EQ RESOURCES LIMITED — Capital/Financing Update 2024

May 28, 2024

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Announcement Summary

Entity name

EQ RESOURCES LIMITED

Date of this announcement

Wednesday May 29, 2024

The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and 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	EQRAS (Broker): OPTION EXPIRING	20,000,000	28/05/2024
to be confirmed	29-MAY-2027 EX $0.0675

Refer to next page for full details of the announcement

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Appendix 3G - 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

EQ 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 Registration number ACN 115009106

1.3 ASX issuer code

EQR

1.4 The announcement is

New announcement

1.5 Date of this announcement

29/5/2024

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Previous Appendix 3B details:

Announcement Date and	Announcement Title	Selected Appendix 3B to submit quotation
Time		request
23-May-2024 16:41	Update - Update - Proposed issue of	A placement or other type of issue
	securities - EQR

2.3a.2 Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B?

Yes

2.3a.3 Please provide details of the further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B

Further issue of:

• 5,111,111 EQRAQ (Directors): OPTION EXPIRING 29-MAY-2027 EX $0.0675

• 39,304,733 EQRAR (Loan): OPTION EXPIRING 29-MAY-2027 EX $0.0675

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Part 3A - number and type of +securities the subject of this notification (existing class or new class) where issue has previously been notified to ASX in an Appendix 3B

Placement Details

ASX +security code and description

new unquoted class of security

Date the +securities the subject of this notification were issued

28/5/2024

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

Pac Partners Securities Pty Ltd to act as Lead Manager and bookrunner who has provided their engagement letter with a management fee equal to 2%, and a selling fee equal to 4%, of the proceeds raised (excluding fees paid on contributions from Directors). An issue of up to 20m options is also proposed on the same terms as those issued under the Capital Raising.

Issue details

Number of +securities

20,000,000

Were the +securities issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

Pac Partners Securities Pty Ltd to act as Lead Manager and bookrunner for the Capital Raising is being issued 20m options under the same terms of the Capital Raising.

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Part 3C - number and type of +securities the subject of this notification (new class)

ASX +security code New class - code to be confirmed	+Security description EQRAS (Broker): OPTION EXPIRING 29-MAY-2027 EX $0.0675	+Security description EQRAS (Broker): OPTION EXPIRING 29-MAY-2027 EX $0.0675
+Security type	ISIN code
Options
Date the +securities the subject of this notification were issued
28/5/2024
Will all the +securities issued in this class rank equally in all respects from their 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
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being
issued. https://www.eqresources.com.au/site/pdf/cf911468-6511-43af-91cf-d02eaccf04b8/Update-Proposed-issue-of-securities-E
QR.pdf
Options Details
+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.06750000	29/5/2027
Details of the existing class of +security that will be issued upon exercise or conversion of this new class of
company option
EQR : ORDINARY FULLY PAID

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

Issue details

Number of +securities

20,000,000

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this notification, the +securities of the entity will comprise:

The figures in parts 4.1 and 4.2 below are automatically generated and may not reflect the entity's current issued capital if other Appendix 2A, Appendix 3G or Appendix 3H forms are currently with ASX for processing.

4.1 Quoted +securities (Total number of each +class of +securities issued and quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
EQR : ORDINARY FULLY PAID	1,858,806,073
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
EQRAO : OPTION EXPIRING 03-JUL-2026 EX $0.10	16,400,000
EQRAA : OPTION EXPIRING 18-JAN-2026 EX $0.10	78,000,000
EQRAJ : OPTION EXPIRING 23-JUN-2024 EX $0.06	10,000,000
EQRAI : OPTION EXPIRING 23-JUN-2024 EX $0.06	12,000,000
EQRAM : OPTION EXPIRING 07-NOV-2025 EX $0.065	19,751,674
EQRAP : CONVERTIBLE NOTES	750,000
EQRAN : OPTION EXPIRING 31-JAN-2026 EX $0.065	1,250,000
New class - code to be confirmed : EQRAS (Broker): OPTION EXPIRING 29-MAY-2027 EX	20,000,000
$0.0675

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

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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