Aspire Mining (AKM) investor relations material

Executive summary

• Focused on advancing the Ovoot Coking Coal Project (OCCP) through design, permitting, and infrastructure development, including the Coal Handling and Preparation Plant (CHPP) and Erdenet Rail Terminal (ERT).

• Progressed the Murun-Uliastai Highway Project under Mongolia's PPP framework and secured additional land-use permits and supporting infrastructure for OCCP.

• Engaged in community relations, recruitment, and local sponsorships in Khuvsgul aimag.

Financial highlights

• Net loss attributable to owners for the half-year ended 30 June 2026 was $3,458,131, a significant improvement from a $9,570,530 loss in the prior year period.

• Losses were primarily driven by non-cash unrealised foreign exchange losses due to AUD appreciation against USD on intercompany balances.

• Cash and cash equivalents at 30 June 2026 were $2,503,355, down from $5,041,262 at 31 December 2025.

• Working capital stood at $5,991,131 and net assets at $38,401,387 as of 30 June 2026.

• Used $1,050,247 in operating cash, $635,300 for exploration and evaluation, and $876,189 for property, plant, and equipment in the half-year.

Outlook and guidance

• Additional funding is required to meet OCCP’s full capital infrastructure needs; prepayment facilities from potential offtakers are targeted.

• The Group is confident in securing requisite funding through a combination of debt, pre-sale of coal, and equity if needed.

• Plans to reduce expenditure if funding is not achieved, but material uncertainty remains regarding going concern.