INFINITY MINING LIMITED — Capital/Financing Update 2026

Jan 13, 2026

Appendix 3B - Proposed issue of securities

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Announcement Summary

Entity name

INFINITY MINING LIMITED

Announcement Type

New announcement

Date of this announcement

14/1/2026

The Proposed issue is:

A placement or other type of issue

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

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
New class-code to be	Performance Rights Director Incentive	55,000,000
confirmed
IMIO	OPTION EXPIRING 15-NOV-2028	11,882,299
IMI	ORDINARY FULLY PAID	11,882,299

Proposed +issue date

16/1/2026

Refer to next page for full details of the announcement

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Appendix 3B - Proposed issue of securities

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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

14/1/2026

1.6 The Proposed issue is:

A placement or other type of issue

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Appendix 3B - Proposed issue of securities

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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? Yes 7A.1a Conditions

Approval/Condition

Approval/Condition Date for determination +Security holder approval 19/12/2025

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

Comments

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

IMI : ORDINARY FULLY PAID

Number of +securities proposed to be issued

11,882,299

Offer price details

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

In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 0.01000

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

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Appendix 3B - Proposed issue of securities

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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)? Existing class

Attaching +Security - Existing class (additional +securities in a class that is already quoted or recorded by ASX)

Details of attaching +securities proposed to be issued

ASX +security code and description

IMIO : OPTION EXPIRING 15-NOV-2028

Number of +securities proposed to be issued

11,882,299

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

Non-cash consideration, being listed options issued for nil cash consideration on a one-for-one basis with shares issued to directors pursuant to shareholder approvals under ASX Listing Rule 10.11

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

237,645.980000

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

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional 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)

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

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Appendix 3B - Proposed issue of securities

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ASX +security code +Security description New class-code to be confirmed Performance Rights Director Incentive

+Security type

Performance options/rights

Number of +securities proposed to be issued

55,000,000 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

The Performance Rights are issued for nil cash consideration and have no monetary value at the time of issue. Any AUD amount disclosed is nominal only. Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 1.000000 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Performance options/rights details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.0000 19/12/2028 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 55,000,000 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. https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03040069-6A1304562&v=undefined and https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03026689-6A1298480&v=undefined. Performance Rights vest in tranches upon achievement of the following milestones: Cameron Petricevic ¿ 35,000,000 Performance Rights 1) 20,000,000 upon completion of the Memorandum of Cooperation (MOC) 2) 7,500,000 upon commencement of plant construction 3) 7,500,000 upon completion of the plant Kevin Woodthorpe ¿ 20,000,000 Performance Rights 1) 5,000,000 upon completion of the Memorandum of Cooperation (MOC) 2) 7,500,000 upon commencement of plant construction 3) 7,500,000 upon completion of the plant

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Appendix 3B - Proposed issue of securities

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Part 7C - Timetable

7C.1 Proposed +issue date

16/1/2026

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? Yes

7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

19/12/2025

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Yes

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? No

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

Part 7F - Further Information

7F.01 The purpose(s) for which the entity is issuing the securities

Issued pursuant to shareholder approvals at the 19 December 2025 General Meeting to satisfy director remuneration and fee entitlements through shares, options and performance rights.

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

The securities will be issued in accordance with shareholder approvals obtained on 19 December 2025.

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)

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