Announcement PDF Dart Mining NL DIRECTORS’ REPORT Your directors present their report on the consolidated entity consisting of Dart Mining NL (“Dart”” or the “Group”) and the entities it controlled at the end of or during the half-year ended 31 December 2023. Directors The directors and officers of Dart Mining NL at any time during or since the end of the half-year ended 31 December 2023 were: James Chirnside (Chairman / Managing Director) Richard Udovenya (Non-Executive Director) Dean Turnbull (Non-Executive Director) Julie Edwards (Company Secretary) Operating Results The operating loss after tax of the consolidated entity for the half-year ended 31 December 2023 is $373,838 (2022: $761,623). Review of Operations The half year end at December 31 2023, was challenging in the Lithium sector with significant price declines for Lithium commodities prices as well as Lithium related equities. Commodity prices plummeted through calendar year 2023 with particularly steep declines from 30 June 2023 through to the calendar year end. Much has been speculated as to the reasons for this, but as always, it seemed to be a confluence of factors including de-stocking of large inventories built up over the previous two years, as well as softening electric vehicle sales, forecast demand softening and potential oversupply. Roughly speaking, Lithium commodity prices ended up where they had started at the beginning of 2022, prior to the bull run which saw prices for 5.5% spodumene concentrate top out at $US8,500 per tonne in November 2022. Reaction to the declines ranged from muted to seemingly rushed decisions to halt production and development at major mine sites across the globe. These actions will ultimately feed into a recovery in prices in the medium term since the halting of development and consequent supply will remove fears of over-supply in the medium term. Dart continued field and other exploration activities as normal in both its gold and lithium projects. The Rushworth gold project is a particular priority for the Group and work progressed significantly during the half-year, both in desktop studies as well as in the field. Permitting applications, along with field mapping and sampling of the Group’s Dorchap Lithium project progressed to a point where now we have all but completed surface sampling of all identified pegmatite outcrop targets. Permitting applications for the planned drill testing of the Gosport pegmatites is complete with stakeholder and community engagement activities carried out during the half year. Capital raising activities including a private placement and rights issue raised ~$900,000 after fees in September / October. Subscriptions to the rights issue were greater than 50% which we considered excellent given the state of financial markets over the period. Out of concern and applying an abundance of caution in such uncertain times has meant a quite severe rationalisation at Dart during the half. In doing so we have more than adequately preserved an ability to continue exploration activities including ongoing drilling and field work. The Group’s “cash burn” rate has been sharply reduced as an outcome of this rationalisation program. A copy of the auditor’s Independence Declaration as required under Section 307C of the Corporation Act 2001 is set out on page 4 of the half-year Financial Report. Signed in accordance with the resolution of Directors. James Chirnside Chairman / Managing Director Melbourne 15 March 2024 3