Frontier Energy (FHE) H1 2026 earnings summary

Executive summary

• Advanced the Waroona Renewable Energy Project, one of Western Australia's largest hybrid renewable energy projects, with Stage One comprising a 132MW solar farm and 81.5MW battery.

• Completed board and leadership changes to support transition to project financing and construction.

• Secured $280 million in credit-approved project finance debt facilities and raised $110 million in equity to fund Stage One construction.

• Appointed Monford Group as EPC contractor and commenced detailed design and mobilisation preparations.

• Disposed of the Superior Lake Zinc and Copper Project in Canada for $2.27 million, recognising a gain on disposal.

Financial highlights

• Net income for the half-year ended 30 June 2026 was $75,896, including $2,265,213 net profit from discontinued operations (Superior Lake Project).

• Cash at banks increased to $7,970,290 as of 30 June 2026, up from $5,587,807 at 31 December 2025.

• Total assets rose to $96,594,556 from $90,434,907 at year-end 2025.

• Share capital increased to $132,060,075 following new share issues.

• Basic and diluted earnings per share for the half-year were 0.01 cents (vs. loss of 0.04 cents per share in prior period).

Outlook and guidance

• Focus remains on progressing the Waroona Project through construction and commissioning, with significant expansion potential due to extensive landholdings and grid access.

• Project finance and equity funding secured, with construction activities scheduled to ramp up in the second half of 2026.