LIGHTNING MINERALS LTD — Share Issue/Capital Change 2025

Aug 19, 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

Wednesday August 20, 2025

The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

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	200,000	14/08/2025
to be confirmed	expiry date of 14 August 2029
New class - code	Options with an exercise price of $0.25 and an	125,000	14/08/2025
to be confirmed	expiry date of 14 August 2029
New class - code	Options with an exercise price of $0.105 and an	175,000	14/08/2025
to be confirmed	expiry date of 14 August 2029

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

20/8/2025

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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:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

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")

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

New +securities issued under an +employee incentive scheme

ASX +security code		+Security description	+Security description
New class - code to be confirmed		Options with an exercise price of $0.075 and an expiry date of 14 August 2029
+Security type		ISIN code
Options
Date the +securities the subject of this notification were		issued
14/8/2025
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?
No
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/20231018/pdf/05w5vdvkqsxgmp.pdf
Annexure A
Options Details
+Security currency	Exercise price		Expiry date
AUD - Australian Dollar	AUD 0.07500000		14/8/2029
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

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 https://announcements.asx.com.au/asxpdf/20231018/pdf/05w5vdvkqsxgmp.pdf Annexure E Any other information the entity wishes to provide about the +securities the subject of this notification 50% vest 1 year from issue and 50% vest 2 years from issue subject to ongoing employment of option holder.

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Issue details

Number of +securities

	Number of +securities
	200,000
	New +securities issued under an +employee incentive scheme
	ASX +security code		+Security description
	New class - code to be confirmed		Options with an exercise price of $0.25 and an expiry date of 14 August 2029
	+Security type		ISIN code
	Options
	Date the +securities the subject of this notification were		issued
	14/8/2025
	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?
	No
	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/20231018/pdf/05w5vdvkqsxgmp.pdf
	Annexure A
	Options Details
	+Security currency	Exercise price		Expiry date
	AUD - Australian Dollar	AUD 0.25000000		14/8/2029
	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

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 https://announcements.asx.com.au/asxpdf/20231018/pdf/05w5vdvkqsxgmp.pdf Annexure E Any other information the entity wishes to provide about the +securities the subject of this notification 50% vest 1 year from issue and 50% vest 2 years from issue subject to ongoing employment of option holder.

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Issue details

Number of +securities

	Number of +securities
	125,000
	New +securities issued under an +employee incentive scheme
	ASX +security code		+Security description
	New class - code to be confirmed		Options with an exercise price of $0.105 and an expiry date of 14 August 2029
	+Security type		ISIN code
	Options
	Date the +securities the subject of this notification were		issued
	14/8/2025
	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?
	No
	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/20231018/pdf/05w5vdvkqsxgmp.pdf
	Annexure A
	Options Details
	+Security currency	Exercise price		Expiry date
	AUD - Australian Dollar	AUD 0.10500000		14/8/2029
	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

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 https://announcements.asx.com.au/asxpdf/20231018/pdf/05w5vdvkqsxgmp.pdf Annexure E Any other information the entity wishes to provide about the +securities the subject of this notification 50% vest 1 year from issue and 50% vest 2 years from issue subject to ongoing employment of option holder.

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

Issue details

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Number of +securities

175,000

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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	118,827,567
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
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	200,000
date of 14 August 2029
New class - code to be confirmed : Options with an exercise price of $0.25 and an expiry	125,000
date of 14 August 2029
New class - code to be confirmed : Options with an exercise price of $0.105 and an expiry	175,000
date of 14 August 2029

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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