2025 Financial Report and Appendix 4E

• Statutory net loss of $896M, including $632M in non-cash impairment charges
• Underlying EBITDA of $901M, down 15% on prior year
• Strong recovery in 2H25 with $84M underlying NPAT
• Liquidity of over $1.1B, with no debt maturities before mid-2027

Mineral Resources Ltd reported a statutory net loss of $896M for the 2025 financial year, down $1,010M from the prior year. This included $632M in non-cash post-tax impairment charges, including $192M on assets associated with Resource Development Group Limited, $337M for the Bald Hill lithium project, and $41M on other lithium tenements. The company also recorded a $56M post-tax net gain on the gas transaction with Hancock Prospecting and a $51M post-tax gain on the sale of the Yilgarn Hub. Underlying EBITDA was $901M, down 15% from the prior year, with record Mining Services earnings offset by a reduction in commodity prices. The company delivered a strong recovery in the second half, with Underlying NPAT of $84M. MinRes maintained a robust balance sheet, with over $1.1B in liquidity as of 30 June 2025, consisting of $412M in cash and $705M in undrawn lines. The company's capital structure is predominantly long-term senior unsecured bonds, with no maturities prior to mid-2027.