JUNO MINERALS LIMITED — Capital/Financing Update 2021

May 11, 2021

Juno Minerals Limited ACN 645 778 892

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AMENDED Pro Forma Financial Information

Provided by Juno Minerals Limited ( Company ) to ASX in conjunction with the Company’s application to ASX for admission to the official list.

Capitalised terms in this document bear the meaning given to them in the Company’s replacement prospectus dated 25 March 2021 ( Prospectus ).

Pro-Forma Historical Statement of Financial Position

The table below sets out the audited historical statement of financial position of the Company, the pro forma adjustments that have been made to it (further described below under the heading “Pro Forma Transactions”) and the pro forma consolidated statements of financial position as at 31 December 2020, based on the Company raising $3,914,500 under the Share Offer and payment of costs of the Offers as detailed in the Prospectus.

The pro forma statement of financial position is provided for illustrative purposes only and is not represented as being necessarily indicative of the Company’s view of its future financial position.

Proforma based on $3,914,500 Share Offer raising

		Audited	Pro FormaPro Forma
		As at	AdjustmentsAs at
$’000		31-Dec-20	31-Dec-20
CURRENT ASSETSCash and Cash EquivalentsTrade ReceivablesOther Current Assets		0--	8,9158,915----
TOTAL CURRENT ASSETS		0	8,9158,915
TOTAL NON-CURRENT ASSETS		-	25,00025,000
TOTAL ASSETS		0	33,91533,915
CURRENT LIABILITIESTrade Payables		(290)	(59)(349)
TOTAL CURRENT LIABILITIES		(290)	(59)(349)
TOTAL NON-CURRENT LIABILITIES		-	--
TOTAL LIABILITIES		(290)	(59)(349)
NET (LIABILITIES)/ASSETS		(290)	33,85633,566
EQUITYIssued Share CapitalReservesAccumulated Losses		(44)-(246)	34,09034,045600600(834)(1,079)
TOTAL (DEFICIT)/NET EQUITY		(290)	33,85633,566

Pro Forma Transactions

The following transactions contemplated in this Prospectus which are to take place on or before the completion of the Offer, referred to as the subsequent events and pro forma adjustments, are presented as if they, together with the Offer, had occurred subsequent to 31 December 2020 and are set out below.

With the exception of the subsequent events and pro forma transactions noted below no other material transactions have occurred between 31 December 2020 and the date of this Prospectus which the Directors consider require disclosure.

Pro forma transactions:

• (a) “ Transfer of Assets ”: Transfer of Mount Ida (Magnetite Project) and Mount Mason (Hematite Project) from Jupiter. Assumed value of $25.0 million which equates to issue of 100 million shares to Jupiter at an issue price of $0.25.

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• (b) “ Seed Funding ”: the issue of 20 million ordinary shares at an issue price of $0.25 per share to Jupiter for $5.0 million of cash seed funding.

• (c) “ Offer costs ”: total expenses associated with the Offers (including broking, legal, accounting and administrative fees as well as printing, advertising and other expenses) are $348,504 (exclusive of GST). Those costs which directly related to the issue of new shares have been offset against contributed equity, while the remaining costs have been expensed to the profit and loss account as detailed as follows:

$’000	Period to 31-Dec-20	Period to 31-Dec-20	Total
Offset against contributed equity	44	25	69
Expensed to profit and loss	246	34	280
Total	290	59	349

• (d) Issue of Employee Bonus Shares ”: 800,000 Employee Bonus Shares issued at $0.25 per share.

• (e) “ Issue of Employee Options ”: 2,400,000 Employee Options issued at $0.25 per share. (f) “ Issue of Shares through IPO ”: issue of 15,658,000 Shares issued at $0.25 through the Share Offer raising $3,914,500 of cash.

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