KORE POTASH PLC — Capital/Financing Update 2024

Nov 12, 2024

Appendix 3B - Proposed issue of securities

Update Summary

Entity name
KORE POTASH PLC

Announcement Type
Update to previous announcement

Date of this announcement
12/11/2024

Reason for update to a previous announcement
Change of proposed issue date to 26 November 2024.

Refer to next page for full details of the announcement

Appendix 3B - Proposed issue of securities
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Appendix 3B - Proposed issue of securities

Part 1 - Entity and announcement details

1.1 Name of +Entity

KORE POTASH PLC

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

ARBN

Registration Number

621843614

1.3 ASX issuer code

KP2

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Change of proposed issue date to 26 November 2024.

1.4b Date of previous announcement to this update

6/11/2024

1.5 Date of this announcement

12/11/2024

1.6 The Proposed issue is:

A placement or other type of issue

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

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?
No

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?
No

Details of +securities proposed to be issued

ASX +security code and description
KP2AA : ORDINARY FULLY PAID

Number of +securities proposed to be issued
25,441,268

Offer price details

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

In what currency is the cash consideration being paid?
GBP - Pound Sterling

What is the issue price per +security?
GBP 0.02760

AUD equivalent to issue price amount per +security
0.054000

FX rate (in format AUD 1.00 / primary currency rate):
AUD 1.00

FX rate (in format AUD rate/primary currency rate) Primary Currency rate
GBP 0.50800000

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

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

Part 7C - Timetable

7C.1 Proposed +issue date
26/11/2024

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?
No

7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?
Yes

7D.1b (i) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?
25,441,268 fully paid ordinary shares.

7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)?
No

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue?
No

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
None.

Part 7F - Further Information

7F.01 The purpose(s) for which the entity is issuing the securities
The net proceeds from the Fundraise will be used to further advance the work that is expected to lead to the signing of an EPC contract for the Kola Potash Project and provide working capital for Kore Potash.

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
Refer to ASX announcement dated 5 November 2024 for further details.

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

Appendix 3B - Proposed issue of securities
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