KORE POTASH PLC — Share Issue/Capital Change 2025

Jun 16, 2025

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

Announcement Summary

Entity name
KORE POTASH PLC

Date of this announcement
Tuesday June 17, 2025

The +securities the subject of this notification are:
+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX
Total number of +securities to be issued/transferred

ASX +security code	Security description	Total number of +securities to be issued/transferred	Issue date
New class - code to be confirmed	Unlisted Options with an exercise price of GBP 0.022 each and expiring on 9 June 2027.	9,000,000	11/06/2025
New class - code to be confirmed	Unlisted Options with an exercise price of GBP 0.0193 each and expiring on 11 June 2028.	6,000,000	11/06/2025

Refer to next page for full details of the announcement

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

Part 1 - Entity and announcement details

1.1 Name of entity
KORE POTASH PLC
We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type
Registration number
ARBN
621843614

1.3 ASX issuer code
KP2

1.4 The announcement is
New announcement

1.5 Date of this announcement
17/6/2025

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

Part 2 - Issue details

2.1 The +securities the subject of this notification are:
+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:
does not have an existing ASX security code ("new class")

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities
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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

Part 3C - number and type of +securities the subject of this notification (new class)

ASX +security code	+Security description
New class - code to be confirmed	Unlisted Options with an exercise price of GBP 0.022 each and expiring on 9 June 2027.
+Security type	ISIN code
Options

Date the +securities the subject of this notification were issued
11/6/2025

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

Were any of the +securities issued to +key management personnel (KMP) or an +associate?
Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
David Hathorn	David Hathorn	9,000,000

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1?
No

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Refer to Notice of Annual General Meeting lodged on 12 May 2025, specifically Annexure B for the Terms of the Funding Incentive Options:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02945804-6A1264231&v=04711220c3a57065317ba4efca4a3459a4e46882

Options Details

+Security currency	Exercise price	Expiry date
GBP - Pound Sterling	GBP 0.02200000	9/6/2027

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option
KP2AA : ORDINARY FULLY PAID

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

Refer to Notice of Annual General Meeting lodged on 12 May 2025, specifically Annexure A for the summarised terms of the Director and Executive Share Option Plan:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02945804-6A1264231&v=04711220c3a57065317ba4efca4a3459a4e46882

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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

The Funding Incentive Options were issued to incentivise Mr David Hathorn for facilitating the Company to secure a financing package to fully fund the development of the Company's Kola Project. The issue was subsequently approved by shareholders at the Company's Annual General Meeting held on 11 June 2025 (Resolution 14).

Issue details

Number of +securities
9,000,000

ASX +security code
New class - code to be confirmed

+Security description
Unlisted Options with an exercise price of GBP 0.0193 each and expiring on 11 June 2028.

+Security type
Options

ISIN code

Date the +securities the subject of this notification were issued
11/6/2025

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

Were any of the +securities issued to +key management personnel (KMP) or an +associate?
Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
David Hathorn	David Hathorn	2,000,000
David Netherway	David Netherway	2,000,000
Jonathan Trollip	Jonathan Trollip	2,000,000

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1?
No

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Refer to Notice of Annual General Meeting lodged on 12 May 2025, specifically Annexure C for the Terms of the Unlisted Options:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02945804-6A1264231&v=04711220c3a57065317ba4efca4a3459a4e46882

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

Options Details

+Security currency	Exercise price	Expiry date
GBP - Pound Sterling	GBP 0.01930000	11/6/2028

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

KP2AA : ORDINARY FULLY PAID

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

Refer to Notice of Annual General Meeting lodged on 12 May 2025, specifically Annexure A for the summarised terms of the Director and Executive Share Option Plan: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02945804-6A1264231&v=04711220c3a57065317ba4efca4a3459a4e46882

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

The Unlisted Options were issued to Messrs David Hathorn, David Netherway and Jonathan Trollip in cognisance of the benefit that the Company has enjoyed from the past and future deferral of director fees, together with the unusually higher demand that has been placed on them in respect of the finalisation of the Engineering, Procurement and Construction contract for the Company's Kola Project. The issues were subsequently approved by shareholders at the Company's Annual General Meeting held on 11 June 2025 (Resolutions 15, 16 and 17 respectively).

Issue details

Number of +securities

6,000,000

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this notification, the +securities of the entity will comprise:

The figures in parts 4.1 and 4.2 below are automatically generated and may not reflect the entity's current issued capital if other Appendix 2A, Appendix 3G or Appendix 3H forms are currently with ASX for processing.

4.1 Quoted +securities (Total number of each +class of +securities issued and quoted on ASX)

ASX +security code and description	Total number of +securities on issue
KP2 : CHESS DEPOSITARY INTERESTS 1:1	653,736,385

4.2 Unquoted +securities (Total number of each +class of +securities issued but not quoted on ASX)

ASX +security code and description	Total number of +securities on issue
KP2AH : OPTION EXPIRING 15-APR-2027 EX GBP 0.001	35,000,000
KP2AA : ORDINARY FULLY PAID	4,179,867,686
New class - code to be confirmed : Unlisted Options with an exercise price of GBP 0.022 each and expiring on 9 June 2027.	9,000,000
New class - code to be confirmed : Unlisted Options with an exercise price of GBP 0.0193 each and expiring on 11 June 2028.	6,000,000

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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?
Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2
14

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