New Risk • Mar 20
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 409% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Revenue is less than US$1m (AU$926k revenue, or US$656k). Market cap is less than US$10m (AU$10.2m market cap, or US$7.24m). Minor Risk Large one-off items impacting financial results. Reported Earnings • Mar 20
First half 2026 earnings released: EPS: AU$0.008 (vs AU$0.001 loss in 1H 2025) First half 2026 results: EPS: AU$0.008 (up from AU$0.001 loss in 1H 2025). Net income: AU$1.64m (up AU$1.81m from 1H 2025). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Board Change • Feb 11
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. CFO & Executive Director Jarrod White was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 14
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. CFO & Executive Director Jarrod White was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 07
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. No independent directors (3 non-independent directors). Non-Executive Director David Croll was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Oct 08
High Peak Royalties Limited, Annual General Meeting, Nov 19, 2025 High Peak Royalties Limited, Annual General Meeting, Nov 19, 2025. Reported Earnings • Oct 01
Full year 2025 earnings released: AU$0.002 loss per share (vs AU$0.001 loss in FY 2024) Full year 2025 results: AU$0.002 loss per share (further deteriorated from AU$0.001 loss in FY 2024). Revenue: AU$1.06m (down 3.5% from FY 2024). Net loss: AU$477.1k (loss widened 148% from FY 2024). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. New Risk • Sep 29
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Revenue is less than US$1m (AU$1.0m revenue, or US$678k). Market cap is less than US$10m (AU$12.5m market cap, or US$8.18m). Minor Risk Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Board Change • Aug 01
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. No independent directors (3 non-independent directors). Non-Executive Director David Croll was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Jul 14
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. No independent directors (3 non-independent directors). Non-Executive Director David Croll was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • May 19
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. No independent directors (3 non-independent directors). Non-Executive Director David Croll was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • May 01
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. No independent directors (3 non-independent directors). Non-Executive Director David Croll was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Mar 18
First half 2025 earnings released: AU$0.001 loss per share (vs AU$0 in 1H 2024) First half 2025 results: AU$0.001 loss per share (further deteriorated from AU$0 in 1H 2024). Revenue: AU$458.0k (down 13% from 1H 2024). Net loss: AU$165.9k (loss widened 80% from 1H 2024). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Board Change • Feb 21
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. No independent directors (3 non-independent directors). Non-Executive Director David Croll was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Feb 03
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. No independent directors (3 non-independent directors). Non-Executive Director David Croll was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. New Risk • Jan 15
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.6m (US$9.68m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Revenue is less than US$1m (AU$1.1m revenue, or US$683k). Market cap is less than US$10m (AU$15.6m market cap, or US$9.68m). Announcement • Oct 11
High Peak Royalties Limited, Annual General Meeting, Nov 15, 2024 High Peak Royalties Limited, Annual General Meeting, Nov 15, 2024. Location: at 24-26 kent street, millers point, new south wales 2000 Australia Reported Earnings • Sep 28
Full year 2024 earnings released: AU$0.001 loss per share (vs AU$0.002 profit in FY 2023) Full year 2024 results: AU$0.001 loss per share (down from AU$0.002 profit in FY 2023). Revenue: AU$1.11m (down 27% from FY 2023). Net loss: AU$192.7k (down 139% from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. New Risk • Aug 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$12.5m (US$8.49m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Revenue is less than US$1m (AU$1.5m revenue, or US$997k). Market cap is less than US$10m (AU$12.5m market cap, or US$8.49m). Reported Earnings • Mar 20
First half 2024 earnings released: EPS: AU$0 (vs AU$0 in 1H 2023) First half 2024 results: EPS: AU$0 (in line with 1H 2023). Revenue: AU$523.6k (down 9.7% from 1H 2023). Net loss: AU$92.3k (down 211% from profit in 1H 2023). Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Board Change • Jan 22
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director David Croll was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 06
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director David Croll was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 10
High Peak Royalties Limited, Annual General Meeting, Nov 16, 2023 High Peak Royalties Limited, Annual General Meeting, Nov 16, 2023, at 11:01 AUS Eastern Standard Time. Agenda: To consider the election of Directors. Board Change • Oct 06
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director David Croll was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 30
Full year 2023 earnings released: EPS: AU$0.002 (vs AU$0.004 loss in FY 2022) Full year 2023 results: EPS: AU$0.002 (up from AU$0.004 loss in FY 2022). Revenue: AU$1.53m (up 47% from FY 2022). Net income: AU$492.9k (up AU$1.25m from FY 2022). Profit margin: 32% (up from net loss in FY 2022). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Board Change • Aug 15
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director David Croll was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jul 26
High Peak Royalties Limited Announces the Change in Designation of James Knowles from Non-Executive Chairman to Executive Chairman High Peak Royalties Limited announced that Mr. James Knowles, who was appointed as the Non-Executive Chairman on 10 November 2022, has now beenappointed as Executive Chairman with immediate effect. The change in Mr. Knowles' designation to Executive Chairman follows activities in relation to the portfolio review completed, recent focus on royalties that High Peak holds in Queensland and the Northern Territory, and geothermal projects (as previously announced), of which the Company has exposure to multiple assets and tenements. In assisting in these activities Mr. Knowles has applied his technical and commercial knowledge and taken a proactive approach in leading High Peak's focus in reviewing its asset base. The Board believes that indesignating Mr. Knowles as an Executive Chairman he will be well positioned to continue to utilise his technical and commercial expertise, and progress and expand the Company's future plans. Following the appointment of Mr. Knowles as the Executive Chairman, Mr. David Croll and Mr. AnthonyWooles will remain as Non-Executive Directors. Reported Earnings • Mar 16
First half 2023 earnings released: EPS: AU$0 (vs AU$0 in 1H 2022) First half 2023 results: EPS: AU$0 (in line with 1H 2022). Revenue: AU$580.6k (up 33% from 1H 2022). Net income: AU$83.4k (up AU$158.6k from 1H 2022). Profit margin: 14% (up from net loss in 1H 2022). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Board Change • Jan 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Chairman James Knowles was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Chairman James Knowles was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 12
High Peak Royalties Limited Announces Executive Changes High Peak Royalties Limited announced that with immediate effect Mr. David Croll, the current Interim Chairman has stepped down and will continue to serve the Company as a Non-Executive Director, in favour of a unanimous resolution to elect current Non-Executive Director Mr. James Knowles to the role of Chairman. Mr. Knowles' experience in over 25 years as a geologist includes working in senior technical roles for companies such as BHP, Peabody Energy Australia, and more recently being a Founder and Director of Measured Group Pty Ltd, a technical consulting business that consults to a range of exploration and mining companies in Australia and overseas. His participation at a Board level has included applying his technical and commercial knowledge across High Peak's royalty portfolio and geothermal tenement set. Mr. Knowles has proven his expertise to lead High Peak, and the Board is confident that he will continue to progress the company's future plans. In conjunction with the current Board leadership review the Company advised that Mr. Jarrod White has resigned as Company Secretary effective 10 November 2022, and will continue to as the Chief Financial Officer, allowing his time to be more appropriately focused on the financial management of the Company and to support Mr. Knowles as incoming Chairman. Ms Louisa Ho has been appointed Company Secretary of the Company effective immediately, and will be supported by Mr. White in a transition of his Company Secretarial responsibilities. Board Change • Oct 17
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director James Knowles was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 05
High Peak Royalties Limited, Annual General Meeting, Nov 11, 2022 High Peak Royalties Limited, Annual General Meeting, Nov 11, 2022, at 11:00 AUS Eastern Standard Time. Agenda: To consider election of Directors. Reported Earnings • Oct 01
Full year 2022 earnings released: AU$0.004 loss per share (vs AU$0.007 loss in FY 2021) Full year 2022 results: AU$0.004 loss per share (improved from AU$0.007 loss in FY 2021). Revenue: AU$1.06m (up 134% from FY 2021). Net loss: AU$759.0k (loss narrowed 42% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Board Change • May 05
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director James Knowles was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 18
First half 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First half 2022 results: EPS: AU$0 (up from AU$0.002 loss in 1H 2021). Net loss: AU$75.1k (loss narrowed 75% from 1H 2021). Revenue missed analyst estimates by 47%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Executive Departure • Dec 02
Non-Executive Director Andrew Carroll has left the company On the 30th of November, Andrew Carroll's tenure as Non-Executive Director ended after 7.6 years in the role. As of September 2021, Andrew still personally held 8.70m shares (AU$453k worth at the time). A total of 3 executives have left over the last 12 months. Executive Departure • Dec 02
Interim Independent Non-Executive Chairman Geoffrey King has left the company On the 30th of November, Geoffrey King's tenure as Interim Independent Non-Executive Chairman ended after less than a year in the role. As of September 2021, Geoffrey still personally held 1.81m shares (AU$94k worth at the time). A total of 3 executives have left over the last 12 months. Reported Earnings • Oct 01
Full year 2021 earnings released: AU$0.007 loss per share (vs AU$0.006 loss in FY 2020) Full year 2021 results: Net loss: AU$1.30m (loss widened 14% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Sep 27
High Peak Royalties Limited announced that it expects to receive AUD 0.8 million in funding High Peak Royalties Limited announced a private placement of 20,000,000 common shares at a price of AUD 0.04000 per share for gross proceeds of AUD 800,000 on September 27, 2021. The transaction included participation from existing sophisticated shareholders but majority of placement applications are from new professional and sophisticated investors. The directors or entities related to directors have committed to subscribe for 2,750,000 shares at the same issue price of AUD 0.04 for a total of AUD 110,000. The transaction is expected to close on October 4, 2021. Executive Departure • Jun 25
Joint Company Secretary Philip Leighfield has left the company On the 18th of June, Philip Leighfield's tenure as Joint Company Secretary ended after 3.6 years in the role. We don't have any record of a personal shareholding under Philip's name. Philip is the only executive to leave the company over the last 12 months. Reported Earnings • Oct 01
Full year earnings released - AU$0.0069 loss per share Over the last 12 months the company has reported total losses of AU$1.13m, with losses widening by 57% from the prior year. 
