AKORA RESOURCES LIMITED — Capital/Financing Update 2022

Nov 29, 2022

==> picture [452 x 88] intentionally omitted <==

29 November 2022

The Manager Company Announcements Office ASX Limited Level 4 Exchange Centre 20 Bridges Street Sydney NSW 2000

Dear Sir

RELEASE OF SHARES AND OPTIONS FROM ESCROW

Pursuant to the requirements of Listing Rules, please find attached an announcement authorised by the AKORA board of directors.

Yours faithfully

==> picture [111 x 53] intentionally omitted <==

JM Madden Company Secretary

2022-Nov-29-AKO-JMM-Announcement-Escrow Securities

==> picture [452 x 49] intentionally omitted <==

==> picture [452 x 88] intentionally omitted <==

RELEASE OF SHARES AND OPTIONS FROM ESCROW

AKORA Resources Limited (the “ Company ”) wishes to advise that, in accordance with ASX Listing Rule 3.10A, the following securities will be released from escrow on 16 December 2022:

• (i) 8,693,266 fully paid ordinary shares (Escrowed Shares); and

• (ii) 2,244,750 options over ordinary shares expiring 7 December 2022 (Escrowed Options).

The Escrowed Shares are held by directors and other parties associated with the financing of the Company prior to its listing on the ASX. The Escrowed Options are held by parties associated with the raising of funding for the listing of the Company on the ASX.

The Company will apply for quotation for the Escrowed Shares and Escrowed Options (if exercised) upon their release from escrow in accordance with the ASX Listing Rules.

==> picture [452 x 49] intentionally omitted <==