GLOBE METALS & MINING LIMITED — Capital/Financing Update 2023

Aug 3, 2023

Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Announcement Summary

Entity name

GLOBE METALS & MINING LIMITED

Announcement Type

New announcement

Date of this announcement

4/8/2023

The Proposed issue is:

==> picture [8 x 8] intentionally omitted <==

A standard pro rata issue (including non-renounceable or renounceable)

Total number of +securities proposed to be issued for a standard pro rata issue (including non-renounceable or renounceable)

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
GBE	ORDINARY FULLY PAID	217,186,584

Ex date

11/8/2023

+Record date

14/8/2023

Offer closing date

31/8/2023

Issue date

4/9/2023

Refer to next page for full details of the announcement

Proposed issue of securities

1 / 6

Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Part 1 - Entity and announcement details

1.1 Name of +Entity

GLOBE METALS & MINING LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

Registration Number

ABN 33114400609

1.3 ASX issuer code

GBE

1.4 The announcement is

==> picture [8 x 8] intentionally omitted <==

New announcement

1.5 Date of this announcement

4/8/2023

1.6 The Proposed issue is:

==> picture [8 x 8] intentionally omitted <==

A standard +pro rata issue (non-renounceable or renounceable)

1.6a The proposed standard +pro rata issue is:

==> picture [8 x 8] intentionally omitted <==

• Non-renounceable

Proposed issue of securities

2 / 6

Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Part 3 - Details of proposed entitlement offer issue

Part 3A - Conditions

3A.1 Do any external approvals need to be obtained or other conditions satisfied before the entitlement offer can proceed on an unconditional basis? No

Part 3B - Offer details

Class or classes of +securities that will participate in the proposed issue and class or classes of +securities proposed to be issued

ASX +security code and description

GBE : ORDINARY FULLY PAID

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this If the entity has quoted company +security include an offer of options, do the terms entitle option attaching +securities? holders to participate on exercise? No No

Details of +securities proposed to be issued

ASX +security code and description GBE : ORDINARY FULLY PAID

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is foreign company and +securities are non CDIs)

Offer ratio (ratio to existing holdings at which the proposed +securities will be issued)

The quantity of additional +securities For a given quantity of +securities to be issued held 3 7

3

Proposed issue of securities

3 / 6

Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

What will be done with fractional Maximum number of +securities entitlements? proposed to be issued (subject to rounding) Fractions rounded down to the nearest 217,186,584 whole number or fractions disregarded

Offer price details for retail security holders

In what currency will the offer be made?

AUD - Australian Dollar

What is the offer price per +security for the retail offer? AUD 0.03700

Oversubscription & Scale back details

Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)?

==> picture [9 x 8] intentionally omitted <==

Yes

Describe the limits on over-subscription

No limit on applications for additional new shares but the directors will exercise their discretion to scale back applications to the extent required to comply with applicable laws, including Chapter 6 of the Corporations Act.

Will a scale back be applied if the offer is over-subscribed?

==> picture [9 x 9] intentionally omitted <==

Yes

Describe the scale back arrangements

The directors reserve the right to scale back applications for additional new shares at their discretion. Applications will be scaled back to the extent required to comply with applicable laws, including Chapter 6 of the Corporations Act.

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?

==> picture [9 x 8] intentionally omitted <==

Yes

Part 3C - Timetable

3C.1 +Record date

14/8/2023

3C.2 Ex date

11/8/2023

Proposed issue of securities

4 / 6

Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

3C.4 Record date

14/8/2023

3C.5 Date on which offer documents will be sent to +security holders entitled to participate in the +pro rata issue

17/8/2023

3C.6 Offer closing date

31/8/2023

3C.7 Last day to extend the offer closing date

28/8/2023

3C.9 Trading in new +securities commences on a deferred settlement basis

1/9/2023

3C.11 +Issue date and last day for entity to announce results of +pro rata issue

4/9/2023

3C.12 Date trading starts on a normal T+2 basis

5/9/2023

3C.13 First settlement date of trades conducted on a +deferred settlement basis and on a normal T+2 basis

7/9/2023

Part 3E - Fees and expenses

3E.1 Will there be a lead manager or broker to the proposed offer? Yes

3E.1a Who is the lead manager/broker?

Canaccord Genuity (Australia) Limited

3E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

Lead manager fee of 2% on the gross amount raised. Selling fee of 4% on the amount raised from the placement of the shortfall (excluding the firm commitments from Apollo Metals Investment Co. Ltd and Triple Talent Enterprises Ltd).

3E.2 Is the proposed offer to be underwritten?

==> picture [8 x 8] intentionally omitted <==

No

3E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission?

==> picture [8 x 8] intentionally omitted <==

No

Proposed issue of securities

5 / 6

Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

3E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer

Legal fees, share registry fees and related costs, ASX fees, and ASIC fees as described in section 5.12 of the Prospectus dated 4 August 2023.

Part 3F - Further Information

3F.1 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

Technical feasibility work, metallurgical test work, and pilot plant work at the Company's Kanyika Project, mine and refinery preparation and planning costs, director loan repayments, corporate overheads, and costs associated with the proposed issue.

3F.2 Will holdings on different registers or subregisters be aggregated for the purposes of determining entitlements to the issue?

==> picture [8 x 8] intentionally omitted <==

No

3F.3 Will the entity be changing its dividend/distribution policy if the proposed issue is successful? No

3F.4 Countries in which the entity has +security holders who will not be eligible to participate in the proposed issue

Germany, France, and United Kingdom.

3F.5 Will the offer be made to eligible beneficiaries on whose behalf eligible nominees or custodians hold existing +securities

==> picture [8 x 8] intentionally omitted <==

Yes

3F.5a Please provide further details of the offer to eligible beneficiaries

Nominees and custodians may not permit any beneficial shareholder to participate in the offer in any country outside Australia, British Virgin Islands, China (institutional investors), Guernsey, Hong Kong (professional investors), Malawi, New Zealand, and Singapore except, with the consent of the Company, to beneficial shareholders resident in certain other countries where the Company may determine it is lawful and practical to make the offer.

3F.6 URL on the entity's website where investors can download information about the proposed issue

https://www.globemm.com/asx-announcements

3F.7 Any other information the entity wishes to provide about the proposed issue

Issues of shares to related parties as part of the top up offer or shortfall will be subject to shareholder approval under Listing Rule 10.11. Refer to Prospectus dated 4 August 2023 for further details.

3F.8 Will the offer of rights under the rights issue be made under a disclosure document or product disclosure statement under Chapter 6D or Part 7.9 of the Corporations Act (as applicable)? Yes

3F.9 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a +disclosure document or +PDS for the +securities proposed to be issued

Proposed issue of securities

6 / 6