DALAROO METALS LTD — Capital/Financing Update 2022

May 22, 2022

ASX Announcement: (ASX:DAl-) 22 May 2022

APPENDIX 2A. SECURITIES RELEASED FROM ESCROW

Please see the attached Appendix 2A in respect of the release from escrow of securities of the Company.

Please refer to the ASX announcement dated 13 May 2022 regarding the securities being released from ASX escrow pursuant to this notice.

This announcement was authorised for release to ASX by the Board of Dalaroo Metals Ltd.

For more information about Dalaroo Metals Ltd and its projects please visit our web site at alaroometals.com.au

David Peterson Company Secretary

Appendix 2A

Application for quotation of +securities

lnformation or documents not available now must be given fo ASXas soon as available. lnformation and documents given to ASX become ASX'S property and may be made public.

lf you are an entity incorporated outside Australia and you are seeking quotation of a new class of +securities other than CDls, you will need to obtain and provide an lnternational Securities ldentification Nunber (lSlN) for that class. Fufther information on the requirement for the notitication of an lSlN is available from the Create Online Forms page. ASX is unable to create the new lSlN for non-Australian issuers.

'Denotes minimum information required for first lodgement of this form, with exceptions provided in specifb notes for ceftain questions. The balance of the information, where applicable, must be provided as soon as reasonably practicable by the entity.

Part 1 - Entity and announcement details

Question no	Question	Answer
1.1	"Name of entity	Dalaroo Metal Ltd
	We (the entity here named) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.l
1.2	'Registration type and number Please su\$y your ABN, /4RSN, ARBN, ACN or anothet registration tyw and number (if you supdy anothet registration type, please specify both the type of registmtion and the rcgistration nunbe)-	ABN 23 648 476 699
I,J	*ASX issuer code	DAL
1.4	*This announcement is	X A new announcement
	Tick whichever is applicable.	n An update/amendment to a previous announcement
		tr A cancellation of a previous announcement
1 .4a	*Reason for update	N/a
	Answerthis question if your rcsponse to Q 1-4 is an update/amendment to previous announcement.
1 .4b	*Date of previous announcement to this update	N/a
	Answer this question il your response to Q 1.4 is an update/amendment to prcvious announcemenL
1.4c	*Reason for cancellation	N/a
	Answer this question if your response to Q 1.4 is "A cancollation of a prcvious announcement"

Appendix 2A ofthe Listing Rules includes a warranty that an offer ofthe securities for sale within 12 months after their issue will not require disclosure under section 707(3) or1012C(6) of the Corporations Aci. lf you are in any doubt as to the application of, or the entity's capacity to give, this warranty, please see ASIC Regulatory Guide 173 Disclosure fot on-sale of secuities and other linancial products and consult your legal adviser.

1 .4d	'Date of previous announcement to this cancellation	N/a
	Answerthis question if your response to Q 1.4 is "A cancellation ol a Nevious announcement"
1.5	"Date of this announcement	22 May 2022

Part2 - Type of issue

Question No.	Question		Answer
2.1	"The +securities to be quoted are: Select whichever item is applicable. ll you wish to apply for quolation of differcnl types ot issues of secuities, please @mpbte a separate		E +Secu lies issued as part ofa transaction or transactions prevrously announced to the market in an Appendix 3B
	Appendix tor each type of issue.	!	+Securities issued under a +dividend or distribution plan
			tr +Securities issued, transferred or re classifled as a result of options being exercised or other +convertible securities being converted
		!	Unquoted partly paid +securities that have been fully paid up and are now to become quoted fully paid +securities
			Note: thera is no need to apply for quotation of the fuly paid secuities if the paftly paid secutities were already quoted
			E +Restricted securities where the escrow period has expired or is about to expire
			tr +Securities previously issued under an +employee incentive scheme where the restrictions on transfer have ceased or are about to cease
			D +Securities issued under an +employee incentive scheme that are not subject to a restriction on transfer or that are to be quoted nohvithstanding there is a restriction on transfer
			D Other [please specify]
			lf you have selected 'othe!' please explain lhe circumstances of the issue here:
2.1a	*Have the +securities to be quoted been issued yet?	Yes
2.1a.1	*\/Vhat was their date of issue? Answer this question if your response to Q2- 1 a is "Ygs".		21 May 2021
	*\/vhat is their proposed date of issue? Answer this question it you rcsponse lo Q2. 1 a is "No".	N/a
2.2a.1	*Date of Appendix 38 notifoing the market of the proposed issue of +securities for which quotation is now being sought	Nia
	Answer this question if your response to Q2.1 is "Secutities issued as parl ot a transaction or transactions prcviously announced to the matuet in an Appendix 38"

2.2a.2	Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B? Answer this qwstion if Wut F-spo,l/se to Q2. 1 is 'Securtbs issued as paft of a transaction or tnnsactions previoualy announced to the maet in an Appendix 3B'.	N/a
2.2a.2.1	"Please provide details of the further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B Answer this guestion if your response to Q2.1 is "Secuntles ,ss./gd as pai of a transaction or ttansactions previously announced to the market in an Appendix 38" and yout rcsponse to Q2.2a.2 is'Yes". Please provide details of the paposed dates and numberof secudties lot the futther issues. This may be the case, for example, if the Appendix 38 related to an accelerated pro rata offet with an institutional component being quoted on one date and a retail	N/a
2.2b.1	component being quoted on a later date. Date of Appendix 3A.1 lodged with ASX in relation to the underlying +dividend or distribution Answer this question if your response to Q2.1 is 'Secutities issued under a dividend ot disttibution plan".	N/a
2.2c.1	Please state the number and type of options that were exercised or other +convertible securities that were converted (including their ASX security code) Answer this question if your rcsponse to Q2- 1 is 'Sacuities issued, transfeied or rc4lassified as a result of options being exercised or other conveftible securities bei ng convetted".	N/a
2.2c.2	And the date the options were exercised or other +convertible securities were converted Answer this question if you response to Q2- 1 is 'Secur?ies ,:ssue4 trcnsfered or rc-classified as a result of options being exercised ot othet convedible secuities bei ng convetted". Note: lf this oaiured over a range of dates, entet the first date and last date of the peiod in which the options werc exercised or convedible secudties werc	N/a
2.2c.3	ls this all of the options or other +convertible securities on issue of that type (ie have all of those options now been exercised or have all of those convertible securities now been converted)? Answer this queslion if your response to Q2.1 is "Secur,lres lssued, tQnsfened ot re-classitied as a result of options being exercised or other convenible secu ritie s bei ng conveded".	N/a Note: llyou have answered'No", consider whether you need to lodge dn Appendix 3H with ASX notifying ASX oflhe cessal,b, of sofie ot a ofthe remaining options or other conveftible secutities under Lislng Rule 3.10.E. This may the case, lot example, if options have lapsed because they have passed their expiry date without being exercised, or canvedible debt securilies have been rcpaid or redeemed wilhout being converted.
	The right of the holder of the options or other +convertible securities to receive the +underlying securities is being satisfled by: Answer this question if your response to Q2.1 is "Secuntbs rssued transfened or rc-classilied as a result of options being exercised ot other conveftible securif es being convefted".	E An issue of new +securities E A transfer of existing +securities D A reclassification ofthe +convertible securities as securities in the same class as the +underlying securities

2.2c.5 2.2c.6	The underlying securities being received by the holder are: Answet this question if your rcsponse to Q2.1 is "Secur,rbs /'ssued, transtened or E-classified as a rcsult of options being exercised or other convedible secuitie s be i ng co nvetted". Were the options being exercised or other +convertible securities being converted issued under an +employee incentive scheme? Ansleet this queslion ifyour response lo Q2.l is 'Securities issued, lransferred or re-classrfied as a result oJ options being ewrcised or other coneiible se&lilies being		! by ASX quoted by ASx N/a	Already quoted by ASX D lntended to be, but are not yet, quoted E Are not, and are not intended to be,
2.2c.7	*Are any of the options being exercised or other +convertible securities being converted held by +ksy management personnel (KMP) or an +associate? An\$rer this q@slion llyow response to Q2.l is "Secatities issued, rransJerred or re-classiied as a rcsuh of options being exercised or other cowertible securities being conye ed" and your response to Q2.2 c.6 is " Yes ".		N/a
2.2c.7.a	*Provide details ofthe KMP or +associates who are exercising options or converting convertible securities. Answer this question if your response to Q2j is "Securries ,Ssue4 lransfeffed or re-classified as a rcsult of options being exercised or other cgnveftible secuities being conveied", your rcsponse to Q2.2c.6 is "Yes" and your response to Q2.2c-7 is'Yes". Reryat the detail in the table below fot each KMP involved- lf the options or other conveftible securities are held by the KMP, repeat the name of the KMP or insed "Same" in "Name of registered holdet''. lf the options ot other conveftible secuities arc held by an associate of a KMP, inseft the name of the associate in "Name of rcgistered holdef'.
	Name of KMP [200 characters] lva	Name of registered holder [200 characterc]		Number of options being exercised or other +convertible securities being converted [1 6 characters]
2.2d.1	Please stiate the number and type of unquoted partly paid +securities (including their ASX security code) that have been fully paid up and that are now to become quoted on ASX An\$ et this question it your response to Q2.1 is "Padly paid secuiti\$ that have been fully paid up and are now to become quoted fully paid secuities".		N/a
2.2d.2	And the date the +securities were fully paid up Answer this question il your response to Q2.1 is "Padly paid secuites that have been fully pdid up and arc now to become quoted fu y paid secuities"- Note: lf this occuffed over a rcnge ot dates, entet the date the last of the sewrities was fully paid up.		N/a

2.2d.3	ls this all of the partly paid +securities on issue of that type (ie have all of those partly paid securities now been fully paid up)? Answer this question if your response to Q2.1 is "Unquoted paftly paid secuities that have been tuv paid up and are now to become quoted fully paid securities".	Yes or No N/a Note: ll you have answered 'No", consider whether you need to lodge an Appendix 3H with ASX notMng ASX of fhe cessatbn of some or all of the remaining padly paid secudties undet Listing Rule 3.10.E. This may the case, for example, if partly paid securities that have not had the call paid by the due date will be cancelled- ff you are an NL company, consider alao Mether you have notification obligations in relation to any foieiture of the patw paid secuities not paid up under Listing Rule 3.12.
2.2e.1	Please state the number and type of +restrlcted securities (including their ASX security code) where the escrow period has expired or is about to expire Answerthis question if you response to Q2.1 is "Restdcted secuities where the escrow petiod has expied or is about to expire"-	275,000 ordinary fully paid shares (DAL)
2.2e.2	And the date the escrow restrictions have ceased or will cease Answer this question if your response to e2.1 is "Restided secuities where the escrow period has exphed or is about to expire". Note: lf this o@uned over a range of dates, enter the date the last of the escrow restictions has ceased or will cease.	21 May 2022
2.2f .1	Please state the number and type of +securities (including their ASX security code) previously issued under the +employee incentive scheme where the restrictions on transfer have ceased or are about to cease Answer this question if your rcsponse to e2.1 is "Securities proviously issued under an employee incentive scheme wherc the restrictions on transfet have ceased or are about to cease"_	N/a
2.2t.2	And the date the restrictions on transfer have ceased or will cease: Answer this question if you response to e2j is 'Securities prcviously issued under an employee incantive scheme where the restuictions on transfer have ceased or arc about to cease". Note: lf this occuned ovet a rcnge of dates, enter the date the last of the restrictions on transfer has ceased orwill@ase.	N/a
2.29.1	Please state the number and type of +securities (including their ASX security code) issued under the +employee incentive scheme that are not subject to a restriction on transfer or that are to be quoted notwithstanding there is a restriction on transfer Answer this question if your response to e21 is "Secudties isaued undet an employee incentive scheme that are not subject to a rcstiction on transfet ot that are to be quoted nolwithstanding there is a restiction on transfe /.	N/a

2.2g.2	*Please attach a document or provide details of a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms. Answer this question if your response to Q2.1 is		N/a
	"Securities issued under an employee incentive scheme that are not subject to a restriction on transfer or that are to be quoted notwithstanding there is a restriction on transfer".
2.2g.3	*Are any of these +securities being issued to +key management personnel (KMP) or an +associate		N/a
	Answer this question if your response to Q2.1 is "Securities issued under an employee incentive scheme that are not subject to a restriction on transfer or that are to be quoted notwithstanding there is a restriction on transfer".
2.2g.3.a	*Provide details of the KMP or +associates being issued +securities.
	registered holder".	Answer this question if your response to Q2.1 is "Securities issued under an employee incentive scheme that are not subject to a restriction on transfer or that are to be quoted notwithstanding there is a restriction on transfer" and your response to Q2.2g.3 is "Yes". Repeat the detail in the table below for each KMP involved in the issue. If the securities are being issued to the KMP, repeat the name of the KMP or insert "Same" in "Name of registered holder". If the securities are being issued to an associate of a KMP, insert the name of the associate in "Name of
	Name of KMP			Number of +securities
	[200 characters]	Name of registered holder [200 characters]		[16 characters]
	N/a
2.2h.1	*Were the +securities issued for a cash consideration? Answer this question if your response to Q2.1 is		N/a
	"Other". If the securities are being issued for nil cash consideration, answer this question "No".
2.2h.1.a	*In what currency was the cash consideration paid?		N/a
	Answer this question if your response to Q2.1 is "Other" and your response to Q2.2h.1 is "Yes". For example, if the consideration is being paid in Australian Dollars, state AUD.
2.2h.1.b	*What was the issue price per +security		N/a
	Answer this question if your response to Q2.1 is "Other" and your response to Q2.2h.1 is "Yes", and by reference to the issue currency provided in your response to Q2.2h.1.a.
	Note: you cannot enter a nil amount here. If the securities are being issued for nil cash consideration, answer Q2.2h.1 as "No" and complete Q2.2h.1.c.
2.2h.1c	Please describe the consideration provided for the +securities		N/a
	Answer this question if your response to Q2.1 is "Other" and your response to Q2.2h.1 is "No".
2.2h.1d	Please provide an estimate (in AUD) of the value of the consideration provided per +security for the +securities to be quoted		N/a
	Answer this question if your response to Q2.1 is "Other" and your response to Q2.2h.1 is "No".

Application for quotation of +securities

2.2h.2	-The purpose(s) for which the entity is issuing the +securities is: Answet this question if you rcsponse to Q2- 1 is "Othel'. You may select one or morc of the items in the list.	tr To raise additional working capital ! To fund the retirement of debt n To pay for the acquisition of an asset lp rov ide deta il s be lowl tr To pay for services rendered lprovide details belowl n Other lprovde details belowl Additional details:
2.2h.3	*Please provide any further information needed to understand the circumstances in which you are applying to have these +securities quoted on ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B You musl answet this question if your response to Q2. 1 is 'Othef'. ll there is no other infonation to provide, please answer "Not applicable" o. "M4".	N/a
l.lt	*Have these +securities been offered under a +disclosure document or +PDS? Answer this question if your response to Q2.1 is 'Othe/'.	N/a
2.2i.1	'Date of +disclosure document or +PDS? Answer this question if your respon& to Q2.1 is 'Othet'' and your responsc to Q2.2i is "Yes". Under the Coeorations Act, the entity must apply fot quotation of the secuities within 7 days of the date ol the disclosurc documeht or PDS.	N/a

2.3	*Any on-sale of the +securities to be quoted within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) ofthe Corporations Act by virtue of. Answer this question if your response lo Q2.1 is 'Othef' and your response to Q2.2i is "No". Note: Under Appendix 2A of the Listing Rules, when the entity applies fot quotation of secuities, it gives a wafianty that an oftq of the secuities lor sale within 12 months after their issue will not rcquie di&losure under section 707(3) or 1012C(6) of the Coryorations Act. ff you are ih any doubt as lo the application af, or the enfity\ capacity to give, this waffanty, please see ASIC Regulatory Guide 173 Disclosure for on-sale of secuilies and other financial prcducts and consult your legal adviser.	!	n The publication of a +disclosure document or +PDS for the +securities to be quoted n The publication ofa cleansing notice under section 708A(5), 708AA(2X0, 1012DA(5) or 1012DAA(2Xf) n The publication of a +disclosure document or +PDS involving the same class of securities as the +securities to be quoted that meets the requirements of section 708A(11) or 1012DA(1 1) An applicable ASIC instrument or class order n Not applicable - the entity has arrangements in place with the holder that ensure the securities cannot be on sold within 12 months in a manner that would breach section 707(3) or 1012C(6) Note: Absent relief from ASIC, a listed entity can only issue a cleansing notice where tradinq in the rclevant secuities has not been suspended for morc than 5 days duing the shoiet of: (a) the peiod duing which the class of aecuiti\$ arc quoled; and (b) the peiod of 12 months before the date on which the relevant secudties under the otrer were issued.
2.4	*The +securities to be quoted are Tick whichevet is applicable		X Additional +securities in a class that is already quoted on ASX ("existing class")
			tr New +securities in a class that is not yet quoted on ASX ("new class")

Part 3A - number and type of +securities to be quoted (existing class or new class) where issue has previously been notified to ASX in an Appendix 38

Answet the questions in this Patt if your respon\$e to Q2.1 is "Secudtbs issued as paft ol a trcnsaction ot trdnsactions previously annourped to the matuet in an Appendix 38".

Question No.	Question		Answer
34.1	*ASX security code & description		N/a
34.2	"Number of +securities to be quoted		N/a
34.3	Any other information the entity wishes to provide about the +securities to be quoted		N/a
3A.4	'Provide a distribution schedule for the new +securities according to the categories set out in the left hand column - including the number of recipients and the total percentage of the new +securities held by the recipients in each category.
	Number of +securities held	Number of holders		Total percentage of +securities held
	'l - 1,000
	1,001 - 5,000
	5,00'l - 10,000
	10,001 - 100,000
	100,001 and over
	Answer this question only if you are an ASX Listing (ASX Forcign Exenpt Lrbrhgs ard ASX Debt Listings do not have to answer this questbn), your response to Q2.4 is "new class" aird the secuities to be quoted haw altedy been issued.
	Note: if the secudties to be quoted have not yet been issued, under listing rule 3.10.5, you will need to provide to ASX a hst of the 20 laeest recipients ot the new aecuities, aN the number and percentage of the new secuities Eceived by each of those reaipients, and a distibution schedule for the secuities wheo they ao issued.

Part ³⁸- number and type of +securities to be quoted (existing class) where issue has not previously been notified to ASX in an Appendix 3B

Anawer the questions in this Part if your rcsponse to Q2.1 is anything other thdn "Secuities issued as paft of a transaction ot tnnsactions previously announced to the mar*et in an Appendix 38" and your response to Q2.4 is "existing class". tf your response lo Q2 , is 'Securrt es ,ssued, transfened or rc-classilied as a rcsult ol optbns being exercised or othet conveiible securities being convefted", the questiorc in this paft reldte to the secuities being issued, trcnstened ot reclassilied as a result of the exercise of the options or the conversion of the conveiible securities. If your response to Q2.1 is "Unquoted patlly paid secuities that have been fu y paid up and are now to become quoled fully paid securities", the questions in this patt relate to the fu y paid secuities arising ftum that payment up. OlheMise, the questions in this patt elate to the secuities issued by the entily whbh are to be quoted on ASX and which are descibed in the rcsponse to Q2. 1 .

Question No.	Question	An6wer
3B.1	*ASX security code & description	DAL
38.2	*Number of +securities to be quoted	275,000
3B.3a	*Wll the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class?	Yes
38.3b	*ls the actual date from which the +securities will rank equally (non-ranking end date) known? Answer this question if your r€sporse to Q38.3a r:s "No"_	N/a
38.3c	*Provide the actual non-ranking end date	N/a
	Answer this question if your response to Q3B.3a is "No" and your rcsponse to Q38.3b is 'Yes'l
38.3d	*Provide the estimated non-ranking end period Answer this question if your response to Q3B.3a is "l,to" and your response fo Q3B.3b is 'l'Jo'i	N/a
38.3e	*Please state the extent to which the +securities do not rank equally:	N/a
	. in relation to the next dividend, distribution or interest payment; or
	. for any other reason Answer this question if your response to Q3B.3a is
	For et@mple, the securities may not ank al all, or may rank prcpoftionately based on the percentage of the peiod in question they have been on issue, for the next dividend, disttibution or intercst payment; or they may not be entitled to pafiicipate in some olhet event, such as an entitlement issue.
38.4	Any other information the entity wishes to provide about the +securities to be quoted	No

Part 3C - number and type of +securities to be quoted (new class) where issue has not previously been notified io ASX in an Appendix 3B

Answer.the questions in this Pad if yout response.to Q2.1 is anything othet than "secudties issued as paft of a tansaction or transactions previousrv announced to the matke.t in an eppena* sa; ind yiii r""por"" o qz.t i" "n"i itiii".i ioii iipor"" ro Q2' ' 'b "secu,lies ,ss ued transfeted ot re-ctassnea ais a resitt oiiptLi biing exercisea or otnet convettibte secuities being conveled the questions in this pad relate to the securiti;l i"rd""r"i, rur"rr ted or reclassified as a resutt of the exercise ol the options or th6 convercion of the convertibre secuities. i yiiiisponse o qz.t is ,unquotea paitiii;; "' secu-ities that have been futlv paid up and are now to become quotaa iltty paiiZecurities',, tne questbii ii [is'i{iiut" to the ruttv paid secudties arising from that p.ayment up. otherwi;. tn, qriiuiiiii t i" p",t nt.t"'a iii iZiriii"{ii*iii tn" entity whoh arc to be quoted on ASX and which are des{;ibed in the'rc"pori" i, qZ. l.

Question No.	Question	Answer
3C.1	*Security description	N/a
3C.2	*Security type Select one item from the list that best describes the securities the subject of this form. This will determine more detailed questions to be asked about the security later in this section. Select "ordinary fully or partly paid shares/units" for stapled securities or CDIs. For interest rate securities, please select the appropriate choice from either "Convertible debt securities" or "Non-convertible debt securities". Select "Other" for performance shares/units and performance options/rights or if the selections available in the list do not appropriately describe the security being issued.	□ Ordinary fully or partly paid shares/units $\Box$ Options $\Box$ + Convertible debt securities $\Box$ Non-convertible +debt securities $\Box$ Redeemable preference shares/units $\Box$ Wholesale debt securities $\Box$ Other
3C.3	ISIN code Answer this question if you are an entity incorporated outside Australia and you are seeking quotation of a new class of securities other than CDIs. See also the note at the top of this form.	N/a
3C.4	*Number of +securities to be quoted	N/a
3C.5a	*Will all the +securities issued in this class rank equally in all respects from the issue date?	N/a
3C.5b	*Is the actual date from which the +securities will rank equally (non-ranking end date) known? Answer this question if your response to Q3C.5a is "No".	N/a
3C.5c	*Provide the actual non-ranking end date Answer this question if your response to Q3C.5a is "No" and your response to Q3C.5b is "Yes".	N/a
3C.5d	*Provide the estimated non-ranking end period Answer this question if your response to Q3C.5a is "No" and your response to Q3C.5b is "No".	N/a

3C.5e	*Please state the extent to which the +securities do not rank equally:		N/a
	. in relation to the next dividend, distribution or interest payment; or
	. for any other reason
	Answer this queslion if your /esponse to Q3C.5s is
	For example, the secuifies may not rank at all, ot may nnk opotiiondtely based on the percentage of the peiod in guestion they have been on issue, fot the next divided, distibution or interest payment: or tlpy may not ba entitled to pafticipate in some other event, such as an entitlement issue.
JU,b	Please attach a document or provide a URL link for a document lodged with ASX setting out the material terms of the +securities to be quoted You may cross-reference a disclosure document, PDS, information memorandum, investor prcsenlation ot other announcement with this intomation prcvided it has been released to the ASX Matl <et announcements<="" td="">		N/a			N/a
	Platfom.
Jt./	tHave you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1?		N/a
	Answerthis question only if you are an ASX Listing. (ASX Foreign Exempt Listings and ASX Debt Listings do not have to answerthis question).
	lf your response is "No" and the secudties have any unusual tems, you should approach ASX as soon as possible for conlimation under listing rule 6. 1 that the tems arc aw@priate and equitabte.
3C.8	*Provide a distribution schedule for the new +securities according to the categories set out in the left hand column - including the number of recipients and the total percentage of the new +securities held by the recipients in each category.
	Number of +securities held	Number of holders		Total percentage of +securities held
	1 - 1,000
	'l,001 - 5,000
	5,001 - 10,000
	10,001 - 100,000
	100,001 and over
	Answer this question only if you are an ASX Listing (ASX Foreign Exempt Listings dnd ASX Debt Listings do not have to answer this question) and the secuities to be quoted have aheady been issued I'lote: if the secuities lo be quoted have not yet been issued, undet listing rule 3.10.5, you will need to ptovide to ASX a list of the 20 latgest recipients of the new +secuities, and the number and percentage d the new +securities received by each of those recipients, and a disttibution shedule fot the secuities when they arc ,ssued
3C.9a	Ordinary fully or partly paid shares/units details Answet the questions in this section if you selected this secuity type in your rcsponse to Question 3C.2
	*+Security currency		N/a
	This is the cunency in which the face amount ol an issue is denominated. lt wi also typica y be the cunency in which distibutions are declarcd.
	*Wll there be CDls issued over the + secu rities?		N/a

	"CDl ratio Answer this question if you ans,t/ered "Yes" to the previous question. This is the ratio at which CDls can be transmuted into the undedying secuity (e.9. 4:1 means 4 CDls represent 1 unde ying secuity whereas 1:4 means 1 CDI represents 4 undedying securities).	X:Y
	-ls it a partly paid class of +security?	Yes or No
	.Paid up amount unpaid amount Answet this question if answered yes" to the previous question.	X:Y
	The paid up amount represents the amount of application money and/or calls which have been paid on any secuity considered 'padly paid'
	The unpaid amount rcpresents the unpaid ot yet to be called amount on any secuity considered 'padly paid'.
	The anounts should be provided per the secuity curency (e.q. if the secuiv cunency is AUD. then the paid up and unpaid amount per secuity in AUD).
	'ls it a stapled +security?	Yes or No
	This is a securv class that comptises a number of otdinaty shales an or ordinary units issuad by separate entities that are stdpled together for the puposes oftrading
3C.9b	Option details
	Answer the questions in this section if you selected this securw type in your rcsponse to euestion 3C.2
	*+Security currency	N/a
	This is the cunency in which the exercise price is payable.
	*Exercise price	N/a
	The pice at which each option can be exercised and convei into the underlying secuily.
	The exeEise pnice should be prcvided per the security curency (i.e. if the security cuffency is AUD, the exercise pice should be expressed in AUD).
	"Expiry date	N/a
	The date on whd lhe options expire or teminate.
	"Details of the number and type of	N/a
	+security (including its ASX security code if the +security is quoted on ASX) that will be issued if an option is exercised

3C.9c	Details of non-convertible +debt securities, +convertible debt aecurities, or redeemable preference shares/units
	Answet the questions in this section if you selected one of these secuity types in your response fo Queslrb, 3C.2.
	Refer to Guidance Note 34 and the 'Guide to the Namino C	Debt and Hvbid Secuities" for fuihet infomation on ceftain tetms used in this section
	Type of +security	! Simple corporate bond
	Select one it6m from the list	tr Non-convertible note or bond
		! Convertible note or bond
		I Preference share/unit
		E Capital note
		tr Hybrid security
		tr Other
	*+Security currency	N/a
	This is the cuffency in which the face value of the secuity is denominated. lt wi also typically be the cutency in which intercst ot distibutions are paid.
	Face value	N/a
	This is the pincipal anount of each secudty.
	The face value should be provided per the secuity cwency (i.e. if secuity cutrency is AUD, then the face value per secuity in AUD).
	*lnterest rate type	n Fixed rate
	Select orlP. item ftom the list Selecl the appropiate interest or dividend ftte type	tr Floating rate
	pet the terms of the secuity. Delinitions for each type are provided in the Guide to the l,lamitq Conventions	n lndexed rate
	and Security Descriptions fot ASX Quoted Debt and	tr Variable rate
	Hybtid Secudies	n Zero coupon/no interest or drvrdend
		tl Other
	Frequency of coupon/interesydividend payments per year	tr Monthly
	Select one item from the list.	n Quarterly
		n Semi-annual n Annual
		n No coupon/interest payments
		n Other
	First interesudividend payment date A Esponse is not @quired if you hev6 selected "No	M
	coupory'interest pawerls" r,h resporse to t e guestion above on the fr€quency of coupon/interest payments
	lnteresudividend rate per annum	o/o p.a.
	Answerthis question if the interest rate type is fixed.
	*ls the interesudividend rate per annum estimated at this time?	Yes or No
	Answer this question if the interest rate type is fixed.

lf the interesudividend rate per annum is N/a estimated, then what is the date for this information to be announced to the market (if known) Answer this question if the intercst hte We is fixed and your response to the prewous guesrbn /s Yes'l Answer "Unknown" it the date is not known at this tme. 'Does the interest rate include a reference Yes or No rate, base rate or market rate (e.9. BBSW or CPI)? Answet this question if the intercst rate type is floating or indexed. .What is the reference rate, base rate or N/a market rate? Answet this question if the interest rute type is floating or indexed and your response to the previous guesfio, is "Yes". Does the interesudividend rate include a Yes or No margin above the reference rate, base rate or market rate? Answer this question if the interest rate type is floating or indoxed. .What is the margin above the reference o/o P.a rate, base rate or market rate (expressed as a percent per annum) Answer this questjon if the interest rcte type is floating or indexed and your respohse to the previous question is "Yes". -S128F ofthe lncome Tax Assessment lJ s128F exempt Act status applicable to the +security ! Not s128F exempt Select one item from the list E sl28F exemption status unknown For tinancial products which arc likely to give ise to a tr Not applicable payment to wllich s128F of the lraome Tax Assessment Act applieq ASX reguesrs lssuers fo confrm the s128F status of the secutv: . 's128F exemp?' means interest payments arc not tax able to non-re sidents: . "Not s12EF exempf meana interest payments are tax able to non-re sidents; . "s128F exemption status unknown" means the issuer is unable to advise the status: . "Not applicable" means s128F is not applicabte to this secuity ls the +security perpetual (i.e. no maturity Yes or No date)? 'Maturity date N/a Answet this question if the secutv is not petpetual

	*Select other features applicable to the +security	Simple □
	Up to 4 features can be selected. Further information	Subordinated IJ
	is available in the Guide to the Naming Conventions and Security Descriptions for ASX Quoted Debt and	Secured $\Box$
	Hybrid Securities.	Converting ш
		Convertible U
		Transformable П
		Exchangeable $\Box$
		Cumulative $\mathbf{L}$
		Non-Cumulative П
		Redeemable $\Box$
		Extendable L.
		Reset H
		□ Step-Down
		$\Box$ Step-Up
		Stapled ப
		None of the above
	*Is there a first trigger date on which a	Yes or No
	right of conversion, redemption, call or put can be exercised (whichever is first)?
	*If yes, what is the first trigger date	N/a
	Answer this question if your response to the previous question is "Yes".
	Details of the number and type of +security (including its ASX security code if the +security is quoted on ASX) that will be issued if the +securities to be quoted are converted, transformed or exchanged (per 1 new +security)
	Answer this question if the security features include "converting", "convertible", "transformable" or "exchangeable".
	For example, if the security can be converted into 1,000 fully paid ordinary shares with ASX security code ABC, please insert "1,000 fully paid ordinary shares (ASX:ABC)".
3C.9d	Details of wholesale debt securities
	Answer the questions in this section if you selected this security type in your response to Question Q3C.2.
	Refer to Guidance Note 34 and the "Guide to the Naming Conventions and Security Descriptions for ASX Quoted Debt and Hybrid Securities" for further information on certain terms used in this section
	CFI	N/a
	FISN	N/a
	*+Security currency	N/a
	This is the currency in which the face value of the security is denominated. It will also typically be the currency in which interest or distributions are paid.
	Total principal amount of class	N/a
	Face value	N/a
	This is the offer / issue price or value at which the security was offered on issue.

	Number of +securities This should be the total Nincipal amount of class diided by the face value	N/a
	*lnterest rate type Selecl the appropiate interest rate type per the tems of the secuity. Definitions for each lype aE provided in the Guide to the Naming Conventiona and Secutry Oosciptions for ASX Quoted Debt and Hybid Secur'tes	tr Fixed rate tr Floating rate ! Fixed to floating tr Floating to fixed
	*Frequency of coupon/interest payments per year Select one item hom the list. The number ot interest pa@enb b be made per year for a wholesale debt security.	tr Monthly tr Quarterly [] Semi-annual E Annual tr No payments
	'First interest payment date A rcsponse is not required if you have selected 'No pawents" in response to the question above on the fteque ncy of coupon/intere st pay ments.	N/a
	*lnterest rate per annum A rcsponse is not required if you have s9lected "No payients" in response to lhe question above on the frequency of coupon/interest payments. The rate represents the total rate for the first pawent peiod which may include a rcference ot base rate plus a maryin rate and other adjustnent factots wherc applicable, stated on a per annum basis. lf the rate is onty an es[mate at this time please enter an indicative nte and prcvide the actual rate once it has become available.
	*Maturity date The date on which the secuity matures.	N/a
	Class type description	N/a
	'S128F of the lncome Tax Assessment Act status applicable to the +security Setect one iten hom the list Fot financial prcducts which arc likely to give dse to a payment to which s1 zEF ot the lncome Ta, Assessment Act applies, ASX reguesfs issuers to @nfim the s128F status of the secuity: . "s128F exempt" means interest payments are not tax able to non-re sidents; . "Not s128F exempf' means interest payments are taxable to non-residents: . "s128F exemption slatus unknown" means the issuet is unable to adviae the status: "l,lot applicable" means s128F is not applicable to this securW	tr s128F exempt tr Not s128F exempt tr s128F exemption status unknown tr Not applicable
3C.10	Any other information the entity wishes to provide about the +securities to be quoted	N/a

Part ⁴- lssued capital following quotation

Following the quotation of the +securities the subject of this application, the issued capital of the entity will comprise:

the entity.	Note: the figures provided in the tables in sections 4.1 and 4.2 below arc used to calgulate the total maket capitalisation of the entity published by ASX from time to time. Pleaae make sure you include in the relevant table each class of securities issued by
ff you have quoted CHESS Depository /nferests (CDls) issued ovet your securities, include them in the table in section 4.1 and include in the table in section 4.2 any secuities that do not have CDls issued ovet them (and thereforc are not quoted on ASX). Resfflbted secu[tles should only be included in the table in section 4.1 if you arc applying to have them quoted because the
4.1	escrow peiod for the secuities has expired or is about to expire. Otherwise include them in the table in section 4.2. *Quoted +securities (total number of each +class of +securities quoted on ASX following the +quotation of the +securities the subject of this application)
	ASX security code and description	Total number of +securities on issue
	Ordinary Fully paid shares (DAL)	27,475,000
4.2	*Unquoted +securities (total number of each +class of +securities issued but not quoted on ASX):
	ASX security code and description	Total number of +securities on issue
	Ordlnary Fully paid shares (DAL) - escrow to 24 May 2022	900,000
	Ordinary Fully paid shares (DAL) - escrow to 27 May 2022	1,500,000
	Ordinary Fully paid shares (DAL) - escrow to 28 September 2022	24,125,000
	Options (\$0.25 exercise, expiring 28 September 2024)	5,000,000
	Options (\$0.30 exercise, expiring 28 September 2025 & escrowed to 28 September 2023)	8,000,000

Part 5 - Other Listing Rule requirements

The questions in this Paft should only be answered if you are an ASX Listing (ASx Forcign Exempt Listings and ASx Debt Listings do not need to complete this Pad) and you response to Q2.1 is:

• "SecurT,es ,ssred under a dividend/distribution plan";

• "Secur'fies ,lssued under an employee incentive &heme that are not subkct to a restuiction on transfet ot that are to be quoted notwithstanding therc is a restriction on transfef'; ot

• "Othet''.

Note that tf your rcsponse to Q2.1 ls'Securlties issued as pafi of a transaction ot transactions previously announced to the na*et in an Appendix 38", it is assumed that you will have pmvided the infomation refened lo in this Pafi in the Awendix 38.

This appendix is available as an online form Appendix 2A

Question No.	Question	Answer
5.1	*Are the +securities being issued under an exception in Listing Rule 7.2 and therefore the issue does not need any security holder approval under Listing Rule 7.1?	N/a
5.1a	Enter the number of the applicable exception in Listing Rule 7.2 Answer this guestion is your response to Q5-1 is "Yes" l,,lote this should be a numbet between 1 and 17.	N/a

'Does the +dividend or distribution plan 5.1a.1 N/a meet the requirement of listing rule 7.2 exception 4 that it does not impose a limit on participation? Answet this question if your responsF- to Q5-1 is "Yes" and yau rcsponse to Q5. 1 a is "4". Note: Exception 4 only applies where secuity holders arc able to elect to receive all of their dividend ot distibution as secuities. Forexample, Exception 4 would not apply in the lollowing circumslances: 1) The entity hds s@cified a doll limit on the level of pafticipation e.g. secuity holderc can only paiicipate to a maximum value of \$\ in respect of theit enti ement, ot 2) The entity has specified a naximum number of secunties that can paftb.ipate in the plan e-9. secuiu holders can only receive secuities in lieu of dividend payable fu x number of secutities. 'Has the entity obtained, or is it obtaining, N/a +security holder approval for the issue under listing tule 7.1? Answet this question if the response to Q5.1 is "No"- 'Date of meeting or proposed meeting to 5.2a N/a approve the issue under listing rule 7.1 Answer this question if the response to Q5. 7 ,:s "No" aN the rcsponse to Q5.2 is "Yes". "Are any of the +securities being issued 5.2b N/a without +security holder approval using the entity's 15% placement capacity under listing rule 7.1 ? Answer this guestion if the response to Q5.1 is "No" and the response to Q5.2 is "1,,1o". How many +securities are being issued 5.2b 1 N/a without +security holder approval using the entity's l5% placement capacity under listing rule 7.1? Answer this question if the response to Q5.1 is "No", the resporse to Q5.2 ,:s "No" and the response to Q52b is 'Yesi lfthe response to Q5.2b is "Yes", please cofiplete and separataly send by email to your ASX listings compliance adviser a wotu sheet in the totm of Annexure B to GuidatDe Note 21 conliming the entity has the available capacw under listing rule 7.1 to issue that number of securities. Are any of the +securities being issued nla 5.2c without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.14 (if applicable)? Answer this question if the /esporse fo Q5.r,s "/Vo" and the response to Q5.2 is "No".

5.2c.1	*How many +Securities are being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7. lA?	N/a
	Answer this question if the rcsponse to Q5.1 is "No", tl,e response to Q52 is 'No" and the rcsponse to Q5.2c,s "Yes'l
	ff the rE.apone' to Q52c is 'yes", pleese complete and separately send by email to yout ASX listings compliance adviaer a wo* sheet in the form of Annexure C to Guidance Note 21 confiming the entv has the available capacity undet lbting rule 7.1Ato issue that number of secudties.

lntroduced 01h2/19: amended 31101f2O; OSn6f21