GREAT SOUTHERN MINING LIMITED — Share Issue/Capital Change 2021

Oct 4, 2021

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

GREAT SOUTHERN MINING LIMITED

Date of this announcement

Tuesday October 05, 2021

The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	Unlisted Options issued under the Company's	15,250,000	05/10/2021
to be confirmed	approved long term incentive plan.

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

GREAT SOUTHERN MINING LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

Registration number

ABN 37148168825

1.3 ASX issuer code

GSN

1.4 The announcement is

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New announcement

1.5 Date of this announcement

5/10/2021

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Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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does not have an existing ASX security code ("new class")

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Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

ASX +security code +Security description New class - code to be confirmed Unlisted Options issued under the Company's approved long term incentive plan. +Security type ISIN code Options Date the +securities the subject of this notification were issued 5/10/2021

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate?	Were any of the +securities issued to +key management personnel (KMP) or an +associate?	Were any of the +securities issued to +key management personnel (KMP) or an +associate?
Yes
Provide details of the KMP or +associates being issued +securities.
Name of KMP	Name of registered holder	Number of +securities
M Petricevic	Mark Petricevic	3,000,000
S Gregory	Gregory Investment Trust	9,000,000

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? Yes

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://wcsecure.weblink.com.au/clients/gsml/headline.aspx?headlineid=6980764

Note: LTIP last approved at EGM held 3 July 2020.

Options Details

+Security currency AUD - Australian Dollar

Exercise price Expiry date AUD 0.10000000 5/10/2026

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Description

GSN fully paid ordinary shares.

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

Refer above.

Any other information the entity wishes to provide about the +securities the subject of this notification

Unlisted Options are being issued to the CEO, CFO and employees of the Company under the Company's approved LTIP. Refer to Attachment A to this Appendix.

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Issue details

Number of +securities 9,000,000 Number of +securities 3,000,000 Number of +securities 1,500,000 Number of +securities 1,500,000 Number of +securities 250,000

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
GSNOA : OPTION EXPIRING 04-SEP-2022	172,644,222
GSN : ORDINARY FULLY PAID	505,660,420
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted	on ASX)
	Total number of
ASX +security code and description	+securities on issue
GSNAB : OPTION EXPIRING 04-SEP-2022 EX 6C	5,000,000
GSNAA : OPTION EXPIRING VAR EX 5C	1,200,000
GSNAG : OPTION EXPIRING 31-DEC-2022 EX $0.05	600,000
GSNAH : OPTION EXPIRING 30-JUN-2025 EX $0.20	600,000
GSNAC : OPTION EXPIRING 30-JUN-2023 EX 10C	1,500,000
GSNAD : OPTION EXPIRING 30-JUN-2024 EX 15C	500,000
GSNAE : OPTION EXPIRING 30-JUN-2025 EX 20C	1,500,000
GSNAF : PERFORMANCE RIGHTS	6,000,000
New class - code to be confirmed : Unlisted Options issued under the Company's approved	15,250,000
long term incentive plan.

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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