KAISER REEF LIMITED — Capital/Financing Update 2021

Sep 20, 2021

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ASX RELEASE

21 September 2021

Dispatch of Rights Issue Documentation Completed

Kaiser Reef Limited ( “Kaiser” or the “Company” ) ( ASX: KAU ) is pleased to advise that in accordance with Non-Renounceable Rights Issue (“ Rights Issue ”) timetable included in a short form Prospectus for the Rights Issue (“Prospectus”) announced to the market on Monday, 6 September 2021, dispatch of the Prospectus, together with personalised Entitlements and Acceptance Form to Eligible Shareholders was completed today.

The Non-Renounceable Rights Issue Offer (‘ Rights Issue Offer ”) is being made to all shareholders of the Company (“ Shareholders ”) who held shares at 5:00pm (WST) on Thursday, 16 September 2021 (“ Record Date ”), whose registered address is in Australia or New Zealand. The Rights Issue Offer will close at 5:00pm (WST) on Tuesday, 5 October 2021 (unless extended).

An electronic copy of the Prospectus, along with the information with respect to application of Eligible shareholders entitlement under the Rights Issue Offer, is also accessible via Company’s website at https://www.kaiserreef.com.au/.

Eligible shareholders should consider the Prospectus in deciding whether to acquire securities under the Rights Issue and will need to complete the personalised entitlement and acceptance form that will accompany the Prospectus dispatch documents. Eligible shareholder who have any queries concerning the Rights Issue Offer, please contact your financial adviser or Automic on 1300 288 664 (within Australia), +61 2 9698 5414 (outside Australia) or at corporate.actions@automic.com.au between 9:00am and 5:00pm (AEST).

This announcement has been authorised for release to the market by Executive Director, Jonathan Downes.

For further information: Jonathan Downes Jane Morgan Executive Director Investor & Media Relations admin@kaiserreef.com.au jm@janemorganmanagement.com.au +61404 555 618