ASKARI METALS LIMITED — Capital/Financing Update 2021

Jul 4, 2021

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P: +61 2 8072 1400 (AU) | E: hello@automicgroup.com.au | W: automicgroup.com.au

James Rowe

Senior Manager, Listings Compliance (Perth)

25 June 2021

ASKARI METALS LIMITED

As share registry for Askari Metals Limited ( Company ), Automic Pty Ltd (trading as Automic Registry Services) hereby provides:

1. Confirmation on the issuance of the following Securities on 25 June 2021:

▪ 28,646,000 Shares under the Initial Public Offer at an issue price of $0.20 per share;

• 400,000 shares issued to the lead manager;

• 3,475,000 shares to the vendors;

• 2,500,000 unlisted lead manager options; and

• 281,250 unlisted vendor options.

1. Confirmation on the issuance of the following Securities on 12 April 2021:

▪ 3,400,000 board and management performance rights.

1. An undertaking pursuant to ASX Listing Rule 9.1(f) that it will comply with ASX Listing Rule 9.1(e);

2. An undertaking pursuant to ASX Listing Rule 9.1(h) that it will comply with ASX Listing Rule 9.1(g);

Security Code	Security Name	Total Holdings
AS2EOPTL	LM OPT @ $0.25 EXP 25/06/24 ESC 24M	2,500,000
AS2EOPTV	VENDOR OPT @ $0.25 EXP 25/06/23 ESC 12M	281,250
AS2ESC12	ESCROWED SHARES 12M FROM 31/3/21	1,950,000
AS2ESC24	ESCROWED SHARES 24M FROM QUOTATION	6,490,000
AS2ESC24L	LM SHARES ESC 24M FROM QUOTATION	450,000
AS2ESCVA	VENDOR SHARES ESC 12M FROM QUOTATION	3,475,000
AS2ESCVB	VENDOR DEFERRED SHARES ESC 12M	450,000
AS2PR	PERFORMANCE RIGHTS ESC24M FROM QUOTATION	3,400,000

1. Confirmation that all holding statements for securities that have been issued on the Issuer Sponsored

   • subregister was despatched on 25 June 2021;

2. Confirmation that all transaction notifications for securities that have been issued on the CHESS Sponsored subregister was despatched on 25 June 2021;

In addition to the above, please find attached the following reports:

• a distribution schedule for all of the FPOs on issue;

• a top 20 list of all the FPOs on issue;

• a statement showing AS2’s capital structure

Yours sincerely

Ann Nguyen Head of Capital Markets & Investor Services

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Sydney Level 5, 126 Phillip Street Sydney NSW 2000

Perth Level 2, 267 St Georges Terrace Perth WA 6000