ASX: RNU · Five-year financial review

Renascor Resources Limited (ASX: RNU) - Five-Year Financial Review FY2021-FY2025

Five consolidated financial years ended 30 June 2021-2025, in Australian dollars unless a table labels shares, cents or graphite tonnes. The financial tables use current-year statement values except the identified FY2023 EPS comparative; Siviour Resource and Reserve figures are annual-report snapshots.

Financial years ended 30 June 2021, 2022, 2023, 2024 and 2025; balance-sheet figures are at each 30 June. Annual-report dates are recorded in the source registry. · Editorial review: 2026-09-24 · MII Research

Reading the tables: 0 (nil) is a supported zero. Other text distinguishes an amount included in another line, a non-applicable item, a separately unavailable component and an unresolved value. These are not interchangeable. Period-specific detail is labelled; complete year-by-year detail remains available.

FY2025 profit after tax

A$1.829m

Consolidated statutory result; rounded from AUD 1,829,388.

FY2025 cash-flow closing balance

A$105.391m

Includes A$90m term deposits; balance-sheet cash line is A$15.391m.

FY2025 development asset

A$54.505m

Siviour capitalised carrying amount at 30 June 2025.

FY2025 total equity

A$171.392m

Consolidated balance sheet at 30 June 2025.

Five years in context

Renascor remained a graphite project developer with no revenue from products or services in these annual reports. Interest income on cash holdings was the main reported revenue line; the statutory result moved from losses in FY2021-FY2022 to modest profits in FY2023-FY2025. Capital raised through equity funded the Siviour development asset and exploration work.

The balance sheet separates on-call cash from current term deposits from FY2023. At 30 June 2025, A$90m was in term deposits and A$15.391m in cash and equivalents, while the cash-flow statement reports A$105.391m at year end. The A$185m Export Finance Australia facility was an approval milestone; the issuer stated no borrowings at 30 June 2024 or 2025.

Events behind the numbers

FY2021

Siviour pilot work and placement

During the year to 30 June 2021, a large-scale flotation pilot processed more than 70 tonnes of Siviour ore; Renascor also reported A$17.882m raised net of costs for exploration and Siviour development.

FY2022

Equity-funded project work

The 3 May 2022 placement issued 240,740,741 shares for gross A$65m. FY2022 narrative reported A$62.698m raised net of costs and a 17% increase in Indicated Resource.

FY2023

Mine operating approval

The South Australian authority approved Siviour's Program for Environment Protection and Rehabilitation in November 2022, permitting planned concentrate processing up to 1.65 Mtpa; this was an approval, not operating production.

FY2024

Finance approval and early engineering

Export Finance Australia confirmed the A$185m project-loan approval on 17 April 2024; an Early Contractor Involvement process began on 24 June 2024. Neither event is represented as a drawn borrowing.

FY2025

Downstream authorisation advances

In June 2025 the South Australian planning minister granted provisional development authorisation for the planned commercial-scale battery anode material facility for up to 100,000 tonnes a year of purified spherical graphite.

FINANCIAL REVIEW / 01

Income and earnings

Interest receipts and income dominate the reported profit path; the annual reports show no product sales. The FY2023 EPS comparative discrepancy is isolated below rather than treated as a proven restatement.

Statutory profit or loss after tax

AUD

Profit/(Loss) after income tax

AUD; statutory result, losses below zero. Values come directly from the income table.

AI-generated presentation · values from Consolidated income statement, AUD; no missing values plotted as zero.

Consolidated income statement, AUD

AUD

Metric	FY2021	FY2022	FY2023	FY2024	FY2025
Interest revenue	3,778	6,093	2,967,011	5,007,080	4,986,165
Other income	8,000	0 (nil)	255	540	75,000
Total revenue	11,778	6,093	2,967,266	5,007,620	5,061,165
Administration and consulting	-424,832	-575,552	-872,505	-978,428	-965,882
Depreciation and amortisation	-1,823	-4,388	-11,074	-119,331	-137,761
Employee benefits	-324,364	-454,948	-1,292,480	-1,792,716	-1,670,336
Office accommodation	-30,596	-30,596	-30,597	Not separately presented	Not separately presented
Impairment of exploration expenditure	0 (nil)	-198,898	-23,531	-1,144	-34,958
Legal fees	-13,998	-12,115	-4,434	Not separately presented	Not separately presented
Other expenses	-93,395	-226,238	-307,929	-408,337	-422,840
Other expenses (comparable presentation)	-137,989	-268,949	-342,960	-408,337	-422,840
Total expenses	-889,008	-1,502,735	-2,542,550	-3,299,956	-3,231,777
Profit/(Loss) before income tax	-877,230	-1,496,642	424,716	1,707,664	1,829,388
Income tax expense	0 (nil)	0 (nil)	0 (nil)	0 (nil)	0 (nil)
Profit/(Loss) after income tax	-877,230	-1,496,642	424,716	1,707,664	1,829,388

All amounts are reported dollars. Expense rows retain negative signs; nil tax is a source-supported nil, not a missing value.

FY2021–FY2023 original statements show office accommodation and legal fees separately from Other expenses. Their signed analytical sums with Other expenses are AUD (137,989), (268,949), and (342,960). FY2024–FY2025 columns in the added bridge are the issuer-reported unsplit Other expenses totals, AUD (408,337) and (422,840). The selected records do not establish whether or how much office/legal cost occurred or was allocated within those later totals. This is a presentation comparison, not proof of identical composition or an additional expense to add to statutory totals.

Basis and presentation notes (11)

Other income / FY2022 — 0 (nil): Issuer table marks this line nil for the period.
Office accommodation / FY2024 — Not separately presented: FY2024 statement has no separate Office accommodation line. R002693 is the unsplit Other expenses total; selected evidence does not establish whether this component occurred or its amount/allocation.
Office accommodation / FY2025 — Not separately presented: FY2025 statement has no separate Office accommodation line. R003643 is the unsplit Other expenses total; selected evidence does not establish whether this component occurred or its amount/allocation.
Impairment of exploration expenditure / FY2021 — 0 (nil): Issuer table marks this line nil for the period.
Legal fees / FY2024 — Not separately presented: FY2024 statement has no separate Legal fees line. R002693 is the unsplit Other expenses total; selected evidence does not establish whether this component occurred or its amount/allocation.
Legal fees / FY2025 — Not separately presented: FY2025 statement has no separate Legal fees line. R003643 is the unsplit Other expenses total; selected evidence does not establish whether this component occurred or its amount/allocation.
Income tax expense / FY2021 — 0 (nil): Issuer table marks this line nil for the period.
Income tax expense / FY2022 — 0 (nil): Issuer table marks this line nil for the period.
Income tax expense / FY2023 — 0 (nil): Issuer table marks this line nil for the period.
Income tax expense / FY2024 — 0 (nil): Issuer table marks this line nil for the period.
Income tax expense / FY2025 — 0 (nil): Issuer table marks this line nil for the period.

Source: Renascor Resources Limited annual reports FY2021-FY2025; each value retains its source record in the author evidence file.

Earnings per share and diluted share base

Cents per share or shares, as labelled

Metric	FY2021	FY2022	FY2023	FY2024	FY2025
Basic earnings per sharecents per share	-0.1	-0.1	0.02	0.07	0.07
Diluted earnings per sharecents per share	-0.1	-0.1	0.02	0.07	0.07
Weighted average shares — basicnumber of shares	1,617,816,869	1,932,584,840	2,369,539,586	2,539,803,015	2,542,041,801
Weighted average shares — dilutednumber of shares	1,617,816,869	1,932,584,840	2,371,392,101	2,548,720,502	2,572,860,190

FY2023 original income statement prints 0.2 cents for both EPS lines (R001894, R001896), while the FY2024 comparative prints 0.02 cents. The later comparative is displayed for FY2023 and the discrepancy remains recorded; no formal restatement is inferred.

Share counts are weighted averages; they are not the shares outstanding at 30 June. FY2021-FY2022 loss periods treat potential shares as anti-dilutive.

Source: Renascor Resources Limited annual reports FY2021-FY2025; each value retains its source record in the author evidence file.

FINANCIAL REVIEW / 02

Liquidity and financial position

The development asset rose as the company capitalised Siviour expenditure. Term deposits shifted the presentation of liquidity: the cash-flow closing line and balance-sheet cash line should be read with the separate current financial-assets row.

Cash-flow statement closing cash and equivalents

AUD

Cash and cash equivalents at end of year in cash-flow statement

AUD. From FY2023 this statement line includes current term deposits disclosed separately on the balance sheet.

AI-generated presentation · values from Balance-sheet liquidity and cash-flow reconciliation, AUD; no missing values plotted as zero.

Balance-sheet liquidity and cash-flow reconciliation, AUD

AUD

Metric	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and cash equivalents on balance sheet	17,273,801	74,035,061	89,270,091	80,021,761	15,390,842
Current financial assets: term deposits	Not separately presented	Not separately presented	40,000,000	30,000,000	90,000,000
Cash and cash equivalents at end of year in cash-flow statement	17,273,801	74,035,061	129,270,091	110,021,761	105,390,842

From FY2023, the cash-flow statement closing line includes term deposits also shown as separate current financial assets on the balance sheet (FY2023 AUD 40m; FY2024 AUD 30m; FY2025 AUD 90m). Do not add the two lines again.

FY2021 directors' narrative says deposits at call AUD 17,273,701, while the audited balance sheet reports cash and equivalents AUD 17,273,801 including cash on hand AUD 100. The table uses the audited balance sheet.

Basis and presentation notes (2)

Current financial assets: term deposits / FY2021 — Not separately presented: FY2021 balance sheet has no separate current financial-assets line; no zero is inferred.
Current financial assets: term deposits / FY2022 — Not separately presented: FY2022 balance sheet has no separate current financial-assets line; no zero is inferred.

Source: Renascor Resources Limited annual reports FY2021-FY2025; each value retains its source record in the author evidence file.

Consolidated statement of financial position, AUD

AUD

Metric	FY2021	FY2022	FY2023	FY2024	FY2025
Other receivables (current)	109,420	441,106	2,091,236	2,963,800	1,380,881
Prepayments	67,305	19,891	128,710	179,702	156,200
Total current assets	17,450,526	74,496,058	131,490,037	113,165,263	106,927,923
Property, plant and equipment	9,559	11,738	38,395	11,514,115	12,312,929
Exploration and evaluation	1,659,037	1,458,671	1,496,007	1,633,840	1,845,182
Development asset	17,060,233	21,457,620	35,898,362	44,572,222	54,505,049
Total non-current assets	18,773,829	22,973,029	37,477,764	57,919,996	68,977,979
Total assets	36,224,355	97,469,087	168,967,801	171,085,259	175,905,902
Trade and other payables (current)	441,226	1,046,426	2,483,385	1,730,871	3,023,794
Provisions (current)	601,324	144,653	273,934	381,851	449,898
Lease liabilities (current)	Not separately presented	Not separately presented	0 (nil)	123,704	461,839
Total current liabilities	1,042,550	1,191,079	2,757,319	2,236,426	3,935,531
Total non-current liabilities	Not separately presented	2,743	10,150	90,028	578,500
Total liabilities	1,042,550	1,193,822	2,767,469	2,326,454	4,514,031
Issued capital (consolidated)	51,903,152	114,601,254	183,825,034	184,073,400	184,255,773
Reserves (consolidated)	247,340	139,340	415,911	1,018,354	1,639,659
Accumulated losses (consolidated)	-16,968,687	-18,465,329	-18,040,613	-16,332,949	-14,503,561
Total equity / Net assets (consolidated)	35,181,805	96,275,265	166,200,332	168,758,805	171,391,871

Balances are at 30 June of the stated year and use consolidated current-year statements where available. FY2023 original balance-sheet values were checked against the FY2024 comparative and agree for the displayed lines.

The Siviour development asset is a capitalised carrying amount, not annual cash spend. Financial assets, including term deposits, appear in the separate liquidity table.

Basis and presentation notes (4)

Lease liabilities (current) / FY2021 — Not separately presented: FY2021 balance sheet does not separately present a lease-liability line.
Lease liabilities (current) / FY2022 — Not separately presented: FY2022 balance sheet does not separately present a lease-liability line.
Lease liabilities (current) / FY2023 — 0 (nil): Reported nil in source (dash).
Total non-current liabilities / FY2021 — Not separately presented: FY2021 consolidated balance sheet contains current and total liabilities but no non-current-liability subtotal.

Source: Renascor Resources Limited annual reports FY2021-FY2025; each value retains its source record in the author evidence file.

FINANCIAL REVIEW / 03

Cash flows and Siviour spending

Operating cash inflow remained smaller than investment in the project and associated property, plant and equipment in FY2024-FY2025. FY2025 grant co-funding is an investing cash receipt; the larger grant award is a distinct project milestone.

Operating and investing cash flow

AUD

Net cash from / (used in) operating activitiesNet cash used in investing activities

AUD; net investing cash is shown with its reported negative sign. Both series use the same cash-flow statement table.

AI-generated presentation · values from Consolidated cash-flow statement, AUD; no missing values plotted as zero.

Consolidated cash-flow statement, AUD

AUD

Metric	FY2021	FY2022	FY2023	FY2024	FY2025
Payments to suppliers and employees, as reported	-728,952	-1,394,221	-1,617,216	-2,226,918	-2,348,390
Interest received	3,778	6,093	1,615,260	4,933,453	5,165,806
Net cash from / (used in) operating activities	-721,077	-974,038	329,576	2,706,535	2,892,416
Payments for property, plant and equipment	-7,703	-6,567	-35,097	-10,831,167	-91
Payments for exploration and evaluation	-408,383	-48,532	-49,523	-119,618	-143,715
Payments for development assets	-1,327,232	-4,542,348	-14,093,418	-10,897,739	-9,300,203
Grant co-funding received (investing)	Not separately presented	Not separately presented	Not separately presented	0 (nil)	2,250,000
Net cash used in investing activities	-1,743,318	-4,547,447	-14,177,783	-21,952,803	-7,309,009
Proceeds from issue of shares	19,205,735	65,913,368	70,000,000	0 (nil)	Not separately presented
Net cash from / (used in) financing activities	17,882,412	62,282,745	69,083,237	-2,062	-214,326
Net increase / (decrease) in cash and cash equivalents	15,418,017	56,761,260	55,235,030	-19,248,330	-4,630,919
Cash and cash equivalents at end of period	17,273,801	74,035,061	129,270,091	110,021,761	105,390,842

FY2021-FY2023 statements show GST receipts/payments separately from supplier and employee payments; FY2024-FY2025 use one combined payments line. The first row has a visible basis break and must not be read as a like-for-like cost trend.

FY2025 investing inflow of AUD 2,250,000 is grant co-funding cash received; it is separate from the AUD 5m grant award described in the annual-report narrative. FY2025 financing includes AUD 212,226 lease-liability payments and AUD 2,100 capital raising costs.

Closing cash in the cash-flow statement includes term deposits from FY2023 onward; see the liquidity table.

Basis and presentation notes (6)

Grant co-funding received (investing) / FY2021 — Not separately presented: FY2021 investing statement has no grant co-funding line.
Grant co-funding received (investing) / FY2022 — Not separately presented: FY2022 investing statement has no grant co-funding line.
Grant co-funding received (investing) / FY2023 — Not separately presented: FY2023 investing statement has no grant co-funding line.
Grant co-funding received (investing) / FY2024 — 0 (nil): Issuer table marks this line nil for the period.
Proceeds from issue of shares / FY2024 — 0 (nil): Issuer table marks this line nil for the period.
Proceeds from issue of shares / FY2025 — Not separately presented: FY2025 financing statement contains lease payments and capital-raising costs, but no share-proceeds line.

Source: Renascor Resources Limited annual reports FY2021-FY2025; each value retains its source record in the author evidence file.

FINANCIAL REVIEW / 04

Equity funding and shareholder returns

The capital base expanded through placements and option exercises, especially in FY2021-FY2023. The FY2022 share count comes from that year's issued-capital schedule. Each annual report states no dividend was paid, recommended or declared.

Equity funding and ordinary shares

Shares or AUD, as labelled

Metric	FY2021	FY2022	FY2023	FY2024	FY2025
Closing fully paid ordinary sharesshares	1,878,711,652	2,154,413,438	2,539,407,498	2,541,390,503	2,543,154,360
Closing contributed equity — issued capitalAUD	51,903,152	114,601,254	183,825,034	184,073,400	184,255,773
Cash proceeds from issue of sharesAUD	19,205,735	65,913,368	70,000,000	0 (nil)	Not separately presented
Cash proceeds from option exercisesAUD	Not separately presented	Not separately presented	2,608,972	0 (nil)	Not separately presented
Capital raising costs paidAUD	-1,323,323	-3,630,623	-3,525,735	-2,062	-2,100
Dividends paid, recommended or declaredAUD	0 (nil)	0 (nil)	0 (nil)	0 (nil)	0 (nil)

Closing ordinary shares are a year-end count; cash proceeds are statement-of-cash-flows amounts, not issued-capital changes. FY2022 closing shares were recovered from the selected FY2022 issued-capital movement table.

No dividends were paid, recommended or declared in any of the five annual reports (FY2021 R000009; FY2022 R000737; FY2023 R001440; FY2024 R002172; FY2025 R003174). Export Finance Australia's A$185m loan approval was a project-finance milestone, not a drawn borrowing in these balance sheets.

Basis and presentation notes (11)

Cash proceeds from issue of shares / FY2024 — 0 (nil): Issuer table marks this line nil for the period.
Cash proceeds from issue of shares / FY2025 — Not separately presented: No share-proceeds line in FY2025 cash-flow statement; finance section reports lease payments and raising costs only.
Cash proceeds from option exercises / FY2021 — Not separately presented: FY2021 financing statement combines securities cash receipts; separate option proceeds were not identified in the selected annual statement.
Cash proceeds from option exercises / FY2022 — Not separately presented: FY2022 financing statement has no separately labelled options-proceeds row.
Cash proceeds from option exercises / FY2024 — 0 (nil): Issuer table marks this line nil for the period.
Cash proceeds from option exercises / FY2025 — Not separately presented: FY2025 financing statement has no options-proceeds row.
Dividends paid, recommended or declared / FY2021 — 0 (nil): Issuer states no dividends paid, recommended or declared for this financial year.
Dividends paid, recommended or declared / FY2022 — 0 (nil): Issuer states no dividends paid, recommended or declared for this financial year.
Dividends paid, recommended or declared / FY2023 — 0 (nil): Issuer states no dividends paid, recommended or declared for this financial year.
Dividends paid, recommended or declared / FY2024 — 0 (nil): Issuer states no dividends paid, recommended or declared for this financial year.
Dividends paid, recommended or declared / FY2025 — 0 (nil): Issuer states no dividends paid, recommended or declared for this financial year.

Source: Renascor Resources Limited annual reports FY2021-FY2025; each value retains its source record in the author evidence file.

FINANCIAL REVIEW / 05

Siviour asset and graphite estimates

Siviour is the central development project. The annual-report Resource and Reserve figures are estimates of in-ground graphite and do not indicate mineral output. The issuer's FY2025 asset review concluded that the development asset was not impaired; assumptions included graphite price and USD/AUD sensitivity.

Reported Siviour total Ore Reserve

Total — tonnes (Proven + Probable)

Mt. Annual-report estimate snapshots; the FY2024 edition reflects a 2023 update, not production.

AI-generated presentation · values from Siviour graphite Resource and Reserve figures carried in each annual report; no missing values plotted as zero.

Siviour graphite Resource and Reserve figures carried in each annual report

Mt or % TGC, as labelled

Metric	FY2021	FY2022	FY2023	FY2024	FY2025
Total — tonnes (Proven + Probable)Mt	51.5	51.5	51.5	61.8	61.8
Total — grade% TGC	7.4	7.4	7.4	7	7
Total — contained graphiteMt contained graphite	3.8	3.8	3.8	4.3	4.3
Total — tonnes (Measured + Indicated + Inferred)Mt	87.4	93.5	93.5	123.6	123.6
Total — grade% TGC	7.5	7.3	7.3	6.9	6.9
Total — contained graphiteMt contained graphite	6.6	6.9	6.9	8.5	8.5

These are geological estimate snapshots reproduced in annual reports, not production, sales or annual change. Some reports incorporate resource or reserve updates announced after the 30 June balance date; the column denotes the annual-report edition.

The FY2024 edition reflects the 2023 updated Reserve and Resource announcements; repeated values in FY2025 do not represent new production.

Source: Renascor Resources Limited annual reports FY2021-FY2025; each value retains its source record in the author evidence file.

Reading the figures

The FY2023 original income statement prints 0.2 cents EPS; FY2024 presents FY2023 comparative EPS of 0.02 cents. The later comparative is used in the EPS table while the discrepancy remains open as to formal correction status.
FY2021 directors' liquidity narrative gives A$17,273,701 deposits at call; the FY2021 audited balance sheet gives A$17,273,801 cash and equivalents including A$100 cash on hand.
Office accommodation and legal fees cease to be separately presented after FY2023. Their occurrence and allocation within FY2024–FY2025 unsplit Other expenses totals are unresolved in the selected evidence; the analytical bridge does not make those individual amounts known.
No full production, sales or unit-cost series is asserted for this developer. Resource and Reserve figures are report-edition snapshots with post-balance-date updates in some editions.

Annual-report source registry

Renascor Resources Limited, 2021 Annual ReportYear ended 2021-06-30; report dated 2021-09-30. Consolidated financial statements and Siviour project disclosures.
Renascor Resources Limited, Annual Report to shareholdersYear ended 2022-06-30; report dated 2022-09-30. Consolidated financial statements and Siviour project disclosures.
Renascor Resources Limited, Annual Report to ShareholdersYear ended 2023-06-30; report dated 2023-09-29. Consolidated financial statements and Siviour project disclosures.
Renascor Resources Limited, Annual Report to shareholdersYear ended 2024-06-30; report dated 2024-09-30. Consolidated financial statements and Siviour project disclosures.
Renascor Resources Limited, Annual Report to shareholdersYear ended 2025-06-30; report dated 2025-09-30. Consolidated financial statements and Siviour project disclosures.

Prepared from the existing annual extraction datasets, supplemented only by selected same-company annual-report tables and saved row interpretations. No new raw-document extraction or web financial research was used for this test.

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AI-led method

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