ECLIPSE METALS LIMITED. — Capital/Financing Update 2022

Sep 18, 2022

Application for quotation of +securities

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Announcement Summary

Entity name

ECLIPSE METALS LIMITED.

Announcement Type

New announcement

Date of this announcement

Monday September 19, 2022

The +securities to be quoted are:

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Other

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
New class - code	EPMO - Options exercisable at $0.05 expiring 17	107,500,000	19/09/2022
to be confirmed	September 2024

Refer to next page for full details of the announcement

Application for quotation of +securities

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Application for quotation of +securities

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Part 1 - Entity and announcement details

1.1 Name of entity

ECLIPSE METALS LIMITED.

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type

ABN

Registration number 85142366541

1.3 ASX issuer code

EPM

1.4 The announcement is

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New announcement

1.5 Date of this announcement

19/9/2022

Application for quotation of +securities

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Application for quotation of +securities

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Part 2 - Type of Issue

2.1 The +securities to be quoted are:

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Other

2.2 The +securities to be quoted are:

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New +securities in a class that is not yet quoted on ASX ("new class")

2.3c Have these +securities been offered under a +disclosure document or +PDS?

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Yes

2.3c.1 Date of +disclosure document or +PDS?

9/9/2022

2.3d 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

Appendix 3B lodged 9 September 2022.

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Application for quotation of +securities

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

3B

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New +securities
ASX +security code +Security description
New class - code to be confirmed EPMO - Options exercisable at $0.05 expiring 17
September 2024
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ASX +security code New class - code to be confirmed		+Security description EPMO - Options exercisable at $0.05 expiring 17 September 2024
+Security type		ISIN code
Options
Issue date
19/9/2022
Will all the +securities issued in this class rank equally in all respects from the issue date?
Yes
Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under
listing rule 6.1?
Yes
Distribution Schedule
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.
		Total percentage of +securities held
Number of +securities held	Number of holders	For example, to enter a value of 50%
		please input as 50.00
1 - 1,000		%
1,001 - 5,000		%
5,001 - 10,000		%
10,001 - 100,000		%
100,001 and over		%

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Application for quotation of +securities

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Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.05000000 17/9/2024 Details of the type of +security that will be issued if an option is exercised EPM : ORDINARY FULLY PAID Number of +securities that will be issued if an option is exercised 1 fully paid share in EPM

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities to be quoted or provide the information by separate announcement. https://www.asx.com.au/asxpdf/20220909/pdf/45dy5h1rjnk8b1.pdf Issue details Number of +securities to be quoted 107,500,000 Are the +securities being issued for a cash consideration? No Please describe the consideration being provided for the +securities Attaching placement options and lead manager broker options. Further information can be found in Prospectus dated 9 September 2022. Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted 0.000001 Any other information the entity wishes to provide about the +securities to be quoted The purpose(s) for which the entity is issuing the securities To raise additional working capital

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Application for quotation of +securities

Part 4 - Issued capital following quotation

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Following the quotation of the +securities the subject of this application, the issued capital 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 on ASX following the +quotation of the +securities subject of this application)

	Total number of
ASX +security code and description	+securities on issue
EPM : ORDINARY FULLY PAID	2,024,256,848
New class - code to be confirmed : EPMO - Options exercisable at $0.05 expiring 17	107,500,000
September 2024

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
EPMAT : OPTION EXPIRING 17-SEP-2024 EX $0.05	190,976,469
EPMAA : OPTION EXPIRING 28-MAY-2024 EX $0.015	62,500,000
EPMAB : OPTION EXPIRING 28-MAY-2026 EX $0.05	32,500,000
EPMAP : CLASS A PERFORMANCE RIGHTS 04-JUN-2024 EX NIL	11,750,000
EPMAR : CLASS C PERFORMANCE RIGHTS 04-JUN-2024 EX NIL	6,750,000
EPMAS : CLASS D PERFORMANCE RIGHTS 04-JUN-2024 EX NIL	6,750,000

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Application for quotation of +securities

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Part 5 - Other Listing Rule requirements

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? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

107,500,000

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

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