Announcement PDF BPH Global Limited Appendix 4D Half-year report 1. Company details Name of entity: BPH Global Limited ABN: 57 009 104 330 Reporting period: For the half-year ended 31 December 2025 Previous period: For the half-year ended 31 December 2024 2. Results for announcement to the market % $ Revenues from ordinary activities up 100.0% to 1,375,583 Loss from ordinary activities after tax attributable to the owners of BPH Global Limited up 133.6% to (1,127,400) Loss for the half-year attributable to the owners of BPH Global Limited up 133.6% to (1,127,400) Dividends There were no dividends paid, recommended or declared during the current financial period. Comments The loss attributed to the owners of BPH Global Ltd after providing for income tax and non-controlling interest amounted to $1,127,400 (31 December 2024: $482,573). Refer to attached Directors Report for further commentary. During the half-year the Group commenced operations in Indonesia, operating a seaweed sales operation, with offtake agreements entered into to secure sales revenues for the Group. The Group has also made the decision to exit its China operations and is currently in negotiations with parties in China to divest its investment in its Chinese subsidiary. 3. Net tangible assets Reporting period Previous period Cents Cents Net tangible assets per ordinary security (0.04) (0.14) 4. Control gained over entities Not applicable. 5. Loss of control over entities Not applicable. 6. Dividends Current period There were no dividends paid, recommended or declared during the current financial period. Previous period There were no dividends paid, recommended or declared during the previous financial period. BPH Global Limited Appendix 4D Half-year report 7. Dividend reinvestment plans Not applicable. 8. Details of associates and joint venture entities Joint venture and associates are unchanged from the prior year, and did not operate during the year. 9. Audit qualification or review Details of audit/review dispute or qualification (if any): The financial statements were subject to a review by the auditors and the review report is attached as part of the Half-year Report. 10. Attachments Details of attachments (if any): The Half-year Report of BPH Global Limited for the half-year ended 31 December 2025 is attached. 11. Signed Signed ___________________________ Date: 26 February 2026 Matthew Leonard Director BPH Global Limited ABN 57 009 104 330 Half-year Report - 31 December 2025 BPH Global Limited Contents 31 December 2025 1 Directors' report 2 Auditor's independence declaration 4 Consolidated statement of profit or loss and other comprehensive income 5 Consolidated statement of financial position 7 Consolidated statement of changes in equity 8 Consolidated statement of cash flows 9 Notes to the consolidated financial statements 10 Directors' declaration 17 Independent auditor's review report to the members of BPH Global Limited 18 General information The financial statements cover BPH Global Limited as a consolidated entity consisting of BPH Global Limited and the entities it controlled at the end of, or during, the half-year. The financial statements are presented in Australian dollars, which is BPH Global Limited's functional and presentation currency. BPH Global Limited is a listed public company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is: Suite 303, 365 Little Collins Street Melbourne VIC 3000 A description of the nature of the consolidated entity's operations and its principal activities are included in the directors' report, which is not part of the financial statements. The financial statements were authorised for issue, in accordance with a resolution of directors, on 26 February 2026. BPH Global Limited Directors' report 31 December 2025 2 The directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'consolidated entity' or 'group') consisting of BPH Global Limited (referred to hereafter as the 'company' or 'parent entity') and the entities it controlled at the end of, or during, the half-year ended 31 December 2025. Directors The following persons were directors of BPH Global Limited during the whole of the financial half-year and up to the date of this report, unless otherwise stated: Paul Stephenson (Non-executive chairman) Francesco Cannavo (Executive director) Matthew Leonard (Executive director) Yanhua Huang (Non-executive director) Deepak Jha (Executive director) Principal activities During the financial half-year the group's product focus was on: ● the development of a seaweed operation in Indonesia to sell raw seaweed, produce bio-stimulant seaweed products and extract neutraceuticals for infusion in food, health and cosmetic products; ● research and development work into the extraction of minerals, nano-minerals and chemicals for use in battery and energy industries; ● research and development work on the production and extraction of biohydrogen and other biogases; and ● the sale of raw bird's nests, higher end processed bird's nest products and sea grapes (Caulerpa Lentillifera) Dividends There were no dividends paid, recommended or declared during the current or previous financial half-year. Review of operations The loss for the consolidated entity after providing for income tax and non-controlling interest from continuing operations amounted to $1,036,129 (31 December 2024: $366,081). During the prior year the consolidated entity acquired a seaweed operation in Indonesia in a business combination. After completion the consolidated entity secured a product sales agreement for the supply of seaweed and the first revenues were generated from Indonesian customers. During the half-year the consolidated entity's focus has been on fully establishing and growing the seaweed operation. The consolidated entity also engaged in research and development activities in Indonesia, entering into arrangements with Temasek Polytechnic to research the viability of extracting mineral resources from seaweed and the production of seaweed by-products. The consolidated entity obtained a trade finance facility of US$375,000 and an equity raising of $1,100,000 before costs during the half-year. The conversion of some director liabilities to equity has enabled the consolidated entity to develop its strategy and trading operations throughout the year. The net liability position at 31 December 2025 is $795,969 (30 June 2025: $1,464,466). Significant changes in the state of affairs The directors were focussed on raising capital and funding operations, while rationalising the Group’s business and investment opportunities. The consolidated entity obtained US$375,000 in trade financing. The directors also accepted ordinary shares to settle unpaid fees of $455,000, with the consolidated entity issuing 227,500,000 ordinary shares. The consolidated entity raised capital through a private placement in two tranches in September and November 2025, raising $1,100,000 before costs and issuing 550,000,000 ordinary shares. 15,000,000 ordinary shares were issued to the vendors of the Indonesian seaweed operation acquired by the Group in 2025 to settle the deferred consideration that was established within the acqusition contract. 10,000,000 ordinary shares were issued to the lead manager as part of payments for managing the capital raise process. During the half-year the Group has also made the decision to exit its China operations and is currently in negotiations with parties in China to divist its investment in its Chinese subsidiary. BPH Global Limited Directors' report 31 December 2025 3 There were no other significant changes in the state of affairs of the consolidated entity during the financial half-year. Matters subsequent to the end of the financial half-year On 5 February 2026 the consolidated entity announced that it had received commitments to raise $1million in capital before costs. The raise was completed and shares issued on 13 February 2026. Also on 6 February 2026, the Group announced that it had entered into a Memorandum of Understanding ("MoU") with Badan Riset dan Inovasi Nasional (BRIN), Indonesia's national Research and Innovation agency to develop R&D projects in collaboration with the agency. The first project to be advanced under the MoU is expected to be the Group's Fucoidan extraction technology (see ASX announcement on 6 February 2026). No other matter or circumstance has arisen since 31 December 2025 that has significantly affected, or may significantly affect the consolidated entity's operations, the results of those operations, or the consolidated entity's state of affairs in future financial years. Auditor's independence declaration A copy of the auditor's independence declaration as required under section 307C of the Corporations Act 2001 is set out immediately after this directors' report. This report is made in accordance with a resolution of directors, pursuant to section 306(3)(a) of the Corporations Act 2001. On behalf of the directors ___________________________ Matthew Leonard Director 26 February 2026 hlb.com.au HLB Mann Judd (VIC) Partnership ABN 20 696 861 713 Level 9, 550Bourke Street, Melbourne VIC 3000 | GPO Box 2850, Melbourne VIC 3001 T: +61 (0) 3 9606 3888 F: +61 (0) 3 9606 3800 E: mailbox@hlbvic.com.au Liability limited by a scheme approved under Professional Standards Legislation. HLB Mann Judd (VIC) Partnership is a member of HLB International, the global advisory and accounting network Auditor’s independence declaration As lead auditor for the review of the interim consolidated financial report of BPH Global Limited (“the Company”) and its controlled entities (“the Group”) for the half-year ended 31 December 2025, I declare that, to the best of my knowledge and belief, there have been no contraventions of: (a) the auditor independence requirements of the Corporations Act 2001 in relation to the review; and (b) any applicable code of professional conduct in relation to the review. This declaration is in relation to the Company and the entities it controlled during the period. HLB Mann Judd Alex Roberts Chartered Accountants Partner Melbourne 26 February 2026 BPH Global Limited Consolidated statement of profit or loss and other comprehensive income For the half-year ended 31 December 2025 Consolidated Note 31 December 2025 31 December 2024 $ $ The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes 5 Revenue from continuing operations 3 1,375,583 - Interest income calculated using the effective interest method 214 - Expenses Other expenses 8 - Cost of sales (1,435,531) - Staff costs and directors' fees (587,112) (82,972) Professional fees (116,631) (142,548) Marketing and travel (116,388) (65,397) Administrative expenses (92,164) (46,682) Depreciation (5,382) - Research and development expenses (17,495) - Reversal of impairment of trade and other receivables - 2,280 Finance costs (41,275) (30,762) Loss before income tax benefit from continuing operations (1,036,173) (366,081) Income tax benefit 44 - Loss after income tax benefit from continuing operations (1,036,129) (366,081) Loss after income tax expense from discontinued operations 4 (91,302) (117,086) Loss after income tax benefit for the half-year (1,127,431) (483,167) Other comprehensive income/(loss) Items that may be reclassified subsequently to profit or loss Foreign currency translation 9,818 (10,160) Other comprehensive income/(loss) for the half-year, net of tax 9,818 (10,160) Total comprehensive (loss) for the half-year (1,117,613) (493,327) Loss for the half-year is attributable to: Non-controlling interest (31) (594) Owners of BPH Global Limited (1,127,400) (482,573) (1,127,431) (483,167) Total comprehensive (loss) for the half-year is attributable to: Continuing operations (31) (594) Discontinued operations - - Non-controlling interest (31) (594) Continuing operations (1,026,706) (377,319) Discontinued operations (90,876) (115,414) Owners of BPH Global Limited (1,117,582) (492,733) (1,117,613) (493,327) BPH Global Limited Consolidated statement of profit or loss and other comprehensive income For the half-year ended 31 December 2025 The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes 6 Consolidated 31 December 2025 31 December 2024 Cents Cents Earnings per share for loss from continuing operations attributable to the owners of BPH Global Limited Basic loss per share (0.081) (0.092) Diluted loss per share (0.081) (0.092) Earnings per share for loss from discontinued operations attributable to the owners of BPH Global Limited Basic loss per share (0.007) (0.029) Diluted loss per share (0.007) (0.029) Earnings per share for loss attributable to the owners of BPH Global Limited Basic loss per share (0.088) (0.121) Diluted loss per share (0.088) (0.121) BPH Global Limited Consolidated statement of financial position As at 31 December 2025 Consolidated Note 31 December 2025 30 June 2025 $ $ The above consolidated statement of financial position should be read in conjunction with the accompanying notes 7 Assets Current assets Cash and cash equivalents 598,604 147,265 Trade and other receivables 5 411,581 189,855 Inventories 86,384 87,940 Other 25,663 36,161 1,122,232 461,221 Assets classified as held for sale 4 - 77,880 Total current assets 1,122,232 539,101 Non-current assets Property, plant and equipment 3,962 1,902 Right-of-use assets 6 24,358 - Intangibles - 1 Deferred tax 44 - Total non-current assets 28,364 1,903 Total assets 1,150,596 541,004 Liabilities Current liabilities Trade and other payables 7 1,180,219 1,839,933 Borrowings 8 563,078 - Lease liabilities 14,397 - Employee benefits 63,323 52,985 1,821,017 1,892,918 Liabilities directly associated with assets classified as held for sale 4 125,548 112,552 Total current liabilities 1,946,565 2,005,470 Total liabilities 1,946,565 2,005,470 Net liabilities (795,969) (1,464,466) Equity Issued capital 9 81,629,433 80,195,756 Reserves 10 2,012,808 1,800,197 Accumulated losses (84,424,052) (83,446,292) Deficiency in equity attributable to the owners of BPH Global Limited (781,811) (1,450,339) Non-controlling interest (14,158) (14,127) Total deficiency in equity (795,969) (1,464,466) BPH Global Limited Consolidated statement of changes in equity For the half-year ended 31 December 2025 The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes 8 Issued Accumulated Non- controlling capital Reserves losses interest Total deficiency in equity Consolidated $ $ $ $ $ Balance at 1 July 2024 78,879,134 1,919,342 (82,204,013) (13,503) (1,419,040) Loss after income tax expense for the half-year - - (482,573) (594) (483,167) Other comprehensive (loss) for the half-year, net of tax - (10,160) - - (10,160) Total comprehensive (loss) for the half-year - (10,160) (482,573) (594) (493,327) Transactions with owners in their capacity as owners: Contributions of equity, net of transaction costs 88,556 129,357 - - 217,913 Conversion of convertible notes into equity - 12,716 - - 12,716 Cancellation/expiry of options - (5,000) 5,000 - - Balance at 31 December 2024 78,967,690 2,046,255 (82,681,586) (14,097) (1,681,738) Issued Accumulated Non- controlling capital Reserves losses interest Total deficiency in equity Consolidated $ $ $ $ $ Balance at 1 July 2025 80,195,756 1,800,197 (83,446,292) (14,127) (1,464,466) Loss after income tax benefit for the half-year - - (1,127,400) (31) (1,127,431) Other comprehensive income for the half-year, net of tax - 9,818 - - 9,818 Total comprehensive income/(loss) for the half-year - 9,818 (1,127,400) (31) (1,117,613) Transactions with owners in their capacity as owners: Contributions of equity, net of transaction costs (note 9) 883,677 - - - 883,677 Shares issued to settle outstanding director fees 455,000 - - - 455,000 Shares issued to settle deferred consideration (note 7) 75,000 - - - 75,000 Shares issued to lead manager 20,000 - - - 20,000 Share based payments - options - 113,813 - - 113,813 Share based payments - performance rights - 238,620 - - 238,620 Expiry of options - (149,640) 149,640 - - Balance at 31 December 2025 81,629,433 2,012,808 (84,424,052) (14,158) (795,969) BPH Global Limited Consolidated statement of cash flows For the half-year ended 31 December 2025 Consolidated Note 31 December 2025 31 December 2024 $ $ The above consolidated statement of cash flows should be read in conjunction with the accompanying notes 9 Cash flows from operating activities Receipts from customers (inclusive of GST) 1,156,969 50,936 Payments to suppliers (inclusive of GST) (2,223,695) (363,731) (1,066,726) (312,795) Interest received 214 5 Interest and other finance costs paid (41,275) (12,840) Net cash used in operating activities (1,107,787) (325,630) Cash flows from investing activities Payments for property, plant and equipment (2,340) (412) Net cash used in investing activities (2,340) (412) Cash flows from financing activities Proceeds from issue of shares, net of costs 9 1,019,591 116,111 Proceeds from convertible note - 305,000 Proceeds from borrowings 563,078 - Repayment of right-to-use lease liabilities (14,832) - Net cash from financing activities 1,567,837 421,111 Net increase in cash and cash equivalents 457,710 95,069 Cash and cash equivalents at the beginning of the financial half-year 152,744 133,619 Effects of exchange rate changes on cash and cash equivalents (11,850) (10,227) Cash and cash equivalents at the end of the financial half-year 598,604 218,461 BPH Global Limited Notes to the consolidated financial statements 31 December 2025 10 Note 1. Material accounting policy information These general purpose financial statements for the interim half-year reporting period ended 31 December 2025 have been prepared in accordance with Australian Accounting Standard AASB 134 'Interim Financial Reporting' and the Corporations Act 2001, as appropriate for for-profit oriented entities. Compliance with AASB 134 ensures compliance with International Financial Reporting Standard IAS 34 'Interim Financial Reporting'. These general purpose financial statements do not include all the notes of the type normally included in annual financial statements. Accordingly, these financial statements are to be read in conjunction with the annual report for the year ended 30 June 2025 and any public announcements made by the company during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001. The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period, unless otherwise stated. New or amended Accounting Standards and Interpretations adopted The consolidated entity has adopted all of the new or amended Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') that are mandatory for the current reporting period. Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted. Going concern During the period, the consolidated entity incurred a loss after income tax of $1,036,129 (31 December 2024: $366,081) from continuing operations and net cash outflows from operating activities of $1,107,787 (31 December 2024: $325,630). At 31 December 2025, the consolidated entity had net liabilities of $795,969 (30 June 2025: $1,464,466) and had cash of $598,604 (30 June 2025: $147,265). Accordingly, there is material uncertainty that may cast doubt on the consolidated entity’s ability to continue as a going concern. Notwithstanding this the financial report has been prepared on a going concern basis which assumes the realisation of assets and discharge of liabilities in the normal course of business at the amounts stated in the financial report, for the following reasons: Management have taken several actions to ensure that the consolidated entity will continue as a going concern, in particular completing the following: ● In February 2026 the Company completed a $1 milllion capital raise, before costs, to fund working capital and operations. The Company anticipates that $600,000 of the amount raised will be allocated to expand Indonesian operations to increase capacity. A further $200,000 is expected to be allocated to research and development activities with $200,000 remaining to fund working capital and fund raising costs. ● Executing the consolidated entity’s strategy of building up the Indonesian seaweed business in line with its business plan so that it contributes positively to the consolidated entity’s operations. The seaweed operation commenced trading in May 2025. The operation has seen revenues continue to grow continuously, with the Indonesian subsidiary developing its capabilities to grow revenue. ● The directors continue to work with creditors to implement payment plans or pay out liabilities. The directors as significant creditors have also supported the company by working on payment terms that enable the entity to continue to operate. The consolidated entity has a demonstrated record of raising additional capital and the Board has a reasonable expectation that the Company will be able to successfully raise funds over the 12-month period ending February 2027, where required. Should the Company be unable to continue as a going concern it may be required to realise its assets and discharge its liabilities other than in the normal course of business and at amounts different from those stated in the financial statements. This financial report does not include any adjustments relating to the recoverability and classification of recorded asset amounts or to the amounts and classification of liabilities that might be necessarily incurred should the consolidated entity not continue as a going concern. BPH Global Limited Notes to the consolidated financial statements 31 December 2025 11 Note 2. Operating segments Identification of reportable operating segments The consolidated entity is not organised into different operating segments. This is based on the internal reports that are reviewed and used by the Board of Directors (who are identified as the Chief Operating Decision Makers ('CODM')) in assessing performance and in determining the allocation of resources. Management reviews the performance of the Group as a whole when reviewing performance and making decisions about utilisation of resources. Geographical information Sales to external customers Geographical non-current assets Continuing operations 31 December 2025 31 December 2024 31 December 2025 30 June 2025 $ $ $ $ Australia - - - - Indonesia 1,375,583 - 28,320 1,902 1,375,583 - 28,320 1,902 The geographical non-current assets above are exclusive of, where applicable, financial instruments, deferred tax assets, post-employment benefits assets and rights under insurance contracts. Note 3. Revenue Consolidated 31 December 2025 31 December 2024 $ $ From continuing operations Sales of goods 1,375,583 - The Group derives its revenue from contracts with customers for the transfer of goods at a point in time for all of its lines of revenue. Note 4. Discontinued operations Description During the period the consolidated entity made the decision to exit its China operations and entered into negotiations with parties in China to divest its investment in Foshan Gedishi Biotechnology Co., Ltd. At 31 December 2025 the process was ongoing, and the consolidated entity has made adjustments to reflect the recoverability of the respective assets in this subsidiary. BPH Global Limited Notes to the consolidated financial statements 31 December 2025 Note 4. Discontinued operations (continued) 12 Financial performance information Consolidated 31 December 2025 31 December 2024 $ $ Sales 13,150 50,936 Interest received - 5 Purchases (10,485) (39,746) Travel - (24,997) Depreciation (64) (31) Impairment expense (74,963) - Other expenses (18,938) (103,150) Finance costs (2) (103) Total expenses (104,452) (168,027) Loss before income tax expense (91,302) (117,086) Income tax expense - - Loss after income tax expense from discontinued operations (91,302) (117,086) Cash flow information Consolidated 31 December 2025 31 December 2024 $ $ Net cash used in operating activities (5,476) (5,804) Carrying amounts of assets and liabilities held for sale Consolidated 31 December 2025 30 June 2025 $ $ Cash and cash equivalents - 5,479 Trade and other receivables - 21,236 Inventories - 50,861 Property, plant and equipment - 304 Total assets - 77,880 Trade payables 53,373 36,367 Other payables 72,175 76,185 Total liabilities 125,548 112,552 Net liabilities held for sale (125,548) (34,672) BPH Global Limited Notes to the consolidated financial statements 31 December 2025 13 Note 5. Current assets - trade and other receivables Consolidated 31 December 2025 30 June 2025 $ $ Trade receivables 397,164 178,550 Other receivables 14,417 11,305 411,581 189,855 Note 6. Non-current assets - right-of-use assets Consolidated 31 December 2025 30 June 2025 $ $ Land and buildings - right-of-use 29,229 - Less: Accumulated depreciation (4,871) - 24,358 - Right-of-use assets relate to a warehouse held under lease for the Indonesian operation, expiring September 2027. Note 7. Current liabilities - trade and other payables Consolidated 31 December 2025 30 June 2025 $ $ Trade payables 154,662 318,917 Other payables 1,025,557 1,521,016 1,180,219 1,839,933 Note 8. Current liabilities - borrowings Consolidated 31 December 2025 30 June 2025 $ $ Trade facility 563,078 - The consolidated entity secured a trade facility of up to a maximum US$375,000 to fund the Indonesian operation during the half year. The facility is payable 1 year after first draw, with annual interest of 15%. The facility is secured with a floating lien against the seaweed stock held by the Indonesia subsidiary at its warehouse. Note 9. Equity - issued capital Consolidated 31 December 2025 30 June 2025 31 December 2025 30 June 2025 Shares Shares $ $ Ordinary shares - fully paid 1,853,484,651 1,050,984,651 81,629,433 80,195,756 BPH Global Limited Notes to the consolidated financial statements 31 December 2025 Note 9. Equity - issued capital (continued) 14 Movements in ordinary share capital Details Date Shares Issue price $ Balance 1 July 2025 1,050,984,651 80,195,756 Shares issued via placement 25 September 2025 248,750,000 $0.002 497,500 Shares issued to lead manager 27 November 2025 10,000,000 $0.002 20,000 Shares issued to settle director fees 27 November 2025 227,500,000 $0.002 455,000 Shares issued via placement 27 November 2025 301,250,000 $0.002 602,500 Shares issued to settle deferred consideration 28 November 2025 15,000,000 $0.005 75,000 Capital raising costs - $0.000 (216,323) Balance 31 December 2025 1,853,484,651 81,629,433 Ordinary shares Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up of the company in proportion to the number of and amounts paid on the shares held. The fully paid ordinary shares have no par value and the company does not have a limited amount of authorised capital. On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote. Share buy-back There is no current on-market share buy-back. Note 10. Equity - reserves Consolidated 31 December 2025 30 June 2025 $ $ Foreign currency reserve 34,934 25,115 Performance rights reserve 238,620 - Options reserve 1,739,254 1,775,082 2,012,808 1,800,197 Foreign currency reserve The reserve is used to recognise exchange differences arising from the translation of the financial statements of foreign operations to Australian dollars. It is also used to recognise gains and losses on hedges of the net investments in foreign operations. Performance rights reserve The reserve is used to recognise the value of performance rights provided to employees and directors as part of their remuneration, and other parties as part of their compensation for services. Options reserve The reserve is used to recognise the value of share options benefits provided to employees and directors as part of their remuneration, and other parties as part of their compensation for services. Note 11. Equity - dividends There were no dividends paid, recommended or declared during the current or previous financial half-year. BPH Global Limited Notes to the consolidated financial statements 31 December 2025 15 Note 12. Contingent assets The consolidated entity has no contingent assets at 31 December 2025 or at 30 June 2025. Note 13. Contingent liabilities The consolidated entity has no contingent liabilities as at 31 December 2025 or at 30 June 2025, other than those disclosed in note 16 relating to deferred consideration at 30 June 2025. Note 14. Commitments There are no commitments as at 31 December 2025 and at 30 June 2025. Note 15. Related party transactions Transactions with related parties The following transactions occurred with related parties: Consolidated 31 December 2025 31 December 2024 $ $ Payment for goods and services: Director fees and salaries (including superannuation) 315,162 130,350 Director fees - share based payments 238,620 - Receivable from and payable to related parties The following balances are outstanding at the reporting date in relation to transactions with related parties: Consolidated 31 December 2025 30 June 2025 $ $ Current payables: Director fees and salaries (including superannuation) 361,928 696,509 Director annual leave provisions 63,323 52,985 During the year ordinary shares with a value of $455,000 were issued to directors to settle a portion of outstanding directors fees.