APC MINERALS LIMITED — Capital/Financing Update 2021

Dec 21, 2021

22 December 2021

Notice under section 708A

This notice is given by Australian Potash Limited (ASX: APC) ( Company ) under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Act ).

The Company has issued a total of 58,474,461 fully paid ordinary shares at an issue price of $0.08 per share in accordance with the terms of the placement (52,511,961 shares) and share purchase plan (5,962,500 shares) announced to the market on 2 November 2021 (together the Shares ).

The Company confirms that:

1. the Shares were issued without disclosure to investors under Part 6D.2 of the Act;

2. the Company is providing this notice under paragraph 5(e) of section 708A of the Act;

3. as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act, as they apply to the Company and section 674 of the Act; and

4. as at the date of this notice there is no information that is ‘excluded’ information within the meanings of section 708A(7) and 708A(8) of the Act, being information:

   • (a) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules;

   • (b) that investors and their professional advisers would reasonably require for the purposes of making an informed assessment of:

     • i. the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

     • ii. the rights and liabilities attaching to the Securities.

This release was authorised by the Board of the Company.

Matt Shackleton

Managing Director & CEO m.shackleton@australianpotash.com.au +61 (0) 438 319 841

Michelle Blandford

Company Secretary m.blandford@australianpotash.com.au +61 (0) 408 088 295

About Australian Potash Limited

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APC holds a 100% interest in the Lake Wells Sulphate of Potash (LSOP), located approximately 500km northeast of Kalgoorlie, in Western Australia's Eastern Goldfields. The Company is finalising predevelopment plans for commencement of construction. First production from the LSOP is scheduled for 24 to 27 months from a Final Investment Decision.

K-Brite is a registered trademark brand of Australian Potash Limited and the brand under which the suite of high quality, premium SOP products from the LSOP will be marketed.

APC holds a 100% interest in the Laverton Downs Project, located 5km north of Laverton, in Western Australia's Eastern Goldfields.[i]

APC holds a 30% free-carried interest in the Lake Wells Gold Project, located 500km northeast of Kalgoorlie, in Western Australia's Eastern Goldfields.[ii]

Please visit www.australianpotash.com.au for more information.

i Refer to ASX Announcement 9 April 2021 ii Refer to ASX Announcement 8 April 2021

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