Announcement PDF Rule 5.5 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Name of entity HORIZON MINERALS LTD ABN Quarter ended (“current quarter”) 88 007 761 186 30 June 2025 Consolidated statement of cash flows Current quarter $A’000 Year to date (12 months) $A’000 27,480 34,329 81 296 (426) (4,122) - - (c) production (27,008) (40,993) (d) staff costs (1,040) (3,592) (722) (2,091) - - 16 115 (208) (777) 1. Cash flows from operating activities 1.1 Receipts from customers (a) Gold sales (b) Other 1.2 Payments for (a) exploration & evaluation (b) development (e) administration and corporate costs 1.3 Dividends received (see note 3) 1.4 Interest received 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) (18) (89) (1,845) (16,924) (a) entities - - (b) tenements - - (c) property, plant and equipment (132) (555) (d) exploration & evaluation (573) (2,282) (a) Other 1.9 Net cash from / (used in) operating activities 2. Cash flows from investing activities 2.1 Payments to acquire or for: ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 1 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Consolidated statement of cash flows Current quarter $A’000 Year to date (12 months) $A’000 (e) investments - - (f) - 461 (a) entities - - (b) tenements - 125 (c) property, plant and equipment - - (d) investments - 2,405 (e) other non-current assets - - 2.3 Cash flows from loans with other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (Mine Property Development) - (5,993) Other (Funds received in advance from JV partner) 1,518 1,518 Other (Stamp Duty relating to the acquisition of Greenstone Resources Ltd) (259) (259) Other (Transaction costs relating to the acquisition of Poseidon Nickel Ltd) (42) (980) 2.6 Net cash from / (used in) investing activities 512 (5,560) 3. Cash flows from financing activities 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 11,819 35,644 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options 2 45 3.4 Transaction costs related to issues of equity securities or convertible debt securities (734) (1,914) 3.5 Proceeds from borrowings - - 3.6 Repayment of borrowings - - 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other (provide details if material) (52) (91) 3.10 Net cash from / (used in) financing activities 11,035 33,684 2.2 other assets (cash acquired upon acquisition of Poseidon Nickel Ltd) Proceeds from the disposal of: ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 2 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Consolidated statement of cash flows Current quarter $A’000 Year to date (12 months) $A’000 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 5,999 4,501 4.2 Net cash from / (used in) operating activities (item 1.9 above) (1,845) (16,924) 4.3 Net cash from / (used in) investing activities (item 2.6 above) 512 (5,560) 4.4 Net cash from / (used in) financing activities (item 3.10 above) 11,035 33,684 4.5 Effect of movement in exchange rates on cash held - - 4.6 Cash and cash equivalents at end of period 15,701 15,701 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 5.1 Bank balances 5.2 Current quarter $A’000 Previous quarter $A’000 15,701 5,999 Call deposits - - 5.3 Bank overdrafts - - 5.4 Other - exploration bond - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 15,701 5,999 6. Payments to related parties of the entity and their associates 6.1 Aggregate amount of payments to related parties and their associates included in item 1 37 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Current quarter $A'000 Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 3 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end US$ ’000 Amount drawn at quarter end US$ ’000 US$5,000 US$5,000 7.1 Loan facilities 7.2 Credit standby arrangements - - 7.3 Other (please specify) - - 7.4 Total financing facilities US$5,000 US$5,000 7.5 Unused financing facilities available at quarter end - AUD:USD conversion rate of 0.663873 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. Nebari Convertible Loan Facility key terms US$5m facility • US$5m loan funds secured on a first lien basis • Tranche 1 of US$2m funded on the closing date • Tranche 2 of US$3m funded on 13/06/23 • The Principal amount of the Convertible Loan Facility is net of 2% original issue discount • Loan term of 42 months from the closing date • Convertible Coupon of 7% plus term SOFR Delta payable monthly in arrears • Interest is capitalised for the first 8 months from the closing date • Amortised via a bullet repayment on the maturity date of the loan (subject to conversion) • Up to 100% of the principal funds plus any accrued and unpaid interest will be convertible into Horizon shares at the conversion price at the lender’s election • The conversion price is equal to a 25% premium to the 15-day Volume Weighted Average Price of the Company’s share price at the lower of the date of the signing of the term sheet, the execution of definitive financing documents or the date of this public announcement of the loan facilities, subject to anti-dilution adjustments. • The Company has the right to make early repayments, subject to the issue of options in a number and value equal to 100% of the prepayment amount. The options will have an exercise price equal to the conversion price and an expiry date of the later of 18 months and the maturity date • Horizon is to pay a 1.5% arrangement fee to the lender on both the Tranche 1 funds and Tranche 2 funds • No hedging requirements ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 4 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) 8.2 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) 8.3 Total relevant outgoings (item 8.1 + item 8.2) (2,418) 8.4 Cash and cash equivalents at quarter end (item 4.6) 15,701 8.5 Unused finance facilities available at quarter end (item 7.5) 8.6 Total available funding (item 8.4 + item 8.5) 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) (1,845) (573) 15,701 6.49 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, a figure for the estimated quarters of funding available must be included 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 Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered. Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. Date: 31 July 2025 Authorised by: By order of the board (Name of body or officer authorising release – see note 4) Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 5 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report 4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively. ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 6