BAYAN MINING AND MINERALS LIMITED — Share Issue/Capital Change 2021

Aug 29, 2021

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

==> picture [21 x 22] intentionally omitted <==

Announcement Summary

Entity name

BALKAN MINING AND MINERALS LIMITED

Date of this announcement

Monday August 30, 2021

The +securities the subject of this notification are:

==> picture [8 x 9] intentionally omitted <==

+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	UNLISTED OPTION EXERCISABLE AT $1.00	250,000	30/08/2021
to be confirmed	EXPIRING 31-AUG-2023
New class - code	PERFORMANCE RIGHTS	500,000	30/08/2021
to be confirmed
New class - code	UNLISTED OPTION EXERCISABLE AT $0.75	250,000	30/08/2021
to be confirmed	EXPIRING 31-AUG-2023

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

1 / 9

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

==> picture [21 x 22] intentionally omitted <==

Part 1 - Entity and announcement details

1.1 Name of entity

BALKAN MINING AND MINERALS 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

67646716681

1.3 ASX issuer code

BMM

1.4 The announcement is

==> picture [8 x 8] intentionally omitted <==

New announcement

1.5 Date of this announcement

30/8/2021

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

2 / 9

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

Part 2 - Issue details

==> picture [21 x 22] intentionally omitted <==

2.1 The +securities the subject of this notification are:

==> picture [8 x 8] intentionally omitted <==

+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

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

==> picture [8 x 8] intentionally omitted <==

does not have an existing ASX security code ("new class")

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

3 / 9

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

==> picture [21 x 22] intentionally omitted <==

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

ASX +security code +Security description New class - code to be confirmed UNLISTED OPTION EXERCISABLE AT $1.00 EXPIRING 31-AUG-2023 +Security type ISIN code Options Date the +securities the subject of this notification were issued 30/8/2021 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Were any of the +securities issued to +key management personnel (KMP) or an +associate? No Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://www.asx.com.au/asxpdf/20210830/pdf/44zwpcwx9rm4h1.pdf Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 1.00000000 31/8/2023 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option Other Description fully paid ordinary share 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 https://www.asx.com.au/asxpdf/20210712/pdf/44y76dkxhw67rt.pdf Any other information the entity wishes to provide about the +securities the subject of this notification

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

4 / 9

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

==> picture [21 x 22] intentionally omitted <==

Issue details

Number of +securities

250,000

==> picture [495 x 361] intentionally omitted <==

----- Start of picture text -----

ASX +security code +Security description
New class - code to be confirmed PERFORMANCE RIGHTS
+Security type ISIN code
Other
Date the +securities the subject of this notification were issued
30/8/2021
Will all the +securities issued in this class rank equally in all respects from their issue date?
Yes
Were any of the +securities issued to +key management personnel (KMP) or an +associate?
No
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being
issued.
https://www.asx.com.au/asxpdf/20210830/pdf/44zwpcwx9rm4h1.pdf
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
https://www.asx.com.au/asxpdf/20210712/pdf/44y76dkxhw67rt.pdf
Any other information the entity wishes to provide about the +securities the subject of this notification
----- End of picture text -----

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

5 / 9

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

==> picture [21 x 22] intentionally omitted <==

Issue details

Number of +securities

500,000

ASX +security code +Security description New class - code to be confirmed UNLISTED OPTION EXERCISABLE AT $0.75 EXPIRING 31-AUG-2023 +Security type ISIN code Options Date the +securities the subject of this notification were issued 30/8/2021

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

Were any of the +securities issued to +key management personnel (KMP) or an +associate? No

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

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://www.asx.com.au/asxpdf/20210830/pdf/44zwpcwx9rm4h1.pdf

Options Details

+Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.75000000 31/8/2023

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

Description

fully paid ordinary share

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

6 / 9

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

==> picture [21 x 22] intentionally omitted <==

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

https://www.asx.com.au/asxpdf/20210712/pdf/44y76dkxhw67rt.pdf

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

Issue details

Number of +securities 250,000

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

7 / 9

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

==> picture [21 x 22] intentionally omitted <==

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
BMM : ORDINARY FULLY PAID	32,500,000

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
BMMAA : ORDINARY FULLY PAID RESTRICTED	12,500,000
BMMAC : PERFORMANCE RIGHTS RESTRICTED	2,400,000
BMMAB : OPTION EXPIRING 06-JUL-2024 RESTRICTED	3,500,000
New class - code to be confirmed : UNLISTED OPTION EXERCISABLE AT $1.00	250,000
EXPIRING 31-AUG-2023
New class - code to be confirmed : PERFORMANCE RIGHTS	500,000
New class - code to be confirmed : UNLISTED OPTION EXERCISABLE AT $0.75	250,000
EXPIRING 31-AUG-2023

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

8 / 9

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

==> picture [21 x 22] intentionally omitted <==

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

13

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

9 / 9