GLOBE METALS & MINING LIMITED — Capital/Financing Update 2022

Aug 4, 2022

==> picture [595 x 93] intentionally omitted <==

----- Start of picture text -----

ASX Announcement
----- End of picture text -----

5 August 2022

Ms Elizabeth Watts Listings Adviser, Listings Compliance Australian Securities Exchange Level 40, Central Park 152–158 St Georges Terrace Perth WA 6000

Dear Ms Watts,

$500,000 Loan Commitment Received Pursuant to Agreement with Director Bo Tan

Globe Metals & Mining Limited (ASX: GBE) (“ Globe ” or “ Company ”) is pleased to advise that Director Bo Tan has agreed to provide a further loan facility in the amount of A$500,000 to assist the Company with its short-term working capital requirements.

As announced on 11 March 2022, Mr Tan provided a short-term loan facility in the amount of A$1 million, repayable in cash or by the issue of fully paid ordinary shares in the Company at a price of 6.35 cents per share. The new loan facility for A$500,000 is provided by Mr Tan, by way of a second tranche, on substantially identical terms as the initial loan facility.

The additional funding will allow the Company to continue to focus its efforts on:

• finalising its Phase One Study and Economics for release to the market;

• executing the mine development agreement; and

• financing and off-take initiatives.

The key terms of the new loan facility are as follows:

Loan Amount: A$500,000 Interest Rate: 8% per annum Default Interest Rate: 20% per annum Term: 6 months Repayment: Repayable in cash or by the issue of fully paid ordinary shares at a price of 6.35 cents per share, subject to shareholder approval.

The conversion price of 6.35 cents per share is the same conversion price under Mr Tan’s initial loan facility, which represents approximately a 15% discount from the last close of 7.6 cents.

Under the terms of the loan agreement, the Company will commence preparations for a general meeting of shareholders at which shareholders will vote on the conversion of the new loan into shares at the price of 6.35 cents per share.

Globe Metals & Mining Ltd | Unit 1, 26 Elliott Street, Midvale, WA, 6056 | PO Box 1811 West Perth WA 6872 | P: +61 6118 7240 | F: +61 8 6323 0418 web: www.globemm.com | Email: info@globemm.com | ABN 33 114 400 609 | ASX:GBE

==> picture [595 x 93] intentionally omitted <==

----- Start of picture text -----

ASX Announcement
----- End of picture text -----

The Board of Directors of the Company wish to acknowledge the continued strong support shown by Director Bo Tan and is appreciative of his commitment to the Company.

This announcement was approved by the Board of the Company.

For further information contact:

Grant Hudson Paul Hardie Chief Executive Officer Company Secretary +61 8 6118 7240 +61 8 6118 7240

Globe Metals & Mining Ltd | Unit 1, 26 Elliott Street, Midvale, WA, 6056 | PO Box 1811 West Perth WA 6872 | P: +61 6118 7240 | F: +61 8 6323 0418 web: www.globemm.com | Email: info@globemm.com | ABN 33 114 400 609 | ASX:GBE