ENCOUNTER RESOURCES LIMITED — Share Issue/Capital Change 2022

Jun 29, 2022

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

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Announcement Summary

Entity name

ENCOUNTER RESOURCES LIMITED

Date of this announcement

Thursday June 30, 2022

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	Unlisted options exercisable at $0.19 and expiring	1,200,000	30/06/2022
to be confirmed	28 June 2026

Refer to next page for full details of the announcement

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

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

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Part 1 - Entity and announcement details

1.1 Name of entity

ENCOUNTER RESOURCES LIMITED

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

1.2 Registered number type

ABN

Registration number

47109815796

1.3 ASX issuer code

ENR

1.4 The announcement is

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New announcement

1.5 Date of this announcement

30/6/2022

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

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

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----- Start of picture text ----- ASX +security code +Security descriptionNew class - code to be confirmed Unlisted options exercisable at $0.19 and expiring 28 June2026+Security type ISIN codeOptionsDate the +securities the subject of this notification were issued30/6/2022Will all the +securities issued in this class rank equally in all respects from their issue date?YesWere any of the +securities issued to +key management personnel (KMP) or an +associate?NoHave you received confirmation from ASX that the terms of the +securities are appropriate and equitable underlisting rule 6.1?NoPlease provide a URL link for a document lodged with ASX setting out the material terms of the +securities beingissued.Refer AGM notice lodged with ASX on 27 October 2021 for terms and conditions of the Company's Employee ShareOption Planhttps://www.asx.com.au/asxpdf/20211027/pdf/45265hdg6jchsy.pdfOptions Details+Security currency Exercise price Expiry dateAUD - Australian Dollar AUD 0.19000000 28/6/2026Details of the existing class of +security that will be issued upon exercise or conversion of this new class ofcompany optionOtherDescriptionOrdinary fully paid shares (ENR)----- End of picture text -----

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

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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 AGM notice lodged with ASX on 27 October 2021 for terms and conditions of the Company's Employee Share Option Plan https://www.asx.com.au/asxpdf/20211027/pdf/45265hdg6jchsy.pdf

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

None

Issue details

Number of +securities

1,200,000

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

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Part 4 - +Securities on issue

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
ENR : ORDINARY FULLY PAID	317,216,826
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
ENRAO : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES	4,400,000
ENRAB : OPTION EXPIRING 26-NOV-2024 EX $0.222	2,450,000
ENRAQ : OPTION EXPIRING 30-JUN-2024 EX $0.182	650,000
ENRAT : OPTION EXPIRING 28-NOV-2025 EX $0.224	3,830,000
ENRAP : OPTION EXPIRING 31-OCT-2023 EX $0.162	5,050,000
ENRAS : OPTION EXPIRING 30-APR-2025 EX $0.212	1,000,000
New class - code to be confirmed : Unlisted options exercisable at $0.19 and expiring 28	1,200,000
June 2026

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

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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

13

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