Announcement PDF Annual Report & ESG Report 2026 Leading the way in the renewable energy transition Acknowledgement of Country Critical Minerals Group acknowledges the Traditional Custodians of the lands on which we operate. We recognize the Miajabi (Mayi-Yapi), Ngawan, Mycoolon and Wanamara people and the Mayi and Mitakoodi people who are the Traditional Owners of the land on which our tenements are located; and the Turrbal and Jagera Peoples, Traditional Owners of the Brisbane region. We pay our respects to elders past and present. Annual Report FY26 | 1 Company Overview 2 Letters to Shareholders 3 Director’s Report 6 Remuneration Report 20 Auditor’s Independence Declaration 25 ESG Report 26 Financial Report 39 Auditors’ Report 66 TABLE OF CONTENTS Partnerships 2026 Achievements  Vanadium Electrolyte facility – development approved and construction ready  Teaming Agreement signed with Accenture  VFB, renewable off-grid power solution designed for Lindfield mine  24mil litre Vanadium Electrolyte facility designed  Successful pre-feasibility study – Lindfield mine, processing and VE plant  VE and V205 offtake negotiations commenced  USA site selection complete for VE facility  UK site selection complete for VE facility  Prequalification of CMG VE commenced  Xxx Annual Report FY26 | 2 Purpose To support global communities through an energy transition that will deliver a more sustainable and responsible future Vision We will be known as the leading provider of high-quality reliable energy storage solutions delivering robust returns through our fully integrated and controlled vanadium supply chain Strategy Upstream supply security  Vanadium pentoxide production  Vanadium electrolyte manufacturing  Extract value added by-products Downstream value creation  Vanadium Battery Energy Storage Systems (BESS) solutions  Integrated supply chain  Commercial and industrial market Sustainable delivery  Integrating ESG within business deliverables  Vanadium BESS powering CMG  Traditional Owners involvement FY26 Objectives  Continued establishing a pipeline of VFB potential projects  Completed the PFS for the Lindfield Project and associated pilot test work  Designed a small scale and large-scale VE facility ready for construction  Partnered with Accenture to support the growth and pipeline for VFB solution for data centre and energy transition customers FY27 Objectives  Progress DFS for Lindfield Mine and VE plant  Complete Pilot scale test work to manufacture V205  Negotiate offtake of Lindfield V205 and VE  Secure project status for Lindfield vanadium project  Commence project funding conversations for Lindfield and VE plant to support FID Company Overview Letters to Shareholders Annual Report FY26 | 3 Chairman’s Letter Dear Shareholders, It is my pleasure to present the Critical Minerals Group (CMG) Annual Report for the 2026 financial year. This has been a transformative year for the company, headlined by the delivery of the Pre-Feasibility Study (PFS) for our flagship Lindfield Vanadium Project and continued momentum in building an integrated, mine-to-battery vanadium business. Our vision remains clear: to establish an integrated vanadium supply chain that supports the delivery of Vanadium Flow Battery (VFB) energy storage solutions at scale. Under the leadership of CEO Scott Winter, FY26 delivered on that vision in concrete terms. In July 2026 we announced the results of the PFS for the preferred 3 million tonne per annum mine development and 74mil litre vanadium electrolyte plant scenario, confirming a pre-tax net present value of A$821 million and a pre-tax internal rate of return of 26.6%, over an estimated 31-year mine life. These results reaffirm the quality of the Lindfield resource and the strength of the integrated strategy that underpins it. The PFS also confirmed a staged development pathway: our Vanadium Electrolyte manufacturing facility at the Parkes Special Activation Precinct in New South Wales is planned to be the first asset brought into production, using third-party feedstock ahead of first output from Lindfield. This sequencing is designed to bring forward revenue and de-risk the path to a Final Investment Decision, which the Board is targeting for calendar year 2027. Work has now turned to the Definitive Feasibility Study, with drilling, metallurgical test work, engineering and approvals activity all under way. The case for vanadium flow battery storage has only strengthened over the past year. The rapid build-out of data centres to support artificial intelligence, alongside the broader expansion of renewable generation, is driving unprecedented demand for long-duration, grid-scale energy storage. VFB technology, with its inherent safety and long operating life, is well placed to meet this demand, and CMG is well positioned to supply the electrolyte that underpins it. Strategic partnerships remain a cornerstone of our approach. Our relationship with Idemitsu continues to mature, and this year we welcomed Accenture's support in advancing the design and delivery of our downstream VFB energy storage business. We have also deepened engagement with both the Queensland and Federal Governments, and progressed discussions with global battery leaders, technology partners and investment stakeholders, including through direct engagement in the United States. To support this work, the company undertook further capital markets activity during the year, and we thank our shareholders for their continued support of these initiatives. At our General Meeting in November 2026, shareholders will be asked to consider a number of resolutions important to the company's ongoing development, and I encourage all shareholders to participate. Sustainability remains central to how we operate. We are committed to supporting the global energy transition while maintaining high standards of environmental stewardship, safety and community engagement, and the work undertaken in FY26 reflects our continued focus on responsible growth across the regions in which we operate. Looking ahead, FY27 will be a defining year for CMG as we advance the Definitive Feasibility Study, progress towards a Final Investment Decision, and continue to build the partnerships needed to bring first revenue forward from 2028. With a strengthened technical and commercial foundation, a growing pipeline of opportunities, and an experienced team, CMG is well positioned to capture the benefits of a rapidly expanding global market for vanadium-based energy solutions. Yours sincerely, Alan Broome, AM Chair Letters to Shareholders Annual Report FY26 | 4 Chief Executive Officer’s Letter Dear Shareholders, Thank you to the Board and management for the support over FY26. It was a significant year and one where Lindfield moved from concept to becoming a prospective project. FY26 saw us complete a successful Prefeasibility Study of our Lindfield Vanadium resource in Julia Creek together with a vanadium electrolyte facility planned for development in Parkes New South Wales. The PFS highlighted an integrated development with a pre-tax NPV of $821 million, a pre-tax IRR of 26.6%, and a 31 year mine life at 3 million tonnes a year of ore feed. This is a great achievement, one that the team had worked on for most of the year and the results show a tremendous outcome. It has also been a difficult year supporting the activities with the necessary funding. We raised capital twice to keep the study work moving, our cash balance sat lower than we had hoped for and the federal IPICM grant was suspended due to external and uncontrollable impacts with the QRCUF being late to commission. The Pre-Feasibility Study, released in July was CMG’s major headline for 2026. It confirmed a 3 Mtpa preferred development case for the Lindfield mine near Julia Creek in North-West Queensland, paired with a vanadium electrolyte manufacturing facility at the Parkes Special Activation Precinct in NSW. The Mineral Resource Estimate underpinning this is 713 million tonnes at 0.32% V₂O₅, split 491 million tonnes indicated and 222 million tonnes inferred. This is a resource of genuine scale and one that in our Definitive Feasibility Study, we plan to expand and upgrade into reserves. A key part of CMG’s strategy is to stage the development. Rather than waiting for the mine to fund the electrolyte facility, we plan to bring the VE plant online first, using third party vanadium pentoxide feedstock, and transition to our own production once Lindfield is developed. This strategy potentially moves our expected first revenue forward to 2028 and materially reduces our peak funding exposure of $736 million. It's a more capital efficient path, and it's the one the Board has endorsed. To progress our offtake opportunities, we signed a Teaming Agreement with Accenture in December 2025 to assess a pipeline of Australian VFB projects which paired our midstream vanadium electrolyte development with their supply chain and engineering capability. We also saw the significant opportunity and shift in demand from AI driven data centre growth, where the long duration, non-flammable characteristics of VFB’s are becoming commercially relevant to hyperscale operators facing years long grid interconnection queues. We had and continue to develop offtake discussions on the back of that thematic and see FY2027 as a significant growth in this area. Corporately, we ran an AGM in November and a General Meeting in February with every resolution passed, and I spent time in Washington DC in April and May at the EXIM Bank and SelectUSA conferences building relationships with US agencies around funding and development. We also achieved grant milestones in August that released $900,000 in government support during the year. We funded the year with two capital raises, a $2.0 million placement in November at $0.15 a share, and a two- tranche placement in June and July totalling roughly $1.5 million before costs. Across the year our cash position moved from $1.26 million to $823k at 30 June. A setback faced in 2026 was the IPCM Federal Grant, which is currently suspended because of delays in the Townsville based QRCUF shared processing facility that some of our milestones were tied to. That is outside our control, and we are working through alternative funding options with the Department. The Definitive Feasibility Study is CMG’s primary focus in FY27. As part of the DFS there are three focus streams which include a) completing the metallurgical pilot plant programme b) locking in long-term, competitively priced reagent supply, and c) advancing government concessional finance alongside binding offtake negotiations to give the project pricing certainty Alongside our DFS we will progress the necessary environmental studies and approvals, a key component of the critical path. Our target is for a Final Investment Decision in calendar year 2027. Letters to Shareholders Annual Report FY26 | 5 Chief Executive Officer’s Letter (cont.) Funding the DFS and the path to FID will draw on a mix of funding arrangements, some of which are well progressed. We will also expand on our discussions with concessional facilities including NAIF, NRF, EFA and the Critical Minerals Facility along with US government incentive funding. The US and European AI driven data centre growth is sparking significant offtake interest, and we will continue to progress these opportunities as we know that binding offtake is what turns a good feasibility study into a financeable project. To our shareholders who backed the placements this year, to our employees who kept metallurgical test work, environmental studies and government engagement moving in parallel with the PFS, and to the government partners and Accenture who continue to support, thank you. We asked a lot of the balance sheet in FY26 to get the PFS across the line, and it delivered. FY27 is about converting that study into a bankable project. Yours sincerely Scott Winter Former Chief Executive Officer and Managing Director Annual Report FY26 | 6 Director’s Report Contents Review of Operations and Principal Activities 8 Group Projects 11 Company Activities 14 Information on Directors 16 Remuneration Report 20 Auditor’s Independence Declaration 25 Directors’ Report Annual Report FY26 | 7 Your directors present their report on Critical Minerals Group Limited (“theCompany”) and its controlled entities (“the Group”), for the financial year ended 30 June 2026 (FY26). Directors and Company Secretary The names of the directors in office at any time during or since the end of FY26 are:  Alan Broome, AM  ScottWinter Resigned 1 September 2026  StevenKovac  StuartMcClure Directors continue or were in office from the start of FY26 to the date of this report unless otherwise stated. Registered Office The Company’s registered office and principal place of business is: Level 15 100 Edward Street, Brisbane QLD 4000 The Company’s phone number and email address is: Phone: (07) 3132 3504 Email: info@criticalmineralsgroup.com.au Directors’ Report Annual Report FY26 | 8 Review of Operations and Principal Activities This Directors' Report contains a review of the Group's operations, including information on exploration activity and results, financial position, strategies, and projects of the Group for FY26. During FY26, the Company completed two placements of ● 13,433,334 ordinary shares at $0.15 per share raising $2.0 million before costs, and ● 15,596,652 ordinary shares at $0.0725 per share raising $1.3 million before costs The Group's financial position, financial performance, use of funds and changes in equity information for FY26 is provided in the financial statements that follow this Directors' Report. The Group incurred a loss of $3,819,940 for FY26, resulting from administration expenses, professional and consulting fees and employee costs. The Company, as an exploration and development entity, has no operating revenue. The performance of the Group, in the Directors' opinion, is based on the success of the exploration and development activities and the acquisition of mining interests by the Group. The Company is pleased to provide an update on activities completed during FY26. The Company is a chemical and energy company focused on developing an end-to-end vanadium supply chain to supply vanadium electrolyte for vanadium flow battery (VFB) energy storage solutions. As part of its business model, CMG has focused on three distinct segments: Upstream (Vanadium Pentoxide production), Midstream (Vanadium Electrolyte manufacturing), and Downstream (VFB energy storage support). During FY26, significant progress was made across all the business streams, culminating in the delivery of a Pre-Feasibility Study for the integrated Lindfield Vanadium Project shortly after year end. Upstream Vanadium Pentoxide Production CMG progressed the Lindfield Vanadium Project through pilot scale metallurgical test work, further Environmental Impact Statement (EIS) field studies, and geological review, culminating in the completion of a Pre-Feasibility Study (PFS) for an integrated mine and electrolyte manufacturing operation. Metallurgical and geological review work during FY26 confirmed the presence of highly weathered, friable, high-grade mineralisation at Lindfield, supporting a shallow, low strip-ratio, open-cut mining method that is expected to simplify the mining and processing flowsheet and support a lower cost base than earlier studies had assumed. The PFS is underpinned by a Mineral Resource Estimate of 713 million tonnes at 0.32% V2O5, comprising 491 million tonnes of Indicated and 222 million tonnes of Inferred Mineral Resources. Further drilling is planned in 2027 during the DFS phase to increase geological confidence and support a maiden Ore Reserve. Metallurgical test work progressed the Lindfield flowsheet from bench through pilot scale during the year, covering beneficiation by flotation, acid leaching, solvent extraction and final product precipitation, together with test work on settling, thickening and filtration performance across the main product and waste streams. The flowsheet was locked down for the PFS, targeting a product specification of at least 99.5% vanadium pentoxide purity, with further optimisation opportunities identified for the DFS phase. Improved recycling and re-use of water through the circuit, a key outcome of the year's test work, reduced evaporative losses and lowered the volume of new water required for the operation on an annual basis. Field studies for the Lindfield EIS continued during the year, including surface water sampling, soil sampling, noise surveys and further ecological surveys, together with desktop cultural heritage assessments. CMG continued its engagement with the Traditional Owners of the area, building on the relationship established in FY25, with planning progressing for a full heritage field survey of the Lindfield project area. CMG progressed applications for Coordinated Project Status with the Queensland Government and continued pre-lodgment engagement with the Federal Government in respect of the EPBC referral required as a result of matters of national environmental significance identified at Lindfield, including the Julia Creek Dunnart. Directors’ Report Annual Report FY26 | 9 Review of Operations and Principal Activities (cont.) In a significant milestone reached shortly after year end, on 20 July 2026 the Company announced the completion of the Pre-Feasibility Study for the Lindfield Vanadium Project. The PFS assessed an integrated development combining a 3 million tonnes per annum open-cut mine near Julia Creek with a vanadium electrolyte manufacturing facility in New South Wales, and delivered a pre-tax Net Present Value of $821 million and pre-tax Internal Rate of Return of 26.6% (post-tax NPV of $458 million and post-tax IRR of 18%) for the preferred development scenario, with an estimated 31 year mine life, average annual vanadium pentoxide production of approximately 10,500 tonnes over the first 16 years, total capital expenditure of approximately $981 million, a peak funding requirement of $736 million and a payback period of seven years. Following these results, the Board intends to advance the project to a Definitive Feasibility Study, targeting a Final Investment Decision in calendar year 2027. Reflecting CMG's capital-efficient, market driven development strategy, the PFS confirmed a staged approach under which the Parkes vanadium electrolyte facility is brought into production ahead of the Lindfield mine, initially using third party vanadium pentoxide feedstock to bring forward first revenue and reduce peak funding exposure. Once Lindfield is developed, CMG expects to transition its electrolyte facilities to its own vanadium pentoxide production, with investment in each stage supported by binding product offtake agreements. Following the PFS, the Board endorsed three priority workstreams to advance the Project into the DFS which included the completion of the metallurgical pilot plant programme to confirm and improve vanadium recovery, securing long-term, competitively priced supply agreements for processing reagents including sulphuric acid, and advancing government concessional finance applications alongside binding offtake negotiations to establish pricing certainty and support project financing. The Production Target underpinning the PFS includes both Indicated and Inferred Mineral Resources, and further drilling is planned during the DFS phase to increase geological confidence and support a maiden Ore Reserve. Investors should note that the PFS and the information above contain forward-looking statements which are subject to known and unknown risks, uncertainties and assumptions, and actual results may differ materially. Nothing in this report should be taken as a guarantee of future performance. Midstream Vanadium Electrolyte Manufacturing CMG progressed development of its demonstration vanadium electrolyte facility at Crestmead in the City of Logan, southeast Queensland, securing development approval for the one million litre per annum facility during the year. Front-End Engineering Design (FEED) work, completed with Sedgman in FY25, together with continued detailed design and procurement planning through FY26, progressed the Crestmead facility to a construction-ready state. CMG subsequently incorporated the vanadium electrolyte plant into the overall Lindfield PFS to evaluate the complete, integrated value chain from mine to finished VE product. As part of this work, the Company assessed a larger, Phase 1 facility with a targeted capacity of 24 million litres per annum against the original Crestmead design, with the Parkes Special Activation Precinct in New South Wales identified as the preferred location following a location study weighing logistics and proximity to end-use markets. The decision to prioritise the larger facility was driven by two factors 1) a growing market demand for vanadium electrolyte, as the case for VFBs as a firming and long-duration storage solution for AI-driven data centre load strengthened over the year, and 2) a materially improved capital efficiency, with the larger facility expected to lower the unit cost of VE production and deliver a stronger overall financial return than the original, smaller design. CMG accordingly paused further expenditure on the original small-scale Crestmead facility in favour of advancing the larger, PFS-supported design, while also assessing potential sites in the United States and United Kingdom as part of its strategy to position vanadium electrolyte supply close to international end-use markets. Directors’ Report Annual Report FY26 | 10 Review of Operations and Principal Activities (cont.) Consistent with the PFS's staged, capital-efficient development strategy, CMG intends to bring the Parkes VE facility into production ahead of the Lindfield mine, initially processing third-party sourced vanadium pentoxide feedstock. This approach is designed to bring forward first product revenue, build customer relationships and offtake support ahead of Lindfield's larger capital commitment, and materially reduce the Group's peak funding requirement relative to a single, simultaneous development of the mine and VE facility. The supply arrangement for third-party vanadium pentoxide feedstock, secured in FY25 to support this initial electrolyte production, remained in place throughout FY26. Once Lindfield is developed, CMG expects to transition its VE manufacturing facilities to its own vanadium pentoxide production, with investment in each stage of development supported by binding product offtake agreements. Downstream: VFB Energy Storage Solutions CMG continued to build momentum in its downstream VFB strategy during FY26, strengthening engagement with technology partners, prospective customers and grid operators as global demand for long-duration energy storage has continued to grow. In December 2025, the Company signed a Teaming Agreement with Accenture to jointly assess a pipeline of potential Australian vanadium flow battery projects, combining CMG's mine-to-market vanadium strategy with Accenture's project delivery and technology integration capability. CMG also engaged in the South Australian Firm Energy Reliability Mechanism tender process to refine the technical and commercial parameters for grid- connected VFB systems, and identified further opportunities in commercial and industrial markets, including the Kalgoorlie Vanadium Flow Battery initiative. A key theme through the year has been the growing recognition of vanadium flow batteries as a candidate long- duration storage technology for data centre and AI-driven power demand. The rapid growth in computing infrastructure has intensified the need for reliable, scalable and safe energy storage capable of supporting always on loads, a profile that VFB technology, with its long cycle life and non-flammable chemistry, is well placed to service alongside the broader transition to renewable generation. CMG has continued to build its project pipeline accordingly, progressing offtake discussions with both vanadium flow battery manufacturers and data centre counterparties. These developments demonstrate continued momentum in CMG's downstream strategy. By combining local partnerships with international expertise, CMG is building the foundations of a sustainable and scalable energy storage business, underpinned by the integrated upstream and midstream progress made during the year. Tenements and Projects The Group has maintained their strong position in the northwest minerals’ province, holding four tenements prospective for vanadium near the town of Julia Creek, in north-west Queensland. Its flagship project is known as the LindfieldProject, while the tenements for the Whinmoor Project, the LaraDowns Project and the Lindfield North Project are all within a less than 100km radius of Julia Creek. The Group further holds tenements for the Figtree Creek Project and Lorena Surrounds Project, both greenfield copper-gold projects near the Queensland town of Cloncurry. Directors’ Report Annual Report FY26 | 11 GroupProjects Project Name Tenement Status Date Granted Expires Area Location Target minerals Interest Lindfield Project EPM 27872 Granted 07/12/21 06/12/26 92 sub- blocks 30km Northeast of Julia Creek Vanadium 100% Figtree Creek Project EPM 27998 Granted 27/10/22 26/10/27 22 sub- blocks 10km South- Southeast of Cloncurry Copper 100% Lorena Surrounds Project EPM 27999 Granted 27/10/22 26/10/27 16 sub- blocks 15km East of Cloncurry Copper 100% Whinmoor Project EPM 28631 Granted 23/01/23 22/01/28 100 sub- blocks 60km North of Julia Creek Vanadium 100% Lara Downs Project EPM 28635 Granted 30/05/24 29/05/29 118 sub- blocks 60km Northwest of Julia Creek Vanadium 100% Lindfield North Project EPM 28636 Granted 31/05/24 30/05/29 36 sub- blocks 65km North of Julia Creek Vanadium 100% Image 1: Map of the Group’s projects. Source: Queensland Government, GeoResGlobe, Available at: https://georesglobe.information.qld.gov.au Directors’ Report Annual Report FY26 | 12 GroupProjects Lindfield Project (EPM 27872) The Lindfield Project (Lindfield) comprises Queensland exploration permit for mining (EPM) 27872 and encompasses ninety-two subblocks covering 295km². Lindfield is located approximately 30km northeast of the township of Julia Creek. The project area is intersected by the Flinders Highway and the Great Northern Railway Line at the southern end of the tenement. Lindfield is considered highly prospective for vanadium, HPA and molybdenum. The Lindfield Project area is characterised by the presence of the Toolebuc Formation, Allaru Mudstone and quaternary sediments. Please see above for progress on the Lindfield Project. Whinmoor Project (EPM 28631) The Whinmoor Project (Whinmoor) comprises one hundred sub-blocks covering 320 km² and is located 60km north of Julia Creek. The Group intends to extend exploration on Whinmoor by previous explorers and known extensions to vanadium mineralisation in the Company’s Lindfield Project. As the focus of the Company has been on the Lindfield Project in FY26, no substantive exploration activities and no field work have been undertaken at the Whinmoor Project. Lara Downs Project (EPM 28635) The Lara Downs Project (Lara Downs) consists of 118 sub-blocks covering 378 km². Lara Downs is located 60km northwest of Julia Creek. The Group intends to extend exploration on Lara Downs by previous explorers and known extensions to vanadium mineralisation in the Company’s Lindfield Project. As the focus of the Company has been on the Lindfield Project in FY26, no substantive exploration activities and no field work have been undertaken at the Whinmoor Project. Lindfield North Project (EPM 28636) The Lindfield North Project (Lindfield North) consists of 36 sub-blocks covering 115 km². Lindfield North is located 65km north of Julia Creek and directly adjacent to the Lindfield Project. The Group intends to extend exploration on Lindfield North by previous explorers and known extensions to vanadium mineralisation in the Company’s Lindfield Project. As the focus of the Company has been on the Lindfield Project in FY26, no substantive exploration activities and no field work have been undertaken at the Whinmoor Project. Figtree Creek Project (EPM 27998) The Figtree Creek Project consists of twenty-two sub-blocks covering 70km². The Figtree Creek Project is located approximately 10 km southeast of the township of Cloncurry and is 5km from the main infrastructure corridor of the Flinders Highway and the Great Northern Railway line. The Figtree Creek Project is considered prospective for iron oxide copper and gold mineralisation based on historical surface sampling, local structural geology with similar rock types and structures present in the Figtree Creek Project area to that of the Great Australian Mine style of copper-gold mineralisation (which is just 3km north of the project) and electromagnetic anomalies identified. Due to the Company focus on the Lindfield Project during FY26, no substantive exploration activities and no field work have been undertaken at the Figtree Creek Project. Directors’ Report Annual Report FY26 | 13 GroupProjects Lorena Surrounds Project (EPM 27999) The Lorena Surrounds Project consists of sixteen sub-blocks covering 51km². The Lorena Surrounds Project is located 15km east of Cloncurry and intersects main infrastructure of the Flinders Highway and Great Northern Rail Line at the southern end of the tenement. The Lorena Surrounds Project is considered prospective for iron oxide copper and gold mineralisation based on historical drilling, local structural geology and electromagnetic anomalies identified. Due to the Company focus on the Lindfield Project, no substantive exploration activities and no field work have been undert