CONICO LTD — Capital/Financing Update 2025

Dec 22, 2025

ASX Announcement

23 December 2025

ENTITLEMENT OFFER OPENS

Conico Ltd (ASX:CNJ; “Conico” or “the Company”) is pleased to announce that the one (1) for one (1) pro-rata non-renounceable entitlement offer of new fully paid ordinary shares (“New Shares”) in Conico (“Entitlement Offer”), as announced on 9 December 2025 is now open.

Personalised Entitlement Offer documents will be despatched to Eligible Shareholders today.

The Entitlement Offer is open to Eligible Shareholders of the Company who held shares at 5:00pm (AWST) on 18 December 2025 (“Record Date”) and who have a registered address in Australia or New Zealand.

Eligible Shareholders

Eligible Shareholders should consider the Prospectus dated 12 December 2025 in deciding whether to acquire securities under the Entitlement Offer and follow the instructions on their personalised Entitlement and Acceptance Form which can be accessed at https://portal.automic.com.au/investor/home. The Prospectus can also be accessed via the Company’s website: www.conico.com.au.

The Entitlement Offer closes at 5:00pm (AWST) on Tuesday, 6 January 2026.

The number of Shares that Eligible Shareholders are entitled to apply for under the Entitlement Offer is shown on the personalised Entitlement and Acceptance Form.

Any Shares not taken up by the Closing Date may be made available to those Eligible Shareholders who took up their full Entitlement and applied for additional New Shares under the Shortfall Offer.

Applications

Your acceptance of Shares under the Entitlement Offer (including BPay payment details) must be made following the instructions on your personalised Entitlement and Acceptance Form, which can be accessed via the following website: https://portal.automic.com.au/investor/home.

For any queries regarding the Company please contact the Company secretary by phone on: +61 8 9282 5889.

This announcement is authorised for release by the Company Secretary, Mr Brett Tucker.

Yours sincerely,

Brett Tucker Company Secretary CONICO LTD

Conico Ltd

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ABN 49 119 057 457 Level 15, 197 St George’s Terrace

+61 (0)8 9282 5889

@conico_ltd @ConicoLtd conico-limited

info@conico.com.au

Perth, WA 6000 Australia

www.conico.com.au

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23 December 2025

Dear Shareholder

CONICO LIMITED – PRO-RATA NON-RENOUNCEABLE ENTITLEMENT ISSUE

On 9 December 2025, Conico Limited (ACN 119 057 457) ( CNJ or the Company ) announced a pro-rata non-renounceable entitlement issue of one (1) fully paid ordinary share in the capital of the Company ( Share ) for every one (1) Share held by eligible shareholders at an issue price of $0.008 to raise up to $2,542,948 ( Entitlement Offer ).

The Company lodged a prospectus for the Entitlement Offer ( Prospectus ) with ASIC and ASX on 12 December 2025.

The Entitlement Offer is being made to all current holders of Shares whose registered address is in Australia or New Zealand ( Eligible Shareholders ) at 5.00pm (AWST) on Thursday, 18 December 2025 ( Record Date ).

The Entitlement Offer is fully underwritten by Templar Corporate Pty Ltd (AFSL 315235) ( Underwriter ). Refer to Section 6.4.1 of the Prospectus for details regarding the terms of the underwriting.

The Company intends to apply the funds raised from the Entitlement Offer (less expenses) to advance its exploration activities at the Mt Thirsty Joint Venture, exploration & holding costs at its Greenland projects, investigation of additional resource project acquisitions in Australia and globally, working capital purposes and for expenses of the Entitlement Offer. For further specifics of the use of funds please refer to Section 3.1 of the Prospectus.

Following completion of the Entitlement Offer, the Company will have issued approximately 355,378,484 Shares pursuant to the Prospectus increasing the total number of Shares on issue to 635,746,968.

We are writing to you as an eligible shareholder on the Record Date, to inform you that you are entitled to participate in the Entitlement Offer.

How to access the Entitlement Offer

1. ONLINE – The Prospectus and your personalised Entitlement and Acceptance form (including the BPay® payment details) can be accessed via the following website: https://portal.automic.com.au/investor/home. The Prospectus can also be accessed via the Company’s website: www.conico.com.au.

2. PAPER – Request a paper copy of the Prospectus and your personalised Entitlement and Acceptance Form from the Company secretary, Mr Brett Tucker by phone on: +61 8 9282 5889 or by email at: mailroom@conico.com.au.

The Entitlement Offer closes at 5:00pm (WST) on Tuesday, 6 January 2026.

Participation in Entitlement Offer

The number of Shares for which you are entitled to apply for under the Entitlement Offer ( Entitlement ) is shown on your personalised Entitlement and Acceptance Form. Fractional entitlements will be rounded up to the nearest whole number.

Any Entitlement not taken up pursuant to the Entitlement Offer will form the shortfall ( Shortfall Offer ). Eligible Shareholders who wish to subscribe for additional Shares above their Entitlement are invited to apply for shortfall by making payment for such shortfall in accordance with Section 2.6 of the Prospectus. Allocation of shortfall securities will be at the discretion of the Board.

Applications

Your acceptance of Shares under the Entitlement Offer must be made following the instructions on your personalised Entitlement and Acceptance Form (which is available online) and paying the application monies electronically by BPay or EFT in accordance with the instructions of the Entitlement and Acceptance Form.

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If you are unable to access www.conico.com.au then you can obtain a copy of the Prospectus and your Entitlement and Acceptance Form by contacting Mr Brett Tucker, the Company Secretary, on +61 8 9282 5889 and asking them to mail a paper copy of the Prospectus and your Entitlement and Acceptance Form to you free of charge.

Actions required of Eligible Shareholders

There are a number of actions you may take:

• (a) accept your full Entitlement;

• (b) accept your full Entitlement and apply for additional Shares as part of the Shortfall Offer;

• (c) take up a proportion of your Entitlement and allow the balance to lapse; or

• (d) if you do not wish to accept all or part of your Entitlement, you are not obliged to do anything.

Key dates for the Entitlement Offer

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EVENT DATE
Lodgement of Prospectus with the ASIC Friday, 12 December 2025
Lodgement of Prospectus and Appendix 3B with ASX Friday, 12 December 2025
Ex date Wednesday, 17 December 2025
Record Date for determining Entitlements Thursday, 18 December 2025
Offers opening date, Prospectus sent out to Shareholders and Tuesday, 23 December 2025
Company announces this has been completed
Last day to extend the Closing Date Wednesday, 31 December 2025
Closing Date of the Entitlement Offer as at 5:00pm Tuesday, 6 January 2026
Securities quoted on a deferred settlement basis Wednesday, 7 January 2026
ASX and Underwriter notified of under subscriptions Thursday, 8 January 2026
Underwriter subscribes for Shortfall under terms of Underwriting Friday, 9 January 2026
Agreement
Issue date and lodgement of Appendix 2A with ASX applying Tuesday, 13 January 2026
for quotation of the Shares
Quotation of Shares issued under the Entitlement Offer Wednesday, 14 January 2026
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Notes:

Dates are indicative and subject to change. The Company reserves the right to amend any or all dates and times subject to the Corporations Act, the ASX Listing Rules and other applicable laws. Accordingly, the date the Shares are expected to commence trading on ASX may vary.

You should read the entire Prospectus carefully and seek professional advice before deciding whether to participate in the Entitlement Offer. If you have any queries concerning the Entitlement Offer, or the action you are required to take to subscribe for Shares, please contact your financial adviser or Brett Tucker, the Company Secretary by phone on: + 61 8 9282 5889.

Yours sincerely,

Brett Tucker Company Secretary CONICO LIMITED

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Dear Shareholder,

CONICO LIMITED – PRO-RATA NON-RENOUNCEABLE ENTITLEMENT ISSUE

On 9 December 2025, Conico Limited (ACN 119 057 457) ( CNJ or the Company ) announced a pro-rata non-renounceable entitlement issue of one (1) fully paid ordinary share in the capital of the Company ( Share ) for every one (1) Share held by eligible shareholders at an issue price of $0.008 to raise up to $2,542,948 ( Entitlement Offer ).

The Company lodged a prospectus for the Entitlement Offer ( Prospectus ) with ASIC and ASX on 12 December 2025.

Eligibility criteria

The Entitlement Offer is being made to all current holders of Shares whose registered address is in Australia or New Zealand ( Eligible Shareholders ) at 5.00pm (AWST) on Thursday, 18 December 2025 ( Record Date ).

Shareholders with a registered address outside Australia and New Zealand are not eligible to participate in the Offer. The Company has determined pursuant to Listing Rule 7.7.1(a) of the ASX Listing Rules that it would be unreasonable to make or extend the Offer to shareholders in countries outside of Australia and New Zealand having regard to the relatively small number of shareholders in those countries, the number and value of shares those shareholders hold and the potential cost of complying with regulatory requirements in those countries.

Accordingly, in compliance with ASX Listing Rules and the Act, the Company wishes to advise you that it will not be extending the Offer to you and you will not be able to apply for New Shares under the Offer. You are not required to do anything in response to this letter.

Further information

If you have any questions, please contact the Company’s share registry, Automic, on 1300 288 664.

For other questions, please contact your stockbroker, accountant or other professional financial adviser. On behalf of the Board, I thank you for your continued support of the Company.

Yours sincerely

Brett Tucker Company Secretary Conico Ltd