Announcement PDF Raiden Resources Limited ABN 68 009 161 522 Annual Report - 30 June 2026 Raiden Resources Limited Contents 30 June 2026 1 Corporate directory 2 Directors' report 3 Auditor's independence declaration 25 Consolidated statement of profit or loss and other comprehensive income 26 Consolidated statement of financial position 27 Consolidated statement of changes in equity 28 Consolidated statement of cash flows 29 Notes to the consolidated financial statements 30 Consolidated entity disclosurestatement 47 Directors' declaration 48 Independent auditor's report to themembers of Raiden Resources Limited 49 General information The financial statements cover Raiden Resources Limited as a consolidated entity consisting of Raiden Resources Limited and the entities it controlled at theend of, or during, theyear. Thefinancial statements arepresented in Australian dollars, which isRaiden Resources Limited's functional and presentation currency. Raiden Resources Limited is a listed public company limited by shares, incorporated and domiciled in Australia. Itsregistered office and principal place of business is: Registered Address: Suite 7, 63 Shepperton Rd Victoria Park WA 6100 A description of the natureof the consolidated entity's operations and its principal activities areincluded 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 25 September 2026. Raiden Resources Limited Corporate directory 30 June 2026 2 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 Rd Victoria Park WA 6100 Share registry Automic Pty Ltd Level 2, 267 St Georges Terrace Perth WA 6000 Auditor RSM Australia Partners Level 32, Exchange Tower, 2 The Esplanade 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 30 June 2026 3 Your Directors present their report together with thefinancial statementsof Raiden Resources Limited (“theCompany” or “RDN”) and its subsidiaries (“the Group” or "consolidated entity") for the financial year ended 30 June 2026. Directors The names and theparticulars of theDirectors who held office during or sincethe end of theyear and until thedateof this report are disclosed below. The Directors were in office for this entire period unless otherwise stated. Name Position Appointed Mr Dusko Ljubojevic Managing Director 20 February 2018 Mr Michael Davy Non-Executive Chairman 29 June 2017 Ms Kyla Garic Non-Executive Director 1 April 2023 Company secretary Ms Kyla Garic held the position of Company Secretary at the end of the financial year. Qualification B Com, MAcc, CA, FGIA, FGIS Experience Ms Garic was appointed as Company Secretary on 27 June 2017. Ms Garic is a Chartered Accountant and Director of Onyx Corporate. Onyx Corporate a company specialising in company secretarial, corporate governance and financial reporting. Principal activities During theyear, theprincipal activities of theconsolidated entitywas mineral exploration. TheCompanyholdsrightsto projects in the Western Australia, Eastern Europe and Brazil. Review of operations i. Financial review The consolidated loss for the year amounted to $10,632,265 (30 June2025: loss of $6,975,344) and the consolidated entity held total of $11,982,352 in cash and cash equivalents and term deposits ($937,352 in cash and cash and cash equivalents and $11,045,000 in term deposits). ii. Operations review During the year ended 30 June 2026, the following activities occurred: Exploration Activities in Brazil Crixás Gold Tailings Project On 20 November 2025,1 Raiden announced that it had secured theright to acquire an 85% commercial interest in theCrixás Gold Tailings Project (“Crixás”) in Brazil. The Project is located ~5kms from thetown of Crixás and ~450 kms north-west of Brasília, the capital of Brazil (Figure 1). The Project encompasses an area of 28.79 hectares and lies within an established mining district. The regional setting is characterised by Archean and Proterozoic greenstone belts which have supported extensive historical gold production. Raiden Resources Limited Directors' report 30 June 2026 4 Figure 1: Project Location Map The tailings at theProject aretheresult of intenseartisanal mining (“garimpeiro” mining) whichtook placefromthe1980s through to approximately 2007, where an estimated 10,000-12,000 miners converged on an area known as the “Lavra”. Upwards of 380 shafts descending up to 100 meters were developed. Hammer mills were used to crush the ore into coarse sands to extract the gold. This processing methodology is considered to be highly inefficient by today’s standards. Existing on-site infrastructure includes workshops and offices (Figure 2) with road access and access to water and nearby grid power. Figure 2: Example of existing infrastructure and road access. Raiden Resources Limited Directors' report 30 June 2026 5 Given the presence of existing on-site infrastructure, access to water and nearby grid power, and historical work indicating significant volumes of unrecovered gold-bearing material, Raiden considers theCrixás Project to havepotential to support a near- term, low-CAPEX production scenario.A During and following theReporting Period’s end, Raiden’s focus is to finalisetheremaining administrative, regulatory and project preparation workstreams to support project advancement and ultimately a Final Investment Decision (FID) for potential development.A On 15 April 2026, Raiden advised that its due diligence of the Project had advanced. Further, the Company noted that documentation and supporting technical studies relating to theongoing environmentallicensing process had been submitted and wereunderreview bythecompetentstateauthority.Anumberofotheradministrativeandoperationalworkstreamsalsoadvanced to support the rapid evaluation and development of the Project subject to transaction completion. Following re-issue of Environmental licence and its approval by the Mining Authority, Raiden’s near-term objectives at Crixás: • Execute an initial drilling program to deliver a JORC MRE, • Fast-track metallurgical evaluation todefinethepreferred processingroute, with a focuson simplegravity andpotentially flotation routes, and Progression to a Final Investment Decision (FID) based on both of the above. On 15 June 2026, Raiden advised that engagement with SEMAD, the competent state environmental authority, had remained ongoing as part of the environmental permit re-issue process. The outstanding item under SEMAD requests related to the preparationof a water managementplan.Raidenadvisedthattherelevantwork hadbeen completedandthefinal reporthas been prepared, which was expected to besubmitted to SEMADin thecoming days. Following theend of theReporting Period, on 22 July 2026, Raiden advised that SEMAD had requested an additional Environmental Impact Statement (EIS) report relating to the proposed water management plan. 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). Referencesto historical mining, sampling, production and tailings characteristics are based on historical and vendor-supplied information, including a technical report completed in 2010 by GéoExpl’Au International, which wasnot preparedin accordance withthe 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 30 June 2026 6 Exploration Activities in Europe Vuzel Gold Project During the Reporting Period, Raiden advanced exploration work at the Vuzel Gold Project in south-eastern Bulgaria. The type of geology and setting at Vuzel is similar to that of the epithermal low sulphidation Ada Tepe deposit, which was mined by Dundee Precious Metals only 30km south-east of Vuzel (Figure3) (TSX: DPM). Vuzel is located <20km from Gorubso-Kardzhali A.D. (a BulgarianMiningcompany)goldprocessingfacility2 ,whomisalsoa30%partnerof TSX-VVelocityMineralswhoseBulgarian portfolio, including the Rozino deposit (573Koz@0.8g/t Au) was recently subject of a US$59M3 acquisition by Türker Mining, a subsidiary of the Turkish conglomerate Türkerler Holding. Figure 3 - Location of Vuzel project in Southern Bulgaria in relation to other operating and historical mine and prospects. On 1 July 2025,4 Raiden announced that assay results from a further 4 holes have beenreceived from the Phase 2 drilling program, with all holes drilled and reported continuing to intersect near surface gold mineralisation. Significant gold intersections from the 4 holes included (Figure 4): • VZ2525: 13.6m @ 0.58g/t from 19.4m o Including 5.0m @ 1.30g/t Au from 21.0m • VZ2526: 5.1m @ 0.76g/t Au from 20.9m • VZ2527: 17.3m @ 0.93g/t Au from 43.0m o Including 1.6m @ 7.69g/t Au from 58.7m • VZ2528: 10.0m @ 1.03g/t Au from 15.5m And 11.0m @ 0.98g/t Au from 30.5m Drill hole VZ2527 intersected a high-grade feeder structure, with 1.6m @ 7.69g/t Au at 58.7m within an interpreted epithermal feeder structurepreviously identified.5 The results achieved continued to suggest that Vuzel may host a substantial near-surface gold system, characterised by both widespread mineralisation and potentially multiple high-grade feeder zones. Raiden Resources Limited Directors' report 30 June 2026 7 Figure 4: Long section indicating the interpretedbreccia zone,which is interpretedto be an epithermal feederstructure and a potential pathway for mineralised fluids.6 On 14 August 2025,7 Raiden provided an update on its exploration activities at Vuzel, including progress on permitting for the nearby silver anomaly and theprocessing of Induced Polarisation (“IP”) survey results. Raiden advised that ithad applied for access permits, with the plan to drill test the previously identified Silver Anomaly at the Vuzel Exploration Permit (Figure 5). Figure 5: Vuzel Exploration permit, structures, exploration targets, including the nearby Skarn Ag Anomaly and drilling (as of 1st July 2025).8 Further, Raiden advised that it had completed a 10 line-km IP survey acrosstheVuzel Project area. Following theprocessing of the survey, theresults wereexpected to providea clearer understanding of thestructural trendsand potentialfeeder zones along the target area. Raiden Resources Limited Directors' report 30 June 2026 8 On 22 September 2025,9 Raiden announced that theIP survey had defined multipleuntested structuraltrendsat theVuzel Project. Further, the IP survey has also defined new chargeability and resistivity anomalies which were consistent with Raiden’s posit ive drilling results to date. The anomalies delineated new exploration target areas (Figure6) and significantly expanded the footprint for further evaluation of gold and silver mineralisation. Further, initial interpretations indicated thepotential for multiplenorth & north-west trending gold vectors/trends, which correlatewith interpreted potential feeder structures (Figure7), soil geochemistry anomalies and positive drill results. Figure 6: Vuzel Exploration project depicting the potential drilling targets as defined on the basis of the IP program and supporting data. Figure 7 - IP cross section line 5, with interpreted geological units; structures, mineralisation as defined through drilling and supporting surface anomalism. Raiden Resources Limited Directors' report 30 June 2026 9 On 11 May 2026,10 Raiden announced thatsoilsampling and geological mapping haddefined a multi-kilometrearsenic in soil trend across thesouthern and western areas at Vuzel, extending theexploration potential well beyondthecurrentlydrilled central zone. The new arsenic-in-soil anomalismis closely associated with similar gold anomalism, wherepositivedrill resultswithin thecentral part of the Project that have been achieved to date. The defined arsenic anomalies are: • Significantly more intense than the arsenic anomalism associated with currently defined gold mineralisation. • Associated with interpreted new thrust faults and structural features, which are considered prospective for potential vertical feeder zones (Figure 8). Figure 8: Map of Vuzel project area and anomalies defined to date. Note 1 – Central project area defined by historical artisanal mining, closely correlated gold in soil anomalies and positive drill results is characterised by arsenic in soil anomalism (20 – 100ppm). Note 2 – Historical silver anomaly,which is defined by an Ag-in-soilanomaly,where historical drilling and outcrop sampling has confirmed high-grade silver mineralisation, is also associated with an arsenic in soil anomaly (100 – 300 ppm). Note 3 – a significant arsenic in soil anomaly extending over an approximate 1-kilometre strike, which remains untested for gold mineralisation to date (>300ppm). In addition, Raiden provided an update on its permitting procedures over the historically defined silver anomalies at the Vuz el project. The initial permitting strategy comprised a number of proposed drill pad locations situated on municipality -owned land parcels. These initial applications were declined, as the relevant land parcels are currently subject to temporary third party lease arrangements for alternativeland-usepurposes. In response, Raiden re-initiated thepermitting process over alternative, suitable land parcels that are not presently under lease and fall under management of the Bulgarian Forestry Department. Raiden anticipates updating the market on the status of these permit applications in due course. *Note: The arsenic-in-soil results are based on field portable XRF analysis and should be considered indicative geochemical results suitable for early-stage anomaly definition and target generation. No new gold or silver assay results are reported. Follow-up work, including additional geochemical sampling and/or laboratory analysis where appropriate, is planned to assess whether the newly defined arsenic anomalies are associated with gold mineralisation. Raiden Resources Limited Directors' report 30 June 2026 10 Exploration Activities in Western Australia Mt Sholl During the Reporting Period, several significant corporatedevelopments relating to the Mt Sholl Ni-Cu-PGE (“Mt Sholl”) project transpired. Mt Sholl is a significant, outcropping Ni-Cu-PGE sulphidedeposit with potential for open-pit mining. located in thePilbara region, just 22 km from the support city of Karratha. The project’s proximity to Karratha, associated infrastructure, and thenear surface, high grade mineralisation are all considered positive factors supporting the development potential of the Project. The Mt Sholl Project hosts a significant JORC mineral resource of 40Mt @ 0.45% Ni_Eq (or 1.17% Cu_Eq (at 0.15% Ni_Eq cut-off), with a high-grade component of 5.8Mt @ 0.94% Ni_Eq / 2.48% Cu_Eq (at 0.70% Ni_Eq cut-off). 11 Figure 9: Mt Sholl Ni-Cu-PGE Project. On 3 July 2025, Raiden advised that it had received an Intent to Withdraw Notice First Quantum Minerals in relation to the Memorandum of Understanding (“MOU”), which granted First Quantum Minerals optional rights12 to the Mt Sholl Project. As a result of the withdrawal, Raiden moved to 100% ownership and assumed operational control of the Project. As part of the withdrawal, Raiden advised that it would receive a further A$135,000in cash to account for the 534m shortfall in drilling meters from FirstQuantumMineral’s 3,000mcommitment(Stage1), totaling A$385,000in cash received by Raiden as part of the MOU. Further, Raiden advised it would receive the benefit & ownership of all work completed by First Quantum Minerals under the MOU. This work included: • ~2,466m of drilling • Field mapping and soil sampling programs, • Heritage surveys, • Multiple geophysical surveys, • Engineering evaluation studies, and, • Thediscoveryof theKeel prospect,which hadextended thearea of knownmineralisationoutsideoftheMineralResource Estimate.13,14 • Circa A$2m was spent on the project by First Quantum Minerals on the project. Raiden Resources Limited Directors' report 30 June 2026 11 On 9 June 2026, Raiden announce that it had entered into a binding Option and Sale and Purchase Agreement (“Option Agreement”) with Forgent PLC (“Forgent”) (LSE: FORG.L) in respect of thepotential saleof an 80% interest in theMt Sholl Project. Under the Option Agreement, Forgent has been granted the right to acquire an 80% interest in the Project within a five-month period, subject to satisfaction of customary conditions including regulatory approvals. The proposed transaction delivers the following benefits to Raiden: • Strengthens theCompany’s financial position by an additional net A$1millioncash paymenton exerciseof the Option by Forgent, • Reduces holding and management costs associated with non-core assets, • Retains exposure to Mt Sholl underlying commodities (nickel, copper, PGEs) via: o A 20% free-carried interest through A$4 million of expenditure; and o Equity exposure to Forgent through shareconsideration, with Raiden to receive A$40,000of Forgent shares at 0.015 penceper share, as well as an additional net A$900,000of Forgent shares on exerciseof theOption (based on 10-day VWAP at exercise), and • Enables continued focus on priority assets including the Crixás Gold Tailings Project and new acquisition opportunities. To facilitatethe transaction with Forgent, Raiden advised that it had also entered into a Deed of Variation to amend theHeads of Agreement with Welcome Exploration Pty Ltd (“Welcome”), the previous owner of Mt Sholl. Under the variation, Welcome has agreed to waive certain rights, including: • A$5 million payment linked to a decision to mine, and • 20% free-carried gold interest. In consideration, Welcome will receive A$200k in Forgent shares and A$100k in cash (representing a portion of Raiden’s consideration from thetransaction). Welcome’s consideration willbecomepayableby Raiden only upon exerciseof theoption and receipt of the consideration from Forgent. If the option is not exercised by Forgent, the variation deed will lapse and no consideration will be payable to Welcome. The transaction is consistentwith Raiden’s strategyof pursuing joint ventures, divestmentsand sales across its non-coreassets to reduce holding and management costs, lower project expenditure requirements and supplement the Company’s strong cash position. Corporate activities As disclosed in the Company’s strategy update, Raiden continues to evaluatedivestment and joint ventureproposals on the non- core assets held within its portfolio, which havetheprospect of further enhancing the Company’s robustcash reserves, as well as decreasing funding requirements and management time. During and following the reporting period, Raiden continued to focus on new potential acquisitions. As previously announced, Raiden notes that the Crixás Gold Tailings Project is not intended to be the Company’s sole or final acquisition. Proposed acquisitions continueto beassessed for value accretion on a per-share-basis, with careful consideration of funding mix, potential dilution and associated risks. ASX Announcements referenced in this report 1 Refer to ASX release, “Significant Gold Tailings Reprocessing Opportunity Secured”, 20 November 2025 2 https://velocityminerals.com/projects/overview/ 3 TSXV: VLC 28 February 2025 Velocity Enters into Definitive Agreement to Sell All Bulgarian Assets 4 Refer to ASX release, “High-Grade Feeder Zone intersected at Vuzel Gold Project, 1 July 2025 5 Refer to ASX release, “Potential epithermal feeder zone intersected at Vuzel”, 19 June 2025 6 Refer to ASX release, “High-Grade Feeder Zone Intersected at Vuzel Gold Project”, 1 July 2025 7 Refer to ASX release, “Silver Anomaly Permit Progressing & IP Data Processing at Vuzel”, 14 August 2025 8 Refer to ASX release, “High-Grade Feeder Zone Intersected at Vuzel Gold Project”, 1 July 2025 9 Refer to ASX release, “Vuzel IP Survey Generates Multiple Untested Gold & Silver Targets”, 22 September 2025 10 Refer to ASX release, “New Multi-Kilometre Tends Expands Vuzel Gold Potential”, 11 May 2026 11 Refer to ASX release, “Maiden Mineral Resource Estimate & JORC Exploration Target” 3 April 2023 12 Refer to ASX release, “Raiden Enters Into A Memorandum of Understanding Over Mt Sholl Ni-Cu-PGE Project”, 13 December 2023 13 Refer to ASX release, “New Discovery and Extensions to Ni-Cu Mineralisation at Mt Sholl”, 27 February 2025 14 Refer to ASX release, “Maiden Mineral Resource Estimate & JORC Exploration Target” 3 April 2023 Raiden Resources Limited Directors' report 30 June 2026 12 v. Business Risks The Board seeks to ensure that the process of risk identification, assessmentand management is embedded in all aspects of the Group’s operations, and it monitors whether the level of compliance and governance within the Group is appropriate, with a particular focus on therisk cultureand risk reporting. Therearea number of material risks to which theGroup is exposed, and the key material business risks are, in summary: Future capital requirements The Company has no operating revenueand is unlikely to generateany operating revenueunless and until theCompany’sprojects are successfully explored, evaluated, developed and production commences. Thefuturecapital requirements of theCompanywill depend on many factors including its business development activities. In order to successfully evaluate and develop the projects and for production to commence, the Company will require further financing in the future. Any additional equity financing may be dilutiveto Shareholders, may be undertaken at lower prices t han the then market price or may involve restrictive covenants which limit the Company's operations and business strategy. Debt financing, if available, may involve restrictions on financing and operating activities. Although the Directors believe that additional capital can be obtained, no assurances can be made that appropriate capital or funding, if and when needed, will be availableon terms favourableto the Company or at all. If the Company is unable to obtain additional financing as needed, it may berequired to reducethescopeof its activities and thiscould havea material adverse effect on the Company's activities including resulting in thetenements being subject to forfeitureand could affect theCompany's ability to continue as a going concern. Operations risks The operations of the Company may be affected by various factors, including: (i) failure to locate or identify mineral deposits; (ii) failureto achieveeconomic grades in exploration and forecastmodelled grades, quantities and recoveriesduringmining; (iii) operational and technical difficulties encountered in mining; (iv) insufficient or unreliable infrastructure (such as power, water and transport); (v) difficulties in commissioning and operating plant and equipment; (vi) mechanical failure or plant breakdown; (vii) unanticipated metallurgical problems which may affect extraction costs; (viii) adverse weather conditions; and (ix) community and non-governmental organisation activities hindering operations. In the event that any of these potential risks eventuate, the Company's operational and financial performancemay be adversely affected. Government regulation and political risk in the mining industry The Company’s operating activities are subject to laws and regulations governing expropriation of property, health and worker safety,employmentstandards,wastedisposal,protectionoftheenvironment,minedevelopment,landandwateruse,prospecting, mineral production, exports, taxes, labour standards, occupational health standards, toxic wastes, the protection of endangered and protected species and other matters. While the Company believes that its local and foreign incorporated subsidiaries are in substantial compliance with all material current laws and regulations affecting its activities, futurechanges in applicablelaws, regulations, agreements or changes in their enforcement or regulatory interpretation could result in changes in legal requirements or in the terms of existing permits and agreements applicable to the Group or its properties, which could have a material adverse impact on the Company's current operations or planned development projects. Failureto complystrictlywithapplicablelaws,regulationsandlocalpracticesrelating tomineralrightapplicationandtenure, could result in loss, reduction or expropriation of entitlements, or the impositionof additional local or foreign parties as joint venture partners with carried or other interests. Theoccurrenceof these various factors and uncertainties cannot beaccurately predicted and could have an adverse effect on the Company's operations or profitability. Raiden Resources Limited Directors' report 30 June 2026 13 Where required, obtaining necessary permits and licenses can bea complex, timeconsuming processand theCompanycannot be sure whether any necessary permits will be obtainableon acceptable terms, in a timely manner or at all. The costs and delays associated with obtaining necessary permits and complying with thesepermits and applicablelaws and regulations could stop or materially delay or restrict theGroup from proceedingwith any futureexploration or developmentof its properties. Any failureto comply with applicablelaws and regulations or permits, even if inadvertent, could result in interruption or closureof exploration, development or mining operations or material fines, penalties or other liabilities. Tenure, access and grant of applications The Group's operations aresubject to receiving and maintaining licenses and permits from appropriategovernmental authorities. Prior to any development on any of its properties, the Group’s must receive licenses/permits from appropriate governmental authorities. There is no certainty that the Group will continue to hold all licenses/permits necessary to develop or continue operating at any particular property. Tenements are subject to the applicable mining acts and regulations in Western Australia, Serbia and Bulgaria. The Company is required to comply with land access laws, water rights acts, and environmental, and cultural laws amongothers. Compliancewith these requirements appear manageablewith consultation with therespectiveparties and government officials however, there is a risk that for an unforeseen reason, the Company may not be granted the required licence or permits to carry out the proposed works, which could lead to unforeseen delays or changes to proposed work programs, thus having theability to materiallyimpact upon the Company's operations and financial circumstances. Under mining law within the various jurisdictionsthat theCompany operates within, an exploration licence can be revoked upon theoccurrence of specified events that arenot remedied within prescribed periods. Such events includebut arenot limited to not conducting exploration activities in accordance with the approved programme, conducting exploration activities outside of the permit area, failing to submit annual reports, failing to undertake adequate rehabilitation works and failing to comply with occupational health and safety laws. Drilling and exploration programs There are operational risks associated with theGroup's drilling and exploration programs. TheGroup’s exploration programs may beaffected by a rangeof factors, including (but not limited to): geologicaland groundaccess conditions; unanticipated operational and technical difficulties encountered in sampling and drilling activities; adverseweather conditions, environmental accidents, and unexpected shortages or increases in thecosts of consumables, spareparts, and labour;mechanical failureof operating plant and equipment; prevention of access by reason of political or civil unrest, outbreak of hostilities, outbreak of disease or inability to obtain regulatory consents or approvals; terms imposed by government on development of mining projects including conditions such as equity participation, royalty rates and taxes; and risks of default or non-performanceby third parties providing essential services. Exploration success Mineral exploration and project development are high risk undertakings. There can be no assurance that further exploration on the Group's projects will result in the discovery of an economic ore deposit. Even if an apparently viable deposit is identified, thereis no guaranteethat it can be economically exploited. Until theGroup is able to realise value from its mineral projects, it is likely to incur ongoing operating losses. Environmental and cultural The operations of the Group are subject to laws and regulations concerning the environment. As with most exploration projects and mining operations, the Group's activities are expected to have an impact on the environment, particularly if advanced exploration or minedevelopment proceeds. TheGroup intention to conduct its activities to thehigheststandard of environmental obligation, including compliance with all environmental laws and regulations. Raiden Resources Limited Directors' report 30 June 2026 14 Mining operations have inherent risks and liabilities associated with safety and damage