ENCOUNTER RESOURCES LIMITED — Share Issue/Capital Change 2023

Nov 23, 2023

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

Friday November 24, 2023

The +securities the subject of this notification are: Other

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 $0.556 expiring 23 660,000 24/11/2023 to be confirmed November 2027

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

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

24/11/2023

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

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Other

Please specify

Options issued pursuant to shareholder approval

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 ----- New +securitiesASX +security code +Security descriptionNew class - code to be confirmed Unlisted options exercisable at $0.556 expiring 23November 2027+Security type ISIN codeOptionsDate the +securities the subject of this notification were issued24/11/2023Will all the +securities issued in this class rank equally in all respects from their issue date?YesHave you received confirmation from ASX that the terms of the +securities are appropriate and equitable underlisting rule 6.1?YesPlease provide a URL link for a document lodged with ASX setting out the material terms of the +securities beingissued.https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02728850-6A1175693?access_token=83ff96335c2d45a094df02a206a39ff4Options Details+Security currency Exercise price Expiry dateAUD - Australian Dollar AUD 0.55600000 23/11/2027Details of the existing class of +security that will be issued upon exercise or conversion of this new class ofcompany optionOtherDescriptionOrdinary fully paid share (ENR)Any other information the entity wishes to provide about the +securities the subject of this notificationNonePlease provide any further information needed to understand the circumstances in which you are notifying theissue of these +securities to ASX, including why the issue of the +securities has not been previously announced to----- End of picture text -----

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the market in an Appendix 3B

Issued purusant to shareholder approval at the Company's 2023 annual general meeting

Issue details

Number of +securities

660,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Issued as incentive securities pursuant to shareholder approval for nil consideration

Purpose of the issue

Other

Additional Details

Issued as incentive securities

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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
ENR : ORDINARY FULLY PAID	402,250,781
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
ENRAE : OPTION EXPIRING 28-FEB-2027 EX $0.208	150,000
ENRAO : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES	2,500,000
ENRAB : OPTION EXPIRING 26-NOV-2024 EX $0.222	2,450,000
ENRAD : OPTION EXPIRING 15-JAN-2027 EX $0.283	250,000
ENRAQ : OPTION EXPIRING 30-JUN-2024 EX $0.182	650,000
ENRAV : OPTION EXPIRING 27-MAR-2027 EX $0.175	100,000
ENRAT : OPTION EXPIRING 28-NOV-2025 EX $0.224	3,630,000
ENRAU : OPTION EXPIRING 28-JUN-2026 EX $0.19	1,200,000
ENRAS : OPTION EXPIRING 30-APR-2025 EX $0.212	800,000
ENRAG : OPTION EXPIRING 13-JUL-2027 EX $0.592	400,000
ENRAC : OPTION EXPIRING 30-NOV-2026 EX $0.0268	3,980,000
ENRAH : OPTION EXPIRING 24-JUL-2027 EX $0.677	400,000
ENRAF : OPTION EXPIRING 20-JUN-2027 EX $0.368	200,000

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

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities
ENRAW : OPTION EXPIRING 01-AUG-2027 EX $0.689	400,000
New class - code to be confirmed : Unlisted options exercisable at $0.556 expiring 23	660,000
November 2027

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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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