New Pacific Metals

For stock options, the number of additional shares for inclusion in diluted earnings per share calculations is determined when the exercise price is less than the average market price of the Company’s common shares; the stock options are assumed to be exercised and the proceeds are used to repurchase common shares at the average market price for the period.

SEC original ↗New Pacific Metals — Earnings release (6-K exhibit)EX-99Sep 4, 2026

The incremental number of common shares issued under stock options and repurchased from proceeds is included in the calculation of diluted earnings per share.

SEC original ↗New Pacific Metals — Earnings release (6-K exhibit)EX-99Sep 4, 2026

Notes to the Consolidated Financial Statements (Expressed in US dollars) The fair value of the options granted during the year ended June 30, 2026, were calculated as of the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions: Years ended June 30, 2026 2025 Risk free interest rate 2.43 % 2.76 % Expected volatility 71.49 % 70.35 % Expected life of options in years 2.75 2.75 Estimated forfeiture rate 0.16 0.14 Dividend yield Nil Nil The weighted average grant date fair value of options granted during the year ended June 30, 2026, was CAD$2.14 (year ended June 30, 2025 – CAD$0.72).

SEC original ↗New Pacific Metals — Earnings release (6-K exhibit)EX-99Sep 4, 2026

Cash used in investing activities for the three months and year ended June 30, 2026 were $1,235,758 and $3,728,153, respectively (the three months and year ended June 30, 2025 – $819,205 and $2,746,096) and were impacted by capital expenditures for mineral properties and equipment on the exploration projects in Bolivia.

SEC original ↗New Pacific Metals — Earnings release (6-K exhibit)EX-99Sep 4, 2026

The Company does not have unlimited resources and its future capital requirements will depend on many factors, including, among others, cash flow from interest, dividends, and realized gains on investments.

SEC original ↗New Pacific Metals — Earnings release (6-K exhibit)EX-99Sep 4, 2026

To the extent that its existing resources and the funds generated by future income are insufficient to fund the Company’s operations, the Company may need to raise additional funds through public or private debt or equity financing.

SEC original ↗New Pacific Metals — Earnings release (6-K exhibit)EX-99Sep 4, 2026

The Company manages its risk associated with bonds by only investing in large globally recognized corporations from diversified industries.

SEC original ↗New Pacific Metals — Earnings release (6-K exhibit)EX-99Sep 4, 2026

BUSINESS OVERVIEW AND STRATEGY The Company is a Canadian mining issuer engaged in exploring and developing mineral properties in Bolivia.

SEC original ↗New Pacific Metals — Earnings release (6-K exhibit)EX-99Sep 4, 2026

Further exploration activities remain on standby as the Company focuses on the programs for the Silver Sand Project and Carangas Project, as outlined above.

SEC original ↗New Pacific Metals — Earnings release (6-K exhibit)EX-99Sep 4, 2026

The decrease in project evaluation and corporate development expenses for the current periods was the result of less prospecting trips made in Bolivia for target generation, as the Company is focused on developing its existing projects.

SEC original ↗New Pacific Metals — Earnings release (6-K exhibit)EX-99Sep 4, 2026

(l) Significant Judgments and Estimation Uncertainties Many amounts included in the consolidated financial statements require management to make judgments and/or estimates.

SEC original ↗New Pacific Metals — Earnings release (6-K exhibit)EX-99Sep 4, 2026

The Company took steps to address the presence of these ASMs, including the commencement of formal legal proceedings in December 2023.

SEC original ↗New Pacific Metals — Earnings release (6-K exhibit)EX-99Sep 4, 2026

A change in the government’s position on these issues could adversely affect the ratification of the MPC and the Company’s business.

SEC original ↗New Pacific Metals — Earnings release (6-K exhibit)EX-99Sep 4, 2026

A change in the government’s position on these issues could adversely affect the ratification of the AMCs and the Company’s business Management’s Discussion and Analysis Page 8 NEW PACIFIC METALS CORP.

SEC original ↗New Pacific Metals — Earnings release (6-K exhibit)EX-99Sep 4, 2026