Annual report
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Green360 Technologies Limited Corporate Directory 30 June 2026 2 Corporate Directory Directors Aaron Banks Mark Pensabene Peter Trinder Darren Hedley Nicholas Anderson Company secretary Andrew Taylor Chris Achurch Registered office Level 1 105 St Georges Tce Perth WA 6000 Phone: (08) 9389 4495 Principal place of business 3610 Glenelg Hwy Pittong VIC 3360 Phone: (03) 5344 6688 Share registry Automic Registry Services Pty Ltd Level 5 191 St Georges Terrace Perth WA 6000 Phone: 1300 288 664 Auditors RSM Australia Partners Level 32 2 The Esplanade Perth WA 6000 Phone: (08) 9261 9100 Solicitors Hamilton Locke Level 39 152-158 St Georges Terrace Perth WA 6000 Phone: (08) 6311 9160 Stock exchange listing Green360 Technologies Limited’s shares are listed on the Australian Securities Exchange (ASX code: GT3) Website www.g360tech.au Corporate Governance Statement www.g360tech.au/corporate-governance/
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Green360 Technologies Limited Chair’s Letter 30 June 2026 3 Chair’s Letter Dear Shareholders, The past year has been one of the most important in Green360 Technologies’ history. Over this period, we have continued the Company’s transition from a traditional industrial minerals producer into an Australian building materials company focused on helping solve a growing and unavoidable challenge facing the concrete industry. Supplementary cementitious materials such as fly ash, slag and silica fume are critical to the cost, durability and embodied carbon of modern concrete. However, the closure of coal-fired power stations, changes in steelmaking and Australia’s reliance on imported materials are creating a structural supply shortage. Every tonne removed from the market will ultimately need to be replaced. G360 is now commercially positioned to be part of that replacement supply chain. During the year, we launched the MKX product platform and progressed from product development and technical validation into commercial-scale production and supply. We entered into a binding toll-treatment agreement with Calix Limited, providing access to up to 30,000 tonnes per annum of calcining capacity at Bacchus Marsh and allowing us to enter the market without first carrying the cost or construction lead time of our own facility. Commercial production has commenced, standard pneumatic-tanker logistics have been successfully demonstrated and MKX has now been delivered to concrete batching plants across Melbourne. Importantly, MKX has moved beyond laboratory testing. It has been incorporated into large -scale concrete pours associated with major Victorian infrastructure and commercial projects, with more than 3,500 cubic metres of concrete containing MKX placed to date. This real-world use has demonstrated the performance, consistency and practicality required for adoption by the concrete industry. The Company also secured its first binding commercial supply agreement with Holcim Australia for up to 4,8 00 tonnes of MKX-CC over an initial 12-month period. Validation from one of the world’s largest building materials companies represents an important milestone and confirms that MKX is progressing from an emerging technology into a genuine commercial building material. Alongside this progress, we have continued to strengthen our established Pittong operation. Traditional kaolin sales improved during the last quarter of the year, customer pricing was reviewed and significant operating efficiencies were implemented. Approximately $1.6 million in annualised fixed cash costs was removed from the business, providing a stronger financial foundation as we enter the next stage of growth. We have also deepened our engagement with concrete producers, contractors, technical specialists and Victorian Government infrastructure-delivery bodies. This engagement is important because creating a new domestic SCM supply chain requires more than simpl y manufacturing a product. It requires technical acceptance, demonstrated performance, reliable logistics and confidence from the organisations that design, specify and build Australia’s infrastructure. Over the coming year, our focus will remain firmly on commercial execution. We intend to continue converting customer trials and discussions into commercial supply arrangements, progressively utilise the production capacity available through Calix and complete the scoping work for a purpose-built calcining facility at Pittong. This stage-gated approach allows G360 to establish demand using existing infrastructure before committing capital to larger- scale production. Our objective is clear: to establish MKX as a mainstream, cost -effective Australian -made replacement for the traditional cement-replacement materials that are becoming increasingly constrained. There remains considerable work ahead, but G360 enters the new financial year with an operating mine and processing facility, established revenue, substantial long-life kaolin resources, commercial production capability, demonstrated end-user performance and its first binding agreement with a global industry leader. These achievements are the result of an enormous effort by our employees, management team, Board, technical advisers, customers and industry partners. On behalf of the Board, I thank them for their commitment and determination throughout the year.
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Green360 Technologies Limited Chair’s Letter 30 June 2026 4 I also thank our shareholders for their continued support. We believe the progress achieved during the past year has established a substantially stronger platform from which G360 can pursue the significant opportunity now emerging in Australia’s building-materials market. Aaron Banks Executive Chairman Green360 Technologies Limited
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Green360 Technologies Limited Directors’ Report 30 June 2026 5 Directors’ Report The Directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'Group') consisting of Green360 Technologies Limited (referred to hereafter as the 'G360' or the 'Company') and the entities it controlled at the end of, or during, the year ended 30 June 2026. Directors The following persons were Directors of G360 during the whole of the financial year and up to the date of this report, unless otherwise stated: Mr Aaron Banks Executive Chairman Mr Mark Pensabene Non-Executive Director Mr Peter Trinder Non-Executive Director Mr Darren Hedley Non-Executive Director (appointed 6 August 2025) Mr Nicholas Anderson Non-Executive Director (appointed 1 January 2026) Principal activities The principal activities of the Group during the period were refined kaolin production in Victoria and commercialisation of lower carbon cement and concrete products. Review of operations During the financial year ended 30 June 2026, the Company generated $11.5 million in revenue and recognised a gross loss from operations of $0.38 million. Sales were impacted by lower demand from a large domestic customer during the middle of the financial year. Management took steps to improve the profitability of the Company in the second half of FY2026 by implementing revised pricing of products effective 1 July 2026, contracting a large customer onto a take-or-pay arrangement and removing approximately $1.6 million of fixed cash costs from the business. The benefit of these decisions is expected to be realised over the course of FY2027. During the period, the Company made significant progress in the commercialisation of its low carbon partial cement replacement product, known as MKX (Metakaolin X). The Company entered into a toll treatment agreement with Calix Limited (ASX:CXL) to toll tr eat up to 30,000 tonnes p.a. of kaolin from the Company’s Pittong operation for use in the Melbourne concrete market. Commercial production runs were completed during the financial year with over 600 tonnes of finished product being manufactured for large scale commercial trials. The Company also successfully integrated into existing industry logistics, a critical hurdle enabling large scale uptake with no capital requirements for customers. The Calix toll treatment agreement enables the Company to build a market for MKX with immediate production capacity and minimal capital outlay. Once sufficient demand is created utilising this facility, the Company intends to construct its own calcining and production plant to realise production cost efficiencies. Subsequent to the end of the financial year, the Company successfully commercialised MKX, executing a sales agreement with Holcim (Australia) Pty Ltd, one of the world’s largest construction materials companies. The agreement provides for the sale of up to 4,800 tonnes per annum of MKX to be delivered into the Melbourne concrete market. Over 3,500 cubic metres of concrete utilising MKX have now been placed into large-scale infrastructure projects in Melbourne including the Eastern Freeway Extension, Suburban Rail Loop and Melbourne Airport Business Park.
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Green360 Technologies Limited Directors’ Report 30 June 2026 6 Directors’ Report Significant changes in the state of affairs There were no significant changes in the state of affairs of the Group during the financial year. Matters subsequent to the end of the financial year On 23 July 2026, the Company announced the successful commercialisation of its low -carbon partial cement replacement product, known as MKX, via a binding supply agreement with global construction materials company Holcim (Australia) Pty Ltd. Under the bind ing agreement, the Company will supply up to 4,800 tonnes per year of MKX -CC (Calcined Clay) to Holcim’s Victorian operations during an initial 12-month supply agreement at a fixed price per tonne. Apart from matters discussed above, no other matter or circumstance has arisen since 30 June 2026 that has significantly affected, or may significantly affect the Group's operations, the results of those operations, or the Group's state of affair s in future financial years. Likely developments and expected results of operations The Group intends to continue its exploration, development, commercialisation and production activities on its existing operations and projects and to acquire further suitable projects as opportunities arise. Material business risks Development and commercialisation of the Company’s technology The success of the Company will depend upon the Company’s ability to further develop and commercialise its technology and intellectual property. A failure to successfully develop and commercialise the technology could lead to a loss of opportunities and adversely impact the Company’s operating results and financial position. Intellectual Property The success of the Company, in part, depends on its continued ability to protect its intellectual property and use any trademarks to increase brand awareness. The Company will depend on its intellectual property to protect its brand and trade secrets, and any pending patents on its products and production processes. In the event the Company is unable to protect its intellectual property adequately, the value of the Company’s products and brands could be adversely affected. This may further impact the overall business, with respect to its financial position and overall profitability and operational output. Exploration and development The Company’s mining tenements are at various stages of exploration, and potential investors should understand that mineral exploration and development are high -risk undertakings. There can be no assurance that future exploration of these tenements, or any other mineral tenements that may be acquired in the future, will result in the discovery of an economic resource. Even where an apparently viable resource is identified, there is no guarantee that it can be economically exploited. Staffing and reliance on key management The Company relies on the experience and knowledge of key members of its staff. In the event that key personnel leave and the Company is unable to recruit suitable replacements, such loss could have a materially adverse effect on the Company. Capital and funding requirements The Company is not yet at the stage where it is generating positive cash flows at the group level. Further, no assurance can be given that the Company will become profitable in the future. Accordingly, the Company may require additional equity or debt funding in the short, medium or long term. The ability of the Company to access funding is never certain and is dependent on a multitude of factors, including the macro-economic conditions in Australia and overseas. Environmental regulation The Group is subject to and is compliant with all aspects of environmental regulation of its exploration and mining activities. The Directors are not aware of any environmental law that is not being complied with.
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Green360 Technologies Limited Directors’ Report 30 June 2026 7 Directors’ Report Production, operations and supply chain G360 aims to have reliable operational performance to allow it to deliver on its operational objectives and satisfy its obligations to customers, regulators and communities. Supply chains have an influence on the way the Company operates and the results it generates. The Company relies on various key customers, supplier relationships and contractors to conduct various aspects of its operations. Demand, product pricing and offtake agreements G360 continues to build relationships with its customers and has underpinned its production with geographically diverse offtake agreements with various pricing mechanisms. Environment, climate change and natural events G360’s hydrous kaolin operational activities have the potential to impact the environment and require proactive management to minimise any potential impact to water resources, air quality and biodiversity. Climate change has the potential to impact the fre quency, intensity, and likelihood of extreme events that could impact people’s safety, wellbeing, security and key operating infrastructure. Future growth opportunities G360 endeavours to improve its return on investments and create shareholder value by carefully evaluating organic and inorganic growth and investment opportunities. The Company expects this risk may increase with the increased likelihood of growth and investment opportunities. Information on directors Name: Aaron Banks Title: Executive Chairman Experience and expertise: Aaron Banks is a specialist business consultant with over 20 years’ experience in contract negotiations and business development including senior roles in sales, marketing and construction management. In 2015 as founder and Managing Director of Australian Silica Pty Ltd, Mr Banks discovered one of the largest high grade silica sand resources in the world. Whilst on the Board of Australian Silica he successfully negotiated the sale of the Muchea Silica Sand Project to Ventnor Resources Limited which pivoted the former base metals explorer to the emerging silica sand producer known today as VRX Silica Limited (ASX:VRX). In 2020 he vended his private companies into what is Green360 Technologies Limited today. Aaron has an extensive background in industrial minerals and has focused on developing emerging assets globally. Other current directorships: None Former directorships (last 3 years): None Special responsibilities: None Interests in shares: 83,660,225 Interests in options: None Interests in performance rights: 47,000,000 Name: Mark Pensabene Title: Non-Executive Director Experience and expertise: Mark Pensabene holds Bachelor of Engineering and Commerce degrees from the University of Western Australia and has over 20 years of operational and management experience in the engineering and construction sectors. Mark spent 18 years with ASX- 200 Company, Monadelphous Group, where he held a number of general manager roles. Most recently, Mark was the Executive General Manager & Chief Operating Officer at Primero Group, a subsidiary of ASX -listed NRW Holdings, a company specialising in the provision of EPC services in the Western Australian and North American mining sectors. Other current directorships: None Former directorships (last 3 years): None Special responsibilities: None Interests in shares: 2,166,694 Interests in options: None Interests in performance rights: 5,400,000
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Green360 Technologies Limited Directors’ Report 30 June 2026 8 Directors’ Report Name: Peter Trinder Title: Non-Executive Director (appointed 25 November 2024) Experience and expertise Peter Trinder has over 45 years’ experience in concrete technology focusing on long term performance of concrete structures and the design for durability. Mr Trinder commenced his career in 1978 and has worked in a variety of positions including concrete b atch plant manager, site engineer, specialist materials consultant and concrete repair contractor. More recently, Peter consults as an independent advisor on issues related to improving the quality of construction in major infrastructure projects. Other current directorships: None Former directorships (last 3 years): None Special responsibilities: None Interests in shares: 920,000 Interests in options: None Interests in performance rights: 5,400,000 Name: Darren Hedley Title: Non-Executive Director (appointed 6 August 2025) Experience and expertise Darren Hedley has over 35 years of executive leadership experience across diverse sectors including maritime services, oil and gas, infrastructure facilities management, and construction. Mr Hedley holds a Master Mariner credential, an MBA, and multiple accreditations in data science, design thinking, and gamification. He is currently Chief Executive Officer of Permacast, Western Australia’s largest precast concrete manufacturer and a joint venture partner to Green360 Technologies Limited. Other current directorships: None Former directorships (last 3 years): None Special responsibilities: None Interests in shares: 600,000 Interests in options: None Interests in performance rights: 5,400,000 Name: Nicholas Anderson Title: Non-Executive Director (appointed 1 January 2026) Experience and expertise: Mr Anderson is a chemical engineer and accomplished executive leader with a track record of building and scaling businesses in mining and mining services. Mr Anderson brings extensive experience in capital markets and mergers and acquisitions. Mr Anderson is a graduate of the Australian Institute of Company Directors and is currently Managing Director and CEO of Golden Horse Minerals Ltd (ASX: GHM). Other current directorships: Managing Director of Golden Horse Minerals Ltd (since June 2024) Former directorships (last 3 years): None Special responsibilities: None Interests in shares: 2,964,000 Interests in options: None Interests in performance rights: 5,400,000
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Green360 Technologies Limited Directors’ Report 30 June 2026 9 Directors’ Report 'Other current directorships' quoted above are current directorships for listed entities only and excludes directorships of all other types of entities, unless otherwise stated. 'Former directorships (last 3 years)' quoted above are directorships held in the last 3 years for listed entities only and excludes directorships of all other types of entities, unless otherwise stated. Company secretary Andrew Taylor holds the position of Chief Financial Officer and Joint Company Secretary. Chris Achurch holds the position of Joint Company Secretary. Mr Achurch provides company secretarial, corporate advisory and general consulting services to a number of ASX listed companies.
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Green360 Technologies Limited Directors’ Report 30 June 2026 10 Directors’ Report Meetings of directors The number of meetings of the Company's Board of Directors ('the Board') and of each Board committee held during the year ended 30 June 2026, and the number of meetings attended by each director were: Full board Nomination and Remuneration Committee1 Audit and Risk Committee1 Attended Held Attended Held Attended Held Aaron Banks 3 3 - - - - Mark Pensabene 3 3 - - - - Peter Trinder 3 3 - - - - Darren Hedley 2 3 - - - - Nicholas Anderson 2 2 - - - - 1 Refer to Company’s Corporate Governance statement. Held: represents the number of meetings held during the time the Director held office or was a member of the relevant committee. Remuneration report (audited) The remuneration report details the key management personnel remuneration arrangements for the Group, in accordance with the requirements of the Corporations Act 2001 and its Regulations. Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including all Directors. The remuneration report is set out under the following main headings: ● Principles used to determine the nature and amount of remuneration ● Details of remuneration ● Service agreements ● Share-based compensation ● Additional information ● Additional disclosures relating to key management personnel Principles used to determine the nature and amount of remuneration The Board of Directors ('the Board') ensures that executive reward satisfies the following key criteria for good reward governance practices: ● competitiveness and reasonableness ● acceptability to shareholders ● performance linkage / alignment of executive compensation ● transparency The Board is responsible for determining and reviewing remuneration arrangements for its directors and executives. The performance of the Group depends on the quality of its directors and executives. The remuneration philosophy is to attract, motivate and retain high performance and high-quality personnel. In accordance with best practice corporate governance, the structure of non -executive director and executive director remuneration is separate. Non-executive directors’ remuneration Fees and payments to non-executive directors reflect the demands and responsibilities of their role. Non-executive directors' fees and payments are reviewed annually by the Board. The chairman's fees are determined independently to the fees of other non -executive directors based on comparative roles in the external market. The chairman is not present at any discussions relating to the determination of his own remuneration. ASX listing rules require the aggregate non -executive directors' remuneration be determined periodically by a general meeting. The most recent determination was at the 2016 Annual General Meeting where the shareholders approved a maximum annual aggregate remuneration of $350,000.
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Green360 Technologies Limited Directors’ Report 30 June 2026 11 Directors’ Report Executive remuneration The Group aims to reward executives based on their position and responsibility, with a level and mix of remuneration which has both fixed and variable components. The executive remuneration has four components: ● base pay and non-monetary benefits ● short-term performance incentives ● share-based payments ● other remuneration such as superannuation and long service leave The combination of these comprises the executive's total remuneration. Fixed remuneration, consisting of base salary, superannuation and non -monetary benefits, are reviewed annually by the Board based on individual and business unit performance, the overall performance of the Group and comparable market remunerations. Executives may receive their fixed remuneration in the form of cash or other fringe benefits where it does not create any additional costs to the Group and provides additional value to the executive. The short-term incentives ('STI') program is designed to align the targets of the business units with the performance hurdles of executives. STI payments are granted to executives based on specific annual targets and key performance indicators ('KPI's') being achieved. The long-term incentives ('LTI') include share-based payments. Shares are awarded to executives over a period greater than one year based on long-term incentive measures. Use of remuneration consultants During the financial year ended 30 June 2026, the Group did not engage a remuneration consultant. Voting and comments made at the Company's 2025 Annual General Meeting ('AGM') At the 2025 AGM, 98.73% of the votes received supported the adoption of the remuneration report for the year ended 30 June 2025. The Company did not receive any specific feedback at the AGM regarding its remuneration practices.
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Green360 Technologies Limited Directors’ Report 30 June 2026 12 Directors’ Report Details of remuneration Amounts of remuneration Details of the remuneration of key management personnel of the Group are set out in the following tables. The key management personnel of the Group consisted of the following persons: ● Aaron Banks - Executive Chairman ● Mark Pensabene - Non-Executive Director ● Peter Trinder - Non-Executive Director ● Darren Hedley - Non-Executive Director (appointed 6 August 2025) ● Nicholas Anderson - Non-Executive Director (appointed 1 January 2026) ● Oliver Barnes - Non-Executive Director (resigned 25 November 2024) ● Bojan Bogunovic - Chief Executive Officer (resigned 31 October 2025) ● Andrew Taylor - Chief Financial Officer (appointed 16 December 2025) ● Hanno Van Der Merwe - Chief Operating Officer (resigned 15 May 2026) Short-term benefits Post- employm ent benefits Long-term benefits Share-based payments 2026 Cash salary Cash Super- Long service Equity- settled Equity- settled and fees bonus Other annuation leave shares Other4 Total Executive Directors: $ $ $ $ $ $ $ $ Aaron Banks 250,000 - - 30,000 - - (684,667) (404,667) Non-Executive Directors: Mark Pensabene 48,000 - - - - - 38,592 86,592 Peter Trinder 48,000 - - - - - 23,162 71,162 Darren Hedley1 38,710 - - 4,645 - - 23,162 66,517 Nicholas Anderson2 24,000 - - - 20,276 44,276 Other KMP: Bojan Bogunovic 177,939 - - 10,750 - - (154,496)3 34,193 Andrew Taylor 148,437 - - 17,545 - - 93,523 259,505 Hanno Van Der Merwe 286,169 - - 26,693 - - (29,982)3 282,880 1,021,255 - - 89,633 - - (670,430) 440,458 1 Appointed as Non-Executive Director on 6 August 2025 2 Appointed as Non-Executive Director on 1 January 2026. 3 Relates to performance rights forfeited due to cessation of employment 4 Equity settled performance rights
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Green360 Technologies Limited Directors’ Report 30 June 2026 13 Directors’ Report Short-term benefits Post- employment benefits Long-term benefits Share-based payments 2025 Cash salary Cash Super- Long service Equity- settled Equity- settled and fees bonus Other annuation leave shares Other5 Total Executive Directors: $ $ $ $ $ $ $ $ Aaron Banks 250,000 - - 28,750 - - 306,260 585,010 Non-Executive Directors: Mark Pensabene 48,000 - - - - - 18,765 66,765 Peter Trinder1 28,800 - - - - - - 28,800 Oliver Barnes2 67,200 - - - - - (38,639)3,4 28,561 Other KMP: Bojan Bogunovic 322,917 - - 29,932 - - 79,511 432,360 Hanno Van Der Merwe 296,493 - - 29,932 - - 50,045 376,470 1,013,410 - - 88,614 - - 415,942 1,517,966 1 Peter Trinder was appointed Non-Executive Director on 25 November 2024. 2 Oliver Barnes resigned as Non-Executive Director on 25 November 2024. 3 Relates to performance rights forfeited due to cessation of directorship. 4 Includes a $14,060 reversal in performance rights issued to ESG-F Holdings Pty Ltd, a related party of Oliver Barnes 5 Equity settled performance rights. The proportion of remuneration linked to performance and the fixed proportion are as follows: Fixed remuneration At risk - STI At risk - LTI Name 2026 2025 2026 2025 2026 2025 Executive Directors: Aaron Banks (69%) 48% - - 169% 52% Non-Executive Directors: Mark Pensabene 55% 72% - - 45% 28% Peter Trinder 67% 100% - - 33% - Darren Hedley 65% n/a - n/a 35% n/a Nicholas Anderson 54% n/a - n/a 46% n/a Oliver Barnes n/a 235%1 n/a - n/a (135%)1 Other KMP: Bojan Bogunovic (552%) 82% - - (452%) 18% Andrew Taylor 64% n/a - n/a 36% n/a Hanno Van Der Merwe 111% 87% - - (11%) 13% 1 Due to reversals of performance rights issued in prior years.
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Green360 Technologies Limited Directors’ Report 30 June 2026 14 Directors’ Report Service agreements Remuneration and other terms of employment for key management personnel are formalised in service agreements. Details of these agreements are as follows: Name: Aaron Banks Title: Executive Chairman Agreement commenced: 1 May 2024 Term of agreement: Open Details: Base salary of $250,000 plus superannuation guarantee. The salary will be reviewed annually by the Company in accordance with the policy of the Company for the annual review of salaries. 3-month termination notice by either party, the Company may at any time pay a cash bonus, non-solicitation and non-compete clauses. Name: Andrew Taylor Title: Chief Financial Officer & Joint Company Secretary Agreement commenced: 1 December 2025 Term of agreement: Open Details: Base salary of $285,000 including superannuation guarantee. The salary will be reviewed annually by the Company in accordance with the policy of the Company for the annual review of salaries. 3-month termination notice by either party, the Company may at any time pay a cash bonus, non-solicitation and non-compete clauses. Name: Bojan Bogunovic Title: Chief Executive Officer Agreement commenced: 31 October 2023 – resigned 31 October 2025 Term of agreement: Open Details: Base salary of $325,000 plus superannuation guarantee. The salary will be reviewed annually by the Company in accordance with the policy of the Company for the annual review of salaries. 3-month termination notice by either party, the Company may at any time pay a cash bonus, non-solicitation and non-compete clauses. Name: Hanno Van Der Merwe Title: Chief Operating Officer Agreement commenced: 1 December 2022 – resigned 15 May 2026 Term of agreement: Open Details: Base salary of $300,000 plus superannuation guarantee. The salary will be reviewed annually by the Company in accordance with the policy of the Company for the annual review of salaries. 5-week termination notice by either party, the Company may at any time pay a cash bonus, non-solicitation and non-compete clauses. Key management personnel have no entitlement to termination payments in the event of removal for misconduct.
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Green360 Technologies Limited Directors’ Report 30 June 2026 15 Directors’ Report Share-based compensation Performance rights During the year, 83,500,000 performance rights were issued to key management personnel. 16,500,000 performance rights convert into fully paid ordinary shares in the capital of the Company upon achievement of the following milestones: a. One third of the performance rights will convert into ordinary shares on a one-for-one basis upon the Company’s VWAP being at least $0.065 over 20 consecutive trading days on which the Company’s shares have actually traded, expiring 3 years after the date of issue. b. One third of the performance rights will convert into ordinary shares on a one-for-one basis upon the Company’s VWAP being at least $0.08 over 20 consecutive trading days on which the Company’s shares have actually traded, expiring 3 years after the date of issue. c. One third of the performance rights will convert into ordinary shares on a one-for-one basis upon the Company’s VWAP being at least $0.095 over 20 consecutive trading days on which the Company’s shares have actually traded, expiring 3 years after the date of issue. 67,000,000 performance rights convert into fully paid ordinary shares in the capital of the Company upon achievement of the following milestones: a. One fifth of the performance rights will convert into ordinary shares on a one -for-one basis upon the first Commercial Sale of Eco-Clay. b. One fifth of the performance rights will convert into ordinary shares on a one -for-one basis upon at least 10kt Sales of Eco-Clay in any rolling 12-month period. c. One fifth of the performance rights will convert into ordinary shares on a one -for-one basis upon at least 30kt Sales of Eco-Clay in any rolling 12-month period. d. One fifth of the performance rights will convert into ordinary shares on a one-for-one basis upon commissioning of own calcining facility to produce metakaolin. e. One fifth of the performance rights will convert into ordinary shares on a one-for-one basis upon first commercial tonnes produced at the Company’s own calcining facility. For the year ended 30 June 2026, a net reversal of expenses of $670,430 has been recognised in relation to the performance rights issued to Directors and other key management personnel. Additional information The earnings of the Group for the five years to 30 June 2026 are summarised below: 2026 2025 2024 2023 2022 2023 2022 2022 2021 $ $ $ $ $ $ $ $ $ Sales revenue 11,456,118 13,275,357 12,252,427 11,259,102 13,957,078 11,259,102 13,957,078 13,957,078 6,510,970 EBITDA (3,368,255) (3,006,383) (6,718,124) (7,533,562) (1,348,513) (7,533,562) (1,348,513) (1,348,513) (1,671,660) EBIT (4,231,912) (4,012,681) (7,541,764) (8,130,410) (1,888,438) (8,130,410) (1,888,438) (1,888,438) (2,238,073) Loss after income tax (4,249,016) (4,047,444) (7,635,544) (8,101,122) (1,951,007) (8,101,122) (1,951,007) (1,951,007) (2,220,638)
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Green360 Technologies Limited Directors’ Report 30 June 2026 16 Directors’ Report The factors that are considered to affect total shareholder return ('TSR') are summarised below: 2026 2025 2024 2023 2022 2023 2022 2022 2021 Share price at financial year end ($) 0.031 0.039 0.046 0.026 0.04 0.026 0.04 0.04 0.15 Total dividends declared (cents per share) - - - - - - - - - Basic loss per share (cents per share) (0.35) (0.41) (0.88) (1.14) (0.32) (1.14) (0.32) (0.32) (0.43) Additional disclosures relating to key management personnel Shareholding The number of shares in the Company held during the financial year by each Director and other members of key management personnel of the Group, including their personally related parties, is set out below: Balance at Exercise of Received Balance held at resignation Balance at the start of performance as part of Disposals/ the end of the year rights remuneration Acquired other the year Ordinary shares Aaron Banks 75,660,225 - - - - - 75,660,225 Mark Pensabene 1,566,694 - - - - - 1,566,694 Peter Trinder 320,000 - - - - - 320,000 Darren Hedley -1 - - - - - - Nicholas Anderson 1,364,0001 - - 1,000,000 - - 2,364,000 Bojan Bogunovic 2,100,000 - - - - 2,100,000 - Andrew Taylor -2 - - 750,000 - - 750,000 Hanno Van Der Merwe 1,738,000 - - - (1,738,000) - - 82,748,919 - - 1,750,000 (1,738,000) 2,100,000 80,660,919 1 Balance at appointment as director 2 Balance at commencement of employment Option holding The number of options over ordinary shares in the Company held during the financial year by each Director and other members of key management personnel of the Group, including their personally related parties, is set out below: Balance at Balance at the start of Granted as Expired/ Net change the end of the year remuneration Exercised forfeited other the year Options over ordinary shares Aaron Banks - - - - - - Mark Pensabene - - - - - - Peter Trinder - - - - - - Darren Hedley - - - - - - Nicholas Anderson - - - - - - Bojan Bogunovic 93,750 - - - (93,750) 1 - Andrew Taylor - - - - - - Hanno Van Der Merwe - - - - - - 93,750 - - - (93,750) - 1 Ceased to be a KMP 31 October 2025
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Green360 Technologies Limited Directors’ Report 30 June 2026 17 Directors’ Report Performance rights The number of performance rights in the Company held during the financial year by each Director and other members of key management personnel of the Group, including their personally related parties, is set out below: Balance at Expired/ Balance at the start of Granted as forfeited/ the end of the year remuneration Exercised other the year Performance rights Aaron Banks 22,500,000 40,000,000 - (7,500,000) 55,000,000 Mark Pensabene 3,000,000 3,000,000 - - 6,000,000 Peter Trinder - 6,000,000 - - 6,000,000 Darren Hedley - 6,000,000 - - 6,000,000 Nicholas Anderson - 6,000,000 - - 6,000,000 Bojan Bogunovic 13,350,000 - - (13,350,000)1 - Andrew Taylor - 22,500,000 - - 22,500,000 Hanno Van Der Merwe 12,000,000 - - (12,000,000)1 - 50,850,000 83,500,000 - (32,850,000) 101,500,000 1 Forfeited due to cessation of employment during the period Other transactions with key management personnel and their related parties During the financial year, no other transactions with key management personnel and their related parties were made. Amounts owing to related parties as at 30 June 2026 were $ 8,000 for director fees. All transactions were made on normal commercial terms and conditions and at market rates. This concludes the remuneration report, which has been audited.
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Green360 Technologies Limited Directors’ Report 30 June 2026 18 Directors’ Report Shares under option Unissued ordinary shares of Green360 Technologies Limited under option at the date of this report are as follows: Exercise Number Grant date Expiry date price under option 26-Feb-2024 26-Feb-2027 $0.045 5,000,000 26-Feb-2024 26-Feb-2027 $0.06 5,000,000 26-Feb-2024 26-Feb-2027 $0.075 5,000,000 16-Sep-2024 11-Nov-2026 $0.06 2,000,000 29-Oct-2024 29-Oct-2026 $0.075 30,833,328 1-Oct-2025 24-Oct-2028 $0.03 10,000,000 19-Nov-2025 27-Nov-2027 $0.06 500,000 No person entitled to exercise the options had or has any right by virtue of the option to participate in any share issue of the Company or of any other body corporate. Shares under performance rights Unissued ordinary shares of Green360 Technologies Limited under performance rights at the date of this report are as follows: Number under Exercise performance Grant date Expiry date price rights 5-Oct-2021 24-Nov-2026 nil 1,500,000 17-Nov-2021 24-Nov-2026 nil 7,500,000 2-Dec-2024 9-Dec-2027 nil 12,500,001 10-Dec-2025 10-Dec-2028 nil 6,000,000 12-Dec-2025 14-Jan-2029 nil 7,500,000 18-Jun-2026 15-Jun-2029 nil 3,000,000 15-Jun-2026 15-Jun-2031 nil 53,600,000 18-Jun-2026 18-Jun-2028 nil 4,000,000 Shares issued on the exercise of options and performance rights During the year ended 30 June 2026, no shares were issued on the exercise of options, and no shares were issued on the exercise of performance rights. Holdings include vested performance rights converted to ordinary shares on 9 September 2026. Indemnity and insurance of officers The Company has indemnified the Directors and executives of the Company for costs incurred, in their capacity as a Director or executive, for which they may be held personally liable, except where there is a lack of good faith. During the financial year, the Company paid a premium in respect of a contract to insure the Directors and executives of the Company against a liability to the extent permitted by the Corporations Act 2001. The contract of insurance prohibits disclosure of the nature of the liability and the amount of the premium. Indemnity and insurance of auditor The Company has not, during or since the end of the financial year, indemnified or agreed to indemnify the auditor of the Company or any related entity against a liability incurred by the auditor. During the financial year, the Company has not paid a premium in respect of a contract to insure the auditor of the Company or any related entity.
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Green360 Technologies Limited Directors’ Report 30 June 2026 19 Directors’ Report Proceedings on behalf of the company No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on behalf of the Company, or to 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 part of those proceedings. Non-audit services Details of the amounts paid or payable to the auditor for non-audit services provided during the financial year by the auditor are outlined in note 30 to the financial statements. The Directors are satisfied that the provision of non -audit services during the financial year, by the auditor (or by another person or firm on the auditor's behalf), is compatible with the general standard of independence for auditors imposed by the Corporations Act 2001. The Directors are of the opinion that the services as disclosed in note 30 to the financial statements do not compromise the external auditor's independence requirements of the Corporations Act 2001 for the following reasons: ● all non-audit services have been reviewed and approved to ensure that they do not impact the integrity and objectivity of the auditor; and ● none of the services undermine the general principles relating to auditor independence as set out in APES 110 Code of Ethics for Professional Accountants issued by the Accounting Professional and Ethical Standards Board, including reviewing or auditing the auditor's own work, acting in a management or decision -making capacity for the Company, acting as advocate for the Company or jointly sharing economic risks and rewards. Officers of the company who are former partners of RSM Australia Partners There are no officers of the Company who are former partners of RSM Australia Partners. 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. Auditor RSM Australia Partners continues in office in accordance with section 327 of the Corporations Act 2001. This report is made in accordance with a resolution of Directors, pursuant to section 298(2)(a) of the Corporations Act 2001. On behalf of the directors Aaron Banks Executive Chairman 29 September 2026 Perth
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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 UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 TO THE DIRECTORS OF GREEN360 TECHNOLOGIES LIMITED As lead auditor for the audit of the financial report of Green360 Technologies Limited for the year ended 30 June 2026, 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 audit; and (ii) any applicable code of professional conduct in relation to the audit. RSM AUSTRALIA Perth, WA TUTU PHONG Dated: 29 September 2026 Partner
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 21 Consolidated statement of profit or loss and other comprehensive income 22 Consolidated statement of financial position 23 Consolidated statement of changes in equity 24 Consolidated statement of cash flows 25 Notes to the financial statements 26 Consolidated entity disclosure statement 61 Directors' declaration 62 Independent auditor's report to the members of Green360 Technologies Limited 63 Annual mineral resource statement Shareholder information 70 General information The financial statements cover Green360 Technologies Limited as a Group consisting of Green360 Technologies Limited and the entities it controlled at the end of, or during, the year. The financial statements are presented in Australian dolla rs, which is Green360 Technologies Limited's functional and presentation currency. Green360 Technologies Limited is a listed public company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business are: Registered office Principal place of business Level 1 3610 Glenelg Hwy 105 St Georges Tce Pittong VIC 3360 Perth WA 6000 A description of the nature of the Group’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 29 September 2026. The Directors have the power to amend and reissue the financial statements.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes 22 Consolidated statement of profit or loss and other comprehensive income For the year ended 30 June 2026 Consolidated Note 2026 2025 $ $ Profit or loss from continuing operations Revenue 4 11,456,118 13,275,357 Cost of sales (11,209,838) (11,849,048) Gross profit before depreciation and amortisation 246,280 1,426,309 Depreciation and amortisation relating to kaolin production (627,287) (764,086) Gross profit/(loss) from operations (381,007) 662,223 Other income 4 719,769 627,033 Administration and other corporate expenses 5 (4,365,867) (4,206,148) Foreign exchange loss (44,656) (18,661) Other depreciation and amortisation expenses (236,370) (242,211) Research and development (580,338) (344,754) Share based payments expense 6 841,587 (506,142) Exploration and evaluation expenditure (2,134) (18,784) Loss on extinguishment of loan 19 (200,000) - Loss before income tax expense from continuing operations (4,249,016) (4,047,444) Income tax expense 7 - - Loss after income tax expense from continuing operations (4,249,016) (4,047,444) Loss after income tax expense for the year (4,249,016) (4,047,444) Other comprehensive income Items that may be reclassified through profit or loss Total other comprehensive loss for the year, net of tax - - Total comprehensive loss for the year (4,249,016) (4,047,444) Loss for the year is attributable to: Owners of Green360 Technologies Limited (4,249,016) (4,047,444) Total comprehensive loss for the year is attributable to: Continuing operations (4,249,016) (4,047,444) Owners of Green360 Technologies Limited (4,249,016) (4,047,444) Loss per share for loss attributable to owners of Green360 Technologies Limited Basic and diluted loss per share (in cents) 8 (0.35) (0.41)
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 The above consolidated statement of financial position should be read in conjunction with the accompanying notes 23 Consolidated statement of financial position As at 30 June 2026 Consolidated Note 2026 2025 $ $ Assets Current assets Cash and cash equivalents 9 3,203,574 1,820,826 Trade and other receivables 10 1,872,128 2,313,742 Inventories 11 1,858,033 1,847,875 Other financial assets 12 133,252 133,252 Other assets 13 198,696 196,725 Total current assets 7,265,683 6,312,420 Non-current assets Property, plant and equipment 14 5,542,260 4,695,275 Mine properties 15 1,748,168 1,987,262 Mineral interest acquisition and exploration expenditure 16 3,364,851 3,298,398 Right-of-use assets 17 68,029 272,118 Other financial assets 12 2,086,000 2,086,000 Total non-current assets 12,809,308 12,339,053 Total assets 20,074,991 18,651,473 Liabilities Current liabilities Trade and other payables 18 2,568,253 3,378,585 Borrowings 19 250,000 992,456 Provisions 20 542,392 641,472 Lease liabilities 21 110,107 220,805 Interest-bearing liabilities 22 192,883 180,817 Total current liabilities 3,663,635 5,414,135 Non-current liabilities Provisions 23 2,355,723 2,493,764 Lease liabilities 24 79,820 132,975 Interest-bearing liabilities 22 31,766 199,641 Total non-current liabilities 2,467,309 2,826,380 Total liabilities 6,130,944 8,240,515 Net assets 13,944,047 10,410,958 Equity Issued capital 25 56,663,135 48,231,840 Reserves 26 7,738,677 8,387,867 Accumulated losses 27 (50,457,765) (46,208,749) Total equity 13,944,047 10,410,958
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes 24 Consolidated statement of changes in equity For the year ended 30 June 2026 Issued Accumulated capital Reserves losses Total equity Consolidated $ $ $ $ Balance at 1 July 2024 46,488,046 7,700,253 (42,161,305) 12,026,994 Loss after income tax expense for the year - - (4,047,444) (4,047,444) Other comprehensive loss for the year, net of tax - - - - Total comprehensive loss for the year - - (4,047,444) (4,047,444) Transactions with owners in their capacity as owners: Shares issued 2,000,000 - - 2,000,000 Share issue costs (256,206) - - (256,206) Share-based payments - 687,614 - 687,614 Balance at 30 June 2025 48,231,840 8,387,867 (46,208,749) 10,410,958 Issued Accumulated capital Reserves losses Total equity Consolidated $ $ $ $ Balance at 1 July 2025 48,231,840 8,387,867 (46,208,749) 10,410,958 Loss after income tax expense for the year - - (4,249,016) (4,249,016) Other comprehensive loss for the year, net of tax - - - - Total comprehensive loss for the year - - (4,249,016) (4,249,016) Transactions with owners in their capacity as owners: Shares issued 9,200,000 - - 9,200,000 Share issue costs (768,705) - - (768,705) Share-based payments - (649,190) - (649,190) Balance at 30 June 2026 56,663,135 7,738,677 (50,457,765) 13,944,047
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 The above consolidated statement of cash flows should be read in conjunction with the accompanying notes 25 Consolidated statement of cash flows For the year ended 30 June 2026 Consolidated Note 2026 2025 $ $ Cash flows from operating activities Receipts in the course of operations 11,956,224 13,089,184 Payments to suppliers and employees (16,403,754) (15,193,390) Interest received 150,862 139,949 Interest paid (102,315) (172,450) Government grants and tax incentives 471,189 410,236 Net cash used in operating activities 28 (3,927,794) (1,726,471) Cash flows from investing activities Payments for property, plant and equipment (1,440,057) (452,782) Payments for exploration and evaluation (66,453) (79,736) Payments for mine properties (17,602) (35,792) Net cash used in investing activities (1,524,112) (568,310) Cash flows from financing activities Proceeds from issue of shares 8,500,000 2,000,000 Share issue transaction costs (599,743) (120,000) Repayment of loan (250,000) - Repayment of lease liabilities (225,285) (254,258) Repayment of interest-bearing liabilities (590,318) (636,560) Net cash received from financing activities 6,834,654 989,182 Net increase/(decrease) in cash and cash equivalents 1,382,748 (1,305,599) Cash and cash equivalents at the beginning of the financial year 1,820,826 3,126,425 Effects of exchange rate changes on cash and cash equivalents - - Cash and cash equivalents at the end of the financial year 9 3,203,574 1,820,826
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 26 Notes to the financial statements Note 1. Material accounting policy information The material accounting policies adopted in the preparation of the financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. New or amended Accounting Standards and Interpretations adopted The Group 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. Basis of preparation These general purpose financial statements have been prepared in accordance with Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') and the Corporations Act 2001, as appropriate for for-profit oriented entities. These financial statements also comply with IFRS Accounting Standards as issued by the International Accounting Standards Board ('IASB'). Historical cost convention The financial statements have been prepared under the historical cost convention, except for, where applicable, the revaluation of financial assets and liabilities at fair value through profit or loss and certain classes of property, plant a nd equipment. Critical accounting estimates The preparation of the financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 2. Going Concern The financial statements have been prepared on the going concern basis, which contemplates continuity of normal business activities and the realisation of assets and discharge of liabilities in the normal course of business. As disclosed in the financial statements, the Group incurred a loss of $4,249,016 and had net cash outflows from operating activities of $3,927,794 for the year ended 30 June 2026. As at that date, the Group had a cash balance of $3,203,574. The Directors believe that it is reasonably foreseeable that the Group will continue as a going concern, and that it is appropriate to adopt the going concern basis in the preparation of the financial report after consideration of the forecast cash flows of the Group. The cash flow forecast indicates that the Group expects to have sufficient working capital and other funds available to continue for at least the next twelve -month period ending 30 September 2027. The key assumptions used to derive at a detailed cashflow forecast relate to future sales and costs. Parent entity information In accordance with the Corporations Act 2001, these financial statements present the results of the Group only. Supplementary information about the parent entity is disclosed in note 34. Principles of consolidation The consolidated financial statements incorporate the assets and liabilities of all subsidiaries of Green360 Technologies Limited ('Company' or 'Parent') as at 30 June 2026 and the results of all subsidiaries for the year then ended. Green360 Technologies Limited and its subsidiaries together are referred to in these annual financial statements as the 'Group'. Subsidiaries are all those entities over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are de-consolidated from the date that control ceases.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 27 Notes to the financial statements Where the Group loses control over a subsidiary, it derecognises the assets including goodwill, liabilities and non-controlling interest in the subsidiary together with any cumulative translation differences recognised in equity. The Group recognises the fair value of the consideration received and the fair value of any investment retained together with any gain or loss in profit or loss. Operating segments Operating segments are presented using the 'management approach', where the information presented is on the same basis as the internal reports provided to the Chief Operating Decision Makers ('CODM'). The CODM is responsible for the allocation of resources to operating segments and assessing their performance. Foreign currency translation As stated in the “Basis of preparation’, the financial statements are presented in Australian dollars, which is Green360 Technologies Limited's functional and presentation currency. Foreign currency transactions Foreign currency transactions are translated into Australian dollars using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at financial year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss. Revenue recognition The Group recognises revenue as follows: Revenue from contracts with customers Revenue is recognised at an amount that reflects the consideration to which the Group is expected to be entitled in exchange for transferring goods or services to a customer. For each contract with a customer, the Group: identifies the contract with a customer; identifies the performance obligations in the contract; determines the transaction price which takes into account estimates of variable consideration and the time value of money; allocates the transaction price to the separate performance obligations on the basis of the relative stand -alone selling price of each distinct good or service to be delivered; and recognises revenue when or as each performance obligation is satisfied in a manner that depicts the transfer to the customer of the goods or services promised. Intercompany transactions, balances and unrealised gains on transactions between entities in the Group are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of the impairment of the asset transferred. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. The acquisition of subsidiaries is accounted for using the acquisition method of accounting. A change in ownership interest, without the loss of control, is accounted for as an equity transaction, where the difference between the consideration transferred and the book value of the share of the non-controlling interest acquired is recognised directly in equity attributable to the parent. Non-controlling interest in the results and equity of subsidiaries are shown separately in the statement of profit or loss and other comprehensive income, statement of financial position and statement of changes in equity of the Group. Losses incurred by the Group are attributed to the non-controlling interest in full, even if that results in a deficit balance.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 28 Notes to the financial statements Sale of kaolin and other minerals Sale of kaolin and other minerals is recognised at the point of sale, which is where the customer has taken delivery of the goods, the risks and rewards are transferred to the customer and there is a valid sales contract. Amounts disclosed as revenue are net of sales returns and trade discounts. Government grants Government grants relating to costs are deferred and recognised in profit or loss over the period necessary to match them with the costs that they are intended to compensate. Income tax The income tax expense or benefit for the period is the tax payable on that period's taxable income based on the applicable income tax rate for each jurisdiction, adjusted by the changes in deferred tax assets and liabilities attributable to tempora ry differences, unused tax losses and the adjustment recognised for prior periods, where applicable. Deferred tax assets and liabilities are recognised for temporary differences at the tax rates expected to be applied when the assets are recovered or liabilities are settled, based on those tax rates that are enacted or substantively enacted, except for: ● When the deferred income tax asset or liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and that, at the time of the transaction, affects neither the accounting nor taxable profits; or ● When the taxable temporary difference is associated with interests in subsidiaries, associates or joint ventures, and the timing of the reversal can be controlled and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets are recognised for deductible temporary differences and unused tax losses only if it is probable that future taxable amounts will be available to utilise those temporary differences and losses. The carrying amount of recognised and unrecognised deferred tax assets are reviewed at each reporting date. Deferred tax assets recognised are reduced to the extent that it is no longer probable that future taxable profits will be available for t he carrying amount to be recovered. Previously unrecognised deferred tax assets are recognised to the extent that it is probable that there are future taxable profits available to recover the asset. Deferred tax assets and liabilities are offset only where there is a legally enforceable right to offset current tax assets against current tax liabilities and deferred tax assets against deferred tax liabilities; and they relate to the same taxable authority on either the same taxable entity or different taxable entities which intend to settle simultaneously. Green360 Technologies Limited (the 'Parent') and its wholly -owned Australian subsidiaries have formed an income tax consolidated group under the tax consolidation regime. The Parent and each subsidiary in the tax consolidated group continue to account for their own current and deferred tax amounts. The tax consolidated group has applied the 'separate taxpayer within group' approach in determining the appropriate amount of taxes to allocate to members of the tax consolidated group. Variable consideration within the transaction price, if any, reflects concessions provided to the customer such as discounts, rebates and refunds, any potential bonuses receivable from the customer and any other contingent events. Such estimates are determined using either the 'expected value' or 'most likely amount' method. The measurement of variable consideration is subject to a constraining principle whereby revenue will only be recognised to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognised will not occur. The measurement constraint continues until the uncertainty associated with the variable consideration is subsequently resolved. Amounts received that are subject to the constraining principle are recognised as a refund liability. Interest Interest revenue is recognised as interest accrues using the effective interest method. This is a method of calculating the amortised cost of a financial asset and allocating the interest income over the relevant period using the effective interest rate, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to th e net carrying amount of the financial asset. Other revenue Other revenue is recognised when it is received or when the right to receive payment is established.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 29 Notes to the financial statements Current and non-current classification Assets and liabilities are presented in the consolidated statement of financial position based on current and non -current classification. An asset is classified as current when: it is either expected to be realised or intended to be sold or consumed in the Group’s normal operating cycle; it is held primarily for the purpose of trading; it is expected to be realised within 12 months after the reporting period; or the asset is cash or cash equivalent unless restricted from being exchanged or used to settle a liabilit y for at least 12 months after the reporting period. All other assets are classified as non-current. A liability is classified as current when: it is either expected to be settled in the Group's normal operating cycle; it is h eld primarily for the purpose of trading; it is due to be settled within 12 months after the reporting period; or there is no unconditional right to defer the settlement of the liability for at least 12 months after the reporting period. All other liabilit ies are classified as non-current. Deferred tax assets and liabilities are always classified as non-current. Cash and cash equivalents Cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short -term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. For the statement of cash flows presentation purposes, cash and cash equivalents also includes bank overdrafts, which are shown within borrowings in current liabilities on the statement of financial position. Trade and other receivables Trade receivables are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less any allowance for expected credit losses. Trade receivables are generally due for settlement within 30 to 60 days. The Group has applied the simplified approach to measuring expected credit losses, which uses a lifetime expected loss allowance. To measure the expected credit losses, trade receivables have been grouped based on days overdue. Other receivables are recognised at amortised cost, less any allowance for expected credit losses. Contract assets Contract assets are recognised when the Group has transferred goods or services to the customer but where the Group is yet to establish an unconditional right to consideration. Contract assets are treated as financial assets for impairment purposes. Customer acquisition costs Customer acquisition costs are capitalised as an asset where such costs are incremental to obtaining a contract with a customer and are expected to be recovered. Customer acquisition costs are amortised on a straight-line basis over the term of the contract. In addition to its own current and deferred tax amounts, the Parent also recognises the current tax liabilities (or assets) and the deferred tax assets arising from unused tax losses and unused tax credits assumed from each subsidiary in the tax consolidated group. Assets or liabilities arising under tax funding agreements with the tax consolidated entities are recognised as amounts receivable from or payable to other entities in the tax consolidated group. The tax funding arrangement ensures that the intercompany charge equals the current tax liability or benefit of each tax consolidated group member, resulting in neither a contribution by the head entity to the subsidiaries nor a distribution by the subsidiaries to the head entity.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 30 Notes to the financial statements Right of return assets Right of return assets represents the right to recover inventory sold to customers and is based on an estimate of customers who may exercise their right to return the goods and claim a refund. Such rights are measured at the value at which the inventory was previously carried prior to sale, less expected recovery costs and any impairment. Inventories Inventories are stated at the lower of cost and net realisable value. Cost comprises direct materials and delivery costs, direct labour, import duties and other taxes, an appropriate proportion of variable and fixed overhead expenditure based on normal operating capacity, and, where applicable, transfers from cash flow hedging reserves in equity. Costs of purchased inventory are determined after deducting rebates and discounts received or receivable. Cost is determined on the following basis: a. Work in progress and finished goods on hand is valued on an average total production cost method b. Ore stockpiles are valued at the average cost of mining and stockpiling the ore, including haulage c. Raw materials are valued at average cost Stock in transit is stated at the lower of cost and net realisable value. Cost comprises of purchase and delivery costs, net of rebates and discounts received or receivable. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Property, plant and equipment Land is measured at cost less any accumulated impairment losses. Land is not depreciated. The carrying amount of land is reviewed for impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable, in accordance with the Group's impairment policy. Buildings are stated at historical cost less accumulated depreciation and impairment. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Plant and equipment is stated at historical cost less accumulated depreciation and impairment. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Depreciation is calculated on a straight -line basis to write off the net cost of each item of property, plant and equipment (excluding land) over their expected useful lives as follows: Buildings 3-40 years Plant and equipment 2-25 years The residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each reporting date. Leasehold improvements are depreciated over the unexpired period of the lease or the estimated useful life of the assets, whichever is shorter. Costs to obtain a contract that would have been incurred regardless of whether the contract was obtained or which are not otherwise recoverable from a customer are expensed as incurred to profit or loss. Incremental costs of obtaining a contract where the contract term is less than one year is immediately expensed to profit or loss. Customer fulfilment costs Customer fulfilment costs are capitalised as an asset when all the following are met: (i) the costs relate directly to the contract or specifically identifiable proposed contract; (ii) the costs generate or enhance resources of the Group that will be used to satisfy future performance obligations; and (iii) the costs are expected to be recovered. Customer fulfilment costs are amortised on a straight-line basis over the term of the contract.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 31 Notes to the financial statements Right-of-use assets A right-of-use asset is recognised at the commencement date of a lease. The right-of-use asset is measured at cost, which comprises the initial amount of the lease liability, adjusted for, as applicable, any lease payments made at or before the commencement date net of any lease incentives received, any initial direct costs incurred, and, except where included in the cost of inventories, an estimate of costs expected to be incurred for dismantling and removing the underlying asset, and restoring the site or asset. Right-of-use assets are depreciated on a straight -line basis over the unexpired period of the lease or the estimated useful life of the asset, whichever is the shorter. Where the Group expects to obtain ownership of the leased asset at the end of the lease term, the depreciation is over its estimated useful life. Right -of use assets are subject to impairment or adjusted for any remeasurement of lease liabilities. The Group has elected not to recognise a right-of-use asset and corresponding lease liability for short-term leases with terms of 12 months or less and leases of low -value assets. Lease payments on these assets are expensed to profit or loss as incurred. Exploration and evaluation assets Exploration and evaluation expenditure in relation to separate areas of interest for which rights of tenure are current is carried forward as an asset in the statement of financial position where it is expected that the expenditure will be recovered through the successful development and exploitation of an area of interest, or by its sale; or exploration activities are continuing in an area and activities have not reached a stage which permits a reasonable estimate of the existence or otherwise of economically recoverable reserves. Where a project or an area of interest has been abandoned, the expenditure incurred thereon is written off in the year in which the decision is made. Mining assets Capitalised mining development costs include expenditures incurred to develop new ore bodies to define further mineralisation in existing ore bodies, to expand the capacity of a mine and to maintain production. Mining development also includes costs transferred from exploration and evaluation phase once production commences in the area of interest. Amortisation of mining development is computed by the units of production basis over the estimated proved and probable reserves. Proved and probable mineral reserves reflect estimated quantities of economically recoverable reserves which can be recovered in the future from known mineral deposits. These reserves are amortised from the date on which production commences. The amortisation is calculated from recoverable proven and probable reserves and a predetermined percentage of the recoverable measured, indicated and inferred resource. This percentage is reviewed annually. Restoration costs expected to be incurred are provided for as part of development phase that give rise to the need for restoration. Impairment of non-financial assets Non-financial assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. Recoverable amount is the higher of an asset's fair value less costs of disposal and value -in-use. The value-in-use is the present value of the estimated future cash flows relating to the asset using a pre -tax discount rate specific to the asset or cash-generating unit to which the asset belongs. Assets that do not have independent cash flows are grouped together to form a cash-generating unit. An item of property, plant and equipment is derecognised upon disposal or when there is no future economic benefit to the Group. Gains and losses between the carrying amount and the disposal proceeds are taken to profit or loss. Any revaluation surplus reserve relating to the item disposed of is transferred directly to retained profits.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 32 Trade and other payables These amounts represent liabilities for goods and services provided to the Group prior to the end of the financial year and which are unpaid. Due to their short-term nature they are measured at amortised cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition. Refund liabilities Refund liabilities are recognised where the Group receives consideration from a customer and expects to refund some, or all, of that consideration to the customer. A refund liability is measured at the amount of consideration received or receivable for whi ch the Group does not expect to be entitled and is updated at the end of each reporting period for changes in circumstances. Historical data is used across product lines to estimate such returns at the time of sale based on an expected value methodology. Lease liabilities A lease liability is recognised at the commencement date of a lease. The lease liability is initially recognised at the prese nt value of the lease payments to be made over the term of the lease, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group’s incremental borrowing rate. Lease payments comprise of fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, amounts expected to be paid under residual value guarantees, exercise price of a purchase option when the exercise of the option is reasonably certain to occur, and any anticipated termination penalties. The variable lease payments that do not depend on an index or a rate are expensed in the period in which they are incurred. Lease liabilities are measured at amortised cost using the effective interest method. The carrying amounts are remeasured if there is a change in the following: future lease payments arising from a change in an index or a rate used; residual guarantee; lease term; certainty of a purchase option and termination penalties. When a lease liability is remeasured, an adjustment is made to the corresponding right-of use asset, or to profit or loss if the carrying amount of the right-of-use asset is fully written down. Contract liabilities Contract liabilities represent the Group’s obligation to transfer goods or services to a customer and are recognised when a customer pays consideration, or when the Group recognises a receivable to reflect its unconditional right to consideration (whichever is earlier) before the Group has transferred the goods or services to the customer.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 33 Notes to the financial statements Finance costs Finance costs attributable to qualifying assets are capitalised as part of the asset. All other finance costs are expensed in the period in which they are incurred. Provisions Provisions are recognised when the Group has a present (legal or constructive) obligation as a result of a past event, it is probable the Group will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation. If the time value of money is material, provisions are discounted using a current pre-tax rate specific to the liability. The increase in the provision resulting from the passage of time is recognised as a finance cost. Employee benefits Short-term employee benefits Liabilities for wages and salaries, including non -monetary benefits, annual leave and long service leave expected to be settled wholly within 12 months of the reporting date are measured at the amounts expected to be paid when the liabilities are settled. Other long-term employee benefits The liability for annual leave and long service leave not expected to be settled within 12 months of the reporting date are measured at the present value of expected future payments to be made in respect of services provided by employees up to the reporting date. Defined contribution superannuation expense Contributions to defined contribution superannuation plans are expensed in the period in which they are incurred.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 34 Notes to the financial statements Share-based payments Equity-settled and cash-settled share-based compensation benefits are provided to employees. Equity-settled transactions are awards of shares, or options over shares, that are provided to employees in exchange for the rendering of services. Cash-settled transactions are awards of cash for the exchange of services, where the amount of cash is determined by reference to the share price. The cost of equity-settled transactions are measured at fair value on grant date. Fair value is independently determined using either the Binomial or Black-Scholes option pricing model that takes into account the exercise price, the term of the option, the impact of dilution, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option, together with non -vesting conditions that do not determine whether the Group receives the services that entitle the employees to receive payment. No account is taken of any other vesting conditions. The cost of equity-settled transactions are recognised as an expense with a corresponding increase in equity over the vesting period. The cumulative charge to profit or loss is calculated based on the grant date fair value of the award, the best estimate of the number of awards that are likely to vest and the expired portion of the vesting period. The amount recognised in profit or loss for the period is the cumulative amount calculated at each reporting date less amounts already recognised in previous periods. The cost of cash -settled transactions is initially, and at each reporting date until vested, determined by applying either the Binomial or Black-Scholes option pricing model, taking into consideration the terms and conditions on which the award was granted. The cumulative charge to profit or loss until settlement of the liability is calculated as follows: ● during the vesting period, the liability at each reporting date is the fair value of the award at that date multiplied by the expired portion of the vesting period. ● from the end of the vesting period until settlement of the award, the liability is the full fair value of the liability at th e reporting date. All changes in the liability are recognised in profit or loss. The ultimate cost of cash -settled transactions is the cash paid to settle the liability. Market conditions are taken into consideration in determining fair value. Therefore, any awards subject to market conditions are considered to vest irrespective of whether that market condition has been met, provided all other conditions are satisfied. If equity-settled awards are modified, as a minimum an expense is recognised as if the modification has not been made. An additional expense is recognised, over the remaining vesting period, for any modification that increases the total fair value of the share-based compensation benefit as at the date of modification. If the non-vesting condition is within the control of the Group or employee, the failure to satisfy the condition is treated as a cancellation. If the condition is not within the control of the Group or employee and is not satisfied during the vesting period, any remaining expense for the award is recognised over the remaining vesting period, unless the award is forfeited. If equity-settled awards are cancelled, it is treated as if it has vested on the date of cancellation, and any remaining expense is recognised immediately. If a new replacement award is substituted for the cancelled award, the cancelled and new award is treated as if they were a modification. Fair value measurement When an asset or liability, financial or non-financial, is measured at fair value for recognition or disclosure purposes, the fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date; and assumes that the transaction will take place either: in the principal market; or in the absence of a principal market, in the most advantageous market. Fair value is measured using the assumptions that market participants would use when pricing the asset or liability, assuming they act in their economic best interests. For non -financial assets, the fair value measurement is based on its highest and best u se. Valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, are used, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 35 Notes to the financial statements Assets and liabilities measured at fair value are classified into three levels, using a fair value hierarchy that reflects th e significance of the inputs used in making the measurements. Classifications are reviewed at each reporting date and transfers between levels are determined based on a reassessment of the lowest level of input that is significant to the fair value measurement. For recurring and non-recurring fair value measurements, external valuers may be used when internal expertise is either not available or when the valuation is deemed to be significant. External valuers are selected based on market knowledge and reputation. Where there is a significant change in fair value of an asset or liability from one period to another, an analysis is undertaken, which includes a verification of the major inputs applied in the latest valuation and a comparison, where applicable, with external sources of data. Issued capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds. Investment in Associates Associates are entities over which the Group has significant influence but not control. Investments in associates are accounted for using the equity method. Under the equity method, the share of the profits or losses of the associate is recognised in profit or loss and the share of the movements in equity is recognised in other comprehensive income. Investments in associates are c arried in the statement of financial position at cost plus post -acquisition changes in the Group's share of net assets of the associate. Goodwill relating to the associate is included in the carrying amount of the investment and is neither amortised nor individually tested for impairment. Dividends received or receivable from associates reduce the carrying amount of the investment. When the Group's share of losses in an associate equals or exceeds its interest in the associate, including any unsecured long-term receivables, the Group does not recognise further losses, unless it has incurred obligations or made payments on behalf of the associate. The Group discontinues the use of the equity method upon the loss of significant influence over the associate and recognises any retained investment at its fair value. Any difference between the associate's carrying amount, fair value of the retained investment and proceeds from disposal is recognised in profit or loss. Borrowings Loans and borrowings are initially recognised at the fair value of the consideration received, net of transaction costs. They are subsequently measured at amortised cost using the effective interest method. Earnings per share Basic earnings per share Basic earnings per share is calculated by dividing the profit attributable to the owners of Green360 Technologies Limited, excluding any costs of servicing equity other than ordinary shares, by the weighted average number of ordinary shares outstanding during the financial year, adjusted for bonus elements in ordinary shares issued during the financial year. Diluted earnings per share Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares and the weighted average number of shares assumed to have been issued for no consideration in relation to dilutive potential ordinary shares. Goods and Services Tax ('GST') and other similar taxes Revenues, expenses and assets are recognised net of the amount of associated GST, unless the GST incurred is not recoverable from the tax authority. In this case it is recognised as part of the cost of the acquisition of the asset or as part of the expense. Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the tax authority is included in other receivables or other payables in the statement of financial position.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 36 Notes to the financial statements Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from, or payable to the tax authority, are presented as operating cash flows. Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the tax authority. New Accounting Standards and Interpretations not yet mandatory or early adopted Australian Accounting Standards and Interpretations that have recently been issued or amended but are not yet mandatory, have not been early adopted by the Group for the annual reporting period ended 30 June 2026. The Group has not yet assessed the impact of these new or amended Accounting Standards and Interpretations, with those most relevant to the Group set out below: AASB 18 Presentation and Disclosure in Financial Statements This standard is applicable to annual reporting periods beginning on or after 1 January 2027 and early adoption is permitted. The standard replaces AASB 101 Presentation of Financial Statements, with many of the original disclosure requirements retained and there will be no impact on the recognition and measurement of items in the financial statements. But the standard will affect presentation and disclosure in the financial statements, includin g introducing five categories in the statement of profit or loss and other comprehensive income: operating, investing, financing, income taxes and discontinued operations. The standard introduces two mandatory sub-totals in the statement: 'Operating profit' and 'Profit before financing and income taxes'. There are also new disclosure requirements for 'management -defined performance measures', such as earnings before interest, taxes, depreciation and amortisation ('EBITDA') or 'adjusted profit'. The standard provides enhanced guidance on grouping of information (aggregation and disaggregation), including whether to present this information in the primary financial statements or in the notes. The Group will adopt this standard from 1 July 2027 and it is expected that there will be a significant change to the layout of the statement of profit or loss and other comprehensive income. Note 2. Critical accounting judgements, estimates and assumptions The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts in the financial statements. Management continually evaluates its judgements and estimates in relation to assets, liabilities, contingent liabilities, revenue and expenses. Management bases its judgements, estimates and assumptions on historical experience and on other various factors, including expectations of future events, management believes to be reasonable under the circumstances. The resulting accounting judgements and estimates will seldom equal the related actual results. The judgements, estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets a nd liabilities (refer to the respective notes) within the next financial year are discussed below. Share-based payment transactions The Group measures the cost of equity -settled transactions with employees by reference to the fair value of the equity instruments at the date at which they are granted. The fair value is determined by using either the Binomial or Black-Scholes model taking into account the terms and conditions upon which the instruments were granted. The accounting estimates and assumptions relating to equity-settled share-based payments would have no impact on the carrying amounts of assets and liabilities within the next annual reporting period but may impact profit or loss and equity. Refer to note 6 for further information. Provision for impairment of inventories The provision for impairment of inventories assessment requires a degree of estimation and judgement. Net realisable value tests are performed at least annually and represent the estimated future sales price of the product based on prevailing prices, less estimated costs to complete production and bring the product to sale. Stockpiles are measured by estimating the number of tonnes added and removed from the stockpile, the contained tonnes based on assay data, and the estimated recovery percentage based on the expected processing method. Stockpile tonnages are verified by periodic surveys. The Group reviews the carrying value of stockpile inventories regularly to ensure that their cost does not exceed net realisable value.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 37 Notes to the financial statements Rehabilitation provision A provision has been made for the present value of anticipated costs for future rehabilitation of land explored or mined. The Group’s mining and exploration activities are subject to various laws and regulations governing the protection of the environment. The Group recognises management's best estimate for assets retirement obligations and site rehabilitations in the period in which they are incurred. Actual costs incurred in the future periods could differ materially from the estimates . Additionally, future changes to environmental laws and regulations, life of mine estimates and discount rates could affect the carrying amount of this provision. Exploration and evaluation costs Exploration and evaluation costs are only capitalised when they are expected to be recovered either through successful development or sale of the relevant mining interest. Factors that could impact the future commercial production at the mine include the level of reserves and resources, future technology changes, which could impact the cost of mining, future legal changes and changes in commodity prices. To the extent that capitalised costs are determined not to be recoverable in the future, they will be written off in the period in which this determination is made. Key judgements are applied in considering costs to be capitalised which includes determining expenditures directly related to these activities and allocating overheads between those that are expensed and capitalised. Amortisation The Group uses the concept of life of mine to determine the amortisation of mine properties. In determining life of mine, the Group prepares mineral resource estimation in accordance with JORC 2012, guidelines prepared by the Joint Ore Reserves Committee of The Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia. The estimate of these mineral resources, by their very nature, require judgements, estimates and assumptions. Where the mineral resources estimates need to be modified, the amortisation expense is accounted for prospectively from the date of assessment until the end of the revised mine life (for both current and future years).
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 38 Estimation of useful lives of assets The Group determines the estimated useful lives and related depreciation and amortisation charges for its property, plant and equipment and finite life intangible assets. The useful lives could change significantly as a result of technical innovations or some other event. The depreciation and amortisation charge will increase where the useful lives are less than previously estimated lives, or technically obsolete or non-strategic assets that have been abandoned or sold will be written off or written down. Impairment of non-financial assets other than goodwill and other indefinite life intangible assets The Group assesses impairment of non-financial assets other than goodwill and other indefinite life intangible assets at each reporting date by evaluating conditions specific to the Group and to the particular asset that may lead to impairment. If an impairment trigger exists, the recoverable amount of the asset is determined. This involves fair value less costs of disposal or value-in-use calculations, which incorporate a number of key estimates and assumptions. In determining the recoverable amount of assets, key assumptions and estimates are used that require significant levels of judgement and are subject to risk and uncertainty that are beyond the control of the Group. Australian Accounting Standards require the Group to assess, in respect of the reporting period, whether there are any indications that an asset may be impaired, or conversely whether reversal of a previously recognised impairment may be required. If any such indication exists, the Group shall estimate the recoverable amount of the asset or Cash Generating Unit (CGU). At the reporting date, the Group identified impairment indicators in respect of the Pittong Kaolin Operation, reflecting economic performance below budget for the year, and has concluded that impairment was not required as at 30 June 2026. The recoverable amount of the CGU has been determined on a value -in-use basis. Unlike a conventional discounted cash flow model, the cash flow forecast is not limited to a fixed explicit period with a terminal value; rather, cash flows are projected over the estimated remaining Life of Mine (LoM), reflecting the expected production profile and economically recoverable reserves of the operation. Cash flows are discounted to present value using a post -tax discount rate that reflects current market assessments of the time value of money and the risks specific to the CGU. Key assumptions contained in the cash flow projections used to determine the recoverable amount of the CGU include: • Forecast production volumes are based on expected customer demand and demonstrated plant capacity; • Selling prices are based on historical realised prices and recent actual sales performance; • Operating costs, including mining and processing costs, are based on historical cost per tonne performance, adjusted for expected plant utilisation, and escalated for inflation over the remaining Life of Mine; • Overheads are modelled on a fixed cost base, escalated for inflation, consistent with the relatively fixed nature of the cost structure; • Sustaining capital expenditure is estimated by reference to historical depreciation per production tonnes as a proxy for capital required to maintain the existing asset base, escalated for inflation; • An inflation rate of 3.0% has been applied in escalating operating costs, overheads and sustaining capital expenditure; and • The cash flow forecasts are discounted using a pre-tax discount rate of 15.6%.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 39 Note 3. Operating segments Identification of reportable operating segments The Group is organised into four operating segments, being kaolin production, research and development, exploration and evaluation, and corporate. These operating segments are based on the internal reports that are reviewed and used by the Board of Directors (who are identified as the Chief Operating Decision Makers ('CODM')) in assessing performance and in determining the allocation of resources. There is no aggregation of operating segments. The CODM reviews EBITDA (earnings before interest, tax, depreciation and amortisation). The accounting policies adopted for internal reporting to the CODM are consistent with those adopted in the financial statements. The information is reported to the CODM on a monthly basis. Types of products and services The principal products and services of the kaolin production operating segment are the manufacture and sale of refined kaolin in Australia and overseas. Major customers During the year ended 30 June 2026 approximately $2,916,361 (2025: $4,446,421) of the Group’s external revenue was derived from sales to two major Australian paper producers.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 40 Notes to the financial statements Operating segment information Research & Exploration Kaolin 30 June 2026 Corporate Development & Evaluation Production Total $ $ $ $ $ Revenue Sales to external customers - - - 11,456,118 11,456,118 Total segment revenue - - - 11,456,118 11,456,118 EBITDA (1,842,858) (580,338) (4,042) (941,017) (3,368,255) Depreciation and amortisation (222,727) (13,461) (182) (627,287) (863,657) Interest revenue 24,018 - - 104,832 128,850 Finance costs (106,062) - - (39,892) (145,954) Loss before income tax expense (2,147,629) (593,799) (4,224) (1,503,364) (4,249,016) Income tax expense - - - - - Loss after income tax expense (2,147,629) (593,799) (4,224) (1,503,364) (4,249,016) Assets Segment assets 3,012,415 101,364 3,362,340 13,598,872 20,074,991 Liabilities Segment liabilities 746,881 - - 5,384,063 6,130,944 Research & Exploration Kaolin 30 June 2025 Corporate Development & Evaluation Production Total $ $ $ $ $ Revenue Sales to external customers - - - 13,275,357 13,275,357 Total segment revenue - - - 13,275,357 13,275,357 EBITDA (2,783,714) (344,754) (19,655) 141,740 (3,006,383) Depreciation and amortisation (222,406) - (182) (783,709) (1,006,297) Interest revenue 17,985 - - 119,701 137,686 Finance costs (125,212) - - (47,238) (172,450) Loss before income tax expense (3,113,347) (344,754) (19,837) (569,506) (4,047,444) Income tax expense - - - - - Loss after income tax expense (3,113,347) (344,754) (19,837) (569,506) (4,047,444) Assets Segment assets 681,706 33,754 3,296,173 14,639,840 18,651,473 Liabilities Segment liabilities 1,826,465 - 7,840 6,406,210 8,240,515
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 41 Notes to the financial statements Note 4. Revenue Consolidated 2026 2025 $ $ Revenue from contracts with customers Sale of goods 11,456,118 13,275,357 Revenue from continuing operations 11,456,118 13,275,357 Interest income 128,850 137,686 Government grants 471,189 380,236 Other 119,730 109,111 Other income 719,769 627,033 Timing of revenue recognition All revenue is recognised at a point in time. Disaggregation of revenue The disaggregation of revenue from contracts with customers is as follows: Consolidated 2026 2025 $ $ Geographical regions Australia and New Zealand 6,490,013 7,903,431 Asia 4,830,870 5,053,943 Rest of the World 135,235 317,983 11,456,118 13,275,357 Note 5. Administration and other corporate expenses Consolidated 2026 2025 $ $ Employee expenses 1,786,779 1,744,021 Legal fees 190,984 32,171 Accounting fees 181,867 172,114 Compliance fees 200,255 180,869 Finance costs 145,954 172,450 Unwinding of discount 103,273 100,903 Other administration costs 1,756,755 1,803,620 4,365,867 4,206,148
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 42 Notes to the financial statements Note 6. Share based payments expense Total $ Performance rights issued to key management personnel during the current period 260,877 Performance rights issued to key management personnel during prior periods (931,307) Performance rights issued to others during the current period 9,526 Performance rights issued to others during prior periods (180,683) (841,587) Options During the current financial year, 500,000 options were issued to the mortgage loan lenders. In addition, 10,000,000 options were issued to the lead manager as part of the Placement conducted in August 2025. For the options granted during the current financial year, the valuation model inputs used to determine the fair value at the grant date, are as follows: Exercise Share price at Expected Dividend Risk-free Fair value at Grant date Expiry date price grant date volatility yield interest rate grant date 1-Oct-2025 24-Oct-2028 $0.03 $0.033 80% - 3.57% $0.0187 19-Nov-2025 27-Nov-2027 $0.06 $0.031 89% - 3.657% $0.0100 The fair value of the mortgage loan options is $4,988 which has been recognised in share based payment reserves. The fair value of the lead manager options is $187,410 which has been included in share issue costs. Set out below is a summary of the movement in options during the financial year: Balance at Expired/ Balance at Exercise the start of forfeited/ the end of Grant date Expiry date price the year Granted Exercised other the year 15-Dec-2022 6-Dec-2025 $0.075 1,000,000 - - (1,000,000) - 15-Dec-2022 6-Dec-2025 $0.10 12,500,000 - - (12,500,000) - 17-Feb-2023 16-Mar-2026 $0.08 5,000,000 - - (5,000,000) - 17-Feb-2023 16-Mar-2026 $0.12 7,500,000 - - (7,500,000) - 17-Feb-2023 16-Mar-2026 $0.16 12,500,000 - - (12,500,000) - 27-Jun-2023 26-Jun-2026 $0.06 5,000,000 - - (5,000,000) - 29-Nov-2023 1-Dec-2025 $0.06 2,000,000 - - (2,000,000) - 26-Feb-2024 26-Feb-2027 $0.045 5,000,000 - - - 5,000,000 26-Feb-2024 26-Feb-2027 $0.06 5,000,000 - - - 5,000,000 26-Feb-2024 26-Feb-2027 $0.075 5,000,000 - - - 5,000,000 16-Sep-2024 11-Nov-2026 $0.06 2,000,000 - - - 2,000,000 29-Oct-2024 29-Oct-2026 $0.075 30,833,328 - - - 30,833,328 1-Oct-2025 24-Oct-2028 $0.03 - 10,000,000 - - 10,000,000 19-Nov-2025 27-Nov-2027 $0.06 - 500,000 - - 500,000 93,333,328 10,500,000 - (45,500,000) 58,333,328 Weighted average exercise price $0.09 $0.03 - $0.01 $0.06
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 43 Notes to the financial statements Set out below are the options exercisable at the end of the financial year: 2026 2025 Grant date Expiry date Number Number 15-Dec-2022 6-Dec-2025 - 13,500,000 17-Feb-2023 16-Mar-2026 - 25,000,000 27-Jun-2023 26-Jun-2026 - 5,000,000 29-Nov-2023 1-Dec-2025 - 2,000,000 26-Feb-2024 26-Feb-2027 15,000,000 15,000,000 16-Sep-2024 11-Nov-2026 2,000,000 2,000,000 29-Oct-2024 29-Oct-2026 30,833,328 30,833,328 1-Oct-2025 24-Oct-2028 10,000,000 - 19-Nov-2025 27-Nov-2027 500,000 - 58,333,328 93,333,328 The weighted average remaining contractual life of options outstanding at the end of the financial year was 0.77 years (2025: 1.05 years). Performance rights For the performance rights issued during the current year, the valuation model inputs used to determine the fair value at the grant date, are as follows: Performance Share price Expected Dividend Risk-free Fair value Grant date Expiry date Milestone Number at grant date volatility yield interest rate at grant date 20-Nov-25 10-Dec-28 a 2,000,000 $0.033 90% - 3.71% $0.0287 20-Nov-25 10-Dec-28 b 2,000,000 $0.033 90% - 3.71% $0.0270 20-Nov-25 10-Dec-28 c 2,000,000 $0.033 90% - 3.71% $0.0254 12-Dec-25 14-Jan-29 a 2,500,000 $0.035 90% - 4.12% $0.0310 12-Dec-25 14-Jan-29 b 2,500,000 $0.035 90% - 4.12% $0.0293 12-Dec-25 14-Jan-29 c 2,500,000 $0.035 90% - 4.12% $0.0276 01-Jan-26 15-Jun-29 a 1,000,000 $0.037 90% - 4.19% $0.0332 01-Jan-26 15-Jun-29 b 1,000,000 $0.037 90% - 4.19% $0.0314 01-Jan-26 15-Jun-29 c 1,000,000 $0.037 90% - 4.19% $0.0296 23-Apr-26 18-Jun-28 d 4,000,000 $0.032 - - - $0.0315 23-Apr-26 27-May-31 e 3,000,000 $0.032 - - - $0.0315 23-Apr-26 27-May-31 f 3,000,000 $0.032 - - - $0.0315 23-Apr-26 27-May-31 g 3,000,000 $0.032 - - - $0.0315 23-Apr-26 27-May-31 h 3,000,000 $0.032 - - - $0.0315 23-Apr-26 27-May-31 i 3,000,000 $0.032 - - - $0.0315 27-May-26 27-May-31 e 10,400,000 $0.037 - - - $0.0370 27-May-26 27-May-31 f 10,400,000 $0.037 - - - $0.0370 27-May-26 27-May-31 g 10,400,000 $0.037 - - - $0.0370 27-May-26 27-May-31 h 10,400,000 $0.037 - - - $0.0370 27-May-26 27-May-31 i 10,400,000 $0.037 - - - $0.0370 87,500,000 Performance Milestones: (a) The Company’s VWAP being at least $0.065 over 20 consecutive trading days on which the Company’s shares have actually traded. (b) The Company’s VWAP being at least $0.08 over 20 consecutive trading days on which the Company’s shares have actually traded. (c) The Company’s VWAP being at least $0.095 over 20 consecutive trading days on which the Company’s shares have actually traded. (d) Continuous employment with the Company for 24 months from Grant Date (e) The first Commercial Sale of Eco-Clay.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 44 Notes to the financial statements (f) Upon at least 10kt Sales of Eco-Clay in any rolling 12-month period. (g) At least 30kt Sales of Eco-Clay in any rolling 12-month period. (h) Upon commissioning of own calcining facility to produce metakaolin. (i) Upon first commercial tonnes produced at the Company’s own calcining facility. Of the 87,500,000 performance rights issued, 83,500,000 were issued to key management personnel. Set out below is a summary of the movement in performance rights during the financial year: Balance at Expired/ Balance at the start of lapsed/ the end of the year Issued Exercised other the year Key management personnel 50,850,000 83,500,000 - (32,850,000) 101,500,000 Others 10,583,336 4,000,000 - (7,083,335) 7,500,001 61,433,336 87,500,000 - (39,933,335) 109,000,001
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 45 Notes to the financial statements Note 7. Income tax expense Consolidated 2026 2025 $ $ Statement of profit or loss and other comprehensive income Current income tax Current income tax charge - - Deferred income tax Relating to origination and reversal of temporary differences - - Income tax expense/benefit reported in the statement of profit or loss and other comprehensive income - - Tax reconciliation Accounting loss before tax from continuing operations (4,249,016) (4,047,444) At statutory tax rate of 25% (2025: 25%) (1,062,254) (1,011,861) Non-deductible expenses 32,197 51,036 Tax losses and temporary differences not recognised 1,030,057 960,825 Income tax expense - - Deferred tax assets Trade and other payables - 19,750 Provisions 724,529 784,650 Lease liabilities 20,482 70,816 Inventory 841 - Mine properties - 39,276 Blackhole expenditure 334,113 349,758 Other liabilities 5,723 14,029 Foreign exchange 6,234 - Capital losses 48,553 48,553 Tax losses 7,060,835 6,068,545 Net off deferred tax liabilities (599,332) (530,294) Net deferred tax asset not recognised (7,601,978) (6,865,083) Deferred tax assets - - Deferred tax liabilities Other assets (976) (25,335) Mineral interest acquisition and exploration expenditure (430,981) (436,929) Right-of-use assets (17,007) (68,029) Mine properties (150,368) - Net off deferred tax liabilities 599,332 530,293 Deferred tax liabilities - - A potential deferred tax asset, attributable to tax loss incurred in the current period, amounts to approximately $7,601,977 (2025: $6,865,083) and has not been brought to account at reporting date because the Directors believe it is inappropriate to regard realisation of the deferred tax asset as probable at this point in time. This benefit will only be obtained if: • the Group derives future assessable income of a nature and of an amount sufficient to enable the benefit from the deductions for the loss incurred; • the Group continues to comply with the conditions for deductibility imposed by law; and • no changes in tax legislation adversely affects the Group in realising the benefit from the deductions for the loss incurred.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 46 Notes to the financial statements Note 8. Loss per share Consolidated 2026 2025 $ $ Loss used in calculating loss per share Loss after income tax attributable to owners of Green360 Technologies Limited (4,249,016) (4,047,444) (4,249,016) (4,047,444) Cents Cents Basic and diluted loss per share (0.35) (0.41) Number Number Weighted average number of ordinary shares Weighted average number of ordinary shares used in calculating basic and diluted loss per share 1,207,404,446 995,624,539 1,207,404,446 995,624,539 Note 9. Cash and cash equivalents Consolidated 2026 2025 $ $ Cash at bank and on hand 3,203,574 1,820,826 Note 10. Trade and other receivables Consolidated 2026 2025 $ $ Trade receivables 1,872,128 2,313,742 Allowance for expected credit losses The Group has recognised a loss of $Nil in the profit or loss in respect of the expected credit losses for the year ended 30 June 2026. In relation to the ageing of receivables, 98% (2025: 82%) of trade receivables are current, with 2% (2025: 15%) being 0 to 30 days overdue, nil (2025: 2%) being 31 to 60 days overdue, and nil (2025: 1%) being over 60 days overdue. Note 11. Inventories Consolidated 2026 2025 $ $ Raw materials 941,767 773,134 Packaging 360,353 339,219 Work in progress 79,111 88,026 Finished goods 476,802 647,496 1,858,033 1,847,875
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 47 Notes to the financial statements Note 12. Other financial assets Consolidated 2026 2025 $ $ Current Bank card guarantee 35,000 35,000 Rental guarantee 98,252 98,252 133,252 133,252 Non-current Rehabilitation bond 2,086,000 2,086,000 2,086,000 2,086,000 The rehabilitation bond was lodged with the Department of Jobs, Precincts and Regions in Victoria. It serves as surety for compliance with the conditions of the mining licenses relating to rehabilitation. Note 13. Other current assets Consolidated 2026 2025 $ $ Prepayments 40,792 75,256 GST receivable 153,999 95,380 Accrued interest income 3,905 26,089 198,696 196,725 Note 14. Property, plant and equipment Consolidated 2026 2025 $ $ Land and buildings - at cost 1,347,733 997,914 Less: Accumulated depreciation on buildings (453,287) (411,796) 894,446 586,118 Leasehold improvements - at cost 465,196 222,926 Less: Accumulated depreciation (125,647) (98,673) 339,549 124,253 Plant and equipment - at cost 6,272,196 5,370,507 Less: Accumulated depreciation (1,963,931) (1,385,603) 4,308,265 3,984,904 5,542,260 4,695,275
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 48 Notes to the financial statements Reconciliations Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out below: Land and Leasehold Plant and buildings Improvements equipment Total Consolidated $ $ $ $ Balance at 1 July 2024 424,715 146,181 4,119,428 4,690,324 Additions 198,980 - 412,632 611,612 Disposals - - - - Depreciation expense1 (37,577) (21,928) (547,156) (606,661) Write-off - - - - Balance at 30 June 2025 586,118 124,253 3,984,904 4,695,275 Additions 349,819 242,270 901,689 1,493,778 Disposals - - - - Depreciation expense1 (41,491) (26,974) (578,328) (646,793) Write-off - - - - Balance at 30 June 2026 894,446 339,549 4,308,265 5,542,260 1 Depreciation expense will not match the depreciation and amortisation relating to kaolin production expense in the Consolidated Statement of Profit or Loss and Other Comprehensive Income as the above depreciation expense relates to all classes of property, plant and equipment, whilst the depreciation and amortisation related to kaolin production expense includes amortisation of mining reserves but excludes certain equipment, such as office equipment. Note 15. Mine properties Consolidated 2026 2025 $ $ Mining properties - at cost 1,748,168 1,987,262 Reconciliations Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out below: Overburden Mining Rehabilitation Asset Reserves Asset Total Consolidated $ $ $ $ Balance at 1 July 2024 445,715 818,055 963,524 2,227,294 Additions 8,000 14,140 - 22,140 Change in present value of rehabilitation provision - - (85,871) (85,871) Amortisation expense (158,392) (9,315) (8,594) (176,301) Balance at 30 June 2025 295,323 822,880 869,059 1,987,262 Additions 18,000 2,607 - 20,607 Change in present value of rehabilitation provision - - (246,928) (246,928) Amortisation expense - (6,819) (5,954) (12,773) Balance at 30 June 2026 313,323 818,668 616,177 1,748,168
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 49 Notes to the financial statements Note 16. Mineral interest acquisition and exploration expenditure Consolidated 2026 2025 $ $ Mineral interest acquisition and exploration expenditure - at cost 3,364,851 3,298,398 Reconciliations Reconciliations of the written down values at the beginning and end of the current and previous financial year are set out below: Exploration and evaluation Consolidated $ Balance at 1 July 2024 3,225,385 Additions 73,013 Balance at 30 June 2025 3,298,398 Additions 66,453 Balance at 30 June 2026 3,364,851 Note 17. Right-of-use assets Consolidated 2026 2025 $ $ Office space - right-of-use 408,177 408,177 Less: Accumulated depreciation (340,148) (136,059) 68,029 272,118 The Group leases its office space and on renewal, the terms of the lease are renegotiated. The Group also leases equipment and motor vehicles which are either short-term or low-value leases, so have been expensed as incurred and not capitalised as right-of-use assets.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 50 Notes to the financial statements Note 18. Trade and other payables Consolidated 2026 2025 $ $ Trade payables 2,057,983 2,257,138 Accruals 117,904 283,308 Unearned revenue 137,139 633,499 Other payables 255,227 204,640 2,568,253 3,378,585 Note 19. Borrowings Consolidated 2026 2025 $ $ Mortgage loan 250,000 992,456 On 30 November 2023, the Company obtained debt funding of $1,000,000, from private lender Tember Nominees Pty Ltd utilising its non-core asset, being freehold land it owns at Lal Lal, located in Victoria, as security against the loan. In November 2025, the Company converted $500,000 of the outstanding loan to equity, via the issue of 20,000,000 shares at an issue price of $0.035 per share. The remaining loan of $500,000 was extended for a further six-month period ending 29 May 2026, with the interest rate for this period being 11% per annum. As part of the extension, 500,000 options were issued to the lender. A $200,000 loss on extinguishment of the loan has been recorded in the consolidated statement of profit or loss and other comprehensive income, being the difference between the carrying amount of the liability extinguished and the fair value of the shares on the date they were issued. In May 2026, $250,000 of the outstanding loan was repaid with the residual $250,000 extended to 30 N ovember 2026. Interest for the six -month period to 30 November 2026 of $13,750 was paid in advance at the time of extension. Note 20. Current provisions Consolidated 2026 2025 $ $ Annual leave 338,665 376,733 Long service leave 203,727 258,379 Other provisions - 6,360 542,392 641,472 Note 21. Current lease liabilities Consolidated 2026 2025 $ $ Lease liability 110,107 220,805 The Group leases its office space, equipment and has motor vehicles under lease agreements. On renewal, the terms of the leases are renegotiated. Refer to note 35 for further information on financial instruments.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 51 Notes to the financial statements Note 22. Interest-bearing liabilities Consolidated 2026 2025 $ $ Current Insurance funding 10,304 10,224 Equipment finance 182,579 170,593 192,883 180,817 Non-current Equipment finance 31,766 199,641 31,766 199,641 Note 23. Non-current provisions Consolidated 2026 2025 $ $ Long service leave 17,697 12,083 Rehabilitation 2,338,026 2,481,681 2,355,723 2,493,764 Rehabilitation The provision represents the present value of estimated costs for future rehabilitation of land explored or mined by the Group at the end of the exploration or mining activity. Movements in rehabilitation provision Movements in the rehabilitation provision during the current and previous financial year, are set out below: Rehabilitation Consolidated $ Balance at 1 July 2024 2,466,648 Change in present value (85,870) Unwinding of discount 100,903 Balance at 30 June 2025 2,481,681 Change in present value (246,928) Unwinding of discount 103,273 Balance at 30 June 2026 2,338,026
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 52 Notes to the financial statements Note 24. Non-current lease liabilities Consolidated 2026 2025 $ $ Lease liability 79,820 132,975 Refer to note 35 for further information on financial instruments. Note 25. Equity - issued capital Consolidated 2026 2025 2026 2025 Shares Shares $ $ Ordinary shares - fully paid 1,323,833,588 1,009,515,406 56,663,135 48,231,840 Movements in ordinary share capital Details Date Shares Issue price $ Balance 30 Jun 2024 966,265,407 46,488,046 Shares issued - Conversion of Performance Rights 18 Jul 2024 1,583,333 0.049 -1 Shares issued - Placement 29 Oct 2024 41,666,666 0.048 2,000,000 Share issue costs - (256,206) Balance 30 Jun 2025 1,009,515,406 48,231,840 Shares issued – Placement Tranche 1 18 Aug 2025 146,909,090 0.022 3,232,000 Shares issued – Placement Tranche 2 6 Oct 2025 34,909,091 0.022 768,000 Shares issued – Mortgage Loan Extinguishment 27 Nov 2025 20,000,000 0.035 700,000 Shares issued – Placement Tranche 1 13 March 2026 111,500,000 0.040 4,460,000 Shares issued – Placement Tranche 2 29 May 2026 1,000,000 0.040 40,000 Share issue costs - (768,705) Balance 30 Jun 2026 1,323,833,588 56,663,135 1 This appears as nil as the value is already fully recognised within equity, in the share-based payments reserve.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 53 Notes to the financial statements Ordinary shares Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up of the Company in proportion to the number of and amounts paid on the shares held. The fully paid ordinary shares have no par value and the Company does not have a limited amount of authorised capital. On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote. Share buy-back There is no current on-market share buy-back. Capital risk management The Group’s objective when managing capital is to safeguard its ability to continue as a going concern, so that it can provide returns for shareholders and benefits for other stakeholders and to maintain an optimum capital structure to reduce the cost of capital. Capital is regarded as total equity, as recognised in the statement of financial position, plus net debt. Net debt is calculated as total borrowings less cash and cash equivalents. In order to maintain or adjust the capital structure, the Group may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt. The Group would look to raise capital when an opportunity to invest in a business or company is seen as value adding relative to the current Company's share price at the time of the investment. The Group is not actively pursuing additional investments in the short term as it continues to integrate and grow its existing businesses in order to maximise synergies. The capital risk management policy remains unchanged from the 30 June 2025 Annual Report. Note 26. Equity - reserves Consolidated 2026 2025 $ $ Share based payments reserve 7,738,677 8,387,867 7,738,677 8,387,867 Share based payments reserve The reserve is used to recognise increments and decrements in the fair value of share-based payments. Movements in reserves Movements in equity reserves during the current and previous financial year are set out below: Performance Rights Options Total Consolidated $ $ $ Balance at 1 July 2024 1,455,232 6,245,021 7,700,253 Share based payments 506,142 181,472 687,614 Balance at 30 June 2025 1,961,374 6,426,493 8,387,867 Share based payments (note 6) (841,587) 192,399 (649,190) Balance at 30 June 2026 1,119,785 6,618,892 7,738,677
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 54 Notes to the financial statements Note 27. Equity - accumulated losses Consolidated 2026 2025 $ $ Accumulated losses at the beginning of the financial year (46,208,749) (42,161,305) Loss after income tax expense for the year (4,249,016) (4,047,444) Accumulated losses at the end of the financial year (50,457,765) (46,208,749) Note 28. Reconciliation of loss after income tax to net cash from operating activities Consolidated 2026 2025 $ $ Loss after income tax expense for the year (4,249,016) (4,047,444) Adjustments for: Depreciation and amortisation 863,657 1,006,297 Share-based payments expense (841,587) 506,142 Unwinding of the discount on provisions 103,273 100,903 Loss on extinguishment of debt 200,000 - Finance costs – options issued 12,532 37,722 Other non-cash items (47,262) 24,628 Change in operating assets and liabilities: Change in trade and other receivables 441,614 (898,783) Change in inventories (10,158) 94,086 Change in other assets 143,971 475,033 Change in trade and other payables (307,697) 1,004,152 Change in other provisions (237,121) (29,207) Net cash outflows from operating activities (3,927,794) (1,726,471) Non-cash investing and financing activities Consolidated 2026 2025 $ $ Additions to lease liabilities 61,432 482,925 Change in present value of rehabilitation provision 246,928 85,870 Additions to interest-bearing liabilities 434,509 488,370 742,869 1,057,165
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 55 Notes to the financial statements Note 29. Key management personnel disclosures Compensation The aggregate compensation made to Directors and other members of key management personnel of the Group is set out below: Consolidated 2026 2025 $ $ Short-term employee benefits 1,021,255 1,013,410 Post-employment benefits 89,633 88,614 Share-based payments (670,430) 415,942 440,458 1,517,966 Note 30. Remuneration of auditors During the financial year the following fees were paid or payable for services provided by RSM Australia Partners, the auditor of the Company, its network firms and unrelated firms: Consolidated 2026 2025 $ $ RSM Australia Partners Audit or review of the financial statements 101,231 94,944 101,231 94,944 Note 31. Related party transactions Parent entity Green360 Technologies Limited is the parent entity. Subsidiaries and associates Interests in subsidiaries and associates are set out in notes 32 and 33 respectively. Key management personnel Disclosures relating to key management personnel are set out in note 29 and the remuneration report included in the directors' report. Transactions with related parties During the financial year, no transactions with related parties were made other than key management personnel compensation disclosed in note 29 and the remuneration report. Receivable from and payable to related parties There were no receivables from related parties at the current and previous reporting date. As at 30 June 2026, $ 8,000 was outstanding to related parties (2025: $8,000). Loans to/from related parties There were no loans to or from related parties at the current and previous reporting date. Terms and conditions All transactions were made on normal commercial terms and conditions and at market rates.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 56 Notes to the financial statements Note 32. Interests in subsidiaries The consolidated financial statements incorporate the assets, liabilities and results of the following wholly-owned subsidiaries in accordance with the accounting policy described in note 1. Ownership interest Principal place of business / 2026 2025 Name Country of incorporation % % Watershed Enterprise Solutions Pty Ltd Australia 100% 100% Mt Marshall Kaolin Pty Ltd Australia 100% 100% Suvo Australia Pty Ltd Australia 100% 100% Suvo Minerals Australia Pty Ltd Australia 100% 100% Kaolin Australia Pty Ltd Australia 100% 100% Climate Tech Cement Pty Ltd Australia 100% 100% Note 33. Interests in joint ventures Interests in joint ventures are accounted for using the equity method of accounting. Ownership interest Principal place of business / 2026 2025 Name Country of incorporation % % Permacast Future Industries Pty Ltd Australia 50% 50% Permacast Future Solutions Pty Ltd Australia 50% 50% Permacast Future Industries Pty Ltd and Permacast Future Solutions Pty Ltd were dormant during the year ended 30 June 2026. Note 34. Parent entity information Set out below is the supplementary information about the parent entity. Statement of profit or loss and other comprehensive income Parent 2026 2025 $ $ Loss after income tax (4,249,016) (4,047,444) Total comprehensive loss (4,249,016) (4,047,444) Statement of financial position Parent 2026 2025 $ $ Total current assets 2,888,626 346,911 Total assets 14,690,928 12,237,423 Total current liabilities 746,881 1,751,698 Total liabilities 746,881 1,826,465 Equity Issued capital 56,663,135 48,231,840 Reserves 7,738,677 8,387,867 Accumulated losses (50,457,765) (46,208,749) Total equity 13,944,047 10,410,958
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 57 Notes to the financial statements Note 35. Financial instruments Financial risk management objectives The Group’s activities expose it to a variety of financial risks: market risk (including foreign currency risk and price risk), credit risk and liquidity risk. The Group’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the financial performance of the Group. The Group uses different methods to measure different types of risk to which it is exposed. These methods include sensitivity analysis in the case of foreign exchange and other price risks and ageing analysis for credit risk. Risk management is carried out by senior finance executives ('finance') under policies approved by the Board of Directors ('the Board'). These policies include identification and analysis of the risk exposure of the Group and appropriate procedures, controls and risk limits. Finance identifies, evaluates and hedges financial risks within the Group’s operating units. Finance reports to the Board on a monthly basis. Market risk Foreign currency risk The Group undertakes certain transactions (export sales) denominated in foreign currency and is exposed to foreign currency risk through foreign exchange rate fluctuations. The Group has elected not to enter into hedging contracts as receipts in foreign currency (USD) were not material during the financial year. The Group will continue to monitor foreign currency risk and take the appropriate course of action as required. The Group held cash of US$28,133 as at 30 June 2026 (2025: US$389,248). Price risk The Group is not exposed to any significant price risk. Interest rate risk The Group is exposed to interest rate risk given it has interest -bearing liabilities at 30 June 2026 of $224, 649 (2025: $380,458) These are principal and interest payment liabilities. Monthly cash outlays of approximately $1,000 per month are required to service the interest payments. In addition, minimum principal repayments of $1 82,579 are due during the year ending 30 June 2027 . As the interest -bearing liabilities are at fixed rates, an official change in interest rates will have no effect on profit before tax. Credit risk Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Group. The Group has a strict code of credit, including obtaining agency credit information, confirming references and setting appropriate credit limits. The Group obtains guarantees where appropriate to mitigate credit risk. The maximum exposure to credit risk at the reporting date to recognised financial assets is the carrying amount, net of any provisions for impairment of those assets, as disclosed in the consolidated statement of financial position and notes to the financial statements. The Group does not hold any collateral. Guarantees entered into by the parent entity in relation to the debts of its subsidiaries The parent entity and some of its subsidiaries are party to a deed of cross guarantee under which each company guarantees the debts of the others. Contingent liabilities Other than those specified in note 36, the parent entity had no contingent liabilities as at 30 June 2026 (30 June 2025: $Nil). Capital commitments - Property, plant and equipment The parent entity had committed $Nil for property, plant and equipment as at 30 June 2026 (30 June 2025: $Nil). Material accounting policies The accounting policies of the parent entity are consistent with those of the Group, as disclosed in note 1, except for the following: ▪ Investments in subsidiaries are accounted for at cost, less any impairment, in the parent entity; and ▪ Dividends received from subsidiaries are recognised as other income by the parent entity and its receipt may be an indicator of an impairment of the investment.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 58 Notes to the financial statements The Group has adopted a lifetime expected loss allowance in estimating expected credit losses to trade receivables through the use of a provisions matrix using fixed rates of credit loss provisioning. These provisions are considered representative across all customers of the Group based on recent sales experience, historical collection rates and forward-looking information that is available. Generally, trade receivables are written off when there is no reasonable expectation of recovery. Indicators of this include the failure of a debtor to engage in a repayment plan, no active enforcement activity and a failure to make contractual payments for a period greater than 1 year. Liquidity risk Vigilant liquidity risk management requires the Group to maintain sufficient liquid assets (mainly cash and cash equivalents) to be able to pay debts as and when they become due and payable. The Group manages liquidity risk by maintaining adequate cash reserves by continuously monitoring actual and forecast cash flows and matching the maturity profiles of financial assets and liabilities. Remaining contractual maturities The following tables detail the Group’s remaining contractual maturity for its financial instrument liabilities. The tables h ave been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the financial liabilities are required to be paid. The tables include both interest and principal cash flows disclosed as remaining contractual maturities and therefore these totals may differ from their carrying amount in the statement of financial position. Weighted average interest rate 1 year or less Between 1 and 2 years Between 2 and 5 years Over 5 years Remaining contractual maturities Consolidated - 2026 % $ $ $ $ $ Non-derivatives Non-interest bearing Trade payables - 2,057,983 - - - 2,057,983 Other payables - 510,270 - - - 510,270 Interest-bearing - fixed rate Borrowings 11.00% 250,000 - - - 250,000 Lease liability 8.29% 110,720 35,160 71,877 - 217,757 Interest-bearing liabilities 7.43% 192,370 16,031 - - 208,401 Total non-derivatives 3,121,343 51,191 71,877 - 3,244,411 Weighted average interest rate 1 year or less Between 1 and 2 years Between 2 and 5 years Over 5 years Remaining contractual maturities Consolidated - 2025 % $ $ $ $ $ Non-derivatives Non-interest bearing Trade payables - 2,257,138 - - - 2,257,138 Other payables - 1,121,447 - - - 1,121,447 Interest-bearing - fixed rate Borrowings 11.00% 992,456 - - - 992,456 Lease liability 8.29% 240,315 92,776 50,213 - 383,304 Interest-bearing liabilities 7.43% 192,370 192,370 16,031 - 400,771 Total non-derivatives 4,803,726 285,146 66,244 - 5,155,116 The cash flows in the maturity analysis above are not expected to occur significantly earlier than contractually disclosed above. Fair value of financial instruments Unless otherwise stated, the carrying amounts of financial instruments reflect their fair value.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 59 Notes to the financial statements Note 36. Contingent assets and liabilities On 17 January 2023, the Company announced that the tenement purchase for 100% of exploration license application E70/4981, located in the Muchea region of Western Australia, was completed. As part of the consideration for the Tenement Application, the Comp any agreed to issue or grant (as the case may be) the following royalty interest and deferred consideration to the Vendor: (a) Royalty: 4% of the proceeds of gross sales from Product derived from the Tenement Application; (b) Deferred Consideration Shares: Subject to the following development milestones having first been satisfied, issue to the Vendor up to $1,550,000 Shares (Deferred Consideration Shares), in the following tranches: i. Grant of Mining License: Upon the grant of a mining license over any area the subject of the Exploration License. The number of Shares calculated by dividing $1,150,000 by the greater of: - the 5 Day VWAP; and - $0.15. ii. Grant of Mining Permit: Upon the grant of all necessary mining permits over any part of the Tenement Application, necessary to commence production (including environmental permits, water licenses, project management plans and mine closure plans), the numbe r of Shares calculated by dividing $400,000 by the greater of: - The 5 Day VWAP; and - $0.15. The Deferred Consideration Shares must be issued by 21 October 2027 (5 years from the date of shareholder approval), or the rights to the Deferred Consideration Shares will lapse. Other than the above, the Group had no other contingent assets or liabilities at the current reporting date. Note 37. Commitments Consolidated 2026 2025 $ $ Exploration commitments Committed at the reporting date but not recognised as liabilities, payable: Rent, rates and minimum tenement expenditure for next 12 months 190,013 169,859 190,013 169,859
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 60 Notes to the financial statements Note 38. Changes in liabilities arising from financing activities Interest- bearing Lease Borrowings liabilities liabilities Consolidated $ $ $ Balance at 1 July 2024 1,000,000 528,648 125,114 Net cash from/used in financing activities - (636,560) (254,259) Other additions to liabilities (7,544) 488,370 482,925 Balance at 30 June 2025 992,456 380,458 353,780 Net cash from/used in financing activities (250,000) (590,318) (225,285) Other additions/reductions to liabilities (492,456) 434,509 61,432 Balance at 30 June 2026 250,000 224,649 189,927 Note 39. Deed of cross guarantee The following entities are party to a deed of cross guarantee under which each company guarantees the debts of the others: Green360 Technologies Limited Watershed Enterprise Solutions Pty Ltd Mt Marshall Kaolin Pty Ltd Suvo Australia Pty Ltd Suvo Minerals Australia Pty Ltd Kaolin Australia Pty Ltd By entering into the deed, the wholly-owned entities have been relieved from the requirement to prepare financial statements and directors’ report under Corporations Instrument 2016/785 issued by the Australian Securities and Investments Commission. The ab ove companies represent a ‘Closed Group’ for the purposes of the Corporations Instrument, and as there are no other parties to the deed of cross guarantee that are controlled by Green360 Technologies Limited, they also represent the ‘Extended Closed Group’. The statement of profit and loss and other comprehensive income and statement of financial position of the Closed Group are substantially the same as the Group and therefore have not been separately disclosed. Climate Tech Cement Pty Ltd is not a party to the deed of cross guarantee, it is a standalone wholly -owned subsidiary. Climate Tech Cement Pty Ltd is not a reporting entity. As at 30 June 2026, Climate Tech Cement Pty Ltd has assets of $101,364 (2025: $33,754) and has liabilities of $1,267,074 (2025: $605,665), all of which relate to amounts due to Group entities. Climate Tech Cement Pty Ltd generated no revenue, and made a loss for the year of $593,799 (2025: $325,193). Note 40. Matters subsequent to the end of the financial year On 23 July 2026, the Company announced the successful commercialisation of its low -carbon partial cement replacement product, known as MKX, via a binding supply agreement with global construction materials company Holcim (Australia) Pty Ltd. Under the bind ing agreement, the Company will supply up to 4,800 tonnes per year of MKX -CC (Calcined Clay) to Holcim’s Victorian operations during an initial 12-month supply agreement at a fixed price per tonne. Apart from matters discussed above, no other matter or circumstance has arisen since 30 June 2026 that has significantly affected, or may significantly affect the Group's operations, the results of those operations, or the Group's state of affair s in future financial years.
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Green360 Technologies Limited Annual Financial Statements 30 June 2026 61 Consolidated entity disclosure statement As at 30 June 2026 Place formed / Country of Ownership Interest Tax Entity Name Entity type incorporation % Residency Green360 Technologies Limited Body Corporate Australia N/A Australia* Watershed Enterprise Solutions Pty Ltd Body Corporate Australia 100% Australia* Mt Marshall Kaolin Pty Ltd Body Corporate Australia 100% Australia* Suvo Australia Pty Ltd Body Corporate Australia 100% Australia* Suvo Minerals Australia Pty Ltd Body Corporate Australia 100% Australia* Kaolin Australia Pty Ltd Body Corporate Australia 100% Australia* Climate Tech Cement Pty Ltd Body Corporate Australia 100% Australia* * Green360 Technologies Limited (the ‘Parent’) and its wholly-owned Australian subsidiaries have formed an income tax consolidated group under the tax consolidation regime.
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Green360 Technologies Limited Director’s Declaration 30 June 2026 62 Directors’ Declaration In the directors' opinion: ● the attached financial statements and notes comply with the Corporations Act 2001, the Accounting Standards, the Corporations Regulations 2001 and other mandatory professional reporting requirements; ● the attached financial statements and notes comply with I FRS Accounting Standards as issued by the International Accounting Standards Board as described in note 1 to the financial statements; ● the attached financial statements and notes give a true and fair view of the Group’s financial position as at 30 June 2026 and of its performance for the financial year ended on that date; ● there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable; ● At the date of this declaration, there are reasonable grounds to believe that the members of the Extended Closed Group will be able to meet any obligations or liabilities to which they are, or may become, subject by virtue of the deed of cross guarantee described in note 39 to the financial statements; and ● The information disclosed in the attached consolidated entity disclosure statement is true and correct. The directors have been given the declarations required by section 295A of the Corporations Act 2001. Signed in accordance with a resolution of directors made pursuant to section 295(5)(a) of the Corporations Act 2001. On behalf of the directors Aaron Banks Executive Chairman 29 September 2026 Perth
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RSM Australia Partners Level 32 Exchange Tower, The Esplanade Perth WA 6000 GPO Box R1253 Perth WA 6844 T +61 (0) 8 9261 9100 www.rsm.com.au INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF GREEN360 TECHNOLOGIES LIMITED REPORT ON THE AUDIT OF THE FINANCIAL REPORT Opinion We have audited the financial report of Green360 Technologies Limited (the Company) and its subsidiaries (the Group), which comprises the consolidated statement of financial position as at 30 June 2026, 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 year then ended, and notes to the financial statements, including material accounting policy information, the consolidated entity disclosure statement and the directors' declaration. In our opinion, the accompanying financial report of the Group is in accordance with the Corporations Act 2001, including: (i) giving a true and fair view of the Group's financial position as at 30 June 2026 and of its financial performance for the year then ended; and (ii) complying with Australian Accounting Standards and the Corporations Regulations 2001. Basis for Opinion We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Report section of our report. We are independent of the Group in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of APES 110 Code of Ethics for Professional Accountants (including Independence Standards) issued by the Accounting Professional & Ethical Standards Board Limited (the Code) that are relevant to our audit of the financial report of public interest entities in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. We confirm that the independence declaration required by the Corporations Act 2001 , which has been given to the directors of the Company, would be in the same terms if given to the directors as at the time of this auditor's report. We believe th at the audi t evidenc e we have obtaine d is sufficien t and appropriate t o provide a basis f or our opinion.
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Key Audit Matters Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial report of the current period. These matters were addressed in the context of our audit of the financial report as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We have determined the matters described below to be the key audit matters to be communicated in our report. Key Audit Matter How our audit addressed this matter Going concern - Refer to Note 1 in the financial statements At 30 June 2026, the Group incurred a loss of $4,249,016 and had net cash outflows from operating activities of $3,927,794 for the year ended 30 June 2026. As at that date the Group had a cash balance of $3,203,574. The directors have prepared the financial report on the going concern basis. We have determined this assessment of going concern to be a key audit matter due to the significant judgements involved in preparing the cash flow forecast and the potential material impact of the results of management’s assessment. Our audit procedures included: • Assessing the reasonableness of the Group’s cash flow forecast for the 12 -month period ending 30 September 2027; • Checking the mathematical accuracy of management’s cash flow forecast; • Challenging the reasonableness of the key assumptions used by management in the cash flow forecast by comparison to our knowledge of the business; • Assessing the sensitivity of the key assumptions within management’s cash flow forecast; and • Assessing the disclosures in the financial report. Mineral interest acquisition and exploration expenditure - Refer to Note 16 in the financial statements The Group has capitalised m ineral interest acquisition and exploration expenditure with a carrying value of $3,364,851 as at 30 June 2026. We have determined this to be a key audit matter due to the significant management judg ements involved in assessing the carrying value of the assets including: • Determining whether the exploration and evaluation expenditure can be associated with finding specific mineral resources, and the basis on which that expenditure is allocated to an area of interest; • Assessing whether exploration activities have reached a stage at which the existence of economically recoverable reserves may be concluded; and • Assessing whether any indicators of impairment are present and if so, any impairment expense to be recognised. Our audit procedures included: • Assessing the Group’s accounting policy for compliance with Australian Accounting Standards; • Assessing whether the rights to tenure of the areas of interest are current; • Testing a sample of additions to supporting documentation and assessing whether the amounts capitalised during the year are in compliance with the Group’s accounting policy and relate to the relevant area of interest; • Assessing and evaluating management’s assessment of whether indicators of impairment existed at the reporting date; • Enquiring with management and reading budgets and other documentation as evidence that active and significant operations in, or in relation to, the relevant areas of interest will be continued in the future; and • Assessing and evaluating management’s determination that exploration activities have not yet progressed to the stage where the existence or otherwise of economically recoverable reserves may be determined.
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Other Information The directors are responsible for the other information. The other information comprises the information included in the Group's annual report for the year ended 30 June 2026 but does not include the financial report and the auditor's report thereon. Our opinion on the financial report does not cover the other information and accordingly we do not express any form of assurance conclusion thereon. In connection with our audit of the financial report, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial report or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Key Audit Matter How our audit addressed this matter Impairment consideration relating to its Pittong Kaolin Operation cash generating unit As at 30 June 2026, the Group had property, plant and equipment and mine properties amounting to $7,290,428 capitalised in the statement of financial position relating to its Pittong Kaolin Operation cash -generating unit (CGU). Australian Accounting Standards require the Group to assess, in respect of the reporting period, whether there are any indications that an asset may be impaired. If any such indication exists, the Group shall estimate the recoverable amount of the asset or CGU. At the reporting date, management identified impairment indicators in respect of the Pittong Kaolin Operation CGU and prepared a value in use model to determine the recoverable amount of the CGU. The assessment for indicators of impairment by management requires the exercise of judgement and includes a range of external and internal factors. Where impairment indicators are identified, forecasting cash flows for the purpose of determining the recoverable amount of a CGU involves critical accounting estimates and judgements and is affected by expected future performance and market conditions. Management concluded that impairment of the CGU was not required for the year ended 30 June 2026. We have determined this area to be a key audit matter due to the significant account balance and the level of management estimates and judgement involved in the preparation of the value in use model to support the carrying values as discussed above, and the overall complexities of this process. Our audit procedures included: • Assessing the Group’s accounting policy for compliance with Australian Accounting Standards; • Considering the Group’s determination of the Pittong Kaolin Operation CGU based on our understanding of the operations at Pittong and how the identifiable CGU generates independent cash inflows; • Considering the appropriateness of the value in use model applied by the Group to assess the carrying value of the Pittong Kaolin Operation CGU; • Challenging the reasonableness of the key assumptions used in the value in use model, including the: i) future production levels and operating expenditure; ii) future product sales volumes and pricing; iii) discount rate applied; and iv) life of mine model; • Considering the sensitivity of the value in use model by varying key assumptions, including those noted above, within a reasonably possible range; • Checking the mathematical accuracy of the value in use model and reconciling input data to supporting evidence, such as approved budgets, and considering the reasonableness of those budgets; and • Assessing the disclosures in the financial report.
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Responsibilities of the Directors for the Financial Report The directors of the Company are responsible for the preparation of: a. the financial report (other than the consolidated entity disclosure statement) that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001; and b. the consolidated entity disclosure statement that is true and correct in accordance with the Corporations Act 2001; and for such internal control as the directors determine is necessary to enable the preparation of: i. the financial report (other than the consolidated entity disclosure statement) that gives a true and fair view and is free from material misstatement, whether due to fraud or error; and ii. the consolidated entity disclosure statement that is true and correct and is free from misstatement, whether due to fraud or error. In preparing the financial report, the directors are responsible for assessing the ability of the Group to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the d irectors either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so. Auditor's Responsibilities for the Audit of the Financial Report Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report. A further description of our responsibilities for the audit of the financial report is located at the Auditing and Assurance Standards Board website at: https://www.auasb.gov.au/media/bwvjcgre/ar1_2024.pdf. This description forms part of our auditor's report.
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REPORT ON THE AUDIT OF THE REMUNERATION REPORT Opinion on the Remuneration Report We have audited the Remuneration Report included in the directors' report for the year ended 30 June 2026. In our opinion, the Remuneration Report of Green360 Technologies Limited, for the year ended 30 June 2026, complies with section 300A of the Corporations Act 2001. Responsibilities The directors of the Company are responsible for the preparation and presentation of the Remuneration Report in accordance with section 300A of the Corporations Act 2001. Our responsibility is to express an opinion on the Remuneration Report, based on our audit conducted in accordance with Australian Auditing Standards. RSM AUSTRALIA Perth, WA TUTU PHONG Dated: 29 September 2026 Partner
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Green360 Technologies Limited Annual Mineral Resource Statement 67 Annual Mineral Resource Statement 1. Mineral Resource Estimate A summary of the Mineral Resources at Green360 Technologies Limited’s projects and operations as at 30 June 2026 is shown in Table 1 below. Table 1 Kaolin Mineral Resources Statement (as at 30 June 2026) White ISO Yield Kaolinised Brightness % <45um Kaolin Category Granite (Mt) (457nm) % (Mt) Gabbin Project (White Cloud Kaolin Project)1 Indicated 26.9 80.4 41.3 11.1 Inferred 45.6 80.6 41.1 18.8 Total 72.5 80.5 41.2 29.9 Trawalla Deposit2 Indicated 9.9 81.0 27.7 2.8 Inferred 2.8 79.8 28.3 0.8 Total 12.7 80.8 27.8 3.6 Pittong Operations3 Indicated 3.4 81.2 35.4 1.2 Inferred 1.9 79.1 33.0 0.7 Total 5.3 80.5 34.6 1.9 1 The Gabbin (White Cloud Kaolin Project) Mineral Resource estimate was completed by CSA Global Pty Ltd (CSA) on behalf of the Company. The Mineral Resource estimate was announced on 25 March 2021. As no mining activity has occurred since, there has been no movement in the Mineral Resource estimate. 2 The Trawalla Mineral Resource estimate was completed by CSA Global Pty Ltd (CSA) on behalf of the Company. The Mineral Resource estimate was announced on 22 September 2021. As no mining activity has occurred since, there has been no movement in the Mineral Resource estimate. 3 The Pittong Mineral Resource estimate was completed by CSA Global Pty Ltd (CSA) on behalf of the Company. The Mineral Resource estimate was announced on 1 March 2022 and has been revised to account for depletion due to mining activity which occurred during the period 1 July 2025 to 30 June 2026 by Goldfields Geological Services on behalf of the Company.
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Green360 Technologies Limited Annual Mineral Resource Statement 68 Annual Mineral Resource Statement 2. Material changes and resource statement comparison A comparison table between 2025 and 2026 Mineral Resource Estimates for Green360 Technologies Limited’s projects and operations is shown in Table 2 and Table 3 below. Table 2 Kaolin Pittong Operations Mineral Resource Estimate comparison between 2025 and 2026 Estimate as at 30 June 2026: White ISO Yield Kaolinised Brightness % <45um Kaolin Category Granite (Mt) (457nm) % (Mt) Pittong Operations Indicated 3.4 81.2 35.4 1.2 Inferred 1.9 79.1 33.0 0.7 Total 5.3 80.5 34.6 1.9 Estimate as at 30 June 2025: White ISO Yield Kaolinised Brightness % <45um Kaolin Category Granite (Mt) (457nm) % (Mt) Pittong Operations Indicated 3.5 81.2 35.4 1.2 Inferred 1.9 79.1 33.0 0.7 Total 5.4 80.5 34.6 1.9 3. Competent Person’s Statement - Mineral Resource Estimation The information in this report that relates to Mineral Resources at Green360 Technologies Limited’s Pittong Operations, is based on information compiled by Mr Matthew Hernan, a Competent Person who is a Fellow and Chartered Professional of The Australasian Institute of Mining and Metallurgy and a member of Australian Institute of Geoscientists. Mr Hernan is the Principal Geologist at Goldfields Geological Services and provides independent geological consulting services to Green360 Technologies Limited’s Pittong Operations. Mr Hernan has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Austra lasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Hernan consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The information related to the Trawalla deposit is extracted from the report entitled “Trawalla Maiden Mineral Resource Estimate” created on 22 nd September 2021 and is available to view at https://investorhub.g360tech.au/announcements/4022588. The information related to the Gabbin project (White Cloud Kaolin project) is extracted from the report entitled “Suvo increases White Cloud kaolin resource by 84% to 72.5Mt” created on 25 th March 2021 and is available to view at https://investorhub.g360tech.au/announcements/3950995. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptio ns and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. 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 announcement. 4. Mineral Resource Governance The Company has appropriate systems in place and suitably qualified and competent geological consultants to complete any resource estimation or review to the required standards as shown in the 2012 JORC Code Guidelines. The Quality Assurance, Sampling Systems, Assay procedures, Data Recording, Interpretation Standards and Resource Estimation Methods and other parameters as set out in Table 1 of the JORC Code 2012 Guidelines are closely followed. The mineral resources reported have been generated by independent external consultants where appropriate who are experienced in best practices in modelling and estimation method s. The consultants have also undertaken reviews of the quality and suitability of the underlying information used to determine the resource estimate.
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Green360 Technologies Limited Shareholder Information 69 Shareholder information The shareholder information set out below was applicable as at 14 September 2026. Distribution of equitable securities Analysis of number of equitable security holders by size of holding: Ordinary shares % of total Number shares of holders issued 1 to 1,000 153 0.01% 1,001 to 5,000 422 0.10% 5,001 to 10,000 232 0.14% 10,001 to 100,000 942 2.96% 100,001 and over 881 96.80% 2,630 100.00% Holding less than a marketable parcel 1,026 0.47% Equity security holders Twenty largest quoted equity security holders The names of the twenty largest security holders of quoted equity securities are listed below: Ordinary shares % of total shares Number held issued MELBOURNE SECURITIES CORPORATION LTD <BV1 FUND A/C> 132,000,000 9.87% MR AARON PETER BANKS 73,957,131 5.53% MR PETER MARK LEWIS 35,250,000 2.64% MR CHRISTOPHER JAMES WEED & MRS JANET ELIZABETH BROCKMAN <MAINSTONE SUPER FUND A/C> 35,023,771 2.62% MR ANGELO VICENDESE 23,318,801 1.74% J P MORGAN NOMINEES AUSTRALIA PTY LTD 20,000,000 1.50% RATDOG PTY LTD 16,058,522 1.20% ICON EQUITIES PTY LTD 16,000,000 1.20% MR CHRISTOPHER JAMES WEED & MRS JANET ELIZABETH BROCKMAN <MAINSTONE SUPER FUND A/C> 15,315,101 1.15% MR BRIAN THOMAS CLAYTON & MRS JANET CLAYTON 12,358,997 0.92% SD FAMILY INVESTMENTS PTY LTD <SD FAMILY INVESTMENTS A/C> 11,890,469 0.89% MR ROBERT KINGSLEY FITZGERALD 11,023,000 0.82% BONCLYDE PTY LTD <A V SUPER FUND A/C> 11,000,000 0.82% CITICORP NOMINEES PTY LIMITED 10,351,974 0.77% FRANUNTA SUPER PTY LTD <FRANUNTA SUPER FUND A/C> 10,000,000 0.75% MR KOBI BEN SHABATH 9,778,159 0.73% TL ROBBINS PTY LTD <TL ROBBINS FAMILY A/C> 9,769,260 0.73% RIMOYNE PTY LTD 9,522,302 0.71% SSELKROW PTY LTD 9,350,000 0.70% MR WAYNE STEPHEN CLARK 8,650,000 0.65% 480,617,487 35.94%
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Green360 Technologies Limited Shareholder Information 70 Shareholder information Substantial holders As at the date of this report, the Company had received substantial shareholder notices from the following shareholders: Ordinary shares % of total shares Number held issued MELBOURNE SECURITIES CORPORATION LTD <BV1 FUND A/C> 125,310,5001 10.52% MR AARON PETER BANKS 75,660,2252 6.54% 1As per most recent notice of change of interests of substantial holder received on 21 October 2025, hence, the number of ordinary shares held does not reconcile to the twenty largest quoted equity security holders on 14 September 2026. 2As per most recent notice of change of interests of substantial holder received on 22 September 2025, the number of ordinary shares held does not reconcile to the twenty largest quoted equity security holders as at 14 September 2026, as the substantial holder notice reflects holdings across multiple accounts. Voting rights The voting rights attached to ordinary shares are set out below: Ordinary shares On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote. There are no other classes of equity securities. Tenements Description Tenement number Interest owned % White Cloud Kaolin Project E70/5039 100% Pittong Project M5408 100% Pittong Project M5409 100% Pittong Project M5365 100% E = Exploration License M = Mining Lease Unquoted equity securities Number Number on issue of holders Options expiring 29 October 2026 at $0.075 30,833,328 39 Options expiring 11 November 2026 at $0.06 2,000,000 2 Options expiring 27 November 2026 at $0.06 500,000 1 Options expiring 26 February 2027 at $0.045 5,000,000 11 Options expiring 26 February 2027 at $0.060 5,000,000 11 Options expiring 26 February 2027 at $0.075 5,000,000 11 Options expiring 24 October 2028 at $0.03 10,000,000 11 Performance rights 95,600,001 9 Unquoted equity security holdings greater than 20% Number Held Aaron Banks 47,000,000