CONICO LTD — Capital/Financing Update 2025

Dec 29, 2025

Appendix 3B - Proposed issue of securities

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Update Summary Entity name CONICO LTD Announcement Type Update to previous announcement Date of this announcement 30/12/2025 Reason for update to a previous announcement Extend offer closing date to Tuesday, 13 January 2026 Refer to next page for full details of the announcement

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

CONICO LTD

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

ABN

Registration Number

49119057457

1.3 ASX issuer code

CNJ

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Extend offer closing date to Tuesday, 13 January 2026

1.4b Date of previous announcement to this update

12/12/2025

1.5 Date of this announcement

30/12/2025

1.6 The Proposed issue is:

A standard +pro rata issue (non-renounceable or renounceable)

1.6a The proposed standard +pro rata issue is:

• Non-renounceable

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Appendix 3B - Proposed issue of securities

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Part 3 - Details of proposed entitlement offer issue

Part 3A - Conditions

3A.1 Do any external approvals need to be obtained or other conditions satisfied before the entitlement offer can proceed on an unconditional basis? No

Part 3B - Offer details

+Class or classes of +securities that will participate in the proposed issue and +class or classes of +securities proposed to be issued

ASX +security code and description

CNJ : ORDINARY FULLY PAID

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this If the entity has quoted company +security include an offer of options, do the terms entitle option attaching +securities? holders to participate on exercise? No No

Details of +securities proposed to be issued

ASX +security code and description

CNJ : ORDINARY FULLY PAID

ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is foreign company and +securities do not have +CDIs issued over them)

Offer ratio (ratio to existing holdings at which the proposed +securities will be issued) The quantity of additional +securities For a given quantity of +securities to be issued held

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Appendix 3B - Proposed issue of securities

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What will be done with fractional Maximum number of +securities entitlements? proposed to be issued (subject to rounding) Fractions rounded up to the next 317,868,484 whole number Offer price details for retail security holders In what currency will the offer be What is the offer price per +security made? for the retail offer? AUD - Australian Dollar AUD 0.00800 Oversubscription & Scale back details Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)? Yes Describe the limits on over-subscription There will be no limit on over-subscriptions, which will be scaled back at the discretion of the Board in conjunction with the Underwriter. Will a scale back be applied if the offer is over-subscribed? Yes Describe the scale back arrangements As detailed above Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Part 3C - Timetable

3C.1 +Record date

18/12/2025 3C.2 Ex date

17/12/2025

3C.4 Record date

18/12/2025

3C.5 Date on which offer documents will be sent to +security holders entitled to participate in the +pro rata issue

23/12/2025

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Appendix 3B - Proposed issue of securities

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3C.6 Offer closing date 13/1/2026 3C.7 Last day to extend the offer closing date 8/1/2026

3C.9 Trading in new +securities commences on a deferred settlement basis 14/1/2026

3C.11 +Issue date and last day for entity to announce results of +pro rata issue 20/1/2026 3C.12 Date trading starts on a normal T+2 basis 21/1/2026 3C.13 First settlement date of trades conducted on a +deferred settlement basis and on a normal T+2 basis 23/1/2026

Part 3E - Fees and expenses

3E.1 Will there be a lead manager or broker to the proposed offer? Yes 3E.1a Who is the lead manager/broker? Templar Corporate Pty Ltd 3E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker? Fees payable of 6% for lead manager and underwriter services, partially settled through issue of shares at the Rights Offer price as detailed in Notice of Meeting dated 28 November 2025, plus issue of 50,000,000 unlisted lead manager options exercisable at $0.016 each and expiring 30 Nov 2029. 3E.2 Is the proposed offer to be underwritten? Yes 3E.2a Who are the underwriter(s)? Templar Corporate Pty Ltd 3E.2b What is the extent of the underwriting (ie the amount or proportion of the offer that is underwritten)? Fully underwritten 3E.2c What fees, commissions or other consideration are payable to them for acting as underwriter(s)? As detailed above 3E.2d Please provide a summary of the significant events that could lead to the underwriting being terminated Material terms of the underwriting agreement as detailed in ASX announcement dated 6 June 2025 3E.2e Is a party referred to in listing rule 10.11 underwriting or sub-underwriting the proposed offer? Yes 3E.2e (i) What is the name of that party? Templar Corporate Pty Ltd which is associated with Director, Guy Le Page

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Appendix 3B - Proposed issue of securities

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3E.2e (ii) What is the extent of their underwriting or sub-underwriting (ie the amount or proportion of the offer they have underwritten or sub-underwritten)?

Fully underwritten

3E.2e (iii) What fee, commission or other consideration is payable to them for acting as underwriter or sub-underwriter?

As detailed above

3E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No

3E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer

Part 3F - Further Information

3F.1 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

For exploration & project holding costs, evaluation of additional resource project acquisitions and working capital, to be detailed in rights offer prospectus

3F.2 Will holdings on different registers or subregisters be aggregated for the purposes of determining entitlements to the issue? No

3F.3 Will the entity be changing its dividend/distribution policy if the proposed issue is successful? No

3F.4 Countries in which the entity has +security holders who will not be eligible to participate in the proposed issue Shareholders outside of Australia and New Zealand

3F.5 Will the offer be made to eligible beneficiaries on whose behalf eligible nominees or custodians hold existing +securities No

3F.6 URL on the entity's website where investors can download information about the proposed issue

https://conico.com.au/

3F.7 Any other information the entity wishes to provide about the proposed issue

3F.8 Will the offer of rights under the rights issue be made under a +disclosure document or product disclosure statement under Chapter 6D or Part 7.9 of the Corporations Act (as applicable)? Yes

3F.9 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a +disclosure document or +PDS for the +securities proposed to be issued

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