Announcement PDF ANNUAL REPORT 2026 DIRECTORS Nader El Sayed Non-Executive Chairman James Croser Managing Director Steve Kovac Non-Executive Director COMPANY SECRETARY Peter Gilford REGISTERED OFFICE AND PRINCIPAL PLACE OF BUSINESS Level 2, 18 Richardson Street West Perth WA 6005 Tel: +61 8 6109 0104 SHARE REGISTRY Computershare Investor Services Pty Limited Level 17, 221 St Georges Terrace Perth WA 6000 Australian Telephone: 1300 850 505 International Telephone: +61 3 9415 4000 www.computershare.com.au AUDITORS KPMG 235 St Georges Terrace Perth WA 6000 SOLICITORS Thomson Geer Level 29, Central Park 152-158 St George Terrace Perth WA 6000 SECURITIES EXCHANGE LISTING Delta Lithium Limited securities are listed on the Australian Securities Exchange (ASX) ASX Code: DLI WEBSITE AND CORPORATE GOVERNANCE STATEMENT www.deltalithium.com.au E-MAIL info@deltalithium.com.au ACN 107 244 039 CORPORATE DIRECTORY CONTENTS PAGE REVIEW OF OPERATIONS FINANCIAL STATEMENTS NOTES SHAREHOLDER INFORMATION FINANCIAL STATEMENTS DIRECTORS REPORT CHAIRMAN’S LETTER 4 36 70 66 126 6 CHAIRMAN’S LETTER REVIEW OF OPERATIONS DIRECTORS REPORT FINANCIAL STATEMENTS FINANCIAL STATEMENTS NOTES ANNUAL REPORT 2026 – DELTA LITHIUM 3 I would like to begin by expressing our sincere thanks to Non-Executive Directors, Mr Josh Thurlow and Mr Tim Manners for their valuable contributions to the Delta Board. Their leadership and insight has helped set Delta up for future success. Throughout 2026 the Company remained disciplined in its approach to capital allocation while continuing to advance the quality and scale of its project portfolio. Our focus throughout the year was clear: preserve financial strength, build confidence in our resource base, progress development studies, and position Delta to capitalise on the next phase of growth in critical minerals demand. From a corporate perspective, FY2026 was highlighted by the successful separation of our gold assets into Ballard Mining Limited. The demerger and subsequent ASX listing represented a significant strategic milestone, enabling Delta to sharpen its focus on lithium and critical minerals while retaining a substantial equity interest in Ballard. The demerger also returned over $16 million to Delta shareholders. The success of the Ballard IPO and the continued drilling programs being conducted at Mt Ida reinforce the value unlocked through this transaction and the ongoing relationship between the two companies. I am pleased to report that Delta achieved significant milestones across both of our flagship assets, Mt Ida and Yinnetharra, while also unlocking what may prove to be substantial additional value through our emerging exposure to rubidium, tantalum and fluorite. At Mt Ida, the Company delivered an updated Mineral Resource Estimate of 14.8Mt @ 1.21% Li₂O, 170ppm Ta₂O₅ and 0.42% Rb₂O, establishing one of the highest-grade publicly reported rubidium resources globally. Importantly, the updated estimate incorporates a significant proportion of Measured and Indicated resources, providing greater confidence for future mine planning and development studies. Our understanding of the Mt Ida orebody continued to improve during the year through ongoing resource refinement, metallurgical programs and the benefit of additional drilling information generated from Ballard Mining’s gold CHAIRMAN’S LETTER DEAR SHAREHOLDERS, On behalf of the Board of Directors, I’m pleased to present the Annual Report for Delta Lithium Limited for the financial year ended 30 June 2026. ANNUAL REPORT 2026 – DELTA LITHIUM 4 CHAIRMAN’S LETTER REVIEW OF OPERATIONS DIRECTORS REPORT FINANCIAL STATEMENTS FINANCIAL STATEMENTS NOTES In line with our commitment to disciplined capital allocation and strategic growth, Delta undertook a comprehensive review of its asset portfolio.” drilling activities. These programs have enhanced geological confidence while reducing exploration expenditure for Delta. The commencement of the Mt Ida Scoping Study represents another important step toward defining a development pathway for the project and assessing the potential contribution of valuable by-product streams. One of the most exciting outcomes from FY2026 was the advancement of our rubidium strategy. Metallurgical testwork demonstrated the potential to recover rubidium from material that would traditionally be treated as waste within a conventional spodumene flowsheet. The successful production of both high- purity lithium carbonate and rubidium carbonate highlights the technological potential of Mt Ida and reinforces our belief that the project possesses characteristics that differentiate it from many lithium development peers. While further work remains, the Board is encouraged by the emerging strategic opportunity presented by this critical mineral. At Yinnetharra, the Company continued to demonstrate the scale and quality of this rapidly emerging district. The project hosts a Mineral Resource of 21.9Mt @ 1.0% Li₂O, with approximately 75% of the resource now classified in the Indicated category. During the year, Delta completed substantial geological, metallurgical and geotechnical work across the Malinda deposit while progressing mining lease applications and regional exploration programs. The Yinnetharra region continues to provide growth opportunities. We continue to define targets across numerous greenfields regional tenure which reinforces our view that the current resource inventory represents only a portion of the district’s potential. The acquisition and consolidation of strategic tenure positions has further strengthened our control over highly prospective ground and expanded our opportunity set for future discoveries. Another noteworthy development was the recognition of widespread fluorite mineralisation across portions of the Yinnetharra Project. While still at an early stage, the scale and grades encountered highlight the broader multi-commodity potential of the region and demonstrate the geological fertility of our landholding. Importantly, Delta enters FY2027 from a position of financial strength, with cash reserves of approximately $49.6 million and substantial listed investments. This strong balance sheet provides flexibility to continue advancing our existing projects, pursue disciplined exploration and evaluate opportunities that may complement our portfolio and enhance shareholder value. The global energy transition remains a powerful long-term investment theme. While lithium markets experienced continued volatility during the year, the underlying demand outlook for battery materials and critical minerals remains highly attractive. We believe Delta is well positioned to benefit from this trend through its significant resource base, advanced project pipeline and exposure to multiple critical minerals that are increasingly important to global supply chains. On behalf of the Board, I would like to thank our employees, contractors, traditional owners, local communities, shareholders and business partners for their continued support throughout the year. I would also like to acknowledge the dedication and professionalism of the Delta team, whose efforts continue to advance the Company through a changing market environment. The Board remains excited by the opportunities ahead and confident that Delta Lithium is building a portfolio capable of delivering long-term value for shareholders. Yours sincerely, Nader El Sayed Non-Executive Chairman ANNUAL REPORT 2026 – DELTA LITHIUM 5 CHAIRMAN’S LETTER REVIEW OF OPERATIONS DIRECTORS REPORT FINANCIAL STATEMENTS FINANCIAL STATEMENTS NOTES REVIEW OF OPERATIONS CASH BALANCE FOR FY26 METRES DRILLED ACROSS OUR PROJECTS TENURE AT THE YINNETHARRA PROJECT TENURE AT THE MT IDA PROJECT $49.58m 16,279m 2,325Km² 364Km² Figure 1: Delta Lithium Project Location ANNUAL REPORT 2026 – DELTA LITHIUM 6 CHAIRMAN’S LETTER REVIEW OF OPERATIONS DIRECTORS REPORT FINANCIAL STATEMENTS FINANCIAL STATEMENTS NOTES TOTAL LITHIUM RESOUCE TOTAL TANTALUM RESOURCE 36.7Mt @ 1.1% Li₂O 54.2Mt @ 121PPM Ta₂O₅ Overview FY2026 was a significant year for Delta Lithium Limited, marked by substantial advancement of the Mt Ida Lithium Project, continued exploration success at Yinnetharra, expansion of the Company’s land position, and the emergence of potentially valuable by-product opportunities in tantalum and rubidium. Throughout the year Delta maintained a strong balance sheet, backed by significant cash reserves and a major stake in the IPO of its gold assets via Ballard Mining Limited (ASX:BM1), while its progressing development studies and exploration programs across its Western Australian lithium portfolio. A major benefit to Delta during the year was the continued drilling activity being undertaken by Ballard Mining (ASX: BM1) across the Mt Ida Gold Project. These gold-focused drill programs intersected numerous known lithium occurrences particularly in the vicinity of Sister Sam and Timoni, providing Delta with additional geological information and increasing confidence in the lithium resources at minimal cost. Outlook FY2026 positioned Delta Lithium with two substantial lithium projects, a globally significant rubidium inventory and growing tantalum opportunities, with multicommodity potential emerging at Yinnetharra with the discovery of widespread fluorite mineralisation. Key objectives moving into FY2027 include advancing the Mt Ida Scoping Study, further resource growth at Yinnetharra, continued evaluation of rubidium recovery opportunities and follow-up exploration of the fluorite discoveries. The Company enters the next financial year with a strong balance sheet, advanced project pipeline and multiple avenues for value creation across its Western Australian portfolio. TOTAL RUBIDIUM OXIDE RESOURCE 14.8Mt @ 0.42% Rb₂O ANNUAL REPORT 2026 – DELTA LITHIUM 7 CHAIRMAN’S LETTER REVIEW OF OPERATIONS DIRECTORS REPORT FINANCIAL STATEMENTS FINANCIAL STATEMENTS NOTES Corporate Strategy Delta’s strategy over the past financial year has been ⊲ Strong focus on capital allocation and cash preservation ⊲ Building upon confidence at Yinnetharra ⊲ Moving towards monetising gold to fund growth ⊲ Open to acquisitions that complement our strategy ⊲ Goal to develop an operating mine The team at Delta made good progress to strategy during the 2026 financial year. Having delivered upon a pathway to monetise the gold asset at Mt Ida, the Company will stay focussed on continuing to build confidence at Yinnetharra whilst remaining open to complementary acquisitions in the lithium sector. Figure 2: Plan view to Mt Ida Project location with global resources REVIEW OF OPERATIONS (CONT’D) ANNUAL REPORT 2026 – DELTA LITHIUM 8 CHAIRMAN’S LETTER REVIEW OF OPERATIONS DIRECTORS REPORT FINANCIAL STATEMENTS FINANCIAL STATEMENTS NOTES The Company continued to build on its existing knowledge of Yinnetharra with the primary focus of increasing the lithium resource confidence at Malinda which has been achieved via a 75% Indicated lithium MRE. In addition, the Company also successfully identified the emergence of contiguous tantalum at Malinda which is under consideration for a secondary source of revenue requiring modest flowsheet additions. Looking forward, the Company is focussed on the following main objectives: ⊲ Add to the lithium resources at Yinnetharra, and progress negotiations and approvals for a Mining Lease at Malinda; ⊲ Maintain a close relationship with Ballard Mining at Mt Ida, ensuring cooperation on mineral rights achieves an optimal outcome for lithium mining; ⊲ Growth via disciplined exploration programs and investment; and ⊲ Strategically approaching complementary acquisition opportunities. Mt Ida Lithium Project The Mt Ida Project is located approximately 100km northwest of Menzies, and approximately 225km by road from Kalgoorlie in Western Australia’s prolific Eastern Goldfields mining region. The Project area resides on granted mining leases and is approved for open pit and underground mining. The Mt Ida Project remains Delta’s most advanced asset and was the primary focus of development activities during FY2026. During the year the Company updated the Mineral Resource Estimate (MRE) to 14.8Mt at 1.21% Li₂O, 170ppm Ta₂O₅ and 0.42% Rb₂O, establishing Mt Ida as one of the highest-grade publicly reported rubidium resources globally. The updated resource included 7.7Mt in the Measured and Indicated categories, supporting future mine planning and project development activities. MRE Update Delta updated the independent Lithium Mineral Resource Estimate (MRE) which was prepared by Snowden Optiro on the Sister Sam, Timoni and Sparrow pegmatites at the Company’s wholly owned Mt Ida Lithium Project – see Table 1. The MRE update has been reported under the Reasonable Prospectus for Eventual Economic Extraction (RPEEE) criteria. This only includes material that falls within Open Pit shells & Mineable Shape Optimizer’s (MSO’s) – refer to ASX announcement dated 13 November 2025 ‘Mt Ida Lithium and Rubidium MRE’ for full details of the economic parameters used. The MRE update was as a result of previous drilling conducted by Delta and current gold drilling by Ballard Mining, which continues to intercept the lithium orebodies. This has resulted in the refining of wireframes, reducing volumes in certain areas and extending mineralisation in others but ultimately leading to an increase in overall confidence and tonnes. REVIEW OF OPERATIONS (CONT’D) ANNUAL REPORT 2026 – DELTA LITHIUM 9 CHAIRMAN’S LETTER REVIEW OF OPERATIONS DIRECTORS REPORT FINANCIAL STATEMENTS FINANCIAL STATEMENTS NOTES Mt Ida Lithium, Tantalum & Rubidium Resource November 2025 Li₂O Ta₂O₅ Rb₂O Resource category Cut-off grade (Li₂O%) Tonnes (t) Grade (Li₂O%) Tonnes (Li₂O) Grade (Ta₂O₅ ppm) Grade (Rb₂O%) Sparrow OP Measured 0.3 - - - - - Indicated 170,000 0.95 1,600 287 0.42 Inferred - - - - - Total Resource 170,000 0.95 1,600 287 0.42 UG Measured 0.5 - - - - - Indicated 1,100,000 1.05 11,000 176 0.43 Inferred 1,100,000 0.93 18,000 141 0.40 Total Resource 2,200,000 0.99 29,000 159 0.42 All Measured - - - - - Indicated 1,300,000 1.03 13,000 191 0.43 Inferred 1,100,000 0.93 18,000 141 0.40 Total Resource 2,400,000 0.99 31,000 168 0.42 Sister Sam OP Measured 0.3 270,000 1.30 3,500 268 0.44 Indicated 3,200,000 1.45 46,000 257 0.48 Inferred 82,000 1.07 880 176 0.39 Total Resource 3,500,000 1.43 51,000 256 0.47 UG Measured 0.5 - - - - - Indicated 2,000,000 1.38 27,000 166 0.45 Inferred 4,900,000 1.12 55,000 119 0.38 Total Resource 6,900,000 1.19 82,000 133 0.40 All Measured 270,000 1.30 3,500 268 0.44 Indicated 5,200,000 1.42 73,000 222 0.47 Inferred 5,000,000 1.12 55,000 120 0.38 Total Resource 10,400,000 1.27 130,000 175 0.42 REVIEW OF OPERATIONS (CONT’D) ANNUAL REPORT 2026 – DELTA LITHIUM 10 CHAIRMAN’S LETTER REVIEW OF OPERATIONS DIRECTORS REPORT FINANCIAL STATEMENTS FINANCIAL STATEMENTS NOTES Li₂O Ta₂O₅ Rb₂O Resource category Cut-off grade (Li₂O%) Tonnes (t) Grade (Li₂O%) Tonnes (Li₂O) Grade (Ta₂O₅ ppm) Grade (Rb₂O%) Timoni OP Measured 0.3 220,000 1.09 2,400 240 0.33 Indicated 290,000 1.18 3,400 216 0.41 Inferred 27,000 0.75 210 185 0.25 Total Resource 540,000 1.12 6,000 224 0.37 UG Measured 0.5 - - - - - Indicated 470,000 1.35 6,400 191 0.33 Inferred 1,000,000 0.99 10,000 137 0.38 Total Resource 1,500,000 1.11 16,000 154 0.37 All Measured 220,000 1.09 2,400 240 0.33 Indicated 760,000 1.29 9,900 200 0.36 Inferred 1,000,000 0.98 10,000 138 0.38 Total Resource 2,000,000 1.11 22,000 173 0.37 Total Measured 490,000 1.20 5,900 256 0.39 Total Indicated 7,200,000 1.34 96,000 215 0.45 Total Inferred 7,100,000 1.07 76,000 126 0.38 Total 14,800,000 1.21 177,000 170 0.42 Notes: Tonnages and grades have been rounded to reflect the relative uncertainty of the estimate. Inconsistencies in the totals are due to rounding. Table 1: Mt Ida lithium, tantalum and rubidium JORC mineral resource estimate. REVIEW OF OPERATIONS (CONT’D) ANNUAL REPORT 2026 – DELTA LITHIUM 11 CHAIRMAN’S LETTER REVIEW OF OPERATIONS DIRECTORS REPORT FINANCIAL STATEMENTS FINANCIAL STATEMENTS NOTES Hole ID From To Length Li₂O % Ta₂O₅ ppm Rb₂O % BDG001 423.04 435 12 1.36 325 5116 DFS066B 121 144 23 1.04 68 4673 DFS392 189 210 21 2.07 229 6670 DFS393 196 210 14 1.27 185 4059 DFS395 196 227 31 1.84 183 5162 DFS396 206 236 30 1.88 177 4955 DFS398 209 240 31 1.37 232 4168 DFS399 217 254 37 2.05 254 6481 DFS399A 214 254 40 1.61 227 4603 DFS402 232 259 27 1.56 251 4801 DFS406 251 285 34 1.86 209 5915 DFS621B 352.85 367.55 14.7 1.48 159 3367 DFS680 221 247 26 1.31 305 4316 DFS694 259 268 9 1.84 107 5601 DFS694 273 288 15 1.72 424 5969 DFS695 247.62 265.17 17.6 2.04 295 6119 DFS695 268.49 283.47 15 1.74 294 5758 DFS702 309 333 24 2 138 5269 TNEX011 648.05 658 10 1.4 117 4146 Table 2: List of significant intercepts from infill drilling of the current Mt Ida Lithium MRE Ongoing Exploration at Mt Ida Ballard Mining’s (ASX:BM1) current gold exploration drilling, mainly in the vicinity of their Baldock and Meteor gold resources, has continued to return high-grade mineralised lithium intervals for Delta. Where pegmatites are intercepted during the gold drilling programs, Delta has been assaying the pegmatites for lithium. These intercepts demonstrate the quality of the Mt Ida lithium resource while also significantly increasing confidence in the model. REVIEW OF OPERATIONS (CONT’D) ANNUAL REPORT 2026 – DELTA LITHIUM 12 CHAIRMAN’S LETTER REVIEW OF OPERATIONS DIRECTORS REPORT FINANCIAL STATEMENTS FINANCIAL STATEMENTS NOTES REVIEW OF OPERATIONS (CONT’D) Figure 3: View facing Southeast showing Sister Sam & Timoni MRE’s, classification and recent lithium intercepts Figure 4: 20m cross section showing intercepts from Sister Sam and recently discovered footwall pegmatite These additional infill holes were used to refine the existing MRE model and were incorporated into the MRE update which was completed in November 2025 and will also be incorporated into future resource updates. This drilling also provides additional high‑grade diamond core which Delta is utilising for ongoing metallurgical testwork programs supporting flowsheet optimisation. Notably, one of the recent intervals has intercepted the footwall pegmatite approximately 100m below Sister Sam which has returned 11.9m @ 1.36% Li₂O in BDG001 from 423m. This interval is on the very fringe of the current model which bodes well for down-dip continuity and represents a compelling target for future drilling – see section on Figure 4. ANNUAL REPORT 2026 – DELTA LITHIUM 13 CHAIRMAN’S LETTER REVIEW OF OPERATIONS DIRECTORS REPORT FINANCIAL STATEMENTS FINANCIAL STATEMENTS NOTES These new lithium results and a new pegmatite discovery are very encouraging for the Mt Ida Lithium Project and confirm the high potential of discovering further resources at depth and along strike of the existing Lithium MRE with future drilling. Furthermore, a thorough review of the Mt Ida database during the year has confirmed that the Mt Ida LCT pegmatite system also hosts high-grade rubidium, coincident and seemingly correlated with the existing high-grade lithium and tantalum mineralised zones. Very high-grade rubidium intercepts have been assayed, including intercepts REVIEW OF OPERATIONS (CONT’D) of up to 5m @ 1.79% Rb₂O in hole GCS0013. Table 3 below includes a selection of the many significant rubidium intercepts contained within the existing Mt Ida LCT pegmatites. The rubidium is completely contained within the existing MRE, potentially adding significant value as a co-product to the lithia production at the Mt Ida Project by reporting to the mica pre-float concentration part of the existing Mt Ida WOF flowsheet design. As a result, this new data was incorporated into a MRE update for Mt Ida (inclusive of rubidium), which Delta released in the December Quarter. Hole ID From To   Length Li₂O % Ta₂O₅ ppm Rb₂O % IDRD162 275.96 318 42.04 1.77 382 0.71 IDRD077W2 385.1 443.03 57.93 1.37 187 0.55 IDRD077 398.31 436.58 38.27 1.20 146 0.56 IDRD178 353 390.93 37.93 1.26 204 0.54 DFS399 217 254 37 2.05 254 0.71 IDRD229W1 676 740.96 64.96 1.1 122 0.46 SSRD058 574.85 603.58 28.73 1.6 112 0.51 IDRD041 142.92 169 26.08 1 65 0.51 GCS0077 63 89 21 1 203 0.35 GCS0013 55 60 5 0.84 44 1.79 Table 3: Significant rubidium intercepts within the Mt Ida pegmatites CHAIRMAN’S LETTER REVIEW OF OPERATIONS DIRECTORS REPORT FINANCIAL STATEMENTS FINANCIAL STATEMENTS NOTES ANNUAL REPORT 2026 – DELTA LITHIUM 14 REVIEW OF OPERATIONS (CONT’D) Delta has conducted initial metallurgical testwork on the existing mica concentrate which was completed in February. This is discussed in detail below. The incorporation of this additional drilling when combined with advanced metallurgy, environmental and geotechnical works has allowed for the delineation of a portion of measured resources – see Figure 5. This is a great benefit to the Project and speaks to the confidence of the shallow material which would be the initial focus in a mining scenario. Figure 5: View facing Southeast showing Mt Ida Lithium Resource Classification & unconstrained Rubidium oxide block model CHAIRMAN’S LETTER REVIEW OF OPERATIONS DIRECTORS REPORT FINANCIAL STATEMENTS FINANCIAL STATEMENTS NOTES 15 ANNUAL REPORT 2026 – DELTA LITHIUM REVIEW OF OPERATIONS (CONT’D) The primary aim of the update to the MRE was to determine the spatial distribution of contained rubidium, which occurs entirely within the existing lithium wireframes, while updating the classification based upon the metallurgical and geotechnical feasibility work that has been completed to date. This resulting MRE highlights Mt Ida as a globally significant potential source of rubidium material as well as the world’s current highest-grade resource according to public data – see Figure 6. Figure 6: Bubble chart illustrating Mt Ida’s Rb Mineral Resource compared with publicly released global Rb Mineral Resources (Inferred, Indicated and Measured reported according to JORC (2012) and NI-43 101). Alvarrões Karibib (Rubicon) Karibib (Helikon 1) Karibib (Helikon 4) King Tamba (Dalgaranga) Mt. Edon Niobe Pakeagama Lake (PAK) Pakeagama Lake (Spark) Reung Kiet Uis Zoro1 (Dyke 1) Mt Ida (DELTA LITHIUM) Seymour 0 0.05 0.1 0.15 0.2 0.25 0.3 0.35 0.4 0.45 0.5 - 20,000 40,000 60,000 80,000 100,000 120,000 GRADE Rb 2 O% Measured, Indicated & Inferredcontained tonnes Rb RUBIDIUM WORLDWIDE JORC/43-101 Contained Tonnes Rb x Grade ANNUAL REPORT 2026 – DELTA LITHIUM 16 CHAIRMAN’S LETTER REVIEW OF OPERATIONS DIRECTORS REPORT FINANCIAL STATEMENTS FINANCIAL STATEMENTS NOTES REVIEW OF OPERATIONS (CONT’D) Metallurgical Studies Extensive metallurgical testwork has been completed on the Mt Ida Lithium Project to date. Feasibility testwork has confirmed that the Mt Ida deposit can produce tantalum, mica & spodumene concentrates via a process flowsheet including spirals and whole ‘ore’ flotation (WOF). Figure 7 illustrates the Mt Ida flowsheet and staged separation of spodumene, mica and tantalite concentrates. Existing WOF flowsheet testwork confirmed that rubidium is readily extracted as a byproduct within the mica pre-float stage and reports to the mica concentrate. The amenability of the existing flowsheet to recover >90% of Rubidium in the ore feed and up to 50-55% of the total contained Li₂O during this mica pre-float process, resulting in production of a high-grade lithium/rubidium concentrate with an overall average grade of 3.01% Li₂O and 1.8% Rb₂O based on flotation work to date. Figure 7: Mt Ida Lithium process flowsheet with average Li & Rb concentrate grades based on testwork to date ROM BIN PRIMARY CRUSHER CRUSHING SCREEN CRUSHED ORE STOCKPILE TERTIARY CRUSHER SECONDARY CRUSHER MILLING & CLASSIFICATION CLASSIFICATION CYCLONE DEWATERING CYCLONE DEWATERING CYCLONE DESLIME CYCLONE LIMS WHIMS TANTALUM RECOVERY TANTALUM CONCENTRATE TAILINGS THICKENER TAILINGS STORAGE FACILITY SPODUMENE FILTRATION SPODUMENE CONCENTRATE SPODUMENE THICKENER SPODUMENE FLOTATION MICA THICKENER MICA FLOTATION MICA FILTRATION MICA CONCENTRATE Lithium Rubidium concentrate produced 3% Li₂O, 1.8% Rb₂O ANNUAL REPORT 2026 – DELTA LITHIUM 17 CHAIRMAN’S LETTER REVIEW OF OPERATIONS DIRECTORS REPORT FINANCIAL STATEMENTS FINANCIAL STATEMENTS NOTES REVIEW OF OPERATIONS (CONT’D) These results are extremely encouraging and present with significant concentrations of high value critical minerals. As a result, Delta completed first pass downstream hydrometallurgical testwork using mica concentrates generated from the Company's Whole-of-Ore flotation flowsheet at Mt Ida. This study represented one of the most important technical milestones of the year, providing encouraging results upon which to build upon. Testwork successfully produced: ⊲ 99.8% purity lithium carbonate (Li₂CO₃) suitable for battery manufacturing. ⊲ Approximately 97% purity rubidium carbonate (Rb₂CO₃). ⊲ Overall lithium recovery of approximately 86% from concentrate to lithium carbonate. ⊲ Rubidium recovery of approximately 67% into a high-grade carbonate product, suitable for formate production. The work demonstrated that rubidium could potentially be recovered from a stream that would ordinarily be considered waste material during spodumene processing, creating a possible additional revenue source for the Project. Management subsequently commenced discussions with prospective end-users and supply chain participants regarding rubidium products as the Company continued to evaluate the strategic value of its rubidium inventory. Figure 8: MT Ida Lithium carbonate produced from mica concentrate ANNUAL REPORT 2026 – DELTA LITHIUM 18 CHAIRMAN’S LETTER REVIEW OF OPERATIONS DIRECTORS REPORT FINANCIAL STATEMENTS FINANCIAL STATEMENTS NOTES REVIEW OF OPERATIONS (CONT’D) Rubidium Market The global rubidium market is relatively small but strategically significant segment within the specialty metals sector, underpinned by its unique properties and expanding high-technology applications. Traditionally used in specialty glass, electronics and chemical research, rubidium demand is increasingly driven by the following industries; ⊲ Military and Defence Systems ⊲ Quantum Technologies ⊲ Biomedical Applications ⊲ Oil & Gas Drilling Applications ⊲ Next-generation Sensors (Atomic Clocks) Emerging uses in quantum navigation, medical imaging, and specialty formate fluids are broadening the markets’ commercial footprint beyond its historical niche. Rubidium is a heavier alkali metal with a free outer valance electron, making it particularly valuable in quantum mechanics research where this hydrogen-like characteristic proves ideal for precision modelling in quantum mechanics and atomic physics. The scarcity of high-purity supply and rising demand from defence, aerospace and energy technology sectors point to a tightening geostrategic market and sustained upward demand trajectory through the decade which is expected to reach USD $8 billion by 2033. Its recent designation as a critical mineral in key markets such as the United States and Japan, coupled with the global push to secure non-Chinese supply chains, positions Delta favourably in Western markets. Last stated by SMM at a price of USD$1,067 per kilogram for high-purity rubidium carbonate, the potential value contribution from rubidium represents a significant strategic upside for the Mt Ida Project. Commencement of Mt Ida Scoping Study As advised to the market on 16 May 2026, Delta has commenced a scoping study on the Mt Ida project. The study is well advanced with results targeted to be released this calendar year. The scope of the study will investigate lithium ore production and concentration onsite at Mt Ida, incorporating the potential of byproduct credits. 19 CHAIRMAN’S LETTER REVIEW OF OPERATIONS DIRECTORS REPORT FINANCIAL STATEMENTS FINANCIAL STATEMENTS NOTES ANNUAL REPORT 2026 – DELTA LITHIUM REVIEW OF OPERATIONS (CONT’D) Yinnetharra Lithium Project The Yinnetharra Lithium Project is located in the Gascoyne region of Western Australia, targeting lithium mineralisation across 2,325km² of 100% owned project tenure. A MRE update for Yinnetharra was released in March 2025 of 21.9 Mt @ 1% Li₂O and 75ppm Ta₂O₅ and an additional 17.5Mt @ 136ppm Ta₂O₅. the combined total Yinnetharra Tantalum Mineral Resource is estimated at 39.4Mt @ 102ppm Ta₂O₅. Acquisitions have expanded the prospective stratigraphy to over 80km in length of the Leakes Springs metasediment package. The Malinda Project is well advanced with feasibility level metallurgy and geotechnical studies completed on the M1 orebody and a mining lease application submitted over the area. The large regional tenure presents compelling upside potential for additional resource tonnes. Lithium resources at Malinda are present in three main pegmatites: the M1, M36 and M47, with smaller resources at M42, M20, M67 and M69. Mineralisation extends from surface to a depth of greater than 300m. The recent MRE update has now classified 74% of the Resource as indicated underpinning future studies and project development pathways. The investigation of various mining scenarios are well advanced, while the regional tenure presents upside for additional resource tonnes. Figure 9: Yinnetharra tenure highlighting Mineral Resource locations and Mining Lease Application 20 CHAIRMAN’S LETTER REVIEW OF OPERATIONS DIRECTORS REPORT FINANCIAL STATEMENTS FINANCIAL STATEMENTS NOTES ANNUAL REPORT 2026 – DELTA LITHIUM Yinnetharra Lithium & Tantalum Resource March 2025 Resource category Cut-off grade (Li₂O%) Tonnes (Mt) Li₂O% Li₂O (Kt) Ta₂O₅ ppm Ta₂O₅ (Kt) M1 Measured 0.5 - - - - - Indicated 9.9 0.9 92 51 0.5 Inferred 2.9 0.8 24 52 0.2 Total Resource 12.7 0.9 117 51 0.6 M2 Measured 0.5 - - - - - Indicated - - - - - Inferred 0.2 1.2 2 29 0.0 Total Resource 0.2 1.2 2 29 0.0 M3 Measured 0.5 - - - - - Indicated - - - - - Inferred 0.2 1.0 1 24 0.0 Total Resource 0.2 1.0 1 24 0.0 M4 Measured 0.5 - - - - - Indicated - - - - - Inferred 0.1 0.8 0 20 0.0 Total Resource 0.1 0.8 0 20 0.0 M20 Meas