0001831979 2026-01-01 2026-06-30 0001831979 SDST:CommonStockParValue0.0001PerShareMember 2026-01-01 2026-06-30 0001831979 SDST:RedeemableWarrantsWith10WarrantsExercisableForOneShareOfCommonStockAtExercisePriceOf115.00Member 2026-01-01 2026-06-30 0001831979 2026-08-12 0001831979 2026-06-30 0001831979 2025-12-31 0001831979 2026-04-01 2026-06-30 0001831979 2025-04-01 2025-06-30 0001831979 2025-01-01 2025-06-30 0001831979 us-gaap:RelatedPartyMember 2025-04-01 2025-06-30 0001831979 us-gaap:RelatedPartyMember 2025-01-01 2025-06-30 0001831979 2025-09-08 2025-09-08 0001831979 us-gaap:CommonStockMember 2025-12-31 0001831979 us-gaap:AdditionalPaidInCapitalMember 2025-12-31 0001831979 us-gaap:RetainedEarningsMember 2025-12-31 0001831979 us-gaap:CommonStockMember 2026-03-31 0001831979 us-gaap:AdditionalPaidInCapitalMember 2026-03-31 0001831979 us-gaap:RetainedEarningsMember 2026-03-31 0001831979 2026-03-31 0001831979 us-gaap:CommonStockMember 2024-12-31 0001831979 us-gaap:AdditionalPaidInCapitalMember 2024-12-31 0001831979 us-gaap:RetainedEarningsMember 2024-12-31 0001831979 2024-12-31 0001831979 us-gaap:CommonStockMember 2025-03-31 0001831979 us-gaap:AdditionalPaidInCapitalMember 2025-03-31 0001831979 us-gaap:RetainedEarningsMember 2025-03-31 0001831979 2025-03-31 0001831979 us-gaap:CommonStockMember 2026-01-01 2026-03-31 0001831979 us-gaap:AdditionalPaidInCapitalMember 2026-01-01 2026-03-31 0001831979 us-gaap:RetainedEarningsMember 2026-01-01 2026-03-31 0001831979 2026-01-01 2026-03-31 0001831979 us-gaap:CommonStockMember 2026-04-01 2026-06-30 0001831979 us-gaap:AdditionalPaidInCapitalMember 2026-04-01 2026-06-30 0001831979 us-gaap:RetainedEarningsMember 2026-04-01 2026-06-30 0001831979 us-gaap:CommonStockMember SDST:AtTheMarketOfferingMember 2026-04-01 2026-06-30 0001831979 us-gaap:AdditionalPaidInCapitalMember SDST:AtTheMarketOfferingMember 2026-04-01 2026-06-30 0001831979 us-gaap:RetainedEarningsMember SDST:AtTheMarketOfferingMember 2026-04-01 2026-06-30 0001831979 SDST:AtTheMarketOfferingMember 2026-04-01 2026-06-30 0001831979 us-gaap:CommonStockMember 2025-01-01 2025-03-31 0001831979 us-gaap:AdditionalPaidInCapitalMember 2025-01-01 2025-03-31 0001831979 us-gaap:RetainedEarningsMember 2025-01-01 2025-03-31 0001831979 2025-01-01 2025-03-31 0001831979 us-gaap:CommonStockMember 2025-04-01 2025-06-30 0001831979 us-gaap:AdditionalPaidInCapitalMember 2025-04-01 2025-06-30 0001831979 us-gaap:RetainedEarningsMember 2025-04-01 2025-06-30 0001831979 us-gaap:CommonStockMember 2026-06-30 0001831979 us-gaap:AdditionalPaidInCapitalMember 2026-06-30 0001831979 us-gaap:RetainedEarningsMember 2026-06-30 0001831979 us-gaap:CommonStockMember 2025-06-30 0001831979 us-gaap:AdditionalPaidInCapitalMember 2025-06-30 0001831979 us-gaap:RetainedEarningsMember 2025-06-30 0001831979 2025-06-30 0001831979 2025-09-08 0001831979 srt:MaximumMember SDST:SecuritiesPurchaseAgreementMember 2025-12-23 2025-12-23 0001831979 SDST:SecuritiesPurchaseAgreementMember 2025-12-23 2025-12-23 0001831979 SDST:SecuritiesPurchaseAgreementMember 2025-12-23 0001831979 us-gaap:CommonStockMember 2026-02-12 2026-02-12 0001831979 SDST:SalesAgreementMember 2026-05-08 0001831979 SDST:SalesAgreementMember 2026-05-08 2026-05-08 0001831979 us-gaap:CommonStockMember 2026-05-08 2026-05-08 0001831979 srt:MinimumMember us-gaap:EquipmentMember 2026-06-30 0001831979 srt:MaximumMember us-gaap:EquipmentMember 2026-06-30 0001831979 SDST:RestrictedStockOptionsMember 2026-01-01 2026-06-30 0001831979 SDST:RestrictedStockOptionsMember 2025-01-01 2025-06-30 0001831979 us-gaap:RestrictedStockUnitsRSUMember 2026-01-01 2026-06-30 0001831979 us-gaap:RestrictedStockUnitsRSUMember 2025-01-01 2025-06-30 0001831979 us-gaap:PerformanceSharesMember 2026-01-01 2026-06-30 0001831979 us-gaap:PerformanceSharesMember 2025-01-01 2025-06-30 0001831979 SDST:SponsorEarnoutSharesMember 2026-01-01 2026-06-30 0001831979 SDST:SponsorEarnoutSharesMember 2025-01-01 2025-06-30 0001831979 SDST:PublicWarrantsMember 2026-01-01 2026-06-30 0001831979 SDST:PublicWarrantsMember 2025-01-01 2025-06-30 0001831979 SDST:PrivateWarrantsMember 2026-01-01 2026-06-30 0001831979 SDST:PrivateWarrantsMember 2025-01-01 2025-06-30 0001831979 SDST:InducementWarrantsMember 2026-01-01 2026-06-30 0001831979 SDST:InducementWarrantsMember 2025-01-01 2025-06-30 0001831979 SDST:ShortTermLoanWarrantsMember 2026-01-01 2026-06-30 0001831979 SDST:ShortTermLoanWarrantsMember 2025-01-01 2025-06-30 0001831979 SDST:PrivatePlacementWarrantsMember 2026-01-01 2026-06-30 0001831979 SDST:PrivatePlacementWarrantsMember 2025-01-01 2025-06-30 0001831979 SDST:ConvertibleNoteMember 2026-01-01 2026-06-30 0001831979 SDST:ConvertibleNoteMember 2025-01-01 2025-06-30 0001831979 SDST:ConvertibleNoteWarrantsMember 2026-01-01 2026-06-30 0001831979 SDST:ConvertibleNoteWarrantsMember 2025-01-01 2025-06-30 0001831979 SDST:PrairieLithiumLimitedMember 2025-10-20 0001831979 SDST:PrairieLithiumLimitedMember 2025-10-20 2025-10-20 0001831979 SDST:MandrakeResourcesLimitedMember 2025-10-31 0001831979 SDST:MandrakeResourcesLimitedMember 2025-10-31 2025-10-31 0001831979 SDST:MandrakeResourcesLimitedMember 2026-03-13 0001831979 SDST:MandrakeResourcesLimitedMember 2026-03-13 2026-03-13 0001831979 SDST:GlobalPartnerSponsorIILLCMember 2026-01-01 2026-06-30 0001831979 SDST:GlobalPartnerSponsorIILLCMember 2026-06-30 0001831979 SDST:PurchaseAgreementMember 2024-10-07 2024-10-07 0001831979 SDST:PurchaseAndRegistrationRightsAgreementMember 2024-10-07 2024-10-07 0001831979 srt:MaximumMember SDST:BRileyMember SDST:PurchaseAndRegistrationRightsAgreementMember 2024-10-07 2024-10-07 0001831979 SDST:BRileyMember SDST:PurchaseAndRegistrationRightsAgreementMember 2024-10-07 2024-10-07 0001831979 SDST:BRileyMember SDST:PurchaseAndRegistrationRightsAgreementMember 2025-06-30 0001831979 SDST:BRileyMember SDST:PurchaseAndRegistrationRightsAgreementMember 2025-01-01 2025-06-30 0001831979 SDST:BRileyMember SDST:PurchaseAndRegistrationRightsAgreementMember 2025-04-01 2025-06-30 0001831979 SDST:PurchaseAndRegistrationRightsAgreementMember 2025-01-01 2025-06-30 0001831979 SDST:BRileyMember 2025-12-11 2025-12-11 0001831979 SDST:BRileyMember 2025-12-11 0001831979 SDST:BRileyMember 2025-12-15 2025-12-15 0001831979 SDST:BRileyMember 2025-01-01 2025-12-31 0001831979 SDST:BRileyMember 2026-01-01 2026-06-30 0001831979 SDST:BRileyMember 2026-01-01 2026-01-31 0001831979 2026-05-01 2026-05-31 0001831979 SDST:BRileyMember 2026-05-01 2026-05-31 0001831979 2025-01-01 2025-12-31 0001831979 SDST:BRileyMember 2026-02-12 2026-02-12 0001831979 SDST:BRileyMember 2026-02-12 0001831979 SDST:BRileyMember 2026-05-31 0001831979 SDST:PurchaseAgreementMember 2026-04-01 2026-06-30 0001831979 SDST:PurchaseAgreementMember 2026-01-01 2026-06-30 0001831979 srt:MaximumMember SDST:SalesAgreementMember 2026-05-08 2026-05-08 0001831979 SDST:ATMAgreementMember 2026-05-08 2026-05-08 0001831979 SDST:SalesAgreementMember 2026-04-01 2026-06-30 0001831979 SDST:SalesAgreementMember 2026-06-30 0001831979 us-gaap:CommonStockMember SDST:SalesAgreementMember 2026-06-30 0001831979 us-gaap:CommonStockMember 2026-01-01 2026-06-30 0001831979 us-gaap:CommonStockMember us-gaap:SubsequentEventMember 2026-07-01 2026-08-13 0001831979 us-gaap:CommonStockMember us-gaap:SubsequentEventMember 2026-07-01 2026-08-12 0001831979 us-gaap:IPOMember 2025-04-01 2025-06-30 0001831979 us-gaap:OverAllotmentOptionMember 2025-04-01 2025-06-30 0001831979 us-gaap:CommonStockMember SDST:KMXLicensingAgreementsMember 2025-02-07 0001831979 us-gaap:CommonStockMember 2025-10-30 2025-10-30 0001831979 us-gaap:PrivatePlacementMember 2024-01-01 2024-12-31 0001831979 srt:MaximumMember SDST:PurchaseAgreementsMember 2024-01-01 2024-12-31 0001831979 us-gaap:WarrantMember SDST:PurchaseAgreementsMember 2024-12-31 0001831979 us-gaap:WarrantMember SDST:PIPEInvestorMember SDST:PurchaseAgreementsMember 2024-01-01 2024-12-31 0001831979 us-gaap:WarrantMember SDST:PIPEInvestorMember SDST:PurchaseAgreementsMember 2025-01-01 2025-01-31 0001831979 us-gaap:CommonStockMember SDST:PurchaseAgreementsMember 2025-04-24 2025-04-24 0001831979 us-gaap:WarrantMember SDST:PurchaseAgreementsMember 2025-04-24 2025-04-24 0001831979 2023-03-16 0001831979 us-gaap:StockOptionMember 2023-10-31 2023-10-31 0001831979 us-gaap:StockOptionMember 2023-11-30 2023-11-30 0001831979 2023-03-16 2023-12-31 0001831979 us-gaap:EmployeeStockOptionMember 2026-01-01 2026-06-30 0001831979 us-gaap:EmployeeStockOptionMember 2025-01-01 2025-06-30 0001831979 us-gaap:EmployeeStockOptionMember 2026-04-01 2026-06-30 0001831979 us-gaap:EmployeeStockOptionMember 2025-04-01 2025-06-30 0001831979 SDST:EmployeesMember 2026-06-30 0001831979 SDST:EmployeesMember 2026-01-01 2026-06-30 0001831979 us-gaap:RestrictedStockUnitsRSUMember 2026-01-01 2026-06-30 0001831979 us-gaap:RestrictedStockUnitsRSUMember 2025-01-01 2025-06-30 0001831979 us-gaap:RestrictedStockUnitsRSUMember 2026-04-01 2026-06-30 0001831979 us-gaap:RestrictedStockUnitsRSUMember 2025-04-01 2025-06-30 0001831979 SDST:EmployeesMember us-gaap:RestrictedStockUnitsRSUMember 2026-06-30 0001831979 SDST:EmployeesMember us-gaap:RestrictedStockUnitsRSUMember 2026-01-01 2026-06-30 0001831979 SDST:TwentyTwentyFourIncentivePlanMember 2024-09-30 0001831979 2026-03-13 2026-03-13 0001831979 us-gaap:CommonStockMember 2026-03-13 2026-03-13 0001831979 2026-06-02 0001831979 SDST:EmployeesMember us-gaap:RestrictedStockUnitsRSUMember us-gaap:ShareBasedCompensationAwardTrancheOneMember 2026-01-01 2026-06-30 0001831979 SDST:EmployeesMember us-gaap:RestrictedStockUnitsRSUMember us-gaap:ShareBasedCompensationAwardTrancheTwoMember 2026-01-01 2026-06-30 0001831979 SDST:ConsultantsMember us-gaap:RestrictedStockUnitsRSUMember us-gaap:ShareBasedCompensationAwardTrancheTwoMember 2026-01-01 2026-06-30 0001831979 us-gaap:RestrictedStockUnitsRSUMember SDST:TwentyTwentyFourEquityIncentivePlanMember 2026-01-01 2026-06-30 0001831979 us-gaap:RestrictedStockUnitsRSUMember SDST:TwentyTwentyFourEquityIncentivePlanMember 2025-01-01 2025-06-30 0001831979 us-gaap:RestrictedStockUnitsRSUMember SDST:TwentyTwentyFourEquityIncentivePlanMember 2026-04-01 2026-06-30 0001831979 us-gaap:RestrictedStockUnitsRSUMember SDST:TwentyTwentyFourEquityIncentivePlanMember 2025-04-01 2025-06-30 0001831979 SDST:EmployeesAndNonemployeeDirectorsMember SDST:TwentyTwentyFourEquityIncentivePlanMember 2026-06-30 0001831979 SDST:EmployeesAndNonemployeeDirectorsMember SDST:TwentyTwentyFourEquityIncentivePlanMember 2026-01-01 2026-06-30 0001831979 SDST:ConsultantMember SDST:TwentyTwentyFourEquityIncentivePlanMember 2026-06-30 0001831979 SDST:ConsultantMember SDST:TwentyTwentyFourEquityIncentivePlanMember 2026-01-01 2026-06-30 0001831979 us-gaap:PerformanceSharesMember SDST:TwentyTwentyFourEquityIncentivePlanMember 2026-01-01 2026-06-30 0001831979 us-gaap:PerformanceSharesMember SDST:TwentyTwentyFourEquityIncentivePlanMember 2025-01-01 2026-06-30 0001831979 us-gaap:PerformanceSharesMember SDST:TwentyTwentyFourEquityIncentivePlanMember 2026-04-01 2026-06-30 0001831979 us-gaap:PerformanceSharesMember SDST:TwentyTwentyFourEquityIncentivePlanMember 2025-04-01 2025-06-30 0001831979 us-gaap:PerformanceSharesMember SDST:TwentyTwentyFourEquityIncentivePlanMember 2026-06-30 0001831979 us-gaap:PerformanceSharesMember SDST:TwentyTwentyFourEquityIncentivePlanMember 2026-01-01 2026-06-30 0001831979 SDST:TwentyTwentyFourEquityIncentivePlanMember 2026-01-01 2026-06-30 0001831979 us-gaap:RestrictedStockUnitsRSUMember 2025-12-31 0001831979 us-gaap:RestrictedStockUnitsRSUMember 2026-06-30 0001831979 us-gaap:RestrictedStockUnitsRSUMember SDST:TwentyTwentyFourEquityIncentivePlanMember 2025-12-31 0001831979 us-gaap:RestrictedStockUnitsRSUMember SDST:TwentyTwentyFourEquityIncentivePlanMember 2026-06-30 0001831979 us-gaap:PerformanceSharesMember SDST:TwentyTwentyFourEquityIncentivePlanMember 2025-12-31 0001831979 us-gaap:PerformanceSharesMember SDST:TwentyTwentyFourEquityIncentivePlanMember 2026-06-30 0001831979 SDST:PublicWarrantsMember 2026-06-30 0001831979 SDST:PublicWarrantsMember 2025-12-31 0001831979 us-gaap:PrivatePlacementMember 2026-06-30 0001831979 us-gaap:PrivatePlacementMember 2025-12-31 0001831979 us-gaap:FairValueMeasurementsRecurringMember SDST:PublicWarrantsMember 2026-06-30 0001831979 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember SDST:PublicWarrantsMember 2026-06-30 0001831979 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember SDST:PublicWarrantsMember 2026-06-30 0001831979 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember SDST:PublicWarrantsMember 2026-06-30 0001831979 us-gaap:FairValueMeasurementsRecurringMember us-gaap:PrivatePlacementMember 2026-06-30 0001831979 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:PrivatePlacementMember 2026-06-30 0001831979 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:PrivatePlacementMember 2026-06-30 0001831979 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:PrivatePlacementMember 2026-06-30 0001831979 us-gaap:FairValueMeasurementsRecurringMember 2026-06-30 0001831979 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2026-06-30 0001831979 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2026-06-30 0001831979 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2026-06-30 0001831979 us-gaap:FairValueMeasurementsRecurringMember SDST:PublicWarrantsMember 2025-12-31 0001831979 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember SDST:PublicWarrantsMember 2025-12-31 0001831979 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember SDST:PublicWarrantsMember 2025-12-31 0001831979 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember SDST:PublicWarrantsMember 2025-12-31 0001831979 us-gaap:FairValueMeasurementsRecurringMember us-gaap:PrivatePlacementMember 2025-12-31 0001831979 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:PrivatePlacementMember 2025-12-31 0001831979 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:PrivatePlacementMember 2025-12-31 0001831979 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:PrivatePlacementMember 2025-12-31 0001831979 us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0001831979 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0001831979 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0001831979 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0001831979 SDST:QXResourcesLimitedMember 2023-10-31 0001831979 SDST:QXResourcesLimitedMember 2026-06-30 0001831979 SDST:QXResourcesLimitedMember 2025-12-31 0001831979 SDST:QXResourcesLimitedMember 2026-04-01 2026-06-30 0001831979 SDST:QXResourcesLimitedMember 2026-01-01 2026-06-30 0001831979 SDST:QXResourcesLimitedMember 2025-04-01 2025-06-30 0001831979 SDST:QXResourcesLimitedMember 2025-01-01 2025-06-30 0001831979 SDST:IRISMetalLimitedMember 2026-04-01 2026-06-30 0001831979 SDST:IRISMetalLimitedMember 2025-04-01 2025-06-30 0001831979 SDST:IRISMetalLimitedMember 2025-01-01 2025-06-30 0001831979 SDST:TwoThousandTwentyFiveConvertibleNoteMember SDST:SecuritiesPurchaseAgreementMember 2025-12-23 2025-12-23 0001831979 2025-12-23 0001831979 SDST:TwoThousandTwentyFiveConvertibleNoteMember 2025-12-23 0001831979 us-gaap:WarrantMember SDST:SecuritiesPurchaseAgreementMember 2025-12-23 0001831979 SDST:TwoThousandTwentyFiveConvertibleNoteMember SDST:SecuritiesPurchaseAgreementMember 2025-12-23 0001831979 SDST:TwoThousandTwentyFiveConvertibleNoteMember SDST:SecuritiesPurchaseAgreementMember 2025-12-31 0001831979 SDST:TwoThousandTwentyFiveConvertibleNoteMember 2025-12-31 0001831979 SDST:TwoThousandTwentyFiveConvertibleNoteMember 2026-06-30 0001831979 SDST:TwoThousandTwentyFiveConvertibleNoteMember 2025-12-01 2025-12-31 0001831979 SDST:TwoThousandTwentyFiveConvertibleNoteMember us-gaap:SubsequentEventMember 2026-08-11 2026-08-11 0001831979 SDST:TwoThousandTwentyFiveConvertibleNoteMember us-gaap:SubsequentEventMember 2026-08-11 0001831979 us-gaap:WarrantMember 2025-12-23 0001831979 us-gaap:WarrantMember 2026-01-01 2026-06-30 0001831979 us-gaap:MeasurementInputSharePriceMember 2025-12-23 0001831979 us-gaap:MeasurementInputExercisePriceMember 2025-12-23 0001831979 us-gaap:MeasurementInputRiskFreeInterestRateMember 2025-12-23 0001831979 us-gaap:MeasurementInputExpectedTermMember 2025-12-23 0001831979 us-gaap:MeasurementInputPriceVolatilityMember 2025-12-23 0001831979 us-gaap:MeasurementInputExpectedDividendRateMember 2025-12-23 0001831979 us-gaap:FairValueInputsLevel1Member 2025-12-31 0001831979 us-gaap:FairValueInputsLevel2Member 2025-12-31 0001831979 us-gaap:FairValueInputsLevel3Member 2025-12-31 0001831979 us-gaap:FairValueInputsLevel1Member 2026-06-30 0001831979 us-gaap:FairValueInputsLevel2Member 2026-06-30 0001831979 us-gaap:FairValueInputsLevel3Member 2026-06-30 0001831979 SDST:DREChicagoLLCMember 2025-01-01 2025-06-30 0001831979 SDST:DREChicagoLLCMember 2025-12-31 0001831979 us-gaap:ConvertibleDebtMember 2025-12-31 0001831979 SDST:EnduranceAntarcticaPartnersIILLCMember 2025-01-01 2025-06-30 0001831979 us-gaap:CommonStockMember SDST:EnduranceAntarcticaPartnersIILLCMember 2026-06-30 0001831979 SDST:ThreeRelatedPartyMember 2023-03-31 0001831979 SDST:EnergyTransitionInvestorsLLCMember 2025-06-30 0001831979 SDST:FinancingAgreementMember 2025-08-05 0001831979 SDST:FinancingAgreementMember 2026-06-30 0001831979 SDST:FinancingAgreementMember 2025-12-31 0001831979 SDST:FinancingAgreementMember 2026-04-01 2026-06-30 0001831979 SDST:FinancingAgreementMember 2026-01-01 2026-06-30 0001831979 SDST:AFCOInsurancePremiumFinanceMember 2025-04-01 2025-06-30 0001831979 SDST:AFCOInsurancePremiumFinanceMember 2025-01-01 2025-06-30 0001831979 SDST:AFCOInsurancePremiumFinanceMember us-gaap:SubsequentEventMember 2026-07-01 2026-08-12 0001831979 us-gaap:SubsequentEventMember 2026-07-01 2026-08-12 0001831979 us-gaap:SubsequentEventMember 2026-08-12 0001831979 us-gaap:BridgeLoanMember 2025-04-01 2025-06-30 0001831979 us-gaap:BridgeLoanMember 2025-01-01 2025-06-30 0001831979 SDST:InsuranceFundingLoanMember 2026-06-30 0001831979 SDST:InsuranceFundingLoanMember 2025-12-31 0001831979 SDST:SubleaseAgreementMember 2026-03-01 2026-03-01 0001831979 SDST:SubleaseAgreementMember 2026-03-01 0001831979 2026-05-01 2026-05-01 0001831979 SDST:IGXMineralsLLCMember 2024-08-19 0001831979 SDST:IGXMineralsLLCMember 2025-06-30 0001831979 SDST:IGXMineralsLLCMember 2025-01-01 2025-06-30 0001831979 SDST:IGXLOIMember 2025-03-15 2025-03-15 0001831979 SDST:IGXLOIMember 2025-05-14 2025-05-14 0001831979 SDST:IGXLOIMember 2025-01-01 2025-06-30 iso4217:USD shares iso4217:USD shares utr:T pure false Q2 --12-31 0001831979

10-Q true 2026-06-30 2026 false 001-39875 STARDUST POWER INC. DE 99-3863616 15 E. Putnam Ave Suite 378 Greenwich CT 06830 (800) 742-3095 Common Stock, par value $0.0001 per share SDST NASDAQ Redeemable warrants, with 10 warrants exercisable for one share of Common Stock at an exercise price of $115.00 SDSTW NASDAQ Yes Yes Non-accelerated Filer true true false false 14049388 0.0001

540264

3480151

264269

573834

104291

25000

908824

4078985

1782505

1757271

5484180 5354493

28802

37374

157444

692904

547169

9054659

11775292

8719997

8305096

4088736

4836999

925

1122

2029935

933022

90527

205403

14930120

14281642

1157818

1042036

4700 4700

1135780

2259984

66917

184

613

17295519

17588975

0.0001

100000000

0.0001

700000000

11628657

9869558

1152

975

69238158

62527926

-77480170

-68342584

-8240860

-5813683

9054659

11775292

3894683

3036347

7879584

8784994

-3894683

-3036347

-7879584

-8784994

4731

12010

331715

58092

697321

165933

86733 20697 313920 219120 528000

-551789

-472515

115782

-2171692

-14173 -738889 -8572 -728134 -95178 -95178 232481 232481

-127381

-122409

-8211

-668091

-1258002

1270856

-3902894

-3704438

-9137586

-7514138

-0.35

-0.59

-0.87

-1.29

-0.35

-0.59

-0.87

-1.29

11063807

6319817

10492494

5811684

11063807

6319817

10492494

5811684

422

58651

1-for-10 reverse stock split

9869558

975

62527926

-68342584

-5813683

-5234692

1510259

313 313

29067

97103

97106

67848 7 -7 1573032 1573032

9966473

985

65708626

-73577276

-7867665

9966473

985

65708626

-73577276

-7867665

-3902894

1270215

313 313

476799

1254295

1254343

79503

157439

157447

79503

157439

157447

660234 66 -66 65000 7 -7

380648

38 847343 847381

11628657

1152

69238158

-77480170

-8240860

11628657

1152

69238158

-77480170

-8240860

4773628

460

33232704

-52618948

-19385784

-3809700

1 360 361

2954279

398

16414

479200 48 4591021 4591069 479200 48 2798151 2798199

-24449

57071 6 -6

5765048

563

43592923

-56428648

-12835162

-3704438

313 313

1426400

16062

106134

106136

16062

106134

106136

173184 17 6199983 6200000 173184 17 6199983 6200000 12850 1 549999 550000 12850 1 549999 550000 15000 1 80611 80612 50000 5 342995 343000 50000 5 342995 343000 135340 14 -14 2260000 226 3945449 3945675

8427484

829

56244793

-60133086

-3887464

1-for-10 reverse stock split

-9137586

-7514138

2780474

4380679

151128

692710

53629 215443 95178 -8572 -728134

-122409

232481 25000 30000

115782

-2171692

-528000

2566

1536

15810

-12701

-239723

487156

128902

682807

-328696

15810

-4002652

-4490450

175644 2278760 16619

78311

18668

-194312

-2217068

1512480

122551

250000

2000000

205403

1808552

125000 50000 25000

10270400

2971040 1252152 1593

1257077

8401694

-2939887

1694176

3480151

912574

540264

2606750

40684

143565

2650

5150

112514 1698517 9132 1573032

173254

847381 57875 236235 623345 29000 2108480 6200000 550000 80612 343000

<p id="xdx_80F_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_z413BRLWY5ka" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">NOTE 1 – DESCRIPTION OF THE COMPANY Nature of Business Stardust Power Inc. (the “Company” or “Stardust Power”), formerly known as Global Partner Acquisition Corp II (“GPAC II”), a Delaware corporation, is an American developer of battery grade lithium products, designed to foster energy independence in the United States. While the Company has not earned any revenue yet, the Company is in the process of developing a strategically central, lithium refinery capable of producing up to 50,000 metric tons per annum of battery grade lithium.

50000

NOTE 2 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the unaudited condensed consolidated financial statements) considered necessary to present fairly the Company’s unaudited condensed consolidated balance sheet as of June 30, 2026, its unaudited condensed consolidated statements of operations and stockholders’ deficit for the three and six months ended June 30, 2026 and June 30, 2025, and its unaudited condensed consolidated statements of cash flows for the six months ended June 30, 2026 and June 30, 2025. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this report should be read in conjunction with the audited consolidated financial statements and notes thereto of Stardust Power for the year ended December 31, 2025 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 25, 2026 (the “Form 10-K”), which provides a more complete discussion of the Company’s accounting policies and certain other information. The accompanying condensed consolidated balance sheet as of December 31, 2025, has been derived from the audited consolidated balance sheet as of December 31, 2025, contained in the above referenced Form 10-K. The unaudited condensed consolidated financial statements include the accounts of Stardust Power Inc. and its wholly owned subsidiaries, Stardust Power LLC and Strike Merger Sub II, LLC. All material intercompany balances have been eliminated upon consolidation. Interim results are not necessarily indicative of results for a full year or any future periods. These unaudited condensed consolidated financial statements are presented in U.S. dollars. Use of Estimates The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the unaudited condensed consolidated financial statements and accompanying notes. Those estimates and assumptions include, but are not limited to, useful life of assets, realization of deferred tax assets, the incremental borrowing rate for determining operating lease assets and liabilities and fair valuation of stock-based compensation, common shares purchase agreement, warrants, convertible notes, and sponsor earnout shares. The Company evaluates estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ from these estimates, and those differences could be material to the unaudited condensed consolidated financial statements. Emerging Growth Company Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies, but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when an accounting standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Reverse Stock Split On September 8, 2025, the Company effected a 1-for-10 reverse stock split (the “Reverse Stock Split”) of the Company’s common stock, par value $0.0001 per share (“Common Stock”). As a result of the Reverse Stock Split, every 10 shares of the Company’s Common Stock issued and outstanding were automatically converted into one new share of Common Stock. Proportionate adjustments were also made to (i) the exercise prices, and the number of shares underlying the Company’s outstanding equity awards, as applicable, (ii) the number of shares issuable under the Company’s equity incentive plans and certain existing agreements, and (iii) the number of shares purchasable upon exercise, and/or the exercise prices, of the Company’s outstanding warrants to purchase shares of the Company’s Common Stock. The Reverse Stock Split did not decrease the number of authorized shares of Common Stock and preferred stock or otherwise affect the par value of the Common Stock. No fractional shares were issued in connection with the Reverse Stock Split and any fractional shares resulting from the Reverse Stock Split were rounded down to the nearest whole share. Stockholders who were otherwise entitled to receive fractional shares as a result of the Reverse Stock Split were paid cash in lieu thereof. All shares of the Company’s Common Stock, per-share data and related information included in the accompanying unaudited condensed consolidated financial statements have been retroactively adjusted as though the Reverse Stock Split had been effected prior to all periods presented. Going Concern The Company’s unaudited condensed consolidated financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of June 30, 2026, the Company has $540,264 of unrestricted cash. The Company is a development stage entity having no revenues and has incurred a net loss of $3,902,894 and $9,137,586 for the three and six months ended June 30, 2026, respectively. The Company has an accumulated deficit of $77,480,170 and stockholders’ deficit of $8,240,860 as of June 30, 2026. The Company expects to continue to incur significant costs in pursuit of its operating and investment plans. These costs exceed the Company’s existing cash balance and net working capital. These conditions raise substantial doubt about its ability to continue as a going concern. On December 23, 2025, the Company entered into a Securities Purchase Agreement (the “Lind Securities Purchase Agreement”) with Lind Global Asset Management XIII LLC (“Lind”) providing for up to $<span id="xdx_906_eus-gaap--ProceedsFromIssuanceOfLongTermDebt_c20251223__20251223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--RangeAxis__srt--MaximumMember_z6RsulhDY9B" title="Proceeds from issuance of long term debt">15,000,000 in senior secured convertible debt financing. Simultaneously, the Company initially drew down gross proceeds of $<span id="xdx_908_eus-gaap--ProceedsFromIssuanceOfOtherLongTermDebt_c20251223__20251223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zr8S95sv0mf3" title="Proceeds from issuance of other long term debt">4,000,000 in exchange for issuance to Lind of a Senior Secured Convertible Promissory Note in the amount of $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_c20251223__20251223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_z6NMmnWmizl3" title="Proceeds from issuance of secured debt">4,800,000 (the “2025 Convertible Note”) and a Common Stock Purchase Warrant (the “2025 Lind Warrant”), for the purchase of approximately 411,245 shares (the “Lind Warrant Shares”). After deducting a commitment fee of $100,000 and other transaction-related costs, the Company received net cash proceeds of $3,792,500 (See Note 8). On February 12, 2026, the Company entered into a Common Stock Purchase Agreement (the “B. Riley Purchase Agreement”) with B. Riley Principal Capital II, LLC (“B. Riley Principal Capital II”), the selling stockholder. Upon the terms and subject to the satisfaction of the conditions set forth in the B. Riley Purchase Agreement, the Company will have the right, in its sole discretion, to sell up to $10,000,000 of Common Stock to B. Riley Principal Capital II, subject to certain conditions and limitations contained in the B. Riley Purchase Agreement, from time to time during the term of the B. Riley Purchase Agreement. Sales of Common Stock pursuant to the B. Riley Purchase Agreement, and the timing of any sales, are solely at the option of the Company. The Company is under no obligation to sell any securities to B. Riley Principal Capital II under the B. Riley Purchase Agreement. As of the date of this filing, the Company has issued 505,866 shares of Common Stock aggregating to net proceeds of $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20260212__20260212__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zu3PMPsoFrQ1" title="Proceeds from issuance of public offering">1,310,904 under this arrangement (See Note 4). On May 8, 2026, the Company entered into an At Market Issuance Sales Agreement (the “Sales Agreement”) with B. Riley Securities, Inc. (the “Agent”). Pursuant to the terms of the Sales Agreement, the Company may sell from time to time through the Agent, shares of the Company’s common stock, par value $0.0001 per share (the “Placement Shares”), having an aggregate offering price of up to $5,000,000 (the “ATM Offering”). The Company intends to use this facility to raise capital as needed. As of the date of this filing, the Company has issued 2,159,867 Placement shares of Common Stock aggregating to net proceeds of $3,112,021 under this arrangement (See Note 4). Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) As of the date on which these unaudited condensed consolidated financial statements were available to be issued, the Company believes that the cash on hand, and additional investments available through issuance of new Common Stock, will be inadequate to satisfy the Company’s working capital and capital expenditure requirements for at least the next twelve months. The ability of the Company to continue as a going concern is dependent upon management’s plan to raise additional capital from issuance of equity or receive additional borrowings to fund the Company’s operating and investing activities over the next year. These unaudited condensed consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Summary of Significant Accounting Policies The significant accounting policies applied in the Company’s audited consolidated financial statements as of and for the year ended December 31, 2025, as disclosed in the Company’s Annual Report on Form 10-K filed with the SEC on March 25, 2026, are applied consistently in these unaudited interim condensed consolidated financial statements. Net Loss per Share The Company adopted Accounting Standard Codification (“ASC”) 260, “Earnings per Share”, at its inception. Basic net loss per share is calculated by dividing the net loss by the weighted average number of Common Stock outstanding for the period. Diluted loss per share is calculated by dividing the Company’s net loss available to common stockholders by the diluted weighted average number of shares outstanding for the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted as at the first of the year for any potentially dilutive debt or equity. Potential common stock from unvested restricted stock options, earnouts and common stock warrants are computed using the treasury stock method. Contingently issuable shares are included in basic EPS only when there is no circumstance under which those shares would not be issued. The following table sets forth the computation of the basic and diluted net loss per share: SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260401__20260630_zm2S74p5xDU9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250401__20250630_z23eq6f2plo8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20260101__20260630_zZQpUT2HgT97" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250630_zzgHeq4lLaxb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--NetIncomeLoss_zseUXPfVIYll" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">(3,902,894</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">(3,704,438</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">(9,137,586</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">(7,514,138</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Weighted average shares outstanding</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,063,807</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,319,817</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,492,494</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,811,684</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Net loss per share, basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.35</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.59</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.87</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1.29</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p id="xdx_895_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zIUIIKq2pnj9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following potentially dilutive shares were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented, because including them would have had an anti-dilutive effect: SCHEDULE OF ANTI-DILUTIVE EFFECT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20260101__20260630_zAgBlVrrs3S4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250630_zYIg5SVyuar1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--RestrictedStockOptionsMember_zHJYgWW0T6o7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%; text-align: left">Restricted Stock options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">16,923</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">36,195</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_z6R9mx3qec8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Restricted Stock Units</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">99,680</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">168,603</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--PerformanceSharesMember_zmN2QIgDrDXh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Performance Stock units</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,658</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,658</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SponsorEarnoutSharesMember_zHjU3Q8R9d04" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sponsor Earnout Shares (Note 4)*</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PublicWarrantsMember_zYdhDE01779a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Public warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">486,413</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">486,413</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PrivateWarrantsMember_zrQmX20MsnDe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Private warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">556,666</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">556,666</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--InducementWarrantsMember_zUBOjUmAx298" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Inducement warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">958,400</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ShortTermLoanWarrantsMember_zVzIOOdkqrr9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Short term loan warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">86,591</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">86,591</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PrivatePlacementWarrantsMember_zuEkfTNiI8pe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Private placement warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,425</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,425</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertibleNoteMember_zCDkqqp1Wfwi" style="vertical-align: bottom; background-color: White"> <td>2025 Convertible notes shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">698,989</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertibleNoteWarrantsMember_zxDqHaNMQU1d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2025 Convertible notes warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">411,245</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertibleNoteWarrantsMember_zrD5jWrJiEjb" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Potentially dilutive shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">411,245</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">*</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Sponsor Earnout Shares (as defined in the Business Combination Agreement) were not included for purposes of calculating the number of diluted shares outstanding as of June 30, 2026, as the Sponsor Earnout Shares remain contingently forfeitable, as the conditions have not been met.</td></tr> </table> Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Debt Issuance Costs Debt issuance costs consist of expenditures associated with obtaining debt financing, principally legal and commitment fees. Such costs are deferred and amortized over the term of the related credit arrangements using a method that approximates the effective interest method. Debt issuance costs are included in the unaudited condensed consolidated balance sheets as a direct deduction from the carrying amount of long-term debt and are included in Interest expense in the unaudited condensed consolidated statements of operations. The payment of debt issuance costs will be recorded under financing activities in the unaudited condensed consolidated statements of cash flows. Capital Project Costs and Property and Equipment, Net The Company capitalizes costs incurred in connection with the development and construction of its planned lithium refinery in Muskogee, Oklahoma (the “Facility”), in accordance with ASC 360, Property, Plant, and Equipment. Capitalized costs include expenditures that are directly attributable to the acquisition, development, and construction of the Facility, including land acquisition costs, permitting costs, engineering, front-end loading (“FEL”) studies, environmental studies, and other costs necessary to prepare the asset for its intended use. Costs incurred during the preliminary project stage that are not directly attributable to the construction of the Facility are expensed as incurred. Capitalization of project costs begins when activities necessary to prepare the asset for construction are in progress and it is probable that the project will be completed. Construction-in-progress assets are not depreciated until the underlying assets are placed into service, at which time depreciation commences over the estimated useful lives of the related assets. The construction of the Facility is still in progress and hence no depreciation is charged on capital project costs. Property and equipment, net is stated at cost less accumulated depreciation and accumulated impairment loss. The Company depreciates computer and equipment using the straight-line method over the estimated economic useful lives of the asset, which are generally three<span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MinimumMember_zF43C667o5d9" style="display: none" title="Property and equipment useful life">3 to <span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MaximumMember_z2f3K2yUyew9" title="Property and equipment useful life">five years. Land is a non-depreciable asset and is stated at cost. Impairment of Long-Lived Assets The Company evaluates long-lived assets for possible impairment whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of the asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount exceeds the fair value of the asset. Fair value is estimated at the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”), under its ASC or other standard setting bodies, and adopted by the Company as of the specified effective date. The Company has reviewed the accounting pronouncements issued during the six months ended June 30, 2026, and concluded they were either not applicable or not expected to have a material impact on the Company’s unaudited condensed consolidated financial statements. Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the unaudited condensed consolidated financial statements) considered necessary to present fairly the Company’s unaudited condensed consolidated balance sheet as of June 30, 2026, its unaudited condensed consolidated statements of operations and stockholders’ deficit for the three and six months ended June 30, 2026 and June 30, 2025, and its unaudited condensed consolidated statements of cash flows for the six months ended June 30, 2026 and June 30, 2025. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this report should be read in conjunction with the audited consolidated financial statements and notes thereto of Stardust Power for the year ended December 31, 2025 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 25, 2026 (the “Form 10-K”), which provides a more complete discussion of the Company’s accounting policies and certain other information. The accompanying condensed consolidated balance sheet as of December 31, 2025, has been derived from the audited consolidated balance sheet as of December 31, 2025, contained in the above referenced Form 10-K. The unaudited condensed consolidated financial statements include the accounts of Stardust Power Inc. and its wholly owned subsidiaries, Stardust Power LLC and Strike Merger Sub II, LLC. All material intercompany balances have been eliminated upon consolidation. Interim results are not necessarily indicative of results for a full year or any future periods. These unaudited condensed consolidated financial statements are presented in U.S. dollars.

Use of Estimates The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the unaudited condensed consolidated financial statements and accompanying notes. Those estimates and assumptions include, but are not limited to, useful life of assets, realization of deferred tax assets, the incremental borrowing rate for determining operating lease assets and liabilities and fair valuation of stock-based compensation, common shares purchase agreement, warrants, convertible notes, and sponsor earnout shares. The Company evaluates estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ from these estimates, and those differences could be material to the unaudited condensed consolidated financial statements.

Emerging Growth Company Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies, but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when an accounting standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Reverse Stock Split On September 8, 2025, the Company effected a 1-for-10 reverse stock split (the “Reverse Stock Split”) of the Company’s common stock, par value $0.0001 per share (“Common Stock”). As a result of the Reverse Stock Split, every 10 shares of the Company’s Common Stock issued and outstanding were automatically converted into one new share of Common Stock. Proportionate adjustments were also made to (i) the exercise prices, and the number of shares underlying the Company’s outstanding equity awards, as applicable, (ii) the number of shares issuable under the Company’s equity incentive plans and certain existing agreements, and (iii) the number of shares purchasable upon exercise, and/or the exercise prices, of the Company’s outstanding warrants to purchase shares of the Company’s Common Stock. The Reverse Stock Split did not decrease the number of authorized shares of Common Stock and preferred stock or otherwise affect the par value of the Common Stock. No fractional shares were issued in connection with the Reverse Stock Split and any fractional shares resulting from the Reverse Stock Split were rounded down to the nearest whole share. Stockholders who were otherwise entitled to receive fractional shares as a result of the Reverse Stock Split were paid cash in lieu thereof. All shares of the Company’s Common Stock, per-share data and related information included in the accompanying unaudited condensed consolidated financial statements have been retroactively adjusted as though the Reverse Stock Split had been effected prior to all periods presented.

1-for-10 reverse stock split

0.0001

Going Concern The Company’s unaudited condensed consolidated financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of June 30, 2026, the Company has $540,264 of unrestricted cash. The Company is a development stage entity having no revenues and has incurred a net loss of $3,902,894 and $9,137,586 for the three and six months ended June 30, 2026, respectively. The Company has an accumulated deficit of $77,480,170 and stockholders’ deficit of $8,240,860 as of June 30, 2026. The Company expects to continue to incur significant costs in pursuit of its operating and investment plans. These costs exceed the Company’s existing cash balance and net working capital. These conditions raise substantial doubt about its ability to continue as a going concern. On December 23, 2025, the Company entered into a Securities Purchase Agreement (the “Lind Securities Purchase Agreement”) with Lind Global Asset Management XIII LLC (“Lind”) providing for up to $<span id="xdx_906_eus-gaap--ProceedsFromIssuanceOfLongTermDebt_c20251223__20251223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--RangeAxis__srt--MaximumMember_z6RsulhDY9B" title="Proceeds from issuance of long term debt">15,000,000 in senior secured convertible debt financing. Simultaneously, the Company initially drew down gross proceeds of $<span id="xdx_908_eus-gaap--ProceedsFromIssuanceOfOtherLongTermDebt_c20251223__20251223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zr8S95sv0mf3" title="Proceeds from issuance of other long term debt">4,000,000 in exchange for issuance to Lind of a Senior Secured Convertible Promissory Note in the amount of $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_c20251223__20251223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_z6NMmnWmizl3" title="Proceeds from issuance of secured debt">4,800,000 (the “2025 Convertible Note”) and a Common Stock Purchase Warrant (the “2025 Lind Warrant”), for the purchase of approximately 411,245 shares (the “Lind Warrant Shares”). After deducting a commitment fee of $100,000 and other transaction-related costs, the Company received net cash proceeds of $3,792,500 (See Note 8). On February 12, 2026, the Company entered into a Common Stock Purchase Agreement (the “B. Riley Purchase Agreement”) with B. Riley Principal Capital II, LLC (“B. Riley Principal Capital II”), the selling stockholder. Upon the terms and subject to the satisfaction of the conditions set forth in the B. Riley Purchase Agreement, the Company will have the right, in its sole discretion, to sell up to $10,000,000 of Common Stock to B. Riley Principal Capital II, subject to certain conditions and limitations contained in the B. Riley Purchase Agreement, from time to time during the term of the B. Riley Purchase Agreement. Sales of Common Stock pursuant to the B. Riley Purchase Agreement, and the timing of any sales, are solely at the option of the Company. The Company is under no obligation to sell any securities to B. Riley Principal Capital II under the B. Riley Purchase Agreement. As of the date of this filing, the Company has issued 505,866 shares of Common Stock aggregating to net proceeds of $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20260212__20260212__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zu3PMPsoFrQ1" title="Proceeds from issuance of public offering">1,310,904 under this arrangement (See Note 4). On May 8, 2026, the Company entered into an At Market Issuance Sales Agreement (the “Sales Agreement”) with B. Riley Securities, Inc. (the “Agent”). Pursuant to the terms of the Sales Agreement, the Company may sell from time to time through the Agent, shares of the Company’s common stock, par value $0.0001 per share (the “Placement Shares”), having an aggregate offering price of up to $5,000,000 (the “ATM Offering”). The Company intends to use this facility to raise capital as needed. As of the date of this filing, the Company has issued 2,159,867 Placement shares of Common Stock aggregating to net proceeds of $3,112,021 under this arrangement (See Note 4). Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) As of the date on which these unaudited condensed consolidated financial statements were available to be issued, the Company believes that the cash on hand, and additional investments available through issuance of new Common Stock, will be inadequate to satisfy the Company’s working capital and capital expenditure requirements for at least the next twelve months. The ability of the Company to continue as a going concern is dependent upon management’s plan to raise additional capital from issuance of equity or receive additional borrowings to fund the Company’s operating and investing activities over the next year. These unaudited condensed consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Summary of Significant Accounting Policies The significant accounting policies applied in the Company’s audited consolidated financial statements as of and for the year ended December 31, 2025, as disclosed in the Company’s Annual Report on Form 10-K filed with the SEC on March 25, 2026, are applied consistently in these unaudited interim condensed consolidated financial statements.

540264

-3902894

-9137586

-77480170

-8240860

15000000

4000000

4800000

411245

100000

3792500

10000000

505866

1310904

0.0001

5000000

2159867

3112021

Net Loss per Share The Company adopted Accounting Standard Codification (“ASC”) 260, “Earnings per Share”, at its inception. Basic net loss per share is calculated by dividing the net loss by the weighted average number of Common Stock outstanding for the period. Diluted loss per share is calculated by dividing the Company’s net loss available to common stockholders by the diluted weighted average number of shares outstanding for the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted as at the first of the year for any potentially dilutive debt or equity. Potential common stock from unvested restricted stock options, earnouts and common stock warrants are computed using the treasury stock method. Contingently issuable shares are included in basic EPS only when there is no circumstance under which those shares would not be issued. The following table sets forth the computation of the basic and diluted net loss per share: SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260401__20260630_zm2S74p5xDU9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250401__20250630_z23eq6f2plo8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20260101__20260630_zZQpUT2HgT97" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250630_zzgHeq4lLaxb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--NetIncomeLoss_zseUXPfVIYll" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">(3,902,894</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">(3,704,438</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">(9,137,586</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">(7,514,138</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Weighted average shares outstanding</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,063,807</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,319,817</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,492,494</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,811,684</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Net loss per share, basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.35</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.59</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.87</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1.29</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p id="xdx_895_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zIUIIKq2pnj9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following potentially dilutive shares were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented, because including them would have had an anti-dilutive effect: SCHEDULE OF ANTI-DILUTIVE EFFECT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20260101__20260630_zAgBlVrrs3S4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250630_zYIg5SVyuar1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--RestrictedStockOptionsMember_zHJYgWW0T6o7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%; text-align: left">Restricted Stock options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">16,923</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">36,195</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_z6R9mx3qec8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Restricted Stock Units</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">99,680</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">168,603</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--PerformanceSharesMember_zmN2QIgDrDXh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Performance Stock units</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,658</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,658</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SponsorEarnoutSharesMember_zHjU3Q8R9d04" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sponsor Earnout Shares (Note 4)*</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PublicWarrantsMember_zYdhDE01779a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Public warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">486,413</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">486,413</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PrivateWarrantsMember_zrQmX20MsnDe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Private warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">556,666</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">556,666</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--InducementWarrantsMember_zUBOjUmAx298" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Inducement warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">958,400</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ShortTermLoanWarrantsMember_zVzIOOdkqrr9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Short term loan warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">86,591</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">86,591</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PrivatePlacementWarrantsMember_zuEkfTNiI8pe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Private placement warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,425</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,425</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertibleNoteMember_zCDkqqp1Wfwi" style="vertical-align: bottom; background-color: White"> <td>2025 Convertible notes shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">698,989</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertibleNoteWarrantsMember_zxDqHaNMQU1d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2025 Convertible notes warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">411,245</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertibleNoteWarrantsMember_zrD5jWrJiEjb" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Potentially dilutive shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">411,245</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">*</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Sponsor Earnout Shares (as defined in the Business Combination Agreement) were not included for purposes of calculating the number of diluted shares outstanding as of June 30, 2026, as the Sponsor Earnout Shares remain contingently forfeitable, as the conditions have not been met.</td></tr> </table> Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

The following table sets forth the computation of the basic and diluted net loss per share: SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260401__20260630_zm2S74p5xDU9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250401__20250630_z23eq6f2plo8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20260101__20260630_zZQpUT2HgT97" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250630_zzgHeq4lLaxb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--NetIncomeLoss_zseUXPfVIYll" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">(3,902,894</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">(3,704,438</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">(9,137,586</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">(7,514,138</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Weighted average shares outstanding</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,063,807</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,319,817</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,492,494</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,811,684</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Net loss per share, basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.35</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.59</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.87</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1.29</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

-3902894

-3704438

-9137586

-7514138

11063807

6319817

10492494

5811684

-0.35

-0.59

-0.87

-1.29

<p id="xdx_895_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zIUIIKq2pnj9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following potentially dilutive shares were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented, because including them would have had an anti-dilutive effect: SCHEDULE OF ANTI-DILUTIVE EFFECT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20260101__20260630_zAgBlVrrs3S4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250630_zYIg5SVyuar1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--RestrictedStockOptionsMember_zHJYgWW0T6o7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%; text-align: left">Restricted Stock options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">16,923</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">36,195</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_z6R9mx3qec8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Restricted Stock Units</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">99,680</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">168,603</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--PerformanceSharesMember_zmN2QIgDrDXh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Performance Stock units</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,658</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,658</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SponsorEarnoutSharesMember_zHjU3Q8R9d04" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sponsor Earnout Shares (Note 4)*</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PublicWarrantsMember_zYdhDE01779a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Public warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">486,413</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">486,413</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PrivateWarrantsMember_zrQmX20MsnDe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Private warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">556,666</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">556,666</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--InducementWarrantsMember_zUBOjUmAx298" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Inducement warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">958,400</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ShortTermLoanWarrantsMember_zVzIOOdkqrr9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Short term loan warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">86,591</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">86,591</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PrivatePlacementWarrantsMember_zuEkfTNiI8pe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Private placement warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,425</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,425</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertibleNoteMember_zCDkqqp1Wfwi" style="vertical-align: bottom; background-color: White"> <td>2025 Convertible notes shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">698,989</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertibleNoteWarrantsMember_zxDqHaNMQU1d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2025 Convertible notes warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">411,245</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertibleNoteWarrantsMember_zrD5jWrJiEjb" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Potentially dilutive shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">411,245</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">*</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Sponsor Earnout Shares (as defined in the Business Combination Agreement) were not included for purposes of calculating the number of diluted shares outstanding as of June 30, 2026, as the Sponsor Earnout Shares remain contingently forfeitable, as the conditions have not been met.</td></tr> </table>

16923

36195

99680

168603

50658

486413

556666

958400

86591

6425

698989

411245

Debt Issuance Costs Debt issuance costs consist of expenditures associated with obtaining debt financing, principally legal and commitment fees. Such costs are deferred and amortized over the term of the related credit arrangements using a method that approximates the effective interest method. Debt issuance costs are included in the unaudited condensed consolidated balance sheets as a direct deduction from the carrying amount of long-term debt and are included in Interest expense in the unaudited condensed consolidated statements of operations. The payment of debt issuance costs will be recorded under financing activities in the unaudited condensed consolidated statements of cash flows. Capital Project Costs and Property and Equipment, Net The Company capitalizes costs incurred in connection with the development and construction of its planned lithium refinery in Muskogee, Oklahoma (the “Facility”), in accordance with ASC 360, Property, Plant, and Equipment. Capitalized costs include expenditures that are directly attributable to the acquisition, development, and construction of the Facility, including land acquisition costs, permitting costs, engineering, front-end loading (“FEL”) studies, environmental studies, and other costs necessary to prepare the asset for its intended use. Costs incurred during the preliminary project stage that are not directly attributable to the construction of the Facility are expensed as incurred. Capitalization of project costs begins when activities necessary to prepare the asset for construction are in progress and it is probable that the project will be completed. Construction-in-progress assets are not depreciated until the underlying assets are placed into service, at which time depreciation commences over the estimated useful lives of the related assets. The construction of the Facility is still in progress and hence no depreciation is charged on capital project costs. Property and equipment, net is stated at cost less accumulated depreciation and accumulated impairment loss. The Company depreciates computer and equipment using the straight-line method over the estimated economic useful lives of the asset, which are generally three<span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MinimumMember_zF43C667o5d9" style="display: none" title="Property and equipment useful life">3 to <span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MaximumMember_z2f3K2yUyew9" title="Property and equipment useful life">five years. Land is a non-depreciable asset and is stated at cost.

P3Y

P5Y

Impairment of Long-Lived Assets The Company evaluates long-lived assets for possible impairment whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of the asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount exceeds the fair value of the asset. Fair value is estimated at the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”), under its ASC or other standard setting bodies, and adopted by the Company as of the specified effective date. The Company has reviewed the accounting pronouncements issued during the six months ended June 30, 2026, and concluded they were either not applicable or not expected to have a material impact on the Company’s unaudited condensed consolidated financial statements.

NOTE 3 - COMMITMENTS AND CONTINGENCIES Certain conditions may exist as at the date the unaudited condensed consolidated financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. The Company monitors the arrangements that are subject to guarantees in order to identify if the obligor who is responsible for making the payments fails to do so. If the Company determines it is probable that a loss has occurred, then any such estimable loss would be recognized under those guarantees. The methodology used to estimate potential loss related to guarantees considers the guarantee amount and a variety of factors, which include, depending on the counterparty, the latest financial position of the counterparty, actual defaults, historical defaults, and other economic conditions. Management does not believe, based upon information available at this time, that these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows. On February 7, 2025 (the “License Agreement Effective Date”), the Company executed an exclusive license agreement (the “License Agreement”) with KMX Technologies, Inc., a Delaware corporation (“KMX”). Under the terms of the License Agreement, KMX agreed to irrevocably license to the Company the use of KMX’s vacuum membrane distillation technology (“VMD Technology”) and associated processes and systems (including units incorporating the VMD Technology (“KMX VMD Units”)) for use in the Company’s refining and upstream operations. Among other obligations set forth in the License Agreement, the Company shall be required to exclusively purchase all KMX VMD Units from the Licensor during the term of the License Agreement on the terms and conditions set forth therein. On October 20, 2025, the Company entered into a non-binding letter agreement with Prairie Lithium Limited (“Prairie”), an Australia-based company, for the supply of <span id="xdx_900_ecustom--LithiumCarbonateEquivalentNumberOfUnits_iI_uTon_c20251020__dei--LegalEntityAxis__custom--PrairieLithiumLimitedMember_zyTh2LIjVDV1" title="Lithium carbonate equivalent number of units">6,000 metric tons per annum of lithium carbonate equivalent (“LCE”) in the form of lithium chloride. The lithium chloride is sourced from the Prairie Lithium Project in Saskatchewan, Canada and will be used as feedstock at the Facility. The initial contract term would span 6 years starting from the date on which the first commercial shipment is received by the Company, with the option for the Company to renew for two additional six-year terms. On October 31, 2025, the Company entered into a non-binding letter agreement with Mandrake Resources Limited (“Mandrake”), an Australia-based company, for the supply of <span id="xdx_907_ecustom--LithiumCarbonateEquivalentNumberOfUnits_iI_uTon_c20251031__dei--LegalEntityAxis__custom--MandrakeResourcesLimitedMember_zAIj1E65hGP" title="Lithium carbonate equivalent number of units">7,500 metric tons per annum of LCE in the form of lithium chloride. The initial contract term would span 12 years starting from the date on which first commercial shipment is received by the Company, with the option for the Company to renew for an additional six-year term. On March 13, 2026, the Company entered into a non-binding letter agreement with a strategic counterparty for the supply of <span id="xdx_90D_ecustom--LithiumCarbonateEquivalentNumberOfUnits_iI_uTon_c20260313__dei--LegalEntityAxis__custom--MandrakeResourcesLimitedMember_zvnWszTfYZUc" title="Lithium carbonate equivalent number of units">15,000 metric tons per annum of LCE in the form of lithium chloride. The initial contract term would span 12 years starting from the date on which first commercial shipment is received by the Company, with the option for the Company to renew for an additional six-year term. Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Legal Proceedings From time to time, the Company may be involved in certain legal and regulatory proceedings, as well as demands, investigations and claims that arise in the ordinary course of its business. The ultimate outcome of any litigation is often uncertain, and unfavorable outcomes could have a negative impact on the Company’s results of operations and financial condition. The Company makes a provision for a liability relating to legal matters when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed at least quarterly and adjusted to reflect the impact of negotiations, estimated settlements, legal rulings, advice of legal counsel and other information and events pertaining to a particular matter. In the Company’s opinion, resolution of any pending claims (either individually or in the aggregate) is not expected to have a material adverse impact on the Company’s consolidated results of operations, cash flows or financial position, nor is it possible to provide an estimated amount of any such loss. However, depending on the nature and timing of any such dispute, an unfavorable resolution of a matter could materially affect the Company’s future financial position, results of operations, or cash flows, or all in a particular period. On July 7, 2025, a complaint was filed in the Supreme Court of the State of New York, County of New York, captioned H.C. Wainwright & Co., LLC v. Stardust Power, Inc., Case No: 654037/2025. The complaint names the Company as a defendant, and alleges, among other things, that the Company breached an engagement agreement with the plaintiffs. The plaintiffs seek, among other things, payment of all purported unpaid sums due under such engagement agreement. On September 19, 2025, the Company filed its answer in response to the complaint, in which it denied all liability and asserted several affirmative defenses. The action is proceeding to the discovery stage and for further proceedings. The Company plans to vigorously defend against the lawsuit.

6000 P6Y 7500 P12Y 15000 P12Y

NOTE 4 – COMMON STOCK On July 8, 2024, the Common Stock and Public Warrants began trading on Nasdaq under the ticker symbols “SDST” and “SDSTW”, respectively. Each share of Common Stock is entitled to one vote. The holders of Common Stock are also entitled to receive dividends whenever funds are legally available and when declared by the board of directors (the “Board”), subject to prior rights of the convertible preferred stockholders. Shares of Common Stock issued and outstanding on the unaudited condensed consolidated balance sheet and unaudited condensed consolidated statement of stockholders’ deficit includes shares related to restricted stock that are subject to repurchase. The Company is authorized to issue 700,000,000 and 100,000,000 shares, par value of $0.0001 per share, of Common Stock and Preferred Stock, respectively. At June 30, 2026, the Company had 11,628,657 shares of Common Stock issued and outstanding. As of December 31, 2025, the Company had 9,869,558 shares of Common Stock issued and outstanding. Sponsor Earnout Shares As part of the closing of the Business Combination, the Company issued 100,000 shares to Global Partner Sponsor II, LLC (the “Sponsor”). These shares are subject to vesting (or forfeiture) based on achieving certain trading price thresholds following the closing (“Sponsor Earnout Shares”). Fifty percent of the Sponsor Earnout Shares will vest when the Volume-Weighted Average Price (“VWAP”) of the Common Stock price equals or exceeds $<span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20260630__dei--LegalEntityAxis__custom--GlobalPartnerSponsorIILLCMember_zLq2req9LCH9" title="Weighted average exercise price">120.00 per share for a period of 20 trading days in a 30 trading day period, and the remaining fifty percent of the Sponsor Earnout Shares will vest when the VWAP of the Common Stock price equals or exceeds $140.00 per share for a period of 20 trading days in a 30 trading day period. There are no service conditions or any requirement for the participants to provide goods or services in order to vest in the Sponsor Earnout Shares. Accordingly, the Company determined that the Sponsor Earnout Shares are not within the scope of ASC 718. The accounting for the Sponsor Earnout Shares was evaluated under ASC Topic 480, “Distinguishing Liabilities from Equity”, and ASC Subtopic 815-40, “Derivatives and Hedging — Contracts in Entity’s Own Equity” (“ASC 815-40”), to determine if the Sponsor Earnout Shares should be classified as a liability or within equity. As part of the analysis, it was determined that the Sponsor Earnout Shares subject to vesting are freestanding from other shares of Combined Company Common Stock held by the Sponsor and do not meet the criteria in ASC 815-40 to be considered indexed to the Combined Company Common Stock, due to the settlement provisions including a change in control component which could impact the number of the Sponsor Earnout Shares that are ultimately settled for, which is not an input to a fixed-for-fixed option pricing model. As a result, the Sponsor Earnout Shares were classified as a liability. Subsequent changes in the fair value of the Sponsor Earnout Shares will be reflected in the unaudited condensed consolidated statement of operations. Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Upon the occurrence of a change in control, any remaining unvested Sponsor Earnout Shares become vested. Unvested Sponsor Earnout Shares will be forfeited if vesting does not occur prior to the eighth anniversary of the Closing Date. The Company assesses the fair value of expected earnout consideration at each reporting period using the Monte Carlo Method, which is consistent with the initial measurement of the expected earnout consideration. As at June 30, 2026 and December 31, 2025, the Company did not identify any indicators that a change in the fair value of the Sponsor Earnout Shares last measured at $4,700 as of March 31, 2025, would be material, and accordingly did not perform an updated Monte Carlo valuation as of either date. Common Stock Purchase Agreement On October 7, 2024, the Company entered into a common stock purchase agreement and a related registration rights agreement with B. Riley Principal Capital II (the “Prior B. Riley Agreements”), pursuant to which the Company could have, at its sole discretion and subject to certain conditions and limitations (including 4.99% beneficial ownership limitation), sold up to the lesser of $50.0 million of its Common Stock or the applicable Exchange Cap (19.99% of the common shares outstanding immediately prior to execution of the Prior B. Riley Agreements) during the 36-month term of the Prior B. Riley Agreements. The purchase price of shares is based on the VWAP of the Company’s Common Stock on the applicable purchase date, less a fixed 3% discount. In connection with the Prior B. Riley Agreements, the Company issued 6,369 shares of Common Stock as commitment shares to B. Riley Principal Capital II with a grant date fair value of $<span id="xdx_90F_ecustom--GrantDateFairValueAmount_c20241007__20241007__us-gaap--TypeOfArrangementAxis__custom--PurchaseAndRegistrationRightsAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--BRileyMember__srt--RangeAxis__srt--MaximumMember_zLFDCoD3YSgh" title="Grant date fair value amount">500,000, which was recorded as a component of finance charges in the consolidated statements of operations for the year ended December 31, 2024. The Prior B. Riley Agreements also provided for a make-whole mechanism whereby, if B. Riley Principal Capital II’s aggregate resale proceeds from the commitment shares were less than $<span id="xdx_908_ecustom--SyntheticATMCommitmentFeeValue_c20241007__20241007__us-gaap--TypeOfArrangementAxis__custom--PurchaseAndRegistrationRightsAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--BRileyMember_zUx89kKDNgKl" title="Commitment">500,000, the Company would pay the shortfall in cash, and if the resale proceeds exceeded $<span id="xdx_901_ecustom--SyntheticATMCommitmentFeeValue_c20241007__20241007__us-gaap--TypeOfArrangementAxis__custom--PurchaseAndRegistrationRightsAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--BRileyMember__srt--RangeAxis__srt--MaximumMember_zCAo7TvHq6Oc" title="Commitment">500,000, B. Riley Principal Capital II would remit 50% of the excess to the Company. As of June 30, 2025, the fair market value of the commitment shares was $<span id="xdx_905_eus-gaap--OtherCommitment_iI_c20250630__us-gaap--TypeOfArrangementAxis__custom--PurchaseAndRegistrationRightsAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--BRileyMember_zxQQZNKdtP02">12,546, resulting in a make-whole obligation of $<span id="xdx_906_ecustom--LossFromChangeInFairValueOfCommonStockMakewholeObligation_c20250101__20250630__us-gaap--TypeOfArrangementAxis__custom--PurchaseAndRegistrationRightsAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--BRileyMember_z9BtXEtbqa0d">487,454. The change in the fair value of the make-whole obligation of $<span id="xdx_90C_ecustom--LossFromChangeInFairValueOfCommonStockMakewholeObligation_c20250401__20250630__us-gaap--TypeOfArrangementAxis__custom--PurchaseAndRegistrationRightsAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--BRileyMember_zDRoNlIk1Fd2">17,513 and $215,443 was recognized as a component of finance charges in the unaudited condensed consolidated statements of operations for the three and six months ended June 30, 2025, respectively. On December 11, 2025, the Company entered into a letter agreement with B. Riley Principal Capital II, pursuant to which the parties mutually agreed to terminate the Prior B. Riley Agreements. As part of the termination, the Company agreed to satisfy the make-whole payment as per the terms of the Prior B. Riley Agreements of $471,942, in three equal portions: (i) through the issuance of restricted Common Stock priced at $4.40 per share and subject to resale registration, (ii) in cash upon the Company’s next equity or convertible financing, and (iii) in connection with a future equity line, at-the-market program, or similar financing that the Company is currently working on with the Investor or its affiliate, or otherwise in cash if unpaid by September 30, 2026. On December 15, 2025, the Company issued 35,753 shares of Common Stock (“Settlement Shares”) to B. Riley Principal Capital II to satisfy one-third of the make-whole payment as per the terms of the Agreement. As of December 31, 2025, and June 30, 2026, the fair value of the Settlement Shares was $109,405 and $55,776, respectively, which was less than one-third of the make-whole obligation of $157,315. Accordingly, the Company recorded an accrual of $47,910 as of December 31, 2025, and an additional accrual of $53,629 for the six months ended June 30, 2026, representing the differential between the fair value of the Settlement Shares and one-third of the make-whole obligation. In January 2026, the Company made a cash payment of $157,314 to settle one-third of the make-whole obligation and in May 2026, the Company received an invoice for the remaining one-third of the make-whole obligation of $157,314 and made a cash payment of $75,000. As of December 31, 2025 and June 30, 2026, the total make-whole obligation balance was $362,538 and $101,539, respectively and is included in accrued expenses and other current liabilities in the accompanying condensed consolidated balance sheets. The change in the fair value of the make-whole obligation of $28,602 and $53,629 is recorded as a component of finance charges in the accompanying unaudited condensed consolidated statements of operations for the three and six months ended June 30, 2026. Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) On February 12, 2026, the Company entered into the B. Riley Agreements. Pursuant to the B. Riley Agreements, the Company has the right, in its sole discretion, to sell to B. Riley Principal Capital II, from time to time during the 36-month investment period, up to $10,000,000 of newly issued shares of Common Stock (the “Total Commitment”), subject to the Exchange Cap (as defined below) and other conditions and limitations set forth in the agreement. Under the applicable Nasdaq rules, and absent stockholder approval or satisfaction of an “at-market” exception, the Company may not issue to B. Riley Principal Capital II under the B. Riley Agreements more than 1,972,924 shares of Common Stock, which represents 19.99% of the Common Stock outstanding immediately prior to the execution of the B. Riley Agreements (the “Exchange Cap”). In addition, B. Riley Principal Capital II may not acquire shares under the B. Riley Agreements to the extent such issuances would result in B. Riley Principal Capital II and its affiliates beneficially owning more than 4.99% of Stardust’s outstanding common stock (the “Beneficial Ownership Limitation”), as determined under Section 13(d) of the Exchange Act and Rule 13d-3 thereunder. The Company evaluated the B. Riley Agreements to determine whether they should be accounted for considering the guidance in ASC 815-40 and concluded that it is an equity-linked contract that does not qualify for equity classification and therefore requires fair value accounting as a derivative. The Company has analyzed the terms of the freestanding purchased put right and has concluded that it had insignificant value as of June 30, 2026. The purchase price of the shares of Common Stock to be sold under the B. Riley Agreements, is determined by reference to the VWAP of the Common Stock over specified VWAP or Intraday VWAP Purchase Periods on the applicable purchase dates, less a fixed 3% discount to such VWAP, and subject to daily volume-based limits, the Exchange Cap, the Beneficial Ownership Limitation and a minimum Threshold Price condition with terms as defined in the B. Riley Agreements. In connection with entering into the B. Riley Agreements, the Company agreed to reimburse B. Riley Principal Capital II for certain fees and expenses, including (i) a Qualified Independent Underwriter (“QIU”) fee and initial legal fee reimbursements payable at or around Closing and Commencement (as defined in the B. Riley Agreements) and (ii) ongoing quarterly legal fee reimbursements for B. Riley Principal Capital II’s due-diligence and related matters. The Company also agreed that a fully earned, non-refundable Prior Transaction Cash Holdback Amount of $157,314, relating to a prior terminated transaction with B. Riley Principal Capital II, will be funded by allowing B. Riley Principal Capital II to withhold 10% of the gross purchase price on each VWAP or Intraday VWAP Purchase under the new facility until cumulative withholdings equal to $157,314. If the Company fails to pay in full this Prior Transaction Cash Holdback Amount on or before September 30, 2026, the Company will also be obligated to pay B. Riley Principal Capital II a one-time non-refundable commitment fee of up to $100,000, in accordance with the terms of the B. Riley Agreements. In May 2026, the Company received an invoice for the Holdback Amount of $157,314 and made a cash payment of $75,000. Other than shares that may be issued to B. Riley Principal Capital II under this facility, the Company has issued and may continue to issue additional shares of its Common Stock from time to time in separate transactions, which may result in further dilution to existing stockholders. During the three and six months ended June 30, 2026, the Company issued 476,799 and 505,866 shares of Common Stock aggregating to net proceeds of $<span id="xdx_900_eus-gaap--ProceedsFromIssuanceOfCommonStock_c20260401__20260630__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zZCLCOaPI2u9" title="Proceeds from issuance of common stock">1,216,711 and $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceOfCommonStock_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zQNybho7Fkh8" title="Proceeds from issuance of common stock">1,310,904, respectively. At-the-Market Issuance Sales Agreement On May 8, 2026, the Company entered into the Sales Agreement with the Agent, pursuant to which the Company may issue and sell the Placement Shares from time to time, in its sole discretion, through the ATM Offering, through or to the Agent acting as sales agent or principal. The ATM Offering is registered under the Company’s shelf registration statement on Form S-3 (File No. 333-294938), which has been declared effective by the SEC. The Company has filed a Prospectus Supplement specifically relating to the Placement Shares. The Company is not obligated to sell any shares under the Sales Agreement and may suspend or terminate the Sales Agreement at any time. The Company’s ability to raise capital through sales of Placement Shares under the Sales Agreement is subject to, among other things, the continued effectiveness of the shelf registration statement and related Prospectus Supplement and market conditions, including the trading price and trading volume of the Company’s common stock, and the Company may be unable to sell Placement Shares at times, or on terms, that are acceptable to the Company. Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Sales of the Placement Shares, if any, will be made by means of ordinary brokers’ transactions on the Nasdaq Capital Market or any other existing trading market for the Company’s common stock, in negotiated transactions, or by any other method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended. Under the terms of the Sales Agreement, the Agent may also purchase Placement Shares as principal for its own account at a price to be agreed upon at the time of sale. The Agent will be entitled to compensation under the terms of the Sales Agreement at a commission rate equal to up to <span id="xdx_90E_eus-gaap--SaleOfStockPercentageOfOwnershipAfterTransaction_pid_dp_uPure_c20260508__20260508__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember_zM6TQrtWb3uh" title="Sale of stock percentage">3.0% of the gross proceeds of the sales price of common stock that it sells as Agent and up to<span id="xdx_902_eus-gaap--SaleOfStockPercentageOfOwnershipAfterTransaction_pid_dp_uPure_c20260508__20260508__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember__srt--RangeAxis__srt--MaximumMember_zOxZuINFBLqb" title="Sale of stock percentage"> 5.0% of the gross proceeds of the sales price of common stock sold to the Agent as principal. In connection with entering into the Sales Agreement, the Company agreed to reimburse the Agent for certain fees and expenses, reasonable and documented legal, filing and other direct offering costs, including reimbursement of Agent counsel fees not to exceed $50,000 in connection with the execution of the Sales Agreement and $5,000 per calendar quarter thereafter for ongoing representation updates. During the three months ended June 30, 2026, the Company incurred legal and professional fees of $107,875 in connection with entering into the Sales Agreement, which was capitalized as deferred offering costs and will be allocated against proceeds as shares are sold. Of this amount $3,584 was allocated against proceeds as shares are sold during the three months ended June 30, 2026. The Company has evaluated the Sales Agreement and the Placement Shares issued thereunder in accordance with applicable accounting guidance. The Company determined that the Sales Agreement is not within the scope of ASC 480, Distinguishing Liabilities from Equity, as it does not embody an unconditional obligation to repurchase the Company’s equity shares, an obligation to settle by transferring assets, or an obligation to issue a variable number of shares for a fixed monetary amount. The Sales Agreement was further evaluated under ASC 815, Derivatives and Hedging, and ASC 815-40, Contracts in an Entity’s Own Equity. The Company concluded that the Sales Agreement is not a derivative instrument and does not contain any features that require bifurcation as embedded derivatives. The Sales Agreement is indexed to the Company’s own equity and satisfies all conditions for equity classification under ASC 815-40. Accordingly, the Placement Shares issued under the ATM Offering are classified as permanent equity in the accompanying condensed consolidated balance sheets, and no derivative liability has been recognized in connection with the Sales Agreement or the ATM Offering. During the three months ended June 30, 2026, the Company sold an aggregate of 79,503 shares of Common Stock at a weighted average price per share of $<span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20260630__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zZlLrQMi95Y5">2.09, aggregating to net proceeds of $161,032, after deducting commissions and other offering expenses. Subsequent to quarter end, the Company sold <span id="xdx_904_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20260701__20260813__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zYtGB1LEuWr4" title="Number of shares sold">2,080,364 shares of Common Stock aggregating to net proceeds of <span id="xdx_903_ecustom--NetProceedsFromSaleOfStockShares_c20260701__20260812__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zsI4aAmXC0Zi" title="Net proceeds of shares">2,950,989. The Company intends to use the net proceeds from sales of Placement Shares under the Sales Agreement for general corporate purposes, including working capital, capital expenditures, and advancement of its lithium refinery project in Muskogee, Oklahoma. In connection with the Company’s ATM offering program, the Company has agreed to indemnify the Agent against losses arising from material misstatements or omissions in the Registration Statement or Prospectus, excluding losses attributable to information furnished in writing by the Agent. If indemnification is unavailable, contribution will be allocated based on relative benefits received (Net Proceeds to the Company vs. commissions to the Agent), with the Agent’s contribution capped at total commissions received. These obligations survive termination of the sales agreement. As of June 30, 2026, no claims have been asserted, and the Company does not believe a loss is probable; accordingly, no liability has been accrued. Public Offering and Warrant Inducement During the six months ended June 30, 2025, the Company completed two public offerings generating gross proceeds of $5,750,400 (January 2025), approximately $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceOfWarrants_c20250401__20250630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zmv3yXk4NM0g">4,520,000 (June 2025, inclusive of a partially exercised over-allotment option) and a warrant inducement transaction generating gross proceeds of $2,971,040 (March 2025). No warrants issued in these transactions remain outstanding as of June 30, 2026. These transactions, and the October 2025 warrant exchange in which the Inducement Warrants were exchanged for shares and cancelled, are described in greater detail in Note 6 to the Company’s Form 10-K. KMX Licensing Agreement On February 7, 2025, the Company executed the License Agreement with KMX. Under the terms of the License Agreement, KMX agreed to irrevocably license to the Company the use of KMX’s VMD Technology and associated processes and systems (including KMX VMD Units) for the purpose of the Company’s use of the technology in its refining and upstream operations. Among other obligations set forth in the License Agreement, the Company shall be required to exclusively purchase all KMX VMD Units from KMX during the term of the License Agreement on the terms and conditions set forth therein. The License Agreement grants the Company the exclusive right to sublicense, use, market, sell and operate KMX’s VMD Technology across the United States, Canada and select international markets. As a consideration for this license, the Company agreed to pay KMX a royalty comprised of <span id="xdx_901_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20250207__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--TypeOfArrangementAxis__custom--KMXLicensingAgreementsMember_zcJfvyotepZ9" title="Shares reserved for future issuance">50,000 shares of the Company’s Common Stock. As of the License Agreement Effective Date, the license did not meet the recognition criteria for an intangible asset under U.S. GAAP, as it did not provide probable future economic benefits independent of the KMX VMD Units, which are expected to be acquired only upon the commencement of operations at the Company’s planned facility. Accordingly, the Company recognized $343,000 as other long-term assets on the audited and unaudited condensed consolidated balance sheets as of December 31, 2025 and June 30, 2026, respectively. Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Vendor shares issuance On October 30, 2025, the Company approved the issuance of <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20251030__20251030__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zI5z2bo37JD3" title="Common stock to vendor for services">65,000 shares of Common Stock to a vendor for services to be rendered over a period of 12 months. The shares fully vested upon issuance and will be expensed as services are received. The Company recognized consulting expense of $75,562 and $151,128 for the three and six months ended June 30, 2026, and a prepaid expense of $226,688 and $75,560 as of December 31, 2025 and June 30, 2026, respectively. The corresponding amounts were recorded as an increase to additional paid-in capital. During the quarter ended June 30, 2026, the Company issued the shares to the vendor. Private Placement Agreement On December 31, 2024, the Company entered into binding term sheets with certain investors (“2024 Investors”) pursuant to which the Company agreed to sell, and the 2024 Investors agreed to purchase, Company securities for an aggregate amount of $<span id="xdx_90D_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20240101__20241231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zGUAdXZGz6t5" title="Number of shares issued">550,000 (the “Private Placement”). The 2024 Investors agreed to purchase, and the Company agreed to issue and sell, up to $<span id="xdx_90D_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementsMember__srt--RangeAxis__srt--MaximumMember_zutXBP33DBVf">550,000 in shares of Common Stock at a price equal to 95% of the closing bid price of the Common Stock on the last trading day prior to the closing date for the Private Placement. In addition, each 2024 Investor will receive warrants representing the right, exercisable within five years of the closing date, to purchase up to 50% of the shares of Common Stock purchased by such 2024 Investor in the Private Placement, with 10 warrants exercisable for one share of Common Stock at an exercise price of $<span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20241231__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zJeALvg305V2" title="Warrants exercise price">115.00. The Company received proceeds of $<span id="xdx_90D_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PIPEInvestorMember_zkECDL7rHdYh">425,000 in December 2024 and additional proceeds of $<span id="xdx_903_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20250101__20250131__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PIPEInvestorMember_z8BowJsjoip6" title="Number of shares issued">125,000 in January 2025 from certain 2024 Investors. The Company had accounted for this transaction as Advance from PIPE investor for shares and warrants to be issued based on purchase agreement to be entered on the consolidated balance sheet as of December 31, 2024. On April 24, 2025, the Company issued <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250424__20250424__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z8ACUOz5F9o1">12,850 shares of Common Stock and <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250424__20250424__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zpns3Nzlhn67">64,251 Warrants to the investors.

700000000

100000000

0.0001

11628657

9869558

100000

120.00

140.00

4700

50000000.0

6369

500000 500000 500000

12546

487454 17513 215443 471942

4.40

35753

109405 55776 157315 47910 53629 157314 157314 75000 362538 101539 28602 53629

10000000

1972924

0.1999

157314

0.10

157314

100000 157314

75000

476799

505866

1216711

1310904

0.030

0.050

50000

5000

107875

3584

79503

2.09

161032

2080364

2950989

5750400

4520000

2971040

50000

343000

65000

75562 151128

226688

75560

550000

115.00

425000

125000

12850

64251

NOTE 5 – STOCK BASED COMPENSATION 2023 Equity Incentive Plan At March 16, 2023 (inception), the Legacy Stardust Power stockholders approved the 2023 Equity Incentive Plan, and 230,112 shares of the Company’s Common Stock were reserved for issuance thereunder. During the year ended December 31, 2024, the Board adopted a resolution to increase the number of shares of Common Stock authorized for issuance under the 2023 Equity Incentive Plan by <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zdEYcItwJvu6" title="Number of shares suthorized for issuance">115,056 shares of Common Stock. During the three and six months ended June 30, 2026, there were no grants under the 2023 Equity Incentive Plan. Stock Options During October and November 2023, Legacy Stardust Power granted stock options to purchase <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20231031__20231031__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--StockOptionMember_zsjnhT8OGnN5" title="Share based compensation, granted"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20231130__20231130__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--StockOptionMember_z85d2SkNeR0i" title="Share based compensation, granted">227,810 shares of Common Stock under the 2023 Equity Incentive Plan. All the options under the 2023 Equity Incentive Plan were early-exercised by grantees. Accordingly, the Company received a total amount of $14,850 towards the early exercise of these options during the period from March 16, 2023 (inception) through December 31, 2023, and recorded a liability against the early exercise of these options. The early exercised shares liability amounting to $1,109 and $1,735 is outstanding as at June 30, 2026, and December 31, 2025, respectively, and is presented under ‘Early exercised shares option liability’ on the unaudited condensed and audited consolidated balance sheets, respectively. <p id="xdx_89A_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_hus-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z97BGMzLk9X6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Stock option activity for the six months ended June 30, 2026, and balances as at the end of June 30, 2026, were as follows: SCHEDULE OF STOCK OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center">Stock Options</td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of options</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Grant-Date Fair Value</td><td style="text-align: center; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average remaining contractual life (Years) </td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Aggregate Intrinsic Value</td> <td style="padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; width: 36%; text-align: justify">Unvested as of December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20260101__20260630_zA7gmoBTFSte" style="width: 12%; text-align: right" title="Number of options, Unvested, Beginning balance">26,560</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20260101__20260630_zKZaIWWqv83a" style="width: 12%; text-align: right" title="Weighted Average Grant Date Fair Value, Unvested, Beginning balance">5.55</td><td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%"> </td> <td style="text-align: right; width: 12%"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_zmu3V8k8Z4Ri" title="Weighted average remaining contractual life (Years), Unvested">1.50</td> <td style="width: 1%"> </td> <td style="width: 2%"> </td> <td style="width: 1%">$</td> <td style="text-align: right; width: 12%"><p id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20260101__20260630_z508FyWF5vLg" style="margin: 0" title="Aggregate Intrinsic Value, Unvested, Beginning balance">79,548</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20260101__20260630_zR8VENOdrP07" style="text-align: right" title="Number of options, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20260101__20260630_zZIVfRCUPx36" style="text-align: right" title="Weighted Average Grant Date Fair Value, Granted">-</td><td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: justify">Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodGross_iN_di_c20260101__20260630_ztO6mL7UTomf" style="text-align: right" title="Number of options, Vested">(9,637</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsVestedInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20260101__20260630_zrVC36VQBACi" style="text-align: right" title="Weighted Average Grant Date Fair Value, Vested">5.23</td><td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20260101__20260630_zMKSuMTJRnu" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20260101__20260630_zDzEX8WkfV9k" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value, Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Unvested as of June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20260101__20260630_zo1J0kovNx37" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, Unvested, Ending balance">16,923</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20260101__20260630_zGqeIYYSVoeg" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value, Unvested, Ending balance">5.73</td><td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260630_zu4kQsouZnX4" title="Weighted average remaining contractual life (Years), Unvested">1.10</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right"><p id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_c20260101__20260630_zzh0MXKEky34" style="margin: 0" title="Aggregate Intrinsic Value, Unvested, Ending balance">25,300</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table> Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) The total compensation expense for stock options recognized in the General and administrative expenses of the Company’s unaudited condensed consolidated statements of operations was $50,171 and $50,826 for the six months ended June 30, 2026, and 2025, respectively. The total compensation expense for stock options recognized in the General and administrative expenses of the Company’s unaudited condensed consolidated statements of operations were $25,022 and $25,017 for the three months ended June 30, 2026, and 2025 respectively. As at June 30, 2026, total unvested compensation cost for stock options granted to employees not yet recognized was $<span id="xdx_90F_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_c20260630__srt--TitleOfIndividualAxis__custom--EmployeesMember_zhR4FU1gPvpk" title="Compensation not yet recognized">92,769. The Company expects to recognize this compensation over a weighted average period of approximately <span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260630__srt--TitleOfIndividualAxis__custom--EmployeesMember_ze8Jm1glhaC" title="Stock based compensation term">1.10 years. Restricted Stock Units <p id="xdx_898_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_hus-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zrjv4OMMKoj6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Restricted stock unit (“RSU”) activity for the six months ended June 30, 2026, and balances as at June 30, 2026, were as follows: SCHEDULE OF RESTRICTED STOCK ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of Shares</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Grant-Date Fair Value</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 68%; text-align: justify">Unvested as at December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmawD59LUM9b" style="width: 12%; text-align: right" title="Number of shares, Unvested, Beginning balance">54,561</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z4DVCnmGkN4h" style="width: 12%; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested, Beginning balance">87.10</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zn2GxkL7qQc3" style="text-align: right" title="Number of shares, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z5AhijT6h6i" style="text-align: right" title="Weighted Average Grant Date Fair Value - Unvested, Granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zQSZLigUvC43" style="text-align: right" title="Number of shares, Vested">(20,805</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zBaVXPmwxWGh" style="text-align: right" title="Weighted Average Grant Date Fair Value - Unvested, Vested">85.68</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Forfeited</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z0nwdOkxHaze" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares, Forfeited">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z5Y7ecrz2kEa" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested, Forfeited">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Unvested as at June 30, 2026</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zrMz1xkp3JV4" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, Unvested, Ending balance">33,756</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zWJZ5kfbod46" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested, Ending balance">87.98</td><td style="text-align: left"> </td></tr> </table> The total compensation expense for RSUs recognized in the General and administrative expenses of the Company’s unaudited condensed consolidated statements of operations was $826,865 and $2,392,528 for the six months ended June 30, 2026, and 2025, respectively. The total compensation expense for RSU recognized in the General and administrative expenses of the Company’s unaudited condensed consolidated statements of operations was $357,967 and $1,094,640 for the three months ended June 30, 2026, and 2025, respectively. The total fair value of RSU’s vested during six months ended June 30, 2026, was $<span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zo7uZ7QqwUmk" title="Fair value of restricted stock units vested">1,782,495. As at June 30, 2026, total unvested compensation cost for RSUs granted to employees not yet recognized was $<span id="xdx_90B_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_c20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--TitleOfIndividualAxis__custom--EmployeesMember_z6P3fM2kXE6j" title="Compensation not yet recognized">699,397. The Company expects to recognize this compensation over a weighted average period of approximately <span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--TitleOfIndividualAxis__custom--EmployeesMember_ztjVoVLJxWNh" title="Stock based compensation term">1.23 years. 2024 Equity Incentive Plan The Board adopted, and the stockholders of the Company approved, the 2024 Equity Incentive Plan (the “2024 Plan”) in September 2024. The maximum number of shares with respect to one or more awards that may be granted to any one participant during any calendar year shall be 467,366 shares of Common Stock. On March 13, 2026, the Company filed a Registration Statement on Form S-8 for the purpose of registering an additional (i) 732,159 shares of Common Stock that became issuable under the 2024 Plan pursuant to the provisions of the 2024 Plan providing for automatic increases in the number of shares reserved for issuance thereunder (the “Evergreen Shares”) and (ii) 82,000 shares of Common Stock that may again become available for issuance with respect to awards under the 2024 Plan pursuant to the share counting, share recycling and other terms and conditions of the 2024 Plan (the “Recycled Shares”). Additionally at the Annual Meeting on June 2, 2026, the Company’s stockholders approved an amendment and restatement of the Company’s 2024 Plan to increase the number of shares available for issuance under the 2024 Plan by 2,600,000 shares and extend the 2024 Plan’s term to April 8, 2036. Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) During the six months ended June 30, 2026, the Company granted (a) <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember__srt--TitleOfIndividualAxis__custom--EmployeesMember_zJfc1dtzsWlg">40,000 RSUs to employees, which vested immediately upon grant, (b) <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember__srt--TitleOfIndividualAxis__custom--EmployeesMember_z3Uqu2lEJiTe">620,362 RSUs to employees, which vested immediately upon grant and were issued in settlement of prior year bonuses and (c) <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember__srt--TitleOfIndividualAxis__custom--ConsultantsMember_zz5VVrha7tl" title="Number of shares vested">21,692 RSUs to consultants which vested immediately upon grant and were issued in settlement of prior year incentives. The fair value of common stock is based on the closing price of the Company’s Common Stock, as reported on Nasdaq on the date of grant. <p id="xdx_896_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_hus-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember_zjF3Q0njMkU8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">RSU activity for the six months ended June 30, 2026, and balances as at the end of June 30, 2026, were as follows: SCHEDULE OF RESTRICTED STOCK ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Grant-Date Fair Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 68%; text-align: justify">Unvested as at December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zPuELKUYBBE7" style="width: 12%; text-align: right" title="Number of shares, Unvested, Beginning balance">89,147</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zzKT2ciKAis9" style="width: 12%; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested, Beginning balance">53.62</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zxGik6fv6qK1" style="text-align: right" title="Number of shares, Granted">682,054</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z4I3W59ePWf4" style="text-align: right" title="Weighted Average Grant Date Fair Value - Granted">2.49</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zQIyw6qIlRZf" style="text-align: right" title="Number of shares, Vested">(705,277</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zBOxfvTv5dSl" style="text-align: right" title="Weighted Average Grant Date Fair Value - Vested">4.19</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zp92vJSfS6Vk" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares, Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zJ8VNyx3qCK4" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value - Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Unvested as at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zohOWTKN6198" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, Unvested, Ending balance">65,924</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zyheVR3m00O7" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested, Ending balance">53.48</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The total compensation expense for RSUs recognized in the General and administrative expenses of the Company’s unaudited condensed consolidated statements of operations was $<span id="xdx_900_eus-gaap--GeneralAndAdministrativeExpense_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zp1OULbbvvL4" title="General and administrative expenses">1,340,208 and $<span id="xdx_90F_eus-gaap--GeneralAndAdministrativeExpense_c20250101__20250630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zGATgQhcrrcf" title="General and administrative expenses">1,374,077 for the six months ended June 30, 2026, and 2025, respectively. The total compensation expense for RSUs recognized in the General and administrative expenses of the Company’s unaudited condensed consolidated statements of operations was $<span id="xdx_900_eus-gaap--GeneralAndAdministrativeExpense_c20260401__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z2WoBY4loRo1" title="General and administrative expenses">604,056 and $<span id="xdx_909_eus-gaap--GeneralAndAdministrativeExpense_c20250401__20250630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zYYZYkCFnFla" title="General and administrative expenses">23,564 for the three months ended June 30, 2026, and 2025, respectively. The total fair value of RSU’s vested during six months ended June 30, 2026, was $<span id="xdx_903_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z9Cx2qwCB161" title="Employee benefits and share based compensation">2,954,614. As at June 30, 2026, total unvested compensation cost for RSUs granted to employees and non-employee directors not yet recognized was $<span id="xdx_900_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_c20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__srt--TitleOfIndividualAxis__custom--EmployeesAndNonemployeeDirectorsMember_zyMwXVwQjE5b">2,936,598. The Company expects to recognize this compensation over a weighted average period of approximately <span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__srt--TitleOfIndividualAxis__custom--EmployeesAndNonemployeeDirectorsMember_zlopu9C3WEv9">2.27 years. As at June 30, 2026, total unvested compensation cost for RSUs granted to the consultants not yet recognized was $<span id="xdx_90C_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_c20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__srt--TitleOfIndividualAxis__custom--ConsultantMember_zIjyviQITjJ5">480,872. The Company expects to recognize this compensation over a period of approximately <span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__srt--TitleOfIndividualAxis__custom--ConsultantMember_zYXF2hhUlgrc">2.21 years. <p id="xdx_896_eus-gaap--ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock_hus-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember_zXI4D1aVqLf6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Performance stock unit (“PSU”) activity for the six months ended June 30, 2026, and balances as at the end of June 30, 2026, were as follows: SCHEDULE OF PERFORMANCE SHARES UNITS ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Grant-Date Fair Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 68%; text-align: justify">Unvested as at December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_z50QhJXNWtp6" style="width: 12%; text-align: right" title="Number of shares, Unvested, Beginning balance">50,658</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_ztspExKQS6V2" style="width: 12%; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested, Beginning balance">67.33</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zWOCjfjt9lvj" style="text-align: right" title="Number of shares, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zTEQ0dCKkAy" style="text-align: right" title="Weighted Average Grant Date Fair Value - Granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zyPvjlfLlu4b" style="text-align: right" title="Number of shares, Vested">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zJr98Plqazwj" style="text-align: right" title="Weighted Average Grant Date Fair Value - Vested">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zNJ7py9DBxd4" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares, Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zKHl7eUCqbnf" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value - Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Unvested as at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zzodn1HJxB6j" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, Unvested, Ending balance">50,658</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_z1ZZMuGI5u8f" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested, Ending balance">67.33</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) The total compensation expense for PSUs recognized in the General and administrative expenses of the Company’s unaudited condensed consolidated statements of operations was $<span id="xdx_909_eus-gaap--GeneralAndAdministrativeExpense_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zD6ErCqHUjh5" title="General and administrative expenses">563,230 and $<span id="xdx_90B_eus-gaap--GeneralAndAdministrativeExpense_c20250101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zTdMO8plMsO3" title="General and administrative expenses">563,248 for the six months ended June 30, 2026, and 2025, respectively. The total compensation expense for PSUs recognized in the General and administrative expenses of the Company’s unaudited condensed consolidated statements of operations was $<span id="xdx_900_eus-gaap--GeneralAndAdministrativeExpense_c20260401__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_z6Hcqie0YIhg" title="General and administrative expenses">283,170 and $<span id="xdx_904_eus-gaap--GeneralAndAdministrativeExpense_c20250401__20250630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zxf96m7YR2Of" title="General and administrative expenses">283,179 for the three months ended June 30, 2026, and 2025, respectively. As at June 30, 2026, total unvested compensation cost for PSUs granted to employees not yet recognized was $<span id="xdx_909_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_c20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__srt--TitleOfIndividualAxis__us-gaap--PerformanceSharesMember_zPrCowrWP4Pe" title="Compensation not yet recognized">1,378,621. The Company expects to recognize this compensation over a weighted average period of approximately <span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__srt--TitleOfIndividualAxis__us-gaap--PerformanceSharesMember_zTmccb0Nn9hj" title="Stock based compensation term">1.21 years.

230112

115056

227810

14850

1109 1735

<p id="xdx_89A_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_hus-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z97BGMzLk9X6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Stock option activity for the six months ended June 30, 2026, and balances as at the end of June 30, 2026, were as follows: SCHEDULE OF STOCK OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center">Stock Options</td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of options</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Grant-Date Fair Value</td><td style="text-align: center; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average remaining contractual life (Years) </td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Aggregate Intrinsic Value</td> <td style="padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; width: 36%; text-align: justify">Unvested as of December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20260101__20260630_zA7gmoBTFSte" style="width: 12%; text-align: right" title="Number of options, Unvested, Beginning balance">26,560</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20260101__20260630_zKZaIWWqv83a" style="width: 12%; text-align: right" title="Weighted Average Grant Date Fair Value, Unvested, Beginning balance">5.55</td><td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%"> </td> <td style="text-align: right; width: 12%"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_zmu3V8k8Z4Ri" title="Weighted average remaining contractual life (Years), Unvested">1.50</td> <td style="width: 1%"> </td> <td style="width: 2%"> </td> <td style="width: 1%">$</td> <td style="text-align: right; width: 12%"><p id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20260101__20260630_z508FyWF5vLg" style="margin: 0" title="Aggregate Intrinsic Value, Unvested, Beginning balance">79,548</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20260101__20260630_zR8VENOdrP07" style="text-align: right" title="Number of options, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20260101__20260630_zZIVfRCUPx36" style="text-align: right" title="Weighted Average Grant Date Fair Value, Granted">-</td><td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: justify">Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodGross_iN_di_c20260101__20260630_ztO6mL7UTomf" style="text-align: right" title="Number of options, Vested">(9,637</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsVestedInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20260101__20260630_zrVC36VQBACi" style="text-align: right" title="Weighted Average Grant Date Fair Value, Vested">5.23</td><td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20260101__20260630_zMKSuMTJRnu" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20260101__20260630_zDzEX8WkfV9k" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value, Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Unvested as of June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20260101__20260630_zo1J0kovNx37" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, Unvested, Ending balance">16,923</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20260101__20260630_zGqeIYYSVoeg" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value, Unvested, Ending balance">5.73</td><td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260630_zu4kQsouZnX4" title="Weighted average remaining contractual life (Years), Unvested">1.10</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right"><p id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_c20260101__20260630_zzh0MXKEky34" style="margin: 0" title="Aggregate Intrinsic Value, Unvested, Ending balance">25,300</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>

26560

5.55

P1Y6M

79548

9637 5.23

16923

5.73

P1Y1M6D

25300

50171

50826

25022

25017

92769

P1Y1M6D

<p id="xdx_898_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_hus-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zrjv4OMMKoj6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Restricted stock unit (“RSU”) activity for the six months ended June 30, 2026, and balances as at June 30, 2026, were as follows: SCHEDULE OF RESTRICTED STOCK ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of Shares</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Grant-Date Fair Value</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 68%; text-align: justify">Unvested as at December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmawD59LUM9b" style="width: 12%; text-align: right" title="Number of shares, Unvested, Beginning balance">54,561</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z4DVCnmGkN4h" style="width: 12%; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested, Beginning balance">87.10</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zn2GxkL7qQc3" style="text-align: right" title="Number of shares, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z5AhijT6h6i" style="text-align: right" title="Weighted Average Grant Date Fair Value - Unvested, Granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zQSZLigUvC43" style="text-align: right" title="Number of shares, Vested">(20,805</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zBaVXPmwxWGh" style="text-align: right" title="Weighted Average Grant Date Fair Value - Unvested, Vested">85.68</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Forfeited</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z0nwdOkxHaze" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares, Forfeited">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z5Y7ecrz2kEa" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested, Forfeited">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Unvested as at June 30, 2026</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zrMz1xkp3JV4" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, Unvested, Ending balance">33,756</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zWJZ5kfbod46" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested, Ending balance">87.98</td><td style="text-align: left"> </td></tr> </table>

54561

87.10

20805

85.68

33756

87.98

826865

2392528

357967

1094640

1782495

699397

P1Y2M23D

467366

732159

82000

2600000

40000

620362

21692

<p id="xdx_896_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_hus-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember_zjF3Q0njMkU8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">RSU activity for the six months ended June 30, 2026, and balances as at the end of June 30, 2026, were as follows: SCHEDULE OF RESTRICTED STOCK ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Grant-Date Fair Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 68%; text-align: justify">Unvested as at December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zPuELKUYBBE7" style="width: 12%; text-align: right" title="Number of shares, Unvested, Beginning balance">89,147</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zzKT2ciKAis9" style="width: 12%; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested, Beginning balance">53.62</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zxGik6fv6qK1" style="text-align: right" title="Number of shares, Granted">682,054</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z4I3W59ePWf4" style="text-align: right" title="Weighted Average Grant Date Fair Value - Granted">2.49</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zQIyw6qIlRZf" style="text-align: right" title="Number of shares, Vested">(705,277</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zBOxfvTv5dSl" style="text-align: right" title="Weighted Average Grant Date Fair Value - Vested">4.19</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zp92vJSfS6Vk" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares, Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zJ8VNyx3qCK4" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value - Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Unvested as at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zohOWTKN6198" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, Unvested, Ending balance">65,924</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zyheVR3m00O7" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested, Ending balance">53.48</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

89147

53.62

682054

2.49

705277

4.19

65924

53.48

1340208

1374077

604056

23564

2954614

2936598

P2Y3M7D

480872

P2Y2M15D

<p id="xdx_896_eus-gaap--ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock_hus-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember_zXI4D1aVqLf6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Performance stock unit (“PSU”) activity for the six months ended June 30, 2026, and balances as at the end of June 30, 2026, were as follows: SCHEDULE OF PERFORMANCE SHARES UNITS ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Grant-Date Fair Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 68%; text-align: justify">Unvested as at December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_z50QhJXNWtp6" style="width: 12%; text-align: right" title="Number of shares, Unvested, Beginning balance">50,658</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_ztspExKQS6V2" style="width: 12%; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested, Beginning balance">67.33</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: justify">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zWOCjfjt9lvj" style="text-align: right" title="Number of shares, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zTEQ0dCKkAy" style="text-align: right" title="Weighted Average Grant Date Fair Value - Granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: justify">Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zyPvjlfLlu4b" style="text-align: right" title="Number of shares, Vested">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zJr98Plqazwj" style="text-align: right" title="Weighted Average Grant Date Fair Value - Vested">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zNJ7py9DBxd4" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares, Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zKHl7eUCqbnf" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value - Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Unvested as at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zzodn1HJxB6j" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, Unvested, Ending balance">50,658</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwentyTwentyFourEquityIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_z1ZZMuGI5u8f" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested, Ending balance">67.33</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

50658

67.33

50658

67.33

563230

563248

283170

283179

1378621

P1Y2M15D

NOTE 6 – ACCOUNTING FOR WARRANT LIABILITY The Company’s Public Warrants and Private Warrants (together, the “Warrants”) were issued in connection with the Business Combination that closed on July 8, 2024, as described in the Company’s Form 10-K. Each 10 Warrants entitle the holder to purchase one share of Common Stock at an exercise price of $115.00 per share. As at June 30, 2026, and December 31, 2025, there were 10,430,800 warrants outstanding, including 4,864,133 Public Warrants and 5,566,667 Private Warrants outstanding. The Company may redeem the outstanding Public Warrants in whole and not in part at a price of $0.01 per warrant upon a minimum of 30 days’ prior written notice of redemption, only in the event that the last sale price of the Common Stock equals or exceeds $180.00 per share for any 20 trading days within the 30-trading day period ending on the third trading day before the Company sends the notice of redemption to the Public Warrant holders, and that certain other conditions are met. The Company may also redeem the outstanding Public Warrants in whole and not in part at a price of $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption, only in the event that the closing price of the common stock equals or exceeds $100.00 per share on the trading day prior to the date on which the Company sends the notice of redemption, and that certain other conditions are met. If the closing price of the common stock is less than $180.00 per share (as adjusted) for any 20 trading days within a 30-trading day period ending three trading days before the Company sends the notice of redemption to the warrant holders, the Private Warrants must also concurrently be called for redemption on the same terms as the outstanding Public Warrants. The Private Warrants have terms and provisions that are identical to those of the Public Warrants. However, the Private Warrants are not redeemable by the Company as long as they are held by the Sponsor or its permitted transferees. If the Private Warrants are held by holders other than the Sponsor or its permitted transferees, the Private Warrants will be redeemable by the Company in all redemption scenarios and exercisable by the holders on the same basis as the Public Warrants. The Company continues to classify the Warrants as derivative liabilities under ASC 815-40, consistent with the classification analysis described in the Company’s Form 10-K. The Warrants are remeasured at fair value each reporting period, with changes recognized in the condensed consolidated statements of operations. Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) The following tables present information about the Company’s warrant liabilities that are measured at fair value on a recurring basis at June 30, 2026, and December 31, 2025, and indicate the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: SCHEDULE OF WARRANT LIABILITIES THAT ARE MEASURED AT FAIR VALUE ON A RECURRING BASIS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify">Description</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zYPoMYZHynU8" style="border-bottom: Black 1pt solid; text-align: center">At June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zi7CyH2MiEH6" style="border-bottom: Black 1pt solid; text-align: center">Quoted Price In Active Markets (level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zbLzLINTG5se" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Observable Input (level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zlji7Je40iLg" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Unobservable Input (level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__custom--PublicWarrantsMember_ziIzsRJkBAT3" style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: justify; padding-left: 10pt">Public warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">539,918</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">539,918</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_za6Axr5CeSw1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Private warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">617,900</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">617,900</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> -</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--WarrantsAndRightsOutstanding_iI_zOAIbInGpbG6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt; padding-left: 10pt">Warrant liability</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,157,818</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">539,918</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">617,900</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify">Description</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zBg3V2MfJGn5" style="border-bottom: Black 1pt solid; text-align: center">At December 31, 2025 (audited)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z9PVJNK2M9pi" style="border-bottom: Black 1pt solid; text-align: center">Quoted Price In Active Markets (level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zwzfS8Cm6Nc2" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Observable Input (level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zbySVOjlk2oc" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Unobservable Input (level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__custom--PublicWarrantsMember_zDQkggKX8kbj" style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: justify; padding-left: 10pt">Public warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">485,926</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">485,926</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"> -</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zd5waPgGivD3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Private warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">556,110</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">556,110</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--WarrantsAndRightsOutstanding_iI_z9NLQ8prKDQ8" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt; padding-left: 10pt">Warrant liability</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,042,036</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">485,926</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">556,110</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> At June 30, 2026 and December 31, 2025, the Company valued its Public Warrants by reference to the publicly traded price of the Public Warrants. The Company valued its Private Warrants based on the closing price of the Public Warrants since they are similar instruments. The warrant liabilities are not subject to qualified hedge accounting. The Company’s policy is to record transfers between levels at the end of the reporting period. There were no transfers during the three and six months ended June 30, 2026.

115.00

10430800

4864133

5566667

The Company may redeem the outstanding Public Warrants in whole and not in part at a price of $0.01 per warrant upon a minimum of 30 days’ prior written notice of redemption, only in the event that the last sale price of the Common Stock equals or exceeds $180.00 per share for any 20 trading days within the 30-trading day period ending on the third trading day before the Company sends the notice of redemption to the Public Warrant holders, and that certain other conditions are met. The Company may also redeem the outstanding Public Warrants in whole and not in part at a price of $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption, only in the event that the closing price of the common stock equals or exceeds $100.00 per share on the trading day prior to the date on which the Company sends the notice of redemption, and that certain other conditions are met. If the closing price of the common stock is less than $180.00 per share (as adjusted) for any 20 trading days within a 30-trading day period ending three trading days before the Company sends the notice of redemption to the warrant holders, the Private Warrants must also concurrently be called for redemption on the same terms as the outstanding Public Warrants.

The following tables present information about the Company’s warrant liabilities that are measured at fair value on a recurring basis at June 30, 2026, and December 31, 2025, and indicate the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: SCHEDULE OF WARRANT LIABILITIES THAT ARE MEASURED AT FAIR VALUE ON A RECURRING BASIS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify">Description</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zYPoMYZHynU8" style="border-bottom: Black 1pt solid; text-align: center">At June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zi7CyH2MiEH6" style="border-bottom: Black 1pt solid; text-align: center">Quoted Price In Active Markets (level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zbLzLINTG5se" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Observable Input (level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zlji7Je40iLg" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Unobservable Input (level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__custom--PublicWarrantsMember_ziIzsRJkBAT3" style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: justify; padding-left: 10pt">Public warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">539,918</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">539,918</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_za6Axr5CeSw1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Private warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">617,900</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">617,900</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> -</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--WarrantsAndRightsOutstanding_iI_zOAIbInGpbG6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt; padding-left: 10pt">Warrant liability</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,157,818</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">539,918</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">617,900</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify">Description</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zBg3V2MfJGn5" style="border-bottom: Black 1pt solid; text-align: center">At December 31, 2025 (audited)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z9PVJNK2M9pi" style="border-bottom: Black 1pt solid; text-align: center">Quoted Price In Active Markets (level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zwzfS8Cm6Nc2" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Observable Input (level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zbySVOjlk2oc" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Unobservable Input (level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__custom--PublicWarrantsMember_zDQkggKX8kbj" style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: justify; padding-left: 10pt">Public warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">485,926</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">485,926</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"> -</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zd5waPgGivD3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Private warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">556,110</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">556,110</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--WarrantsAndRightsOutstanding_iI_z9NLQ8prKDQ8" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt; padding-left: 10pt">Warrant liability</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,042,036</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">485,926</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">556,110</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

539918

617900

1157818

539918

617900

485926

556110

1042036

485926

556110

NOTE 7 – INVESTMENT IN EQUITY SECURITIES In October 2023, Legacy Stardust Power subscribed to and purchased <span id="xdx_905_eus-gaap--InvestmentOwnedBalanceShares_iI_c20231031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--QXResourcesLimitedMember_zuMxjzZkfv5c" title="Investment owned">13,949,579 ordinary shares (<span id="xdx_901_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20231031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--QXResourcesLimitedMember_zsvaIJnT7MF2" title="Ownership percentage">1.26% of the total equity) of QX Resources Limited (“QXR”) for $200,000. QXR’s ordinary shares are listed on the ASX with a readily determinable fair value, and change in fair value is recognized in the unaudited condensed consolidated statement of operations. Accordingly, the investment in these securities has been recorded at cost at initial recognition and at fair value of $28,802 and $<span id="xdx_900_eus-gaap--InvestmentOwnedAtFairValue_iI_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--QXResourcesLimitedMember_zbvLGV0RWMWa" title="Investment owned, fair value">37,374 as at June 30, 2026, and December 31, 2025, respectively. The Company recognized a loss of $14,173 and $<span id="xdx_907_eus-gaap--PrincipalInvestmentGainsLosses_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--QXResourcesLimitedMember_zpDKerhq8AR" title="Principal investment gain (loss)">8,572 for the three and six months ended June 30, 2026, and $<span id="xdx_903_eus-gaap--PrincipalInvestmentGainsLosses_c20250401__20250630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--QXResourcesLimitedMember_zkCQerrw4qek" title="Principal investment gain (loss)">12,448 and $<span id="xdx_90C_eus-gaap--PrincipalInvestmentGainsLosses_c20250101__20250630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--QXResourcesLimitedMember_zT3YsqtWc4k5" title="Principal investment gain (loss)">16,479 for the three and six months ended June 30, 2025, respectively, due to change in fair value of securities in the unaudited condensed consolidated statement of operations. Further, this investment in securities has been disclosed outside of current assets on the unaudited condensed consolidated balance sheet in accordance with ASC 210-10-45-4 because the investment has been made for the purpose of affiliation and continuing business. The Company held an investment in IRIS Metals Limited (“IRIS Metals”), an ASX listed equity security which was fully divested during fiscal year 2025 and is described in the Company’s Form 10-K. During the three months ended June 30, 2025, the Company sold <span id="xdx_906_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20260401__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--IRISMetalLimitedMember_zp10zCqsDshh" title="Sale of stock">1,175,000 ordinary shares of IRIS Metals for total proceeds of $<span id="xdx_900_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20260401__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--IRISMetalLimitedMember_zVAQlYueVPS2" title="Proceeds from issuance or sale of equity">78,311. The carrying value of the shares at the time of sale was $173,489, resulting in a realized loss of $95,178. The remaining shares of IRIS Metals were subsequently sold during the second half of 2025. Accordingly, as of June 30, 2026, and December 31, 2025, the Company no longer held any investment in IRIS Metals and no gain or loss due to changes in the fair value of securities was recognized during the three and six months ended June 30, 2026. During the three and six months ended June 30, 2025, the Company recognized loss due to changes in the fair value of securities of $726,441 and $711,655, respectively. Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

13949579

0.0126

200000

28802

37374

14173

8572

12448

16479

1175000

78311

173489

-95178

726441

711655

NOTE 8 – CONVERTIBLE NOTES AND WARRANTS Lind 2025 Convertible Note On December 23, 2025, the Company entered into the Lind Securities Purchase Agreement with Lind providing for up to $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceOfLongTermDebt_c20251223__20251223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--RangeAxis__srt--MaximumMember_zpOc7PTKJsgf">15,000,000 in senior secured convertible debt financing. At closing, the Company received net cash proceeds of $<span id="xdx_906_eus-gaap--ProceedsFromDebtNetOfIssuanceCosts_c20251223__20251223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--RangeAxis__srt--MaximumMember_zaPzhzwlO7Y1">3,792,500 after payment of a $<span id="xdx_909_ecustom--CommitmentFee_c20251223__20251223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--RangeAxis__srt--MaximumMember_zrEgsDuP2V5b" title="Commitment fee">100,000 commitment fee and $107,500 in legal fees in exchange for issuing to Lind the 2025 Convertible Note with a principal amount of $4,800,000 and the 2025 Lind Warrant to purchase approximately 411,245 shares of the Company’s Common Stock. The 2025 Convertible Note does not bear a stated rate of interest. The principal is repayable in 20 consecutive monthly installments of $<span id="xdx_902_eus-gaap--DebtInstrumentPeriodicPaymentPrincipal_c20251223__20251223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFiveConvertibleNoteMember_zs10wziBeDeb" title="Principal amount monthly instalments">240,000 each, commencing 120 days after the issuance date. Each installment may be settled, at the Company’s election, either (i) in cash (subject to a 4% premium), (ii) shares of common stock (“Repayment Shares”), or (iii) a combination of cash and Repayment Shares. The number of Repayment Shares shall be equal to the principal portion paid in shares divided by the Repayment Share price, which is 90% of the average of five consecutive daily VWAPs selected by Lind during the 20 trading days prior to issuance. The 2025 Convertible Note is convertible at Lind’s option at a fixed conversion price of $5.837 per share, subject to customary anti-dilution adjustments and a floor price mechanism. Conversions are subject to a 4.99% beneficial ownership limitation (which may be increased to 9.99% under certain conditions). In addition, the total number of shares issuable upon conversion is subject to limitations under applicable stock exchange rules (including the 19.99% cap) unless stockholder approval is obtained. Any overdue amounts under the 2025 Convertible Note bear interest at 10% per annum, compounded annually on a 360-day year basis, from the due date until paid in full. All accrued and unpaid amounts, including interest on overdue interest, are payable on demand. The 2025 Convertible Note held by Lind is transferable and may be sold, assigned, or pledged, subject to compliance with applicable laws and regulations. The note may be prepaid in full by the Company upon 10 days’ prior written notice; however, upon any such prepayment notice, Lind may elect to convert up to one-third of the then-outstanding principal at the lower of (i) the applicable conversion price or (ii) the Repayment Share price. The 2025 Convertible Note includes customary provisions related to change-in-control events, delisting, and events of defaults, which may result in accelerated repayment or conversion at adjusted prices. Upon the occurrence of any of the aforementioned events, Lind may require cash repayment or elect alternative settlement provisions. The Company evaluated that the 2025 Convertible Note contains embedded features requiring recognition as derivatives and bifurcation. However, the Company determined the fair value of these embedded derivatives was immaterial as of December 31, 2025, and therefore measured the 2025 Convertible Note at amortized cost and recorded it as a liability on the consolidated balance sheet. Because the 2025 Convertible Note and related warrant were issued in a single financing transaction, the Company allocated the net proceeds to the 2025 Convertible Note and the warrants based on their relative fair values. A portion of the total debt issuance costs of $207,500 was allocated to the warrants based on their relative fair value, resulting in an allocation of $<span id="xdx_90A_eus-gaap--DeferredFinanceCostsGross_iI_c20251223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zBm1EPmtEmLd" title="Debt issuance costs">34,610 to the warrants and $<span id="xdx_904_eus-gaap--DeferredFinanceCostsGross_iI_c20251223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFiveConvertibleNoteMember_zv11gRz5yJFa" title="Debt issuance costs">172,890 to the 2025 Convertible Note. In total, $<span id="xdx_903_eus-gaap--DeferredFinanceCostsGross_iI_c20251223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zU2UGhLFJrbd">34,610 was recorded in additional paid-in capital (“APIC”) related to the warrants, and a debt discount and debt issuance costs of $<span id="xdx_900_eus-gaap--DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_iI_c20251231__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFiveConvertibleNoteMember_zBXHJZ4gM5H7" title="Debt discount and debt issuance costs">1,640,062 were recorded as a reduction of the carrying amount of the 2025 Convertible Note, representing the difference between the $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_iI_c20251231__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFiveConvertibleNoteMember_zfKjYb6ux6pd" title="Principal amount">4,800,000 principal amount and the amount allocated to the debt component at issuance. Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) As of December 31, 2025 and June 30, 2026, the principal amount outstanding under the 2025 Convertible Note was $4,800,000 and $4,080,000, respectively, and unamortized debt discount and issuance costs, including amount attributed to warrants issued, totaled $1,606,994 and $914,285, respectively, resulting in a net carrying amount of $3,193,006 and $3,165,715, respectively, at an effective interest rate of <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFiveConvertibleNoteMember_zq3Ac6Iclpq6" title="Interest rate">43.2%. For the three and six months ended June 30, 2026, the Company recognized $330,752 and $692,710 of interest expense related to the 2025 Convertible Note, representing amortization of debt discount and issuance cost. Such interest expense is included within interest expense in the Company’s unaudited condensed consolidated statement of operations for the three and six months ended June 30, 2026. During the three and six months ended June 30, 2026, the Company elected to repay the three scheduled monthly principal installments under the 2025 Convertible Note through the issuance of Repayment Shares. The number of shares issued for each installment was determined in accordance with the terms of the Lind Securities Purchase Agreement. Upon settlement, the Company recognized loss on extinguishment of 2025 Convertible Note of $127,381 for the three months ended June 30, 2026, in the unaudited condensed consolidated statement of operations reflecting the difference between the installment amount and the fair value of the Repayment Shares as of the date of issuance. The future contractual payments of 2025 Convertible Note as of June 30, 2026, are as follows: SCHEDULE OF FUTURE CONTRACTUAL PAYMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 60%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Year</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49C_20260630__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFiveConvertibleNoteMember_zn2jXaW6Pvg" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">As of June 30, 2026</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_409_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_maLTDzAIt_zbqR70eK6pO8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: center">Remainder of 2026</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 36%; text-align: right">1,497,600</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td></tr> <tr id="xdx_409_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_maLTDzAIt_znMgD9OrsDy4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">2027</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,745,600</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40E_eus-gaap--LongTermDebt_iTI_mtLTDzAIt_zlvE58wjHymd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Total </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">$4,243,200</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> </table> Under Section 2.1(s) of the 2025 Convertible Note issued to Lind in December 2025, an event of default occurs if the Company’s market capitalization remains below $15.0 million for ten consecutive trading days. Subsequent to the quarter end, this event of default occurred automatically and without any applicable cure period on August 11, 2026, (the “Triggering Event”). The Triggering Event did not result from any failure by the Company to make scheduled payments under the 2025 Convertible Note. <span id="xdx_901_eus-gaap--DebtDefaultLongtermDebtDescriptionOfNoticeOfDefault_c20260811__20260811__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFiveConvertibleNoteMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zYVJN8pbz2Wk" title="Debt repayment description">As a result of the Triggering Event, the Company, among other things, became obligated to pay the Mandatory Default Amount, equal to <span id="xdx_90D_ecustom--PercentageOfOutstandingPrincipal_pid_dp_uPure_c20260811__20260811__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFiveConvertibleNoteMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zVGIlk21n7ma" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Outstanding principal percentage">110% of the outstanding principal (approximately $<span id="xdx_90D_eus-gaap--DebtInstrumentCarryingAmount_iI_pn4n6_c20260811__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFiveConvertibleNoteMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z87Q8JCS4Tti" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Outstanding principal amount">4.22 million), plus all other amounts owing under the 2025 Convertible Note, with default interest accruing at a rate of <span id="xdx_900_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20260811__20260811__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFiveConvertibleNoteMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zm4Xq6VvL6Nb" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10% per annum. Lind may declare the Mandatory Default Amount immediately due and payable and exercise remedies as a secured creditor over substantially all of the assets of the Company and its subsidiaries, including the pledged equity interests. Lind may also convert outstanding principal into shares of Common Stock at a discounted conversion price. The Company and Lind are engaged in discussions regarding a potential forbearance, waiver, or amendment with respect to the Triggering Event; however, there can be no assurance that such discussions will result in a definitive agreement, or that any agreement will be reached on terms acceptable to the Company. As of the date these unaudited condensed consolidated financial statements were available to be issued, Lind had not accelerated the 2025 Convertible Note or exercised any remedies thereunder. Lind Common Stock Warrant: On December 23, 2025, in connection with the 2025 Convertible Note, the Company also issued to Lind a warrant to purchase up to 411,245 shares of Common Stock at an exercise price of $5.837 per share, exercisable beginning six months after issuance and expiring 60 months thereafter. These may be exercised for cash or, in limited circumstances when a resale registration statement is unavailable or in connection with certain fundamental transactions, on a net share (cashless) basis, in which case Lind receives a reduced number of shares based on the intrinsic value of the warrants. The warrants provide for standard protection in the event of major transactions (for example, the holder receives equivalent consideration, or, in some cases, cash based on Black-Scholes value) and include anti-dilution adjustments for stock splits, stock dividends, and certain issuances of stock below the then-current exercise price. The warrants are also subject to beneficial ownership limitations, are transferable subject to securities law compliance, and confer no voting or dividend rights until exercised. Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) The Company reviewed the warrants in connection with the securities purchase agreements under ASC 815, “Derivatives and Hedging,” (“ASC 815”) and concluded that the warrants are not in scope of ASC 480, “Distinguishing Liabilities from Equity,” and are not subject to the derivative guidance under ASC 815. Accordingly, the warrants were equity classified. The fair value of the warrants at the issuance date of $667,172 was determined using a Black-Scholes option pricing model, which includes the use of Level 3 inputs. The resulting fair value of the warrants was recorded in APIC, net of issuance costs, and is not subject to subsequent remeasurement. The Company estimates its stock price volatility using the historical volatility of publicly traded peer companies. The term is equal to the contractual term of the warrants. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve for the time period equal to the term of the warrants. The expected dividend yield is zero based on the fact that the Company has never paid cash dividends on Common Stock and does not expect to pay any cash dividends in the foreseeable future. Assumptions used in calculating the fair value of the warrants at the issuance date include the following: <p id="xdx_89D_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_hus-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z0rahtVJmjy7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">SCHEDULE OF FAIR VALUE ASSUMPTION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Assumptions</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: justify">Fair value of Common Stock as of December 23, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_903_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20251223__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zejg04B0rhtb" title="Measurement input">3.04</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Exercise Price</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20251223__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember_zEri1zyGAdD2" title="Measurement input">5.84</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Risk-free interest rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20251223__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zCgNrHLq9aq4" title="Measurement input">3.78</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Contractual terms (years)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Volatility</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20251223__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zIYOwIVnsWh1" title="Measurement input">75</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Dividend Yield</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20251223__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zpp1GD6gNmE4" title="Measurement input">0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> </table>

15000000

3792500

100000

107500

4800000

411245

240000

0.90

5.837

207500

34610

172890

34610

1640062

4800000

4080000

1606994

914285

3193006

3165715

0.432

330752

692710

-127381

The future contractual payments of 2025 Convertible Note as of June 30, 2026, are as follows: SCHEDULE OF FUTURE CONTRACTUAL PAYMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 60%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Year</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49C_20260630__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFiveConvertibleNoteMember_zn2jXaW6Pvg" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">As of June 30, 2026</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_409_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_maLTDzAIt_zbqR70eK6pO8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: center">Remainder of 2026</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 36%; text-align: right">1,497,600</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td></tr> <tr id="xdx_409_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_maLTDzAIt_znMgD9OrsDy4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">2027</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,745,600</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40E_eus-gaap--LongTermDebt_iTI_mtLTDzAIt_zlvE58wjHymd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Total </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">$4,243,200</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> </table>

1497600

2745600

4243200

15000000.0

As a result of the Triggering Event, the Company, among other things, became obligated to pay the Mandatory Default Amount, equal to

1.10

4220000

0.10

411245

5.837

667172

<p id="xdx_89D_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_hus-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z0rahtVJmjy7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">SCHEDULE OF FAIR VALUE ASSUMPTION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Assumptions</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: justify">Fair value of Common Stock as of December 23, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_903_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20251223__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zejg04B0rhtb" title="Measurement input">3.04</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Exercise Price</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20251223__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember_zEri1zyGAdD2" title="Measurement input">5.84</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Risk-free interest rate</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20251223__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zCgNrHLq9aq4" title="Measurement input">3.78</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Contractual terms (years)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5.5</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Volatility</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20251223__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zIYOwIVnsWh1" title="Measurement input">75</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Dividend Yield</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_uPure_c20251223__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zpp1GD6gNmE4" title="Measurement input">0</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> </table>

3.04

5.84

3.78

P5Y6M

NOTE 9 – FAIR VALUE MEASUREMENTS <p id="xdx_894_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_zQsF9YbP7tb8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following tables summarize the Company’s assets and liabilities that are measured at fair value in the condensed consolidated financial statements: SCHEDULE OF ASSETS AND LIABILITIES ARE MEASURED AT FAIR VALUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zmcNz05U6XP6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zLaiCkIpGCH6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zmP80vlrPFX4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231_zSOlmuXYro3l" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements as at December 31, 2025 (audited)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--AssetsFairValueDisclosureAbstract_iB_zhoPwqc0x222" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Other noncurrent assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right"> </td><td style="text-transform: uppercase; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--InvestmentsFairValueDisclosure_i01I_maAFVDzzA1_znONKcxP4K0h" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: justify; padding-bottom: 1pt">Investment in equity securities (a)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">37,374</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">37,374</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AssetsFairValueDisclosure_i01TI_mtAFVDzzA1_z8b8i9IRqGF4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total financial assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">37,374</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">37,374</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zYyECsoR2VE6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zUfeGY6t3PEa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zXPW6wQLg57" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260630_zlOke68AdoYd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements as at June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--AssetsFairValueDisclosureAbstract_iB_zFDMi3fmbcf6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Other noncurrent assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InvestmentsFairValueDisclosure_i01I_maAFVDzzA1_zyc3KM1BjGhb" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: justify; padding-bottom: 1pt">Investment in equity securities (a)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">28,802</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">28,802</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AssetsFairValueDisclosure_i01TI_mtAFVDzzA1_zgHuQlPHSfDe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total financial assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">28,802</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">28,802</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zxPPFxKAXmp" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zAwSFubK29o7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zdCD6u6mOgL5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_zDUOUKIVTU21" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements as at December 31, 2025 (audited)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--LiabilitiesFairValueDisclosureAbstract_iB_zLvpihyU6pKe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Liabilities</td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--SponsorEarnOutSharesFairValueDisclosure_i01I_maFLFVDzrzB_zL9foTSPBI38" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: justify; padding-bottom: 2.5pt">Sponsor earnout shares (b)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">4,700</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">4,700</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinancialLiabilitiesFairValueDisclosure_i01TI_mtFLFVDzrzB_zk1fBEAoDmi3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total financial liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zHP363ypauWc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_znNc6IjSija7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zYntpc8D4zI6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260630_zym12KYHwZjk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements as at June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--LiabilitiesFairValueDisclosureAbstract_iB_zSJaDCXApPjf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Liabilities</td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--SponsorEarnOutSharesFairValueDisclosure_i01I_maFLFVDzrzB_zqX4jhSgSc99" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: justify; padding-bottom: 2.5pt">Sponsor earnout shares (b)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">4,700</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">4,700</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FinancialLiabilitiesFairValueDisclosure_i01TI_mtFLFVDzrzB_zZdBvEZakoHj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total financial liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(a)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">These represent equity investments with a readily determinable fair value. The Company has measured its investments to fair value in accordance with ASC 321, “Investments-Equity Securities,” based on quoted prices in active markets.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(b)</td> <td style="font: 10pt Times New Roman, Times, Serif">For Level 3 earnout liability, the Company assesses the fair value of expected earnout liability at each reporting period using the Monte Carlo Method, which is consistent with the initial measurement of the expected earnout consideration. This fair value measurement is considered a Level 3 measurement because the Company estimates projections during the earnout period utilizing various potential pay-out scenarios. The Monte Carlo simulation method repeats a process thousands of times in an attempt to predict all the possible future outcomes. At the end of the simulation, several random trials produce a distribution of outcomes that are then analyzed to determine the average present value of the earnout. Change in the fair value of earnout liability is reflected in the unaudited condensed consolidated statements of operations. </td></tr> </table> The make-whole obligation liability related to the Prior B. Riley Purchase Agreement is measured at fair value categorized within Level 1 of the fair value hierarchy. See Note 4. Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

<p id="xdx_894_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_zQsF9YbP7tb8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following tables summarize the Company’s assets and liabilities that are measured at fair value in the condensed consolidated financial statements: SCHEDULE OF ASSETS AND LIABILITIES ARE MEASURED AT FAIR VALUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zmcNz05U6XP6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zLaiCkIpGCH6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zmP80vlrPFX4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231_zSOlmuXYro3l" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements as at December 31, 2025 (audited)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--AssetsFairValueDisclosureAbstract_iB_zhoPwqc0x222" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Other noncurrent assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right"> </td><td style="text-transform: uppercase; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--InvestmentsFairValueDisclosure_i01I_maAFVDzzA1_znONKcxP4K0h" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: justify; padding-bottom: 1pt">Investment in equity securities (a)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">37,374</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">37,374</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AssetsFairValueDisclosure_i01TI_mtAFVDzzA1_z8b8i9IRqGF4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total financial assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">37,374</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">37,374</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zYyECsoR2VE6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zUfeGY6t3PEa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zXPW6wQLg57" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260630_zlOke68AdoYd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements as at June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--AssetsFairValueDisclosureAbstract_iB_zFDMi3fmbcf6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Other noncurrent assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InvestmentsFairValueDisclosure_i01I_maAFVDzzA1_zyc3KM1BjGhb" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: justify; padding-bottom: 1pt">Investment in equity securities (a)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">28,802</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">28,802</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AssetsFairValueDisclosure_i01TI_mtAFVDzzA1_zgHuQlPHSfDe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total financial assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">28,802</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">28,802</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zxPPFxKAXmp" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zAwSFubK29o7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zdCD6u6mOgL5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_zDUOUKIVTU21" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements as at December 31, 2025 (audited)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--LiabilitiesFairValueDisclosureAbstract_iB_zLvpihyU6pKe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Liabilities</td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--SponsorEarnOutSharesFairValueDisclosure_i01I_maFLFVDzrzB_zL9foTSPBI38" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: justify; padding-bottom: 2.5pt">Sponsor earnout shares (b)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">4,700</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">4,700</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinancialLiabilitiesFairValueDisclosure_i01TI_mtFLFVDzrzB_zk1fBEAoDmi3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total financial liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zHP363ypauWc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_znNc6IjSija7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zYntpc8D4zI6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260630_zym12KYHwZjk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements as at June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--LiabilitiesFairValueDisclosureAbstract_iB_zSJaDCXApPjf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Liabilities</td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--SponsorEarnOutSharesFairValueDisclosure_i01I_maFLFVDzrzB_zqX4jhSgSc99" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: justify; padding-bottom: 2.5pt">Sponsor earnout shares (b)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">4,700</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">4,700</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FinancialLiabilitiesFairValueDisclosure_i01TI_mtFLFVDzrzB_zZdBvEZakoHj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total financial liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(a)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">These represent equity investments with a readily determinable fair value. The Company has measured its investments to fair value in accordance with ASC 321, “Investments-Equity Securities,” based on quoted prices in active markets.</td></tr> </table> (b)For Level 3 earnout liability, the Company assesses the fair value of expected earnout liability at each reporting period using the Monte Carlo Method, which is consistent with the initial measurement of the expected earnout consideration. This fair value measurement is considered a Level 3 measurement because the Company estimates projections during the earnout period utilizing various potential pay-out scenarios. The Monte Carlo simulation method repeats a process thousands of times in an attempt to predict all the possible future outcomes. At the end of the simulation, several random trials produce a distribution of outcomes that are then analyzed to determine the average present value of the earnout. Change in the fair value of earnout liability is reflected in the unaudited condensed consolidated statements of operations.

37374

28802

4700 4700

4700

4700 4700

4700

NOTE 10 – SEGMENT REPORTING The Company reports segment information in the same way management internally organizes the business in assessing performance and making decisions regarding allocation of resources in accordance with ASC 280, “Segment Reporting”. The Company has a single reportable operating segment which operates as a single business platform. In reaching this conclusion, management considered the definition of the Chief Operating Decision Maker (“CODM”), how the business is defined by the CODM, the nature of the information provided to the CODM, how the CODM uses such information to make operating decisions, and how resources and performance are assessed. The Company’s CODM is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company has a single, common management team and the Company’s cash flows are reported and reviewed with no distinct cash flows. The measure of segment assets is reported on the unaudited condensed consolidated balance sheets as total consolidated assets. All of the Company’s long-lived assets are located in the United States. <p id="xdx_897_eus-gaap--ReconciliationOfOtherSignificantReconcilingItemsFromSegmentsToConsolidatedTextBlock_zCBCNyGjLboa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">In addition to the significant expense categories included within net loss presented on the Company’s unaudited condensed consolidated statements of operations, see below for disaggregated amounts that comprise general and administrative expenses. SCHEDULE OF SEGMENT REPORTING CONSOLIDATED STATEMENTS OF OPERATIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260401__20260630_zh3kf2hdNvPj" style="border-bottom: Black 1pt solid; display: none; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250401__20250630_zsWunIcUW7Wj" style="border-bottom: Black 1pt solid; display: none; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260101__20260630_zpTbrhjB25Ra" style="border-bottom: Black 1pt solid; display: none; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250101__20250630_zSSnB1E1yN3h" style="border-bottom: Black 1pt solid; display: none; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three months ended</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Six months ended</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40B_ecustom--PayrollAndRelatedTaxes_maGAAEzM6N_zH8lLbKdij3g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: justify">Payroll and related taxes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">2,698,065</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">3,207,013</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">5,466,803</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">6,763,660</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ProfessionalAndConsultingFees_maGAAEzM6N_zGofORhUFfh9" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Professional and consulting fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">428,324</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(885,117</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">899,947</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">337,557</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LegalFees_maGAAEzM6N_zjVM7KoX02Q5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Legal fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">235,069</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">266,727</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">423,870</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">479,662</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InsuranceTax_maGAAEzM6N_zZPpTbAiLBMc" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Insurance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">124,927</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">146,418</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">246,196</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">291,456</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OtherGeneralAndAdministrativeExpense_maGAAEzM6N_zBWR592uzcHd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">408,298</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">301,306</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">842,768</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">912,659</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--GeneralAndAdministrativeExpense_iT_mtGAAEzM6N_zVKwNbM83xD8" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3,894,683</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3,036,347</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,879,584</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,784,994</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<p id="xdx_897_eus-gaap--ReconciliationOfOtherSignificantReconcilingItemsFromSegmentsToConsolidatedTextBlock_zCBCNyGjLboa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">In addition to the significant expense categories included within net loss presented on the Company’s unaudited condensed consolidated statements of operations, see below for disaggregated amounts that comprise general and administrative expenses. SCHEDULE OF SEGMENT REPORTING CONSOLIDATED STATEMENTS OF OPERATIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260401__20260630_zh3kf2hdNvPj" style="border-bottom: Black 1pt solid; display: none; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250401__20250630_zsWunIcUW7Wj" style="border-bottom: Black 1pt solid; display: none; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260101__20260630_zpTbrhjB25Ra" style="border-bottom: Black 1pt solid; display: none; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250101__20250630_zSSnB1E1yN3h" style="border-bottom: Black 1pt solid; display: none; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three months ended</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Six months ended</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40B_ecustom--PayrollAndRelatedTaxes_maGAAEzM6N_zH8lLbKdij3g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: justify">Payroll and related taxes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">2,698,065</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">3,207,013</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">5,466,803</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">6,763,660</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ProfessionalAndConsultingFees_maGAAEzM6N_zGofORhUFfh9" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Professional and consulting fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">428,324</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(885,117</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">899,947</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">337,557</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LegalFees_maGAAEzM6N_zjVM7KoX02Q5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Legal fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">235,069</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">266,727</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">423,870</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">479,662</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InsuranceTax_maGAAEzM6N_zZPpTbAiLBMc" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Insurance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">124,927</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">146,418</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">246,196</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">291,456</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OtherGeneralAndAdministrativeExpense_maGAAEzM6N_zBWR592uzcHd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">408,298</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">301,306</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">842,768</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">912,659</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--GeneralAndAdministrativeExpense_iT_mtGAAEzM6N_zVKwNbM83xD8" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3,894,683</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3,036,347</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,879,584</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,784,994</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2698065 3207013 5466803 6763660 428324 -885117 899947 337557

235069

266727

423870

479662

124927

146418

246196

291456

408298

301306

842768

912659

3894683

3036347

7879584

8784994

NOTE 11 – RELATED PARTY TRANSACTIONS The Company previously entered into a consulting agreement and loan arrangement with DRE Chicago LLC (“DRE Chicago”), whose principal, Paramita Das, was the Company’s former Chief Strategy Officer and Senior Advisor to the Chief Executive Officer as described in the Company’s Form 10-K. The Company recognized interest expense of $7,187 during the six months ended June 30, 2025. The loan was fully repaid, together with accrued interest, as of December 31, 2025, and 52,374 warrants, remain outstanding. DRE Chicago’s loan was entered into as part of a larger $1,800,000 Term Sheets facility with several lenders, which was fully repaid, together with accrued interest, as of December 31, 2025. Ms. Das terminated her employment with the Company in November 2025 and is no longer considered a related party as of June 30, 2026. The Company previously entered into a loan arrangement with Endurance Antarctica Partners II, LLC (“Endurance”), an affiliate of a director at the time and a shareholder, as described in the Company’s Form 10-K. The Company recognized interest expense of $51,042 during the six months ended June 30, 2025. The loan was fully repaid, together with accrued interest, as of December 31, 2025, and <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__dei--LegalEntityAxis__custom--EnduranceAntarcticaPartnersIILLCMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z2Q8I7Pq8IY5">488,826 warrants, remain outstanding. As of the date of this quarterly report, the Endurance-affiliated individual is no longer a member of our board of directors. Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) In March 2023, the Company entered into unsecured notes payable with three related parties. These notes payable provided the Company the ability to draw up to $1,000,000, in aggregate. In June 2025, the Company drew $250,000 from Energy Transition Investors LLC, and subsequently repaid the drawn amount by quarter end. The Company had accrued interest of $422 during the six months ended June 30, 2025 on the drawn amount and subsequently paid the interest in January 2026.

7187

52374

1800000

51042

488826

1000000

250000

422

<p id="xdx_808_eus-gaap--AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock_zmzk0KHzwHV4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">NOTE 12 - ACCRUED LIABILITIES AND OTHER CURRENT LIABILITIES: SCHEDULE OF ACCRUED LIABILITIES AND OTHER CURRENT LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260630_zewaTqVEBLAl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_zUGDQSOTHG85" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025 (audited)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedLiabilitiesCurrent_iI_maAPAOAzedk_zW9EUHMw8sk1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accrued expenses</td><td style="width: 2%; text-transform: uppercase"> </td> <td style="width: 1%; text-transform: uppercase; text-align: left">$</td><td style="width: 16%; text-transform: uppercase; text-align: right">1,511,978</td><td style="width: 1%; text-transform: uppercase; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,748,808</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--AdvisoryFees_iI_maAPAOAzedk_znBJKuHgB2af" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Capital market advisory fees</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">1,419,388</td><td style="text-transform: uppercase; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,419,388</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--PersonnelRelatedLiabilities_iI_maAPAOAzedk_z8IPtuj7h5gj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Personnel related liabilities</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">1,157,370</td><td style="text-transform: uppercase; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,667,247</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--InterestPayableCurrent_iI_maAPAOAzedk_zSIUyW028zD2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accrued Interest</td><td style="text-transform: uppercase; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-transform: uppercase; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-transform: uppercase; text-align: right">-</td><td style="padding-bottom: 1pt; text-transform: uppercase; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,556</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_iTI_mtAPAOAzedk_z5zyoMCZzSdd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; text-transform: uppercase; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-transform: uppercase; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-transform: uppercase; text-align: right">4,088,736</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,836,999</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

SCHEDULE OF ACCRUED LIABILITIES AND OTHER CURRENT LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260630_zewaTqVEBLAl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_zUGDQSOTHG85" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025 (audited)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedLiabilitiesCurrent_iI_maAPAOAzedk_zW9EUHMw8sk1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accrued expenses</td><td style="width: 2%; text-transform: uppercase"> </td> <td style="width: 1%; text-transform: uppercase; text-align: left">$</td><td style="width: 16%; text-transform: uppercase; text-align: right">1,511,978</td><td style="width: 1%; text-transform: uppercase; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,748,808</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--AdvisoryFees_iI_maAPAOAzedk_znBJKuHgB2af" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Capital market advisory fees</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">1,419,388</td><td style="text-transform: uppercase; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,419,388</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--PersonnelRelatedLiabilities_iI_maAPAOAzedk_z8IPtuj7h5gj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Personnel related liabilities</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">1,157,370</td><td style="text-transform: uppercase; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,667,247</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--InterestPayableCurrent_iI_maAPAOAzedk_zSIUyW028zD2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accrued Interest</td><td style="text-transform: uppercase; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-transform: uppercase; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-transform: uppercase; text-align: right">-</td><td style="padding-bottom: 1pt; text-transform: uppercase; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,556</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_iTI_mtAPAOAzedk_z5zyoMCZzSdd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; text-transform: uppercase; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-transform: uppercase; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-transform: uppercase; text-align: right">4,088,736</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,836,999</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

1511978

1748808

1419388 1419388 1157370 1667247

1556

4088736

4836999

NOTE 13 – SHORT-TERM LOANS Insurance funding borrowing On August 5, 2025, the Company entered into a financing agreement of $407,500 for the purchase of an insurance policy with AFCO Insurance Premium Finance. The debt is payable in monthly installments through June 2026 and bears an interest rate of 7.5%. The carrying amount of Nil and $205,403 is included as Short-term Loan on the accompanying unaudited condensed consolidated balance sheet as on June 30, 2026, and the audited consolidated balance sheet as on December 31, 2025, respectively. The Company recognized interest expense of $963 and $4,217 on the accompanying unaudited condensed consolidated statement of operations for the three and six months ended June 30, 2026, respectively. A separate insurance financing agreement entered into in July 2024 was fully repaid in June 2025; the Company recognized related interest expense of $1,164 and $5,067 for the three and six months ended June 30, 2025, respectively. Subsequent to three months ended June 30, 2026, the Company entered into a financing agreement of $<span id="xdx_902_eus-gaap--PaymentsForProceedsFromLifeInsurancePolicies_c20260701__20260812__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--AFCOInsurancePremiumFinanceMember_zXlF4jE3a2mg" title="Purchase of insurance policy">493,532 for the purchase of an insurance policy with AFCO Insurance Premium Finance. The Company made a down payment of $172,736, which was applied to the loan amount at the time of the loan agreement. The debt is payable in 7 monthly installments of $47,189 per month and bears an interest rate of 6.99%. Other short-term loans The Company’s short-term loans with Endurance Antarctica Partners II, LLC and under the Term Sheets (including DRE Chicago LLC, a related party) are described in Note 11, Related Party Transactions above and described in greater detail in Note 7 to the Company’s Form 10-K. Both arrangements were fully repaid, together with accrued interest, as of December 31, 2025, and carried no balance as of June 30, 2026. The Company recognized interest expense of $103,938 towards other short-term loans on the accompanying unaudited condensed consolidated statements of operations for the six months ended June 30, 2025. The following table summarizes the Company’s outstanding short-term loan arrangements: SCHEDULE OF SHORT TERM LOAN ARRANGEMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260630_zNO76KrMQJO" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20251231_zpkUIQvBKQ8a" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025 (audited)</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_407_eus-gaap--ShortTermBorrowings_iI_hus-gaap--ShortTermDebtTypeAxis__custom--InsuranceFundingLoanMember_zFOp4Nrga7Uj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Insurance funding loan</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">205,403</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShortTermBorrowings_iI_zOD8efABbu5f" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">205,403</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> Stardust Power Inc. and Subsidiaries NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

407500

0.075

205403

963

4217

1164

5067

493532

172736

P7M

47189

0.0699

103938

The following table summarizes the Company’s outstanding short-term loan arrangements: SCHEDULE OF SHORT TERM LOAN ARRANGEMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260630_zNO76KrMQJO" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20251231_zpkUIQvBKQ8a" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025 (audited)</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_407_eus-gaap--ShortTermBorrowings_iI_hus-gaap--ShortTermDebtTypeAxis__custom--InsuranceFundingLoanMember_zFOp4Nrga7Uj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Insurance funding loan</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">205,403</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShortTermBorrowings_iI_zOD8efABbu5f" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">205,403</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

205403

NOTE 14 - LEASES The Company has entered into a lease agreement with Tower Lake LLC for office space. The Company has not recognized any right-of-use asset or lease liability pursuant to this lease as it is a short-term lease. The Company recorded rent expense of $7,811 for the three months ended June 30, 2026 and 2025 and $15,621 for the six months ended June 30, 2026, and 2025, in the unaudited condensed consolidated statements of operations. In February 2026, the Company entered into a two-year sublease agreement expiring on February 29, 2028, with Chesmar Homes, LLC for office space located in Houston, Texas. The monthly base rent under the agreement is $8,761 and the Company paid a security deposit of $17,523 upon execution of the sublease agreement, 50% of which will be adjusted against the final lease payment. The lease was contractually scheduled to commence on March 1, 2026. However, as the Company obtained control of the underlying asset, including physical possession, on May 1, 2026, the lease commenced on May 1, 2026, under ASC 842, “Leases”. The Company recognized a right-of-use asset and corresponding lease liability of $173,254 as of May 1, 2026. The Company incurred operating lease cost of $17,524 for the three and six months ended June 30, 2026. Cash paid for amounts included in the measurement of operating lease liabilities was $17,524 for both the three and six months ended June 30, 2026, and is classified within operating activities in the condensed consolidated statement of cash flows. The weighted average remaining term of operating leases was 1.67 years as of June 30, 2026, and the weighted-average discount rate used to measure the present value of the operating lease liabilities was 12.5% as of May 1, 2026. As of June 30, 2026, the operating lease right-of-use asset was $157,444, and the operating lease liability of $157,444 was classified as $90,527 current and $66,917 non-current in the unaudited condensed consolidated balance sheet. Future operating lease payments as of June 30, 2026, were as follows: SCHEDULE OF OPERATING LEASE PAYMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: left">Year</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260630_zFgVZSDpzjbl" style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maOLLzLRc_zziImDk7bbqb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 80%">Remainder of 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">52,569</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maOLLzLRc_zjLDmN5hCqt1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">105,138</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maOLLzLRc_zqmZHGm2DYQ6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">2028</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17,523</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtOLLzLRc_zSmdfHcdDZhj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total future lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">175,230</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zGhprbbTX0U5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Less imputed interest</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(17,786</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseLiability_iTI_z9hvm1KBR7Lj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease liability balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">157,444</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

7811

15621

8761

17523

173254

17524

P1Y8M1D

0.125

157444

90527

66917

Future operating lease payments as of June 30, 2026, were as follows: SCHEDULE OF OPERATING LEASE PAYMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: left">Year</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260630_zFgVZSDpzjbl" style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maOLLzLRc_zziImDk7bbqb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 80%">Remainder of 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">52,569</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maOLLzLRc_zjLDmN5hCqt1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">105,138</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maOLLzLRc_zqmZHGm2DYQ6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">2028</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17,523</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtOLLzLRc_zSmdfHcdDZhj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total future lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">175,230</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zGhprbbTX0U5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Less imputed interest</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(17,786</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseLiability_iTI_z9hvm1KBR7Lj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease liability balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">157,444</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

52569

105138

17523

175230

17786

157444

NOTE 15 – PROMISSORY NOTES AND WRITE-OFFS On August 19, 2024, Legacy Stardust Power entered into a promissory note arrangement with IGX Minerals LLC (“IGX”) (the “IGX Note”) for $176,000. Both arrangements are described in the Company’s Form 10-K. During the three months ended June 30, 2025, the Company wrote off the promissory note balance, including interest, in the amount of $182,481 as the note was deemed unrecoverable from IGX and the likelihood of entering into definitive agreements with IGX had diminished significantly. As a result, the Company recognized a loss of $182,481 in the Other Income/Expense section of the unaudited condensed consolidated statement of operations for the three and six months ended June 30, 2025. On March 15, 2024, Legacy Stardust Power entered into a non-binding Letter of Intent with Usha Resources Ltd. (“Usha Resources”) to potentially acquire an interest in its Jackpot Lake lithium brine project, paying a non-refundable exclusivity payment of $25,000. A further non-refundable $50,000 payment was made on May 14, 2024. Both arrangements are described in the Company’s Form 10-K. As of June 30, 2025, the Company determined that the likelihood of entering into definitive agreements with Usha Resources Ltd. had diminished significantly and wrote off the $50,000 deposit balance. The Company recognized a loss of $50,000 in the Other Income/Expense section of the unaudited condensed consolidated statement of operations for the three and six months ended June 30, 2025.

176000

182481

25000 50000 50000

50000

NOTE 16 – SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date the unaudited condensed consolidated financial statements were available to be issued. Other than as disclosed above, there are no additional subsequent events that would have a material impact on the Company’s unaudited condensed consolidated financial statements.

false false false false false false Includes related party amounts of Niland $422for the three months ended June 30, 2026, and 2025, respectively and Niland $58,651for the six months ended June 30, 2026, and 2025, respectively. Amounts have been adjusted to reflect the 1-for-10 reverse stock split that became effective on September 8, 2025. See Note 2 “Basis of presentation and summary of significant accounting policies” for additional details. Amounts have been adjusted to reflect the 1-for-10 reverse stock split that became effective on September 8, 2025. See Note 2 “Basis of presentation and summary of significant accounting policies” for additional details. The Sponsor Earnout Shares (as defined in the Business Combination Agreement) were not included for purposes of calculating the number of diluted shares outstanding as of June 30, 2026, as the Sponsor Earnout Shares remain contingently forfeitable, as the conditions have not been met. These represent equity investments with a readily determinable fair value. The Company has measured its investments to fair value in accordance with ASC 321, “Investments-Equity Securities,” based on quoted prices in active markets. For Level 3 earnout liability, the Company assesses the fair value of expected earnout liability at each reporting period using the Monte Carlo Method, which is consistent with the initial measurement of the expected earnout consideration. This fair value measurement is considered a Level 3 measurement because the Company estimates projections during the earnout period utilizing various potential pay-out scenarios. The Monte Carlo simulation method repeats a process thousands of times in an attempt to predict all the possible future outcomes. At the end of the simulation, several random trials produce a distribution of outcomes that are then analyzed to determine the average present value of the earnout. Change in the fair value of earnout liability is reflected in the unaudited condensed consolidated statements of operations.