Amended Quarterly Activities & Cash Flow Report - Sep 26

NZX and Media Release
22 October 2026




Quarterly Activities and Cashflow Report – September 2026
Taiko Critical Minerals Limited (NZCN: 5824110)
c/o PriceWaterhouseCoopers, Level 26 PwC Tower, 15 Customs Street West,
Auckland Central, Auckland 1010, New Zealand
www.taikocm.co.nz

 $20m Regional Infrastructure Fund Loan Offered by NZ Government
 Placement and Share Purchase Plan Raises $9.5m
 Cargill South Mineral Resource Estimate Reported
 Updated Mineral Resource Statement Issued
 Fast Track Application on Track for Decision 8 December 2026

NZ Government Offers Regional Infrastructure Fund (RIF) Loan
1
The Government has offered to provide financial assistance of up to $20 million towards
funding the wet concentrator plant planned as part of its Barrytown Critical Minerals Project.
The Company is currently engaged with Government officials to determine the format, terms
and conditions of the proposed Government assistance.
This funding support from the New Zealand Government materially enhances the credibility
of the Project with prospective lenders, equity participants and other stakeholders.

Placement
2
and Share Purchase Plan
3
The Company completed a $7m equity raising in which it received binding commitments from
wholesale investors in the amount of $9.4m.
The oversubscriptions were scaled back to the approved total of $7m.
The Company completed a Share Purchase Plan from eligible shareholders on the same terms
as the placement targeting to raise a maximum of $3m.
Applications in the amount of $2.505m were received.
Commentary from Chairman, Phil Thick:
“The Company greatly appreciates the funding support from the NZ Government that,
together with the success of its equity raise, reflects investor confidence as it continues to
steadily achieve its key objective of bringing the Barrytown Project into production during
2028. The exceptional results, evidencing the quality of the mineral deposits reported in the
updated Mineral Resource Statement and significant progress made with the substantive
application for Fast Track resource consents, provides the Company with increased confidence
as it completes the Definitive Feasibility Study to secure the project funding to develop the
Barrytown Project.”


Cargill South Mineral Resource Estimate
4

Page 2 of 9
The Competent Person classified the Cargill South mineral resource to contain 9.3Mt at 14%
Total Heavy Mineral (THM) Measured and Indicated, and 0.4Mt at 7% THM Inferred in
compliance with JORC Code (2012).
This adds 1.36Mt of mineral resource to the Barrytown Minerals Project resource base.

Mineral Resource Statement
4

The Mineral Resource Estimate (MRE) for the Cargill South block, together with the previously
reported MREs for Coates South, Canoe Creek and Barrytown Farms blocks, enabled the
Competent Person to report a resource base for the Barrytown Project of 34.1Mt at 21% THM
Measured and Indicated, and 0.9Mt at 2.3% THM Inferred in compliance with JORC Code
(2012).
This is an exceptional THM grade and the project resource base supports the 20+year mine
life to be studied by the Definitive Feasibility Study.

Fast Track Substantive Application
5
The Company lodged its reply to comments received by the Expert Panel considering its Fast-
track application for the Southern Block of the Barrytown Critical Minerals Project together
with further information requested by the Panel.
The Company has met each deadline in the process to date and is on track for a decision due
8 December 2026.

Financial Commentary
The Company closed the September Quarter with $7.8M in cash. Details are provided in the
Quarterly Cash Flow Report below.

Upcoming News
December Quarter,
 Terms and Conditions for the RIF loan agreed
 Fast Track Decision
 Substantial Project Update issued

This Activities and Cashflow Report has been authorised by the Board of Directors of the
Company.
Notes
1. TCM:NZX Announcement 6 July 2026 “Government Funding Offer”
2. TCM:NZX Announcement 8 July 2026 “Completion of Placement + details of SPP”
3. TCM:NZX Announcement 19 August 2026 “SPP results of Offer”
4. TCM:NZX Announcement 12 October 2026 “Updated Mineral Resource Statement”
5. TCM:NZX Announcement 8 October 2026 “Fast Track Decision Due 8 December 2026”

Ends

Page 3 of 9
Mineral Resource Statement
Deposit Category
In-Situ
Mass (Mt)
Sand
4

(%)
In-Situ Grade (%)
5
Material Content (kt)
10

Ilmenite Garnet Zircon VHM
6
THM
7,8,9
Ilmenite Garnet Zircon VHM THM
Cargill
South
Measured 4.3 50.9 4.8 8.2 0.1 13.2 16 210 350 5 560 670
Indicated 5.0 57.7 3.7 6.3 0.1 10.1 13 180 320 4 510 660
Inferred 0.4 47.8 2.1 3.2 0.1 5.3 7 10 10 0 20 30
Total 9.7 54.3 4.1 7.0 0.1 11.2 14 400 680 9 1,090 1,360
Canoe
Creek
Measured 1.15 64.4 11.7 13.8 0.24 26 32 130 160 3 300 370
Indicated 1.7 64.2 6.8 9 0.16 16 21 120 150 3 270 360
Inferred 0.5 67 12 14 0.3 26 33 70 80 2 140 180
Total 3.4 64.7 9.3 11.5 0.2 21 27 320 390 7 710 910
Barrytown
Farms
Measured 7.7 80 7.8 10.6 0.2 18.7 24.9 610 820 14 1,440 1,920
Indicated 5.8 76 9.2 12.2 0.2 21.6 28.5 530 710 11 1,250 1,650
Inferred - - - - - - - - - - - -
Total 13.5 78 8.4 11.3 0.2 19.9 26.4 1,140 1,530 25 2,690 3,570
Coates
South
Measured 4.6 68.3 5.2 7.8 0.1 13.2 21 240 360 4 610 950
Indicated 3.8 66.4 5 6.4 0.1 11.5 19 190 240 4 440 710
Inferred - - - - - - - - - - - -
Total 8.4 67.4 5.1 7.2 0.1 12.4 20 430 610 8 1,040 1,660
Total
Measured 17.8 69.2 6.7 9.5 0.1 16.4 22 1,190 1,690 26 2,910 3,910
Indicated 16.3 66.8 6.3 8.7 0.1 15.2 21 1,020 1,420 22 2,470 3,380
M+I 34.1 68.0 6.5 9.1 0.1 15.8 21 2,210 3,110 48 5,380 7,290
Inferred 0.9 61.8 8.9 10.0 0.2 17.8 23 80 90 2 160 210
Total 35.0 67.9 6.6 9.2 0.1 15.9 21 2,290 3,200 50 5,540 7,500

Notes:
1. Estimates are rounded to reflect the level of confidence at the time of reporting.
2. The Mineral Resources are classified in accordance with the JORC Code (2012).
3. The Mineral Resources are reported at a 1% ilmenite grade cut-off.
4. Sand is defined as the particle size range of 45 μm to 2 mm.
5. In-situ grades are grades estimated for the particle size range 45 μm to 2 mm factored by the proportion of sand.
6. Valuable Heavy Minerals (VHM) % is the sum of ilmenite, garnet, and zircon.
7. Total heavy minerals (THM)% is calculated for each interval as sum of ilmenite, garnet, zircon, allanite, Fe-oxide, epidote,
rutile, titanite and monazite contained within the particle size range of 45 μm to 2 mm and estimated by OK.
8. For Canoe Creek, Barrytown Farms and Coates South, THM% was calculated from VHM grade for each block using a linear
regression based on the SEM data: -0.0043 × [VHM]² + 1.3811 × [VHM] + 2.2234.
9. For Coates South, Total Heavy Minerals (THM) % is calculated for each interval as [VHM] / 0.66 and estimated by OK.
10. The Material Content is reported within the sand fraction and rounded to the nearest 10 kt except zircon.
11. The Mineral Resource is reported on a dry tonnes basis.
12. The effective date of the Cargill South MRE is 11 October 2026.
13. The effective date of the Canoe Creek MRE is 4 May 2026.
14. The effective date of the Barrytown Farms MRE is 6 October 2023.
15. The effective date of the Coates South MRE is 10 February 2023.
16. Totals may vary due to rounding.

Page 4 of 9
COMPETENT PERSON’S STATEMENT
The information in this announcement that relates to Mineral Resources is based on and fairly
represents information and supporting documentation compiled under the supervision of the
Competent Persons, Michael Gazley (sampling and data quality) and Mathijs van de Ven
(domaining and resource estimation). Michael Gazley and Mathijs van de Ven consent to the
inclusion in the announcement of the matters based on this information in the form and
context in which it appears. The Competent Persons are employees of RSC Consulting and are
independent of Tāiko.
Michael Gazley is a Member of the AusIMM and a Member of the Australian Institute of
Geoscientists. Michael is the General Manager Geoscience and Exploration at RSC and holds
a PhD in Geology from Victoria University of Wellington, New Zealand. He is an expert in pXRF
data collection and interpretation, and in collecting, integrating, and interpreting diverse
chemical and mineralogical datasets using multivariate techniques in exploration and mining
settings. He has almost 20 years of experience working in a range of commodities globally,
including orogenic Au, epithermal Au, placer Au, shear-hosted Cu, IOCG, Cu-Au porphyry, Pb-
Zn-Ag deposits, Li and REE pegmatites, and HMS. Michael 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 ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves’.
Mathijs van de Ven is a Member of The Australasian Institute of Mining and Metallurgy
(AusIMM). Mathijs is a Senior Resource Geologist for RSC, a global resource development
consultancy, and holds an MSc in Geology and Geochemistry from the Vrije Universiteit in
Amsterdam. He has eight years of experience working in Au, base metal, and high-tech metal
exploration projects in Australia, New Zealand, Indonesia, and Papua New Guinea and has
authored and co-authored several peer-reviewed research papers. Mathijs has experience in
geological modelling, mineral resource estimation, code-compliant reporting and QA/QC
reviews, and has worked on resource estimates of orogenic, epithermal and porphyry Au,
VHMS Cu-Pb-Zn, skarn W, and HMS deposits. Mathijs 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
‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.
In addition to preparing the Mineral Resource estimate, Tāiko has also contracted RSC to
provide limited contracting and other advisory services. The full nature of the relationship
between RSC and Tāiko, including any issue that could be perceived by investors as a conflict
of interest, has been disclosed.

Page 5 of 9
Forward Looking Statement (s)
Statements relating to the estimated or expected future production, operating results, cash
flows and costs and financial condition of the work planned at the Company’s project and the
expected results of such work are forward-looking statements. Forward-looking statements
are statements that are not historical facts and are generally, but not always, identified by
words such as the following: expects, plans, anticipates, forecasts, believes, intends,
estimates, projects, assumes, potential and similar expressions. Forward-looking statements
also include reference to events or conditions that will, would, may, could or should occur.
Information concerning exploration results, metallurgical results and Mineral Resource
estimates may also be deemed to be forward- looking statements, as it constitutes a
prediction of what might be found to be present when and if a project is developed.
These forward-looking statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable at the time they are made, are inherently
subject to a variety of risks and uncertainties which could cause actual events or results to
differ materially from those reflected in the forward-looking statements.

Schedule of Tenements
Permit Ownership Status Registered Holder
Date
Granted
Expiry
Date
Tier
Area
(ha)
MP 60785 100% Active
TiGa Minerals and
Metals Limited
21 July
2022
20 July
2042
1 1250
EP 60917 100% Active
TiGa Minerals and
Metals Limited
19 April
2024
18 April
2029
2 245

Page 6 of 9
QUARTERLY CASH FLOW REPORT (UNAUDITED)
NAME OF ENTITY
TAIKO CRITICAL MINERALS LIMITED
COMPANY NUMBER QUARTER ENDED (“CURRENT QUARTER”)
5824110
30 SEPTEMBER 2026
CONSOLIDATED STATEMENT OF CASH FLOWS
Current quarter
(3 months)
$NZ’000
Year to Date
(6 months)
$NZ’000
1. Cash flows from operating activities
-

1.1 Receipts from customers -
1.2 Payments for
-


(a) exploration & evaluation expensed
(including resource consent) -
(b) development - -
(c) production - -
(d) staff costs - -
(e) administration and corporate costs (940) (1,987)
1.3 Dividends received - -
1.4 Interest received 7 10
1.5 Interest and other costs of finance paid - -
1.6 Income taxes paid - -
1.7 Government grants and tax incentives - -
1.8 Other (provide details if material) - -
1.9 Net cash from / (used in) operating activities (933) (1,977)
2. Cash flows from investing activities
-

2.1 Payments to acquire or for:
(a) deposits
-
(b) tenements - -
(c) property, plant and equipment (40) (40)
(d) exploration & evaluation (capitalised) (798) (2,079)
(e) investments - -
(f) other non-current assets - -
2.2 Proceeds from the disposal of:
-

(a) entities -
(b) tenements - -

Page 7 of 9
(c) property, plant and equipment - -
(d) investments - -
(e) other non-current assets - -
2.3 Cash flows from loans to other entities - -
2.4 Dividends received (see note 3) - -
2.5 Other - -
2.6 Net cash from / (used in) investing activities (838) (2,119)
3. Cash flows from financing activities


3.1
Proceeds from issues of equity securities
(excluding convertible debt securities) 9,504

9,504
3.2
Proceeds from issue of convertible debt
securities - -
3.3 Proceeds from exercise of options - -
3.4
Transaction costs related to issues of equity
securities or convertible debt securities (449) (449)
3.5 Proceeds from borrowings net of costs - -
3.6 Repayment of finance lease - -
3.7
Transaction costs related to loans and
borrowings - -
3.8 Dividends paid - -
3.9 Other - -
3.10 Net cash from / (used in) financing activities 9,055 9,055
4. Net increase / (decrease) in cash and cash
equivalents for the period

4.1
Cash and cash equivalents at beginning of
period 526

2,851
4.2
Net cash from / (used in) operating activities
(item 1.9 above) (933)

(1,977)
4.3
Net cash from / (used in) investing activities
(item 2.6 above) (838)

(2,119)
4.4
Net cash from / (used in) financing activities
(item 3.10 above) 9,055

9,055
4.5
Effect of movement in exchange rates on cash
held
- -
4.6 Cash and cash equivalents at end of period 7,811 7,811

Page 8 of 9
5. RECONCILIATION OF CASH AND CASH
EQUIVALENTS

AT THE END OF THE QUARTER (AS SHOWN IN THE
CONSOLIDATED STATEMENT OF CASH FLOWS
) TO THE
RELATED ITEMS IN THE ACCOUNTS

Current quarter
$NZ’000
Previous quarter
$NZ’000
5.1 Bank balances 7,811 526
5.2 Call deposits - -
5.3 Bank overdrafts - -
5.4 Other (provide details) - -
5.5
Cash and cash equivalents at end of quarter
(should equal item 4.6 above) 7,811 526

6. PAYMENTS TO RELATED PARTIES OF THE ENTITY AND THEIR ASSOCIATES
Current quarter
$NZ'000
6.1
Aggregate amount of payments to related parties and their associates
included in item 1
59
6.2 Aggregate amount of payments to related parties and their associates
included in item 2
-


7. FINANCING FACILITIES
NOTE: THE TERM “FACILITY’ INCLUDES ALL FORMS OF FINANCING
ARRANGEMENTS AVAILABLE TO THE ENTITY
.
A
DD NOTES AS NECESSARY FOR AN UNDERSTANDING OF THE SOURCES
OF FINANCE AVAILABLE TO THE ENTITY
.
Total facility amount
at quarter end
$NZ’000
Amount drawn at
quarter end
$NZ’000
7.1 Loan facilities - -
7.2 Credit standby arrangements - -
7.3 Other (please specify) – unsecured loan - -
7.4 Total financing facilities - -
7.5 Unused financing facilities available at quarter end Nil
7.6
Include in the box below a description of each facility above, including the lender, interest rate,
maturity date and whether it is secured or unsecured. If any additional financing facilities have been
entered into or are proposed to be entered into after quarter end, include a note providing details
of those facilities as well.

Page 9 of 9
8. ESTIMATED CASH AVAILABLE FOR FUTURE OPERATING ACTIVITIES $NZ’000
8.1 Net cash from / (used in) operating activities (item 1.9) (933)
8.2
(Payments for exploration & evaluation classified as investing activities)
(item 2.1(d))
(798)
8.3 Total relevant outgoings (item 8.1 + item 8.2) (1,731)
8.4 Cash and cash equivalents at quarter end (item 4.6) 7,811
8.5 Unused finance facilities available at quarter end (item 7.5) -
8.6 Total available funding (item 8.4 + item 8.5) 7,811
8.7
Estimated quarters of funding available (item 8.6 divided by item 8.3)

4.5
Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”.
Otherwise, include a figure for the estimated quarters of funding available in item 8.7.

8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions:
8.8.1 Does the entity expect that it will continue to have the current level of net operating cash
flows for the time being and, if not, why not?
Answer: N/A
8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to
fund its operations and, if so, what are those steps and how likely does it believe that they
will be successful?
Answer: N/A
8.8.3 Does the entity expect to be able to continue its operations and to meet its business
objectives and, if so, on what basis?
Answer: N/A
COMPLIANCE STATEMENT
1 This statement has been prepared in accordance with accounting standards and policies.
2 This statement gives a true and fair view of the matters disclosed.


Date: 22 October 2026
Authorised by: The Board of Directors