FIRST AU LIMITED — Capital/Financing Update 2021

Mar 14, 2021

First Au Limited

(ASX: FAU)

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ASX ANNOUNCEMENT

15 March 2021

SUPPLEMENTARY PROSPECTUS

First Au Limited [ASX:FAU] ( FAU ) advises that, having regard to the recent reduction in the prevailing gold price, the Board has determined to amend the exercise price of the options offered under the FAU non-renounceable pro-rata rights issue offer from $0.028 (2.8 cents) to $0.02 (2 cents).

The closing date of the rights issue has also been extended to 9 April 2021.

Except as set out above, the terms of the rights issue remain as set out in the FAU prospectus for the rights issue dated 18 February 2021 which was lodged with ASIC on that date.

A supplementary prospectus incorporating the above changes has been lodged with ASIC today and is enclosed with this announcement. The supplementary prospectus must be read in conjunction with the prospectus for the rights issue dated 18 February 2021 which was lodged with ASIC on that date.

Authorised by:

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Bryan Frost Executive Chairman, Managing Director

First Au Limited ACN 000 332 918

Registered Office: Level 1 / 123 Whitehorse Road, Balwyn Vic. 3103 Australia. Telephone 03 9817 0700 Facsimile 03 9817 0799 Website: www.firstau.com Email: info@firstau.com

SUPPLEMENTARY PROSPECTUS FIRST AU LIMITED [ACN 000 332 918]

IMPORTANT NOTICE

This Supplementary Prospectus is dated 15 March 2021 and was lodged with the Australian Securities and Investments Commission ( ASIC ) on that date. This Supplementary Prospectus supplements the Prospectus dated 18 February 2021 ( Prospectus ) issued by First Au Limited [ACN 000 332 918] ( Company ) and lodged with ASIC on that date.

This Supplementary Prospectus must be read in conjunction with the Prospectus.

ASIC and ASX Limited ( ASX ) take no responsibility for the contents of this Supplementary Prospectus or the Prospectus. Terms used in this Supplementary Prospectus have the same meaning as in the Prospectus unless otherwise defined.

CHANGE OF OPTION EXERCISE PRICE

The exercise price of New Options offered under the Rights Issue has been amended from $0.028 (2.8 cents) to $0.02 (2 cents). All references to the exercise price of New Options as:

• $0.028 are replaced with $0.02; and

• 2.8 cents are replaced with 2 cents.

The pages of the Prospectus impacted by the amendment to the exercise price of New Options offered under the Rights Issue as described above are as follows: cover, 6, 9, 13, 14 and 28.

EXTENSION OF CLOSING DATE

The Closing Date of the Rights Issue has been extended to 9 April 2021.

All references to the close of the Rights Issue in the Prospectus (including references to the Closing Date) are replaced with the date “9 April 2021”.

The revised indicative timetable for the remaining date of the Rights Issue are as set out below:

Closing Date at 5:00pm (AEST)	9 April 2021
Announcement of results to ASX	14 April 2021
Proposed issue date	16 April 2021

The above dates should be regarded as indicative only and may change without notice. All dates and times are Melbourne, Victoria, Australia time. Subject to the Corporations Act 2001 (Cth), the ASX Listing Rules and other applicable laws, the Company reserves the right to change the above dates, close the Rights Issue before the date stated above, extend the Closing Date and subsequent dates or not proceed with the Rights Issue. The Company reserves the right to extend the Closing Date by making an announcement of the extension to ASX.

This Supplementary Prospectus is intended to be read in conjunction with the Prospectus dated 18 February 2021 lodged by First Au Limited.

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DIRECTORS’ CONSENT

Each of the Directors of the Company has consented to the lodgement of this Supplementary Prospectus with ASIC and has not withdrawn that consent prior to lodgement.

Signed for and on behalf of the Company.

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Bryan Frost Executive Chairman, Managing Director

This Supplementary Prospectus is intended to be read in conjunction with the Prospectus dated 18 February 2021 lodged by First Au Limited.