Announcement PDF 29 November 2023 ASX/MEDIA RELEASE SUCCESSFUL COMPLETION OF PLACEMENT AND INSTITUTIONAL ENTITLEMENT OFFER • Successful completion of fully underwritten $22.4 million Placement and Institutional Entitlement Offer at $0.11 per New Share • Approximately $13.9 million raised through the Placement and a further $8.5 million raised through the Institutional Entitlement Offer • Well supported by existing Eligible Institutional Shareholders, with take up of approximately 99% under the Institutional Entitlement Offer • Retail Entitlement Offer to raise approximately $7.7 million • Retail Entitlement Offer opens on Friday, 1 December 2023 and closes at 5:00pm (Sydney time) on 14 December 2023 • Proceeds of the Placement and Entitlement Offer will be used for general working capital and to pay the costs of the Capital Raising Aeris Resources Limited (ASX: AIS) (Aeris or the Company) is pleased to announce the successful completion of the placement and institutional component (Institutional Entitlement Offer) of its 1 for 4.73 pro-rata accelerated nonrenounceable entitlement offer (Entitlement Offer) of new shares (New Shares), which was announced on Monday, 27 November 2023. The Placement raised approximately $13.9 million through the issue of approximately 126.2 million New Shares and the Institutional Entitlement Offer raised approximately $8.5 million through the issue of approximately 77.1 million New Shares, in each case at $0.11 per New Share (Offer Price). Aeris Resources Limited ABN 30 147 131 977 Level 6, 120 Edward Street, Brisbane, 4000 E: info@aerisresources.com.au T: +61 7 3034 6200 F: +61 7 3034 6290 aerisresources.com.au ABN 30 147 131 977 ABN 30 147 131 | Page1 977 The Placement and the Institutional Entitlement Offer were well supported, with existing eligible institutional shareholders taking up approximately 99% of their entitlements under the Institutional Entitlement Offer. Each New Share issued under the Placement and the Institutional Entitlement Offer will rank equally with existing Aeris shares on issue. New Shares under the Placement and the Institutional Entitlement Offer are expected to settle on Friday, 1 December 2023 and trading on a normal settlement basis is expected to commence on the ASX the next business day. Aeris expects its trading halt to be lifted and Aeris shares to recommence trading from market open today (Wednesday, 29 November 2023). Retail Entitlement Offer Eligible retail shareholders will be invited to participate in the retail component of the Entitlement Offer (Retail Entitlement Offer) at the same Offer Price as under the Placement and the Institutional Entitlement Offer and the same offer ratio as under the Institutional Entitlement Offer. The Retail Entitlement Offer is expected to raise $7.7 million. The Retail Entitlement Offer is expected to open on Friday, 1 December 2023 and close at 5:00pm (Sydney time) on Thursday, 14 December 2023 (Retail Offer Period). Further details about the Retail Entitlement Offer will be set out in an information booklet (Retail Offer Booklet), which Aeris will announce on the ASX on Friday, 1 December 2023. The Retail Offer Booklet and accompanying Entitlement and Acceptance Form are expected to be made available to eligible retail shareholders on the same day. Eligible retail shareholders should carefully read the Retail Offer Booklet and accompanying Entitlement and Acceptance Form. Eligible retail shareholders with registered addresses in Australia or New Zealand and who hold Aeris shares on the record date of 7:00pm (Sydney time) on Wednesday, 29 November 2023 will have the opportunity to apply for New Shares at the Offer Price under the Retail Entitlement Offer. In addition, eligible retail shareholders who take-up all of their entitlement may also apply for additional New Shares in excess of their entitlement (Shortfall Election). There is no cap on the amount of additional New Shares that eligible retail shareholders can apply to take-up through their Shortfall Election. Eligible retail shareholders are not assured of being allocated any New Shares in excess of their entitlement, which will be allocated in accordance with the allocation policy outlined in the Retail Offer Booklet. You should seek appropriate professional advice before making any investment decision. If you have any questions about the Retail Entitlement Offer, please contact the Share Registry of Aeris, Automic Pty Ltd, on 1300 288 664 (within Australia) or +61 2 9698 5414 (outside Australia) between 9:00am and 5:00pm (Sydney time) during the Retail Offer Period. 2|P a g e This announcement is authorised for lodgement by: Andre Labuschagne Executive Chairman ENDS For further information, please contact: Andre Labuschagne Executive Chairman Tel: +61 7 3034 6200 Stefan Edelman General Manager – Corporate Development investorrelations@aerisresources.com.au or visit our website at www.aerisresources.com.au All dollar amounts are in Australian dollars unless otherwise indicated. This announcement may contain certain statements and projections provided by or on behalf of Aeris Resources Limited with respect to the anticipated future undertakings. These forward-looking statements reflect various assumptions by or on behalf of Aeris. Accordingly, these statements are subject to significant business, economic and competitive uncertainties and contingencies associated with the mining industry which may be beyond the control of Aeris which could cause actual results or trends to differ materially, including but not limited to price and currency fluctuations, geotechnical factors, drilling and production results, development progress, operating results, reserve estimates, legislative, fiscal and regulatory developments, economic and financial market conditions in various countries, approvals and cost estimates, environmental risks, ability to meet funding requirements, share price volatility. Accordingly, there can be no assurance that such statements and projections will be realised. Aeris makes no representations as to the accuracy or completeness of any such statement of projections or that any forecasts will be achieved. Additionally, Aeris makes no representation or warranty, express or implied, in relation to, and no responsibility or liability (whether for negligence, under statute or otherwise) is or will be accepted by Aeris or by any of their respective officers, directors, shareholders, partners, employees, or advisers as to or in relation to the accuracy or completeness of the information, statements, opinions or matters (express or implied) arising out of, contained in or derived from this announcement or any omission from this announcement or of any other written or oral information or opinions provided now or in the future to any interested party or its advisers. In furnishing this announcement, Aeris undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise. Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. It does not include all available information and should not be used in isolation as a basis to invest in Aeris. 3|P a g e Not an offer in the United States This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration of the US Securities Act and applicable US state securities laws. 4|P a g e