FREEHILL MINING LIMITED. — Capital/Financing Update 2021

Oct 12, 2021

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13 October 2021

Dear Option Holder

EXPIRY OF LISTED OPTIONS

We are writing to you as a registered holder of FHSO listed options in Freehill Mining Limited (ASX:FHS) ( Company ) to remind you that the options will expire at 5:00pm (AEDT) on Friday, 12 November 2021.

Your option holding may be exercised in whole or in part by payment of $0.025 for each option by no later than 5:00pm (AEDT) on Friday, 12 November 2021. If payment is not received by that time, the options will lapse and all rights under the options will cease at that time. On exercise, each FHSO option entitles the holder to receive one fully paid ordinary share in the Company ( Share ).

Some of the courses of action available to you as a holder of these soon to expire options are:

• a) exercise the options on or before 5:00pm (AEDT) on Friday, 12 November 2021;

• b) sell your options. Quotation of the options will cease at the close of trading on Monday, 8 November 2021;

• c) do nothing (i.e. allow your options to expire). If you do not exercise or sell your options, they will expire at 5:00pm (AEDT) on Friday, 12 November 2021 and your right to subscribe for ordinary shares in the Company at $0.025 per Share will lapse.

There is no obligation on option holders to exercise their options. However, under paragraph 5.2 of Appendix 6A of the Australian Securities Exchange ( ASX ) Listing Rules, the Company is required to advise option holders of the information contained in this notice.

The market sale price of Shares on the ASX was $0.029 on 12 October 2021, being the last trading day prior to the date of this notice. During the three (3) months preceding the date of this notice:

• the highest closing market sale price of Shares on the ASX was $0.039 on 13, 14 and 16 July 2021; and

• the lowest closing market sale price of Shares on the ASX was $0.025 on 15 and 20 September 2021.

If you wish to exercise your options then you must complete the instructions set out on the “Notice of Exercise of Options” form accompanying this notice. A payment of $0.025 per option exercised must be received no later than 5:00pm (AEDT) on Friday, 12 November 2021.

If you have any further questions please do not hesitate to contact our Registry on telephone 1300 288 664 or +61 2 9698 5414, or by email at hello@automicgroup.com.au.

Yours faithfully,

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Paul Davies Chief Executive Officer

Freehill Mining Limited | ACN 091 608 025

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SRN/HIN: [HolderNumber] Security Code: FHSO Option Expiry Date: 12NOV2021 Exercise Price: $0.025 Options Held: [HoldingTotal][ReplaceNoImages]

NOTICE OF EXERCISE OF OPTIONS

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NOTE: When signed under Power of Attorney, the attorney states that they have not received a notice of revocation. A certified copy of the Power of Attorney must be lodged with this exercise form.