FIRST AU LIMITED — Capital/Financing Update 2022

Jun 13, 2022

First Au Limited (ASX: FAU)

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ASX Announcement 14 June 2022

Small Shareholding Sale Facility

First AU Limited (ASX: FAU, the Company or FAU ) is pleased to announce that it has established a small shareholding sale facility ( Sale Facility ) for shareholders whose holding of fully paid ordinary shares in the Company ( Shares ) has a market value of less than $500 as described below ( Small Parcel Holding ).

The Company has established the Sale Facility for the following reasons:

• To give holders of a Small Parcel Holding the opportunity to sell their shareholding without incurring transaction costs which, in proportion to the value of their investment, may otherwise render a sale of this size unattractive or uneconomic; and

• To reduce the expense and administration involved in maintaining the share register of the Company. Based on the closing share price on 10 June 2022 ( Record Date ) (A$0.012), the Company has 2,561 shareholders of which approximately 58.88% hold a Small Parcel Holding.

The Company will bear all costs (including brokerage fees) associated with the Sale Facility, excluding tax consequences, which will remain the shareholder’s responsibility. FAU has engaged Peak Asset Management as Lead Advisor to the Sale Facility.

Sale Facility

Shareholders who at 7.00pm (Melbourne time) on the Record Date held a Small Parcel Holding (that is a parcel of less than 41,667 Shares based on a closing Share price of A$0.012 on the Record Date) will receive a letter from the Company, in the form attached to this announcement, together with a Share Retention Form ( Form ). The letter to be sent to holders of a Small Parcel Holding explains that, unless those shareholders notify the Company that they wish to retain their Shares by submitting a completed Form, or they hold more than 41,666 Shares on the Sale Facility closing date (being 12 August 2022), those shares forming a Small Parcel Holding will be sold, and the proceeds remitted to them free from brokerage and handling fees. FAU will either pay funds from the sale to nominated bank accounts or via cheque, as applicable.

Any tax consequences from the sale will be the respective shareholder’s responsibility.

Those shareholders who hold a Small Parcel Holding and want to retain their Shares must return a completed Share Retention Form or make their own arrangements so that they hold more than 41,666 Shares (based on the closing Share price on the Record Date of A$0.012) before the Sale Facility closing date, otherwise their Shares will be sold.

The price at which Small Parcel Holdings will be sold is $0.011 (1.1 cents) per Share. All shareholders who sell a Small Parcel Holding will receive the same price per Share.

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

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Key Dates

Below are the Key Dates for the Sale Facility:

	Record Date		10 June 2022
	Announcement Date		14 June 2022
	Documents mailed to shareholders with a Small Parcel Holding		17 June 2022
	Sale of Small Parcel Holdings Opening Date		22 June 2022
	Sale of Small Parcel Holdings Closing Date (last day for return of		12 August 2022
	the retention Form)
	Payment of proceeds to participating shareholders	No later than	60 days after the
		Closing Date

Documentation in the form attached to this announcement in relation to the Sale Facility will shortly be sent to all shareholders who held a Small Parcel Holder on the Record Date.

If shareholders have any questions in relation to the Sale Facility, please contact the Company on +61 3 9817 0700.

This announcement has been authorised for release by the Board of FAU.

First Au Limited (ASX: FAU)

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14 June 2022

Dear Shareholder

Small Shareholding Sale Facility

First AU Limited (ASX: FAU, the Company or FAU ) is pleased to advise that it proposes implementing a procedure to sell holdings of fully paid ordinary FAU shares valued at less than $500 in aggregate ( Small Parcel Holding ) based on the Company’s share price of $0.012 on 10 June 2022 ( Record Date ).

The Company has a large percentage of shareholders who hold a Small Parcel Holding. While the Company values each of its shareholders, through the sale of Small Parcel Holdings the Company will significantly reduce its administration and share registry costs, whilst also providing the holders of Small Parcel Holdings the opportunity to sell their shares without incurring transaction costs.

The price at which Small Parcel Holdings will be sold is $0.011 (1.1 cents) per share.

As a shareholder who holds a Small Parcel Holding as at the Record Date, you are eligible to have your shares sold by the Company under the procedure described in this letter. The advantage in the Company selling your shares as described in this letter is that the Company will bear all transaction costs, including brokerage, associated with the sale of your shares.

If you wish to retain your shares

You have until the date set out in the timetable below to elect to retain your shares by completing and returning the enclosed Share Retention Form ( Form ). Please be aware that you are not obliged to sell your shares and the choice is entirely up to you.

If you DO NOT wish your shares to be sold, please complete and return the enclosed Form to the address noted on the Form, so that it is received by the registry by no later than 12 August 2022. If you DO NOT return the completed Form by this date your shares will be sold on your behalf.

If on the Closing Date the value of your Small Parcel Holding has increased above $500, your shares will NOT be sold.

Sale of Small Parcel Holding

If you wish to sell your shares, you do not need to take any further action.

By not taking any action by 12 August 2022, you acknowledge and accept that:

• you have irrevocably appointed the Company as your agent to sell your Small Parcel Holding and to deal with the proceeds of the sale of the shares in accordance with the process outlined in this letter; and

• if your shares are in a CHESS Holding as at 12 August 2022, the Company may move those shares to an Issuer Sponsored Holding or a certified holding without further notice.

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

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Once received, the proceeds will be paid to you in Australian dollars either:

• directly into the bank account recorded for you with the Company’s share registry; or

• in the absence of a recorded bank account, mail a cheque for the amount of the proceeds to the address shown on the Register.

THIS IS AN IMPORTANT DOCUMENT. IF YOU ARE IN ANY DOUBT AS TO HOW TO DEAL WITH IT THEN YOU SHOULD CONSULT YOUR LEGAL, FINANCIAL OR OTHER PROFESSIONAL ADVISER.

Key Dates

Below are the Key Dates for the sale of Small Parcel Holdings:

Record Date	10 June 2022
Announcement Date	14 June 2022
Documents mailed to shareholders with a Small Parcel Holding	17 June 2022
Sale of Small Parcel Holdings Opening Date	22 June 2022
Sale of Small Parcel Holdings Closing Date (last day for return ofthe retention Form)	12 August 2022
Payment of proceeds to participating shareholders	No later than 60 days after theClosing Date

If you have any questions in relation to the sale of Small Parcel Holding please contact the Company on +61 3 9817 0700.

Yours sincerely

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Ryan Skeen Chief Executive Officer

First Au Limited ACN 000 332 918

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All Registry communications to: Link Market Services Limited Locked Bag A14 Sydney South NSW 1235 Australia Telephone: 1300 554 474 From outside Australia: +61 1300 554 474 Facsimile: +61 2 9287 0303

ASX Code: FAU

Website: www.linkmarketservices.com.au

IID:

SRN/HIN:

Number of Shares held as at the Record Date, 10 June 2022:

IMPORTANT NOTICE

Please return this slip if you do not wish your Shares in First Au Limited to be sold. If you do not understand this notice you should immediately consult your financial adviser.

SHARE RETENTION FORM

If you wish to retain your Shareholding in First Au Limited (“FAU”) you must detach this slip and return it to FAU’s Registry, so that it is received no later than the 12 August 2022. Slips may be mailed to the addresses below.

Mailing Address

First Au Limited C/- Link Market Services Limited Locked Bag A14 SYDNEY SOUTH NSW 1235

THIS FORM MUST BE RECEIVED BY LINK MARKET SERVICES LIMITED BY THE 12 AUGUST 2022

If you require further information regarding this form, please contact the First Au Limited Information Line on 0398 170 700 (within Australia) or +61 3 9817 0700 (from outside Australia) between 8:30am and 5:30pm (AEST) Monday to Friday.

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Please detach

IID: SRN/HIN: X99999999999

First Au Limited ACN 000 332 918

RETENTION SLIP

I/We the Shareholder(s) described above by returning this retention slip, hereby give notice that I/we wish to retain my/our Shareholding in First Au Limited.

 DO NOT SELL MY SHARES

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