Interim Financial Report (Incorporating Appendix 4D)

• Strong operational performance with 432.8kt of spodumene concentrate produced
• Revenue increased 47% to $624.2M compared to prior period
• Unit operating costs (FOB) decreased 8% to $563/t

During the half-year, PLS delivered a strong operational performance at the Pilgangoora operation, reflecting continued optimisation of the P850 operating model and ongoing operational efficiencies. Key outcomes include production of 432.8kt of spodumene concentrate, sales of 446.0kt, and a 47% increase in revenue to $624.2M compared to the prior corresponding period. Unit operating costs (FOB) decreased by 8% to $563/t, reflecting improved cost efficiency. The company's cash balance remained strong at $954.4M. PLS reported a net profit after tax of $32.8M for H1 FY26, compared to a net loss of $69.4M in H1 FY25, reflecting improved underlying EBITDA and revenue performance. The P2000 project feasibility study, Colina project in Brazil, and downstream joint venture with P-PLS all progressed during the period. PLS also entered into a new spodumene concentrate offtake agreement and agreed to acquire Calix's ownership interest in the Mid-Stream Demonstration Plant joint venture.