COMET RIDGE LIMITED — Capital/Financing Update 2022

Mar 30, 2022

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

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Announcement Summary

Entity name

COMET RIDGE LIMITED

Date of this announcement

Thursday March 31, 2022

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	Warrants	26,515,152	31/03/2022
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

COMET RIDGE 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

47106092577

1.3 ASX issuer code

COI

1.4 The announcement is

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New announcement

1.5 Date of this announcement

31/3/2022

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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

Refer Appendix 3B lodged 30 March 2022

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 Warrants +Security type ISIN code Other Date the +securities the subject of this notification were issued 31/3/2022

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02403074-2A1313410?access_token=8 3ff96335c2d45a094df02a206a39ff4

Any other information the entity wishes to provide about the +securities the subject of this notification https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02504731-6A1084289?access_token=8 3ff96335c2d45a094df02a206a39ff4

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

The securities which are new securities, the subject of this Appendix 3G have previously been referenced in an Appendix - - 3B lodged 30 March 2022, which can be found at the following: https://cdn api.markitdigital.com/apiman gateway/ASX/asx -research/1.0/file/2924-02504553-6A1084166?access_token=83ff96335c2d45a094df02a206a39ff4

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Issue details

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Number of +securities

26,515,152

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

In consideration of the 2nd tranche sum of $3.5m, part of the loan facility from Pure Asset Management the details of which were contained in COI ASX announcement 3/08/2021.

Purpose of the issue

To raise additional working capital

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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
COI : ORDINARY FULLY PAID	860,034,445

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
COIAP : WARRANTS EX $0.165	39,393,939
COIAA : PERFORMANCE RIGHTS	16,395,000
New class - code to be confirmed : Warrants	26,515,152

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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? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

26,515,152 Warrants

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

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