HAWSONS IRON LTD — Capital/Financing Update 2024

May 26, 2024

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SHAREHOLDER PLACEMENT OFFER CLOSURE

Hawsons Iron Limited (ASX: HIO) (HIO or the Company) is pleased to advise that the Shareholder Placement Offer (SPO) announced on Monday, 6 May 2024, has now closed. The Company received 211 applications totalling $1.344 million, exceeding the targeted raising of $1 million.

The strong demand for the SPO shares follows the successful $2.22 million share placement, inclusive of $0.25 million from HIO Directors (subject to shareholder approval).

The SPO closed at 5.00pm (AEST) on 24 May 2024 (Closing Date). Applications received after the Closing Date will not be accepted under the SPO, and those application monies will be returned in full to the applicant.

In accordance with the terms of the SPO, the Company will scale back valid applications received on a pro-rata basis, with the surplus money returned by direct credit to shareholders’ nominated bank account or cheque as soon as practicable after the Closing Date.

Any application money refunded by HIO will be paid by cheque or direct credit (the payment method will be determined by HIO in its absolute discretion) in Australian dollars. To facilitate the timely provision of refunds, HIO encourages applicants to the SPO to provide their direct credit details online at htps://investorcentre.linkgroup.com/Login/Login.

HIO expects to issue the new shares and options pursuant to the SPO on 29 May 2024. Refunds of application funds in respect of applications received after the Closing Date, are scheduled for 29 May 2024.

Following the issue of the Shareholder Shares and Shareholder Options, HIO will apply to the ASX for quotation of the Options.

The Board of HIO would like to thank shareholders for their ongoing support.

Key Dates

Key Dates
Ofer Closing Date as at 5:00pm (AEST)	24 May 2024
Issue of Shareholder Shares and Shareholder OptonsLodgement of Appendix 2A with ASXRefund monies processed	29 May 2024
Quotaton of Shareholder Shares	30 May 2024

Note:

This timetable is indicative only and subject to change. HIO reserves the right to alter the above dates at any time, including amending the period for the SPO Offer or accepting late applications, either generally or in particular cases, at its discretion and without notice to you, subject to the ASX Listing Rules, the Corporations Act 2001 (Cth) and any other applicable rules. The commencement of trading and quotation of New Shares is subject to ASX confirmation.

Further information

Please refer to the announcements made by HIO on Monday, 6 May 2024 for further background and information in relation to the SPO. If you have any questions in relation to the SPO, please call the Share Registry from 8:30am to 5:00pm (AEST) Monday to Friday on 1300 405 577 or +61 1300 405 577 (callers outside Australia) or consult your financial or other professional adviser.

Released by authority of the Board

Hawsons Iron Limited 27 May 2024

For further information: Mr Michael Harvey, CFO and Company Secretary E: Michael.Harvey@hawsons.com.au

P: +61 07 3220 2022