CONICO LTD — Capital/Financing Update 2025

Oct 29, 2025

Appendix 3B - Proposed issue of securities

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Announcement Summary

Entity name CONICO LTD

Announcement Type

New announcement

Date of this announcement

30/10/2025

The Proposed issue is:

A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
New class-code to be	Unlisted options exercisable at $0.002 each, expiring 30	1,600,000,000
confirmed	November 2029
CNJ	ORDINARY FULLY PAID	1,982,561,813
Proposed +issue date
1/12/2025

Refer to next page for full details of the announcement

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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

New announcement

1.5 Date of this announcement

30/10/2025

1.6 The Proposed issue is:

A placement or other type of issue

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Appendix 3B - Proposed issue of securities

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis? Yes 7A.1a Conditions Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? +Security holder approval 28/11/2025 Estimated Comments

Part 7B - Issue details Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? Existing class Details of +securities proposed to be issued

ASX +security code and description CNJ : ORDINARY FULLY PAID

Number of +securities proposed to be issued 1,445,000,000 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities Settlement of converting loans with face value of $1,405,000 plus accrued interest to the date of conversion

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 1,445,000.000000 Will these +securities rank equally in all respects from their issue date with

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Appendix 3B - Proposed issue of securities

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the existing issued +securities in that class?

Yes

Is the proposed security a 'New	Will the proposed issue of this
class' (+securities in a class that is	+security include an offer of
not yet quoted or recorded by ASX)	attaching +securities?
or an 'Existing class' (additional	No
securities in a class that is already
quoted or recorded by ASX)?
New class
Details of +securities proposed to be issued
ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs
issued over them)
Have you received confirmation from	Will the entity be seeking quotation
ASX that the terms of the proposed	of the 'new' class of +securities on
+securities are appropriate and	ASX?
equitable under listing rule 6.1?	No
No
ASX +security code	+Security description
New class-code to be confirmed	Unlisted options exercisable at $0.002 each, expiring 30 November 2029
+Security type
Options
Number of +securities proposed to be	issued
1,600,000,000
Offer price details
Are the +securities proposed to be issued being issued for a cash consideration?
No
Please describe the consideration being provided for the +securities 800,000,000 options as consideration for Lead manager services for the converting loan raising plus 800,000,000 options as consideration for rights issue underwriting and lead manager services
Please provide an estimate of the AUD	equivalent of the consideration being
provided for the +securities
80,000.000000
Will all the +securities issued in this class rank equally in all respects from
their issue date?
Yes

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Appendix 3B - Proposed issue of securities

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Options details

+Security currency

AUD - Australian Dollar

Exercise price AUD 0.0020

Expiry date 30/11/2029

Details of the type of +security that will be issued if the option is exercised

CNJ : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised

800,000,000 fully paid ordinary shares (pre-consolidation)

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

To be detailed in Notice of Meeting to seek shareholder approval

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 +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +security code and description

CNJ : ORDINARY FULLY PAID

Number of +securities proposed to be issued

239,433,813

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

84,300,000 Shares in lieu of cash to settle lead manager and broker services in relation to the Converting Loan raise at 6% of funds raised.

155,133,813 shares as consideration for underwriting and lead manager services in relation to the Rights issue as detailed in Notice of Meeting dated 30 October 2025

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 239,434.000000

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of

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Appendix 3B - Proposed issue of securities

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not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? Existing class

Details of +securities proposed to be issued

ASX +security code and description CNJ : ORDINARY FULLY PAID

Number of +securities proposed to be issued

148,128,000

Offer price details Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

Settlement of unpaid director fees and advisory fees accrued from 1 November 2024 to 30 November 2025, as detailed in Notice of Meeting to seek shareholder approval

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 148,128.000000

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? Existing class Details of +securities proposed to be issued ASX +security code and description CNJ : ORDINARY FULLY PAID Number of +securities proposed to be issued 150,000,000 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? No

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Appendix 3B - Proposed issue of securities

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Please describe the consideration being provided for the +securities

Fee for service of an independent advisor in negotiating the legal settlement with Cartwright as detailed in ASX announcement dated 6 June 2025

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 150,000.000000

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Part 7C - Timetable

7C.1 Proposed +issue date

1/12/2025

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? Yes

7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 28/11/2025

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Yes 7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No 7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? Yes

7D.4a Please enter the number and +class of the +securities subject to +voluntary escrow and the date from which they will cease to be subject to +voluntary escrow

All shares issued to be escrowed until the Company lodges a prospectus to enable secondary trading

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? Yes

7E.1a Who is the lead manager/broker?

Templar Corporate Pty Ltd is the lead manager and broker to the Converting Loan raising

7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

6% of funds raised from the Converting Loan raising and Rights issue, to be settled through issue of shares subject to shareholder approval. Further, issue of 300 million shares and 1,600 million unlisted options for lead manager services as detailed in this Appendix and Notice of Meeting dated 30 October 2025, subject to shareholder approval

7E.2 Is the proposed issue to be underwritten? No

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Appendix 3B - Proposed issue of securities

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7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

As detailed above

Part 7F - Further Information

7F.01 The purpose(s) for which the entity is issuing the securities

As detailed in ASX announcements 6 June 2025, 9 September 2025 and notice of annual general meeting dated 30 October 2025

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

7F.3 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 involving the same class of securities as the +securities proposed to be issued that meets the requirements of section 708A(11) or 1012DA(11)

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