CATALYST METALS LIMITED — Capital/Financing Update 2023

Mar 16, 2023

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17 March 2023

ASX Market Announcements ASX Limited Level 4 20 Bridge Street SYDNEY NSW 2000

COMPLETION OF FIRST TRANCHE OF SHARE PLACEMENT AND CLEANSING STATEMENT

Catalyst Metals Limited ( Company ) advises that settlement of the first tranche of the placement announced by the Company on 10 March 2023 ( Placement ) has been completed.

Under the first tranche of the Placement, following completion of final allocations, the Company has issued 21,450,000 fully paid ordinary shares (instead of 21,850,000 fully paid ordinary shares, as previously announced in the Company’s ASX announcement dated 10 March 2023) ( New Shares ) at a subscription price of $1.00 per New Share to professional and sophisticated investors, for gross proceeds of $21.45 million. The New Shares were issued pursuant to the Company’s placement capacity under ASX Listing Rule 7.1.

The balance of the Placement (being 150,000 shares at $1.00 per share proposed to be issued to the directors of the Company) is subject to the approval of the Company’s shareholders at a general meeting of the Company, to be held in late-April 2023.

Notice under Section 708A(5)(e) of the Corporations Act

Catalyst Metals Limited gives notice under Section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Act ) in relation to the issue of 21,450,000 ordinary fully paid shares in the Company without a disclosure document to exempt investors under Section 708 of the Act, at a price of $1.00 per share on 17 March 2023 (being the First Tranche Share Placement ).

The Company advises that:

1. the securities offered under the First Tranche Share Placement by the Company were issued without disclosure to investors under Part 6D.2 of the Act;

2. this notice is being given under section 708A(5)(e) of the Act;

3. as at the date of this notice, the Company has complied with:

   • (a) the provisions of Chapter 2M of the Act as they apply to the Company; and

   • (b) sections 674 and 674A of the Act; and

4. as at the date of this notice, there is no information that is “excluded information” within the meaning of sections 708A(7) and 708A(8) of the Act that has not already been disclosed to investors generally or as required under section 708A(6)(e) of the Act.

Authorised for release by the Board of Directors of Catalyst Metals Limited.

James Champion de Crespigny

Managing Director and CEO

Unit 9, 331-335 Hay Street, Subiaco WA 6008 PO Box 416, Subiaco WA 6904 Telephone: (61-8) 6107 5878 Email: admin@catalystmetals.com.au www.catalystmetals.com.au ABN 54 118 912 495