Announcement PDF ASX:FBR OTC:FBRKF FBR Limited Annual Report 2026 102 17 Financial Report Contents FBR Limited (ASX:FBR) ABN: 58 090 000 276 +61 8 9380 0240 | fbr.com.au investor@fbr.com.au media@fbr.com.au Registered Office 88 Sultana Road West High Wycombe WA 6057 Computershare Investor Services Pty Ltd Level 17 221 St Georges Terrace Perth WA 6000 1300 850 505 PICTURE: Mantis™ performing a 2F horizontal fillet weld during its testingandcommissioningphase. Hadrian® Mantis™ 10 12 Firehawk™ 14 Corporate Governance 16 Additional ASX Information Chair's Review 02 CEO's Review 04 FBR Board Operations Update 07 08 FBR LIMITED 2026 ANNUAL REPORT 1 About FBR specializes in designing, prototyping, and deploying stabilized long-boom robotics to help industries tackle complex challenges and achieve sustainable growth. FBR is committed to providing industry-leading automation solutions, from ideation to commercialization. We build autonomous robots that operate in uncontrolledenvironments. Our breakthrough Dynamic Stabilisation Technology™, or DST® , allows our machines to perform complex tasks with precision and reliability, no matter the environment. We empower businesses to optimize processes, reduce costs, and scale efficiently, redefining the future of industrial automationtechnology. DST® is a system that measures dynamicinterferenceandmovement in real-time, counteracting it to maintain stability and deliver unprecedented precision in variable conditions. It is the technology that allows construction robot Hadrian® to place product with such precision through a 32-metre boom, enables automated welding robot Mantis™ to weld with exceptional stability, even at full 8-metre reach, and will facilitaterefractoryrobotFirehawk™ in autonomouslyreliningsteelladles faster,safer,andmoreconsistently. Our aim is to revolutionize industries through cutting-edge automation, redefining efficiency. FBR LIMITED 2026 ANNUAL REPORT 2 Chair's Review DearShareholders, The 2026 financial year has been a period of consolidation, operational discipline, and commercial realignment. Following the extensive corporate and operational restructuring initiated in late FY25, the Board and executive leadership team have maintained a firm focus on lowering cash burn, establishing disciplined commercial pathways, and monetizing our core robotic automation platforms. We also executed an Engineering Service Agreement with Samsung Heavy Industries for a shipbuilding automation project, which is the first time FBR has embarked on contract R&D work. Phase 1 of the Engineering Service Agreement with Samsung Heavy Industries is complete, with further R&D work expectedtofollow. Managing the Company’s cost base and working capital has been a central priority for the Board. The operational rationalisation implemented over the past 18 months has substantially reduced overhead, allowing FBR to maintain a lean, highly focused engineering and operations team at our HighWycombefacility. Throughout the year, FBR continued its transition from research and development toward commercially sustainable equipment and service delivery. The Mantis™ welding robot is progressing well, with first welding trials commenced. FBR has advanced commercial discussions across heavy engineering, shipbuilding, and structural fabrication sectors whereacuteshortagesofskilledwelderspersist. The system’s 8-metre stabilised reach and adaptive automated welding capability position it well to address high-volume fabrication challenges. Following the execution of our Phase 1 Engineering Service Agreement with Samsung Heavy Industries, FBR has continued to progress development and validation of robotic modules tailored to large-scale shipyard applications.Contractengineeringofthisnature providesvaluableexternalvalidationofourcore Dynamic Stabilisation Technology™ (DST® ) while generating non-dilutive commercial revenue. Our commercial model for Hadrian® continues toencompassbothWallasaService® (WaaS® ) contracting and direct unit sales. Having demonstrated multi-home and multi-storey builds across Western Australia and completed international demonstration activities in the United States, the Company remains focused on converting commercial interest into viable machineordersandselectiveWaaS® projects. To improve the marketability and capital structure of the Company, shareholders On behalf of the Board, I present to you FBR’s Annual Report for the 2026 financial year. FBR LIMITED 2026 ANNUAL REPORT 3 ShannonRobinson Non-ExecutiveChair approvedacapitalconsolidationattheGeneralMeeting held in July 2026. This initiative reduced the total number of shares on issue to a more conventional capital base, establishing a solid corporate platform as we pursue commercialization and institutional support. Operating cash flows have been supplemented by ongoing access to the Australian Government’s R&D Tax Incentive program and established financing facilities. FBR maintains a streamlined Board aligned with the current operational scale of the business. Non- ExecutiveDirectorshaveagreedtobepaiddirectorfees in shares or accrue fees until further notice, reflecting our collective commitment to financial restraint. I extend my appreciation to our Chief Executive Officer, Mark Pivac, and our management and technical teams fortheirdedicationandresiliencethroughachallenging period of corporate transition. Their technical expertise and practical execution remain vital to the Company’s progress. Finally, I thank our shareholders for their ongoing support and patience. While the path to industrial commercialization is demanding, FBR possesses a globally protected intellectual property portfolio, validated machines, and genuine commercial applications. We remain committed to realizing the commercialvalueoftheseassetsintheyearahead. On behalf of the Board of Directors of FBR Limited, I thankyouforyourcontinuedsupportofourCompany. FBR LIMITED 2026 ANNUAL REPORT 4 Chief Executive Officer's Review DearShareholders, While the prior financial year was defined by the completion of our international demonstration in theUnitedStates,FY26hasfocusedonturningour proventechnologyintocommerciallyviable,cash- generating products across multiple industrial verticals. By focusing on leveraging our core Dynamic Stabilisation Technology™ (DST® ) across industrial welding, shipbuilding, and construction, we have established a diversified technology businesswithseveralactivecommercialpipelines. Following the introduction of the Mantis™ robotic welding system in July 2025, our engineering efforts over FY26 have prioritized transitioning thisplatformfrominitialdesignandsimulationinto physical fabrication, integration, and commercial demonstration. Mantis™ leverages our core DST® algorithms to deliver an 8-metre stabilised reach. Designed predominantly with off-the-shelf industrial componentryandstandardstructuralfabrications, the platform avoids the long procurement cycles andhighinitialtoolingcostshistoricallyassociated withprototypemobilemachinery. We successfully integrated the dual Fronius TPS500isetupanddevelopedthehigh-deposition dual-wire configuration. Toolpath generation has been streamlined using our partnership integration with Verbotics, allowing automated seam extraction and path planning directly from imported 3D CAD models without tedious manual teach-pendantprogramming. During the year, we advanced technical demonstrations with structural fabricators, heavy equipment manufacturers, and maritime operators. Commissioning of the first commercial unit at our High Wycombe facility is on track, with delivery of the first unit scheduled for the 2026 calendaryear. Our collaboration with Samsung Heavy Industries underthePhase1EngineeringServiceAgreement has represented FBR’sfirstformal engagement in contractR&Dservices. Building on the initial feasibility studies completed inearly2025,ourteamprogressedtheengineering development, simulation, and hardware assembly of a core stabilisation and robotic manipulation moduleforshipyardfabrication. Physical validation testing of the module under simulatedshipyardconditionsprogressedthrough during the year. Delivering against these technical milestones demonstrates that FBR’s long-boom stabilisation technology can solve complex manufacturing constraints in heavy industry beyondmasonry. The 10-year exclusive dealing arrangement governing Phase 1 materials establishes a defined pathway toward subsequent operational phases and joint commercialisation models with SHI as they seek to automate large-block vessel construction. Following the completion of the 10-home Florida Demonstration Program with CRH Ventures in late 2024 and the subsequent conclusion of the option period without exercise, FBR strategically diversified its go-to-market model for Hadrian® . Rather than relying exclusively on Wall as a Service® (WaaS® ) fleet operations, we opened theorderbooktodirectmachinesalesforqualified contractorsandbuilders. Our Australian-specification commercial unit (H03)concludeditsdemonstrationcommitments in Florida, which included commercial wall builds for national builders like Christopher Alan Homes and PulteGroup. Meanwhile, assembly and commissioning work on H04 continued at High Wycombe, incorporating our refined shuttle block FinancialYear2026hasbeen apivotalperiodofoperational recalibrationforFBR. FBR LIMITED 2026 ANNUAL REPORT 5 MarkPivac ChiefExecutiveOfficer &ExecutiveDirector deliverysystem, upgraded controls, and simplified tablet-based Human-Machine Interface (HMI). Upon completion of commissioning, H04 set a newrecordforsquaremetresofwallperhourwith thelargeformatWienerbergerPorothermblocks. A core focus of our long-term operating model is ensuring that FBR does not carry the capital expenditureoroverheadofglobalserialequipment manufacturing. FBR’s competitive barrier remains anchored by our patent estate, which encompasses 42 patent families and over 400 individual rights globally covering DST® , the Hadrian® architecture, Fastbrick Wall System® , Mantis™, Firehawk™ and adjacent robotics. We continue to prosecute key filings across Australia, the United States, Europe,andtheGCC. FBR has emerged from a comprehensive restructuring with a lower cost base, clearer commercial priorities, and multiple active product lines. We have demonstrated that our core Dynamic Stabilisation Technology™ is an adaptable automation platform capable of addressing multi-billion-dollar bottlenecks across construction,heavyfabrication,andshipbuilding.I thankourteamfortheirrelentlessproblem-solving anddedicationtosafetyontheworkshopfloor,and I look forward to delivering on our manufacturing anddeliverymilestonesinFY27. FBR LIMITED 2026 ANNUAL REPORT 6 FBR LIMITED 2026 ANNUAL REPORT 6 FBR LIMITED 2026 ANNUAL REPORT 7 FBR Board LindsayPartridgeisahighlyexperienced and respected leader in the construction industry, having served a 25-year tenure asManagingDirectorandChiefExecutive Officer of Brickworks Limited, Australia's largestbuildingmaterialssupplier. Lindsay has a strong track record of generating long-term shareholder value andnavigatingcomplexmarketcyclesand Glenn Cooper Non-Executive Director Glenn Cooper has an engineering, sales and business operations background with over 25 years' experience as a senior executive in the construction, manufacturing and quarrying industries working with and for global OEMs such as Liebherr, Sandvik and Hitachi. He is experiencedacrossallbusinessfunctions in the construction equipment industry including sales, commercialisation and operationalmanagement. Lindsay Partridge AM Non-Executive Director Glenn has held previous and current directorships and senior executive roles at regional and global levels for major globalOEMsandhasrecentlybeengroup CEO ofASX listed company Bisalloy Steel GroupLimited(ASX:BIS). Glenn is a graduate member of the AustralianInstituteofCompanyDirectors (AICD) and holds a diploma in Mechanical Engineering. oversawthetransformationofBrickworks from a domestic manufacturer into a diversifiedmultinationalorganisation. Lindsay holds a Bachelor of Engineering (CeramicEngineering)fromtheUniversity of New South Wales and has completed theStanfordExecutiveProgram. Mark Pivac is the primary inventor of FBR’s automated bricklaying technology. Mark has been an executive director of FBR for 10 years. He is an aeronautical and mechanical engineer with over 35 years’ experience working on the development and commercialisation of high-technology equipment ranging from aircraft and production machinery toheavyoff-roadequipment. Mark Pivac Executive Director & Chief Executive Officer Mark has also worked extensively with design, commissioning and fault finding on servo controlled motion systems achieving very high dynamic performance. Prior to being appointed Chief Executive Officer of FBR, Mark was the Chief Technical Officer. Prior to FBR, Mark ran a consulting engineering, design and manufacturingbusiness. Shannon Robinson (LLB, B Comm (Accounting) GAICD, FGAI) is an experienced company director and former corporate lawyer with 20 years’ corporate experience. Shannon is a graduate member of the Australian InstituteofCompanyDirectors(AICD)and a fellow of the Governance Institute of Australia(GIA). Shannon Robinson Non-Executive Chair Shannon is currently a Non-Executive Chair ofYojee Limited (ASX:YOJ), FortifAI Limited (ASX:FTI), and Pathkey.AI Limited (ASX:PKY). FBR LIMITED 2026 ANNUAL REPORT 8 Operations Update Hadrian® InOctober2025,FBRsuccessfullycompletedFATforits next-generation Hadrian® unit H04. The unit achieved aneffectivelayrateexceeding285blocksperhour and set a new delivery speed record of approximately 36 square metres of wall per hour using large-format WienerbergerPorothermblocks. Hadrian® unitH04completedroadregistrationactivities inWesternAustraliaandthesawmodulewasdeveloped to enable fully autonomous block cutting, enabling greaterdesignfreedomandstructuralexecutiononsite. Hadrian® unit H03 returned to Western Australia following the conclusion of its US demonstration program to undergo recommissioning and upgrades aheadofcommercialWallasaService® builds. FBR executed a non-binding Memorandum of Understanding (MOU) with NSW-based builder Fraser Lyne Constructions contemplating the sale of a Hadrian® unitvaluedatA$7.8million(witha10%deposit upondefinitiveagreement).TheCompanyalsoengaged indiscussionswithdomesticbuildersacrossNewSouth Wales, Victoria, and Queensland, as well as international partiesintheUS,UK,UAE,andIndonesia. FBRprogressedthecommercialisationofitsproprietary robotic automation technologies while executing a disciplined cost rationalisation program to reduce ongoingfundingrequirements. FBR implemented structural operational efficiencies to compress its annual operating burn rate from approximately A$35 million toward an initial A$10 million target profile. FBR retained its core technical and engineering team to focus on the continued development and commercialisation of its Hadrian® robotic construction platforms, the assembly of its new Mantis™ industrial welding robot, the launch of the Firehawk™ refractory relining robot concept, and advanced contract R&D projects with international industrialpartners. Post-restructure, FBR has transitioned from a high- cost operation focused on a single product to a lean, diversified technology and IP Company demonstrating the applicability of DST® as an enabling technology acrossanumberofverticals. FBR LIMITED 2026 ANNUAL REPORT 9 Launched in July 2025 as a concept, Mantis™ became the first official DST® -powered product outside of Hadrian® . Mantis™ was launched following the corporaterestructureandsignalledthenewdirectionof FBR. In January 2026, FBR secured its first binding conditional purchase order for Mantis™ from US-based State Machinery & Equipment Sales for A$990,000 for deployment into barge manufacturing along the MississippiRivercorridor. Assembly of the first Mantis™ unit is complete, and commissioning is underway. Delivery of the first unit is expected in the second half of calendar year 2026 followingcompletionofFactoryAcceptanceTesting. Subsequent to the period, FBR appointed Industrial Robotics LLC (an entity established by the founder of State Machinery) as its non-exclusive distributor for Mantis™ across the United States and Canada under a five-year agreement. The agreement also grants Industrial Robotics distribution rights for genuine spare parts and wear parts across the 48 contiguous United States for the Mantis™, Hadrian® , and Firehawk™ productlines. Mantis™ Firehawk™ FBR launched its Hadrian Homes concept via an applicationtotheWAGovernment’sHousingInnovation Fund to support the launch of the vertically integrated building venture designed to deliver automated, standardised homes from groundworks to completion in under 100 days. While FBR’s application was unsuccessful, the Company continues to advance the HadrianHomesconceptinthebackground. FBR formally announced the launch of Firehawk™ in February 2026, an autonomous refractory lining robot designed to remove human labour from the hazardous, high-temperature, and continuous process of lining steelproductionladleswithrefractorybricks. Steel processing ladles typically hold between 50 and 300 tonnes of molten steel and require frequent refractory brick re-lining after short operating campaigns. Firehawk™ applies FBR’s core Dynamic StabilisationTechnology™ (DST® ) and precision brick handlingmechanismstoautomatethisheavyindustrial maintenancecycle. FBR retains 100% ownership of the Firehawk™ intellectual property and registered trademarks. Following inbound commercial interest from global steel mills and industry equipment suppliers, FBR commenced evaluating partnership and contract R&D frameworks with major market incumbents to fund the development and deployment of the platform. FBR expects the Firehawk™ program to be a multi-year developmentprogram. ContractR&D FBR successfully demonstrated the prototype module of a bespoke shipbuilding automation robot developed under an Engineering Services Agreement (ESA) with Samsung Heavy Industries (SHI). Following successful demonstration, FBR received final Stage 1 milestone payments. Discussions with SHI regarding frameworks forfurtherdevelopmentanddeliveryareongoing. FBR LIMITED 2026 ANNUAL REPORT 10 Introducing the world's most advanced construction robot, capable of building structural, load-bearingwallsofahousein aslittleasaday. KeyFeatures PrecisionConstructionRobot A unique mobile robotic system mounted into a classic caboverenginetrucktoeasilytransportittoandfroma locationforon-sitebuilding. IntelligentControlSystem Proprietary software turns wall designs into block positions, reducing material handling andwaste. Keeps allstakeholdersalignedwithonesourceofdata. DynamicStabilisationTechnology™ DST® corrects for movement and vibration in real- time, allowing Hadrian® to lay blocks precisely - even outdoors. This patented tech has broader industrial applications. FastbrickWallSystem® Optimised blocks and adhesives enable fast, accurate builds with easy cavity access. Compatible with render and otherfinishes. Available globallythrough WaaS® or underlicenseforHadrian-poweredbusinesses. ShuttleBlockDeliverySystem Shuttle Block Delivery System designed to lay existing commerciallyavailableblocks,aswellastheabilitytolay blocks not yet available on the market, including large blocks measuring upto 600mmx400mmx300mm andweighingupto45kg. Hadrian® hasbeendesignedtobeabletolayatspeeds of up to 360 blocks per hour and has the potential to complete both the external and internal walls of a standarddoublebrickhouseinasingleday. FBR LIMITED 2026 ANNUAL REPORT 11 TelescopicBoomArm A lengthened 32 metre telescopic boom arm provides further reach than its predecessor, enabling construction of walls three storeys high from the roadside as well as the ability to lay blocks within 50 mmofexistingwalls. ModularDesign Most ancillary equipment on the Hadrian® is self-contained, greatly improving deploymentefficiency. An optional Saw Module design enables height,mitreandgablecutstoblocks,further increasingcapability. Hadrian® isdesignedwithdistributedcontrol architecture, leading to a highly reliable system which allows for individual modules to be customised, repaired and swapped efficiently. FBR LIMITED 2026 ANNUAL REPORT 12 Meetanadvanced8mreach roboticwelderthatsimplifies heavyfabricationautomation. Compact,powerful,anddesigned forseamlessintegrationintoyour existingworkflow. KeyFeatures FlexibleWelderIntegration Standard configuration includes a Fronius TPS400i welder,with high-depositiontwin-wire optionfeaturing dual Fronius TPS 500i welders. Mantis™ is designed with adaptability in mind and can be integrated with yourpreferredbrandofweldingequipment. Intuitive&AdaptableProgramming Program complex paths easily with Verbotics. Simple operations and basic welds can be managed via the built-in controls. Mantis™ can also be integrated with otherprogrammingpackagestosuityourworkflow. PendulumWorkflow Capable of operating in a pendulum style between 1, 2 or4workspaces,allowingparallelsetupandcontinuous weldingformaximizedthroughput. DynamicStabilisationTechnology™ Leverages FBR's proprietary DST® to counteract vibrations and movement in real-time. This ensures exceptionallystableandprecisewelding,evenatfull8m reach. UnlockNewLevelsof Productivity&Precision Unmatched Stability & Precision: With FBR's Dynamic Stabilisation Technology™ (DST® ) at its core, Mantis™ delivers consistent, high-quality welds byactivelycompensatingforenvironmentalfactorsand robotarmdynamics. Boost Productivity: Minimize downtime with faster installation and continuous operation thanks to the pendulum workspace design. Anticipate up to 4x the productivityofamanualwelder. HighDepositionWelding:Achievewelding rates ofup to 1000mm/min, matching sub-arc speeds with the flexibilityofa robotic arm, reducing setuptime and part manipulation. Automate Complex Welds: Effortlessly handle thick platewithfullyautomatedmulti-passwelding,ensuring superiorqualityandconsistencyondemandingjobs. Optimize Your Space: Free up valuable factory floor with a nimble robot that doesn't need bulky infrastructure. Highly Adaptable: Integrate your preferred welding equipment and programming packages for a seamless fitintoyourexistingoperations. Address Labor Challenges: Enhance your workforce capabilities and address skills shortages with reliable, high-qualityautomatedwelding. FBR LIMITED 2026 ANNUAL REPORT 13 TransparentInvestment, TangibleReturns The FBR Mantis™ is offered at $A990,000 (plus variable optional extras, site-specific installation, integration costs and support package).Webelieveintransparent,easy-to- understandpricing,ensuringyouhaveaclear picture of your investment in transformative weldingautomation. Contact FBR to be among the first to adopt the Mantis™ robotic welder, with deliveries startingsoon. FBR LIMITED 2026 ANNUAL REPORT 14 TheFutureofLadleRelining FBR's Firehawk™ will be the world's most advanced ladle lining robot, purpose-built for the global steelmaking industry. It will eliminate human exposuretoextremeheatandconfinedspaces,whiledeliveringfasterrelines. Designedfromthegroundupforuseintoughfoundryenvironments. Its core stability and precision will be enabled by FBR's world-leading DynamicStabilisationTechnology™ (DST® ). Detailed design commencing aheadoffirstprototypedevelopment. FBR LIMITED 2026 ANNUAL REPORT 14 ComingSoon:Firehawk™:an advancedrefractoryliningrobot, aimingtoremovehumansfrom hazardousladleenvironments. DST® -powered,andbuilttodeliver faster,saferrelines. FBR LIMITED 2026 ANNUAL REPORT 15 Safer. Faster. Autonomous. UnlockNewLevelsofSafety&Uptime KeyDesignFeatures One-TouchOperation Select the ladle type and brick configuration, and Firehawk™ will handle the rest. Pre-approved ladle layouts will be sequenced automatically - no complex programmingrequired. CompleteReliningCapability Firehawk™will handlethefull reline process: boththe insulating sand and refractory brick placement. One robot,onesetup,oneseamlessoperationfromstartto finish. ZeroHumanExposure Fully autonomous operation will keep workers out of the ladle - eliminating exposure to extreme heat, confinedspaces,andrepetitivemanualhandling. DynamicStabilisationTechnology™ Leverages FBR's proprietary DST® to counteract vibrations and movement in real-time. This ensures relines are completed to the highest standard, maximisinglongevity. DST® PoweredPrecision: With FBR's Dynamic Stabilisation Technology™ at its core, Firehawk™ aims to place refractory bricks with consistent accuracy across its full 10-metre reach,automaticallycompensatingfordeflection, vibrationsandvariationinyourladles. AccelerateRelines: Aims to complete relines in aslittleasaday.Firehawk™willhandlecomplete relines, bricks and sand, minimising ladle downtimeandmaximisingplantthroughput. ScalableAcrossYourFleet:Designedtohandle ladles ranging from 10t to 350t capacity. One system may adapt to a full range of ladle sizes, operators selecting from pre-approved lining designs. FBR LIMITED 2026 ANNUAL REPORT 15 AutomatetheHardestJobinthePlant:Fullyautonomous brick and sand placement will eliminate manual handling in extreme heat and confined spaces - aiming to deliver consistentrelinequalitywithoutputtingworkersatrisk. Designed for Plant Conditions: Firehawk™ will operate within a 10m x 10m footprint, and handles ladles from 10t to 350t capacity, integrating into existing maintenance workflowwithoutmajorinfrastructurechanges. Simplify Operations: Pre-approved ladle layouts means operators will select the job and monitor - no specialist programming skills required. Firehawk™ will sequence the fullrelineautomaticallytoengineeringspecifications. Solve the Labour Problem: Aims to reduce reliance on scarce skilled labour for one of the most physically demandingandhazardousrolesinsteelmaking.Firehawk™ aimstodeliverreliable,repeatablerelinesshiftaftershift. FBR LIMITED 2026 ANNUAL REPORT 16 Corporate Governance Board Audit&RiskCommittee Board&Committees The Board is ultimately responsible for all matters relating to the running of the Company. The Board's role is to govern the Company rather than to manage it. In governing the Company, the Directors must act in the best interests of the Company as a whole. It is the role of senior management to manage the Company in accordance with the direction and delegations of the Board and the responsibility of the Board to oversee the activities of management in carryingoutthesedelegatedduties. Since the end of FY25, the Board has absorbed the responsibilities of the Remuneration and People Committee, and for FY27 will absorb the responsibilities of the Audit & Risk Committee. TheAudit&RiskCommitteeduringFY26 wascomprisedofthefollowing: Members 1 July 2025 to 30 September 2025 significant financial reporting judgments. Overseeing the financial reporting to ensure it is appropriate and of high quality prior to recommending adoption of the financial statements by the Board for release to the ASX and shareholders; • Reviewing the Company's internal financial control system and risk managementsystemsincludingthe Company's Risk Management and Internal Compliance and Control policy; • Monitoring, reviewing and overseeing the external audit function including matters concerning appointment and remuneration, independence and non-auditservices; • Monitoring and reviewing compliance with the Company's CodeofConduct;and • Performing such other functions as assigned by law or the Company's Constitution. • RichardGrellman(Chair); • ShannonRobinson(member);and • NancyMilne(member). Members 1 October 2025 to 8 February 2026 • GlennCooper(Chair);and • ShannonRobinson(member). Members 9 February 2026 to 30 June 2026 • GlennCooper(Chair); • ShannonRobinson(member);and • LindsayPartridge(member). The role of the Audit & Risk Committee is to assist the Board in fulfilling its statutory responsibilities in relation to financial reporting, risk management and internal control including, but not limitedto: • Assessing the risk and control environment-reviewingaccounting policies, internal controls, practices and disclosures to assist the Board inmakinginformeddecisions; • Monitoring and reviewing the integrity of the financial reporting of the Company and reviewing FBR LIMITED 2026 ANNUAL REPORT 17 Financial Report Fortheyearended 30June2026 FBR LIMITED 2026 ANNUAL REPORT 17 FBR LIMITED 2026 ANNUAL REPORT 18 Contents Director'sReport.................................................................................................................................................... RemunerationReport.......................................................................................................................................... Auditor'sIndependenceDeclaration............................................................................................................ ConsolidatedStatementofProfitorLossandOtherComprehensiveIncome....................... ConsolidatedStatementofFinancialPosition......................................................................................... ConsolidatedStatementofChangesinEquity....................................................................................... ConsolidatedStatementofCashFlows..................................................................................................... NotestotheConsolidatedFinancialStatements................................................................................... ConsolidatedEntityDisclosureStatement............................................................................................... Directors'Declaration.......................................................................................................................................... IndependentAuditor'sReport.