Highfield Resources (HFR) investor relations material

Executive summary

• Received third tranche of A$10 million investment secured in October 2025, supporting ongoing project and permitting activities.

• Focused on advancing the Muga Potash mine in northern Spain, with permitting appeal for the Goyo concession still pending a Supreme Court decision.

• Disciplined cash management led to a 30% reduction in monthly payroll and further cost-saving measures.

Financial highlights

• Cash at bank was A$2.28 million as of 31 March 2026.

• Net cash used in operating activities for the quarter was A$2.72 million.

• Net cash from financing activities was A$1.85 million, primarily from convertible note proceeds.

• Payments to related parties totaled A$156k, relating to director salaries and fees.

Outlook and guidance

• Market sentiment remains sensitive to geopolitical developments, especially in the Middle East, which could impact potash prices.

• Medium-term outlook for potash remains constructive due to constrained supply growth and resilient agricultural demand.

• Company expects a material reduction in operating cash outflows in the next quarter due to cost-saving initiatives.

• Plans to draw down the remaining A$4.84 million of the secured investment between May and September 2026, subject to conditions.