AMERICAN URANIUM LTD — Share Issue/Capital Change 2026

May 28, 2026

Appendix 3B - Proposed issue of securities

Update Summary

Entity name
AMERICAN URANIUM LTD

Announcement Type
Update to previous announcement

Date of this announcement
29/5/2026

Reason for update to a previous announcement
Extension of closing date to 15 July 2026 and associated timetable updates.

Refer to next page for full details of the announcement

Appendix 3B - Proposed issue of securities
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Appendix 3B - Proposed issue of securities

Part 1 - Entity and announcement details

1.1 Name of +Entity

AMERICAN URANIUM LTD

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

Registration Number

ABN

33124792132

1.3 ASX issuer code

AMU

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Extension of closing date to 15 July 2026 and associated timetable updates.

1.4b Date of previous announcement to this update

12/5/2026

1.5 Date of this announcement

29/5/2026

1.6 The Proposed issue is:

A standard +pro rata issue (non-renounceable or renounceable)

1.6a The proposed standard +pro rata issue is:

• Non-renounceable

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

Part 3 - Details of proposed entitlement offer issue

Part 3A - Conditions

3A.1 Do any external approvals need to be obtained or other conditions satisfied before the entitlement offer can proceed on an unconditional basis?
No

Part 3B - Offer details

+Class or classes of +securities that will participate in the proposed issue and +class or classes of +securities proposed to be issued

ASX +security code and description
AMU : ORDINARY FULLY PAID

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)?
Existing class

Will the proposed issue of this +security include an offer of attaching +securities?
Yes

If the entity has quoted company options, do the terms entitle option holders to participate on exercise?
Yes

Details of +securities proposed to be issued

ASX +security code and description
AMU : ORDINARY FULLY PAID

ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is foreign company and +securities do not have +CDIs issued over them)

Offer ratio (ratio to existing holdings at which the proposed +securities will be issued)

The quantity of additional +securities to be issued
For a given quantity of +securities held

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Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

What will be done with fractional entitlements?
Maximum number of +securities proposed to be issued (subject to rounding)
Fractions rounded up to the next whole number
21,552,877

Offer price details for retail security holders

In what currency will the offer be made?
What is the offer price per +security for the retail offer?
AUD - Australian Dollar
AUD 0.12000

Oversubscription & Scale back details

Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)?
Yes

Describe the limits on over-subscription
Eligible Shareholders who take up their Entitlement in full may, in addition to their Entitlement, apply for Shortfall Securities regardless of the size of their present holding by completing the accompanying Application Form in accordance with the instructions set out on that form.

Will a scale back be applied if the offer is over-subscribed?
Yes

Describe the scale back arrangements
The Directors (with the assistance of CPS) reserve the right to issue Shortfall Securities at their absolute discretion, subject to any restrictions imposed by the Corporations Act and the Listing Rules.

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?
Yes

Attaching +Security

Is the proposed attaching security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional +securities in a class that is already quoted or recorded by ASX)?
New class

Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX)

Details of attaching +securities proposed to be issued
ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is foreign company and +securities do not have +CDIs issued over them)

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1?
☐ No
☑ Yes

Will the entity be seeking quotation of the 'new' class of +securities on ASX?
☐ No

ASX +security code	+Security description
New class-code to be confirmed	Options exercisable at $0.16 expiring 30 June 2029

+Security type
Options

Offer ratio (ratio of attaching securities at which the new +securities will be issued)
The quantity of attaching +securities to be issued: 1
For a given quantity of the new +securities issued: 2

What will be done with fractional entitlements?
Fractions rounded down to the nearest whole number or fractions disregarded
Maximum number of +securities proposed to be issued (subject to rounding): 10,776,438

Offer price details for retail security holders
In what currency will the offer be made?
AUD - Australian Dollar
What is the offer price per +security for the retail offer? AUD 0.12000

Oversubscription & Scale back details

Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)?
☐ Yes

Describe the limits on over-subscription
Eligible Shareholders who take up their Entitlement in full may, in addition to their Entitlement, apply for Shortfall Securities regardless of the size of their present holding by completing the accompanying Application Form in accordance with the instructions set out on that form.

Will a scale back be applied if the offer is over-subscribed?
☐ Yes

Describe the scale back arrangements
The Directors (with the assistance of CPS) reserve the right to issue Shortfall Securities at their absolute discretion, subject to any restrictions imposed by the Corporations Act and the Listing Rules.

Will all the +securities issued in this class rank equally in all respects from their issue date?
☐ Yes

Options details

+Security currency
AUD - Australian Dollar

Exercise price	Expiry date
AUD 0.1600	30/6/2029

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

Details of the type of +security that will be issued if the option is exercised

AMU : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised

One fully paid ordinary share (ASX:AMU)

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

Details of company options where holders entitled to participate in the offer

ASX +security code and description

AMUOC : OPTION EXPIRING 25-SEP-2028

Date Option must be exercised by

28/4/2026

Part 3C - Timetable

3C.1 +Record date
28/4/2026

3C.2 Ex date
27/4/2026

3C.4 Record date
28/4/2026

3C.5 Date on which offer documents will be sent to +security holders entitled to participate in the +pro rata issue
1/5/2026

3C.6 Offer closing date
15/7/2026

3C.7 Last day to extend the offer closing date
10/7/2026

3C.9 Trading in new +securities commences on a deferred settlement basis
16/7/2026

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

3C.11 +Issue date and last day for entity to announce results of +pro rata issue
22/7/2026

3C.12 Date trading starts on a normal T+2 basis
23/7/2026

3C.13 First settlement date of trades conducted on a +deferred settlement basis and on a normal T+2 basis
27/7/2026

Part 3E - Fees and expenses

3E.1 Will there be a lead manager or broker to the proposed offer?
Yes

3E.1a Who is the lead manager/broker?
CPS Capital Group Pty Ltd

3E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?
6% commission and 5,000,000 options exercisable at $0.16 expiring 30 June 2029

3E.2 Is the proposed offer to be underwritten?
No

3E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission?
No

3E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer

Part 3F - Further Information

3F.1 The purpose(s) for which the entity intends to use the cash raised by the proposed issue
- Expansion and Infill drilling at the Lo Herma ISR Uranium Project;
- Hydrogeological and metallurgical studies at the Lo Herma ISR Uranium Project; and
- Landholding costs, Costs of the Offer; and general working capital.

3F.2 Will holdings on different registers or subregisters be aggregated for the purposes of determining entitlements to the issue?
No

3F.3 Will the entity be changing its dividend/distribution policy if the proposed issue is successful?
No

3F.4 Countries in which the entity has +security holders who will not be eligible to participate in the proposed issue

3F.5 Will the offer be made to eligible beneficiaries on whose behalf eligible nominees or custodians hold existing +securities
Yes

3F.5a Please provide further details of the offer to eligible beneficiaries
Eligible beneficiaries in Australia, New Zealand and Canada are eligible to participate in the offer.

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

3F.6 URL on the entity's website where investors can download information about the proposed issue

3F.7 Any other information the entity wishes to provide about the proposed issue

3F.8 Will the offer of rights under the rights issue be made under a +disclosure document or product disclosure statement under Chapter 6D or Part 7.9 of the Corporations Act (as applicable)?

Yes

3F.9 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of:

The publication of a +disclosure document or +PDS for the +securities proposed to be issued

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