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	190,976,469	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?

17/8/2021

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

Quotation of existing class of Options exercisable at $0.05 expiring 17 September 2024 (EPMAT)

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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

New +securities ASX +security code +Security description New class - code to be confirmed EPMO - Options exercisable at $0.05 expiring 17 September 2024 +Security type ISIN code Ordinary fully or partly paid shares/units

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	9	0.00 %
1,001 - 5,000	129	0.23 %
5,001 - 10,000	93	0.41 %
10,001 - 100,000	332	7.03 %
100,001 and over	149	92.33 %

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Application for quotation of +securities

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Ordinary fully or partly paid shares/units details

+Security currency

AUD - Australian Dollar

Will there be CDIs issued over the +securities? No Is it a partly paid class of +security? No Is it a stapled +security? No

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.

Issue details

Number of +securities to be quoted

190,976,469

Are the +securities being issued for a cash consideration? No Please describe the consideration being provided for the +securities

Quotation of existing class of options

Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted

0.000000

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 Other

Please provide additional details

Quotation of existing class of options

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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	190,976,469
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? Yes

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

16

Application for quotation of +securities

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