Announcement PDF Coda Minerals Limited ABN: 49 625 763 957 Half Year Financial Report 31 December 2024 Half-Year Financial Report 0 CODA MINERALS LIMITED and its controlled entities ACN 625 763 957 INTERIM FINANCIAL STATEMENTS DIRECTORS’ REPORT For the half-year ended 31 December 2024 The directors of Coda Minerals Ltd (‘the Company’ or ‘Coda’) present their report together with the financial statements of the Company and its Subsidiaries (‘the Group’) for the half-year ended 31 December 2024, and the Auditor’s Review Report thereon. In order to comply with the provisions of the Corporations Act 2001, the Directors’ report as follows: 1. DIRECTORS The directors of the Company at any time during or since the end of the financial period were: Name & Qualifications Period of Directorship Mr Keith F Jones BBus, FCA, FAICD Non-Executive Chairman Mr Andrew Marshall I Eng(UK), MAICD Non-Executive Director Mr Paul Hallam BE(Hons)Mining, FAICD, FAusIMM Non-Executive Director Mr Christopher Stevens BA (Hons), MA (Oxon), MSc, GAICD, FAusIMM Chief Executive Officer and Executive Director Director and Chair since 26 April 2018 Director since 19 July 2019 Director since 21 August 2019 Director since 26 April 2018 2. PRINCIPAL ACTIVITIES The principal activities of the Company during the period were primarily focused on the progression of exploration and evaluation activities associated with the Elizabeth Creek Copper Cobalt Project (“Elizabeth Creek”) in South Australia. The Company also continued to evaluate the Kinloch Copper Project in South Australia “Kinloch Project” and the Cameron River Copper Gold Project (“Cameron River”) as well as engaging in the evaluation of projects and potential joint ventures with other mining companies to explore for minerals. 3. REVIEW OF OPERATIONS Overview and strategy Coda Minerals Limited (ASX: COD) is focused on the discovery and development of minerals that are leveraged to the global energy transformation through electrification and the adoption of renewable energy technologies. Coda's flagship asset is the 100%-owned Elizabeth Creek Copper-Cobalt Project, located in the world-class Olympic Copper Province in the Eastern Gawler Craton, South Australia’s most productive copper belt. Elizabeth Creek is centred 100km south of BHP’s Olympic Dam copper-gold-uranium mine, 15km from its new Oak Dam West Project and 50km west of its Carrapateena copper-gold project. Coda consolidated 100% ownership of the Elizabeth Creek Copper Project after completing the acquisition of its former joint venture partner, Torrens Mining, in the first half of 2022. In December 2021, Coda announced a maiden Indicated and Inferred Mineral Resource Estimate for the Emmie Bluff copper-cobalt deposit at Elizabeth Creek, which was later updated in January of 2024. The Mineral Resource comprises 40.2Mt @ 1.27% copper, 569ppm cobalt, 17g/t silver and 0.17% zinc (1.87% Copper Equivalent (CuEq)) containing approximately 510kt copper, 23kt cobalt, 21.7Moz silver and 70kt zinc (751kt CuEq) i. Importantly, 95% of the contained metal is classified in the higher confidence ‘Indicated Resource’ category and is available for use in mining studies. Emmie Bluff is one of three known ‘Zambian-style’ copper-cobalt deposits at Elizabeth Creek, including JORC 2012 compliant Indicated Mineral Resources at the Windabout (18Mt @ 1.14% CuEq) and MG14 (1.8Mt @ 1.67% CuEq) depositsii. Collectively, the three resources at Elizabeth Creek now host a total of over 1 million tonnes of contained copper equivalent. A scoping study into the development of these three deposits was released in March of 2023 and updated in January iii, Marchiv and December of 2024. The updated study demonstrated an economically robust project with a 16 year mine life, capable of producing approximately 26,700 tonnes of copper and 1,300 tonnes of cobalt at steady state production levels. The project had a lifetime average AISC of USD $1.80/lb of Cu (after by-product credits) and an approximately pre-tax NPV7 of $1.18Bv. i 2024.01.30 - Scoping Study Update Delivers Materially Improved Economics Competent Person: Dr Michael Cunningham. 2020.10.26 - Confirmation Statements JORC, Competent Person: Tim Callaghan. iii 2024.01.30 - Scoping Study Update Delivers Materially Improved Economics iv 2024.03.14 – Further Key Improvement in Underground Project Economics v 2024.12.03 – New Resources, Higher Recoveries Boost Elizabeth Creek Value See here for LR 5.23.2 Statement. ii 1 CODA MINERALS LIMITED and its controlled entities ACN 625 763 957 INTERIM FINANCIAL STATEMENTS DIRECTORS’ REPORT For the half-year ended 31 December 2024 REVIEW OF OPERATIONS (CONTINUED) Coda has also discovered a significant IOCG system adjacent to and below the Emmie Bluff target, with initial deep diamond drilling in June 2021 intersecting 200m of intense IOCG alteration at the Emmie IOCG target, including approximately 50m of copper sulphide mineralisationvi. Since then, Coda has drilled 21 holes into Emmie IOCG, with all but three returning significant widths of mineralisation, some over 3% copper and 0.5g/t gold vii. Coda has a dual strategy for success at Elizabeth Creek. Firstly, it is working towards the next step in the development process for its Zambian-style copper cobalt projects by advancing technical and economic studies to build on the results of the recently updated Scoping Study, while simultaneously undertaking exploration to further define and extend known Zambianstyle copper-cobalt resources across multiple prospects. Secondly, it is undertaking a substantial geophysical and related assessment programme at the Emmie IOCG prospect to further understand the structures and extent of the geological model defined through drilling. Coda also has consolidated 100% ownership of the Cameron River Copper-Gold-Uranium Project, located in the highly prospective Mount Isa Inlier in Queensland. The Project comprises 35km2 of copper and gold exploration tenure spanning two Exploration Permits (EPMs 27042 and 27053). Key events for the half year ended 31 December 2024:  Substantial progress on Elizabeth Creek Copper-Cobalt Project, including: o Coda released its updated Scoping Study into the Elizabeth Creek Copper Cobalt project, which saw pre-tax NPV7 increase to $1.18 billion and with an IRR of 35%, while post-tax NPV increased by 57% to an estimated $802 million from $509 million previously. o Amongst other changes to earlier iterations, the updated study integrated improvements to flotation recoveries from the three Zambian-style deposits (MG14, Windabout and Emmie Bluff), integrated the Cattle Grid South open-pit deposit, accounted for changes in the macroeconomic outlook and included the recently announced critical minerals tax incentive scheme announced under the federal government’s Future Made in Australia plan. o As with earlier iteration of the study, the Elizabeth Creek Project will be undertaken in two phases. Phase 1, which will consist of approximately 1 year of copper-cobalt concentrate production to drive early cash-flow will be followed by Phase 2, which will involve the construction of a hydrometallurgical plant, currently proposed to use the Albion ProcessTM to produce higher value saleable end-products: copper cathode, battery-grade cobalt sulphate, zinc carbonate and silver doré. o Production during phase 2 is expected to last approximately 15 years.Mineralisation will be sourced from three open pits, and one long-life underground mine (Emmie Bluff, approx. 400m depth), for a lifetime average mined diluted grade of 1.70% CuEq - 1.11% Cu, 546ppm Co and 15g/t Ag. o Average steady state annual production during Phase 2 will reach approximately 26,700t Cu, 1,300t Co and 1.1MOz Ag, with lifetime production estimated at 384 kt Cu, 19 kt Co and 16 Moz Ag. This is modelled to result in a total pre-tax revenue of approximately $7.57 billion over the life of mine, which the company estimates at 16 years.  Substantial advancement of exploration at Elizabeth Creek, including: o Definition of two new target areas at Emmie East, immediately adjacent to the Emmie Bluff Resource. o Preparation and approvals completed for drilling to commence at Emmie East in early 2025. o Definition and planning of geophysical surveys at Oakden North and Canegrass. o Targeting completed for drilling at Oakden in the south of the Elizabeth Creek tenure.  Advancement of approvals at Elizabeth Creek, including: o Submission of definition and scoping socuments under South Australia’s Scoping Process for Approvals.  Strategic partner discussions continued regarding the future development of Elizabeth Creek including technical and economic studies.  On 23 September 2024 Coda announced an underwritten non-renounceable, pro rata entitlement offer of 1 New Share for every 6 Shares held by Eligible Shareholders, together with 1 attaching New Option (exercisable at 15 cents, expiry 28 March 2029) for every 2 New Shares subscribed, at an issue price of $0.07 per New Share, to raise up to approximately $2.045 million before costs, with the ability to accept oversubscriptions for up to an additional $1 million. o Melbourne-based Cumulus Wealth Pty Ltd was engaged to act as Lead Manager to the Entitlement Offer. The Entitlement Offer was underwritten up to 29,215,426 New Shares for $2.045 million by Westar Capital Limited, and the Lead Manager was engaged by the Underwriter as priority sub-underwriter. vi 2021.06.22 - Thick Zone of IOCG Mineralisation Intersected at Emmie Bluff Deeps, Competent Person: Mr Matthew Weber. 2022.08.18 – Assays from IOCG Drilling Confirm Target Areas for Follow Uphttps://www.codaminerals.com/wpcontent/uploads/2021/06/20210622_Coda_ASX-ANN_Emmie-Bluff-Deeps-IOCG-Mineralisation-AdditionalInformation_RELEASE.pdf, Competent Person: Mr Matthew Weber. vii 2 CODA MINERALS LIMITED and its controlled entities ACN 625 763 957 INTERIM FINANCIAL STATEMENTS DIRECTORS’ REPORT For the half-year ended 31 December 2024 REVIEW OF OPERATIONS (CONTINUED) o o o o On 23 October Coda announced that the fully underwritten Entitlement Offer closed oversubscribed raising the maximum $3.045 million and to accommodate significant excess demand, Coda elected to undertake an additional Placement managed by Cumulus Wealth to raise approximately $2.05 million (before costs) on the same terms as the Entitlement Offer. The firm commitments under the Placement comprise 29,232,468 Placement Shares at $0.07 per Placement Share, together with 14,616,234 quoted, attaching options exercisable at $0.15 each and expiring on or before 28 March 2029, to be issued on the basis of one (1) attaching Option for every two (2) Placement Shares subscribed under the placement. The 43,501,104 New shares and 21,750,754 New Options raising approximately $3.045 million under the Entitlement and Shortfall Offers were issued on 29 October 2024 and commenced trading on 30 October 2024. Of the 29,232,468 Placement shares issued, 11,704,312 Placement Shares were issued utilising the Company’s remaining placement capacity under Listing Rule 7.1 and 17,528,156 Placement Shares were issued utilising the Company’s existing 10% placement capacity under Listing Rule 7.1A. The Company subsequently received Shareholder approval at a general meeting held on 20 December 2024 to issue the 14,616,234 Placement Options. Issue of the Placement Shares occurred on 5 November 2024. The Entitlement Offer and additional Placement raised a total of $5.1 million. 4. FINANCIAL POSITION As at 31 December 2024, Coda had cash and cash equivalents of $5,990,510 (30 June 2024: $3,426,744) and net current assets of $5,892,747 (30 June 2024: $2,993,983). For the half year period ended on 31 December 2024, Coda recorded a loss after tax of $1,907,170 (31 December 2023: $2,324,614) and experienced net operating cash outflows of $1,922,389 (31 December 2023: $2,809,775). No dividends were paid during the half year ended 31 December 2024. 5. GOING CONCERN The half year financial statements have been prepared on a going concern basis. 6. EVENTS SUBSEQUENT TO REPORTING DATE No matters or circumstances have arisen since the end of the half year period apart from the following: On 12 February 2025, the Company announced the issue of 14,616,234 options at an exercise price of $0.15 per options expiring on 28 March 2029 to shareholders that participated in the capital raising on 5 November 2024; AUDITOR INDEPENDENCE A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out on page 4. This report is made in accordance with a resolution of Directors, pursuant to section 306(3)(a) of the Corporations Act 2001 at Perth, WA on 26 February 2025, on behalf of Directors. K F Jones Director 3 CODA MINERALS LIMITED and its controlled entities ACN 625 763 957 INTERIM FINANCIAL STATEMENTS RSM Australia Partners Level 32 Exchange Tower, 2 The Esplanade Perth WA 6000 GPO Box R1253 Perth WA 6844 T +61 (0) 8 9261 9100 www.rsm.com.au AUDITOR’S INDEPENDENCE DECLARATION As lead auditor for the review of the financial report of Coda Minerals Limited for the half-year ended 31 December 2024, I declare that, to the best of my knowledge and belief, there have been no contraventions of: (i) the auditor independence requirements of the Corporations Act 2001 in relation to the review; and (ii) any applicable code of professional conduct in relation to the review. RSM AUSTRALIA MATTHEW BEEVERS Partner Perth, WA Dated: 26 February 2025 RSM Australia Partners is a member of the RSM network and trades as RSM. RSM is the trading name used by the members of the RSM network. Each member of the RSM network is an independent accounting and consulting firm which practices in its own right. The RSM network is not itself a separate legal entity in any jurisdiction. RSM Australia Partners ABN 36 965 185 036 Liability limited by a scheme approved under Professional Standards Legislation RSM Australia Partners Level 32 Exchange Tower, 2 The Esplanade Perth WA 6000 GPO Box R1253 Perth WA 6844 T +61 (0) 8 9261 9100 www.rsm.com.au INDEPENDENT AUDITOR’S REVIEW REPORT To the Members of Coda Minerals Limited Report on the Half-Year Financial Report Conclusion We have reviewed the accompanying half-year financial report of Coda Minerals Limited which comprises the consolidated statement of financial position as at 31 December 2024, the consolidated statement of profit or loss and other comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the half-year ended on that date, notes comprising material accounting policy information and other explanatory information and the directors’ declaration of the consolidated entity comprising the company and the entities it controlled at the half-year end or from time to time during the half-year. Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the half-year financial report of Coda Minerals Limited is not in accordance with the Corporations Act 2001 including: (a) giving a true and fair view of the consolidated entity’s financial position as at 31 December 2024 and of its performance for the half-year ended on that date; and (b) complying with Accounting Standard AASB 134 Interim Financial Reporting and Corporations Regulations 2001. Basis for Conclusion We conducted our review in accordance with ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity. Our responsibilities are further described in the Auditor’s Responsibilities for the Review of the Financial Report section of our report. We are independent of the Company in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) that are relevant to our audit of the annual financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. We confirm that the independence declaration required by the Corporations Act 2001, which has been given to the directors of Coda Minerals Limited, would be in the same terms if given to the directors as at the time of this auditor’s review report. RSM Australia Partners is a member of the RSM network and trades as RSM. RSM is the trading name used by the members of the RSM network. Each member of the RSM network is an independent accounting and consulting firm which practices in its own right. The RSM network is not itself a separate legal entity in any jurisdiction. RSM Australia Partners ABN 36 965 185 036 Liability limited by a scheme approved under Professional Standards Legislation Directors’ Responsibility for the Half-Year Financial Report The directors of Coda Minerals Limited are responsible for the preparation of the half-year financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the half-year financial report that is free from material misstatement, whether due to fraud or error. Auditor’s Responsibility for the Review of the Financial Report Our responsibility is to express a conclusion on the half-year financial report based on our review. We conducted our review in accordance with Auditing Standard on Review Engagements ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity, in order to state whether, on the basis of the procedures described, we have become aware of any matter that makes us believe that the half-year financial report is not in accordance with the Corporations Act 2001 including: giving a true and fair view of the consolidated entity’s financial position as at 31 December 2024 and its performance for the half-year ended on that date; and complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001. A review of a half-year financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. RSM AUSTRALIA MATTHEW BEEVERS Partner Perth, WA Dated: 26 February 2025 DIRECTORS’ DECLARATION For the half-year ended 31 December 2024 In the opinion of the directors of Coda Minerals Ltd (“the Company”): 1) the financial statements and notes comply with the Corporations Act 2001 Australian Accounting Standard AASB 134 ‘Interim Financial Reporting’, the Corporations Regulations 2001 and other mandatory professional reporting requirements; 2) giving a true and fair view of the Consolidated Entity’s financial position as at 31 December 2024 and of its performance, as represented by the results of its operations and its cash flows, for the half-year ended on that date; and 3) there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable. Dated at Perth this 26th day of February 2025. Signed in accordance with a resolution of the directors made pursuant to section 303(5)(a) of the Corporations Act 2001. _______________________ KF Jones Director 7 CODA MINERALS LIMITED and its controlled entities ACN 625 763 957 INTERIM FINANCIAL STATEMENTS Coda Minerals Limited and its controlled entities Consolidated Statement of Profit or Loss and Other Comprehensive Income For the half-year ended 31 December 2024 Consolidated statement of profit or loss and other comprehensive income Note 31 December 2024 $ 31 December 2023 $ Other income 4 - 269,622 Administration expenses Exploration & evaluation expenses Corporate finance expenses Other expenses Results from operating activities 4(a) 4(b) 4(c) 4(d) (1,030,773) (765,831) (103,937) (80,228) (1,980,769) (1,392,220) (1,134,137) (48,000) (79,485) (2,384,220) Finance income Finance expenses 4 4(e) 78,553 (4,954) 67,711 (8,105) Loss before income tax (1,907,170) (2,324,614) Income tax benefit / (expense) Loss for the period attributable to owners of the Company (1,907,170) (2,324,614) (23,668) 7,625 (1,930,838) (2,316,989) ($0.01) ($0.02) Other comprehensive income Fair value movement on financial asset 7 Total comprehensive loss for the period attributable to owners of the Company Earnings per share Basic and diluted (loss) per share The consolidated statement of profit or loss and other comprehensive income is to be read in conjunction with the notes to the financial statements. Refer to Note 2 on basis of preparation. 8 CODA MINERALS LIMITED and its controlled entities ACN 625 763 957 INTERIM FINANCIAL STATEMENTS Coda Minerals Limited and its controlled entities Consolidated Statement of Financial Position as at 31 December 2024 31 December 2024 $ 30 June 2024 $ CURRENT ASSETS Cash and cash equivalents Receivables Prepayments TOTAL CURRENT ASSETS 5,990,510 89,888 245,492 6,325,890 3,426,744 27,107 176,920 3,630,771 NON-CURRENT ASSETS Receivables Financial assets at fair value through other comprehensive income Property, plant and equipment Intangible assets Exploration and evaluation assets TOTAL NON-CURRENT ASSETS 150,328 123,225 160,649 97,886 17,926,175 18,458,263 204,435 146,893 230,304 104,553 17,926,175 18,612,360 24,784,153 22,243,131 174,108 192,931 66,104 433,143 245,017 277,204 114,567 636,788 - 9,414 9,414 433,143 646,202 24,351,010 21,596,929 51,421,125 12,040,106 1,781,266 (173,635) (40,717,852) 47,194,079 12,040,106 1,659,393 (149,967) (39,146,682) 24,351,010 21,596,929 Consolidated statement of financial position Note 5 TOTAL ASSETS CURRENT LIABILITIES Trade and other payables Employee benefits Lease liabilities TOTAL CURRENT LIABILITIES NON-CURRENT LIABILITIES Lease liabilities TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS EQUITY Issued capital Capital contribution reserve Share based payments reserve Revaluation reserve Accumulated losses 6 7 7 7 TOTAL EQUITY The consolidated statement of financial position is to be read in conjunction with the notes to the financial statements. Refer to Note 2 on basis of preparation. 9 CODA MINERALS LIMITED and its controlled entities ACN 625 763 957 INTERIM FINANCIAL STATEMENTS Coda Minerals Limited and its controlled entities Consolidated Statement of Changes in Equity For the half-year ended 31 December 2024 31 December 2024 $ $ Share based payments reserve $ $ $ $ Opening balance at 1 July 2024 Loss for the period Fair value movement on financial asset Total comprehensive loss for the period Shares issued under placement Share issue costs (including broker options) Transferred from reserve upon expiry Transferred from reserve upon exercise Share-based payments to Directors, employees & lead advisor 47,194,079 5,091,353 (1,050,457) 126,150 60,000 12,040,106 - 1,659,393 (336,000) (126,150) 584,023 (149,967) (23,668) (23,668) - (39,146,682) (1,907,170) (1,907,170) 336,000 - 21,596,929 (1,907,170) (23,668) (1,930,838) 5,091,353 (1,050,457) 644,023 Closing balance at 31 December 2024 51,421,125 12,040,106 1,781,266 (173,635) (40,717,852) 24,351,010 Issued capital Capital contribution reserve Revaluation reserve Accumulated losses Total $ $ Share based payments reserve $ $ $ $ Opening balance at 1 July 2023 Loss for the period Fair value movement on financial asset Total comprehensive loss for the period Transferred from reserve upon expiry Transferred from reserve upon exercise Share-based payments to Directors and employees 44,137,422 183,532 - 12,040,106 - 1,368,926 (185,467) (183,532) 271,845 (83,875) 7,625 7,625 - (34,766,566) (2,324,614) (2,324,614) 185,467 - 22,696,013 (2,324,614) 7,625 (2,316,989) 271,845 Closing balance at 31 December 2023 44,320,954 12,040,106 1,271,772 (76,250) (36,905,713) 20,650,869 Consolidated statement of changes in equity 31 December 2023 Consolidated statement of changes in equity Issued capital Capital contribution reserve Revaluation reserve The statement of changes in equity is to be read in conjunction with the notes to the financial statements. Refer to Note 2 on basis of preparation. 10 CODA MINERALS LIMITED and its controlled entities ACN 625 763 957 INTERIM FINANCIAL STATEMENTS Accumulated losses Total Coda Minerals Limited and its controlled entities Consolidated Statement of Cashflows For the half-year ended 31 December 2024 Consolidated statement of cash flows Cash flows from operating activities Proceeds from government grants and tax incentives Payments for exploration and evaluation expenditure Payments for administration, corporate finance activities and other expenditure Interest received Note 31 December 2024 $ 31 December 2023 $ 4 (726,955) (1,273,996) 689 (1,314,752) (1,563,423) 78,553 67,711 Net cash (used in) operating activities (1,922,398) (2,809,775) Cash flows from investing activities Payments for property, plant & equipment (3,905) (1,817) Net cash (used in) investing activities (3,905) (1,817) Cash flows from financing activities Proceeds from issue of shares Payments associated with the issue of shares Repayment of lease liabilities 5,091,353 (538,452) (62,832) (51,060) Net cash from / (used in) financing activities 4,490,069 (51,060) Net Increase / (decrease) in cash and cash equivalents 2,563,766 (2,862,652) Cash and cash equivalents at beginning of the period 3,426,744 4,717,592 Cash and cash equivalents at the financial period end 5,990,510 1,854,940 The consolidated statement of cash flows is to be read in conjunction with the notes to the financial statements. Refer to Note 2 on basis of preparation. 11 CODA MINERALS LIMITED and its controlled entities ACN 625 763 957 INTERIM FINANCIAL STATEMENTS Coda Minerals Limited and its controlled entities Notes to the Consolidated Financial Statements For the half-year ended 31 December 2024 1. REPORTING ENTITY Coda Minerals Limited (the ‘Company’ or ‘Coda’) is a company domiciled in Australia and listed on the Australian Securities Exchange “ASX” (ASX:COD). The consolidated interim financial report as at and for the six months ended 31 December 2024 comprise the Company and its subsidiaries’ (‘the Group’) results. The Company is a for-profit entity primarily involved in the exploration and evaluation of mineral resources. The annual financial report of the Company as at and for the year ended 30 June 2024 is available upon request from the Company’s registered office at 6 Altona Street, West Perth WA or at www.codaminerals.com 2. MATERIAL ACCOUNTING POLICIES Statement of Compliance These consolidated half-year financial statements are general purpose financial statements which have been prepared in accordance with AASB 134 Interim Financial Reporting and the Corporations Act 2001. Compliance with AASB 134 ensures compliance with International Financing Reporting Standard IAS 34 Interim Financial Reporting. The consolidated half-year financial statements do not include all the information required for a full annual report and should be read in conjunction with the annual financial report of the Group as at and for the year ended 30 June 2024 and any public announcements made by Coda during the half-year in accordance with the continuous disclosure requirements of the Corporations Act 2001. The consolidated half-year financial statements were approved by the Board of Directors on 26 February 2025. Basis of preparation The financial statements have been prepared under the historical cost convention, except for, where applicable, the revaluation of financial assets and liabilities at fair value through profit or loss, financial assets at fair value through other comprehensive income, investment properties, certain classes of property, plant and equipment and derivative financial instruments. All amounts are presented in Australian dollars, unless otherwise noted. Going Concern The financial statements have been prepared on a going concern basis. Use of estimates and judgements The preparation of the consolidated half year financial statements in conformity with AASB requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. In preparing these consolidated half-year financial statements, the significant judgements made by management in applying the Group’s accounting policies and the key sources of estimation uncertainty were the same as those that applied to the financial report for the period ended 30 June 2024. Accounting Policies The accounting policies and methods of computation adopted in the preparation of the half-year financial report are consistent with those adopted and disclosed in the Group’s 30 June 2024 financial report financial report. Adoption of new and revised Australian Accounting Standards A few new or amended standards became applicable for the current reporting period. The Group did not have to change its accounting policies or make retrospective adjustments because of adopting these standards. Therefore, the accounting policies adopted are consistent with those of the previous financial year and corresponding half-year reporting period. 3. SEGMENT INFORMATION An operating segment is a component of the Group that eng