INFINITY MINING LIMITED — Capital/Financing Update 2025

Apr 10, 2025

Appendix 3B - Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Announcement Summary

Entity name

INFINITY MINING LIMITED

Announcement Type

New announcement

Date of this announcement

11/4/2025

The Proposed issue is:

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

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

enounceable)
		Maximum Number of
ASX +security code	+Security description	+securities to be issued
New class-code to be	Loyalty Option	282,010,518
confirmed

Ex date

15/4/2025

+Record date

16/4/2025

Offer closing date

5/5/2025

Issue date

12/5/2025

Refer to next page for full details of the announcement

Appendix 3B - Proposed issue of securities

1 / 7

Appendix 3B - Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Part 1 - Entity and announcement details

1.1 Name of +Entity

INFINITY MINING 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

ABN

Registration Number

73609482180

1.3 ASX issuer code

IMI

1.4 The announcement is

New announcement

1.5 Date of this announcement

11/4/2025

1.6 The Proposed issue is:

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

1.6a The proposed standard +pro rata issue is:

• Non-renounceable

Appendix 3B - Proposed issue of securities

2 / 7

Appendix 3B - Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

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

IMI : ORDINARY FULLY PAID

Is the proposed security a 'New Will the proposed issue of this If the entity has quoted company class' (+securities in a class that is +security include an offer of options, do the terms entitle option not yet quoted or recorded by ASX) attaching +securities? holders to participate on exercise? or an 'Existing class' (additional No No securities in a class that is already quoted or recorded by ASX)? New class

Details of +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)

Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1? Will the entity be seeking quotation of the 'new' class of +securities on ASX? ASX +security code New class-code to be confirmed +Security description Loyalty Option Yes No	Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1? Will the entity be seeking quotation of the 'new' class of +securities on ASX? ASX +security code New class-code to be confirmed +Security description Loyalty Option Yes No
New class-code to be confirmed	Loyalty Option

+Security type

Options

Appendix 3B - Proposed issue of securities

3 / 7

Appendix 3B - Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Offer ratio (ratio to existing holdings at which the proposed +securities will be issued) The quantity of additional +securities For a given quantity of +securities to be issued held 2 3 What will be done with fractional Maximum number of +securities entitlements? proposed to be issued (subject to rounding) Fractions rounded down to the nearest 282,010,518 whole number or fractions disregarded

Offer price details for retail security holders

In what currency will the offer be What is the offer price per +security made? for the retail offer? AUD - Australian Dollar AUD 0.00100

Oversubscription & Scale back details

Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)? No

Will a scale back be applied if the offer is over-subscribed? No

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 Expiry date AUD 0.0200 12/11/2028

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

IMI : ORDINARY FULLY PAID

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

282,010,518 Fully paid ordinary shares

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.

The terms and conditions of the offer are included in the Prospectus lodged with ASX on 11 April 2025.

Appendix 3B - Proposed issue of securities

4 / 7

Appendix 3B - Proposed issue of securities

Part 3C - Timetable

==> picture [21 x 22] intentionally omitted <==

3C.1 +Record date

16/4/2025

3C.2 Ex date

15/4/2025

3C.4 Record date

16/4/2025

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

23/4/2025

3C.6 Offer closing date

5/5/2025

3C.7 Last day to extend the offer closing date

30/4/2025

3C.9 Trading in new +securities commences on a deferred settlement basis

6/5/2025

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

12/5/2025

3C.12 Date trading starts on a normal T+2 basis

13/5/2025

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

15/5/2025

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?

CPS Capital

3E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

Subject to Shareholder approval, the Lead Manager (or its nominees) will receive 30,000,000 New Options on the same terms as those offered under the Offer.

3E.2 Is the proposed offer to be underwritten? Yes

Appendix 3B - Proposed issue of securities

5 / 7

Appendix 3B - Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

3E.2a Who are the underwriter(s)?

CPS Capital

3E.2b What is the extent of the underwriting (ie the amount or proportion of the offer that is underwritten)?

The Loyalty Option Offer is fully underwritten by CPS Capital Group Pty Ltd to raise up to approximately $282,010.

3E.2c What fees, commissions or other consideration are payable to them for acting as underwriter(s)?

The Offer is fully underwritten by the Lead Manager, who will receive an underwriting fee of 6% (plus GST). The Lead Manager has agreed to pay the Sub-Underwriter a fee of 6% to sub-underwrite the Offer.

3E.2d Please provide a summary of the significant events that could lead to the underwriting being terminated

The Lead Manager may terminate the Lead Manager Mandate by fourteen (14) days¿ notice in writing in the event that the Company commits or allows to be committed a material breach of any of the terms or conditions of the Lead Manager Mandate or if a warranty or representation given by the Company is not complied with or proves to be untrue in any respect. The Lead Manager may also terminate immediately by notice in writing if the Company becomes insolvent, has a receiver, administrative receiver or manager or administrator appointed over the whole of or any of their assets, enters into any composition with creditors generally or has an order made or resolution passed for it to be wound up; or if a court makes an administration order with respect to the Company or any composition in satisfaction of its debts of or a scheme of arrangement of the affairs of the Company. The Lead Manager Mandate may be terminated by the Company by seven (7) days written notice.

3E.2e Is a party referred to in listing rule 10.11 underwriting or sub-underwriting the proposed offer? 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

Part 3F - Further Information

3F.1 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

The funds raised will be used to cover the expenses of the Offer and to provide additional working capital for the Company.

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

Shareholders whose address is outside of Australia and New Zealand.

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

Nominees and custodians may not submit an Entitlement and Acceptance Form on behalf of any Shareholder resident outside Australia and New Zealand without the prior consent of the Company, taking into account relevant securities law restrictions. Return of a duly completed Entitlement and Acceptance Form will be taken by the Company to constitute a representation that there has been no breach of those regulations

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

Prospectus is available in electronic format via the Company¿s website at www.infinitymining.com.au and the Offer website at https://events.miraqle.com/imi-offer.

Appendix 3B - Proposed issue of securities

6 / 7

Appendix 3B - Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

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

Appendix 3B - Proposed issue of securities

7 / 7