DREADNOUGHT RESOURCES LTD — Share Issue/Capital Change 2023

Dec 4, 2023

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

==> picture [21 x 22] intentionally omitted <==

Announcement Summary

Entity name

DREADNOUGHT RESOURCES LTD

Date of this announcement

Tuesday December 05, 2023

The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

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	Class D Performance Rights Expiring 31	4,375,000	04/12/2023
to be confirmed	December 2025
New class - code	Class E Performance Rights Expiring 31	4,375,000	04/12/2023
to be confirmed	December 2025
New class - code	Class F Performance Rights Expiring 31	4,375,000	04/12/2023
to be confirmed	December 2025
New class - code	Class G Performance Rights Expiring 31	4,375,000	04/12/2023
to be confirmed	December 2025

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

1 / 13

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

==> picture [21 x 22] intentionally omitted <==

Part 1 - Entity and announcement details

1.1 Name of entity

DREADNOUGHT RESOURCES LTD

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ACN

Registration number

119031864

1.3 ASX issuer code

DRE

1.4 The announcement is

==> picture [8 x 8] intentionally omitted <==

New announcement

1.5 Date of this announcement

5/12/2023

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

2 / 13

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

==> picture [21 x 22] intentionally omitted <==

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

==> picture [8 x 8] intentionally omitted <==

does not have an existing ASX security code ("new class")

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

3 / 13

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

==> picture [21 x 22] intentionally omitted <==

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 issued under an +employee incentive scheme

ASX +security code New class - code to be confirmed	+Security description Class D Performance Rights Expiring 31 December 2025
+Security type	ISIN code
Other

Date the +securities the subject of this notification were issued 4/12/2023

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

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Debra Anne Fullarton	Mrs Debra Anne Fullarton	500,000
Dean Tuck	MR DEAN TUCK + MRS DIANNE MAE TUCK	900,000
Matthew James Crowe	Mr Matthew James Crowe	500,000

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/2924-02729227-6A1175864?access_token=8 3ff96335c2d45a094df02a206a39ff4

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02729227-6A1175864?access_token=8 3ff96335c2d45a094df02a206a39ff4

Any other information the entity wishes to provide about the +securities the subject of this notification

Vest upon the Volume Weighted Average Market Price (as defined in the ASX Listing Rules) over a period of 20 consecutive Trading Days (as defined in the ASX Listing Rules) on which trades in the Company's shares are recorded on

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

4 / 13

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

==> picture [21 x 22] intentionally omitted <==

ASX (20-day VWAP) being at least 10 cents.

The performance rights have been issued to employees and the Managing Director under the employee incentive scheme. Director participation was approved by shareholders at the 2023 Annual General Meeting.

Issue details

Number of +securities

4,375,000

New +securities issued under an +employee incentive scheme

ASX +security code New class - code to be confirmed	+Security description Class E Performance Rights Expiring 31 December 2025
+Security type	ISIN code
Other

Date the +securities the subject of this notification were issued

4/12/2023

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

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Debra Fullarton	Debra Fullarton	500,000
Matthew Crowe	Matthew Crowe	500,000
Dean Tuck	MR DEAN TUCK + MRS DIANNE MAE TUCK	900,000

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

5 / 13

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

==> picture [21 x 22] intentionally omitted <==

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/2924-02729227-6A1175864?access_token=8 3ff96335c2d45a094df02a206a39ff4

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02729227-6A1175864?access_token=8 3ff96335c2d45a094df02a206a39ff4

Any other information the entity wishes to provide about the +securities the subject of this notification

Vest upon the Volume Weighted Average Market Price (as defined in the ASX Listing Rules) over a period of 20 consecutive Trading Days (as defined in the ASX Listing Rules) on which trades in the Company's shares are recorded on ASX (20-day VWAP) being at least 15 cents.

The performance rights have been issued to employees and the Managing Director under the employee incentive scheme. Director participation was approved by shareholders at the 2023 Annual General Meeting.

Issue details

Number of +securities

4,375,000

New +securities issued under an +employee incentive scheme

ASX +security code +Security description New class - code to be confirmed Class F Performance Rights Expiring 31 December 2025 +Security type ISIN code Other

Date the +securities the subject of this notification were issued

4/12/2023

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

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

6 / 13

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

==> picture [21 x 22] intentionally omitted <==

Name of KMP	Name of registered holder	Number of +securities
Debra Anne Fullarton	Mrs Debra Anne Fullarton	500,000
Matthew James Crowe	Mr Matthew James Crowe	500,000
Dean Tuck	MR DEAN TUCK + MRS DIANNE MAE TUCK	900,000

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/2924-02729227-6A1175864?access_token=8 3ff96335c2d45a094df02a206a39ff4

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02729227-6A1175864?access_token=8 3ff96335c2d45a094df02a206a39ff4

Any other information the entity wishes to provide about the +securities the subject of this notification

Vest upon the completion of 12 months continued service from the date of issue of the Performance Rights.

The performance rights have been issued to employees and the Managing Director under the employee incentive scheme. Director participation was approved by shareholders at the 2023 Annual General Meeting.

Issue details

Number of +securities

4,375,000

New +securities issued under an +employee incentive scheme

ASX +security code +Security description New class - code to be confirmed Class G Performance Rights Expiring 31 December 2025 +Security type ISIN code Other

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

7 / 13

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

==> picture [21 x 22] intentionally omitted <==

Date the +securities the subject of this notification were issued

4/12/2023

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

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Debra Anne Fullarton	Mrs Debra Anne Fullarton	500,000
Matthew James Crowe	Mr Matthew James Crowe	500,000
Dean Tuck	MR DEAN TUCK + MRS DIANNE MAE TUCK	900,000

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/2924-02729227-6A1175864?access_token=8 3ff96335c2d45a094df02a206a39ff4

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02729227-6A1175864?access_token=8 3ff96335c2d45a094df02a206a39ff4

Any other information the entity wishes to provide about the +securities the subject of this notification

Vest upon the completion of 24 months continued service from the date of issue of the Performance Rights.

The performance rights have been issued to employees and the Managing Director under the employee incentive scheme. Director participation was approved by shareholders at the 2023 Annual General Meeting.

Issue details

Number of +securities

4,375,000

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

8 / 13

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

==> picture [21 x 22] intentionally omitted <==

==> picture [540 x 710] intentionally omitted <==

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

9 / 13

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

==> picture [21 x 22] intentionally omitted <==

==> picture [540 x 710] intentionally omitted <==

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

10 / 13

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

Part 4 - +Securities on issue

==> picture [21 x 22] intentionally omitted <==

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
DRE : ORDINARY FULLY PAID	3,456,945,300
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
DREAQ : OPTION EXPIRING 09-OCT-2025 EX $0.094	6,000,000
DREAJ : OPTION EXPIRING 11-AUG-2024 EX $0.06	2,000,000
DREAD : OPTION EXPIRING 30-JUN-2024 EX 0.5C	1,500,000
DREAA : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES	30,000,000
DREAM : OPTION EXPIRING 16-DEC-2025 EX $0.1575	853,098
DREAK : OPTION EXPIRING 26-NOV-2024 EX $0.06	2,000,000
DREAI : OPTION EXPIRING 02-JUL-2024 EX $0.04	12,100,000
DREAO : OPTION EXPIRING 02-MAR-2026 EX $0.12	1,223,151
DREAP : OPTION EXPIRING 14-JUN-2026 EX $0.075	2,000,000
DREAL : OPTION EXPIRING 14-JUL-2025 EX $0.065	8,500,000
New class - code to be confirmed : Class D Performance Rights Expiring 31 December 2025	4,375,000
New class - code to be confirmed : Class E Performance Rights Expiring 31 December 2025	4,375,000
New class - code to be confirmed : Class F Performance Rights Expiring 31 December 2025	4,375,000

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

11 / 13

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

4,375,000

==> picture [21 x 22] intentionally omitted <==

New class - code to be confirmed : Class G Performance Rights Expiring 31 December 2025

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

12 / 13

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

==> picture [21 x 22] intentionally omitted <==

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? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

13

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

13 / 13