ABX GROUP LIMITED — Capital/Financing Update 2021

Oct 18, 2021

ASX ANNOUNCEMENT 19 October 2021

ASX: ABX

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Share Purchase Plan Varied Due to Oversubscriptions

• Subscriptions to SPP have exceeded $640,000 from 118 subscribers 10 days before closure date

• Company to accept first $1 million received

• Offer to close on the earlier of $1 million subscribed and 29 October 2021

• Prospectus for the attaching options to be issued 1[st] week in November

ABx Group (ASX: ABX) ( ABx Group ) is pleased to advise that subscriptions to the Share Purchase Plan ( SPP Offer ) have reached $631,000 and the SPP Offer will close on the earlier of the Company receiving $1 million and 5:00pm on 29 October 2021.

Ian Levy, CEO said, “We are pleased by the support we have received for the SPP Offer. The board is committed to sound governance and respecting all shareholders of the Company. Rather than conducting a scale-back and shareholders missing out on the SPP, this resolution by our directors allows eligible shareholders the opportunity to participate in the SPP.”

All subscriptions over $1 million will be refunded. The additional funds raised will be applied to working capital and to further accelerate exploration of our rare earth elements (REE) discoveries in northern Tasmania.

The Offer price is 10 cents. Shareholders can purchase shares totalling up to $30,000. Shareholders will also be able to apply for one Free-Attaching Option for every share applied for by them under the SPP Offer.

Eligible Holders who participate in the SPP will also be offered the opportunity to apply for one free attaching unlisted Option for every one Share applied for under the SPP exercisable at $0.20 per option on or before 31 May 2023 ( Free-Attaching Option ), for nil consideration.

In accordance with listing rules, the offer of the Free-Attaching Options to Eligible Holders will be made separately to the SPP Offer under a prospectus ( Prospectus ) that will be made available when the offer for the Free-Attaching Options are made. A copy of the Prospectus will be made available online, and sent via email or post (as applicable) to Eligible Holders who have participated in the SPP. Any Eligible Holder who participates in the SPP and wishes to apply for Free-Attaching Options will need to complete the application form that will be in or accompany the Prospectus.

This announcement is authorised by the Board of Australian Bauxite Limited.

For further information please contact:

Ian Levy, CEO ABx Group

Mobile: +61 (0) 407 189 122 Email: ilevy@australianbauxite.com.au

Australian Bauxite Limited t/a ABx Group ABN 14 139 494 885

Level 5 52 Phillip Street Sydney NSW 2000 P: +61 2 9251 7177 F: +61 2 9251 7500