SEDAR Interim Financial Statements

NEW EARTH RESOURCES CORP. (Formerly, Oberon Uranium Corp.) Condensed Interim Consolidated Financial Statements For the Three and Nine Months Ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) NOTICE OF NO AUDITOR REVIEW OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the condensed interim consolidated financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor. The accompanying unaudited condensed interim consolidated financial statements have been prepared by and are the responsibility of management. The Company's independent auditor has not performed a review of these financial statements in accordance with the standards established by the Chartered Professional Accountants of Canada for a review of condensed interim consolidated financial statements by an entity's auditor. NEW EARTH RESOURCES CORP. (Formerly, Oberon Uranium Corp.) Condensed Interim Consolidated Statements of Financial Position (Unaudited - Expressed in Canadian Dollars) The accompanying notes are an integral part of these condensed interim consolidated financial statements. 6 Note December 31, 2025 March 31, 2025 $ $ ASSETS Current assets Cash and cash equivalents 167,618 589 Prepaid Expenses 1,121,579 - Amounts receivable 120,599 11,894 1,409,796 12,483 Exploration and evaluation assets 3,4,5 1,125,406 1,024,428 Total Assets 2,535,202 1,036,911 LIABILITIES Current liabilities Accounts payable and accrued liabilities 8 298,598 369,120 Advances payable 9 3,500 44,250 302,098 413,370 SHAREHOLDERS' EQUITY Share capital 7 7,800,073 5,732,345 Contributed surplus 260,819 187,727 Deficit (5,827,788) (5,296,531) 2,233,104 623,541 Total Liabilities and Shareholders’ Equity 2,535,202 1,036,911 Nature and going concern (Note 1) Approved on behalf of the Board of Directors on March 2, 2026: /s/ Lawrence Hay /s/ Ash Misquith Lawrence Hay Ash Misquith Director Director NEW EARTH RESOURCES CORP. (Formerly, Oberon Uranium Corp.) Condensed Interim Consolidated Statements of Loss and Comprehensive Loss For the Three and Nine Months Ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) The accompanying notes are an integral part of these condensed interim consolidated financial statements. 7 Three months ended December 31, Nine months ended December 31, Note 2025 2024 2025 2024 $ $ $ $ Expenses Advertising and promotion 125,113 - 125,113 - Consulting fees 69,179 7,500 169,179 30,000 Filing fees 32,192 6,667 44,165 17,655 Interest and bank charges 440 255 8,357 1,083 Management fees 8 15,000 15,000 45,000 45,000 Meals and entertainment - - 304 1,985 Office and general 34,166 - 34,882 - Professional fees 8 26,117 7,692 105,783 81,423 Operating expenses (302,207) (37,114) (532,783) (177,146) Foreign exchange 1,526 - 1,526 (442) Realized loss on marketable securities - 425 - (10,338) Unrealized gain on marketable securities 5 - (3,150) - - Loss and comprehensive loss for the period (300,681) (39,839) (531,257) (187,926) Basic and diluted loss per common share (0.02) (0.00) (0.02) (0.02) Weighted average number of common shares outstanding – basic and diluted 17,730,730 12,507,000 26,761,575 12,458,781 NEW EARTH RESOURCES CORP. (Formerly, Oberon Uranium Corp.) Condensed Interim Consolidated Statements of Changes in Shareholders’ Equity For the Three and --- Nine Months Ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) The accompanying notes are an integral part of these condensed interim consolidated financial statements. 8 Number of Common Shares1 Share Capital Contributed Surplus Subscriptions Received Deficit Total # $ $ $ $ $ Balance, March 31, 2024 8,987,000 4,940,345 187,727 - (1,186,867) 3,941,205 Shares issued for exploration and evaluation assets 3,520,000 792,000 - - - 792,000 Subscriptions received - - - 62,500 - 62,500 Net loss for the period - - - - (187,926) (187,926) Balance, December 31, 2024 12,507,000 5,732,345 187,727 62,500 (1,374,793) 4,607,779 Subscriptions received - - - (62,500) - (62,500) Net loss for the period - - - - (3,921,738) (3,921,738) Balance, March 31, 2025 12,507,000 5,732,345 187,727 - (5,296,531) 623,541 Shares issued for private placement 5,998,000 524,825 - - - 524,825 Shares issued for FT private placement 2,422,112 1,089,950 - - - 1,089,950 Shars issued to acquire Red Wine Rare Earth Project 1,250,000 625,000 - - - 625,000 Finders’ Warrants - (73,092) 73,092 - - - Share issuance costs - (98,955) - - - (98,955) Net loss for the period - - - - (531,257) (531,257) Balance, December 31, 2025 22,177,112 7,800,073 260,819 - (5,827,788) 2,233,104 1 On September 22, 2025, the Company consolidated its common shares on a 10:1 basis and on November 10, 2025, the Company completed a share split of its common shares on a 2:1 basis. All share amounts have been restated to reflect the share consolidation and share split NEW EARTH RESOURCES CORP. (Formerly, Oberon Uranium Corp.) Condensed Interim Consolidated Statements of Cash Flow For the Three and Nine Months Ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian Dollars) The accompanying notes are an integral part of these condensed Interim consolidated financial statements. 9 2025 2024 $ $ Cash flows used in operating activities Loss for the period (531,257) (187,926) Non-cash items: Realized loss on marketable securities - 10,338 Changes in non-cash working capital: Amounts receivable (108,705) (5,524) Accounts payable and accrued liabilities (70,522) 7,268 Prepaid expenses (1,121,579) - (1,832,063) (175,844) Cash flows provided by (used in) investing activities Exploration and evaluation assets (5,978) (19,913) Sale of Fusion zone uranium project 700,000 - Acquisition of Carbon Markets Inc. - 397 Acquisition of SL project (170,000) - Sale of marketable securities - 129,662 524,022 110,146 Cash flows provided by financing activity Issuance of shares 1,614,775 - Share issuance costs (98,955) - Repayment of advances (40,750) - Subscriptions received - 62,500 1,475,070 62,500 Change in cash during the period 167,029 (3,198) Cash, beginning of period 589 7,147 Cash, end of period 167,618 3,949 Supplemental cash flow information: Shares issued for exploration and evaluation asset 625,000 792,000 NEW EARTH RESOURCES CORP. Notes to the Condensed Interim Consolidated Financial Statements For the Three and Nine Months Ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian dollars) 10 1. NATURE AND GOING CONCERN New Earth Resources Corp. (“New Earth” or the “Company”) (formerly, Oberon Uranium Corp.) was incorporated under the Business Corporations Act of British Columbia on October 14, 2021. All references in this document to the “Company” refer to New Earth and its wholly owned subsidiaries. The address of the Company’s head office and registered office is 1100-11 --- 99 West Hastings Street, Vancouver, BC, V6E 3T5, Canada. On November 18, 2022, the Company filed a Listing Statement with the Canadian Securities Exchange (the “CSE”) and on September 22, 2025, the Company’s shares were approved for trading on the CSE under the symbol “EATH”. New Earth Resources Corp. is a uranium exploration company which has the option to acquire 100% of the Lucky Boy uranium project, a past-producing uranium mine located in Arizona, USA. New Earth also owns 23 mineral claims near Uranium City, Saskatchewan, Canada, comprising of the Fusion Uranium Zone project (Note 4). New Earth Resources Corp. has the option to acquire a 100% interest in and to the SL Project. The Property consists of 23 claim units covering 1,1017 hectares located near Lac Brisson in Nunavik, Quebec, in the Strange Lake complex which is known for rare earth elements. In addition, the Company has the option to acquire 100% interest in the Red Wine Rare Earth Project, comprising 2 non-contiguous mineral claims located in Labrador, Canada covering approximately 1,575 hectares. The Company’s condensed interim consolidated financial statements have been prepared on the basis of accounting principles applicable to a going concern, which presumes that the Company will realize its assets and discharge its liabilities in the normal course of business for at least the next twelve months. The Company has experienced losses and negative cash flow from operations since incorporation. As at December 31, 2025, the Company had not yet generated revenues and had a working capital of $1,107,698 (2025 – deficit of $400,887). These factors indicate the existence of a material uncertainty that casts significant doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern and to realize the carrying value of its assets and discharge its liabilities when due is dependent upon obtaining additional financing sufficient to cover its operating costs. On September 22, 2025, the Company consolidated the issued share capital on the basis of a one post- consolidation Common Share for each ten pre-consolidation Common Shares. Outstanding stock options and warrants were adjusted by the Consolidation ratio. All common shares and per common share amounts in these consolidated financial statements have been retroactively restated to reflect the Consolidation. On November 10, 2025, the Company split the issued share capital on the basis of one (1) pre-split Share for every two (2) post-split Shares. All common shares and per common share amounts in these consolidated financial statements have been retroactively restated to reflect the Consolidation. These condensed interim consolidated financial statements do not give effect to any adjustments which would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities in other than the normal course of business and at amounts different from those reflected in the accompanying consolidated financial statements. 2. MATERIAL ACCOUNTING POLICY INFORMATION The following is a summary of the significant accounting policies used in the preparation of these condensed interim consolidated financial statements. Statement of compliance These condensed interim consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the Int --- ernational Accounting Standards Board (“IASB”). These condensed interim consolidated financial statements comply with International Accounting Standards (“IAS”) 34, Interim Financial Reporting. These condensed interim consolidated financial statements do not NEW EARTH RESOURCES CORP. Notes to the Condensed Interim Consolidated Financial Statements For the Three and Nine Months Ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian dollars) 11 include all of the information required of a complete set of financial statements and are intended to provide users with an update in relation to events and transactions that are significant to an understanding of the changes in financial position and the performance of the Company since de end of its last annual reporting period. It is therefore recommended that these condensed interim consolidated financial statements be read in conjunction with the annual financial statements of the Company for the year ended March 31, 2025, which were prepared in accordance with IFRS as issued by the IASB. The condensed interim consolidated financial statements of the Company for the period ended December 31, 2025, were approved and authorized for issuance by the Board of Directors on March 2, 2026. These condensed interim consolidated financial statements are presented in Canadian dollars which is the Company's functional currency. The accounting policies applied in preparation of these condensed interim consolidated financial statements are consistent with those applied and disclosed in the Company’s audited consolidated financial statements for the year ended March 31, 2025. Basis of consolidation The consolidated financial statements include the financial statements of the Company and its subsidiaries, which are controlled by the Company. Control is achieved when the parent company is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Specifically, the Company controls an investee if, and only if, the Company has all of the following: (i) power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee); (ii) exposure, or rights, to variable returns from its involvement with the investee; and (iii) the ability to use its power over the investee to affect its returns. The financial statements of the subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. All significant inter-company transactions, balances, income and expenses are eliminated on consolidation. The following is a list of the Company’s operating subsidiaries: Name of Entity Jurisdiction of incorporation Ownership interest as at December 31, 2025 Ownership interest as at March 31, 2025 2037881 Alberta Ltd. Alberta, Canada 100% 100% Carbon Markets Inc. Saskatchewan Canada 100% 100% 3. ASSET ACQUISITION On April 3, 2023, the Company acquired 23 mineral claims totalling 20,060 hectares near Uranium City, Saskatchewan, Canada known as the Fusion Uranium Zone project. The claims comprising the Fusion Uranium Zone project are subject to a 3% production royalty in favour of the royalty holders. The Company has the right to buy back the royalty for $1,000,000 at any time (Note 3). The Company acquired all of the issued and outstanding shares of 2037881 Alberta Ltd. in exchange for 4,0 --- 00,000 common shares of the Company, fair valued at $3,800,000 and $7,000 in cash. It was determined that at the date of the acquisition, April 3, 2023, the activities of 2037881 Alberta Ltd. did not constitute that of a business as defined by IFRS 3 and the acquisition was accounted for as an asset acquisition. There were no liabilities assumed as part of the purchase and 2037881 Alberta Ltd.’s only asset was 23 mineral claims near Uranium City, Saskatchewan Canada, comprised of the Fusion Uranium Zone project. Upon closing the transaction, 2037881 Alberta Ltd. became a subsidiary of the Company and the purchase price allocation was as follows: NEW EARTH RESOURCES CORP. Notes to the Condensed Interim Consolidated Financial Statements For the Three and Nine Months Ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian dollars) 12 Net assets acquired $ Exploration and evaluation assets 3,807,000 Total purchase price $ Cash 7,000 4,000,000 common shares @ $0.95 each 3,800,000 3,807,000 The results of 2037881 Alberta Ltd. have been consolidated in the financial statements from the date of acquisition. During the year ended March 31, 2025, the Company recorded an impairment expense of $3,107,000 on the Fusion Zone Project. The impairment assessment was triggered by indicators under IFRS 6, specifically the Company’s decision to pursue the sale of the project following a shift in strategic focus. In accordance with IAS 36 Impairment of Assets, the recoverable amount was determined based on the fair value less costs of disposal, which was estimated using the subsequent sale price. During the period ended December 31, 2025, the Company sold the Fusion Zone Project for $700,000 in cash. 4. ACQUISITION OF CARBON On April 5, 2024, the Company finalized a share purchase agreement to acquire all of the issued and outstanding shares of Carbon Markets Inc. (“Carbon”). in exchange for 3,520,000 common shares of the Company, fair valued at $792,000. It was determined that at the date of the acquisition, April 5, 2024, the activities of Carbon did not constitute that of a business as defined by IFRS 3 and the acquisition was accounted for as an asset acquisition. There were no liabilities assumed as part of the purchase and Carbon’s only asset was 3 mineral claims in Saskatchewan Canada. With the acquisition of these claims the Company controls ground surrounding and adjacent to past producing mines. Upon closing the transaction, Carbon became a subsidiary of the Company, and the purchase price allocation was as follows: Net assets acquired $ Cash 397 Exploration and evaluation assets 791,603 Total purchase price $ 3,520,000 common shares @ $0.225 each 792,000 792,000 The results of Carbon have been consolidated in the financial statements from the date of acquisition. During the year ended March 31, 2025, the Company recorded and impairment expense of $791,603 on the Saskatchewan Uranium (Carbon) Project. The impairment assessment was triggered by indicators under IFRS 6, specifically the Company’s decision to pursue a sale of the project following a shift in strategic focus. In accordance with IAS 36 Impairment of Assets, the recoverable amount was determined to be $nil, as no future economic benefits were expected from the project. As a result, the full carrying amount was written off. NEW EARTH RESOURCES CORP. Notes to the Condensed Interim Consolidated Financial Statements For the Three and Nine Months Ended December 31, 2025 and 2024 --- (Unaudited - Expressed in Canadian dollars) 13 5. EXPLORATION AND EVALUATION ASSETS Exploration and evaluation expenditures as at December 31, 2025 and March 31, 2025 are as follows: Lucky Boy Project Fusion Uranium Zone Project SL Project Red Wine Saskatchewan Uranium Total $ $ $ $ $ $ Acquisition Costs Balance, March 31, 2024 182,282 3,807,000 - - - 3,989,282 Acquisition costs – shares - - - 791,603 791,603 Impairment - (3,107,000) - - (791,603) (3,898,603) Balance, March 31, 2025 182,282 700,000 - - - 882,282 Disposal - (700,000) - - - (700,000) Additions - - 170,000 625,000 - 795,000 Balance, December 31, 2025 182,282 - 170,000 625,000 - 977,282 Exploration and Evaluation Expenses Balance, March 31, 2024 122,233 - - - - 122,233 Exploration costs 19,913 - - - - 19,913 Balance, March 31, 2025 142,146 - - - - 142,146 Exploration costs 5,978 - - - - 5,978 Balance, December 31, 2025 148,124 - - - - 148,124 Total Balance, March 31, 2025 324,428 700,000 - - - 1,024,428 Balance, December 31, 2025 330,406 - 170,000 625,000 - 1,125,406 Lucky Boy Project On January 12, 2022, the Company entered into an option agreement to acquire an undivided 100% interest in the Lucky Boy mineral claims located in Gila County, Arizona, (the "Lucky Boy Project") from GeoXplor Corp. (the "Optionor”). The Lucky Boy Project is subject to a 3% gross overriding royalty payable to the optionor, of which one-half of 3% can be purchased for USD $2,500,000 for a period of one year following commencement of commercial production. In order to exercise the option and earn a 100% interest in the Lucky Boy Project, the Company is required to make the cash payments and issue common shares as follows: Date for completion Option payment (US$) Common shares On execution of the letter agreement (non-refundable) (paid) 5,000 - On completion of Go-Public transaction (shares issued) (paid) 50,000 500,000 1st anniversary of the completion of a Go-Public Transaction (issued) - 250,000 Total 55,000 750,000 NEW EARTH RESOURCES CORP. Notes to the Condensed Interim Consolidated Financial Statements For the Three and Nine Months Ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian dollars) 14 On December 15, 2022, the Company made a cash payment of USD $50,000 ($66,661) under the option agreement for the Lucky Boy project; upon completion of the go-public transaction on November 23, 2022. On January 11, 2024, the Company issued 50,000 common shares, fair valued at $12,500 to satisfy the final conditions of the Lucky Boy Project agreement. During the year ended March 31, 2024, the Company incurred $21,655 in acquisition costs related to staking. During the period ended December 31, 2025, the Company incurred $5,978 in claim maintenance fees. Element 92 Project On January 26, 2022, the Company entered into an Option Agreement (the “Element 92 Option Agreement”) with Tamed Mining Corp. (“Tamed”) to acquire a 100% undivided interest in the Element 92 property located in northern Saskatchewan, Canada on the southern end of the Athabasca region. As per the Element 92 Option Agreement the Company made a cash payment of $30,000 and issued 1,200,000 common shares of the Company, fair valued at $120,000, thus satisfying the requirements of the Element 92 Option Agreement and acquiring a 100% undivided interest in the property. On March 12, 2024, the Company sold the Element 92 project to PLLR for cash considerations of $10,000 and 2,000,000 common shares of PLLR, which were valued at --- $140,000 (Note 6). The Company recorded a loss on sale of exploration assets of $11,500. Fusion Zone Project On April 3, 2023, the Company acquired 23 mineral claims totaling 20,060 hectares near Uranium City, Saskatchewan, Canada known as the Fusion Uranium Zone project. The claims comprising of the Fusion Uranium Zone project are subject to a 3% production royalty in favour of the royalty holders. The Company has the right to buy back the royalty for $1,000,000 at any time. During the year ended March 31, 2025, the Company recorded an impairment expense of $3,107,000 on the Fusion Zone Project. During the period ended December 31, 2025, the Company sold the Fusion Zone Project for $700,000. Saskatchewan Uranium On April 5, 2024, the Company acquired 3 mineral claims totaling 365 hectares in Saskatchewan, Canada. The claims further expand the Company’s uranium holdings in Saskatchewan as the Company now controls ground surrounding existing and past producing mines (Note 5). During the year ended March 31, 2025, the Company recorded an impairment expense of $791,603 related to the Saskatchewan Uranium claims. SL Project On September 10, 2025, the Company executed an option agreement with ESN investment Corp, pursuant to which the Company has the option to acquire a 100% interest in and to the SL Project, consisting of 23 rare earths claims near Lac Brisson in Nunavik Quebec. As per option agreement, the Company is required to make aggregate cash payments of $250,000, as follows: $170,000 on closing (paid), and additional $80,000 payable on or before the first anniversary of the Option Agreement. Red Wine Rare Earth Project On November 28, 2025, the Company executed an option agreement with Northex Capital Partners Inc. to acquire 100% interest in and to the Red Win Rare Earth Project, comprised of 2 non-contiguous mineral claims located in Labrador, Canada covering approximately 1,575 hectares in total. As per option agreement, the Company is required to issue an aggregate of 4,500,000 common shares as follows: • 1,2500,000 Shares within 10 business days of execution of the Agreement (issued). • 1,500,000 Shares on or before the first anniversary date of the Agreement. • 1,750,000 Shares on or before the second anniversary date of the Agreement. NEW EARTH RESOURCES CORP. Notes to the Condensed Interim Consolidated Financial Statements For the Three and Nine Months Ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian dollars) 15 6. MARKETABLE SECURITIES On March 12, 2024, the Company received 2,000,000 common shares of PLLR in exchange for the Element 92 project. The shares of PLLR are traded on the CSE. Changes in the Company’s marketable securities are as follows: $ Balance, March 31, 2024 140,000 Dispositions (129,662) Realized loss on sale (10,338) Balance, March 31, 2025 and December 31, 2025 - 7. SHARE CAPITAL Authorized The Company’s authorized share capital consists of an unlimited number of common shares without par value. Issued and Outstanding As at December 31, 2025, there were 22,177,112 issued and outstanding common shares. On September 22, 2025, the Company approved a share consolidation on a 10:1 basis. All historical figures in these condensed interim consolidated financial statements have been re-stated to reflect this consolidation. On November 10, 2025, the Company approved a share split on a 2:1 basis. All historical figures in these condensed interim consolidated financial statements have been re-sta --- ted to reflect this consolidation. During the nine months ending December 31, 2025, the Company had the following transactions: • On October 24, 2025, the Company closed a non-brokered private placement issuing 5,998,000 common shares at a price at $0.0875 per unit for total gross proceeds of $524,825. Each LIFE Unit is comprised of one Class A common share of the Company and one share purchase warrant. Each share purchase warrant is exercisable for one share at a price of $0.25 at any time after December 22, 2025 until October 24, 2027. The Company paid finder's fees of $10,497 in connection with the LIFE Offering. • On November 28, 2025, the Company issued 1,2500,000 common shares with a fair value of $0.50 per share, amounting to $625,000 as per the option agreement of Red Wine Rare Earth Project (Note 5). • On December 22, 2025, the Company closed a non-brokered private placement issuing 2,422,112 FT units at a price at $0.45 per FT unit to raise total gross proceeds of $1,089,950. Of the 2,422,112 FT units,1,222,112 of the are composed of one Class A common share of the Company and one share purchase warrant and the remaining 1,200,000 FT Units are comprised of 1 Class A common share and one half share purchase warrant. Each FT Unit Warrant entitles the holder to purchase one share at a price of $0.60 per share until December 22, 2028. In connection with the FT Offering, the Company paid aggregate cash finder’s fees of $76,796 and issued an aggregate of 170,657 finder’s warrants were fair valued at $73,092 using the Black-Scholes option pricing model, with each finder’s warrant exercisable for one Share at an exercise price of $0.45 per Share until December 22, 2028. The finder’s warrants were fair valued using the following assumptions: risk-free rate of 2.56%; volatility of 152%; expected life of 3 years; expected dividends – nil; expected forfeiture rate – nil. NEW EARTH RESOURCES CORP. Notes to the Condensed Interim Consolidated Financial Statements For the Three and Nine Months Ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian dollars) 16 Pursuant to the issuance of FT shares the Company renounced $1,089,950 in flow-through eligible expenditures using the look back rule at December 31, 2025. The Company has until December 31, 2026 to incur the required expenditures. During the year ending March 31, 2025, the Company had the following transactions: • On April 5, 2024, the Company issued 3,520,000 common shares pursuant to an agreement to acquire all of the issued and outstanding shares of Carbon (Note 5). The shares were valued at $792,000. Warrants The warrants outstanding as at December 31, 2025, and March 31, 2025 are as follows: Number of Warrants Weighted Average Exercise Price Weighted Average Life Remaining # $ (years) Balance, March 31, 2024 631,550 1.75 0.19 Expired (631,550) 1.75 Balance, March 31, 2025 - - - Issued 7,820,112 0.24 2.26 Exercised (3,016,000) 0.13 Balance, December 31, 2025 4,804,112 0.31 2.26 As of December 31, 2025, the Company had following warrants outstanding: Escrowed Shares As at December 31, 2025, nil (March 31, 2025 – 602,400) common shares of the Company were held in escrow and a portion will be released every 6 months from May 23, 2024 until November 23, 2025. Number of Share Warrants Exercise Price Expiry Date $ 2,982,000 0.125 October 24, 2027 1,822,112 0.600 December 22, 2028 4,804,112 NEW EARTH RESOURCES CORP. Notes to the Condensed Interim Consolidated Financial Stateme --- nts For the Three and Nine Months Ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian dollars) 17 8. RELATED PARTY TRANSACTIONS AND KEY MANAGEMENT COMPENSATION Key management personnel include those persons having authority and responsibility for planning, directing and controlling the activities of the Company as a whole. The Company has determined that key management personnel consist of executive and non-executive members of the Company’s Board of Directors and corporate officers. A summary of key management personnel compensation for the three and nine months ended December 31, 2025 and 2024 is as follows: Three months ended December 31, Nine months ended December 31, 2025 $ 2024 $ 2025 $ 2024 $ Management and director fees1 15,000 15,000 45,000 45,000 Professional fees2 11,350 7,692 33,550 30,554 Total 26,350 22,692 78,550 75,554 1 Management and director fees consist of fees paid or accrued to the CEO and directors of the Company. 2 Professional fees include amounts paid or accrued to a company in which the CFO acted as management. At December 31, 2025, amounts owing to key management of $58,303 (March 31, 2025 - $227,474) were included in accounts payable and accrued liabilities. The amounts were incurred in the normal course of business, are unsecured, non-interest bearing and due on demand. 9. ADVANCES PAYABLE During the year ended March 31, 2024, the Company received $44,250 in advances from shareholders. The amounts owing are unsecured, non-interest bearing and due on demand. During the nine months ended December 31, 2025, the Company repaid $40,750 and no advances remain outstanding. 10. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT The Company’s financial instruments consist of cash, accounts payable and accrued liabilities and advances. The carrying value of the financial instrument approximates their fair values due to their immediate or short- term maturity. The Company classifies the fair value of financial instruments according to the following hierarchy based on observable inputs used to value the instrument: Level 1 – Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 – Fair value measurements are those derived from inputs other than quoted prices that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (derived from prices). The Company does not have any financial instruments classified under Level 2. Level 3 – Valuations in the level are those with inputs for the asset or liability that are not based on observable market data. The Company does not have any financial instruments classified under Level 3. The Company’s fair value of marketable securities were based on the quoted market prices of the shares as at December 31, 2025 and was therefore measured using Level 1 inputs. The Company’s financial instruments are exposed to the following risks: NEW EARTH RESOURCES CORP. Notes to the Condensed Interim Consolidated Financial Statements For the Three and Nine Months Ended December 31, 2025 and 2024 (Unaudited - Expressed in Canadian dollars) 18 Credit Risk Credit risk is the risk of an unexpected loss if a customer or third party to a financial instrument fails to meet its contractual obligations. The Company’s cash is held at a large Canadian financial institution --- in interest bearing accounts. The carrying amount of financial assets represents the maximum credit exposure. Liquidity Risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company manages liquidity risk through its capital management and attempts to ensure that sufficient financial resources are available to meet liabilities as they come due. As at December 31, 2025, the Company had cash and cash equivalent of $167,618, current liabilities of $302,098 and current assets of $1,409,796. Foreign Exchange Rate Risk Foreign currency exchange rate risk is the risk that the fair value or future cash flows will fluctuate as a result of changes in foreign exchange rates. The Company’s started carrying out operations in Canada and the United States. As at December 31, 2025, the Company has engaged third parties to provide investors relation services in Europe. The Company has an interest in an exploration and evaluation property located in the United States, for which it has not incurred exploration costs during the year. These factors expose the Company to foreign currency exchange rate risk, which could have an adverse effect on the profitability of the Company. At this time, the Company currently does not have plans to enter into foreign-currency future contracts to mitigate this risk. Interest Rate Risk Interest rate risk is the risk the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Financial assets and liabilities with variable interest rates expose the Company to cash flow interest rate risk. The Company does not hold any interest bearing financial liabilities and therefore it is not currently subject to any significant interest rate risk. 11. CAPITAL MANAGEMENT The Company’s capital structure consists of shareholders’ equity. The Company’s objective when managing capital is to maintain adequate levels of funding to support the development of its businesses and maintain the necessary corporate and administrative functions to facilitate these activities. This is done primarily through equity financing. Future financings are dependent on market conditions and there can be no assurance the Company will be able to raise funds in the future. There were no changes to the Company’s approach to capital management during the nine months ended December 31, 2025 The Company is not subject to externally imposed capital requirements. The Company may raise additional debt or equity financing in the near future to meet its obligations. 12. SUBSEQUENT EVENT On January 6, 2026, the Company closed a non-brokered private placement issuing 2,200,000 units at price of $0.375 per unit for gross proceeds of $825,000. Each unit consists of one common share of the Company and one share purchase warrant exercisable at a price of $0.50, expiring on January 6, 2029. The Company issued 5,998,000 common shares pursuant to the exercise of warrants for gross proceeds of $749,750.