Announcement PDF MONT ROYAL RESOURCES LIMITED AND ITS CONTROLLED ENTITIES ACN: 625 237 658 Annual Financial Report For The Year Ended 30 June 2025 MONT ROYAL RESOURCES LIMITED AND ITS CONTROLLED ENTITIES CORPORATE DIRECTORY BOARD OF DIRECTORS Gary Lawler (Non-Executive Chairman) Peter Ruse (Executive Director) Ronnie Beevor (Non-Executive Director) COMPANY SECRETARY Shaun Menezes REGISTERED OFFICE AND PRINCIPAL BUSINESS OFFICE Level 8, 2 Bligh Street Sydney NSW 2000 Telephone: (+61 2) 8651 7800 SHARE REGISTRY Automic Registry Services Level 5 191 St Georges Terrace Perth WA 6000 Investor Enquiries: 1300 288 664 AUDITOR BDO Audit Pty Ltd Level 9, Mia Yellagonga Tower 2 5 Spring Street, Perth, WA Telephone: (+61 8) 6382 4600 STOCK EXCHANGE ASX Limited (Australian Securities Exchange) ASX Code: MRZ MONT ROYAL RESOURCES LIMITED AND ITS CONTROLLED ENTITIES CONTENTS Page Directors' Report 2 Auditor's Independence Declaration 11 Consolidated Statement of Profit or Loss and Other Comprehensive Income 12 Consolidated Statement of Financial Position 13 Consolidated Statement of Changes in Equity 14 Consolidated Statement of Cash Flows 15 Notes to the Consolidated Financial Statements 16 Consolidated Entity Disclosure Statement 27 Directors' Declaration 28 Independent Auditor’s Report 29 ASX Additional Information 33 Corporate Governance Statement 36 1 MONT ROYAL RESOURCES LIMITED AND ITS CONTROLLED ENTITIES DIRECTORS’ REPORT Your directors present their report on the consolidated group for the year ended 30 June 2025. Directors The names, qualifications and experience of the directors in office at any time during, or since the end of, the year are as follows. Directors have been in office since the start of the year to the date of this report unless otherwise stated. Gary Lawler (Non-Executive Chairman) BA, LLB, LLM(Hons), ASIA, Master of Laws (Applied Laws)(Wills & Estates) Mr Lawler is a career lawyer having practiced for almost 50 years primarily as a corporate/ mergers and acquisitions lawyer. During his years of practice, Mr Lawler was a partner in several large Sydney based law firms. Mr Lawler has served as a director of several mining companies over the years and brings a wealth of legal and business experience to the Board. He is currently Lead Independent Director of Champion Iron Limited. Other current directorships: Champion Iron Limited (ASX/TSX). Former directorships (last 3 years): None. Peter Ruse (Executive Director) BCom, GradCertAppFin Mr Ruse is a finance professional with over 12 years of extensive experience in Equity Funds Management and Private/Institutional Wealth Management specialising in Mining/Minerals and Industrial related sectors. Mr Ruse has extensive private and public equity market experience as a former Executive Director/Portfolio Manager of ALR Investments Pty Limited, a Western Australian family office investment company. Other current directorships: Gunsynd PLC (AIM-LSE), Parabellum Resources Limited. Former directorships (last 3 years): None. Ronnie Beevor (Non-Executive Director) B.A. (Hons)(appointed 25 March 2023) Mr Beevor has over 40 years’ experience in investment banking and mining. He was Head of Investment Banking at Rothschild Australia between 1997 and 2002, and since has been Chair or a Non-Executive Director of a range of mining companies, both in Australia and internationally. Mr Beevor’s extensive career as a company director includes serving on the boards of Riversdale Resources, which proved up the substantial Grassy Mountain metallurgical coal deposit in Alberta, Canada and was taken over by Hancock Prospecting for A$800M in 2019, and Talison Lithium which acquired the Greenbushes lithium mine in WA and was taken over by Tianqi Lithium for C$900M in 2013. Mr Beevor holds an Honours degree in Philosophy, Politics and Economics from Oxford University, and qualified as a chartered accountant in London. Other current directorships: Champion Iron Limited, Felix Gold Limited, Lucapa Diamond Company Limited (in Directors’ Voluntary Administration), Peel Mining Limited. Former directorships (last 3 years): Bannerman Energy Limited. Company Secretary Shaun Menezes BCom, LLB Mr Menezes is an accounting and finance professional with over 20 years experience. He has worked in the capacity of Company Secretary and Chief Financial Officer of a number of ASX and SGX listed companies, held a senior management role within an ASX 200 listed company and was an executive director at a leading international accounting firm. He is a member of the Governance Institute of Australia and the Chartered Accountants Australia and New Zealand. 2 MONT ROYAL RESOURCES LIMITED AND ITS CONTROLLED ENTITIES DIRECTORS’ REPORT Directors Meetings The following table sets out the number of meetings of the Company’s directors held during the year ended 30 June 2025 attended by each director: Number Number Eligible to Attend Attended Gary Lawler 6 6 Peter Ruse 6 6 Ronnie Beevor 6 6 Principal Activities The principal activity of the consolidated group during the year was the exploration on Northern Lights Minerals projects in the Upper Eastmain Greenstone Belt in Quebec, Canada. Review of Operations The consolidated loss of the consolidated group for the year amounted to $1,504,695 (2024: $2,625,450). The 2025 financial year was a pivotal period for Mont Royal Resources (“Mont Royal” or the “Company”), marked by significant progress towards the completion of a transformational merger with Canadian-focused rare earths explorer, Commerce Resources Corp (TSXV: CCE; OTCQX: CMRZF; FSE: D7H0), and continued exploration to unlock the potential of the Company’s Northern Lights project in Canada. Transformational Merger with Commerce Resources On 10 April 2025, Mont Royal announced that it had entered into a definitive arrangement agreement, pursuant to which Mont Royal will acquire 100% of the issued and outstanding shares of Commerce Resources Corp. (“Commerce Shares”) by way of a statutory plan of arrangement under the Business Corporations Act Business Columbia (“BCBCA”). The Transaction will create an ASX and TSX-V listed, Québec-focused, critical minerals developer and exploration company with a strong focus on rare earths, fluorspar, niobium and lithium exploration. Commerce’s 100%-owned Eldor Property in Québec hosts the Ashram Rare Earth and Fluorspar Deposit as well as highly prospective niobium assets. Ashram is the largest monazite-dominant carbonatite-hosted Rare Earth Element (“REE”) deposit in North America, with an Indicated Resource of 73.2Mt at 1.89% rare earth oxide (“REO”) and 6.6% CaF2 (fluorspar) and an Inferred Resource of 131.1Mt at 1.91% REO and 4.0% CaF2 at a cut-off NMR of $287. Mineral resources are not mineral reserves as they have not demonstrated economic viability. These assets complement Mont Royal’s Northern Lights lithium, copper and gold exploration projects. The administrative process of the transaction was well progressed at the end of the reporting period, with key documentation well advanced in preparation of lodgement with market regulatory bodies in both Canada and Australia. In June 2025, Commerce Resources appointed highly experienced international mining executive Mr Nicholas Holthouse as President & Chief Executive Officer. Following completion of the proposed merger with Commerce, Mr Holthouse will also be appointed as Managing Director of the merged entity. The Company expects the merger to complete in the second half of CY2025, subject to shareholder and regulatory approvals. Post-merger, Mont Royal shareholders will gain exposure to a diversified pipeline of battery and rare earths projects positioned to support global decarbonisation and electrification trends. Northern Lights Project – Quebec, Canada Bohier Lithium Project Mont Royal completed its maiden summer drilling campaign at the Bohier Lithium Project during the September 2024 quarter. A total of eight (8) diamond drill holes were completed for 744 metres. The drilling primarily targeted the main BHP-2 pegmatite, near the previously identified surface exposure and its western extension. Assay results confirmed a significant zone of lithium mineralisation, with four holes intersecting high-grade spodumene mineralisation over down-hole widths of up to 21 metres. Results included:  21 metres at 1.39% Li2O in hole BOH-24-07  7.65 metres at 1.89% Li2O in hole BOH-24-06  1.45 metres at 2.79% Li2O in hole BOH-24-02 Mineralisation is interpreted to be continuous over a length of 200 metres and a depth of 70 metres and remains open laterally. Several targets remain untested. 3 MONT ROYAL RESOURCES LIMITED AND ITS CONTROLLED ENTITIES DIRECTORS’ REPORT 3D analysis of the drill core suggests rapid changes in the dip of the mineralised dyke. The next phase of exploration, which will include drilling of untested targets, will include drill holes located on both sides of the targeted anomalies to increase the chances of success. Léran Project Reconnaissance fieldwork at the Léran Project during the reporting period delivered several new targets for followup exploration at the Petit Léran prospect. Petit Léran is the westernmost prospect on the property and was targeted based on the discovery of a spodumene-bearing boulder in 2023. No outcrops were observed due to the significant layer of glacial cover; however, several additional spodumene-mineralised blocks were found in the central part of the area, up-ice of the 2023 discovery. The size and shape of these blocks suggest a nearby source of spodumene mineralisation. Follow-up exploration work will be undertaken at Petit Léran to determine the source of the spodumene blocks. Wapatik Project In November 2024, Mont Royal resolved not to continue with the option to earn the initial 50% interest in a joint venture between Mont Royal and Azimut Exploration Inc.) (TSXV: AZM) in connection with the Wapatik Project (“Option”). Over the course of the Option, the Wapatik Project had delivered mixed exploration results across three drilling campaigns. However, due to challenging commodity headwinds, the Board chose not to embark into the fourth year of exploration commitments and therefore did not satisfy the required spending commitments to earn an initial 50% ownership interest in the Project. Accordingly, the option was not exercised by its expiry date of 9 November 2024 with the result that it has lapsed. Corporate and Financial Mont Royal shares were suspended from the ASX on 17 February 2025 pending the release of an announcement regarding a proposed re-compliance transaction under Listing Rule 11.1. The voluntary suspension will remain in place until the Company has complied with the procedures outlined in section 2.10 of ASX Guidance Note 12 in relation to the proposed transaction. Mont Royal continues to engage closely with the ASX and other stakeholders to ensure a smooth and timely re-listing process for the merged entity. The Company held $0.78 million in cash at 30th June 2025. Mont Royal continues to maintain strict cost controls with no large recurring general and administrative expenses except for costs involved in implementing the proposed merger with Commerce. The Company’s estimated exploration tax rebate for FY2025 is approximately C$0.28 (A$0.31) million which is anticipated to be received in the next six months. Operating and Financial Risks The Group’s activities have inherent risk and the Board is unable to provide certainty of the expected results of activities, or that any or all of the likely activities will be achieved. The material business risks faced by the Group that could influence the Group’s future prospects, and how the Group manages these risks, are detailed below: Operational risks The Company may be affected by various operational factors. In the event that any of these potential risks eventuate, the Company’s operational and financial performance may be adversely affected. No assurances can be given that the Company will achieve commercial viability through the successful exploration and/or mining of its tenement interests. Until the Company is able to realise value from its projects, it is likely to incur ongoing operating losses. The tenements are at various stages of exploration, and potential investors should understand that mineral exploration and development are speculative and high-risk undertakings that may be impeded by circumstances and factors beyond the control of the Company. There can be no assurance that exploration of the Tenements, or any other exploration properties that may be acquired in the future, will result in the discovery of an economic mineral resource. Even if an apparently viable deposit is identified, there is no guarantee that it can be economically exploited. There is no assurance that exploration or project studies by the Company will result in the definition of an economically viable mineral deposit. In the event the Company successfully delineates economic deposits on any Tenement, it will need to apply for a mining lease to undertake development and mining on the relevant Tenement. There is no guarantee that the Company will be granted a mining lease if one is applied for and if a mining lease is granted, it will also be subject to conditions which must be met. Further capital requirements The Company’s projects may require additional funding in order to progress activities. There can be no assurance that additional capital or other types of financing will be available if needed to further exploration or possible development activities and operations or that, if available, the terms of such financing will be favourable to the Company. 4 MONT ROYAL RESOURCES LIMITED AND ITS CONTROLLED ENTITIES DIRECTORS’ REPORT The Company’s activities are subject to Government regulations and approvals The Company is subject to certain Government regulations and approvals. Any material adverse change in government policies or legislation in Quebec, Canada that affect mining, processing, development and mineral exploration activities, export activities, income tax laws, royalty regulations, government subsidiaries and environmental issues may affect the viability and profitability of any planned exploration or possible development of the Company’s portfolio of projects. Global conditions General economic conditions, movements in interest and inflation rates and currency exchange rates may have an adverse effect on the Company’s exploration activities, as well as on its ability to fund those activities. General economic conditions, laws relating to taxation, new legislation, trade barriers, movements in interest and inflation rates, currency exchange controls and rates, national and international political circumstances (including outbreaks in international hostilities, wars, terrorist acts, sabotage, subversive activities, security operations, labour unrest, civil disorder, and states of emergency), natural disasters (including fires, earthquakes and floods), and quarantine restrictions, epidemics and pandemics, may have an adverse effect on the Company’s operations and financial performance, including the Company’s exploration, as well as on its ability to fund those activities. General economic conditions may also affect the value of the Company and its market valuation regardless of its actual performance. Significant Changes in the State of Affairs There were no significant changes in the consolidated group’s state of affairs occurred during the year. Events Subsequent to the End of the Reporting Period On 11 September 2025, the Company released a Notice of General Meeting to be held on 10 October 2025 to approve the acquisition of Commerce Resources Corporation. On 17 September 2025, the Company lodged a prospectus with ASIC with respect to an offer to raise a minimum of A$8 million and up to A$10 million (before costs) by the issue of between 40.0 million and no more than 50.0 million new fully paid ordinary shares (on a post-consolidation basis) at an issue price of A$0.20 per share. No other matter or circumstance has arisen since 30 June 2025 that has significantly affected, or may significantly affect the entity's operations, the results of those operations, or the entity's state of affairs in future financial years. Likely Developments and Expected Results of Operations On 10 April 2025, Mont Royal announced that it had entered into a definitive arrangement agreement, pursuant to which Mont Royal will acquire 100% of the issued and outstanding shares of Commerce Resources Corp. (“Commerce Shares”) by way of a statutory plan of arrangement under the Business Corporations Act Business Columbia (“BCBCA”). The Company expects the merger to complete in the second half of CY2025, subject to shareholder and regulatory approvals. Likely developments in the operations of the consolidated group and the expected results of those operations in future years have not been included in this report as the inclusion of such information is likely to result in unreasonable prejudice to the consolidated group. Environmental Regulation The consolidated group is subject to environmental regulations under the laws of the countries in which it undertakes exploration activities and ensures that it complies with all applicable regulations when carrying out exploration works. To the best of the directors' knowledge and belief, all responsibilities under the regulations have been discharged and there have been no breaches of any environmental regulation. Dividends No dividends were paid or declared since the start of the year. 5 MONT ROYAL RESOURCES LIMITED AND ITS CONTROLLED ENTITIES DIRECTORS’ REPORT Options The Company has the following options on issue as at the date of the Directors’ Report. Expiry Date Exercise price Number of Securities 2025 29 October 2024 25 November 2024 25 March 2026 10 November 2026 Total $0.35 $0.35 $0.30 $0.35 1,500,000 3,000,000 4,500,000 2024 4,750,000 5,000,000 1,500,000 3,000,000 14,250,000 Option holders do not have any right, by virtue of the options, to participate in any share issue of the Company or any related body corporate. Directors’ Interests in Shares and Options of the Company As at the date of this report, the directors’ interest in shares and options of the Company were: Number of Ordinary Shares Gary Lawler Peter Ruse Ronnie Beevor Number of Options over Ordinary Shares 2,437,500 2,237,840 937,500 1,500,000 Corporate Governance In recognising the need for the highest standards of corporate behaviour and accountability, the directors of the Company support and have substantially adhered to the best practice recommendations set by the ASX Corporate Governance Council. The Company’s corporate governance statement is contained in the annual report. Indemnification of Officers the Company has, to the extent permitted by law, during or since the end of the year, in respect of any person who is or has been an officer of the Company or a related body corporate: indemnified or made any relevant agreement for indemnifying against a liability incurred as an officer, including costs and expenses in successfully defending legal proceedings; or paid or agreed to pay a premium in respect of a contract insuring against a liability incurred as an officer for the costs or expenses to defend legal proceedings. Premiums paid are not disclosed because disclosure is prohibited by the insurance contract. Indemnification of Auditors To the extent permitted by law, the parent entity has agreed to indemnify the auditors, BDO Audit Pty Ltd, as part of the terms of its audit engagement agreement against claims by third parties arising from the audit (for an unspecified amount). No payment has been made to indemnify BDO Audit Pty Ltd during or since year-end. Proceedings on Behalf of Company No person has applied for leave of Court to bring proceedings on behalf of the company or intervene in any proceedings to which the company is a party for the purpose of taking responsibility on behalf of the company for all or any part of those proceedings. The company was not a party to any such proceedings during the year. Auditor’s Independence Declaration A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out on page 11. 6 MONT ROYAL RESOURCES LIMITED AND ITS CONTROLLED ENTITIES DIRECTORS’ REPORT Non-Audit Services Fees paid or payable to the auditor (BDO Audit Pty Ltd and network firms) for non-audit services during the year are disclosed in Note 20 to the financial statements, Auditor’s Remuneration. The directors are satisfied that the provision of non-audit services during the year is compatible with the general standard of independence for auditors imposed by the Corporations Act 2001. The Directors are satisfied that the services disclosed below did not compromise the external auditors’ independence for the following reasons: all non-audit services are reviewed and approved by the Board of Directors prior to commencement to ensure they do not adversely affect the integrity and objectivity of the auditor; and the nature of the services provided does not compromise the general principles relating to auditor independence in accordance with APES 110: Code of Ethics for Professional Accountants (including Independence Standards) set by the Accounting Professional and Ethical Standards Board. Rounding of Amounts The Company is of a kind referred to in ASIC Legislative Instrument 2016/191, relating to the ‘rounding off’ of amounts in the directors’ report. Amounts in the directors’ report have been rounded off in accordance with the instrument to the nearest dollar. 7 MONT ROYAL RESOURCES LIMITED AND ITS CONTROLLED ENTITIES DIRECTORS’ REPORT REMUNERATION REPORT (AUDITED) This report outlines the remuneration arrangements in place for directors and executives of the Company. Remuneration Policy Key management personnel covered in this report: Gary Lawler Chairman Peter Ruse Executive Director Ronnie Beevor Non-Executive Director The remuneration policy of the Company has been designed in order to ensure that the Company is able to attract and retain executives and Directors who will create value for shareholders, having regard to the amount considered to be commensurate for an entity of the Company’s size and level of activity as well as the relevant directors’ time, commitment and responsibility. The Board’s policy for determining the nature and amount of remuneration for board members and other senior executives of the Group is as follows: The remuneration policy setting out the terms and conditions of any executive director was developed by the Board. All senior executives will be subject to an annual performance evaluation against an established set of performance targets which are aligned to overall business goals and the Company’s requirement of the position. Performance pay components of executives’ packages are dependent on the outcome of the evaluation. Remuneration packages for executive directors and other senior executives include an appropriate balance of fixed remuneration and performance-based remuneration. Fixed remuneration takes into account the Company’s obligations at law and labour market conditions, and is relative to the scale of the Company’s business. Non-executive directors are remunerated by way of cash fees, superannuation contributions and non-cash benefits in lieu of fees (such as salary sacrifice into superannuation or equity). Levels of fixed remuneration for non-executive directors reflect the time commitment and responsibilities of the role. Remuneration and other terms of employment for the executive director and other senior executives have been formalised in service agreements as follows: The Company has entered into an executive service agreement with executive director, Mr Peter Ruse. The terms of the service agreement are set out as follows: - Commencement date: 26 March 2018 - Term: no fixed - Fixed remuneration: $150,000 per annum - Termination for cause: no notice period - Termination without cause: three month notice period The Company has entered into an agreement with non-executive chairman, Mr Gary Lawler. The terms of the agreement are set out as follows: - Commencement date: 15 October 2018 - Term: no fixed - Fixed remuneration: $75,000 per annum plus superannuation - Termination for cause: no notice period - Termination without cause: no notice period The Company has entered into an agreement with non-executive director, Mr Ronnie Beevor. The terms of the agreement are set out as follows: - Commencement date: 25 March 2023 - Term: no fixed - Fixed remuneration: $55,000 per annum plus superannuation - Termination for cause: no notice period - Termination without cause: no notice period Remuneration of non-executive directors is determined by the Board within the maximum amount approved by shareholders from time to time which current stands at $400,000 per annum. The Board undertakes an annual review of its performance and may exercise discretion in relation to approving incentives, bonuses and options. All remuneration paid to directors and executives is valued at the cost to the Company and expensed. 8 MONT ROYAL RESOURCES LIMITED AND ITS CONTROLLED ENTITIES DIRECTORS’ REPORT REMUNERATION REPORT (AUDITED) Performance-based remuneration The Company currently has not granted any performance-based remuneration during the year. The table below summarises the earnings of the Group and other factors that are considered to affect shareholder wealth for the last 5 years. Loss after income tax attributable to shareholders ($) Share price at year end ($) Total dividends declared (cents per share) Returns on capital (cents per share) Basic earnings/(loss) per share (cents) 2025 (1,504,695) 2024 (2,625,450) 2023 (820,331) 2022 (2,052,159) 2021 (710,190) 0.041 - 0.072 - 0.115 - 0.34 - 0.255 - (1.76) (3.14) (1.20) (3.89) (1.86) Key management personnel compensation Details of the nature and amount of emolument paid for each director and executive of Mont Royal Resources Limited for the year ended 30 June 2025 and 2024 are set out below: Primary Benefits Post Employment Share Other Based Benefits TOTAL Options Based Payments Directors Salary Cash Non- Super- Retirement & Fees Bonus Monetary annuation Benefits $ $ $ $ $ Options $ $ $ % 2025 G Lawler 75,000 - - 8,625 - - - 83,625 - P Ruse 150,000 - - - - - - 150,000 - R Beevor 55,000 - - 6,325 - 12,287 - 73,612 17 Total 280,000 - - 14,950 - 12,287 - 307,237 4 2024 G Lawler 75,000 - - 8,250 - - - 83,250 - P Ruse 150,000 - - - - - - 150,000 - R Beevor 55,000 - - 6,050 - 41,411 - 102,461 40 Total 280,000 - - 14,300 - 41,411 - 335,711 12 Remuneration Options During the year ended 30 June 2025 and 2024, no options were issued as part of director remuneration. During the year ended 30 June 2025, 3,000,000 remuneration options expired unexercised by the directors. Shareholdings by Directors 2025 Balance 01/07/24 (No. of Shares) G Lawler P Ruse R Beevor Total 2,437,500 2,237,840 937,500 5,612,840 Received Remuneration (No. of Shares) - 9 No. of Options Exercised - Net Other Change (No. of Shares) - Balance 30/06/25 (No. of Shares) 2,437,500 2,237,840 937,500 5,612,840 MONT ROYAL RESOURCES LIMITED AND ITS CONTROLLED ENTITIES DIRECTORS’ REPORT REMUNERATION REPORT (AUDITED) Options Holdings by Directors 2025 Balance 01/07/24 (No. Options) Granted as Remuneration (No. Options) No. of Options Acquired No. of Options Exercised 1,500,000 1,500,000 1,500,000 4,500,000 - - - G Lawler P Ruse R Beevor Total No. of Options Expired Balance 30/06/25 (No. Options) (1,500,000) (1,500,000) (3,000,000) 1,500,000 1,500,000 Balance 30/06/25 (No. Options) (Vested and exercisable) 1,500,000 1,500,000 The Company received more than 99% of “yes” votes on its remuneration report for the 2024 financial year. The Company did not receive any specific feedback at the AGM or throughout the year on its remuneration practices. End of remuneration report (audited). Signed in accordance with a resolution of the Directors. On behalf of the Directors Peter Ruse Executive Director 26 September 2025 10 MONT ROYAL RESOURCES LIMITED AND ITS CONTROLLED ENTITIES Tel: +61 8 6382 4600 Fax: +61 8 6382 4601 www.bdo.com.au Level 9, Mia Yellagonga Tower 2 5 Spring Street Perth, WA 6000 PO Box 700 West Perth WA 6872 Australia DECLARATION OF INDEPENDENCE BY JACKSON WHEELER TO THE DIRECTORS OF MONT ROYAL RESOURCES LIMITED As lead auditor of Mont Royal Resources Limited for the year ended 30 June 2025, I declare that, to the best of my knowledge and belief, there have been: 1. No contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and 2. No contraventions of any applicable code of professional conduct in relation to the audit. This declaration is in respect of Mont Royal Resources Limited and the entities it controlled during the period. Jackson Wheeler Director BDO Audit Pty Ltd Perth 26 September 2025 BDO Audit Pty Ltd ABN 33 134 022 870 is a member of a national association of independent entities which are all members of A.C.N. 050 110 275 Ltd ABN 77 050 110 275, an Australian company limited by guarantee. BDO Audit Pty Ltd and A.C.N. 050 110 275 Ltd are members of BDO International Ltd, a UK company limited by guarantee, and form part of the international BDO network of independent member firms. Liability limited by a scheme approved under Professional Standards Legislation 11 MONT ROYAL RESOURCES LIMITED AND ITS CONTROLLED ENTITIES CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2025 Note Interest revenue Expenses Corporat