LIGHTNING MINERALS LTD — Share Issue/Capital Change 2025

Dec 14, 2025

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

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Announcement Summary

Entity name

LIGHTNING MINERALS LTD

Date of this announcement

Monday December 15, 2025

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
L1MAN	OPTION EXPIRING 27-SEP-2027 EX $0.25	500,000	12/12/2025
L1MAO	PERFORMANCE RIGHTS	872,728	12/12/2025
New class - code	Options with an exercise price of $0.25 expiring 12	500,000	12/12/2025
to be confirmed	December 2030.

Refer to next page for full details of the announcement

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Appendix 3G - 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

LIGHTNING MINERALS LTD

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 ACN 656005122

1.3 ASX issuer code

L1M

1.4 The announcement is

New announcement

1.5 Date of this announcement

15/12/2025

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

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

Other

Please specify

Issue of Options and Performance Rights to Directors approved by shareholders on 27 November 2025.

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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

L1MAN : OPTION EXPIRING 27-SEP-2027 EX $0.25

Date the +securities the subject of this notification were issued

12/12/2025

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

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

Issue of Options to Director, Jamie Day, detailed in initial directors interest notice, notice of meeting lodged with ASX on 27 October 2025 and approved by shareholders at AGM on 27 November 2025.

Issue details

Number of +securities

500,000

Were the +securities issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

Issued as director performance based remuneration.

Purpose of the issue

Other

Additional Details

Issued as director performance based remuneration.

Additional +securities in an existing class

ASX +security code and description

L1MAO : PERFORMANCE RIGHTS

Date the +securities the subject of this notification were issued

12/12/2025

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

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+securities in that class Yes

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

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

Issue of Performance Rights to Directors detailed in initial directors interest notices, notice of meeting lodged with ASX on 27 October 2025 and approved by shareholders at AGM on 27 November 2025.

Issue details

Number of +securities

872,728

Were the +securities issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

Issued as director performance based remuneration.

Purpose of the issue

Other

Additional Details

Issued as director performance based remuneration.

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

New +securities

ASX +security code +Security description New class - code to be confirmed Options with an exercise price of $0.25 expiring 12 December 2030. +Security type ISIN code Options Date the +securities the subject of this notification were issued 12/12/2025 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://announcements.asx.com.au/asxpdf/20251027/pdf/06r377f1bn7w20.pdf Annexure A

Options Details

+Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.25000000 12/12/2030

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

L1M : ORDINARY FULLY PAID

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

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

Issue of Options to Director, David Vilensky, detailed in initial directors interest notice, notice of meeting lodged with ASX on 27 October 2025 and approved by shareholders at AGM on 27 November 2025.

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Issue details

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Number of +securities 500,000 Were the +securities issued for a cash consideration? No Please describe the consideration being provided for the +securities Performance based director remuneration. Purpose of the issue Other Additional Details Performance based director remuneration.

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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)

	Total number of
ASX +security code and description	+securities on issue
L1M : ORDINARY FULLY PAID	247,910,398
L1MO : OPTION EXPIRING 13-MAR-2028	40,389,258
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
L1MAN : OPTION EXPIRING 27-SEP-2027 EX $0.25	5,950,000
L1MAO : PERFORMANCE RIGHTS	46,922,727
L1MAQ : OPTION EXPIRING 14-AUG-2029 EX $0.075	400,000
L1MAR : OPTION EXPIRING 14-AUG-2029 EX $0.25	250,000
L1MAS : OPTION EXPIRING 14-AUG-2029 EX $0.105	350,000
L1MAP : OPTION EXPIRING 18-JUN-2027 EX $0.105	6,000,000
L1MAG : OPTION EXPIRING 14-NOV-2026 EX $0.25	5,000,000
L1MAT : OPTION EXPIRING 18-SEP-2028 EX $0.075	14,733,331
L1MAK : OPTION EXPIRING 06-APR-2027 EX $0.30	80,000
L1MAL : OPTION EXPIRING 06-APR-2027 EX $0.40	110,000
L1MAM : OPTION EXPIRING 06-APR-2027 EX $0.50	140,000
New class - code to be confirmed : Options with an exercise price of $0.25 expiring 12	500,000
December 2030.

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? Yes

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

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