ADVANCE METALS LIMITED — Capital/Financing Update 2021

Sep 19, 2021

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10 September 2021

Dear Shareholder

Notice to overseas shareholders who are ineligible to participate in Pacific American Holdings Limited Non-Renounceable Rights Issue

Pacific American Holdings Limited (the Company) announced on 10 September 2021 a nonrenounceable pro rata 1 for 2 entitlement offer of fully paid ordinary shares at a price of 1.6 cents per share. Details of which are set out in the announcement.

The Company, in compliance with ASX Listing Rule 7.7.1(b), advises that it is unable to extend this offer to shareholders whose registered address is outside Australia and New Zealand on the Record Date, which , as set out in the offer document is 15 September 2021.

Where shares owned by overseas shareholders are, as of the Record Date, shown as being held by a nominee having an Australian registered address, the offer will generally be extended to the nominee.

Any shares, to which overseas shareholders who have not appointed resident nominee would otherwise be entitled, will form part of the overall issue shortfall and may be placed by the Directors as detailed in the offer document.

The offer document nevertheless emphasises that this offer does not constitute an offer in any place in which, or to a person to whom, it would not be lawful to make such an offer.

Wayne Kernaghan Company Secretary

P: +61 (0) 2 8964 4373 E: info@pamcoal.com www.pamcoal.com

Pacific American Holdings Limited ABN 83 127 131 604 Suite 706, Level 7, 89 York Street, Sydney NSW 2000 GPO Box 1546, Sydney NSW 2001