LRT Annual Report including Appendix 4E

• Net assets attributable to unitholders increased by 37.55% to $99,500,000
• Revenues from continuing operations rose 54.73% to $38,664,000
• Profit for the year surged 48.74% to $32,982,000
• Earnings per unit increased to $0.794
• Distribution to unitholders was $0.1432 per unit

The Lowell Resources Fund (LRT) had a successful year with significant growth in net assets, revenues, and profit. Net assets attributable to unitholders increased by 37.55% to $99,500,000, while revenues from continuing operations rose by 54.73% to $38,664,000. The profit for the year surged by 48.74% to $32,982,000. Earnings per unit increased from $0.570 to $0.794. The fund distributed $0.1432 per unit to unitholders. The fund's largest commodity exposure was gold at 42%, followed by copper at 20%. The fund's largest holding was Brazilian Critical Minerals, which saw a 5-fold increase in its share price over the year.

Net assets attributable to unitholders: $99,500,000; Revenues from continuing operations: $38,664,000; Profit for the year: $32,982,000

The fund expects continued growth in the junior resources sector, driven by strong demand for metals and positive sector performance.