CHALICE MINING LIMITED — Capital/Financing Update 2023

Jul 11, 2023

ASX Announcement

12 July 2023

Vesting of Performance Rights

Chalice Mining Limited (“ Chalice ” or “ the Company ”, ASX: CHN) advises that in accordance with the terms of the Company’s Employee Securities Incentive Plan ( Plan ), 788,387 of the 2020/21 Performance Rights ( Performance Rights ) that were issued to key management personnel and employees in 2020 ( Participants ) have vested.

This follows a determination by the Board that 75% of the performance conditions attached to the Performance Rights have been satisfied over the three-year measurement period ended 30 June 2023.

The remaining 262,802 Performance Rights have lapsed due to not meeting the performance conditions.

The Company will issue 788,387 fully paid ordinary shares to CPU Share Plans Pty Limited, as trustee of the Chalice Mining Employee Share Trust ( Trust ), for allocation to the Participants upon exercising their Performance Rights. The Performance Rights expire 30 June 2024.

For additional information, please refer to the Appendix 2A lodged with the ASX today.

This announcement has been authorised for release by the Disclosure Committee.

For further information, please visit www.chalicemining.com or contact:

Corporate Enquiries

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Alex Dorsch Nicholas Read LinkedIn: chalice-mining Managing Director and CEO Principal and Managing Director Twitter: @chalicemining Chalice Mining Limited Read Corporate Investor Relations +61 8 9322 3960 +61 8 9388 1474 info@chalicemining.com info@readcorporate.com.au

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Registered Office ABN 47 116 648 956

Level 3, 46 Colin Street, West Perth WA 6005, Australia PO Box 428, West Perth WA 6872

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@chalicemining chalice-mining

T: +61 8 9322 3960 F: +61 8 9322 5800