European Lithium (EUR) Q4 2026 TU earnings summary

Executive summary

• Entered into a binding Scheme Implementation Deed for 100% acquisition by Critical Metals Corp (CRML) via a court-approved scheme of arrangement in exchange for CRML shares.

• Government of Greenland approved transfer of remaining 50.5% interest in Tanbreez Rare Earth Project to CRML, increasing its ownership to 92.5%.

• CRML launched a US$30 million Project Acceleration Plan, advancing drilling, pilot plant bulk sampling, and acquisition of a Greenlandic mining contractor.

• Announced acquisition of Velta Holding, a US-based titanium company with assets in Ukraine, for 173 million shares, expanding into titanium and critical materials.

Financial highlights

• Cash balance at 30 June 2026 was $296.3 million.

• Net cash from operating activities for the quarter was $2.16 million; year-to-date net cash used in operating activities was $(7.49) million.

• Net cash from investing activities for the quarter was $(0.88) million; year-to-date $264.19 million.

• Net cash from financing activities for the quarter was $(10.06) million; year-to-date $34.80 million.

• Proceeds from sale of listed shares during the quarter totaled $2.3 million.

Outlook and guidance

• Drilling and exploration activities ongoing at Tanbreez Project, with additional drilling capacity being mobilised for the remainder of 2026.

• Commercial shipments under a 15-year offtake agreement with REalloys Inc. expected to commence following start of production at Tanbreez.

• Wolfsberg Project progressing towards operational readiness, with energy corridor construction expected to commence in H2 2025.

• JV with Obeikan Investment Group advancing design of a lithium refinery in Saudi Arabia, targeting up to 20,000 metric tonnes of battery-grade lithium hydroxide.