Cokal (CKA) investor relations material

Executive summary

• Operations focused on advancing the BBM metallurgical coal project in Central Kalimantan, Indonesia, with the resumption of coal sales and ramp-up of contractor-led mining at Pit 3.

• Infrastructure upgrades progressed, including haul road improvements and jetty maintenance, to support increased production and logistics reliability.

• Regulatory compliance maintained with successful submissions under Indonesia's new Minerba One platform; no anticipated disruptions from regulatory changes.

Financial highlights

• Revenue for the half-year ended 31 December 2025 was US$2,244,728, up from US$2,101,407 year-over-year.

• Net loss after tax reduced to US$2,973,157 from US$6,145,109 in the prior year period.

• Basic and diluted loss per share improved to (0.28) cents from (0.57) cents year-over-year.

• Cash and cash equivalents at period end were US$554,491, down from US$630,926 at 30 June 2025.

• Net operating cash outflow was US$2,230,646 compared to an inflow of US$2,539,051 in the prior year.

Outlook and guidance

• Target coal production for 2026 is approximately 420,000 tonnes, with flexibility to increase output depending on market conditions and contractor engagement.

• Planned ramp-up of mining operations and infrastructure projects, including the BLC conveyor and expanded accommodation, to support production growth.

• Underground mining project at BBM advancing through permitting, with construction expected post-Q3 2026.