HAWK RESOURCES LIMITED. — Share Issue/Capital Change 2026

May 12, 2026

Appendix 3B - Proposed issue of securities

Announcement Summary

Entity name

HAWK RESOURCES LIMITED.

Announcement Type

New announcement

Date of this announcement

13/5/2026

The Proposed issue is:

A standard pro rata issue (including non-renounceable or renounceable)
A placement or other type of issue

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

ASX +security code	+Security description	Maximum Number of +securities to be issued
New class-code to be confirmed	OPTION EXPIRING 30-NOV-2028 EX $0.07	32,776,841
HWK	ORDINARY FULLY PAID	65,553,681

Ex date

21/5/2026

+Record date

22/5/2026

Offer closing date

19/6/2026

Issue date

26/6/2026

Total number of +securities proposed to be issued for a placement or other type of issue

ASX +security code	+Security description	Maximum Number of +securities to be issued
New class-code to be confirmed	OPTION EXPIRING 30-NOV-2028 EX $0.07	65,000,000
HWK	ORDINARY FULLY PAID	130,000,000

Proposed +issue date

25/5/2026

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

1.1 Name of +Entity

HAWK RESOURCES 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

55165079201

1.3 ASX issuer code

HWK

1.4 The announcement is

New announcement

1.5 Date of this announcement

13/5/2026

1.6 The Proposed issue is:

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

A placement or other type of issue

1.6a The proposed standard +pro rata issue is:

• Non-renounceable

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

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

HWK : 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 +security include an offer of attaching +securities?
Yes

If the entity has quoted company options, do the terms entitle option holders to participate on exercise?
No

Details of +securities proposed to be issued

ASX +security code and description

HWK : ORDINARY FULLY PAID

ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is foreign company and +securities do not have +CDIs issued over them)

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

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

1
8

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

What will be done with fractional entitlements?
Maximum number of +securities proposed to be issued (subject to rounding)
Fractions rounded up to the next whole number
65,553,681

Offer price details for retail security holders

In what currency will the offer be made?
What is the offer price per +security for the retail offer?
AUD - Australian Dollar
AUD 0.03000

Oversubscription & Scale back details

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

Describe the limits on over-subscription
The Directors reserve the right to allocate Shares pursuant to the Top Up Offer in their absolute discretion in consultation with the Lead Manager. The Directors will not allocate any Shares pursuant to the Top Up Offer which would result in a Shareholder exceeding 20% Voting Power in the Company as a result of participation Top Up Offer.

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

Describe the scale back arrangements
The Directors reserve the right to scale back applications for Shares pursuant to the Top Up Offer in their absolute discretion in consultation with the Lead Manager.

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

Attaching +Security

Is the proposed attaching 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)?
New class

Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX)

Details of attaching +securities proposed to be issued
ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is foreign company and +securities do not have +CDIs issued over them)

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1?
No
Will the entity be seeking quotation of the 'new' class of +securities on ASX?
Yes

ASX +security code
New class-code to be confirmed
+Security description
OPTION EXPIRING 30-NOV-2028 EX $0.07

+Security type
Options

Offer ratio (ratio of attaching securities at which the new +securities will be issued)
The quantity of attaching +securities to be issued
For a given quantity of the new +securities issued
1
2

What will be done with fractional entitlements?
Fractions rounded up to the next whole number
Maximum number of +securities proposed to be issued (subject to rounding)
32,776,841

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 0.07000

Oversubscription & Scale back details

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

Describe the limits on over-subscription
The Directors reserve the right to allocate Shares pursuant to the Top Up Offer in their absolute discretion in consultation with the Lead Manager. The Directors will not allocate any Shares pursuant to the Top Up Offer which would result in a Shareholder exceeding 20% Voting Power in the Company as a result of participation Top Up Offer.

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

Describe the scale back arrangements
The Directors reserve the right to scale back applications for Shares pursuant to the Top Up Offer in their absolute discretion in consultation with the Lead Manager.

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

Options details

+Security currency
AUD - Australian Dollar

Exercise price
AUD 0.0700

Expiry date
30/11/2028

Appendix 3B - Proposed issue of securities
5 / 11

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Appendix 3B - Proposed issue of securities

Details of the type of +security that will be issued if the option is exercised

HWK : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised

One fully paid ordinary share (ASX:HWK)

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

Part 3C - Timetable

3C.1 +Record date
22/5/2026

3C.2 Ex date
21/5/2026

3C.4 Record date
22/5/2026

3C.5 Date on which offer documents will be sent to +security holders entitled to participate in the +pro rata issue
27/5/2026

3C.6 Offer closing date
19/6/2026

3C.7 Last day to extend the offer closing date
16/6/2026

3C.9 Trading in new +securities commences on a deferred settlement basis
22/6/2026

3C.11 +Issue date and last day for entity to announce results of +pro rata issue
26/6/2026

3C.12 Date trading starts on a normal T+2 basis
29/6/2026

3C.13 First settlement date of trades conducted on a +deferred settlement basis and on a normal T+2 basis
1/7/2026

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

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?
Cygnet Capital Pty Ltd

3E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?
A management fee of 2% (plus GST) of the total amount raised under the Offers, plus a capital raise fee of 4% (plus GST) on all funds raised under the Placement or Top-Up Placement, plus the issue of up to 20,000,000 Lead Manager Options, on the same terms as the free attaching options.

3E.2 Is the proposed offer to be underwritten?
No

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

3E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer
Standard share registry, external advisers and ASX fees.

Part 3F - Further Information

3F.1 The purpose(s) for which the entity intends to use the cash raised by the proposed issue
To fund exploration activities at the Company's areas of interest, pay costs of the offer and working capital requirements.

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

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

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

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

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

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

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis?
No

Part 7B - Issue details

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 +security include an offer of attaching +securities?
Yes

Details of +securities proposed to be issued

ASX +security code and description
HWK : ORDINARY FULLY PAID

Number of +securities proposed to be issued
100,000,000

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration?
Yes

In what currency is the cash consideration being paid?
AUD - Australian Dollar

What is the issue price per +security?
AUD 0.03000

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

Attaching +Security

Is the proposed attaching 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)?
New class

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX)

Details of attaching +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

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

No

Will the entity be seeking quotation of the 'new' class of +securities on ASX?

Yes

ASX +security code	+Security description
New class-code to be confirmed	OPTION EXPIRING 30-NOV-2028 EX $0.07

+Security type

Options

Number of +securities proposed to be issued

65,000,000

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration?
No

Please describe the consideration being provided for the +securities

One free attaching option for every two new shares issued.

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

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

Yes

Options details

+Security currency
AUD - Australian Dollar
Exercise price
AUD 0.0700
Expiry date
30/11/2028

Details of the type of +security that will be issued if the option is exercised

HWK : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised

One fully paid ordinary share (ASX:HWK)

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

Is the proposed security a 'New	Will the proposed issue of this

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

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

+security include an offer of attaching +securities?
No

Details of +securities proposed to be issued

ASX +security code and description
HWK : ORDINARY FULLY PAID

Number of +securities proposed to be issued
30,000,000

Offer price details
Are the +securities proposed to be issued being issued for a cash consideration?
Yes

In what currency is the cash consideration being paid?
AUD - Australian Dollar

What is the issue price per +security?
AUD 0.03000

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

Part 7C - Timetable

7C.1 Proposed +issue date
25/5/2026

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1?
No

7D.1b 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?
Yes

7D.1b (i) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?
78,000,000 shares

7D.1c 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)?
Yes

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

7D.1c ( i ) How many +securities are proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A?
52,000,000 shares

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue?
No

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules?
No

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow?
No

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue?
Yes

7E.1a Who is the lead manager/broker?
Cygnet Capital Pty Ltd

7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?
A management fee of 2% (plus GST) of the total amount raised under the Offers, plus a capital raise fee of 4% (plus GST) on all funds raised under the Placement or Top-Up Placement, plus the issue of up to 20,000,000 Lead Manager Options, on the same terms as the free attaching options.

7E.2 Is the proposed issue to be underwritten?
No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue
Standard share registry, external advisers and ASX fees.

Part 7F - Further Information

7F.01 The purpose(s) for which the entity is issuing the securities
To fund exploration activities at the Company's areas of interest, pay costs of the offer and working capital requirements.

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds?
No

7F.2 Any other information the entity wishes to provide about the proposed issue
Issue of Placement options (including the "top-up options") are subject to shareholder approval.

7F.3 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 cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)

Appendix 3B - Proposed issue of securities