AIC MINES LIMITED — Proxy Solicitation & Information Statement 2023

Feb 22, 2023

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23 February 2023

Dear Shareholder,

Information regarding Notice of Extraordinary General Meeting

AIC Mines Limited (ASX:A1M) ( Company ) will be holding an Extraordinary General Meeting ( Meeting ) at 11.00 am (AWST) on Wednesday 29 March 2023 at the offices of HopgoodGanim Lawyers, Level 27 Allendale Square, 77 St Georges Terrace, Perth, Western Australia.

Background

As announced on 8 February 2023, AIC Mines received firm commitments for $30 million from institutional and sophisticated investors for a two-tranche placement of new fully paid ordinary shares ( New Shares ) ( Placement ).

The Placement will be completed in two tranches. The first tranche, consisting of 56,252,200 New Shares, was issued within the Company’s placement capacity under Listing Rule 7.1. The second tranche, consisting of a total of 10,414,467 New Shares will be issued subject to shareholder approval for the purposes of:

• Listing Rule 7.1 - 5,811,399 New Shares (the subject of Resolution 2); and

• Listing Rule 10.11 - 4,603,068 New Shares (the subject of Resolutions 3-5).

Extraordinary General Meeting

The Company will not be sending hard copies of the Notice of Extraordinary General Meeting to shareholders unless a shareholder has elected to receive a hard copy. Instead, the Notice of Extraordinary General Meeting can be viewed and downloaded from the Company’s website at www.aicmines.com.au/investors/company-announcements/.

The Notice of Extraordinary General Meeting and the Explanatory Memorandum should be read in its entirety. If you are in doubt as to how to vote, you should seek advice from a financial adviser, lawyer, accountant or other professional adviser.

You may vote by attending the Meeting in person, by proxy or by appointing an authorised representative.

The Company strongly encourages all shareholders to vote online at www.investorvote.com.au or to submit their personalised Proxy Form as instructed prior to the Meeting. Your personalised Proxy Form is enclosed for your convenience.

Your proxy form must be received by 11.00 am (AWST) on Monday, 27 March 2023, being not less than 48 hours before the commencement of the Meeting. Any proxy forms received after this time will not be valid for the Meeting.

Shareholders are encouraged to submit questions in advance of the Meeting by email to the Company Secretary at cosec@aicmines.com.au.

Yours sincerely,

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Aaron Colleran Managing Director and CEO

Authorised by the Board of AIC Mines Limited

ABN: 11 060 156 452 E: info@aicmines.com.au www.aicmines.com.au

Address: A8, 435 Roberts Road Subiaco WA 6008