LEEUWIN METALS LTD — Share Issue/Capital Change 2025

Nov 19, 2025

Appendix 2A - Application for quotation of securities

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Announcement Summary

Entity name

LEEUWIN METALS LTD

Announcement Type

New announcement

Date of this announcement

Thursday November 20, 2025

The +securities to be quoted are:

+Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities being converted

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
LM1	ORDINARY FULLY PAID	1,250,000	20/11/2025

Refer to next page for full details of the announcement

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Appendix 2A - Application for quotation of securities

Part 1 - Entity and announcement details

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1.1 Name of entity

LEEUWIN METALS LTD

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type

Registration number

ABN 82656057215

1.3 ASX issuer code

LM1

1.4 The announcement is

New announcement

1.5 Date of this announcement

20/11/2025

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Appendix 2A - Application for quotation of securities

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Part 2 - Type of Issue

2.1 The +securities to be quoted are:

+Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities being converted

2.2 The +class of +securities to be quoted is:

Additional +securities in a class that is already quoted on ASX ("existing class")

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Appendix 2A - Application for quotation of securities

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

Existing +securities converting into additional +securities in an existing class FROM (Existing Class) ASX +security code and description LM1AL : PERFORMANCE RIGHTS

TO (Existing Class) ASX +security code and description LM1 : ORDINARY FULLY PAID

Please state the number of options	The first date the options were	The last date the options were
that were exercised or other	exercised or other +convertible	exercised or other +convertible
+convertible securities that were	securities were converted	securities were converted
converted		20/11/2025
1,250,000

Is this all of the options or other +convertible securities on issue of that type (ie have all of those options now been exercised or have all of those convertible securities now been converted)? No

The right of the holder of the options or other +convertible securities to receive the +underlying securities is being satisfied by: An issue of new +securities

The underlying +securities being received by the holder are: Intended to be, but are not yet, quoted by ASX

Were the options being exercised or other +convertible securities being converted issued under an +employee incentive scheme? Yes

Are any of the options being exercised or other +convertible securities being converted held by +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates who are exercising options or converting convertible securities

		Number of options being exercised
		or other +convertible securities
Name of KMP	Name of registered holder	being converted
Christopher Piggott	Tito Holdings Pty Ltd A/C>	450,000
Simon Jackson	Bigjac Investments Pty Ltd Investment A/C>	175,000
Scott Williamson	Candice Williamson	175,000

Issue date

20/11/2025

Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class?

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Appendix 2A - Application for quotation of securities

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Yes

Issue details

Number of +securities to be quoted

1,250,000

Are the +securities being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

Nil exercise price performance rights

Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted

0.00000001

Any other information the entity wishes to provide about the +securities to be quoted

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Appendix 2A - Application for quotation of securities

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Part 4 - Issued capital following quotation

Following the quotation of the +securities the subject of this application, the issued capital 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 quoted on ASX following the +quotation of the +securities subject of this application)

+securities subject of this application)
	Total number of
ASX +security code and description	+securities on issue
LM1 : ORDINARY FULLY PAID	126,737,236
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
LM1AK : OPTION EXPIRING 21-MAR-2028 EX $0.1715	3,250,000
LM1AG : OPTION EXPIRING 23-MAR-2026 EX $0.30	3,000,000
LM1AH : OPTION EXPIRING 31-MAY-2027 EX $0.50	2,500,000
LM1AL : PERFORMANCE RIGHTS	5,450,000
LM1AI : OPTION EXPIRING 12-MAY-2028 EX $0.30	23,500,000

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

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