ARDEA RESOURCES LIMITED — Share Issue/Capital Change 2024

Jan 22, 2024

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

ARDEA RESOURCES LIMITED

Date of this announcement

Tuesday January 23, 2024

The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
ARLAJ	PERFORMANCE RIGHTS	224,400	22/01/2024

Refer to next page for full details of the announcement

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

ARDEA RESOURCES LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number

30614289342

1.3 ASX issuer code

ARL

1.4 The announcement is

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New announcement

1.5 Date of this announcement

23/1/2024

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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has an existing ASX security code ("existing class")

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Part 3B - number and type of +securities the subject of this notification (existing class) where issue has not previously been notified to ASX in an Appendix 3B

Additional +securities in an existing class issued under an +employee incentive scheme

ASX +security code and description

ARLAJ : PERFORMANCE RIGHTS

Date the +securities the subject of this notification were issued

22/1/2024

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

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Matthew Read	Matthew Read	224,400

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

www.ardearesources.com.au

Any other information the entity wishes to provide about the +securities the subject of this notification

224,400 Performance Rights issued comprising 112,200 Class R Performance Rights and 112,200 Class S Performance Rights with Class R hurdle the Company completing the implementation of the owner¿s team structure and recruitment completion for the Kalgoorlie Nickel Project; and continuous service to 1 December 2025, and Class S hurdle the Company completing delivery of EPCM Contract for the Kalgoorlie Nickel Project and continuous service to 1 December 2025 with all Performance Rights expiring 31 December 2025.

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Issue details

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Number of +securities

224,400

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
ARL : ORDINARY FULLY PAID	197,016,915
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
ARLAL : OPTION EXPIRING 03-NOV-2025 EX $1.05	3,000,000
ARLAJ : PERFORMANCE RIGHTS	6,149,400

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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