MAGONTEC LIMITED — Share Issue/Capital Change 2021

Jul 5, 2021

Notification of Consolidation/Split

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Announcement Summary

Entity name

MAGONTEC LIMITED

Applicable security for the reorganisation

MGL ORDINARY FULLY PAID MGLAA PERFORMANCE RIGHTS

Announcement Type

New Announcement

Date of this announcement

6/7/2021

Reorganisation type

Security consolidation

Trading in the post consolidation or split +securities commences on a deferred settlement basis 17/8/2021

Record Date

18/8/2021

Issue Date

25/8/2021

Refer to below for full details of the announcement

Notification of Consolidation/Split

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Notification of Consolidation/Split

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Announcement Details

Part 1 - Entity and announcement details

1.1 Name of +Entity MAGONTEC LIMITED 1.2 Registered Number Type Registration Number ABN 51010441666 1.3 ASX issuer code MGL 1.4 The announcement is New announcement

1.5 Date of this announcement 6/7/2021

1.6 Securities affected by the consolidation or split

ASX +Security Code ASX +Security Description MGL ORDINARY FULLY PAID MGLAA PERFORMANCE RIGHTS

Part 2 - Approvals

2.1 Are any of the below approvals required for the consolidation or split before business day 0 of the timetable? Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity required to be given/met before business day 0 of the timetable for the consolidation or split. Yes

2.2 Approvals

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Approval/Condition	Date for determination	Is the date estimated or	Approval
+Security holder approval	6/8/2021	actual?	received/condition met?
		Actual

Comments

A resolution to conduct a share consolidation is to be put to members of the Company at a General Meeting on Friday 6 August 2021

Part 3 - Consolidation or split timetable and details

3.1 +Record date 18/8/2021 3.2 Date of +security holder meeting 6/8/2021 3.2a Effective date of consolidation or split 13/8/2021 3.3 Last day for trading in the pre consolidation or split +securities 16/8/2021

3.4 Trading in the post consolidation or split +securities commences on a deferred settlement basis. 17/8/2021

3.5 Record date

18/8/2021

3.6 First day for entity to update its register and to send holding statements to +security holders reflecting the change in the number of +securities they hold. 19/8/2021

3.7 Last day for entity to update its register and send holding statements to +security holders reflecting the change in the number of +securities they hold and to notify ASX that this has occurred. (+Issue Date) 25/8/2021

3.8 Trading starts on a normal T+2 basis

26/8/2021

3.9 First settlement of trades conducted on a +deferred settlement basis and on a normal T+2 basis 30/8/2021

Part 4 - Event type and details

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+Security consolidation

4.1 The event is

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4.1a Consolidation ratio: the +securities will be consolidated on the basis that every

15

(pre-consolidation) +securities will be consolidated into

1

(post-consolidation) +security (/ies).

4.2 Scrip fraction rounding

Fractions rounded up to the next whole number

Part 5 - +Securities on issue before and after consolidation or split

5.1 +Securities on issue before and after the consolidation or split

ASX +Security Code	ASX +Security Description
MGL	ORDINARY FULLY PAID
Quoted/unquoted	Number on issue pre	Number on issue post		Estimate/Actual
Quoted	consolidation or split	consolidation or split		Estimated
	1,150,924,806	76,728,320
ASX +Security Code	ASX +Security Description
MGLAA	PERFORMANCE RIGHTS
Quoted/unquoted	Number on issue pre	Number on issue post		Estimate/Actual
Unquoted	consolidation or split	consolidation or split		Estimated
	80,248,095	5,349,873
5.2 Exercise price of options
ASX +Security Code	ASX +Security Description
MGLAA	PERFORMANCE RIGHTS
Quoted/unquoted	Exercise price pre consolidation or		Exercise price post	consolidation or
Unquoted	split		split
	AUD 0.00000000		AUD 0.00000000

Part 6 - Further information

6.1 Further information relating to the consolidation or split

The Performance Rights may convert wholly or partially into ordinary shares of the Company depending upon the satisfaction of previously announced share price performance standards for the 3-year Long-Term Incentive Periods

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ended 31 December 2021, 31 December 2022 and 31 December 2023. Those share price performance standards will increase by fifteen (15) times to values shown in Tables 4, 5 and 6 in in the relevant Notice of Extraordinary general meeting.

6.2 Additional information for inclusion in the Announcement Summary

Notification of Consolidation/Split

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