EMERALD RESOURCES NL — Share Issue/Capital Change 2023

May 29, 2023

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

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Announcement Summary

Entity name

EMERALD RESOURCES NL

Date of this announcement

Tuesday May 30, 2023

The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

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	Options expiring 13 April 2028 exercisable at	1,000,000	30/05/2023
to be confirmed	$1.94 subject to various vesting conditions
New class - code	Options expiring 16 May 2028 exercisable at	250,000	30/05/2023
to be confirmed	$2.17 subject to various vesting conditions

Refer to next page for full details of the announcement

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Part 1 - Entity and announcement details

1.1 Name of entity

EMERALD RESOURCES NL

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

009795046

1.3 ASX issuer code

EMR

1.4 The announcement is

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New announcement

1.5 Date of this announcement

30/5/2023

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Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

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

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

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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

ASX +security code +Security description New class - code to be confirmed Options expiring 13 April 2028 exercisable at $1.94 subject to various vesting conditions +Security type ISIN code Options Date the +securities the subject of this notification were issued 30/5/2023 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? No Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? Yes Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. Refer ASX announcement 6 October 2020 (Schedule 2). Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 1.94000000 13/4/2028 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option Other Description ASX:EMR 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 Refer ASX announcement 6 October 2020 (Schedule 2). Any other information the entity wishes to provide about the +securities the subject of this notification

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Issue details

Number of +securities

1,000,000 ASX +security code +Security description New class - code to be confirmed Options expiring 16 May 2028 exercisable at $2.17 subject to various vesting conditions +Security type ISIN code Options Date the +securities the subject of this notification were issued 30/5/2023 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? No Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? Yes Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. Refer ASX announcement 6 October 2020 (Schedule 2).

Options Details

+Security currency Exercise price Expiry date AUD - Australian Dollar AUD 2.17000000 16/5/2028

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option Other

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Description

ASX:EMR

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

Refer ASX announcement 6 October 2020 (Schedule 2).

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

Issue details

Number of +securities

250,000

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Part 4 - +Securities on issue

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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
EMR : ORDINARY FULLY PAID	593,836,968
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
EMRAF : OPTION EXPIRING 08-OCT-2025 EX $0.77	525,000
EMRAL : OPTION EXPIRING 14-MAR-2027 EX $1.32	350,000
EMRAH : OPTION EXPIRING 23-FEB-2026 EX $0.95	475,000
EMRAG : OPTION EXPIRING 04-JAN-2026 EX $0.82	600,000
EMRAB : OPTION EXPIRING VARIOUS DATES VARIOUS PRICES	2,400,000
EMRAE : OPTION EXPIRING 30-JUL-2025 EX 67C	5,125,000
EMRAI : OPTION EXPIRING 22-MAR-2026 EX $0.94	350,000
EMRAM : OPTION EXPIRING 14-JUN-2027 EX $1.40	250,000
EMRAD : OPTION EXPIRING 19-MAY-2025 EX 53C	500,000
EMRAK : OPTION EXPIRING 29-JUL-2026 EX $1.09	3,375,000
EMRAC : OPTION EXPIRING 12-MAR-2025 EX 51C	600,000
EMRAJ : OPTION EXPIRING 03-MAY-2026 EX $1.02	150,000
EMRAN : OPTION EXPIRING 17-OCT-2027 EX $1.37	2,300,000

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
New class - code to be confirmed : Options expiring 13 April 2028 exercisable at $1.94	1,000,000
subject to various vesting conditions
New class - code to be confirmed : Options expiring 16 May 2028 exercisable at $2.17	250,000
subject to various vesting conditions

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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

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