Announcement PDF Raiden Resources Limited ACN 009 161 522 Interim Report - 31 December 2025 Raiden Resources Limited Corporate directory 31 December 2025 1 Directors Mr Dusko Ljubojevic – Managing Director Mr Michael Davy – Non-Executive Chairman Ms Kyla Garic - Non-Executive Director Company secretary Ms Kyla Garic Registered office Suite 7/63 Shepperton Road Victoria Park WA 6100 Share registry Automic Pty Ltd Level 2, 267 St Georges Terrace Perth WA 6000 Auditor RSM Australia Partners Level 32, 2 The Esplanade Perth WA 6000 Bankers NAB 197 St Georges Terrace Perth WA 6000 Stock exchange listing Raiden Resources Limited Shares are listed on the Australian Securities Exchange (ASX code: RDN/ DAX code: YM4) Website www.raidenresources.com.au Raiden Resources Limited Directors' report 31 December 2025 2 The Directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'consolidated entity') consisting of Raiden Resources Limited (referred to hereafter as the 'Company) and the entities it controlled at the end of, or during, the half-year ended 31 December 2025. Directors The following persons were Directors of Raiden Resources Limited during the whole of the financial half-year and up to the date of this report, unless otherwise stated: Name Position Mr Dusko Ljubojevic Managing Director Mr Michael Davy Non-Executive Chairman Ms Kyla Garic Non-Executive Director Principal activities During the half year, the principal activities of the consolidated entity was mineral exploration. Financial review The loss for the consolidated entity after providing for income tax and non-controlling interest amounted to 3,045,922 (31 December 2024: 3,999,662). Review of operations During the reporting period the following activities were undertaken: Exploration Activities In Europe Vuzel Project During the reporting period, on 1 July 2025,1 assay results from a further 4 holes were received from the Phase 2 drilling program. Significant gold intersections from the 4 holes included: o VZ2525: 13.6m @ 0.58g/t from 19.4m o Including 5.0m @ 1.30g/t Au from 21.0m o VZ2526: 5.1m @ 0.76g/t Au from 20.9m o VZ2527: 17.3m @ 0.93g/t Au from 43.0m o Including 1.6m @ 7.69g/t Au from 58.7m o VZ2528: 10.0m @ 1.03g/t Au from 15.5m o And 11.0m @ 0.98g/t Au from 30.5m Significantly, drill hole VZ2527 intersected a high-grade feeder structure, with 1.6m @ 7.69g/t Au at 58.7m within the interpreted epithermal feeder structure previously identified. On 22 September,3 assay results from a further 11 holes were announced from the Phase 2 drilling program, with significant intersections including: o VZ2529: 5.6m @ 1.08g/t Au from 18.4m o VZ2531: 3.6m @ 2.09g/t Au from 4.0m o VZ2532: 4.2m @ 1.12g/t Au from 12.6m o VZ2535: 7.4m @ 0.99g/t Au from 8.6m o VZ2537: 9.3m @ 0.91g/t Au from 19.8m In addition, the results from an IP survey were announced, which consisted of 7 lines, with a total length of 10.6 kilometres. The lines were oriented NWSE and East-West, with the objective of defining potential high-grade epithermal structures which were intersected in the drilling, as well as delineating the contacts of the sub horizontal conglomerate and sandstone units, which host the mineralisation. The IP lines were located over the central target area anomaly, where current drilling has defined shallow mineralisation and epithermal feeder zones, as well as to the north and south along the projected strike of the epithermal feeder zones. A further IP line was centred across the silver anomaly to assist with defining a better understanding of structural and geological controls. On the basis of the interpretation of the results, following conclusions were derived: o The IP survey was able to distinguish between the conglomerate, sandstone and limestone geological units, as well as map potential feeder structures across multiple trends, which is key to determining future drilling targets. Raiden Resources Limited Directors' report 31 December 2025 3 o Currently defined mineralisation in the central area appears to correlate to zones of moderate chargeability and resistivity within the conglomerate units and which are proximal to potential epithermal feeder structures. o On the basis of these interpretations, 3 separate north and north-west trends have been defined as key target areas for further follow up exploration. o Within these trends, areas of chargeability and resistivity anomalism, in conjunction with interpreted feeder structures were used to designate priority target areas for future drill testing. Figure 1: Vuzel Exploration project depicting the potential drilling targets as defined on the basis of the IP program and supporting data.3 Figure 2: IP cross section line 5, with interpreted geological units; structures, mineralisation as defined through drilling and supporting surface anomalism.3 Raiden Resources Limited Directors' report 31 December 2025 4 During the reporting period, on 14 August 2025,3 Raiden announced that it had applied for access permits, with the plan to drill test the previously identified Skarn Silver Anomaly at the Vuzel Exploration Permit, illustrated in Figure 6 below. Figure 3: Vuzel Exploration permit, structures, geology and original exploration targets, including location of Skarn Silver Anomaly (permitting remains underway)3 Other Projects During the reporting period, no substantive work was conducted across the remainder of Raiden's European portfolio (Zlatusha, BG1). Because of significant community opposition to the planned activities on the Zlatusha project in Bulgaria and the projects proximity to the capital city of Sofia, the Company, along with its Joint Venture partner Velocity Minerals, have decided not to pursue further work on the property and the project is no longer within the Company’s portfolio. The joint venture with Velocity Minerals and Raiden has been mutually terminated. Exploration Activities In Australia Mt Sholl Project During the reporting period, the Company has undertaken further desktop evaluation and targeting work on the Mt Sholl project, including the data sets which were generated through the First Quantum Mineral exploration campaign, which included multiple geophysical surveys, drilling, mapping and sampling. The Company further undertook evaluations of the next steps required for metallurgical evaluations in order to progress the project. The overall objective of the program was to determine the next steps which will need to be undertaken in order to advance the project. Due to the depressed nickel prices on global markets, the Company has decided that further drilling programs should be delayed until such a time when nickel prices improve and provide for a more favourable sentiment for project advancement. In parallel the company has also continued to evaluate potential partnerships for the project. Andover Project During the reporting period, the company completed rehabilitation work over the drill pads and access roads which were constructed during the maiden drilling program. Furthermore, the Company has continued with re-evaluation of the available technical data, with the objective to refine potential pegmatite targets which were defined in the previous exploration campaigns through mapping and magnetic surveys. Due to the prevailing low process of lithium on the global markets, management have decided not to pursue an aggressive exploration program on the project, until such a time until the lithium prices improve. Raiden Resources Limited Directors' report 31 December 2025 5 Exploration Activities In Brazil Crixas Gold Project1,A During the reporting period, on 20 November 2025,4 Raiden announced that it had secured the right to acquire an 85% commercial interest in the Crixás Gold Tailings Project in Brazil, located ~5kms from the town of Crixás and ~450 kms north-west of Brasília, the capital of Brazil. (Figure 4). The Project encompasses an area of 28.79 hectares and comprises a large, valley-fill gold tailings deposit derived from decades of intensive artisanal mining. It is estimated that the recovery rates by the artisanal miners were very poor, due to the technology that was utilised at the time.4 Figure 4: Project Location Map. Historical work (Figures 5) suggests that gold-bearing material may remain within the tailings, presenting Raiden with the opportunity to potentially define a gold resource through further confirmatory drilling, sampling and metallurgical testwork.A A Cautionary Statement The Crixás Tailings Gold Project does not currently contain any Mineral Resource or Ore Reserve estimates reported in accordance with the JORC Code (2012). References to historical mining, sampling, production and tailings characteristics are based on historical and vendor-supplied information, including a technical report completed in 2010 by Gopala’s International, which was not prepared in accordance with the JORC Code and has not been independently verified by Raiden. These data are considered conceptual and should not be relied upon as indications of grade, tonnage or economic viability. Any reference to the potential for gold resources, production, capital-efficiency and other geological or commercial information is conceptual in nature and remains subject to further work. Further work includes and is not limited to confirmatory drilling and sampling, metallurgical testwork, resource estimation, engineering studies and the receipt of all required regulatory approvals. Raiden Resources Limited Directors' report 31 December 2025 6 Figure 5: Location and grades of historical tailings sampling results. Results are from samples collected from the surface, or approximately 1 metre depth (previously reprocessed tailings).4,A During the reporting period and following the period’s end, Raiden has continued to advance the acquisition towards completion, which including finalisation of due diligence and execution of a long-form agreements to Raiden’s satisfaction, as well as receipt of any required regulatory or third-party approvals. References 1. ASX:RDN, 1 July 2025 “High Grade Feeder Zone Intersected at Vuzel Gold Project” 2. ASX:RDN, 22 September 2025 “Vuzel IP Survey Generates Multiple Untested Gold and Silver Targets” 3. ASX:RDN, 14 August 2025, “Vuzel Update Silver Anomaly Permit & IP Data Processing” 4. ASX:RDN, 20 November 2025 “Significant Gold Tailings Reprocessing Opportunity Secured” Competent Person and Compliance Statement The Company confirms that it is not aware of any information or data that materially affects the information included in the market announcements referenced 1 to 4 above and that all material assumptions and technical parameters continue to apply. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements. Significant changes in the state of affairs There were no significant changes in the state of affairs of the consolidated entity during the financial half-year. Matters subsequent to the end of the financial half-year No matter or circumstance has arisen since 31 December 2025 that has significantly affected, or may significantly affect the consolidated entity's operations, the results of those operations, or the consolidated entity's state of affairs in future financial years. 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 immediately after this Directors' report. Raiden Resources Limited Directors' report 31 December 2025 7 This report is made in accordance with a resolution of Directors, pursuant to section 306(3)(a) of the Corporations Act 2001. On behalf of the Directors ___________________________ Michael Davy Non-Executive Chairman 11 March 2026 RSM Australia Partners is a member of the RSM network and trades as RSM. RSM is the trading name used by the members of the RSM network. Each member of the RSM network is an independent accounting and consulting firm which practices in its own right. The RSM network is not itself a separate legal entity in any jurisdiction. RSM Australia Partners ABN 36 965 185 036 Liability limited by a scheme approved under Professional Standards Legislation RSM Australia Partners Level 32, Exchange Tower, 2 The Esplanade Perth WA 6000 GPO Box R1253 Perth WA 6844 T +61 (0) 8 9261 9100 www.rsm.com.au AUDITOR’S INDEPENDENCE DECLARATION As lead auditor for the review of the financial report of Raiden Resources Limited for the half-year ended 31 December 2025, I declare that, to the best of my knowledge and belief, there have been no contraventions of: (i) the auditor independence requirements of the Corporations Act 2001 in relation to the review; and (ii) any applicable code of professional conduct in relation to the review. RSM AUSTRALIA Perth, WA MATTHEW BEEVERS Dated: 11 March 2026 Partner Raiden Resources Limited Contents 31 December 2025 9 Consolidated statement of profit or loss and other comprehensive income 10 Consolidated statement of financial position 11 Consolidated statement of changes in equity 12 Consolidated statement of cash flows 13 Notes to the consolidated financial statements 14 Directors' declaration 18 Independent auditor's review report to the members of Raiden Resources Limited 19 General information The financial statements cover Raiden Resources Limited as a consolidated entity consisting of Raiden Resources Limited and the entities it controlled at the end of, or during, the half-year. The financial statements are presented in Australian dollars, which is Raiden Resources Limited's functional and presentation currency. Raiden Resources Limited is a listed public company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is: Registered Office and principal place of business Suite 7/63 Shepperton Road Victoria Park WA 6100 A description of the nature of the consolidated entity's operations and its principal activities are included in the Directors' report, which is not part of the financial statements. The financial statements were authorised for issue, in accordance with a resolution of Directors, on 11 March 2026. Raiden Resources Limited Consolidated statement of profit or loss and other comprehensive income For the half-year ended 31 December 2025 Note 31 December 2025 31 December 2024 $ $ The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes 10 Revenue Interest income 279,472 201,327 Other income 100,000 150,294 Expenses Accounting and other professional fees (149,029) (131,438) Administrative costs (115,592) (5,104) Corporate expenses (101,837) (136,033) Depreciation and amortisation expense (14,307) (7,617) Director fees (128,527) (131,958) Exploration expenditure (1,016,646) (3,863,948) Impairment of assets 4 (1,976,455) - Legal fees (28,882) (30,200) Marketing and investor relations (32,500) (62,900) Loss before income tax expense (3,184,303) (4,017,577) Income tax expense - - Loss after income tax expense for the half-year (3,184,303) (4,017,577) Other comprehensive loss Items that may be reclassified subsequently to profit or loss Exchange differences on translating foreign operations (43,805) (35,624) Other comprehensive loss for the half-year, net of tax (43,805) (35,624) Total comprehensive loss for the half-year (3,228,108) (4,053,201) Loss for the half-year is attributable to: Non-controlling interest (138,381) (17,915) Owners of Raiden Resources Limited (3,045,922) (3,999,662) (3,184,303) (4,017,577) Total comprehensive loss for the half-year is attributable to: Non-controlling interest (138,381) (17,915) Owners of Raiden Resources Limited (3,189,727) (4,035,286) (3,228,108) (4,053,201) Cents Cents Basic loss per share 11 (0.09) (0.13) Diluted loss per share 11 (0.09) (0.13) Raiden Resources Limited Consolidated statement of financial position As at 31 December 2025 Note 31 December 2025 30 June 2025 $ $ The above consolidated statement of financial position should be read in conjunction with the accompanying notes 11 Assets Current assets Cash and cash equivalents 1,026,946 2,797,156 Term deposits 3 11,545,000 11,245,000 Trade and other receivables 267,323 427,229 Financial assets 262,374 268,698 Other current assets 50,880 46,677 Total current assets 13,152,523 14,784,760 Non-current assets Plant and equipment 29,682 41,167 Intangibles 23,873 27,407 Exploration and evaluation expenditure 4 12,077,009 14,053,464 Financial asset fair value through profit and loss 150,000 - Total non-current assets 12,280,564 14,122,038 Total assets 25,433,087 28,906,798 Liabilities Current liabilities Trade and other payables 99,275 346,838 Employee benefits 13,525 11,565 Total current liabilities 112,800 358,403 Total liabilities 112,800 358,403 Net assets 25,320,287 28,548,395 Equity Issued capital 5 53,034,549 53,034,549 Reserves 6 4,888,710 4,932,515 Accumulated losses (32,172,094) (29,126,172) Equity attributable to the owners of Raiden Resources Limited 25,751,165 28,840,892 Non-controlling interest (430,878) (292,497) Total equity 25,320,287 28,548,395 Raiden Resources Limited Consolidated statement of changes in equity For the half-year ended 31 December 2025 The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes 12 Issued capita l Share-based payment reserve Option reserve Foreign currency reserve Accumulate d losses Non- controlling interest Total equity $ $ $ $ $ $ $ Balance at 1 July 2024 38,328,754 1,541,647 3,134,688 57,808 (22,335,335) (107,991) 20,619,571 Loss after income tax expense for the half-year - - - - (3,999,662) (17,915) (4,017,577) Other comprehensive loss for the half-year, net of tax - - - (35,624) - - (35,624) Total comprehensive loss for the half-year - - - (35,624) (3,999,662) (17,915) (4,053,201) Transactions with owners in their capacity as owners: Vested performance rights 14,732,668 - - - - - 14,732,668 Issue of options (note 5) - - 197,232 - - - 197,232 Balance at 31 December 2024 53,061,422 1,541,647 3,331,920 22,184 (26,334,997) (125,906) 31,496,270 Issued capita l Share-based payment reserve Option reserve Foreign currency reserve Accumulate d losses Non- controlling interest Total equity $ $ $ $ $ $ $ Balance at 1 July 2025 53,034,549 1,541,647 3,331,920 58,948 (29,126,172) (292,497) 28,548,395 Loss after income tax expense for the half-year - - - - (3,045,922) (138,381) (3,184,303) Other comprehensive loss for the half-year, net of tax - - - (43,805) - - (43,805) Total comprehensive loss for the half-year - - - (43,805) (3,045,922) (138,381) (3,228,108) Balance at 31 December 2025 53,034,549 1,541,647 3,331,920 15,143 (32,172,094) (430,878) 25,320,287 Raiden Resources Limited Consolidated statement of cash flows For the half-year ended 31 December 2025 Note 31 December 2025 31 December 2024 $ $ The above consolidated statement of cash flows should be read in conjunction with the accompanying notes 13 Cash flows from operating activities Payments to suppliers and employees (446,702) (745,906) Payments for exploration and evaluation (1,168,652) (3,591,845) Joint venture exploration advances expended - (6,824) Interest received 303,143 125,317 Net cash used in operating activities (1,312,211) (4,219,258) Cash flows from investing activities Payments for financial assets – Fair value through profit and loss (150,000) - Payments for term deposits (300,000) - Net cash used in investing activities (450,000) - Cash flows from financing activities Proceeds from issue of shares (net of costs) 5 - 9,374,750 Proceeds from exercise of options and performance rights 6 - 5,555,150 Net cash from financing activities - 14,929,900 Net (decrease) / increase in cash and cash equivalents (1,762,211) 10,710,642 Cash and cash equivalents at the beginning of the financial half-year 2,797,156 5,710,321 Effects of exchange rate changes on cash and cash equivalents (7,999) (41,345) Cash and cash equivalents at the end of the financial half-year* 1,026,946 16,379,618 * Excludes cash held in term deposits refer to Note 3 Raiden Resources Limited Notes to the consolidated financial statements 31 December 2025 14 Note 1. Material accounting policy information Statement of compliance These general-purpose financial statements for the interim half-year reporting period ended 31 December 2025 have been prepared in accordance with Australian Accounting Standard AASB 134 'Interim Financial Reporting' and the Corporations Act 2001, as appropriate for for-profit oriented entities. Compliance with AASB 134 ensures compliance with International Financial Reporting Standard IAS 34 'Interim Financial Reporting'. This half-year financial report does not include full disclosures of the type normally included in an annual financial report. Therefore, it cannot be expected to provide as full an understanding of the financial performance, financial position and cash flows of the consolidated entity as in the full financial report. Accordingly, these financial statements are to be read in conjunction with the annual report for the year ended 30 June 2025 and any public announcements made by the Company during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001. Basis of preparation This half-year consolidated financial report has been prepared on a historical cost basis. Cost is based on the fair value of the consideration given in exchange for assets. The Company is domiciled in Australia and all amounts are presented in Australian dollars, unless otherwise noted. The principal accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period, unless otherwise stated. New or amended Accounting Standards and Interpretations adopted The consolidated entity has adopted all of the new or amended Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') that are mandatory for the current reporting period. Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted. Note 2. Operating segments The consolidated entity has identified one operating segment based on the internal reports that are reviewed and used by the Board of Directors (the chief operating decision makers) in assessing performance and in determining the allocation of resources. The consolidated entity’s sole operating segment is consistent with the presentation of these consolidated financial statements. Note 3. Term Deposits 31 December 2025 30 June 2025 $ Note 4. Exploration and evaluation expenditure 31 December 2025 30 June 2025 $ $ Exploration and evaluation cost 12,077,009 14,053,464 $ Term Deposits held at Bank on term greater than 3 months 11,545,000 11,245,000 Raiden Resources Limited Notes to the consolidated financial statements 31 December 2025 Note 4. Exploration and evaluation expenditure (continued) 15 Reconciliations Reconciliations of the written down values at the beginning and end of the current financial half-year are set out below: Total $ Balance at 1 July 2025 14,053,464 Impairment of assets (1,976,455) Balance at 31 December 2025 12,077,009 The Company has reviewed the carrying value of exploration and evaluation expenditure and determined that carrying value of Arrow Project ($1,693,541) and Zlatusha permit ($282,914) are impaired. These have been written down to their estimated recoverable amount of $Nil. Note 5. Issued capital 31 December 2025 30 June 2025 31 December 2025 30 June 2025 Shares Shares $ $ Ordinary shares - fully paid 3,450,891,442 3,450,891,442 53,034,549 53,034,549 Movements in ordinary Share capital Details Date Shares $ Balance 1 July 2024 2,713,462,477 38,328,754 Issue of shares under Placement 18 October 2024 312,500,000 10,000,000 Issue of shares on exercise of Options Various 366,678,965 5,500,409 Issue of shares on exercise of Performance Rights Various 58,250,000 54,750 Less: capital raising costs - (849,364) Balance 30 June 2025 3,450,891,442 53,034,549 Details Date Shares $ Balance 1 July 2025 3,450,891,442 53,034,549 Balance 31 December 2025 3,450,891,442 53,034,549 Note 6. Reserves 31 December 2025 30 June 2025 $ $ (a) Foreign currency reserve 15,143 58,948 (b) Options reserve 3,331,920 3,331,920 (c) Performance rights reserve 1,541,647 1,541,647 4,888,710 4,932,515 Raiden Resources Limited Notes to the consolidated financial statements 31 December 2025 Note 6. Reserves (continued) 16 (a) Foreign currency reserve Opening balance at 1 July 2024 57,808 Difference arising on translation 1,140 Balance at 30 June 2025 58,948 Opening balance at 1 July 2025 58,948 Difference arising on translation (43,805) Balance at 31 December 2025 15,143 (b) Option reserve Dates No $ Opening balance at 1 July 2024 01/07/2024 424,267,630 3,134,688 Exercise of Options (366,678,965) - Issue of Broker Options 20,000,000 197,232 Lapsed options (57,588,665) - Balance at 30 June 2025 20,000,000 3,331,920 Opening balance at 1 July 2025 01/07/2025 20,000,000 3,331,920 Balance at 31 December 2025 20,000,000 3,331,920 (c) Performance Rights Reserve Dates No $ Opening balance at 1 July 2024 01/07/2024 78,000,000 1,541,647 Conversion of Performance Rights 04/07/2024 (3,500,000) - Conversion of Performance Rights 06/09/2024 (45,000,000) - Conversion of Performance Rights 18/09/2024 (9,750,000) - Lapse of Performance Rights 16/10/2024 (18,250,000) - Balance at 30 June 2025 1,500,000 1,541,647 Opening balance at 1 July 2025 01/07/2025 1,500,000 1,541,647 Lapse of performance rights 30/11/2025 (1,500,000) - Balance at 31 December 2025 - 1,541,647 Note 7. Contingent liabilities The consolidated entity has no known contingent liabilities as at 31 December 2025. Note 8. Commitments There are no significant changes to commitments from 30 June 2025 audit. Note 9. Related party transactions Related party transactions remain consistent to those disclosed in the Company's annual financial report for the financial year ended 30 June 2025. Raiden Resources Limited Notes to the consolidated financial statements 31 December 2025 17 Note 10. Events after the reporting period No matter or circumstance has arisen since 31 December 2025 that has significantly affected, or may significantly affect the consolidated entity's operations, the results of those operations, or the consolidated entity's state of affairs in future financial years. Note 11. Earnings per Share 31 December 2025 31 December 2024 $ $ Loss after income tax (3,184,303) (4,017,577) Non-controlling interest 138,381 17,915 Loss after income tax attributable to the owners of Raiden Resources Limited (3,045,922) (3,999,662) Number Number Weighted average number of ordinary Shares used in calculating basic earnings per Share 3,450,891,442 2,996,327,961 Weighted average number of ordinary Shares used in calculating diluted earnings per Share 3,450,891,442 2,996,327,961 Cents Cents Basic loss per share (0.09) (0.13) Diluted loss per share (0.09) (0.13) Raiden Resources Limited Directors' declaration 31 December 2025 18 In the Directors' opinion: ● the attached financial statements and notes comply with the Corporations Act 2001, Australian Accounting Standard AASB 134 'Interim Financial Reporting', the Corporations Regulations 2001 and other mandatory professional reporting requirements; ● the attached financial statements and notes give a true and fair view of the consolidated entity's financial position as at 31 December 2025 and of its performance for the financial half-year ended on that date; and ● there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable. Signed in accordance with a resolution of Directors made pursuant to section 303(5)(a) of the Corporations Act 2001. On behalf of the Directors ___________________________ Michael Davy Non-Executive Chairman 11 March 2026 RSM Australia Partners is a member of the RSM network and trades as RSM. RSM is the trading name used by the members of the RSM network. Each member of the RSM network is an independent accounting and consulting firm which practices in its own right. The RSM network is not itself a separate legal entity in any jurisdiction. RSM Australia Partners ABN 36 965 185 036 Liability limited by a scheme approved under Professional Standards Legislation RSM Australia Partners Level 32 Exchange Tower, 2 The Esplanade Perth WA 6000 GPO Box R1253 Perth WA 6844 T +61 (0) 8 9261 9100 www.rsm.com.au INDEPENDENT AUDITOR’S REVIEW REPORT To the Members of Raiden Resources Limited Report on the Half-Year Financial Report Conclusion We have reviewed the accompanying half-year financial report of Raiden Resources Limited (the Company) and its subsidiaries (the Consolidated Entity) which comprises the consolidated statement of financial position as at 31 December 2025, the consolidated statement of profit or loss and other comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the half-year ended on that date, notes comprising material accounting policy information and other explanatory information, and the directors’ declaration of the consolidated entity comprising the Company and the entities it controlled at the half- year end or from time to time during the half-year. Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the half-year financial report of Raiden Resources Limited is not in accordance with the Corporations Act 2001 including: (a) giving a true and fair view of the Consolidated Entity’s financial position as at 31 December 2