Announcement Further Cu-Au mineralised area identified at Glava Project – 20 January 2026 (view the announcement) The South Harz Potash Limited story is one that has intrigued me from the first time I came across their story late 2025. Over the decades that I have been in this industry, I have not come across many ASX companies going to the Scandinavian regions. I know that the region is prospective and they have some solid mining operations happening, however, there have been few that have ventured there and had a great deal of success I think. I am always keen to look at what companies are doing and this was the first reaction I had in late 2025. This update is all about what the company has identified and I suspect the drilling part of the story telling will be soon. South Harz Potash Limited - Glava Project: Early-Stage Copper-Gold Exploration in Sweden Samso continues to follow South Harz Potash (ASX: SHP) as it expands beyond its original potash focus into early-stage base and precious metals exploration. This update is relevant as it moves the Glava Project from historical context into modern field validation, with multiple datasets now pointing to scale, continuity, and follow-up drill potential (Figure 1). Figure 1: Project Location Map (source: South Harz Potash Limited) Highlights – Fieldwork Confirms New Copper-Gold Zone and Expands Exploration Footprint Initial fieldwork at the Glava Project in Sweden identified a new potentially mineralised copper-gold zone, located approximately 300 metres from known historic workings. Rock chip sampling returned high-grade results, including a standout assay of 9.88 g/t gold and 2.88% copper, confirming strong localised mineralisation (Figure 2). Figure 2: Rock chip geochemical sample location map (source: South Harz Potash Limited) Geochemical results show a consistent and positive copper–gold correlation across samples, supporting system coherence. Ground magnetic surveying highlighted north–south structural trends, consistent with interpreted controls on mineralisation and extending towards newly applied licence areas (Figure 3). Figure 3: Ground magnetic interpretation over Glava 100 (source: South Harz Potash Limited) Reconnaissance sampling also identified rare earth element (REE) mineralisation, including a result of 9,513 ppm total REEs with a favourable ~30% Nd-Pr ratio, adding optionality. Waste dump sampling around historic pits returned elevated copper, gold, and silver grades, consistent with historical data and reinforcing system strength (Figure 4). Figure 4: Waste dump geochemical sampling map (source: South Harz Potash Limited) The combined datasets support an epithermal-style copper-gold system and justify follow-up work and drill testing (Figure 5). Figure 5: Sodium alteration geochemistry map (source: South Harz Potash Limited) This model summarises how copper-gold mineralisation at Glava may be controlled by north–south structures linked to deeper intrusive activity (Figure 6). It provides a framework to guide follow-up exploration and drill targeting. Figure 6: Conceptual geological model for the Glava epithermal system (source: South Harz Potash Limited) Leadership Commentary South Harz Executive Chairman Mr Len Jubber commented: “The initial program both confirms the historic grades recently reported and strengthens our hypothesis that Glava is potentially an epithermal-style mineral system. The newly identified mineralisation at the southern boundary is evidence of the exploration upside and highlights the value of the recent contiguous exploration licence applications. Additionally, the anomalous rare earths result near the southern boundary of the permit may present significant optionality and justifies follow-up exploration to identify further occurrences. We are encouraged by these early results and therefore progressing with the design of our initial drill program, planned for the June 2026 quarter.” Near-term Milestones to Watch Follow-up geological mapping and expanded rock chip sampling Extension of ground magnetic surveys to refine structural targets Further assessment of REE potential alongside copper-gold targeting Integration of geophysics, geochemistry, and geology into a refined model Maiden drill program planning for the June Quarter 2026 Samso Concluding Comments This is a greenfield project with some interesting rock chips and geophysical interpretation. One of the aspects of Scandinavian projects is the lack of transported materials. There are some glacial tills but generally, what you see is simply rocks unlike Australia where most of the work is done undercover. In terms of what was in the update, the numbers are good but the investors need to know that if you see the minerals in hand specimen and you send it for analysis, you are going to get high numbers. Hence, it is always good to take information in the context that it represent. Time will be needed and patience will be required. Market Implication - The Investor Lens With a market capitalisation of under AUD $4M as of the 3rd February 2026, you will have plenty of runway to decide on taking a position or not. The share price chart is not inspiring and is pretty flat. One would think that is ok as things are just starting to build. A consideration for SHP is that these projects could well be put in to keep things clicking along while the company is looking for something more realistic? I don't think there is any hurry to position in this story for now. The Samso Way – Seek the Research Here at Samso, we pride ourselves on delivering content for investors that is independent and informed by over three decades of experience in the industry. Our content is well-researched and is only created if I see merit in discussing the company's story. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees merit in discussing the company or concept. Investors can explore our three core platforms: Coffee with Samso Samso Insights Samso News There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Never bite off more than you can chew is my parting comment. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer, or solicitation to subscribe for, purchase, or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. Download eBook If you find this article informative and useful, please help me share the information. I try to write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation sees the benefit of what Samso is trying to achieve and has a need to share your journey, please contact me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.

Announcement Drill Results Extend Titanium, REE & Niobium Mineralisation - 27 January 2026 (view the announcement) Enova Mining Limited is a story that has not been featured on the Samso platform and this Samso News article is an attempt to look at what the company is doing in Brazil. The titanium story has really been done by Lion Rock Minerals Limited (ASX: LRM), previously Peak Minerals Limited (ASX: PUA) and Tusker Minerals Limited (ASX: TSK), also previously DY6 Metals Limited (ASX: DY6). I think the titanium story is no longer a marketable narrative on the ASX. The Heavy Mineral price has taken a direction southwards and the main issue for ASX investors, in my opinion, is that it is very hard to quantify what is a good titanium project. LRM tried to make a go of it but I think it was simpler to understand that they have a lot of monazite than to figure out the "in-situ" proportion of the HM sample that is Rutile which is X% titanium...etc. I wanted to take a look at what Enova Mining Limited has to offer in this release, so lets get started. Introduction Enova Mining Limited – CODA East Project, Minas Gerais, Brazil Enova Mining Ltd (ASX: ENV) has reported further results from its auger drilling program at the CODA East Project in Minas Gerais, Brazil (Figure 1). The program continues to define broad zones of near-surface titanium oxide, rare earth elements, and niobium mineralisation hosted within saprolitised kamafugite of the Patos Formation. Results from auger holes CDE-AD-006 to CDE-AD-009 confirm lateral continuity of mineralisation, with all holes ending in mineralisation due to auger depth limitations, leaving the system open at depth. Figure 1: CODA Project tenement map, Minas Gerais, Brazil (source: ENV) Highlights – Broad Near-Surface Multi-Element Mineralisation Confirmed at CODA East Additional auger drilling at CODA East has further confirmed widespread, near-surface titanium, rare earth element, and niobium mineralisation, extending the interpreted mineralised horizon across the CODA region (Figure 2). Figure 2: CODA East auger hole collars with significant TiO₂ and TREO results (source: ENV) Strong titanium oxide mineralisation has been intersected from surface in multiple auger holes, reinforcing the lateral extent of the saprolite-hosted system and demonstrating consistency across drill lines (Figure 3). Figure 3: Schematic cross-section (WSW–ENE) illustrating TiO₂ continuity and mineralisation open at depth (source: ENV) Consistently elevated rare earth and anomalous niobium results were recorded alongside titanium mineralisation, supporting interpretation of a broad, multi-element mineralised horizon rather than isolated zones (Figure 4). Figure 4: Auger drilling at CODA East CDE-AD-0006 (source: Enova Mining Limited) Anomalous to high niobium oxide values were intersected from surface, with multiple holes returning extended Nb₂O₅ intervals, adding another critical-metal component to the CODA East mineralisation profile. All auger holes were terminated in mineralisation due to depth limitations, indicating potential vertical continuity and supporting further drill testing beyond auger depth (Figure 5). Figures 5: Auger drill chip libraries and magnetic susceptibility images showing saprolite-hosted mineralisation (source: Enova Mining Limited) Leadership Commentary CEO / Executive Director Eric Vesel commented: “The auger drilling program continues to demonstrate the scale and consistency of near-surface mineralisation across CODA East, with titanium, rare earth and niobium grades intersected from surface in multiple holes. These results are providing a clearer understanding of the saprolite-hosted system and are helping to prioritise areas for follow-up drilling. Metallurgical test work is progressing to better define processing pathways as the project advances.” Near-term Milestones to Watch Ongoing auger drilling at CODA XN to further expand the mineralised footprint across the CODA tenement package Continued metallurgical characterisation and beneficiation test work for titanium and rare earth elements Integration of auger drilling results into planning for future infill and step-out drilling across CODA East, Central, and XN Progress on transfer of CODA tenements to Enova Mining Ltd Samso Concluding Comments The CODA East results show a broad, near-surface mineralised system with multiple critical metals present. The consistency of mineralisation across auger holes look like it supports geological continuity rather than isolated zones. All holes ending in mineralisation highlight the potential narrative of a system that may be endowed. The key will be future work which will allow the company to understand the depth potential. The presence of titanium, rare earths, and niobium in the same saprolite horizon adds technical interest. It may provide optionality as metallurgical work advances. From an early mineral exploration point of view, this update will add data density and improves confidence in the CODA East geological model. The good news is that it remains an early-stage system, but one that will be more enlightening as it gets defined. Market Implication - The Investor Lens The market capitalisation of Enova Mining Limited is just under AUD $16M and there does not appear to be much activity (Figure 6) which may be reflecting the losing focus on titanium as a story. There was a moment 6 months ago when the mention of a potential titanium discovery would bring some interest, however, I think that moment appear to be missing now. Figures 6: Enova share price chart as of 3rd February 2026 (source: commsec) For me, I think the market is currently doing what it does the best, and that is focussing on the immediate "hotness" of gold, silver (although this seems to be more directed at a limited range of project development), copper and the potential recovery of lithium. It will be hard for the "other" metals to gain traction for investors. Longer term investors will be most likely putting their risk in silver as it builds momentum and as I mentioned previously, it is hard to find a primary silver story as there are not many companies that at dealing with a pure silver deposit. If we are to find a place to put your position risk play, I don't think titanium is the place to be unless you have a compelling case for a mature project that is already developing an economical case. The Samso Way – Seek the Research Here at Samso, we pride ourselves on delivering content for investors that is independent and informed by over three decades of experience in the industry. Our content is well-researched and is only created if I see merit in discussing the company's story. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees merit in discussing the company or concept. Investors can explore our three core platforms: Coffee with Samso Samso Insights Samso News There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Never bite off more than you can chew is my parting comment. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer, or solicitation to subscribe for, purchase, or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. Download eBook If you find this article informative and useful, please help me share the information. I try to write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation sees the benefit of what Samso is trying to achieve and has a need to share your journey, please contact me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.

Announcement New MD Appointed as Semiconductor Strategy Accelerates (Announcement) I am thinking now that our coverage with Adisyn Limited may have been good timing. There is little material change since our publication ion the 13th of January 2026 and it looks like the upgrading of the CEO to the managing Director role makes good sense. It is good to remember that the business the company is in is with the word "Semiconductor". From an investor's point of view, this is a good space to be in with our every need to be a technological future. Adisyn Ltd (ASX: AI1) is an ASX-listed technology company positioned at the intersection of advanced materials and semiconductor innovation. The business is increasingly centred on the development and commercialisation of semiconductor intellectual property, with a strategic focus on graphene-based technologies designed to address performance and efficiency constraints in next-generation semiconductor applications. The Company’s strategy reflects a transition toward a more semiconductor-led platform, aligning technical development, commercial engagement, and leadership with its core intellectual property following the acquisition of specialist semiconductor assets. This structure supports progression from technology development toward commercial relevance, while retaining supporting operations that provide operational breadth and market engagement. The Business of Adisyn Limited: A Semiconductor Business Adisyn operates across two distinct business units: 2D Generation (2DG) – a graphene-based semiconductor technology platform developing a patented low-temperature Atomic Layer Deposition (ALD) process aimed at enabling direct graphene growth on semiconductor wafers. Adisyn Services – a managed IT, cloud, cybersecurity, and AI services business servicing Australian SMEs. Following a comprehensive strategic review completed in December 2025, the Company has identified its semiconductor business as the primary value driver and is assessing options to unlock value from Adisyn Services. Introduction – Leadership Aligned with a Semiconductor-Focused Business Adisyn Limited has announced the appointment of Arye Kohavi as Managing Director, effective immediately, marking a leadership transition aligned with the Company’s strategic evolution into a semiconductor-focused technology business following the acquisition of 2D Generation. Highlights – Managing Director Appointment and Strategic Direction Arye Kohavi, previously a Non-Executive Director of Adisyn and Chief Executive Officer of 2D Generation, has been appointed Managing Director with immediate effect. The appointment follows a strategic review completed in December 2025, which identified Adisyn’s evolution toward being primarily a semiconductor technology business. Former Managing Director Blake Burton transitions to Executive Director, maintaining continuity in strategy execution and corporate development. The leadership change is positioned as a step to accelerate technology development, commercial partnerships, and market engagement in semiconductors. Leadership Commentary Non-Executive Chairman Kevin Crofton stated that the Board views the appointment as aligned with Adisyn’s next phase as a semiconductor-focused technology company. He highlighted Mr Kohavi’s technical and commercial experience and his leadership role at 2D Generation as key reasons for the appointment. The Business of the Company – What the Appointment Signals The appointment of Arye Kohavi signals a clearer operational and commercial focus on Adisyn’s semiconductor technology platform. With the acquisition of 2D Generation described as a transformational milestone, leadership is now directly tied to the semiconductor IP and development roadmap. This transition suggests Adisyn is positioning its executive leadership closer to its core technology assets, reinforcing its stated intention to prioritise semiconductor technology development, commercialisation pathways, and industry engagement. The continued involvement of Blake Burton as Executive Director indicates a focus on execution continuity while the Company advances its semiconductor growth agenda. Near-term Milestones to Watch Integration and advancement of the 2D Generation semiconductor IP portfolio Progress in technology development linked to graphene-based semiconductor applications Development of commercial partnerships and market engagement in the semiconductor sector Samso Concluding Comments This announcement reflects a leadership change aligned with Adisyn’s stated strategic direction rather than a shift in business focus. The Managing Director appointment follows a period of structural change for the Company, particularly after the acquisition of semiconductor intellectual property and the repositioning toward a more semiconductor-led business model. The leadership transition consolidates executive responsibility closer to the Company’s core technology assets. This may assist with internal alignment across technology development, commercial engagement, and strategic execution, but it does not in itself change the underlying technical or commercial risks associated with early-stage semiconductor innovation. Adisyn continues to operate across both advanced semiconductor technology development and supporting technology services. The balance between these activities, and the pace at which the Company progresses its semiconductor platform, will remain dependent on execution, industry engagement, and external market factors. From a Samso perspective, this update provides context on governance and operational structure rather than an indicator of future outcomes. The Company’s business direction is clearer in intent, but progress will ultimately be determined by delivery rather than leadership change alone. The Samso Way – Seek the Research Here at Samso, we pride ourselves on delivering content for investors that is independent and informed by over three decades of experience in the industry. Our content is well-researched and is only created if I see merit in discussing the company's story. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees merit in discussing the company or concept. Investors can explore our three core platforms: Coffee with Samso Samso Insights Samso News There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Never bite off more than you can chew is my parting comment. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. Download eBook If you find this article informative and useful, please help me share the information. I try to write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation sees the benefit of what Samso is trying to achieve and has a need to share your journey, please get in touch with me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.

Announcement Actinogen secures $4.3m of non-dilutive R&D tax funding - 27 January 2026 (view the announcement) Here is a story that Samso continues to follow, Actinogen Medical Limited as they continue to focus on late-stage clinical execution in Alzheimer’s disease and its disciplined approach to funding. This Samso News update is relevant as it strengthens the Company’s balance sheet without shareholder dilution while supporting the final stages of a pivotal clinical program. The ability to extend cash runway while maintaining trial momentum is a key consideration for investors monitoring clinical-stage biotechnology companies. Introducing Actinogen Medical Limited– Advancing Xanamem Through Late-Stage Alzheimer’s Development Actinogen Medical Limited (ASX: ACW) is progressing its lead drug candidate, Xanamem (emestedastat), through the XanaMIA Phase 2b/3 Alzheimer’s disease clinical trial being conducted across Australia and the United States. The Company is developing Xanamem as a once-daily oral therapy targeting cortisol regulation in the brain, to slow disease progression in patients with mild to moderate Alzheimer’s disease. Highlights – Non-Dilutive Funding Strengthens Clinical Delivery Pathway Actinogen Medical Limited secured $4.3 million as a second tranche of non-dilutive funding from Endpoints Capital, backed by the Company’s forecast FY26 Research and Development Tax Incentive (RDTI) rebate. The funding forms part of a previously announced overall facility of up to $13.8 million, originally disclosed on 30 June 2025. Proceeds will support the XanaMIA Phase 2b/3 Alzheimer’s disease trial, which is now fully enrolled with 220 patients across 35 sites in Australia and the United States. Funding will also support the commencement of the open-label extension (OLE) of the XanaMIA trial, expected to begin during the current quarter. Additional funds will be allocated to general working capital, extending Actinogen’s cash runway to mid-2026. Leadership Commentary Actinogen Chief Financial Officer, Mr Will Souter, commented: “The funding secured today as part of our agreement with Endpoints Capital further strengthens our balance sheet as we rapidly approach the interim analysis for our Alzheimer’s phase 2b/3 clinical trial and progress the trial through to final topline results in November, and reaffirms our cash runway out to mid-2026.” Near-term Milestones to Watch Interim analysis of the XanaMIA Phase 2b/3 Alzheimer’s disease trial, expected in late January 2026. Commencement of the XanaMIA open-label extension (OLE) in Q1 2026. Final topline results from the XanaMIA trial, expected in November 2026. Samso Concluding Comments This up is all about Actinogen Medical Limited getting cash in the bank for work rather than new clinical results. Funding is always important for businesses and this is no different for Actinogen as it creates visibility at an important stage of development. The XanaMIA program remains the Company’s core value driver and with enrolment complete, the next phase is data-driven rather than operational. The commencement of the open-label extension provides a longer-term safety and exposure pathway for patients. This may also support future regulatory discussions. For investors, this update reinforces the importance of upcoming trial readouts. As always, progress will ultimately be assessed through clinical outcomes rather than funding announcements alone. Market Implication - The Investor Lens The market journey for Actinogen Medical Limited has been very interesting over the last 12 months. Looking at Figure 1, you can see the up and down of investors interest in the stock. The last six months is what I am more interested in as this looks like a nice momentum being created. Figure 1: The share price chart for Actinogen as of the 10th February 2026. (source: commsec) Samso has been writing on this journey and apart from the last month where there has been a devaluation of the share price, I think the potential of what Actinogen could bring with more positive results out weight the potential negatives. In saying that, we will have to always consider that a good old DYOR is required as there are no such thing as a sure thing when it comes to investments. The Samso Way – Seek the Research Here at Samso, we pride ourselves on delivering content for investors that is independent and informed by over three decades of experience in the industry. Our content is well-researched and is only created if I see merit in discussing the company's story. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees merit in discussing the company or concept. Investors can explore our three core platforms: Coffee with Samso Samso Insights Samso News There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Never bite off more than you can chew is my parting comment. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer, or solicitation to subscribe for, purchase, or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.

Announcement Tobii Dynavox - Distribution Partnership - 27 January 2026 (view the announcement) AGM Presentation 25 November 2025 (view the announcement) Control Bionics Limited looks like it is at the intersection of regulated med-tech, assistive communication, and scalable distribution models. This update focuses on partner-led market access in the United States, leveraging existing reimbursement frameworks rather than direct-to-consumer expansion. Could this be a very interesting time for Control Bionics Limited? Introducing Control Bionics Limited – Expanding NeuroNode Access in the U.S. AAC Market Control Bionics Limited (ASX: CBL) has announced a new agreement with Tobii Dynavox, a global leader in Augmentative and Alternative Communication (AAC), to evaluate a potential U.S. distribution partnership for its NeuroNode® technology. The agreement initiates a six-month pilot program across five north-western U.S. states, positioning NeuroNode alongside Tobii Dynavox’s established communication aids. Highlights – U.S. Distribution Pilot with a Global AAC Leader Control Bionics Limited has entered into a six-month pilot agreement with Tobii Dynavox to evaluate distribution of NeuroNode® in the United States, replacing a previous U.S. partner within Tobii Dynavox’s ecosystem. The pilot will run across five states in the north-western U.S., providing real-world feedback on integration, user adoption, and distributor workflows within an established AAC sales. NeuroNode is positioned as a complementary access method to Tobii Dynavox’s existing AAC solutions, offering eye-gaze users an additional input modality where traditional access methods may be limited. Control Bionics Limited NeuroNode technology (Figure 1) is based on surface electromyography (sEMG), enabling control through minimal muscle activation and supporting users with severe physical impairment. Figure 1: NeuroNode® Product (source: Control Bionics Limited) The pilot aligns with Control Bionics Limited broader strategy to transition NeuroNode sales toward wholesale distribution (Figure 2), supported by a rare U.S. HCPCS reimbursement code that underpins scalable market access. Figure 2: NeuroNode® wholesale (source: Control Bionics Limited) Leadership Commentary Control Bionics CEO, Jeremy Steele, commented: “Tobii Dynavox is a global leader in AAC, and we are pleased to be partnering with them to introduce NeuroNode into selected regions of the U.S. market. We believe this collaboration has the potential to meaningfully enhance how people access and use communication technology. While this is an initial six-month pilot, we see real potential in the partnership, and we look forward to exploring the opportunity for a broader U.S. expansion over time.” Near-term Milestones to Watch Completion of the six-month U.S. pilot program with Tobii Dynavox. Assessment of distributor performance and user adoption outcomes. Potential expansion into a broader U.S. distribution agreement following pilot review. Progress on additional wholesale partnerships aligned with NeuroNode’s reimbursement pathway. Samso Concluding Comments Control Bionics Limited is taking a realistic approach to U.S. expansion by aligning with an established AAC distributor rather than building new infrastructure. This does reflect a focus on efficiency and a pathway to be critically focused on capital discipline. The NeuroNode technology fits within an existing reimbursement and clinical workflow framework. That alignment lowers barriers to adoption and supports repeatable sales models. It is very important to remember that the pilot agreement does not guarantee a long-term partnership, but it provides a structured pathway to assess commercial fit. Outcomes from this process will be more informative than early announcements. Samso will continue to follow how Control Bionics Limited converts technical capability into scalable distribution. The results of this pilot will be a key data point for future assessment. Market Implication - The Investor Lens Control Bionics Limited has a market capitalisation of just over AUD $24M and by the look of Figure 3, the share price chart does not look overly inspiring. Samso has not been following the story hard and it does show that maybe, we need to dig more into this business with more importance. Figure 3: The CBL share price chart as of 9th February 2026. (source: commsec) I do like the business but I will be the first one to say that a lot more research is required. The Samso Way – Seek the Research Here at Samso, we pride ourselves on delivering content for investors that is independent and informed by over three decades of experience in the industry. Our content is well-researched and is only created if I see merit in discussing the company's story. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees merit in discussing the company or concept. Investors can explore our three core platforms: Coffee with Samso Samso Insights Samso News There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Never bite off more than you can chew is my parting comment. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer, or solicitation to subscribe for, purchase, or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. Download eBook If you find this article informative and useful, please help me share the information. I try to write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation sees the benefit of what Samso is trying to achieve and has a need to share your journey, please contact me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.

Announcement CRR Advances Solid State Battery Evaluation Pathway – 2 February 2026 ( view the announcement ) Major Gold Antimony Silver System Emerging at Amoco - 9 February 2026 ( view the announcement ) Solid-State Lithium-Ion Battery Evaluation Program - 17 February 2026 ( view the announcement ) CRR Appoints Leading Solid-State Battery Specialist Advisor - 17 February 2026 ( view announcement ) The month of February has seen an interesting shift in the business pathway for Critical Resources Limited. The company is looking for gold in New Zealand, exploring for lithium in Canada and now looking at transitioning into participating in downstream battery technology validation. The acceptance into US solid-state energy environment provides an execution pathway for evaluating optioned solid-state lithium-ion battery IP. When I first started looking at the Critical Resources Limited story, it was about the gold exploration in New Zealand and then this month of February have me confused. For a small cap company on the ASX, there is a lot happening and I am now thinking if there is just too much happening or is this something bigger than what it seems. Introduction - The New Critical Resources Limited Story Lets slowly break down the news in February in which Critical Resources Limited is creating a series of mis-match news for investors. Personally, the series of ASX releases is creating a confusing narrative in which even the most optimistic follower such as Samso is confused to a point that I am not sure which story is going to headline any potential position for an investor. I know that in the world of "smoke and mirrors" that this industry is famous for, the mixed news is something that needs to be looked at and understood. Sometimes, it is these kinds of early signs that is worth picking up on and ultimately as investors, we need all the help we can get to sustain our losses :-). Acceptance into CEPS – Institutional Integration (2 Feb 2026) Critical Resources Limited (ASX: CRR) has been accepted as an industry member of the U.S. Centre for Solid-State Electric Power Storage (CEPS), an American National Science Foundation (NSF) supported Industry–University Cooperative Research Centre (Figure 1). This follows CRR’s previously announced exclusive option to evaluate several next-generation solid-state lithium-ion battery technologies from the South Dakota School of Mines & Technology (SDM), covering five granted U.S. patents and one pending application. CEPS brings together South Dakota Mines, North-eastern University, Syracuse University and Cornell University, along with industry partners including Honda, Mercedes-Benz and Nissan. Figure 1:“CEPS enables Critical Resources to access a multi-university research network and advanced federal laboratory infrastructure supporting solid-state battery validation, prototyping, and development.” (source: Critical Resources Limited) This positioning embeds Critical Resources Limited into a coordinated multi-institutional research framework designed to transition solid-state technologies from laboratory research into real-world application. Benefits outlined: Access to federal research infrastructure Reduced development cost Coordinated multi-university technical validation Alignment with automotive, defence and grid storage sectors 03051669 Solid-State Battery Evaluation Program Commenced (11 Feb 2026) Critical Resources Limited formally initiated a six-month structured evaluation program with South Dakota School of Mines & Technology under CEPS. Key elements include: Amorphous, sulphur-free solid-state electrolytes (ASE) Dry Supersonic Deposition (DSD) solvent-free cathode manufacturing (Figure 2) Milestone-driven electrolyte refinement and interface validation US$100,000 structured six-month program budget. Technical objectives: Validate non-flammable solid electrolytes Improve lithium-metal interface stability Generate electrochemical datasets for prototype progression Advance solvent-free cathode manufacturing using LFP, LMO and NMC materials. Figure 2: Early successful tests of dry-supersonic-deposition (DSD) of Lithium-Iron-Phosphate (LFP) cathode material onto battery pouch cell aluminium foil substrate. (source: Critical Resources Limited) Two 12-month provisional U.S. patent applications have been filed covering both projects Solid-State Lithium-Ion Battery. Appointment of Dr Alevtina Smirnova (17 Feb 2026) Critical Resources Limited (ASX: CRR) has appointed globally recognised solid-state battery scientist Dr Alevtina (Alla) Smirnova as Technical Advisor to strengthen its solid-state lithium-ion battery evaluation strategy CRR Appoints Advisor. The appointment supports the Company’s transition from early-stage access to patented solid-state battery intellectual property toward structured, laboratory-based validation and early prototype-oriented work programs. This follows CRR’s exclusive option agreement with the South Dakota School of Mines & Technology (SDM) and its participation in the U.S. National Science Foundation-backed Centre for Solid-State Electric Power Storage (CEPS) CRR Appoints Advisor. Key Points from the Announcement Technical Oversight Strengthened: Dr Smirnova brings independent technical leadership to CRR’s solid-state battery evaluation program CRR Appoints Advisor. Inventor and Research Leader: She is the inventor of multiple lithium and sodium solid-state battery technologies and serves as Director of CEPS CRR Appoints Advisor. Structured Validation Phase: Her involvement supports milestone-driven laboratory evaluation, performance benchmarking, and prototype development under internationally recognised research standards CRR Appoints Advisor. Federal-Backed Research Alignment: Dr Smirnova’s background includes NSF-supported programs and U.S. Department of Defence-funded research, reinforcing technical credibility within a U.S.-based innovation ecosystem CRR Appoints Advisor. Strategic Context The Company states that solid-state battery technologies under evaluation target: Improved safety through non-flammable solid electrolytes Higher energy density Enhanced cycle reliability Performance across high-temperature and high-reliability applications such as data centres, defence, and mining CRR Appoints Advisor Dr Smirnova has already assisted in designing evaluation frameworks, benchmarking methodologies, and milestone sequencing to ensure the data generated is robust and comparable to leading global battery programs CRR Appoints Advisor. Immediate Next Steps With evaluation programs underway through CEPS and SDM, CRR’s near-term focus includes: Refining electrolyte formulations Improving lithium-metal interface stability Optimising dry-deposited cathode and electrolyte structures Generating structural, morphological, electrochemical and interface datasets Progressing toward early prototype solid-state cell assemblies CRR Appoints Advisor The Company notes that these activities are designed to build technical foundations and do not imply commercial manufacturing at this stage CRR Appoints Advisor. Halls Peak – Multi-Commodity Discovery Pipeline Advancing (9 Feb 2026) Critical Resources Limited (ASX: CRR) has provided a project-wide update from its Halls Peak Project in the New England Fold Belt, NSW, outlining advances across the Amoco, Gibsons and Mayview prospects (Figure 3). The announcement by Critical Resources Limited confirms the development of a district-scale multi-commodity system comprising precious metals, base metals and critical minerals. Amoco – Petrography Confirms Shallow Orogenic Gold–Antimony–Silver System Petrographic analysis of ten maiden drill samples confirms that Amoco hosts a late-stage shallow-level orogenic gold–antimony–silver lode system, overprinting earlier VHMS mineralisation. Key geological observations include: Quartz-rich hydrothermal breccias and vein infill Strong replacement textures from multiple mineralising fluid pulses Up to ~20% sulphide minerals Quartz–sericite–pyrite alteration assemblages Arsenopyrite and carbonate textures consistent with shallow orogenic systems. Outcrop and float samples returned high-grade results, including: Up to 17.9 g/t Au Up to 0.7% Sb Up to 53.2 g/t Ag Critical Resources Limited notes geological similarities to the nearby Hillgrove Au–Sb system, with reinterpretation of aeromagnetic data outlining NE/SW fault structures interpreted as hydrothermal conduits (Figure 3) Figure 3: Amoco gold-in-soils geochemistry assay results with rock chip samples and major interpreted fault. (source: Critical Resources Limited) structures (black dashed lines) with Gibson Base Metals Project. The petrographic report recommends further drilling to test controls on high-grade mineralisation. Gibsons – Exceptional High-Grade Silver Across Multiple Stacked Lodes The Gibsons Project hosts an Inferred Mineral Resource of 840,000 tonnes @ 3.7% Zn, 1.5% Pb, 0.44% Cu, 30 g/t Ag and 0.1 g/t Au (JORC 2012). Drilling confirms: More than 130 drill samples exceed 100 g/t Ag Ten samples exceed 940 g/t Ag Up to nine mineralised horizons modelled Three lodes consistently above 900 g/t Ag Standout intersections include: 1.15m @ 3,780 g/t Ag 1.6m @ 1,900 g/t Ag 1.24m @ 1,750 g/t Ag 2.0m @ 1,085 g/t Ag Two distinct silver mineralisation styles are identified: Massive sulphide-hosted Zn–Pb–Cu lodes Black shale-hosted silver with tetrahedrite mineralisation. The resource remains open along strike and at depth, with many high-grade intervals sitting outside current resource wireframes. Mayview – High-Grade Antimony Adjacent to Hillgrove The Mayview Antimony Prospect lies immediately adjacent to Larvotto Resources’ Hillgrove Antimony–Gold Operations (Figure 4). Figure 4: Mayview Antimony Prospect with recent surface rock samples. (source: Critical Resources Limited) Rock-chip assays returned: 52.3% Sb 38.3% Sb 15.35% Sb & 2.71 g/t Au 12.45% Sb & 2.18 g/t Au 11.2% Sb & 1.13 g/t Au Land-access negotiations are progressing, with Critical Resources Limited targeting a low-impact soil geochemistry survey across ~270m of historic workings once access is secured. Next Steps Across the Halls Peak Project, the Company intends to: Integrate new petrographic results into the Amoco structural model Refine drilling targets along strike and at depth Advance permitting and land-access agreements Undertake soil geochemistry at Mayview Target down-dip and strike extensions at Gibsons Samso Concluding Comments As I have been eluding in this Samso News, I am not a fan of the recent flow of ASX releases coming out of Critical Resources Limited. I was and am still a big fan of their strategy to seek gold fortunes in New Zealand and with the recent thrust into the lithium space again, I think there is a confusing narrative. I was never a big fan of the lithium market run and I am still not a fan of it. The closing down of the lithium processing plants in Western Australia even with very optimistic market chatter is a clear sign that the lithium business is no longer the highlight. It may the typical wishing for "Hope" that lingers on when investors should be cutting losses, an unfortunate learning all investors need to learn. However, as I mentioned earlier, the people behind the narrative are seasoned proponents of this business and there must be some form of reason for the shift. As I have been n the corporate part of the sector for a good part of 20 years, I am always suspicious when there is a major wind change, or a feeling of a major wind change. I do like the story coming out of New Zealand and I am still optimistic that the company will pursue it but sometimes, it is important to read in between the lines and this may mean that management is not liking the situation in New Zealand. I know it is hard to work there as I have had experience in 2012, so there is probably merit in the rethinking. The other thought is if the New Zealand pathway was a secondary play all along and the main game is the current narrative of work in the US with the CEPS. As I said, one has to look at all angles. In regards to the New Zealand play, it is a pity as I was really looking forward to see if they were going to join the ranks of Santana Minerals Limited (ASX: SMI) and take advantage of the prospective mineral exploration opportunities in New Zealand. Market Implication - The Investor Lens For Critical Resources Limited to have a market cap under AUD $30M presents an intriguing scenario, as the share price chart in figure 5 clearly indicates a lack of enthusiasm. This could simply suggest that there hasn't been any market buzz yet, or it could be one of those slow and steady build-ups. With a relatively low market cap, there might still be potential if the solid-state energy play has substance. Figure 5: The share price of CRR as of 17th February 2026. (source: commsec) As I always say, as retail investors, we just need to keep our ears on the pulse and have our eyes wide open for the movement and the potential events that may come, either good or bad. The Samso Way – Seek the Research Here at Samso, we pride ourselves on delivering content for investors that is independent and informed by over three decades of experience in the industry. Our content is well-researched and is only created if I see merit in discussing the company's story. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees merit in discussing the company or concept. Investors can explore our three core platforms: Coffee with Samso Samso Insights Samso News There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Never bite off more than you can chew is my parting comment. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer, or solicitation to subscribe for, purchase, or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. Download eBook If you find this article informative and useful, please help me share the information. I try to write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation sees the benefit of what Samso is trying to achieve and has a need to share your journey, please contact me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.

Announcement Copper Ore Sorting Delivers Up To 2.1x Grade Uplift at HL – 2 February 2026 ( view the announcement ) As the copper price continue to rise and global narrative are that the demand for copper is going to create a shock reaction to the market. The time lag that is required to find and then establish the supply infrastructure will struggle to meet the demand for copper. As the world gear up for a new energy source to meet the surging demand for clean energy, those companies that are swimming in the "near-production" space is going to get a lot of interest, There will be no regard for the "grade" or "quality" of the project as gold investors are seeing in the gold sector in 2026. This why Samso is showing interest in any stories that are hinting to be in that sphere of influence. As I scoured the ASX for interesting news, Pivotal Metals Limited is one of those that has been on our radar and this announcement appears to be creating noise that sits in the copper production chatter. Pivotal Metals Limited is advancing the 100%-owned Horden Lake polymetallic (Cu-Ni-Au-PGM-Co) Project in Québec, Canada. The project hosts a 2025 Mineral Resource Estimate of 37Mt @ 1.10% CuEq for 407kt CuEq (Measured & Indicated + Inferred), with the majority amenable to open pit mining. The latest ASX announcement dated 2 February 2026 reports large-scale XRT ore sorting test work that demonstrates the ability to materially upgrade plant feed grade while rejecting significant waste prior to grinding and flotation. This update focuses on metallurgical optimisation and development pathway optionality which sits well in my earlier description. Introducing Pivotal Metals Limited (ASX:PVT) - Ore Sorting Test work Demonstrates 2.1x Grade Uplift and Mass Rejection Benefits at Horden Lake Figure 1: Grade uplift vs mass pull chart, showing CuEq grade uplift and recovery trade-offs. (source: Pivotal Metals Limited) Pivotal Metals Limited announced results (Figure 1) from large-scale ore sorting trials conducted at the Saskatchewan Research Council (SRC), utilising industrial-scale TOMRA X-Ray Transmission (XRT) technology combined with heavy liquid separation (HLS). The Horden Lake deposit hosts a 37Mt @ 1.10% CuEq Mineral Resource (In-pit and Out-of-pit combined), containing 407kt CuEq. Highlights – Large-Scale Sorting Confirms Material Development Optionality Table 1: Ore Sorting Summary Results (XRT + HLS). (source Pivotal Metals Limited) Significant Grade Uplift Achieved High-selectivity sorting produced a concentrate grading 2.08% CuEq, representing a 2.1x uplift from the 1.00% CuEq test feed grade. This was achieved by rejecting 67.9% of the mass while recovering 68.9% of the copper. Higher Recovery Operating Scenario Using lower selectivity criteria, copper recovery increased to 86.2%. This scenario delivered a 1.5x grade uplift with 43.6% mass rejection, providing flexibility between recovery and upgrade strategies. Front-End Waste Rejection Ore sorting removes waste at the crushing stage before grinding and flotation. Copper Ore Sorting Delivers Up … Reduced downstream tonnage lowers grinding capacity requirements and flotation circuit size. Capital and Operating Cost Levers The announcement outlines potential benefits including: Reduced plant capital intensity through smaller concentrator sizing. Lower power, reagent and wear component consumption due to reduced throughput. Reduced tailings volumes and smaller tailings management facility footprint. Off-Site Processing Optionality Higher-grade pre-concentrate may justify transport to third-party processing facilities in southern Québec. Copper Ore Sorting Delivers Up … The Company notes that no binding arrangements currently exist for off-site processing. Proven Commercial Technology TOMRA XRT sorters operate at large-scale mining operations globally. Examples cited include lithium operations at Pilgangoora and tungsten pre-concentration circuits. Technical Context – Why Horden Lake is Amenable to Sorting for Pivotal Metals Limited The Horden Lake mineralisation consists of disseminated to massive sulphide textures hosted along the contact between gabbroic intrusions and sedimentary rocks. Drill intersections commonly include internal dilution from lower sulphide zones. The sorting program used continuous half-core composites across representative intervals to simulate mining dilution (Figure 2). Figure 2 : Test protocols using sorting and sorting + gravity pre-concentration. (source: Pivotal Metals Limited) The Phase 2 composite (251kg) was processed through cascade sorting tests to model grade-recovery trade-offs (Figure 4). Figure 3 Screening, XRT sorting and HLS gravity, cumulative pre-concentrate grade vs recovery. (source: Pivotal Metals Limited) Results (Figure 3) show that combined XRT and HLS provides higher grade uplift at lower recoveries, with diminishing benefits at higher recovery thresholds. Figure 4: Spatial location of collected sample (green). (source: Pivotal Metals Limited) Leadership Commentary Managing Director of Pivotal Metals Limited, Ivan Fairhall stated that the large-scale XRT results demonstrate development optionality for Horden Lake and support incorporation of ore sorting into future economic assessments. He noted advantages in capital intensity, plant footprint, tailings management and permitting pathways, with XRT technology already proven at commercial scale globally. Near-Term Milestones to Watch Incorporation of ore sorting into internal project optimisation studies. Copper Ore Sorting Delivers Up … Ongoing economic assessments of alternative development scenarios. Copper Ore Sorting Delivers Up … Additional metallurgical testwork to assess flotation performance of sorted products. Copper Ore Sorting Delivers Up … Continued resource and exploration upside review. Copper Ore Sorting Delivers Up … Samso Concluding Comments The February 2026 announcement by Pivotal Metals Limited presents metallurgical test work results focused on pre-concentration through ore sorting at Horden Lake. The reported outcomes show measurable grade uplift and mass rejection prior to downstream processing. The test program outlines two operating scenarios for Pivotal Metals Limited: one prioritising grade uplift and one prioritising recovery. The data shows that selective sorting can materially increase feed grade while removing significant waste early in the flowsheet. The technical work highlights potential impacts on capital intensity, operating costs and tailings volumes. These factors are directly linked to project design and economic modelling, and are expected to feed into future optimisation studies. No new drilling results were reported. The focus of this release is metallurgical improvement and development pathway flexibility at an existing 37Mt @ 1.10% CuEq resource base in Québec. Market Implication - The Investor Lens Pivotal Metals Limited has a current market valuation of AUD $27.52M (as of 18th February 2026) which is not so bad, in terms of retail investors taking a punt. As I have mentioned in the beginning of this Samso News, the while copper story is very hot and if PVT can make this current narrative work, the market is going to love the current market capitalisation. Figure 5: The share price of PVT as of 18th February 2026. (source: commsec) Looking at the current share price chart of Pivotal Metals Limited (Figure 5), there is interest starting to build in the story and I am sure, anyone who has had some exposure in this story will be starting to get excited. I strongly recommend DYOR and looking at your risk portfolio as timing to position yourself may be close. The Samso Way – Seek the Research Here at Samso, we pride ourselves on delivering content for investors that is independent and informed by over three decades of experience in the industry. Our content is well-researched and is only created if I see merit in discussing the company's story. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees merit in discussing the company or concept. Investors can explore our three core platforms: Coffee with Samso Samso Insights Samso News There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Never bite off more than you can chew is my parting comment. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer, or solicitation to subscribe for, purchase, or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. Download eBook If you find this article informative and useful, please help me share the information. I try to write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation sees the benefit of what Samso is trying to achieve and has a need to share your journey, please contact me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.

Announcement: Emyria Limited's Expanding Impact on Mental Health Treatment Medibank Expands Funding to Emyria's Victorian Clinic - 16 February 2026 ( view announcement ) Emyria Expands Investor Access Into Europe - 12 February 2026 ( view announcement ) Emyria's PTSD Program Delivers Lasting Recovery – 2 February 2026 ( view the announcement ) The business of mental health is becoming increasingly vital. The statistics regarding depression are staggering. It’s likely that you know someone who needs help. From a business perspective, companies can profit significantly by providing mental health diagnoses and treatments. At Samso, we are eager to share stories that help investors understand this landscape. Emyria Limited (ASX: EMD) is developing a data-driven mental health treatment platform through regulated clinical services in Australia. The company combines specialist-led care delivery with real-world data collection. This approach informs treatment protocols, payer engagement, and program scalability. The Importance of Mental Health Treatment Mental health issues affect a significant portion of the population. The latest data on PTSD remission provides long-term visibility into outcomes. This information is crucial for assessing durability, reimbursement potential, and future program expansion. Emyria Limited (ASX: EMD) – What the Company Does Emyria Limited is an Australian healthcare company focused on developing and delivering new treatments for mental health and selected neurological conditions. The company operates through an integrated model with three core components: Emyria Healthcare – Clinical Treatment Delivery Emyria Limited runs specialist-led clinics that provide evidence-based treatments to patients who have not found relief through conventional care. This includes: Treatment programs for Post-Traumatic Stress Disorder (PTSD) Treatment programs for treatment-resistant depression Delivery of therapies under Australia’s regulated access pathways Care delivered under direct medical supervision The focus is on severe or treatment-resistant patients. Introducing Emyria Limited (ASX: EMD) - Durable PTSD Remission Data Demonstrates Sustained Clinical Outcomes at 12+ Months The 2 February 2026 ASX Release provides updated long-term follow-up data from Emyria Limited’s PTSD treatment program. The results reflect 12+ month post-treatment outcomes as of 31 December 2025 and build on previously reported 6-month data. Emyria Limited’s PTSD program focuses on patients with severe and long-standing symptoms who have failed multiple previous treatments. Symptom severity is measured using the internationally recognised PCL-5 scale. The key outcome from this release is durability. Approximately two-thirds of patients who completed treatment and follow-up achieved remission, defined as a PCL-5 score of 32 or below. Around 76% experienced clinically significant improvements. Key Findings from the Data The data indicates: Large symptom reductions by the end of treatment Sustained improvement at 12 months and beyond No return to severe symptom levels Continued improvement in some cases after active treatment ended Figure 1: “Mean PTSD Symptom Scores Over Time (PCL-5)”This chart shows mean PCL-5 scores declining during active treatment and remaining below the clinical threshold (≤32) at 6-month and ≥12-month follow-up. The green shaded region highlights the remission threshold. (source EMD) Importantly, the median time to remission was approximately 28 days from the first treatment. Fifty percent of patients reached remission within that timeframe, with a further ~16% achieving remission during follow-up. Routine safety monitoring during follow-up did not identify severe adverse reactions or safety concerns. Figure 2: “Start vs End of Treatment vs 12-month+ Follow-up (PCL-5)”This figure presents matched data for 10 patients with complete assessments at baseline, end of treatment, and ≥12 months post-treatment, demonstrating sustained sub-clinical symptom levels. The release clarifies that patients who do not respond immediately continue to be followed. The protocol allows for evaluation of treatment indication markers and potential additional cycles or modified approaches. Highlights – 12+ Month PTSD Program Outcomes and Program Expansion Two-thirds of patients in remission at 12+ months: PTSD symptom scores remain below the diagnostic threshold (PCL-5 ≤ 32), indicating sustained remission beyond one year. ~76% achieved clinically significant improvement: Demonstrates meaningful symptom reduction across the treated cohort. Median recovery time of ~28 days: Fifty percent of patients reached remission within 28 days of starting treatment. No severe adverse reactions identified in follow-up monitoring: Ongoing safety oversight has not identified severe concerns in the observed cohort. More than 40 patients completed the PTSD program since inception (Nov 2023): This demonstrates demand and forward pipeline. 100+ patients screened and either in treatment or awaiting commencement (as of 31 December 2025): This indicates ongoing program utilization. 67 additional patients booked for screening in Q1 CY2026. Private health insurer funding in place: Increasing engagement from government-linked payers as long-term outcome data emerges. Emyria Limited contextualised PTSD prevalence, noting that approximately 1 in 11 Australians experience PTSD during their lifetime. Over 17% of transitioned defence force veterans experience PTSD in a 12-month period. Management Commentary Medical Director Dr Jon Laugharne stated that two-thirds remission in a severe, treatment-resistant cohort represents clinically significant recovery. He noted that the durability suggests genuine recovery rather than temporary symptom suppression. He confirmed that longitudinal outcome tracking is now being extended to depression programs. Executive Chair Greg Hutchinson highlighted that durable and often immediate benefits are relevant not only to patients but also to practitioners and payers. He stated that Emyria Limited is building a data-driven platform supporting practitioner and patient acquisition and geographic expansion across a nationwide clinic network. Near-term Milestones to Watch Ongoing 12+ month follow-up data accumulation Extension of longitudinal outcome framework into depression treatment program Conversion of screened patients into active treatment cycles Engagement with private and government-linked payers based on durability data Scaling of clinic network and specialist-led service delivery Samso Concluding Comments This Samso News update focuses on the path forward for Emyria Limited. The addition of the new practice in Victoria and the commencement of a structured European investor engagement program aim to expand international shareholder participation and awareness of Emyria Limited’s integrated, reimbursement-backed mental health clinical model. Emyria Limited (ASX: EMD) key update focuses on long-term durability of the business in the results of their trials. The 12+ month remission data provides a measurable reference point for sustained outcomes in a treatment-resistant cohort. The use of the PCL-5 scale allows consistency in tracking clinical change over time. The reported two-thirds remission rate, alongside a 76% clinically significant improvement rate, is based on real-world clinical data under regulated access pathways. Emyria Limited has clearly stated that the data is observational and not derived from a randomised controlled trial. More than 100 patients have completed screening and are either receiving treatment or awaiting commencement, with additional screenings booked in Q1 CY2026. This suggests program utilisation is ongoing and structured. From a systems perspective, the results highlight the potential of connecting clinical durability with reimbursement potential. Long-term symptom reduction may reduce relapse, re-hospitalisation, and ongoing reliance on alternative treatments. The Company’s model integrates care delivery and real-world data generation as part of its broader mental health treatment platform. Market Implication - The Investor Lens One of the key aspects of the share price chart is the engagement of the market with the news coming out from EMD. EMD has a current market capitalisation of just over AUD $47M, which is reasonable for its stage. As a new advocate of this sector, it’s worth keeping an eye on as it develops the potential of the business. I would love to get the company on a Coffee with Samso soon. This would help us understand the ins and outs of the business and what we should look out for as retail investors. As I always say, DYOR. The Samso Way – Seek the Research At Samso, we pride ourselves on delivering content for investors that is independent and informed by over three decades of experience in the industry. Our content is well-researched and is only created if we see merit in discussing the company's story. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Investors can explore our three core platforms: Coffee with Samso Samso Insights Samso News There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Never bite off more than you can chew is my parting comment. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our* **Support Page **and give us a helping hand in any of the ways listed. This is a new initiative for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018.* Disclaimer The information or opinions provided herein do not constitute investment advice, an offer, or solicitation to subscribe for, purchase, or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position, and particular or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: *How to Add Value to your Share Portfolio* A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. Download eBook If you find this article informative and useful, please help me share the information. I try to write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation sees the benefit of what Samso is trying to achieve and has a need to share your journey, please contact me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.

Announcement: Cyprium Metals' A$41M Capital Raise and Nifty Copper Project Update Capital Raise Presentation - 23 Jan 2026 *(view the announcement) A$41M Capital Raise via Placement & Entitlement Offer - 23 Jan 2026 *(view the announcement) The Cyprium Metals copper story is familiar to us at Samso. We invested in this project before management changes occurred. Unfortunately, we faced significant losses when we decided to exit. However, our fascination with the project has never waned. We have been closely following its developments. This recent update about the A$41M capital raise suggests that the project may be gaining momentum once again. Cyprium Metals – Restarting Nifty Copper Project While Funding the Next Phase of Growth (Western Australia) Cyprium Metals Limited (ASX: CYM) has announced a A$41 million equity capital raising. This funding aims to accelerate regional exploration and production growth initiatives across its Paterson and Murchison copper portfolio. The funds will support the phased restart of the Nifty Copper Complex in Western Australia (Figure 1). The goal is to achieve first cathode production by mid-2026 while also advancing studies for future expansion and satellite feed opportunities. Figure 1: Nifty Copper Complex in Western Australia (source: CYM) Highlights – Funding the Nifty Restart and Expanding the Copper Pipeline A$41 million equity raising completed through a A$36 million institutional placement and a A$5 million fully underwritten entitlement offer, priced at A$0.52 per share. Strong investor support from existing and new institutions, including cornerstone participation from Flat Footed and Tribeca, with Board participation subject to shareholder approval. Use of proceeds focused on growth and execution (Figure 2), including regional exploration at the Paterson Exploration Project, Maroochydore, and Cue Copper-Gold Project, alongside studies and early works for future production growth at Nifty. Figure 2: Regional Asset Map showing Nifty, Maroochydore, and Paterson Exploration* *(source: CYM) Phase 1 restart of copper cathode production remains on track, with first cathode anticipated in mid-2026 from the refurbished SX-EW heap leach operations at Nifty (Fi3). Figure 3: Nifty SX-EW Plant and Heap Leach Infrastructure (source: CYM) Capital structure strengthened post-raising, with pro-forma cash of approximately A$116 million and net cash of A$39.3 million, supporting continued project delivery and optionality. Leadership Commentary Executive Chairman Matt Fifield commented: “As we progress towards first cathode production at Nifty, Cyprium is increasing its focus on growing our business rapidly. This equity capital raising allows us to accelerate workstreams progressing the next phase of the Nifty Copper Complex which involves expansion of SXEW capacity, designing and building a surface mine to access the shallow open-pit oxide ores and the sulphide ores beneath it. We are also developing resources outside of the Nifty Copper Complex that could quickly come into a production plan. In particular, we have recently re-acquired control of the exploration grounds adjacent to Nifty that host multiple advanced targets on significant legacy exploration data. We expect to leverage this data and create meaningful developments for Cyprium as we continue to build Australia’s next great copper company. “Cyprium thanks the continued support of its valued shareholders and is pleased to welcome a number of new Australian and international investors. We are also pleased to be able to offer eligible shareholders the opportunity to participate in the capital raising via the entitlement offer.” Near-term Milestones to Watch Completion of the placement and entitlement offer according to the announced timetable. Continued refurbishment and commissioning activities for the Nifty SX-EW plant. First copper cathode production targeted for mid-2026. Advancement of regional exploration programs at Paterson, Maroochydore, and Cue. Samso Concluding Comments This update reinforces Cyprium’s position as a company transitioning from planning to execution. The equity raising is one of many steps toward advancing production in a controlled manner. However, A$41M may not be sufficient to finalize a realistic operation, as the Nifty project has been a financial burden. The rising copper price is a positive factor that could facilitate future fundraising. From a market perspective, Nifty stands out as a key asset, supported by existing infrastructure, approvals, and a long operational history. The restart strategy focuses on utilizing established facilities, which helps manage capital intensity and development risk. Allocating funds toward regional exploration is crucial for maintaining future optionality. Projects like Maroochydore and the Paterson Exploration Project are within trucking distance of Nifty and align with a hub-and-spoke development model. These assets could provide additional feed options if technical and economic thresholds are met. From an investor's viewpoint, the improved balance sheet following the capital raise is a positive signal. The increased cash position supports ongoing work while alleviating short-term funding pressures. Samso will continue to monitor delivery milestones, with progress toward first cathode production being the key indicator as Cyprium advances toward becoming a copper producer. Market Implication - The Investor Lens CyM now has a market cap of AUD $280M. When I first invested in the company, its market cap was around AUD $70M. It is intriguing to see that we are at a similar stage of project development, yet the company's value has quadrupled. This represents a 300% growth in value, despite the project being at the same or a lower stage. Figure 4: CYM share price chart as of 23rd January 2026. (source: CommSec) My entry into CYM occurred before its downward trajectory into administration. At that time, the copper price (Figure 5) was around USD $3/Ib, rising to USD $5/Ib before dropping to approximately USD $3.10/Ib. Currently, the copper price stands at USD $5.87/Ib, with forecasts suggesting it may rise further. I believe commodities will trend upward in 2026. Figure 5: Copper price chart as of 23rd January 2026. (source: KITCO) CYM presents an interesting proposition. However, if the valuation reflects the current copper price and the project has not solidified its technical processes, there may be challenges ahead. I must clarify that I have not conducted thorough research on its processes, but this has been a concern with the Nifty project, so this line of thinking is not new. The Samso Way – Seek the Research At Samso, we pride ourselves on delivering independent, well-researched content for investors. Our insights are informed by over three decades of industry experience. We focus on cutting through the noise to spotlight what truly matters—genuine stories, grounded insights, and real opportunities. Our mission is straightforward: equip investors with the right knowledge and tools to achieve their financial goals. Investors can explore our three core platforms: Coffee with Samso Samso Insights Samso News There are many paths to success in investing, but successful individuals share a commitment to making informed decisions. Most importantly, investors must understand their own risk-reward tolerance. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Never bite off more than you can chew is my parting comment. Happy Investing, and the only four-letter word you need to know is DYOR. To support the independent nature of our work, please visit our* **Support Page **and lend a hand in any of the ways listed. This initiative is part of Samso's journey since we began in 2018.* Disclaimer The information or opinions provided herein do not constitute investment advice, an offer, or solicitation to subscribe for, purchase, or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position, and particular or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: *How to Add Value to your Share Portfolio* A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. If you find this article informative and useful, please help me share the information. I strive to write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organization sees the benefit of what Samso is trying to achieve and has a need to share your journey, please contact me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.

Announcement FDA 510(k) Clearance for 3DICOM MD Cloud – 13 January 2026 (view the announcement) Samso has had a long association with Singular Health, and it has been a long time since we covered the ins and outs of the Singular Health business. Our interest in the Singular Health business is now based on what appears to be a transition from proof-of-concept into contracted commercial deployment within the U.S. healthcare system. Previous content on Singular Health: 15th January 2021 3D Medical Imaging - Taking Health Care to the next Dimension: Singular Health Group Ltd (ASX: SHG) The Company is addressing a clearly defined inefficiency—medical imaging interoperability—through a regulatory-cleared, enterprise-ready platform with early validation from a large MSO partner. I have not looked into the business much, and I think it may be different from that discussed in 2021. Singular Health Group Ltd (ASX: SHG) is advancing its U.S. healthcare strategy through the commercialisation of its FDA-cleared 3DICOM™ medical imaging interoperability platform. The company’s near-term focus is on the United States, with initial deployments planned across Puerto Rico, Florida, and Texas through a strategic partnership with Provider Network Solutions (PNS). The January 2026 update builds on prior disclosures by highlighting a signed USD $1.3 million commercial contract and the operational readiness of the 3DICOM™ platform for scaled rollout across large managed service organisation (MSO) networks. The Business of the Singular Health Limited: Healthcare Imaging Interoperability Singular Health is a healthcare technology company focused on unlocking the full value of medical imaging through secure, interoperable data sharing. Its core product, 3DICOM™, enables encrypted, PACS-agnostic transfer and aggregation of medical imaging records across healthcare networks (Figure 1). Figure 1: With 3DICOM Solution (source: SHG) The Company’s strategy targets U.S. MSOs, healthcare organisations, and health plans seeking to reduce redundant imaging, costs, and delays in diagnosis. Commercialisation is progressing via enterprise licensing, recurring SaaS revenue, and AI-enabled workflow solutions. Highlights – FDA Clearance Driving U.S. Commercial Readiness FDA 510(k) clearance granted for 3DICOM MD® Cloud, expanding Singular Health’s regulated product portfolio in the United States and building on prior FDA clearance for the desktop 3DICOM MD® software achieved in October 2022. Accelerated FDA review completed in 40 days, materially ahead of the typical ~90-day review timeframe, demonstrating the robustness of the regulatory submission and validation process. Cloud-based, browser-enabled architecture eliminates the need for dedicated hardware or complex desktop installations, lowering adoption barriers for healthcare organisations and enabling faster deployment across distributed clinical networks. Imaging modality coverage expanded to include X-ray and ultrasound, in addition to CT, MRI, and PET, materially broadening clinical pathways and use cases addressable by the platform. Significant U.S. market opportunity identified, with an estimated US$16.5 billion total addressable market (TAM) linked to reducing unnecessary duplicate imaging across major imaging modalities. Leadership Commentary Singular Health Managing Director & CEO, Denning Chong, commented: “This clearance, achieved well ahead of time, represents a major milestone for Singular Health and our U.S. strategy Cloud removes many of the traditional barriers to adoption by eliminating the need for hardware and complex desktop installations, while expanding modality coverage to include X-ray and ultrasound. This positions the Company to scale faster and drive greater impact in reducing duplicate imaging.” About the Project Singular Health’s 3DICOM™ platform addresses a systemic lack of interoperability in medical imaging workflows. Traditional healthcare systems often require repeated scans due to inaccessible prior imaging, resulting in higher costs, patient discomfort, and delayed treatment. The 3DICOM™ solution enables secure aggregation and sharing of imaging records across hospitals, imaging centres, primary care physicians, and specialists (Figure 2). The platform is HIPAA compliant and aligned with SOC2 Type 2 and ISO 27001 standards, supporting enterprise-grade adoption. Figure 2: 3DICOM-enabled workflow and benefits diagram (source: SHG) Near-term Milestones to Watch Commercial deployment of 3DICOM MD® Cloud in the United States, following FDA 510(k) clearance, enabling marketing and clinical use of the cloud-based platform. Adoption of the browser-enabled, cloud architecture by healthcare organisations, removing the need for hardware or complex desktop installations and lowering barriers to enterprise-scale implementation. Expansion of clinical use cases leveraging broader imaging modality support, with X-ray and ultrasound now included alongside CT, MRI, and PET, materially widening addressable workflows. Progression of U.S. commercial strategy aligned to reducing duplicate imaging, targeting a US$16.5B estimated total addressable market supported by improved interoperability and access to imaging records. Samso Concluding Comments From a Samso perspective, this update marks an important stage for Singular Health. The Company is no longer pitching only the size of the problem—it is demonstrating that large healthcare operators are willing to pay for the solution. The U.S. healthcare market is complex and slow-moving, which makes early enterprise validation particularly significant. A successful pilot within PNS could materially de-risk future MSO and health-plan negotiations. The emphasis on interoperability, rather than replacing existing systems, aligns well with how healthcare networks actually adopt technology. This positioning may support faster integration and lower switching resistance. Ultimately, Singular Health is still in an early commercial phase. However, the combination of regulatory-cleared technology, a funded balance sheet, and a signed U.S. contract places the Company firmly on Samso’s watchlist for healthcare-focused growth stories. It will be a good way to get an update on what is now the business and how they are travelling since we last made touch in 2022. Market Implications Singular Health, at the time of writing, has a market capitalisation of AUD $78.49M, which, for me, with a non-mineral resource stock, is not bad. At this junction of the business, I think the upside is still to come. Like all of the "start-up" companies, time and investment are required, and often, the fruits are far from the pains of maintaining the course of the business. The share price chart (Figure 3) is looking like it is establishing a new low or a new high since its bottom in 2024. Figure 3: Singular Health Group share price chart as of 23rd January 2026. (source: CommSec) As I mentioned earlier in the blog, Singular Health was being covered by Samso as far back as 2021, and to see that it is still trying its business is a good reason to look deeper. I have reached out to the management for a Coffee with Samso, and let's see if that eventuates sometime after March 2026. For me, this may be a good one to have on the watch screen and do some DYOR. If they are starting to get the positive responses, sometimes, businesses like these can just go for a run. Canva was founded in 2013, and by 2018, it had a valuation of USD 1B, and in 2021 had achieved a valuation of USD $40B. The ability to interpret imaging information can be a game-changer if the product can get market acceptance, and most importantly, it actually works. Hence, it may be a good idea to keep an eye on Singular Health, or NOT. The Samso Way – Seek the Research Here at Samso, we pride ourselves on delivering content for investors that is independent and informed by over three decades of experience in the industry. Our content is well-researched and is only created if I see merit in discussing the company's story. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees merit in discussing the company or concept. Investors can explore our three core platforms: Coffee with Samso Samso Insights Samso News There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Never bite off more than you can chew is my parting comment. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. Download eBook If you find this article informative and useful, please help me share the information. I try to write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation sees the benefit of what Samso is trying to achieve and has a need to share your journey, please get in touch with me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.

Announcement Multiple Gold & Copper Targets Defined in Lorraine IP Survey – 13 January 2026 (view the announcement) This Samso News has come about from the interesting-looking targets identified from the ASX announcement by Pivotal Metals Limited. Mineral exploration is usually a hit-and-miss exercise, but the compelling part of the situation is about the lure of targets that almost always make explorers feel compelled to drill the target generated, as their conviction has been aroused. I know all about targets being as common as... but when something has the geological backing, it's hard to ignore. As a fellow exploration geologist, when you see maps that show "nice" looking potential discoveries, I always have a sense of alertness and am excited to get a better understanding. As we have been covering Pivotal Metals, this seems like a good one to highlight to the Samso community. Pivotal Metals Limited (ASX: PVT) has reported the results of a recent Induced Polarisation (IP) survey completed at the Lorraine Mine target, part of its 100%-owned Belleterre Projects in Québec, Canada (Figure 1). The survey has defined multiple gold, copper, and nickel targets immediately east of the historic Lorraine Cu-Ni-Au Mine, extending known mineralisation into areas with limited modern exploration. The Lorraine Project sits within the Belleterre–Angliers Greenstone Belt, a highly endowed Archean terrane in the Canadian Shield, located approximately 85 km south of Rouyn-Noranda in Québec. Exploration activity across the broader Belleterre district is accelerating into 2026, supported by multiple concurrent geophysical programs and planned near-term drilling. Figure 1: Belleterre-Angliers Greenstone Belt (BAGB) Projects & Horden Lake Cu-Ni-PGE Project (source: PVT) The Business of Pivotal Metals Limited: Copper–Nickel–Gold Exploration in Québec, Canada Pivotal Metals is a Canadian-focused explorer and developer targeting copper, nickel, platinum group elements (PGE), and gold within established mining districts. The Company’s strategy combines advancement of its Horden Lake Cu-Ni-PGE project with aggressive exploration across the Belleterre Projects, where multiple high-grade deposits, occurrences, and a past-producing mine demonstrate the fertility of the mineral system. The Belleterre portfolio includes the Lorraine Mine, Midrim, Alotta, Lac Croche, Delphi-Patry, Zullo, Blondeau, and LaForce prospects, all located within trucking distance of major mining infrastructure and processing facilities in the Abitibi region (Figure 2). Figure 2: Belleterre Projects location map in relation to nearby current and historic mining and milling operations. (source: PVT) Highlights – Multiple Drill-Ready Cu-Au and Cu-Ni Targets Emerging at Lorraine Multiple high-chargeability IP anomalies have been identified immediately east of the historic Lorraine Cu-Ni-Au Mine, extending known mineralisation into areas with minimal modern exploration. Gold-focused IP anomalies extend for up to 1.8 km east, coincident with historic underground and surface gold-copper mineralisation, including bonanza grades of 28 m @ 45 g/t Au from underground channel sampling (Figure 3). Figure 3: IP interpreted anomalies over UAV magnetic data showing proximity to historic mining and sampling (source: PVT). Discrete high-chargeability targets correlate with historic drilling, trenching, and surface sampling, supporting a laterally extensive gold-bearing structural system. Copper-nickel targets are defined by coincident high chargeability and low resistivity responses, consistent with gabbro-hosted magmatic sulphide mineralisation analogous to the Lorraine deposit (Figure 4). Figure 4: IP survey results showing 70m depth slice resistivity (upper) and chargeability (lower). (source: PVT) Historic surface samples have returned up to 0.63% Cu and 0.93% Ni, reinforcing the potential for additional Cu-Ni sulphide accumulations east of the mine. The historic Lorraine Mine produced approximately 600 kt at 1.4% Cu, 0.6% Ni, and 0.6 g/t Au between 1964 and 1968, demonstrating the fertility of the mineral system. Exploration intensity across the Belleterre district is increasing in 2026, with multiple Cu-Au and Cu-Ni targets prioritised for near-term drill testing and drilling expected to mobilise in late January, subject to final permitting. Leadership Commentary Ivan Fairhall, Pivotal Managing Director, commented: “These IP results at Lorraine validate the systematic approach we are applying across the Belleterre district, highlighting significant upside in areas that have seen very limited modern exploration. Multiple high-quality chargeability anomalies coincident with historic high-grade gold, copper and nickel mineralisation reinforce the scale and fertility of the system. “With drilling expected to mobilise shortly and multiple geophysical programs underway, Pivotal is materially increasing the pace of exploration. Our focus is on rapidly building and testing a pipeline of high-quality Cu-Ni-PGE and gold drill targets. “As we move into 2026, Belleterre is emerging as a district-scale opportunity, which, alongside the advanced Horden Lake deposit, supports our excellent positioning to capitalise on a the rapidly increasing demand and pricing environment for our core commodity suite” About the Project The Lorraine Mine is a past-producing Cu-Ni-Au operation hosted within gabbro intrusions of the Belleterre–Angliers Greenstone Belt. Mineralisation includes both massive sulphide Cu-Ni systems and structurally controlled quartz-vein gold-copper mineralisation. The December 2025 IP survey comprised 18 north-south lines totalling 25.6 km, targeting extensions of known mineralisation east of the historic mine. Results identified multiple gold and copper-nickel anomalies associated with favourable geology, magnetic features, and historic mineral occurrences, supporting a strong exploration case for follow-up drilling (Figure 5). Figure 5: Belleterre Project mineralised occurrences over regional magnetics. (source: PVT) Near-term Milestones to Watch Mobilisation of diamond drilling at Lorraine and Midrim, subject to final permitting (Figure 6). Figure 6: Belt-scale conductive anomalies and priority envelope. (source: PVT) Completion and interpretation of the large-scale FLTEM survey over the Alotta–Midrim–Lac Croche trend (Figure 7). Figure 7: Allotta-Midrim-LacCroche large-scale FLTEM survey (yellow lines), with historical drill collars at the three main deposit areas as shown. (source: PVT) Additional surface geophysical surveys are planned at Blondeau and Roy. Ongoing optimisation activities at the Horden Lake project. Samso Concluding Comments From Samso’s perspective, the strength of this announcement lies in its coherence rather than any single data point. The IP survey results integrate cleanly with historic mining, surface sampling, and geological understanding, suggesting a system that remains open and under-explored. The Lorraine area stands out because it hosts both bonanza-grade gold and meaningful copper-nickel sulphide mineralisation, a combination that is not common and can materially enhance project economics if discoveries are made. The historic grades and production provide important context rather than speculative optimism. At a broader scale, the Belleterre district shows multiple high-grade deposits aligned along structural and magmatic trends, reinforcing the idea of a large mineralising event rather than isolated occurrences. This is where district-scale thinking becomes important for investors assessing long-term upside. As exploration ramps up in 2026, Pivotal Metals is positioning itself as an active participant in one of Canada’s most productive greenstone belts. For investors tracking copper, nickel, PGE, and gold optionality in established jurisdictions, this is a story that warrants close attention and disciplined due diligence. Market Implications The market seems to be showing signs of positive activity, which is a good thing for existing shareholders. There is no guarantee that the targets are going to be mineralised or become an economical deposit, but it does give a good narrative to the story in general. All investors and mineral explorers will tell you that all targets are compelling, but some are more marketable than others. Figure 8: PVT share price chart as of 20th January 2026. (source: CommSec) By the looks of the share price chart in Figure 8, the excitement in the share price has been the recent rise and the release of these targets. A market cap of just under AUD $27M is still relatively reasonable in the scheme of things. PVT is going to the drilling stage soon, and that will be where the test of the project will see the light of day. They had a decent raise of AUD $5.4M recently, and that should see them to the drilling stage. How many holes they can achieve will be the big question, as I am sure the cost of mineral exploration in that part of Canada will not come economy level. There is no rush into this stock, in my opinion, so plenty of time to do some good old DYOR. The Samso Way – Seek the Research Here at Samso, we pride ourselves on delivering content for investors that is independent and informed by over three decades of experience in the industry. Our content is well-researched and is only created if I see merit in discussing the company's story. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees merit in discussing the company or concept. Investors can explore our three core platforms: Coffee with Samso Samso Insights Samso News There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Never bite off more than you can chew is my parting comment. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. Download eBook If you find this article informative and useful, please help me share the information. I try to write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation sees the benefit of what Samso is trying to achieve and has a need to share your journey, please get in touch with me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.

Announcement Successful Clinical Results Achieved under Special Access – 13 January 2026 (view the announcement) This Samso News on NeuroScientific Biopharmaceuticals Limited is about creating awareness and reminding the community of a story that is making some developments. As I have mentioned previously, the aim for Samso is to start widening our coverage and showcasing other investing opportunities on the ASX. For the NeuroScientific release, as I read the release, I am reminded of the real cases needed for solutions in the medical field. The rate of success and the cost of investments are typically not insignificant, and hence, it is genuinely interesting to watch the progress of new innovations. I am drawn to this recent NeuroScientific update not because I believe that it is now an investable story in the ASX but more about wanting to know more about what they are up to now and the potential in the coming future. Stories like how the narrative is now about transitioning from early-stage development into real-world clinical validation, for me, is where you can start feeling the lesser amount of developmental risk. The journey for Neuroscientific, I feel, is now at a tangible inflection point, where clinical efficacy, regulatory engagement, and manufacturing readiness begin to converge around a scalable therapeutic platform. NeuroScientific Biopharmaceuticals Limited (ASX: NSB) is an Australian biotechnology company focused on immune-mediated inflammatory diseases. On 13 January 2026, the Company announced successful clinical outcomes from patients treated with its patented StemSmart™ mesenchymal stem cell (MSC) therapy under the Australian Therapeutic Goods Administration (TGA) Special Access Scheme (SAS) for fistulising Crohn’s disease. What are Mesenchymal stem cells (MSCs) (Wikipedia) Mesenchymal stem cells (MSCs), also known as mesenchymal stromal cells or medicinal signaling cells, are multipotent stromal cells that can differentiate into a variety of cell types, including osteoblasts (bone cells), chondrocytes (cartilage cells), myocytes (muscle cells), and adipocytes (fat cells, which give rise to marrow adipose tissue).[1][2][3][4] The primary function of MSCs is to respond to injury and infection by secreting and recruiting a range of biological factors, as well as modulating inflammatory processes to facilitate tissue repair and regeneration. Extensive research interest has led to more than 80,000 peer-reviewed papers on MSCs.[5] The treatment program was conducted in Australia under compassionate-use conditions, targeting patients with severe disease and limited effective treatment alternatives. The reported outcomes provide real-world clinical data that directly inform NSB’s planned later-phase clinical development pathway. The Business of NeuroScientific Biopharmaceuticals Limited: Platform Cell Therapy for Immune-Mediated Inflammatory Diseases NeuroScientific Biopharmaceuticals is developing patented mesenchymal stem cell technologies targeting chronic inflammatory and immune-mediated conditions with high unmet medical need. The Company’s lead asset, StemSmart™, is a differentiated MSC platform produced through a patented manufacturing process designed to enhance therapeutic activity, consistency, and clinical response (Figure 1). NSB’s strategy centres on advancing StemSmart™ through regulated clinical pathways, initially in Crohn’s disease, while maintaining optionality across additional inflammatory indications, including transplant immune tolerance, lung inflammatory disease, and graft-versus-host disease. Figure 1: StemSmart™ Technology for Refractory Crohn’s disease (source: NSB). Highlights – Clinical Validation Achieved Under Special Access Program Three of four patients treated in Cohort 1 of the Special Access Program for fistulising Crohn’s disease achieved a successful Clinical Response following StemSmart™ treatment. The fourth patient demonstrated a partial clinical response, with improvement observed and further assessments ongoing. Clinical Response was defined as either closure of at least 50% of fistula openings or a reduction in fistula discharge of at least 50%, as assessed by the treating physician or investigator. These outcomes provide real-world validation of the StemSmart™ MSC platform in patients with severe disease and limited treatment options. Data generated from the Special Access Program will directly inform the design of later-phase clinical trials, planned to commence in the second half of 2026. Phase 2 start-up activities are already underway, including commercial manufacturing preparation, clinical trial development, and regulatory planning. The results support NSB’s positioning within the global Crohn’s disease market, forecast to exceed US$13 billion by 2026. Leadership Commentary NSB Chief Executive Officer, Mr Nathan Smith, commented: “These treatment results provide critical validation of the StemSmart™ MSC platform in presenting a potential therapeutic solution to patients with debilitating fistulising Crohn’s disease that have limited effective treatment options. This data, along with our previous clinical trial results in refractory Crohn’s disease, provides a strong foundation for our commercialisation plans for StemSmart™ moving forward. Together, these early outcomes allow us to advance the development of a novel therapeutic in a responsible, informed, and patient-centred fashion as it supports and accelerates our progress toward clinical trial work later this year.” NSB Chief Medical Officer, Dr Cathy Cole, commented: “The response rate to StemSmart™ MSC treatment seen in these patients in a realworld setting is exceptional, given the serious, debilitating and long-standing adverse nature of their condition. If you consider that for these fistula patients treated with StemSmart™, About the Project The Special Access Program was conducted under the TGA’s SAS Category B pathway, which allows access to unapproved therapies for patients with serious or life-threatening conditions where conventional treatments have failed or are unsuitable. StemSmart™ is derived from adult human donor bone marrow-sourced MSCs and produced using a patented manufacturing process. The program evaluated patients with non-healing fistulas, with treatment administered weekly over four weeks and clinical assessment conducted at 8–10 weeks post-treatment. Near-term Milestones to Watch (Figure 2) Ongoing clinical assessment of the partial-response patient from Cohort 1. Integration of Special Access Program data into the final Phase 2 trial design. Progression of manufacturing technology transfer and clinical trial supply readiness. Commencement of later-phase clinical trials in fistulising and refractory Crohn’s disease in 2H 2026. Figure 2: Key Milestones (source: NSB). Samso Concluding Comments StemSmart™ is beginning to demonstrate what platform cell therapy can look like when clinical data, regulatory engagement, and manufacturing readiness move in parallel. This announcement does not change the inherent risks of biotechnology development, but it materially improves the quality of the discussion around probability rather than possibility. Fistulising Crohn’s disease is one of the most challenging manifestations of inflammatory bowel disease, and success here carries implications beyond a single indication. The outcomes reinforce StemSmart™’s positioning as a therapy suited to high-inflammation conditions where conventional treatments struggle. Fistulizing Crohn's Disease - What is Fistulizing Crohn’s Disease? (Crohn's & Colitis) Fistulizing Crohn’s disease may present in patients with Crohn’s disease over their lifetime and can occur anywhere along the GI tract, affecting portions such as the small intestine, colon, rectum, or the anus. It is common for people with fistulas to feel stress, anxiety, and other mental and emotional concerns about body image and intimacy. If you are experiencing these concerns, speak with your healthcare team to discuss options for connecting with a mental health professional who can provide helpful coping strategies. The Foundation’s support programs can also offer connection to others who may have similar experiences. Importantly, the Company has framed these results within a disciplined development pathway. The focus on informing Phase 2 trial design, rather than overstating commercial timelines, reflects a grounded approach to value creation. For investors, this is a moment to reassess NeuroScientific through the lens of platform validation rather than pipeline aspiration. As always, it remains a Definite #SamsoDYOR, but the clinical signal is now clearly on the table. Market implications NSB is currently valued at just under AUD$50M, and for a company that sits in the "biotech" sector, that is reasonably low. I have learnt that biotech companies that have a market capitalisation of less than AUD $100M to $150M is typically at a stage that is still carrying, what I call, developmental or concept risk. In some way, if I consider where the company is now, it is at a real-world testing stage, and if patients show positive reactions, then that is proof of concept. The share price chart also in some way is reflecting this stage (Figure 3). Figure 3: The share price chart for NSB as of the 20th January 2026. (source: CommSec). The ASX release in the blog may be a good start to understanding where NSB could become or is becoming with what appears to the untrained person a positive start to showing the market the validity of its narrative. We all know that in the world of investing, there are no sure things, and in many cases, positive results can turn for the worse. However, for now, I do think that NSB is worthy of a place in my watchlist. The Samso Way – Seek the Research Here at Samso, we pride ourselves on delivering content for investors that is independent and informed by over three decades of experience in the industry. Our content is well-researched and is only created if I see merit in discussing the company's story. Our mission is simple: cut through the noise and spotlight what matters—genuine stories, grounded insights, and real opportunity. Our content is well-researched and is only created if the team sees merit in discussing the company or concept. Investors can explore our three core platforms: Coffee with Samso Samso Insights Samso News There may be numerous paths to success in investing, but the common thread among successful individuals is that they remain committed to making informed decisions. Equip yourself with the right knowledge and tools, and you will be well on your way to achieving your financial goals. Most importantly, investors need to be absolutely diligent in understanding their own risk-reward tolerance and capabilities. Never bite off more than you can chew. As they say, Rome wasn’t built in a day, and the Great Wall stood because it took centuries to complete. The Samso Philosophy: Stay curious. Stay sharp. And remember—digging deeper always uncovers the real value. In Life, there is no such thing as a Free Lunch. Never bite off more than you can chew is my parting comment. Happy Investing, and the only four-letter word you need to know is DYOR. To support our independent nature of our work, please head over to our Support Page and give us a helping hand in any of the ways listed. This is a new initiate for the Samso Platform, and it was always the concept of Samso when we started this journey in 2018. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. Download eBook If you find this article informative and useful, please help me share the information. I try to write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation sees the benefit of what Samso is trying to achieve and has a need to share your journey, please get in touch with me at noel.ong@samso.com.au. About Samso Samso is a trusted platform that equips dedicated investors with up-to-date industry knowledge and insights from top CEOs and thought leaders. By staying informed on business advancements and market trends, investors can enhance their financial decisions through a combination of expert guidance and their own research.