LORD RESOURCES LIMITED — Capital/Financing Update 2023

May 11, 2023

ASX ANNOUNCEMENT 12 May 2023

==> picture [104 x 82] intentionally omitted <==

CONVERSION OF PERFORMANCE RIGHTS

Lord Resources Limited (ASX: LRD) (“Lord” or the “Company”) advises the issue of 3.8 million ordinary shares (Shares) to the directors of the Company arising from the conversion of 3.8 million performance rights, which vested upon

• (i) the completion of the 12 -month anniversary of the Company’s IPO (7 April 2022-7 April 2023); and

• (ii) the Company’s shares achieving a volume weighted average price per share of 25% greater ($0.25) than the Company’s IPO subscription price ($0.20), calculated over any 20 consecutive trading days on which the Shares are recorded on ASX. This hurdle was met on 23 May 2022.

The performance rights were approved by shareholders at a general meeting held on 15 December 2021.

As the performance rights were subject to 24 months escrow from the date of quotation of LRD’s shares on the Official List of ASX, the Shares will be escrowed to the same date and the Company will seek quotation of the Shares at the applicable time.

Cleansing Notice

The Company hereby notifies ASX under section 708A(5)(e) of the Corporations Act that:

• The Shares were issued without disclosure to investors under Part 6D.2 of the

• Corporations Act;

• as at the date of this notice, it has complied with the relevant provisions of Chapter

• 2M of the Corporations Act as they apply to the Company and Section 674 of the Corporations Act; and

• as at the date of this notice, there is no excluded information, as that term is defined in Sections 708A(6)(e), 708A(7) and 708A(8) of the Corporations Act.

- END –

This release is authorised by the Board of Directors of Lord Resources Limited.

For further information please contact:

Barnaby Egerton-Warburton

Managing Director E: bew@lordresources.com P: +61 437 291 155

ABOUT LORD RESOURCES

Lord Resources is an exploration company with a highly prospective portfolio of future facing metals located within Western Australia’s famed Greenstone belts and close to high profile and prolific historic and producing mines. Lord Resources’ five largely unexplored projects provide exposure to lithium, nickel, PGE and gold sectors.

1