GREENWING RESOURCES LTD — Capital/Financing Update 2025

Apr 27, 2025

Appendix 3B - Proposed issue of securities

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Update Summary Entity name GREENWING RESOURCES LTD Announcement Type Update to previous announcement Date of this announcement 28/4/2025 Reason for update to a previous announcement Confirm proposed issue date of 13 June 2025 Refer to next page for full details of the announcement

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

Part 1 - Entity and announcement details

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1.1 Name of +Entity

GREENWING RESOURCES LTD

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 31109933995

1.3 ASX issuer code

GW1

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Confirm proposed issue date of 13 June 2025

1.4b Date of previous announcement to this update

28/4/2025

1.5 Date of this announcement

28/4/2025

1.6 The Proposed issue is:

An offer of +securities under a +securities purchase plan

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Appendix 3B - Proposed issue of securities

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Part 4 - Details of proposed offer under securities purchase plan

Part 4A - Conditions

4A.1 Do any external approvals need to be obtained or other conditions satisfied before the offer of +securities under the +securities purchase plan issue can proceed on an unconditional basis? Yes

4A.1a Conditions

Approval/Condition Date for determination +Security holder approval 12/6/2025

Is the date estimated or ** Approval actual? received/condition met? Estimated

Comments

Refer to ASX announcement dated 28 April 2025.

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Appendix 3B - Proposed issue of securities

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Part 4B - 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

GW1 : ORDINARY FULLY PAID

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +security code and description GW1 : ORDINARY FULLY PAID

Maximum total number of those +securities that could be issued if all offers under the +securities purchase plan are accepted 33,333,333

Will the offer be conditional on applications for a minimum number of +securities being received or a minimum amount being raised (i.e. a minimum subscription condition)? No

Will the offer be conditional on applications for a maximum number of +securities being received or a maximum amount being raised (i.e. a maximum subscription condition)? No

Will individual security holders be required to accept the offer for a minimum number or value of +securities (i.e. a minimum acceptance condition)? No

Will individual security holders be limited to accepting the offer for a maximum number or value of +securities (i.e. a maximum acceptance condition)? No Describe all the applicable parcels available for this offer in number of securities or dollar value Under the SPP, eligible shareholders may apply for new shares in parcels valued at A$500, A$1000, A$2,500, A$5000, A$7,500, A$10,000, A$20,000, A$25,000, or A$30,000.

Offer price details

Has the offer price been determined? Yes In what currency will the offer What is the offer price per be made? +security? AUD - Australian Dollar AUD 0.03000

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Appendix 3B - Proposed issue of securities

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Oversubscription & Scale back details

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

Describe the scale back arrangements

To the extent the Company determines to scale back the number of new shares that will be issued to eligible shareholders, Greenwing intends to do so at its discretion. If a scale back produces a fractional number of new shares when applied to the parcel, the number of new shares that the applicant will be issued will be rounded up to the nearest whole number of new shares.

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

Yes

Part 4C - Timetable

4C.1 Date of announcement of +security purchase plan

28/4/2025

4C.2 +Record date

24/4/2025

4C.3 Date on which offer documents will be made available to investors

12/5/2025

4C.4 Offer open date

12/5/2025

4C.5 Offer closing date

10/6/2025

4C.7 +Issue date and last day for entity to announce results of +security purchase plan offer

13/6/2025

Part 4D - Listing Rule requirements

4D.1 Does the offer under the +securities purchase plan meet all of the requirements of listing rule 7.2 exception 5 or do you have a waiver from those requirements? No

4D.1a Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? No

4D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

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Appendix 3B - Proposed issue of securities

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Part 4E - Fees and expenses

4E.1 Will there be a lead manager or broker to the proposed offer? No

• 4E.2 Is the proposed offer to be underwritten? No

4E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No

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

Part 4F - Further Information

4F.01 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

Refer ASX announcement dated 28 April 2025.

4F.1 Will the entity be changing its dividend/distribution policy if the proposed offer is successful? No

4F.2 Countries in which the entity has +security holders who will not be eligible to accept the proposed offer Shareholders outside of Australia and New Zealand

4F.3 URL on the entity's website where investors can download information about the proposed offer

www.greenwingresources.com

4F.4 Any other information the entity wishes to provide about the proposed offer

Refer ASX announcement dated 28 April 2025.

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