EQ RESOURCES LIMITED — Capital/Financing Update 2024

Jan 17, 2024

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

Thursday January 18, 2024

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	OPTION EXPIRING 18-JAN-2026 EX $0.10	78,000,000	18/01/2024
to be confirmed

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

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

ACN

Registration number

115009106

1.3 ASX issuer code

EQR

1.4 The announcement is

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New announcement

1.5 Date of this announcement

18/1/2024

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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 announced in App 3B on 10 Aug 2023. Options issued in relation to the Saloro acquisition

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

New +securities
ASX +security code New class - code to be confirmed	+Security description OPTION EXPIRING 18-JAN-2026 EX $0.10
+Security type	ISIN code
Options
Date the +securities the subject of this notification were issued
18/1/2024
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? No

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02733691-2A1484480

Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.10000000 18/1/2026 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option Other Description Fully Paid Ordinary Shares

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

Options and the shares to be issued upon the exercise of the Options (Option Shares) will be subject to voluntary escrow for a period of twelve (12) months from the Completion Date.

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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Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Options announced in an Appendix 3B on 10 Aug 2023. Options issued in relation to the Saloro acquisition

Issue details Number of +securities 78,000,000 Were the +securities issued for a cash consideration? No Please describe the consideration being provided for the +securities There is no specific incremental consideration being provided for these securities Purpose of the issue Other Additional Details

The options are issued as part of Saloro S.L.U acquisition as announced to the market on 10 Aug 23

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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
EQR : ORDINARY FULLY PAID	1,574,806,073
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
EQRAJ : OPTION EXPIRING 23-JUN-2024 EX $0.06	10,000,000
EQRAI : OPTION EXPIRING 23-JUN-2024 EX $0.06	12,000,000
EQRAF : OPTION EXPIRING 01-FEB-2024 EX $0.04	2,000,000
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
EQRAH : OPTION EXPIRING 25-MAY-2024 EX $0.06	17,000,000
EQRAG : OPTION EXPIRING 19-MAR-2024 EX $0.0432	30,000,000
New class - code to be confirmed : OPTION EXPIRING 18-JAN-2026 EX $0.10	78,000,000

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? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

31/10/2023

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