• Progressed negotiations with Reliance Industry Limited for IP licensing and sale of demonstration plant
• Continued work on Stage 1 of the NeuRizer Urea Project, including environmental impact assessment and site maintenance
• Provided updates on overdue financial reporting, which have now been lodged

NeuRizer Ltd has submitted its Quarterly Activities Report and Quarterly Cash Flow Statement for the quarter ending 31 December 2025. The company has progressed negotiations with Reliance Industry Limited, part of The Reliance Group, and has signed a non-binding term sheet with the intention of progressing to Letters of Award (LOA) for the contracting of the purchase of the Demonstration Plant at Leigh Creek and the granting of a License for Reliance to use NRZ IPI in India. The parties believe that contracts will be exchanged in the 1st Quarter of 2026. NeuRizer also announced that two LOAs had been awarded for IP licensing and the sale of the Demonstration Plant, with binding contracts expected to be signed in the first quarter of 2026. The company's shares continue to be suspended from trading under the Australian Securities Exchange (ASX) Listing Rule 17.5, and NeuRizer is working with its Auditor and the ASX to resolve the issues giving rise to the suspension. The company has also provided updates on its overdue financial reporting, which have now been lodged. Regarding the NeuRizer Urea Project (NRUP) Stage 1, the company has continued to progress the Stage 1 Environmental Impact Statement (EIS), with water monitoring activities and the engagement of a consultant to advance the EIS. This brings the NRUP closer to project start-up and represents progress towards final project approval and first urea production (i.e., Stage 2). The company has also provided details on various other activities related to the NRUP, including site maintenance, compliance reporting, and research and development.