EV RESOURCES LTD — Capital/Financing Update 2024

Oct 28, 2024

29 October 2024

NOTICE UNDER SECTION 708AA(2)(f) OF THE CORPORATIONS ACT 2001

This notice is given by EV Resources Limited (ACN 009 144 503) (ASX: EVR) ( Company ) under section 708AA(2)(f) of the Corporations Act 2001 (Cth) ( Corporations Act ) as notionally modified by ASIC Corporations (Non-Traditional Rights Issues) Instrument 2016/84 ( CI 2016/84 ). References in this notice of the Corporations Act are references to the Corporations Act as modified or amended by CI 2016/84.

The Company has announced its intention to undertake an equity raising of up to approximately $2,094,407 (before costs). The raising comprises a non-renounceable pro-rata entitlement offer of fully paid ordinary shares ( Shares ), on the basis of one (1) new Share for every two (2) Shares held as at 5:00pm AEDT on 4 November 2024 to eligible shareholders with a registered address in Australia, New Zealand, China, Hong Kong, European Union (Germany and Italy), Bahamas and Switzerland ( Entitlement Offer ).

Based on the current capital structure (and assuming no options to acquire Shares ( Options ) are exercised prior to the Record Date) a total of an additional 698,135,743 Shares will be issued if the Entitlement Offer is fully subscribed.

As at the date of this announcement the Company currently has 403,351,964 Options on issue. In order to participate in the Entitlement Offer these Options must be exercised into Shares prior to the Record Date.

Any shortfall under the Entitlement Offer will be dealt with by the Company at its discretion.

For further information about the Entitlement Offer, please refer to the Company’s offer document for the Entitlement Offer pursuant to section 708AA of the Corporations Act, released on the Company’s ASX announcement platform on 29 October 2024 ( Offer Document ).

The Company hereby confirms that in respect of the Entitlement Offer (as per the requirements of paragraph 708AA(2)(f) of the Corporations Act):

• (a) the Company will offer the Shares for issue without disclosure to investors under Part 6D.2 of the Corporations Act;

• (b) the Company is providing this notice under paragraph 2(f) of section 708AA of the Corporations Act;

• (c) as at the date of this notice the Company has complied with:

  • (i) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

  • (ii) sections 674 and 674A of the Corporations Act;

• (d) as at the date of this notice, there is no excluded information of the type referred to in sections 708AA(8) and 708AA(9) of the Corporations Act; and

• (e) the potential effect that the issue of the new Shares pursuant to the Entitlement Offer will have on the control of the Company, and the consequences of that effect, will depend on a number of factors, including investor demand. If all shareholders subscribe for their entitlements, then all shareholders will retain their percentage ownership in the Company, and the issue of Shares under the Entitlement Offer is not expected to have any material effect on the control of the Company.

evresources.com.au 311-313 Hay St Subiaco, Western Australia 6008 +61 (0) 8 6489 0600 info@evresources.com.au

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Given:

(i) the size and pricing of the Entitlement Offer; and

• (ii) the structure of the Entitlement Offer as a pro-rata issue;

the issue of Shares under the Entitlement Offer is not expected to have any material effect or consequence on the control of the Company and it is not expected that any person will acquire voting power of 20% or more in the Company as a result of participating in the Entitlement Offer.

Yours sincerely

EV Resources Limited Louisa Martino Company Secretary

This announcement has been authorised by the Board.

evresources.com.au 311-313 Hay St Subiaco, Western Australia 6008 +61 (0) 8 6489 0600 info@evresources.com.au

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