EV RESOURCES LTD — Share Issue/Capital Change 2023

Aug 17, 2023

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

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Announcement Summary

Entity name

EV RESOURCES LTD

Date of this announcement

Friday August 18, 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 Convertible Notes - Tranche 1 850,000 14/08/2023 to be confirmed

Refer to next page for full details of the announcement

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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

EV RESOURCES LTD

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

66009144503

1.3 ASX issuer code

EVR

1.4 The announcement is

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New announcement

1.5 Date of this announcement

18/8/2023

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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:

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Other

Please specify

Convertible Notes - Tranche 1 (refer Proposed Issue of Securities Form lodged 8 August 2023)

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 +Security description New class - code to be confirmed Convertible Notes - Tranche 1 +Security type ISIN code +Convertible debt securities Date the +securities the subject of this notification were issued 14/8/2023 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/2924-02695148-6A1162375?access_token=8 3ff96335c2d45a094df02a206a39ff4

+Convertible debt securities Details

Type of +security

Convertible note or bond

+Security currency Face value Interest rate type USD - US Dollar USD 1.08000000 Zero coupon/no interest Frequency of coupon/interest payments per year No coupon/interest payments

s128F of the Income Tax Assessment Act status applicable to the +security

s128F exemption status unknown

Is the +security perpetual (i.e. no maturity)? No

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

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Notification of Issue, Conversion or Payment up of Unquoted	Equity Securities
	Maturity date
	31/7/2025
Select other feature(s) applicable to the +security
Secured
Convertible
Is there a first trigger date on which a right of conversion, redemption, call
or put can be exercised (whichever is first)?
No
Details of the existing class of +security that will be issued if the securities are converted, transformed or
exchanged
Any other information the entity wishes to provide about the +securities the subject of this notification If securities are converted, fully paid ordinary shares in EVR will be issued.
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 Appendix 3B lodged 8 August 2023.
Issue details
Number of +securities
850,000
Were the +securities issued for a cash consideration?
Yes
In what currency was the cash consideration being	What was the issue price per +security?
paid?
USD - US Dollar	USD 1.00000000
Purpose of the issue
Other
Additional Details The funds strengthen the balance sheet and accelerate exploration activities across copper assets.

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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
EVR : ORDINARY FULLY PAID	935,984,071
EVRO : OPTION EXPIRING 31-AUG-2024	108,333,332
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
New class - code to be confirmed : Convertible Notes - Tranche 1	850,000

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? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

The Convertible Note agreement limits the number of shares that can be issued on conversion of Tranche 1 to 132,000,000 shares which is the Company's current placement capacity under Listing Rule 7.1.

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

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