COBRE LIMITED — Capital/Financing Update 2023

Nov 20, 2023

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 November 21, 2023

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	Unlisted Options exercisable at $0.066 each.	10,000,000	21/11/2023
to be confirmed

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

ABN

Registration number

75646241067

1.3 ASX issuer code

CBE

1.4 The announcement is

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New announcement

1.5 Date of this announcement

21/11/2023

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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

Unlisted Options, 9.5m upon shareholder approval and 0.5m in lieu of services to an unrelated party

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

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New +securities
ASX +security code +Security description
New class - code to be confirmed Unlisted Options exercisable at $0.066 each.
+Security type ISIN code
Options
Date the +securities the subject of this notification were issued
21/11/2023
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://announcements.asx.com.au/asxpdf/20231020/pdf/05w8n1mzdck8dn.pdf
Options Details
+Security currency Exercise price Expiry date
AUD - Australian Dollar AUD 0.06600000 21/11/2028
Details of the existing class of +security that will be issued upon exercise or conversion of this new class of
company option
Other
Description
CBE Ordinary Shares
Any other information the entity wishes to provide about the +securities the subject of this notification
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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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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

Issued to directors, CEO and Company Secretary as part remuneration and incentivisation

Issue details Number of +securities 10,000,000 Were the +securities issued for a cash consideration? No Please describe the consideration being provided for the +securities Issued to directors, CEO and Company Secretary as part remuneration and incentivisation Purpose of the issue Other Additional Details Issued to directors, CEO and Company Secretary as part remuneration and incentivisation

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

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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	286,910,995

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
CBEAK : OPTION EXPIRING 24-SEP-2024 EX $0.20	12,376,500
CBEAI : OPTION EXPIRING 24-SEP-2024 RESTRICTED	237,000
CBEAO : OPTION EXPIRING 08-DEC-2025 EX $0.33	1,000,000
CBEAM : OPTION EXPIRING 30-NOV-2024 EX $0.335	2,500,000
New class - code to be confirmed : Unlisted Options exercisable at $0.066 each.	10,000,000

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

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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? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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