IBAT reports Q4 FY2026 net loss of $5.3M; cash at $9.2M; DLE tech shows 98% Li recovery

Fourth Quarter Financial Highlights (fiscal year 2026 versus fiscal year 2025) • Revenue: $63 thousand compared to a reversal of ($11) thousand, reflecting service revenue from brine testing activities. • Operating Costs (excluding depreciation): $0.5 million compared to $1.0 million . • Selling, General and Administrative Expenses (excluding depreciation): $2.2 million compared to $2.3 million. • Operating Income/Loss: loss of ($3.4) million compared to ($4.1) million. • Change in Fair Value of Warrant Liability: ($1.4) million loss compared to a $5.3 million gain. • Net Income/(Loss) and Basic and Diluted Earnings Per Share (EPS): net loss ($5.3) million, or $(0.02) basic and diluted earnings per share, compared to net income of $0.3 million, or $0.00 basic and diluted earnings per share. • Cash: $9.2 million as of March 31, 2026.

Full Year Financial Highlights (fiscal year 2026 versus fiscal year 2025) • Revenue: $164 thousand compared to $871 thousand, reflecting service revenue from brine testing activities in the current year compared to reimbursable revenue in the prior year. • Operating Costs (excluding depreciation): $2.1 million compared to $3.5 million. • Selling, General and Administrative Expenses (excluding depreciation): $8.5 million compared to $9.0 million. • Operating Income/Loss: loss of ($13.5) million compared to ($15.2) million. • Change in Fair Value of Warrant Liability: $16.5 million gain compared to a $13.2 million gain. • Net Income/(Loss) and Basic and Diluted Earnings Per Share (EPS): net income of $0.1 million, or $0.00 basic and diluted earnings per share, compared to a net loss of ($3.5) million, or $(0.01) basic and diluted earnings per share.