is only one of six clay-hosted rare earth discoveries identified to date within Brothers. During the year, drilling and metallurgical test work at our Juno and Aurora satellite deposits confirmed geology and mineralogy consistent with Jupiter. It remains our ambition, that Critica’s “Brothers District will one day be to rare earths what the Pilbara has been to iron ore!” a single province capable of supplying a globally significant share of the world’s critical minerals needs for decades to come. Above all, the past year has been a year of de-risking. Since I wrote to you last year, Jupiter’s beneficiation potential has been proven, repeated and independently verified into commercial-quality downstream products, a 97% Mixed Rare Earth Oxide and a 58% Mixed Rare Earth Carbonate, with three independent laboratories; ANSTO, GAVAQ and AMML. These results cannot be underestimated as Critica has now demonstrated it can produce both a MRE Carbonate and MRE Oxide at Global commercial grades, something unique compared to many of our global peers. Weaponisation of global trade by China, with Tungsten export bans and controls, coupled with significant increases in Tin prices due to significant demand increases and supply problems in Myanmar and Indonesia has allowed us to take a completely fresh approach to developing our other flagship project Mt Lindsay. We have applied the same rigour to our Mt Lindsay project, one of Australia’s largest undeveloped tin and tungsten resources in north-west Tasmania. Rather than simply updating a decade-old open-pit study, your Board took the view that Mt Lindsay deserved to be reassessed from first principles for today’s stronger tin and tungsten markets, today’s mining methods and today’s environmental expectations. The Mt Lindsay Scoping Study is now imminent with DRA Global developing an underground development design. We believe this approach has the potential to make Mt Lindsay one of the most environmentally conscious tin- tungsten developments anywhere in the world, at a time when both tungsten and tin prices have strengthened materially over the course of the year. Given the historical mining licences, Mt Lindsay also has the potential to be one of the world’s fastest to production Tungsten mines in the world a time of acute and urgent demand. Critica has made extraordinary progress in developing two Scoping Studies in parallel, both due by Q3 2026 and we believe these studies represent the point at which Critica’s story de-risks from resource potential and metallurgical promise to detailed asset-level economics, allowing the market for the first time to truly value the Company. Critica Limited | 4 This has been made possible due to our CEO, Jacob Deysel, who has driven the Company’s transition from explorer to developer with real urgency and discipline leveraging his experience, and I thank him for the speed and rigour with which he has directed our team and partners. On behalf of the Board, I extend my sincere gratitude to the whole of the Critica team, whose relentless dedication and technical excellence has moved your Company to the cusp of two historic Scoping Studies within little more than two years of Jupiter’s discovery. Critica is now development ready. On the back of our two forthcoming landmark Scoping Studies, we intend to move quickly to advance existing offtake discussions and to deepen engagement with international governments and companies that are actively seeking to secure diversified, Western aligned sources of rare earths, gallium, yttrium, scandium, tin and tungsten. Financially, Critica ended the year in a considerably stronger position than it began it, following the completion of an $8 million capital raising during the period, with cash and cash equivalents of $5.3 million as at 30 June 2026. This funding has directly supported the pace of drilling, metallurgical test work and study work set out in this report, and the Board continues to manage the Company’s balance sheet with the discipline our shareholders expect as we advance toward the completion of two Scoping Studies. In closing, I would like to thank you, our shareholders, for your continued support as Critica has advanced from explorer to developer. The pace and scale of what your Company has achieved this year, across two projects, a basket of critical minerals, and multiple independent laboratories and study partners, reflects a team executing at a rate few of our peers can match. We are excited about the year ahead, and confident that the completion of our two Scoping Studies will allow the market to see, in clear economic terms, the value we believe already exists within Critica. Yours faithfully, Timothy Lindley FAICD FGIA Chairman Critica Limited Critica Limited | 5 Review of Operations Critica’s Dual-Project Critical Minerals Platform Critica is advancing a diversified critical minerals platform through two strategically positioned Australian assets. The Jupiter Rare Earth Project in Western Australia — the Company’s flagship and Australia’s largest clay-hosted rare earth resource — provides exposure to magnet rare earths, yttrium and gallium, while the Mt Lindsay Tin-Tungsten Project in Tasmania, one of the world’s largest undeveloped tin-tungsten projects, adds exposure to tin and tungsten. Together the two projects span several critical minerals — rare earths, yttrium, gallium, tin and tungsten — each subject to tightening global supply and increasing government support across the U.S., Australia and Europe. During the year, both projects advanced towards Scoping Study completion, each targeted for Q3 2026. Brothers and Jupiter Clay-Hosted Rare Earths Project, Western Australia (100% owned) Introduction Critica’s 100% owned, flagship Brothers Clay-Hosted Rare Earth Project (Brothers) is a large strategic landholding totalling approximately 1,356 km2 of granted tenure, with an additional 435 km2 of licences under application, all situated on pastoral leases in Western Australia. The Jupiter Project (Jupiter) is a high-grade, clay-hosted rare earths deposit located within the broader Brothers landholding. Jupiter is the first of six clay-hosted REE discoveries that the Critica team has made at Brothers. Discovered in late 2023 through geophysical targeting, Critica rapidly deployed cost-effective aircore drilling (AC) to advance Jupiter. The Company successfully completed circa 40,000 metres of drilling within Jupiter in less than 18 months. To date, Jupiter boasts remarkably consistent rare earth mineralisation with broad, flat lying, high-grade zones of 20 to 30 metre widths, under low cover and grades of over 2,000 ppm of Total Rare Earth Oxides (TREO). These high-grade zones typically occur within circa 80 metre zones of mineralisation that grade over 1,000 ppm TREO. The valuable magnet rare earths (MagREO) make up an average of 23 percent of the material which grades over 1,000 ppm TREO (by averaged assay data). An additional stand-out feature is the consistently low presence of in-situ thorium and uranium. Jupiter is strategically located within the Mt Magnet and Yalgoo mining district and enjoys exceptional development potential being located adjacent to significant surrounding infrastructure. It is less than 10 km from the bitumen highway that runs between Mt Magnet and Geraldton, providing easy access to local labour centres, the Port of Geraldton and the mid-west gas pipeline that runs parallel to the highway. Critica Limited | 6 Review of Operations (continued) Figure 1 | Location Map of Jupiter within the Brothers clay-hosted REE Project Critica Limited | 7 Review of Operations (continued) Figure 2 | Jupiter and the Brothers Project Tenure map Jupiter Maiden Resource Estimate In February 2025, Critica achieved a key milestone through the release of a maiden Mineral Resource Estimate (MRE) for Jupiter. The MRE contained an Inferred Resource of 1.8 Bt @ 1,700 ppm TREO at a 1,000ppm cut-off, including a higher-grade component of 500 Mt @ 2,200 ppm TREO at a 1,800ppm cut-off. This high-grade component is comparable with leading global clay-hosted REE deposits. The MRE was prepared by leading international resource consultancy, SRK Consulting, and significantly exceeded Critica’s expectations in terms of both tonnes and grade. The MRE also highlights excellent MagREO content averaging approximately 23% of TREO along with a consistently low in-situ uranium and thorium content. The MRE was delineated with an average drill hole depth of just 58 metres, with more than 50% of drill holes ending in mineralisation. Average thickness of mineralisation across the deposit is 31 metres. Mineralisation begins from as little as two metres from surface, with an average depth across the deposit of 26 metres. The Jupiter MRE establishes the project as Australia’s largest and highest-grade clay hosted rare earth resource with a globally significant REE content potentially strategic to Australia’s future supply chain. Notably, the MRE was delivered in just over a year following initial discovery at Jupiter in November 2023. Critica Limited | 8 Review of Operations (continued) Table 1 | Jupiter Inferred Grade-Tonnage Summaries JORC Inferred Resource Cut-off Tonnage TREO2 Mag REO/MREO1 TREO (ppm) (Bt) (ppm) (ppm) 200 3.28 1,156 266 300 3.04 1,230 283 400 2.91 1,267 292 500 2.69 1,335 308 600 2.44 1,417 328 700 2.22 1,492 346 800 2.06 1,550 359 900 1.91 1,603 372 Global Resource 1,000 1.78 1,651 383 1,100 1.70 1,679 389 1,200 1.60 1,711 397 1,400 1.24 1,828 423 1,600 0.84 1,987 459 High-Grade Resource 1,800 0.52 2,169 499 2,000 0.30 2,372 542 2,200 0.17 2,578 587 ¹ MREO (or MagREO) represents thesum of neodymium, praseodymium, dysprosium andterbium, expressed as oxides.MREO represents approximately 23% of TREO. 2 TREO – Total Rare Earth Oxides Resource drilling at Jupiter delivers excellent high-grade continuity of rare earth mineralisation During the financial year, resource optimisation remained a key focus of the Jupiter Scoping Study. Since publication of the maiden MRE, Critica completed 145 infill drill holes for 7,265 metres at Jupiter, together with a further 29 holes for 1,204 metres at Juno and additional drilling across regional targets including Aurora. The infill programme was completed on a nominal 125 metre by 125 metre spacing across the optimised resource footprint and targeted higher-grade zones within the existing resource, supporting evaluation of selective mining and higher-grade feed strategies as part of ongoing Scoping Study development. Data validation, geological interpretation and resource optimisation work were substantially completed during the year and finalised for handover to SRK Consulting for resource estimation. SRK is preparing an updated Jupiter MRE, to be released following completion of its work, which is intended to support mine planning and Scoping Study inputs, including potential conversion of parts of the existing Inferred Resource to Indicated Resource classification. Critica Limited | 9 Review of Operations (continued) Figure 3 | Significant drilling intersections, coloured by TREO grade-thickness and shown on gravity Critica Limited | 10 Review of Operations (continued) Regional exploration continues to highlight the district-scale potential of the Brothers Project Regional exploration during the year advanced across the district-scale Brothers Project, where Critica commenced aircore drilling at the Juno and Aurora prospects under the Western Australian Government’s Exploration Incentive Scheme (EIS). The EIS co-funded programme reimburses up to 50% of eligible drilling and mobilisation costs, reducing capital intensity while testing the broader growth potential of the Brothers system. Juno, located south of the Jupiter deposit, is characterised by an elevated proportion of magnet rare earth oxides, while Aurora, to the northwest, is testing mineralisation analogous to Jupiter. Drilling at Juno and Aurora continues to highlight the potential for additional resource growth beyond the current Jupiter footprint, with initial EIS co-funded results anticipated in the period ahead. Consistent with the Jupiter resource, the Brothers prospects continue to exhibit low in-situ uranium and thorium. Metallurgical development delivers commercial-grade rare earth products and a low-cost beneficiation pathway Metallurgical development at Jupiter delivered exceptional outcomes during the year through the Company’s beneficiation-first flowsheet. Pilot plant optimisation upgraded feed material approximately 14×, from a representative feed grade of approximately 2,137 ppm TREO to an intermediate concentrate grading approximately 3% TREO – at approximately 90–95% mass rejection. Strong recoveries were maintained, including approximately 81% Magnet REO recovery and approximately 71% TREO recovery. Individual recoveries for key magnet rare earth oxides varied by element, include Nd₂O₃ 74.5%, Dy₂O₃ 74.7%, Pr₆O₁₁ 69.3% and Tb₄O₇ 65.9%. The Company demonstrated multiple downstream product routes from the beneficiated concentrate. ANSTO produced a commercial-grade Mixed Rare Earth Carbonate (MREC), while Australian Minmet Metallurgical Laboratories (AMML) independently produced a series of Mixed Rare Earth Oxide (MREO) products via a conventional sulphuric acid bake flowsheet, culminating in a high-purity MREO grading up to approximately 97% TREO. Hydrometallurgical testwork achieved recoveries of up to approximately 71% TREO and up to approximately 76% Magnet REO, demonstrating the effectiveness of the beneficiation-first flowsheet . Ongoing metallurgical programmes also highlighted co-product potential. Previous testwork demonstrated approximately 63% gallium extraction into solution using the same hydrometallurgical flowsheet developed for rare earth recovery, and Jupiter hosts approximately 70,000 tonnes of contained gallium, positioning gallium as a potentially significant additional value stream. In parallel, beneficiation programmes continued to produce an iron-rich concentrate stream that is under assessment as a potential by-product. With both MREC and MREO pathways demonstrated, Critica commenced preparation of representative product samples for qualification and early-stage offtake engagement. Metallurgical programmes advanced with ANSTO, Minutech–AMML and Phenikaa University and fed directly into the Jupiter Scoping Study, led by Sedgman with Snowden Optiro (mining inputs) and SRK Consulting (resource updates), which remained on track for completion during Q3 2026. During the year the Company also secured $300,000 in non-dilutive research funding from the Minerals Research Institute of Western Australia (MRIWA) and the Curtin-led RTCM Trailblazer programme, joined the U.S. Defense Industrial Base Consortium (DIBC), and maintained its partnership in the Critical Metals for Critical Industries Cooperative Research Centre (CMCI CRC). Critica Limited | 11 Review of Operations (continued) Metallurgical testwork (continued) To date, Critica’s metallurgical testwork has demonstrated the potential for significant competitive advantage in the future processing of Jupiter ore, and lower operating and capital costs, reduced environmental impact and faster permitting, in strong alignment with the Company’s ESG focus. Optimisation programmes are continuing with ANSTO and other technical partners, focused on reducing reagent and acid consumption, improving recoveries, enhancing product quality and refining operating conditions, with further updates to be provided as this work progresses. Scoping Study and Development Strategy During the year, Critica continued to advance the Jupiter Scoping Study, led by Sedgman with Snowden Optiro providing mining inputs and SRK Consulting undertaking resource updates. Resource optimisation, mine planning, metallurgical testwork and flowsheet development are feeding into the Scoping Study, which is targeted for completion during Q3 2026. The study is evaluating development pathways for Jupiter, including selective mining and higher-grade feed strategies and the production of mixed rare earth carbonate and mixed rare earth oxide products. Kulin Project, Nickel-Copper-PGE & Gold, Western Australia Activities during the Year In June 2025, Critica entered into a Farm-In Agreement (Agreement) with Ausgold Limited (ASX: AUC) (Ausgold) with respect to its Kulin Gold Project (Kulin Project). The Kulin Project, comprising of exploration licence E70/5077, is located approximately 75km northeast of Ausgold’s 100%-owned Katanning Gold Project. The Agreement allows Critica shareholders to retain exposure to potential upside in the Kulin Project up to a 30% joint venture interest (refer Agreement terms below). Key Agreement Terms Under the Agreement, Ausgold has the right to earn up to a 70% interest in the Kulin Project over three years by expending: • Stage 1: A$250,000 within 18 months to earn 51%; and • Stage 2: A further A$360,000 over the following 24 months to earn an additional 19%. Upon completion of the earn-in, Critica will retain a 30% contributing interest in the Kulin Project, with the right to convert to a 1.5% net smelter royalty (NSR) at a decision to mine. Critica Limited | 12 Review of Operations (continued) Mt Lindsay Tin-Tungsten Project Critica offers exposure to one of the world’s largest undeveloped tin-tungsten projects. Mount Lindsay has a granted mining lease and, following the 14 September 2026 update to JORC 2012, a project-wide Mineral Resource of 19 Mt @ 1.09% SnEQ at a 0.4% SnEQ cut-off, containing approximately 49 kt of tin and 28 kt of WO₃ and comprising Indicated and Inferred Resources (refer to Table 2). The JORC 2012 restatement provides a clear and current view of the scale and quality of the Mt Lindsay Mineral Resource ahead of the upcoming Scoping Study. In 2022 The Australian Government recognized Tungsten as a critical minerals and Mount Lindsay was included in the Critical Minerals Prospectus. Tin is a versatile metal with a wide range of applications due to its corrosion resistance, low toxicity and useful alloys. It is used extensively in electronics, particularly in solder, and has applications in clean energy and battery technologies. Tungsten is a highly durable and dense metal with a wide range of industrial and technological applications, including in the defence and aerospace industries. Table 2: Mount Lindsay Tin-Tungsten Project – Mineral Resource Estimate Deposit Material class Million Tonnes SnEQ % Sn % WO3 % DTR Mass Recovery % Sn tonnes WO3 tonnes Iron Ore tonnes Main & No.2 Indicated 12 1.22 0.24 0.17 13 28,000 20,000 1,500,000 Main & No.2 Inferred 2.3 0.85 0.16 0.12 12 3,800 2,700 280,000 Livingstone Inferred 4.4 0.88 0.29 0.11 na 13,000 4,700 na Reward Indicated 0.34 1.06 0.81 0.05 na 2,700 150 na Reward Inferred 0.23 1.07 0.78 0.05 na 1,800 120 na PROJECT TOTAL (INDICATED + INFERRED) 19 1.09 0.26 0.15 9.3 49,000 28,000 1,800,000 Critica Limited | 13 Review of Operations (continued) Notes: • na not estimated • The formula used to calculate the Sn equivalent values for the Main and No.2 deposits is SnEQ (%) = Sn% + (WO3% x 5.556) + (DTR Mass Recovery x 0.002556), and for Livingstone and Reward SnEQ % = Sn % + (WO3% x 5.556). • The Sn equivalent formulae use a tin metal price of US$45,000/t, an APT (Ammonium Para Tungstate) price of US$2500/mtu (1mtu =10kgs of WO3) and a 65% iron ore price of US$115/t. Copper is not included in the Sn equivalent. • Iron Ore mass recovery was determined by Davis Tube Recovery (DTR) testing (90% of data set) and regression of the magnetic susceptibility according to the formula DTR Mass Recovery % = Magnetic susceptibility 10-3 SI units x 0.0318 + 4.6278 as established from the DTR work. • Pilot-scale test work on approximately 3 tonnes of representative Main and No.2 deposit material produced a 45% Sn concentrate at an overall tin recovery of 72%, a tungsten concentrate exceeding 66% WO₃ at an overall tungsten recovery of 83% to APT, and a 65% Fe Iron Ore at 98% recovery (refer Venture Minerals announcement to ASX dated 31 August 2012). • Further bulk and pilot metallurgical test work is in progress on selected mineralisation types to optimise concentrate grades and recoveries. • In the Company’s opinion, all elements included in the metal equivalent calculation have a reasonable potential to be recovered and sold. • Project Total comprises Indicated and Inferred Mineral Resources. Figures may not sum due to rounding. • Refer to ASX Announcement 14 September 2026 further details regarding metal equivalents. Scoping Study and Development Strategy During the year, Critica appointed DRA Global to undertake a Scoping Study for Mt Lindsay, evaluating a low- impact underground development strategy that incorporates paste backfill to reduce surface tailings and infrastructure positioning to minimise environmental impact. The reassessment reflects significant increases in tin and tungsten prices over the preceding 18 months, driven by globally constrained supply, and follows constructive engagement with Mineral Resources Tasmania, including support at Ministerial level. Underground mine design updated geological modelling and resource optimisation are feeding into the DRA Scoping Study, which is targeted for completion during Q3 2026, alongside progressing partnership and offtake discussions. Competent Person’s Statement The information in this report that relates to exploration results including geology interpretation, data preparation and data quality is based on work compiled by Dr. Stuart Owen who is a Member of the Australian Institute of Geoscientists. Dr. Owen is a permanent employee of Critica Limited and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC code). Dr. Owen consents to the inclusion in the report of the matters based on his information in the form and context in which they appear. The information in this announcement that relates to the Mineral Resource estimates for Jupiter is based on work conducted by Rodney brown of SRK Consulting (Australasia) Pty Ltd. Rodney Brown is a member of the Australasian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation type of deposit under consideration, and to the activity he is undertaking, to qualify as a Competent Person in terms of the JORC code. Mr. Brown consents to the inclusion in the report of the matters based on his information in the form and context in which they appear. The information in this announcement that relates to the Mineral Resource estimates for Mt Lindsay is based on, and fairly represents, information and supporting documentation prepared by Dr. Stuart Owen who is a member of the Australian Institute of Geoscientists. The information includes the mining and metallurgical assumptions used in reporting the Mineral Resource. Dr. Owen has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity he is undertaking, to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code. Dr Owen consents to the inclusion in the report of the matters based on his information in the form and context in which they appear. Notes: All material assumptions and technical parameters underpinning the Minerals Resource estimates referred to within previous ASX announcements continue to apply and have not materially changed since last reported. The company is not aware of any new information or data that materially affects the information included in this announcement. Critica Limited | 14 Directors’ Report for the year ended 30 June 2026 The Directors of Critica Limited submit herewith the consolidated financial statements of the Company and its controlled entities (“Group” or “Consolidated Entity”) for the financial year ended 30 June 2026 in order to comply with the provisions of the Corporations Act 2001. 1. Directors The following persons were Directors of Critica Limited during the whole of the financial year and up to the date of this report, unless otherwise stated: 2. Principal Activities The principal activity of the consolidated entity during the financial year was mineral exploration and development of the Jupiter Rare Earths Project in Western Australia. There were no significant changes in the nature of the consolidated entity’s principal activities during the financial year. 3. Group Financial Overview Profit and Loss The loss attributable to owners of the consolidated entity after providing for income tax amounted to $7,212,175 (2025: $3,750,939). The prior year result included a gain from discontinued operations of $2,950,000 associated with the disposal of Venture Iron Pty Ltd. Loss from continuing operations for the year ended 30 June 2025 was $6,700,939. Financial Position The consolidated entity had $5,327,735 in cash and cash equivalents as at 30 June 2026 (2025: $4,150,029). The consolidated entity had net assets of $6,353,310 (2025: $5,331,350) at 30 June 2026. 4. Dividends Paid or Recommended The Directors do not recommend the payment of a dividend and no amount has been paid or declared by way of a dividend to the date of this report. Mr Timothy Lindley Non-Executive Chairman Mr Nicholas Cernotta Non-Executive Director Mr Jamie Byrde Executive Director Critica Limited | 15 Directors’ Report for the year ended 30 June 2026 (continued) 5. Significant Changes in the State of Affairs The following significant changes in the state of affairs during the financial year: • On 1 July 2025, the Company announced the appointment of Mr Jacob Deysel as Chief Executive Officer, commencing 15 July 2025. • On 16 July 2025, the Company announced further metallurgical results from the Jupiter Rare Earths Project, including outstanding magnet and heavy rare earth oxide grades from beneficiation testwork. • On 1 September 2025, the Company announced plans to produce a high-grade rare earth concentrate at pilot plant scale. • On 28 October 2025, the Company announced that Jupiter had delivered its first high-grade Mixed Rare Earth Product grading 84% TREO, further de-risking Critica’s processing flowsheet. • On 17 November 2025, the Company announced that its Mixed Rare Earth Product flowsheet had achieved 63% gallium leach recovery, demonstrating gallium as a potential valuable by-product. • On 2 December 2025, the Company announced that a second high-grade Mixed Rare Earth Product had achieved 86% TREO, with strong magnet rare earth and yttrium grades. • On 20 January 2026, the Company announced the formal commencement of the Jupiter S