HELIX RESOURCES LIMITED — Share Issue/Capital Change 2021

Nov 4, 2021

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

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Announcement Summary

Entity name

HELIX RESOURCES LIMITED

Date of this announcement

Friday November 05, 2021

The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

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	Performance Rights	17,700,000	02/11/2021
to be confirmed

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

HELIX RESOURCES 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

ACN

Registration number

009138738

1.3 ASX issuer code

HLX

1.4 The announcement is

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New announcement

1.5 Date of this announcement

5/11/2021

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

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

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

New +securities issued under an +employee incentive scheme ASX +security code +Security description New class - code to be confirmed Performance Rights +Security type ISIN code Other Date the +securities the subject of this notification were issued 2/11/2021 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? No

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. N/A

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 https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02350531 Resolution 4 and details set out in Annexure B Any other information the entity wishes to provide about the +securities the subject of this notification

Performance rights with vesting price hurdles based of 20day VWAP's of $0.036, $0.063 and $0.081. One third of the issued rights to vest based on each price hurdle being met. Two year window to vest from the date of issue.

All performance rights vest immediately if:

EITHER:

Helix¿s JORC 2012 Resource at any one Project (eg Cobar Gold is one project) exceed1 million ounces of contained gold or gold Metal Equivalent for gold/silver projects from a Resource with a minimum cut-off grade of no less than 0.3g/t Au. OR

Helix¿s JORC 2012 Resource at any one Project exceeds0 .20 million tonnes of contained copper or copper Metal Equivalent for polymetallic projects from a Resource with a minimum cut-off grade of no less than 0.3% Cu.

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

Issue details

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Number of +securities

17,700,000

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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
HLX : ORDINARY FULLY PAID	1,258,479,250
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
HLXAE : OPTION EXPIRING 10-DEC-2021 EX $0.065	12,000,000
HLXAI : PERFORMANCE OPTIONS	11,541,667
HLXAJ : OPTION EXPIRING 26-MAY-2024 EX $0.054	10,000,000
HLXAH : OPTION EXPIRING 23-FEB-2024 EX $0.02	8,000,000
New class - code to be confirmed : Performance Rights	17,700,000

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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