APC MINERALS LIMITED — Capital/Financing Update 2021

Jul 19, 2021

20 July 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 ).

On 16 July 2021 the Company issued 9,207,144 fully paid ordinary shares ( Shares ) at an issue price of $0.14 per Share in accordance with the terms of the placement announced to the market on 24 May 2021 and subsequent to shareholder approval being received on 9 July 2021 for the issue of 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 500kms 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 mid-2023.[i]

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 5kms north of Laverton, in Western Australia's Eastern Goldfields.[ii]

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

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

i Refer to ASX Announcement 20 April 2021 ‘FEED positions K-Brite at the Premium End of SOP Market’. That announcement contains the relevant statements, data and consents referred to in this announcement. Apart from that which is disclosed in this document, Australian Potash Limited, its directors, officers and agents: 1. Are not aware of any new information that materially affects the information contained in the 20 April 2021 announcement, and 2. State that the material assumptions and technical parameters underpinning the estimates in the 20 April 2021 announcement continue to apply and have not materially changed.

ii Refer to ASX Announcement 9 April 2021 ‘Massive Nickel Sulphide Targets Identified at Laverton Downs’. That announcement contains the relevant statements, data and consents referred to in this announcement. Apart from that which is disclosed in this document, Australian Potash Limited, its directors, officers and agents: 1. Are not aware of any new information that materially affects the information contained in the 9 April 2021 announcement, and 2. State that the material assumptions and technical parameters underpinning the estimates in the 9 April 2021 announcement continue to apply and have not materially changed.

iii Refer to ASX Announcement 8 April 2021 ‘SBM Acquires 70% Interest in Lake Wells Gold Project’. That announcement contains the relevant statements, data and consents referred to in this announcement. Apart from that which is disclosed in this document, Australian Potash Limited, its directors, officers and agents: 1. Are not aware of any new information that materially affects the information contained in the 8 April 2021 announcement, and 2. State that the material assumptions and technical parameters underpinning the estimates in the 8 April 2021 announcement continue to apply and have not materially changed.

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