KAISER REEF LIMITED — Share Issue/Capital Change 2021

Dec 15, 2021

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

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Announcement Summary

Entity name

KAISER REEF LIMITED

Date of this announcement

Thursday December 16, 2021

The +securities the subject of this notification are: Other

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
KAUAJ	OPTION EXPIRING 30-SEP-2024 EX $0.30	2,000,000	16/12/2021
New class - code	Unlisted Options exercisable $0.52	200,000	16/12/2021
to be confirmed
New class - code	Unlisted Options exercisable $0.60	200,000	16/12/2021
to be confirmed
New class - code	Performance Rights expiring 8 February 2022	150,000	16/12/2021
to be confirmed
New class - code	Performance Rights expiring 8 February 2023	200,000	16/12/2021
to be confirmed

Refer to next page for full details of the announcement

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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

KAISER REEF 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

ABN

Registration number

38635910271

1.3 ASX issuer code

KAU

1.4 The announcement is

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New announcement

1.5 Date of this announcement

16/12/2021

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Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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Other

Please specify

T2 Underwriter Options, Unlisted Options & Performance Rights to Director

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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has an existing ASX security code ("existing class") does not have an existing ASX security code ("new class")

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Part 3B - number and type of +securities the subject of this notification (existing class) where issue has not previously been notified to ASX in an Appendix 3B

Additional +securities in an existing class

ASX +security code and description KAUAJ : OPTION EXPIRING 30-SEP-2024 EX $0.30

Date the +securities the subject of this notification were issued 16/12/2021 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class Yes

Any other information the entity wishes to provide about the +securities the subject of this notification Refer to ASX announcement dated 6 September 2021 for further details Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B Announced in an Appendix 3B on 6 September 2021

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

Issue details

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Number of +securities

2,000,000

Were the +securities issued for a cash consideration?

Yes In what currency was the cash consideration being What was the issue price per +security? paid? AUD - Australian Dollar AUD 0.00010000 Purpose of the issue To pay for services rendered Additional Details Pursuant to Underwriter Fees

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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 ASX +security code +Security description New class - code to be confirmed Unlisted Options exercisable $0.52 +Security type ISIN code Options Date the +securities the subject of this notification were issued 16/12/2021 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? Yes Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://www.asx.com.au/asxpdf/20211018/pdf/451s78t1mtwh3z.pdf Refer to Schedule 2 Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.52000000 16/12/2024 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option Other

Description KAU: ORDINARY FULLY PAID

Any other information the entity wishes to provide about the +securities the subject of this notification N/A

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

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Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

N/A

Issue details

Number of +securities 200,000 Were the +securities issued for a cash consideration? No Please describe the consideration being provided for the +securities Nil - Pursuant to Director employment contract. Refer to Resolution 5 of 2021 AGM NoM for more details Purpose of the issue Other Additional Details Pursuant to Director employment contract. Refer to Resolution 5 of 2021 AGM NoM for more details

New +securities ASX +security code +Security description New class - code to be confirmed Unlisted Options exercisable $0.60 +Security type ISIN code Options Date the +securities the subject of this notification were issued 16/12/2021 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? Yes Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://www.asx.com.au/asxpdf/20211018/pdf/451s78t1mtwh3z.pdf Refer to Schedule 2

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Options Details

+Security currency AUD - Australian Dollar

Exercise price Expiry date AUD 0.60000000 16/12/2024

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

Description

KAU: ORDINARY FULLY PAID

Any other information the entity wishes to provide about the +securities the subject of this notification

N/A

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

N/A

Issue details

Number of +securities

200,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Nil - Pursuant to Director employment contract. Refer to Resolution 5 of 2021 AGM NoM for more details

Purpose of the issue

Other

Additional Details

Pursuant to Director employment contract. Refer to Resolution 5 of 2021 AGM NoM for more details

New +securities

ASX +security code

New class - code to be confirmed

+Security description

Performance Rights expiring 8 February 2022

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+Security type ISIN code Other Date the +securities the subject of this notification were issued 16/12/2021

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://www.asx.com.au/asxpdf/20211018/pdf/451s78t1mtwh3z.pdf Refer to Schedule 4

Any other information the entity wishes to provide about the +securities the subject of this notification

(a) 75,000 and (b) 75,000 Performance Rights (refer to Schedule 4 of AGM Notice of Meeting)

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

N/A

Issue details

Number of +securities

150,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Nil - Pursuant to Director employment contract. Refer to Resolution 5 of 2021 AGM NoM for more details

Purpose of the issue

Other

Additional Details

Pursuant to Director employment contract. Refer to Resolution 5 of 2021 AGM NoM for more details

New +securities

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ASX +security code +Security description New class - code to be confirmed Performance Rights expiring 8 February 2023 +Security type ISIN code Other

Date the +securities the subject of this notification were issued

16/12/2021

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://www.asx.com.au/asxpdf/20211018/pdf/451s78t1mtwh3z.pdf Refer to Schedule 4

Any other information the entity wishes to provide about the +securities the subject of this notification

(c) 100,000 and (d) 100,000 Performance Rights (refer to Schedule 4 of AGM Notice of Meeting) Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B N/A

Issue details

Number of +securities

200,000 Were the +securities issued for a cash consideration? No Please describe the consideration being provided for the +securities Nil - Pursuant to Director employment contract. Refer to Resolution 5 of 2021 AGM NoM for more details Purpose of the issue Other Additional Details

Pursuant to Director employment contract. Refer to Resolution 5 of 2021 AGM NoM for more details

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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
KAU : ORDINARY FULLY PAID	122,420,714
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
KAUAB : ORDINARY FULLY PAID RESTRICTED	11,440,523
KAUAC : ORDINARY FULLY PAID RESTRICTED	6,650,000
KAUAJ : OPTION EXPIRING 30-SEP-2024 EX $0.30	8,000,000
KAUAE : OPTION EXPIRING 31-JAN-2024 RESTRICTED	4,500,000
KAUAD : OPTION EXPIRING 31-JAN-2023 RESTRICTED	4,250,000
KAUAF : OPTION EXPIRING 21-FEB-2023 RESTRICTED	1,750,000
KAUAG : OPTION EXPIRING 10-AUG-2022 EX 40C	250,000
KAUAH : OPTION EXPIRING 20-JAN-2024 RESTRICTED	1,344,800
New class - code to be confirmed : Unlisted Options exercisable $0.52	200,000
New class - code to be confirmed : Unlisted Options exercisable $0.60	200,000
New class - code to be confirmed : Performance Rights expiring 8 February 2022	150,000
New class - code to be confirmed : Performance Rights expiring 8 February 2023	200,000

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? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

17/11/2021

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