ASKARI METALS LIMITED — Share Issue/Capital Change 2023

Mar 29, 2023

Application for quotation of +securities

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Announcement Summary

Entity name

ASKARI METALS LIMITED

Announcement Type

New announcement

Date of this announcement

Thursday March 30, 2023

The +securities to be quoted are:

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Other

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
AS2	ORDINARY FULLY PAID	4,000,000	24/03/2023

Refer to next page for full details of the announcement

Application for quotation of +securities

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Application for quotation of +securities

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Part 1 - Entity and announcement details

1.1 Name of entity

ASKARI METALS LIMITED

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type

ACN

Registration number 646034460

1.3 ASX issuer code

AS2

1.4 The announcement is

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New announcement

1.5 Date of this announcement

30/3/2023

Application for quotation of +securities

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Application for quotation of +securities

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Part 2 - Type of Issue

2.1 The +securities to be quoted are:

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Other

2.2 The +securities to be quoted are:

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Additional +securities in a class that is already quoted on ASX ("existing class")

2.3c Have these +securities been offered under a +disclosure document or +PDS?

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No

2.3d Please provide any further information needed to understand the circumstances in which you are applying to have these +securities quoted on ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Issue of shares to complete acquisition of initial 80% interest in EPL 8535, pursuant to shareholder approval granted on 20 February 2023.

2.4 Any on-sale of the +securities to be quoted 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 cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)

Application for quotation of +securities

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Application for quotation of +securities

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

Additional +securities to be quoted in an existing class

ASX +security code and description AS2 : ORDINARY FULLY PAID Issue date 24/3/2023 Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Issue details

Number of +securities to be quoted 4,000,000 Are the +securities being issued for a cash consideration? No Please describe the consideration being provided for the +securities Issue of fully paid ordinary shares to complete the acquisition of the initial 80% interest in EPL 8535 pursuant to shareholder approval granted on 20 February 2023

Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted 0.400000 Any other information the entity wishes to provide about the +securities to be quoted 800,000 shares are freely tradeable 3,200,000 shares are subject to 12 months escrow from the date of issue

The purpose(s) for which the entity is issuing the securities

To pay for the acquisition of an asset

Please provide additional details

Issue of fully paid ordinary shares to complete the acquisition of the initial 80% interest in EPL 8535 pursuant to shareholder approval granted on 20 February 2023

Application for quotation of +securities

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Application for quotation of +securities

Part 4 - Issued capital following quotation

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Following the quotation of the +securities the subject of this application, the issued capital 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 on ASX following the +quotation of the +securities subject of this application)

	Total number of
ASX +security code and description	+securities on issue
AS2O : OPTION EXPIRING 31-OCT-2024	13,203,098
AS2 : ORDINARY FULLY PAID	53,497,529

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
AS2AC : ORDINARY FULLY PAID RESTRICTED	6,940,000
AS2AD : OPTION EXPIRING 07-JUL-2023 RESTRICTED	281,250
AS2AE : OPTION EXPIRING 07-JUL-2024 RESTRICTED	2,500,000

Application for quotation of +securities

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Application for quotation of +securities

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Part 5 - Other Listing Rule requirements

5.1 Are the +securities being issued under an exception in Listing Rule 7.2 and therefore the issue does not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

20/2/2023

Application for quotation of +securities

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