Quarterly Activities Report period ended 31 December 2025

Macarthur’s principal asset remains the Lake Giles Iron Ore Project located in the Yilgarn region of Western Australia, comprising the Moonshine Magnetite Project and the Ularring Hematite Project. The Lake Giles Project hosts a JORC-compliant Mineral Resource and Proven and Probable Ore Reserve base supporting a long-life iron ore development, as previously reported to the ASX on 21 March 2022. A