Announcement PDF 25 October 2024 ASX/MEDIA RELEASE AERIS RESOURCES LIMITED (ASX:AIS) Letter to Shareholders, Notice of Annual General Meeting and Proxy Form Aeris Resources Limited (ASX: AIS) (Company or Aeris) advises that an Annual General Meeting (Meeting) of shareholders of Aeris to be held at 10.00am (AEST) on 27 November 2024 at HopgoodGanim Lawyers, Level 7, Waterfront Place, 1 Eagle Street Brisbane QLD 4000. A copy of a letter mailed to shareholders who have elected to receive documents in hard copy, along with a copy of the Notice of Meeting and Proxy Form, is attached below. As permitted by the Corporations Act 2001 (Cth) and the Company’s Constitution, the Company will not be dispatching physical copies of the Notice of Meeting to all shareholders. Instead, the Notice of Meeting and accompanying explanatory memorandum is being made available to shareholders electronically and can be viewed and downloaded at the following links: https://www.aerisresources.com.au/investor-centre/ or https://www.asx.com.au/ If you have any questions about the AGM or Notice of Meeting, please contact the Share Registry on 1300 288 664 (for callers within Australia) or +61 2 9698 5414 (for overseas callers). This announcement is authorised for lodgement by: Mr. Andre Labuschagne Executive Chairman For further information, please contact: Mr. Andre Labuschagne Executive Chairman Tel: +61 7 3034 6200, or visit our website at www.aerisresources.com.au Notice of Extraordinary General Meeting Dear Shareholder It is my pleasure to invite you to the Annual General Meeting (Meeting) of shareholders of Aeris Resources Limited (Company or Aeris) to be held at 10:00am (AEST) on 27 November 2024. The meeting will be held in-person at HopgoodGanim Lawyers, Level 7, Waterfront Place, 1 Eagle Street, Brisbane Qld 4000. In accordance with the Corporations Act 2001 (Cth) and the Company’s Constitution, the Company will not be dispatching physical copies of the Notice of Meeting to shareholders unless the shareholder has made a valid election to receive documents in hard copy. The Notice of Meeting are available to view online on the ASX website and Company’s website: https://www.aerisresources.com.au/investor-centre/#asx-announcements. The Meeting has been convened to consider Resolutions for: (a) the adoption of the Remuneration Report for the year ended 30 June 2024; (b) the re-election of Mr Michele Muscillo as Director of the Company; (c) approval to issue an additional 10% of the issued capital of the Company over a 12-month period pursuant to Listing Rule 7.1A; and (d) the re-insertion of proportional takeover provisions in Constitution. Attending the Meeting in-person Shareholders can attend the Meeting in-person at HopgoodGanim Lawyers, Level 7, Waterfront Place, 1 Eagle Street, Qld 4000. Voting by Proxy Shareholders who wish to participate in the Meeting in-person and who wish to vote on the day of the meeting can find further instructions on how to do so in the Notice of Meeting. Alternatively, shareholders are strongly encouraged to complete and submit their vote by proxy by using one of the following methods: Online Lodge the Proxy Form online at https://investor.automic.com.au/#/loginsah by following the instructions: (1) Log in to the Automic website using the holding details as shown on the Proxy Form. (2) Click on ‘View Meetings’ – ‘Vote’. (3) To use the online lodgement facility, Shareholders will need their holder number (Securityholder Reference Number (SRN) or Holder Identification Number (HIN)) as shown on the front of the Proxy form. For further information on the online proxy lodgement process please see the Online Proxy Lodgement Guide at: https://www.automicgroup.com.au/wp-content/uploads/2020/09/Online-ProxyLodgment-web.pdf By post Automic, GPO Box 5193, Sydney NSW 2001 By hand Automic, Level 5, 126 Phillip Street, Sydney NSW 2000 Aeris Resources Limited ABN 30 147 131 977 Level 6, 120 Edward Street, Brisbane QLD 4000 Australia Post: GPO Box 2460, Brisbane, QLD 4001 E: info@aerisresources.com.au T: +61 7 3034 6200 aerisresources.com.au Your proxy voting instruction must be received by 10:00 am (AEST) on 25 November 2024, being no later than 48 hours before the commencement of the Meeting. Any Proxy Voting instructions received after that time will not be valid for the scheduled Meeting. Each resolution considered at the Meeting will be decided on a poll. Questions in relation to the Resolution can be submitted, in advance of the meeting to the Company, in writing to the Company Secretary via email to investorrelations@aerisresources.com.au by 10am (AEST) on 25 November 2024. If you have any queries regarding the AGM or require a hard copy of the Notice of Annual General Meeting, please contact your stockbroker, accountant, other independent professional adviser or the Company's registry, Automic Registry Services on 1300 288 664 (callers within Australia) or +61 2 9698 5414 (callers outside Australia) at any time between 9.00am to 5.00pm (AEST) Monday to Friday, up to the AGM date. Your continued support is greatly appreciated. Yours sincerely, Andre Labuschagne Executive Chairman Aeris Resources Limited Aeris Resources Limited ABN 30 147 131 977 Level 6, 120 Edward Street, Brisbane QLD 4000 Australia Post: GPO Box 2460, Brisbane, QLD 4001 E: info@aerisresources.com.au T: +61 7 3034 6200 aerisresources.com.au Notice of Annual General Meeting and Explanatory Memorandum Aeris Resources Limited ACN 147 131 977 Date of Meeting: 27 November 2024 Time of Meeting: 10:00am (AEST) Place of Meeting: HopgoodGanim Lawyers Level 7, Waterfront Place 1 Eagle Street Brisbane Qld 4000 This Notice of Annual General Meeting and Explanatory Memorandum should be read in their entirety. If Shareholders are in doubt as to how they should vote, they should seek advice from their accountant, solicitor or other professional adviser without delay. Notice of Annual General Meeting Dear Shareholder Enclosed is a notice of an Annual General Meeting (Meeting) of shareholders of Aeris Resources Limited (Company or Aeris) to be held at 10:00am (AEST) on 27 November 2024. The meeting will be held in-person at HopgoodGanim Lawyers, Level 7, Waterfront Place, 1 Eagle Street, Qld 4000. In accordance with the Corporations Act 2001 (Cth) and the Company’s Constitution, the Company will not be dispatching physical copies of the Notice of Meeting to shareholders unless the shareholder has made a valid election to receive documents in hard copy. The Meeting has been convened to consider Resolutions for: (a) the adoption of the Remuneration Report for the year ended 30 June 2024; (b) the re-election of Mr Michele Muscillo as Director of the Company; (c) approval to issue an additional 10% of the issued capital of the Company over a 12-month period pursuant to Listing Rule 7.1A; and (d) the re-insertion of proportional takeover provisions in Constitution. Attending the Meeting in-person Shareholders can attend the Meeting in-person at HopgoodGanim Lawyers, Level 7, Waterfront Place, 1 Eagle Street, Qld 4000. Voting in-person at the Meeting If you attend the Meeting in-person, you will be able to register and vote at the Meeting by attending HopgoodGanim Lawyers, Level 7, 1 Eagle Street, Brisbane Qld 4000. Voting by Proxy Shareholders who wish to participate in the Meeting in-person and who wish to vote on the day of the meeting can find further instructions on how to do so in the Notice of Meeting. Alternatively, shareholders are strongly encouraged to complete and submit their vote by proxy by using one of the following methods: Online Lodge the Proxy Form online at https://investor.automic.com.au/#/loginsah by following the instructions: (1) Log in to the Automic website using the holding details as shown on the Proxy Form. (2) Click on ‘View Meetings’ – ‘Vote’. (3) To use the online lodgement facility, Shareholders will need their holder number (Securityholder Reference Number (SRN) or Holder Identification Number (HIN)) as shown on the front of the Proxy form. For further information on the online proxy lodgement process please see the Online Proxy Lodgement Guide at: https://www.automicgroup.com.au/agm/virtual-agms/ By post Automic, GPO Box 5193, Sydney NSW 2001 By hand Automic, Level 5, 126 Phillip Street, Sydney NSW 2000 Your proxy voting instruction must be received by 10:00 am (AEST) on 25 November 2024, being no later than 48 hours before the commencement of the Meeting. Any Proxy Voting instructions received after that time will not be valid for the scheduled Meeting. _____________________________________________________________________________________________________ Aeris Resources Limited – Notice of Meeting Page 1 Notice of Annual General Meeting In addition to the enclosed Proxy Form, the Proxy Form is also available on the Company’s website at https://www.aerisresources.com.au/investor-centre/#asx-announcements. Each resolution considered at the Meeting will be decided on a poll. Questions in relation to the Resolutions can be submitted, in advance of the meeting to the Company, in writing to the Company Secretary via email to investorrelations@aerisresources.com.au by 10:00am (AEST) on 25 November 2024. If you have any queries regarding the AGM or require a hard copy of the Notice of Annual General Meeting, please contact your stockbroker, accountant, other independent professional adviser or the Company's registry, Automic Registry Services on 1300 288 664 (callers within Australia) or +61 2 9698 5414 (callers outside Australia) at any time between 9.00am to 5.00pm (AEST) Monday to Friday, up to the date of the Meeting. Shareholders are encouraged to monitor the Company’s website for any further updates in relation to the arrangements for the Meeting. The Company looks forward to your attendance and participation at the Meeting. Your continued support is greatly appreciated. Yours sincerely Andre Labuschagne Executive Chairman Aeris Resources Limited _____________________________________________________________________________________________________ Aeris Resources Limited – Notice of Meeting Page 2 Notice of Annual General Meeting Notice is given that an Annual General Meeting of Shareholders of Aeris Resources Limited ACN 147 131 977 will be held: Date of Meeting: 27 November 2024 Time of Meeting: 10:00 am (AEST) Place of Meeting: HopgoodGanim Lawyers Level 7, Waterfront Place 1 Eagle Street Brisbane Qld 4000 Terms used in this Notice of Meeting are defined in section 6 of the accompanying Explanatory Memorandum. The Explanatory Memorandum and the Proxy Form accompanying this Notice of Meeting are incorporated in and comprise part of this Notice of Meeting. Agenda The agenda for the meeting is as follows: Ordinary Business Financial Report To receive and consider the Company’s Annual Report, consisting of the Directors’ Report and Auditors’ Report, Directors’ Declaration, Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Consolidated Statement of Cash Flows and notes to and forming part of the accounts for the Company and its controlled entities for the financial year ended 30 June 2024. No voting is required for this item. 1. Resolution 1 – Remuneration Report To consider and, if thought fit, pass the following Resolution, with or without amendment, as an advisory Resolution: “That, the Remuneration Report for the year ended 30 June 2024 (as set out in the Directors’ Report) is adopted”. Note: The vote on this Resolution 1 is advisory only and does not bind the Directors or the Company. Voting Restriction pursuant to Section 250R(4) of the Corporations Act A vote on Resolution 1 must not be cast (in any capacity) by or on behalf of either of the following persons: (a) (b) a member of the Key Management Personnel details of whose remuneration are included in the Remuneration Report; a Closely Related Party of such a member. However, the above persons may cast a vote on Resolution 1 if: (a) the person does so as a proxy; and _____________________________________________________________________________________________________ Aeris Resources Limited – Notice of Meeting Page 3 Notice of Annual General Meeting (b) the vote is not cast on behalf of a member of the Key Management Personnel details of whose remuneration are included in the Remuneration Report or a Closely Related Party of such a member; and either: (1) the voter is appointed as a proxy by writing that specifies the way the proxy is to vote on the resolution; or (2) the voter is the chair of the meeting and the appointment of the chair as proxy: (A) does not specify the way the proxy is to vote on the resolution; and (B) expressly authorises the chair to exercise the proxy even if the resolution is connected directly or indirectly with the remuneration of the Key Management Personnel for the Company or, if the Company is part of a consolidated entity, for the entity. Voting Intentions of Chair Shareholders should be aware that any undirected proxies given to the Chair will be cast by the Chair and counted in favour of the Resolution the subject of this Meeting, including Resolution 1, subject to compliance with the Corporations Act. Further details, in relation to the ability of the Chair to vote on undirected proxies are set out in the accompanying Explanatory Memorandum. 2. Resolution 2 – Re-election of Mr Michele Muscillo as a Director of the Company To consider and, if thought fit, pass the following resolution, with or without amendment, as an Ordinary Resolution of the Company: “That Mr Michele Muscillo, who retires by rotation in accordance with Rule 28.6(a) of the Constitution and Listing Rule 14.4 and, being eligible, offers himself for re-election, be reelected as a Director.” Special Business 3. Resolution 3 – Approval to issue an additional 10% of the issued capital of the Company over a 12-month period pursuant to Listing Rule 7.1A To consider and, if thought fit, pass the following resolution, with or without amendment, as a Special Resolution of the Company: “That, pursuant to and in accordance with Listing Rule 7.1A, and for all other purposes, the Shareholders approve the issue of Equity Securities of up to 10% of the issued capital of the Company (at the time of issue) calculated in accordance with the formula prescribed in Listing Rule 7.1A.2, over a 12-month period from the date of the Meeting, at a price not less than that determined pursuant to Listing Rule 7.1A.3 and otherwise on the terms and conditions described in the Explanatory Memorandum.” Voting Exclusion Statement As at the date of this Notice, the Company is not proposing to make an issue of Equity Securities under Listing Rule 7.1A. Accordingly, a voting exclusion statement is not included in this Notice _____________________________________________________________________________________________________ Aeris Resources Limited – Notice of Meeting Page 4 Notice of Annual General Meeting 4. Resolution 4 – Insertion of Proportional Takeover Provisions in Constitution To consider and, if thought fit, pass the following resolution, with or without amendment, as an Special Resolution of the Company: “That, for the purposes of sections 136(2) and 648G of the Corporations Act, and for all other purposes, the Constitution of the Company be amended by re-inserting the proportional takeover provisions contained in the attached Explanatory Memorandum into the Constitution as Rule 15.8, with effect from the date of the Meeting for a period of three years”. General Business To consider any other business as may be lawfully put forward in accordance with the Constitution of the Company. Notes: (a) Terms used in this Notice of Meeting are defined in the “Interpretation” section of the accompanying Explanatory Memorandum. (b) A detailed summary of the Resolutions is contained within the Explanatory Memorandum. All resolutions at this Meeting will be voted on by poll and Shareholders who are entitled to vote may vote either prior to the Meeting by appointing a proxy or by poll during the Meeting. By order of the Board Dane Van Heerden Company Secretary Aeris Resources Limited 25 October 2024 _____________________________________________________________________________________________________ Aeris Resources Limited – Notice of Meeting Page 5 Explanatory Memorandum Explanatory Memorandum This Explanatory Memorandum is provided to shareholders of Aeris Resources Limited ACN 147 131 977 in connection with the business to be considered at the Annual General Meeting of Shareholders to be held at HopgoodGanim Lawyers, Level 7, Waterfront Place, 1 Eagle Street, Qld 4000. The Notice of Meeting, which is also enclosed, sets out details of proposals concerning the Resolutions to be put to Shareholders. The purpose of this Explanatory Memorandum is to provide Shareholders with information that is reasonably required by Shareholders to decide how to vote upon the Resolutions. The Company’s Notice of Annual General Meeting and this Explanatory Memorandum should be read in their entirety and in conjunction with each other. Subject to the abstentions noted below, the Directors unanimously recommend that Shareholders vote in favour of all Resolutions. The Chairman of the Meeting intends to vote all available undirected proxies in favour of each resolution. The Directors recommend that Shareholders read the accompanying Notice of Meeting and this Explanatory Memorandum in full before making any decision in relation to the Resolutions. Resolution 1, relating to the Remuneration Report, is an advisory resolution and does not bind the Directors or the Company. Resolutions 2 is an ordinary resolution, which requires that a simple majority of votes cast by Shareholders present and entitled to vote on the resolution must be in favour of the Resolution. Resolutions 3 and 4 are special resolutions, which require that at least 75% of the votes cast by Shareholders present and entitled to vote on the resolution must be in favour of the Resolution. Terms used in this Explanatory Memorandum are defined in Section 6. 1. Consider the Company’s Annual Report The Company’s Annual Report comprising the Directors’ Report and Auditors’ Report, Directors’ Declaration, Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Consolidated Statement of Cash Flows and notes to and forming part of the accounts for the Company and its controlled entities for the financial year ended 30 June 2024 were released to ASX Limited on 29 August 2024. The Company’s Annual Report is placed before the Shareholders for discussion. No voting is required for this item. 2. Resolution 1 - Remuneration Report 2.1 Remuneration Report In accordance with Section 250R of the Corporations Act, the Board has submitted its Remuneration Report to Shareholders for consideration and adoption by way of a non-binding advisory Resolution. The Remuneration Report is set out in the Directors’ Report section of the Annual Report for the period ending 30 June 2024. The Remuneration Report:  explains the Board’s policies and processes for determining the nature and amount of remuneration of executive Directors and senior executives of the Company; _____________________________________________________________________________________________________ Aeris Resources Limited – Notice of Meeting Page 6 Explanatory Memorandum  explains the relationship between Company performance and remuneration policy;  sets out remuneration details for each Director and the most highly remunerated senior executives of the Company;  details and explains any performance conditions applicable to the remuneration of executive Directors and senior executives of the Company; and  sets out the details of Share-based compensation for the Directors. A reasonable opportunity will be provided for the Shareholders to ask questions about, or make comments on, the Remuneration Report at the Meeting. 2.2 Directors’ recommendation The Directors abstain, in the interests of corporate governance, from making a recommendation in relation to Resolution 1. A vote on this Resolution is advisory only and does not bind the Directors or the Company. 2.3 Voting restrictions on Key Management Personnel and their Closely Related Parties and their proxies Members of the Key Management Personnel and their Closely Related Parties (Restricted Voters) and proxies of Restricted Voters are restricted from voting on a resolution which is connected directly or indirectly with the remuneration of a member of the Key Management Personnel (Voting Restriction). Key Management Personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including any director (whether executive or otherwise) of that entity. The Company will disregard any votes cast in favour of the Resolution by any restricted voters. The Voting Restriction applies to Resolution 1. However, it does not apply where:  the member of the Key Management Personnel is appointed in writing (by a Shareholder who is not a Restricted Voter) as a proxy where the appointment specifies the way the proxy is to vote on the resolution; or  the Chair is appointed in writing (by a Shareholder who is not a Restricted Voter) as a proxy where the appointment does not specify the way the proxy is to vote on the resolution and expressly authorises the Chair to exercise the proxy even if the resolution is connected directly or indirectly with the remuneration of a member of the Key Management Personnel for the Company or, if the Company is part of a consolidated entity, for the entity. Shareholders should be aware that any undirected proxies given to the Chair will be cast by the Chair and counted in favour of the resolutions the subject of this Meeting, including Resolution 1, subject to compliance with the Corporations Act. In exceptional circumstances, the Chair may change their voting intention on any resolution, in which case an ASX announcement will be made. The Proxy Form attached to this Notice has been prepared on this basis. Aeris Resources Limited – Notice of Meeting Page 7 Explanatory Memorandum 3. Resolution 2 – Re-election of Mr Michele Muscillo as a Director of the Company 3.1 Background Under Listing Rule 14.4 and Rule 28.6(a) of the Company’s Constitution, a Director (other than the Managing Director) shall not continue in office for a period in excess of three consecutive years or until the third annual general meeting following the Director’s appointment, whichever is longer, without submitting to re-election. Mr Muscillo was last re-elected as a Director of the Company at the AGM held on 25 November 2021. Accordingly, Mr Muscillo retires by rotation in accordance with the Company’s Constitution and Listing Rule 14.4 and, being eligible, offers himself for re-election as a Director. If Resolution 2 is passed, Mr Muscillo will be re-elected as a Director and if it is not passed, Mr Muscillo will not be re-elected. 3.2 Mr Muscillo’s qualifications and experience Mr Muscillo is a Partner specialising in corporate law with HopgoodGanim Lawyers. Mr Muscillo is an admitted Solicitor and has a practice focussed almost exclusively on mergers and acquisitions and capital raising. Mr Muscillo has acted on a variety of corporate transactions including initial public offerings, takeovers and acquisitions. Mr Muscillo has a Bachelor of Laws from Queensland University of Technology (QUT) and was a recipient of the QUT University Medal. Mr Muscillo is the Chairman of the Audit Committee and is a member of both the Remuneration and Nomination Committee and the Sustainability Committee. Other current directorships (ASX listed entities): Xanadu Mines Limited (ASX:XAM) and Mako Gold Limited (ASX:MKG). Former directorships in the past 3 years (ASX listed entities): Cardinal Resources Limited (ASX:CDV). 3.3 Recommendation The Directors (with Mr Muscillo abstaining) recommend that you vote in favour of this Ordinary Resolution. Shareholders should be aware that any undirected proxies given to the Chair will be cast by the Chair and counted in favour of the resolutions the subject of this Meeting, including this Resolution 2, subject to compliance with the Corporations Act. In exceptional circumstances, the Chair may change their voting intention on any resolution, in which case an ASX announcement will be made. Special Business 4. Resolution 3 – Approval to issue an additional 10% of the issued capital of the Company over a 12-month period pursuant to Listing Rule 7.1A 4.1 Background Broadly speaking, and subject to a number of exceptions, Listing Rule 7.1 limits the amount of Equity Securities that a listed company can issue without the approval of its shareholders over any 12-month period to 15% of the fully paid ordinary securities it had on issue at the start of that period. Aeris Resources Limited – Notice of Meeting Page 8 Explanatory Memorandum However, under Listing Rule 7.1A, an eligible entity may seek shareholder approval by way of a special resolution passed at its annual general meeting to increase this 15% limit by an extra 10% (Additional 10% Capacity). An ‘eligible entity’ means an entity which is not included in the S&P/ASX 300 Index and has a market capitalisation of $300,000,000 or less. The Company is an eligible entity as both of these conditions are satisfied having regard to the market price of $0.22 per Share as at 16 October 2024. Resolution 3 seeks Shareholder approval by way of special resolution for the Company to be granted the Additional 10% Capacity provided for in Listing Rule 7.1A. If Resolution 3 is passed, the Company will be able to issue Equity Securities up to the combined 25% limit in Listing Rules 7.1 and 7.1A without any further Shareholder approval. If Resolution 3 is not passed, the Company will not be able to access the Additional 10% Capacity to issue Equity Securities without Shareholder approval under Listing Rule 7.1A, and will remain subject to the 15% limit on issuing Equity Securities without Shareholder approval set out in Listing Rule 7.1. 4.2 Technical information required by Listing Rule 7.1A Pursuant to and in accordance with Listing Rule 7.3A, the information below is provided in relation to Resolution 3: (a) Period for which the Additional 10% Capacity is valid The Additional 10% Capacity will commence on the date of the Meeting and expire on the first to occur of the following: (b) (1) the date that is 12 months after the date of this Meeting; (2) the time and date of the Company’s next annual general meeting; and (3) the time and date of approval by Shareholders of any transaction under Listing Rule 11.1.2 (a significant change in the nature or scale of activities) or Listing Rule 11.2 (disposal of the main undertaking). Minimum Price at which the Equity Securities may be issued Any Equity Securities issued under the Additional 10% Capacity must be in an existing quoted class of Equity Securities and be issued at a minimum price of 75% of the volume weighted average price of Equity Securities in that class, calculated over the 15 trading days on which trades in that class were recorded immediately before: (c) (1) the date on which the price at which the Equity Securities are to be issued is agreed by the entity and the recipient of the Equity Securities; or (2) if the Equity Securities are not issued within 10 trading days of the date in subsection 4.2(b)(1), the date on which the Equity Securities are issued. Use of funds raised under the Additional 10% Capacity The purposes for which funds raised by an issue of Equity Securities under the Additional 10% Capacity may be used include the following: (1) exploration activities on the Company’s mineral interests; (2) assessment of any future mineral property opportunities; Aeris Resources Limited – Notice of Meeting Page 9 Explanatory Memorandum (d) (3) assessment of any other investment opportunities; and (4) ongoing future working capital purposes. Risk of Economic and Voting Dilution Any issue of Equity Securities under the Additional 10% Capacity will dilute the interests of Shareholders who do not receive any Shares under the issue. If Resolution 3 is approved by Shareholders and the Company issues the maximum number of Equity Securities available under the Additional 10% Capacity, the economic and voting dilution of existing Shares would be as shown in the table below. The table below shows the dilution of existing Shareholders calculated in accordance with the formula outlined in Listing Rule 7.1A.2, on the basis of the closing market price of Shares and the number of Equity Securities on issue as at 30 June 2024. The table also shows the voting dilution impact where the number of Shares on issue (Variable A in the formula) changes and the economic dilution where there are changes in the issue price of Shares issued under the Additional 10% Capacity. Issued Share Capital (Variable A in Listing Rule 7.1A.2) Issued Share Capital: 10% Voting Dilution 50% decrease in Market Price $0.11 Issue Price Market Price as at 16 October 2024 $0.22 Funds Raised 100% Increase in Market Price $0.44 Current 967,525,540 96,752,554 $10,642,781 $21,285,562 $42,571,124 50% Increase 1,451,288,310 45,128,831 $15,964,171 $31,928,343 $63,856,686 100% Increase 1,935,051,080 93,505,108 $21,285,562 $42,571,124 $85,142,248 *The number of Shares on issue (Variable A in the formula) could increase as a result of the issue of Shares that do not require Shareholder approval (such as under a prorata rights issue or scrip issued under a takeover offer) or that are issued with Shareholder approval under Listing