COBRE LIMITED — Capital/Financing Update 2021

Dec 13, 2021

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

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Announcement Summary

Entity name

COBRE LIMITED

Date of this announcement

Tuesday December 14, 2021

The +securities the subject of this notification are: Other

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	2.5m unlisted Options Exercisable at AUD$0.335	2,500,000	14/12/2021
to be confirmed	expiring 30.11.24

Refer to next page for full details of the announcement

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

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Part 1 - Entity and announcement details

1.1 Name of entity

COBRE 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

ACN

Registration number

626241067

1.3 ASX issuer code

CBE

1.4 The announcement is

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New announcement

1.5 Date of this announcement

14/12/2021

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

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Other

Please specify

Options exercisable at AUD$0.335 each expiring 30.11.24

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

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

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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

New +securities

ASX +security code +Security description New class - code to be confirmed 2.5m unlisted Options Exercisable at AUD$0.335 expiring 30.11.24 +Security type ISIN code Options CBEAM Date the +securities the subject of this notification were issued 14/12/2021 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? Yes 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/20211029/pdf/452b4m1201z561.pdf

Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.33500000 30/11/2024 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option CBEAH : ORDINARY FULLY PAID RESTRICTED

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

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Approved by shareholders at the Company's 2021 AGM

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Issue details

Number of +securities 2,500,000

Were the +securities issued for a cash consideration?

No Please describe the consideration being provided for the +securities Approved by shareholders at the Company's 2021 AGM

Purpose of the issue Other

Additional Details

Lead Manager options in conjunction with April 2021 capital raising

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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
CBE : ORDINARY FULLY PAID	119,937,930

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
CBEAL : OPTION EXPIRING 06-APR-2026 EX $0.335	11,500,000
CBEAH : ORDINARY FULLY PAID RESTRICTED	36,711,947
CBEAK : OPTION EXPIRING 24-SEP-2024 RESTRICTED	13,012,000
CBEAJ : OPTION EXPIRING 31-JAN-2023 RESTRICTED	2,000,000
CBEAI : OPTION EXPIRING 24-SEP-2024 RESTRICTED	237,000
New class - code to be confirmed : 2.5m unlisted Options Exercisable at AUD$0.335	2,500,000
expiring 30.11.24

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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? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

30/11/2021

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