CHALLENGER GOLD LIMITED — Proxy Solicitation & Information Statement 2021

Aug 3, 2021

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4 August 2021

Dear Shareholder

NOTICE OF GENERAL MEETING

Challenger Exploration Limited (ASX: CEL ) ( Challenger or the Company ) advises that it will be holding a General Meeting ( GM ) of the Company on Friday 3 September 2021 at 9.00am (WST) at Level 1, 1205 Hay Street, West Perth, Western Australia.

The Company and the Board are aware of the current circumstances resulting from COVID-19 and the impact it is having, and is likely to continue to have, on physical meetings. Accordingly, the Board has made the decision that it will hold a physical Meeting with the appropriate social gathering and physical distancing measures in place to comply with the State and Federal Government’s current restrictions for physical gatherings. All shareholders will have the opportunity to join the meeting and register in advance with Zoom via the following link:

https://us06web.zoom.us/meeting/register/tZwvdOGrqDIjHdXRZgXV2RM_d4RMuj5BAYyD

After registering, you will receive a confirmation email containing information about joining the meeting.

In accordance with the Australian and Investments Commission’s ‘no action’ position announced on 31 March 2021 via Media Release 21-061, the Company will not be dispatching physical copies of the Notice of General Meeting, accompanying Explanatory Statement and Schedules (Notice of Meeting).

You will be able to view and download the Notice of Meeting online from the Company website, and specifically the announcements page at: https://challengerex.com/investor-centre/#notice-of-meeting

If you have not elected to receive notices by email, a copy of your personalised proxy form is enclosed for your convenience. Shareholders are encouraged to complete and lodge their proxies online or otherwise in accordance with the instructions set out in the proxy form and the Notice of Meeting.

Your proxy voting instruction must be received not less than 48 hours before the commencement of the GM. Any proxy voting instructions received after that time will not be valid for the GM.

The Notice of Meeting is important and should be read in its entirety. If you are in doubt as to the course of action you should follow, you should consult your financial adviser, lawyer, accountant, or other professional adviser. If you have any difficulties obtaining a copy of the Notice of Meeting, please contact Automic Share Registry on 1300 288 664.

The Company will update shareholders if changing circumstances will impact the planning or arrangements for the GM by way of announcement on the ASX and details will be made available on our website at www.challengerex.com.

On behalf of the Board.

Scott Funston Director and Company Secretary Challenger Exploration Limited

Challenger Exploration Limited ACN 123 591 382 ASX: CEL Website: www.challengerex.com

Issued Capital 840.5m shares 54.7m options 120m perf shares 16m perf rights

Australian Registered Office Level 1 1205 Hay Street

West Perth WA 6005

Directors

Mr Kris Knauer, MD and CEO Mr Scott Funston, Finance Director Mr Fletcher Quinn , Chairman

Contact

E: admin@challengerex.com

T: +61 8 6380 9235

www.challengerex.com