AUKING MINING LIMITED — Share Issue/Capital Change 2026

Jun 9, 2026

Appendix 3B - Proposed issue of securities

Announcement Summary

Entity name
AUKING MINING LIMITED

Announcement Type
New announcement

Date of this announcement
9/6/2026

The Proposed issue is:
A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

ASX +security code	+Security description	Maximum Number of +securities to be issued
New class-code to be confirmed	Performance shares June 2029	57,142,857
AKN	ORDINARY FULLY PAID	83,333,333

Proposed +issue date
9/6/2026

Refer to next page for full details of the announcement

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

Part 1 - Entity and announcement details

1.1 Name of +Entity

AUKING MINING LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

Registration Number

ABN

29070859522

1.3 ASX issuer code

AKN

1.4 The announcement is

New announcement

1.5 Date of this announcement

9/6/2026

1.6 The Proposed issue is:

A placement or other type of issue

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis?
No

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)?
Existing class

Will the proposed issue of this +security include an offer of attaching +securities?
No

Details of +securities proposed to be issued

ASX +security code and description
AKN : ORDINARY FULLY PAID

Number of +securities proposed to be issued
83,333,333

Offer price details
Are the +securities proposed to be issued being issued for a cash consideration?
No

Please describe the consideration being provided for the +securities
Acquisition of an exploration licence (EL 0731/24) situated in Malawi, Africa (Tundulu Acquisition)

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities
0.015000

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

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX)
Will the proposed issue of this +security include an offer of attaching +securities?
No

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? New class

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1? No

Will the entity be seeking quotation of the 'new' class of +securities on ASX? No

ASX +security code	+Security description
New class-code to be confirmed	Performance shares June 2029

+Security type

Performance shares/units

Number of +securities proposed to be issued

57,142,857

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

Issued in relation to the acquisition of an exploration licence (EL 0731/24) situated in Malawi, Africa (Tundulu Acquisition)

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Performance shares/units details

+Security currency

AUD - Australian Dollar

Will there be +CDIs issued over the +securities? No

Is it a partly paid class of +security? No

Is it a stapled +security?

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

No

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03081415-2A1667760&v=undefined

Part 7C - Timetable

7C.1 Proposed +issue date

9/6/2026

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? Yes
7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

27/5/2026

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No
7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No
7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? Yes
7D.4a Please enter the number and +class of the +securities subject to +voluntary escrow and the date from which they will cease to be subject to +voluntary escrow

In respect of the shares to be issued by AKN the recipients have agreed to a 12 month voluntary restriction from their issue date.

In respect of the performance shares to be issued by AKN the recipients have agreed that one-half of the shares issued will be restricted for 3 months from the date of issue and the other half to be restricted for 6 months from issue

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? No
7E.2 Is the proposed issue to be underwritten? No
7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

Part 7F - Further Information

7F.01 The purpose(s) for which the entity is issuing the securities

Shares and Performance shares are being issued re the acquisition of an exploration licence (EL 0731/24) situated in Malawi, Africa (Tundulu Acquisition)

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

The performance shares shall automatically convert into ordinary shares in AKN, tradeable on ASX upon satisfaction of the following milestone (Performance Hurdle):

The completion of a JORC-compliant resource of at least 25Mt @ 1.25% TREO.

The performance milestone must be achieved within three years from the date of issue of the performance shares.

7F.3 Any on-sale of the +securities proposed to be issued 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)

Appendix 3B - Proposed issue of securities