Announcement PDF Rule 5.5 ASX Listing Rules Appendix 5B (17/07/20) Page 1 + See chapter 19 of the ASX Listing Rules for defined terms. 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 31 December 2025 Consolidated statement of cash flows Current quarter $A’000 Year to date (6 months) $A’000 1. Cash flows from operating activities 1.1 Receipts from customers (a) Gold sales 28,223 70,118 (b) Other 56 252 1.2 Payments for (410) (584) (a) exploration & evaluation (b) development - - (c) production (24,526) (61,772) (d) staff costs (1,848) (2,911) (e) administration and corporate costs (1,370) (2,494) 1.3 Dividends received (see note 3) - - 1.4 Interest received 67 122 1.5 Interest and other costs of finance paid (160) (283) 1.6 Income taxes paid - - 1.7 Government grants and tax incentives - - 1.8 Other (provide details if material) (a) Funds received in advance from JV partner excluding GST - 3,636 (b) Other (5) (18) 1.9 Net cash from / (used in) operating activities 27 6,066 2. Cash flows from investing activities - - 2.1 Payments to acquire or for: (a) entities (b) tenements (1,200) (1,200) (c) property, plant and equipment (284) (410) Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 2 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (6 months) $A’000 (d) exploration & evaluation (5,363) (9,195) (e) investments - - 2.2 Proceeds from the disposal of: - - (a) entities (b) tenements - - (c) property, plant and equipment 18 18 (d) investments - - (e) other non-current assets (Non- refundable deposit received on the sale of the Lake Johnston asset excluding GST) 10,000 10,000 2.3 Cash flows from loans with other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (Mine Property Development) - - Other (Stamp Duty relating to the acquisition of Greenstone Resources Ltd) - (517) 2.6 Net cash from / (used in) investing activities 3,171 (1,304) 3. Cash flows from financing activities - 18,181 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options 16 16 3.4 Transaction costs related to issues of equity securities or convertible debt securities (50) (1,085) 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 Repayment of lease liabilities (26) (80) 3.10 Net cash from / (used in) financing activities (60) 17,032 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 3 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (6 months) $A’000 4. Net increase / (decrease) in cash and cash equivalents for the period 3,138 21,794 4.1 Cash and cash equivalents at beginning of period 34,357 15,701 4.2 Net cash from / (used in) operating activities (item 1.9 above) 27 6,066 4.3 Net cash from / (used in) investing activities (item 2.6 above) 3,171 (1,304) 4.4 Net cash from / (used in) financing activities (item 3.10 above) (60) 17,032 4.5 Effect of movement in exchange rates on cash held - - 4.6 Cash and cash equivalents at end of period 37,495 37,495 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 $A’000 Previous quarter $A’000 5.1 Bank balances 37,495 34,357 5.2 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) 37,495 34,357 6. Payments to related parties of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1 184 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - The amount reported in item 6.1 relates to Directors’ fees ($169,195) and statutory superannuation ($14,400) Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 4 + See chapter 19 of the ASX Listing Rules for defined terms. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end US$ ’000 Amount drawn at quarter end US$ ’000 7.1 Loan facilities - - 7.2 Credit standby arrangements - - 7.3 Other (please specify) - - 7.4 Total financing facilities - - 7.5 Unused financing facilities available at quarter end - 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. During the period the Nebari Convertible Loan Facility was fully extinguished upon the final conversion of notes to Horizon shares. 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) 27 8.2 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) (5,363) 8.3 Total relevant outgoings (item 8.1 + item 8.2) (5,336) 8.4 Cash and cash equivalents at quarter end (item 4.6) 37,495 8.5 Unused finance facilities available at quarter end (item 7.5) - 8.6 Total available funding (item 8.4 + item 8.5) 37,495 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) 7.03 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. Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 5 + See chapter 19 of the ASX Listing Rules for defined terms. 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: 30 January 2026 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. 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.