Forward-Looking Statements

Forward-looking statements

This website contains forward-looking statements about Universal Pozzolanic Silica Alumina Ltd ("UPSA") and the Warialda (Yammacoona Sand Quarry) project. These include statements about: future production rates and timing, including the move from 35,000 tonnes a year under the current consent to around 3 million tonnes a year; the State Significant Development (SSD) application and other approvals; upgrading the Mineral Resource; capital and operating costs; revenue, earnings and net present value; logistics and export routes; product qualification and market demand; and the development pathway.

Words such as "expects", "plans", "intends", "anticipates", "estimates", "targets", "potential", "may", "will", "could" and "should" identify forward-looking statements. They reflect UPSA's current expectations and the assumptions of independent consultants as at the date stated. They are not guarantees of future performance.

Key risks and uncertainties

Actual results may differ materially because of factors including:

• the outcome of further drilling, test pitting and studies, and whether the Inferred Resource can be upgraded;
• whether, when and on what conditions SSD approval and other permits are granted, including environmental, water, vegetation-offset and community requirements;
• product qualification against standards such as ASTM C618 and customer specifications, and the results of processing trials;
• achievable selling prices, sales volumes and the terms of any offtake agreements;
• capital and operating costs, inflation, and plant and equipment availability;
• road and port capacity, transport costs and freight rates;
• geotechnical and mine-design outcomes;
• the availability of funding;
• changes in carbon pricing, regulation and policy in Australia and export markets;
• exchange rates, competition and general economic conditions.

Mineral Resource

The Mineral Resource referred to on this website is an Inferred Mineral Resource reported under the JORC Code (2012) by SLR Consulting Australia Pty Ltd in its Competent Person's Report of 26 November 2025. An Inferred Resource has a lower level of confidence than an Indicated or Measured Resource, and on its own is not a sufficient basis for detailed mine planning or economic decisions. It is reasonably expected that most of an Inferred Resource could be upgraded with continued exploration, but this is not certain.

Statements about further volume potential below the current resource are conceptual. There has been insufficient exploration to estimate a Mineral Resource at those depths, and it is uncertain whether further exploration will result in one.

Financial evaluation

Financial figures, including net present value, capex, operating cost per tonne, production, revenue and earnings, come from an independent desktop evaluation by SLR Consulting Australia Pty Ltd (November 2025). The evaluation is a 25-year discounted cash flow from FY2026 to FY2050, including terminal value, at a 15% discount rate. It is contingent on the resource being proven and on SSD approval. The selling-price assumptions were supplied by UPSA and have not been independently verified. The figures are estimates, not forecasts, and should not be relied on for any investment decision. See the financial model for the full figures and sensitivities.

No obligation to update

Forward-looking statements speak only as at the date they are made. Except where the law requires, UPSA does not undertake to update or revise them to reflect new information, events or circumstances.

Not advice or an offer

Nothing on this website is investment, financial, legal, tax or technical advice, a recommendation, or an offer or solicitation of any security or interest. You should make your own enquiries and take independent professional advice. Detailed information, including the Competent Person's Report, is available on request under a non-disclosure agreement — contact our contact form.