LIGHTNING MINERALS LTD — Share Issue/Capital Change 2025

Sep 18, 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

Friday September 19, 2025

The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	Options with an exercise price of $0.075 and an	14,733,331	18/09/2025
to be confirmed	expiry date of 18 September 2028.

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

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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

19/9/2025

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

Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Previous Appendix 3B details:

Announcement Date and	Announcement Title	Selected Appendix 3B to submit quotation
Time		request
30-Jun-2025 09:33	New - Proposed issue of securities -	A placement or other type of issue
	L1M

2.3a.2 Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B?

No

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

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Part 3A - number and type of +securities the subject of this notification (existing class or new class) where issue has previously been

notified to ASX in an Appendix 3B

Placement Details

ASX +security code and description new unquoted class of security

Date the +securities the subject of this notification were issued

18/9/2025

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

Issue details

Number of +securities

14,733,331 Were the +securities issued for a cash consideration? No

Please describe the consideration being provided for the +securities

Placement Options allocated at the discretion of GBA Capital Holdings to participants in the placement as announced to ASX on 30 June 2025.

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

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

ASX +security code New class - code to be confirmed	+Security description Options with an exercise price of $0.075 and an expiry date of 18 September 2028.
+Security type	ISIN code
Options
Date the +securities the subject of this notification were issued
18/9/2025
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/20250725/pdf/06m4q38lmrsfh8.pdf
Options Details
+Security currency	Exercise price Expiry date
AUD - Australian Dollar	AUD 0.07500000 18/9/2028
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

Issue details

Number of +securities

14,733,331

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

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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	189,203,319
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	5,450,000
L1MAO : PERFORMANCE RIGHTS	46,049,999
L1MAQ : OPTION EXPIRING 14-AUG-2029 EX $0.075	200,000
L1MAR : OPTION EXPIRING 14-AUG-2029 EX $0.25	125,000
L1MAS : OPTION EXPIRING 14-AUG-2029 EX $0.105	175,000
L1MAP : OPTION EXPIRING 18-JUN-2027 EX $0.105	6,000,000
L1MAG : OPTION EXPIRING 14-NOV-2026 EX $0.25	5,000,000
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 $0.075 and an expiry	14,733,331
date of 18 September 2028.

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

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

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