FIRST AU LIMITED — Capital/Financing Update 2022

Jun 27, 2022

First Au Limited

(ASX: FAU)

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28 June 2022

First Au Limited ( FAU ) advises that the enclosed priority offer letter is being sent to eligible FAU shareholders (being those shareholders of FAU at 5pm (Melbourne time) on 16 June 2022) by Octava Minerals Limited ( Octava ) in connection with the IPO of Octava. The priority offer letter is being released to ASX in accordance with ASX Listing Rule 3.17.1.

The priority offer was secured by the Directors of FAU in connection with the negotiation of Farm-In and Joint Venture Agreement ( JVA ) entered into between FAU and Octava.

Further details of the JVA are set out in the notice of meeting released to ASX on 29 April 2022.

FAU understand that Octava has lodged its prospectus with ASIC and is seeking to list on the ASX on or about 1[st] August 2022.

Please read the enclosed letter for further details.

Authorised by:

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Bryan Frost

Executive Chairman, Managing Director

Enquiries in relation to this announcement please contact :

Ryan Skeen rskeen@firstau.com +61 409 000 679 Bryan Frost bfrost@firstau.com +61 418 898 885

Media and PR Contacts

Rod North, Managing Director

Bourse Communications Pty Ltd

M: +61 408 670 706

rod@boursecommunications.com.au

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

Octava Minerals Limited

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28 June 2022

Dear Shareholder,

As you may be aware, on 31 May 2022 First AU Limited ( FAU or the Company ) obtained shareholder approval for the Farm-In and Joint Venture Agreement ( Farm-In Agreement ) with Octava Minerals Limited [ACN 644 358 403] ( Octava ) in relation to FAU’s Talga Project.

Octava is an unlisted Australian public company which has recently lodged a prospectus in connection with a proposed ASX-listing ( Octava IPO ). Octava has assembled rights to a number of exploration assets in Western Australia, the details of which are contained in its IPO prospectus (see link below). The ASXlisting of Octava, should it proceed, is expected to be completed in early August 2022 and forms a condition to the Farm-In Agreement. In connection with FAU entering into the Farm-In Agreement and as announced by FAU to ASX on 20 June 2022, FAU shareholders with a registered address in Australia as at 5pm (AEST) on 16 June 2022 (being the priority offer record date) ( Eligible FAU Shareholders ) will be able to subscribe for shares in the Octava IPO from a priority allocation of $1 million ( Octava Priority Offer ). If more than $1 million in applications are received under the Octava Priority Offer then, subject to the acceptance of oversubscriptions, applications under the Octava Priority Offer will be scaled back to an aggregate of $1 million with priority given to ensuring each applicant under the Octava Priority Offer obtains a parcel of not less than $2,000 and thereafter at the discretion of the board of Octava. Oversubscriptions under the Octava Priority Offer may be accepted or rejected at the discretion of the board of Octava. You are receiving this letter because you are an Eligible FAU Shareholder and have a right to participate in the Octava Priority Offer. To access the details of, and subscribe under, the Octava Priority Offer please: • https://octavaminerals.com/prospectus/ – access the Octava prospectus at this link; and • [access code xxxxxx] – enter this access code in the application process. If you have any queries in relation to the Octava Priority Offer please contact David McBain by email to david.mcbain@octavaminerals.com

If more than $1 million in applications are received under the Octava Priority Offer then, subject to the acceptance of oversubscriptions, applications under the Octava Priority Offer will be scaled back to an aggregate of $1 million with priority given to ensuring each applicant under the Octava Priority Offer obtains a parcel of not less than $2,000 and thereafter at the discretion of the board of Octava. Oversubscriptions under the Octava Priority Offer may be accepted or rejected at the discretion of the board of Octava. You are receiving this letter because you are an Eligible FAU Shareholder and have a right to participate in the Octava Priority Offer.

• To access the details of, and subscribe under, the Octava Priority Offer please: • https://octavaminerals.com/prospectus/ – access the Octava prospectus at this link; and • [access code xxxxxx] – enter this access code in the application process.

Yours Sincerely

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Clayton Dodd Chairman Octava Minerals Limited

Regulatory Notes: Octava is the offeror of the securities the subject of the Octava IPO. The prospectus for the Octava IPO is available at the link above. Offers of securities in Octava will only be made in, or accompanied by, a copy of the Octava prospectus. You should consider the Octava prospectus in deciding whether to acquire securities in Octava. You will need to complete the application form that will be provided in the application process (following receipt of the Octava prospectus) to apply for shares in the Octava IPO.

Octava Minerals Limited ACN 644 358 403

Registered Office: Level 1 / 123 Whitehorse Road, Balwyn Vic. 3103 Australia. Telephone 03 9817 0700 Facsimile 03 9817 0799