MAMBA EXPLORATION LIMITED — Share Issue/Capital Change 2025

Jan 30, 2025

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

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Announcement Summary

Entity name

MAMBA EXPLORATION LIMITED

Date of this announcement

Friday January 31, 2025

The +securities the subject of this notification are:

+Other securities issued under an +employee incentive scheme that 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	M24AM -Option Exercise Price $0.03 Expiry 30	400,000	31/01/2025
to be confirmed	Jan 2027
New class - code	M24AN - Options Exercise Price $0.05 Expiry 30	400,000	31/01/2025
to be confirmed	Jan 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

MAMBA EXPLORATION LIMITED

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 ABN 75644571826

1.3 ASX issuer code

M24

1.4 The announcement is

New announcement

1.5 Date of this announcement

31/1/2025

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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 securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

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)

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ASX +security code +Security description
New class - code to be confirmed M24AM -Option Exercise Price $0.03 Expiry 30 Jan 2027
+Security type ISIN code
Options
Date the +securities the subject of this notification were issued
31/1/2025
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?
No
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being
issued.
Please refer to Mamba Employee Share Plan on Mamba Website www.mambaexploration.com.au
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Options Details
+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.03000000	30/1/2027

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

M24 : 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

Please refer to Mamba Employee Share Plan on Mamba Website www.mambaexploration.com.au

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

Issue details

Number of +securities

400,000

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ASX +security code +Security description New class - code to be confirmed M24AN - Options Exercise Price $0.05 Expiry 30 Jan 2028 +Security type ISIN code Options Date the +securities the subject of this notification were issued 31/1/2025 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? No Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Please refer to Mamba Employee Share Plan on Mamba Website www.mambaexploration.com.au

Options Details +Security currency AUD - Australian Dollar

Exercise price Expiry date AUD 0.05000000 30/1/2028

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option M24 : 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 Please refer to Mamba Employee Share Plan on Mamba Website www.mambaexploration.com.au

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

Issue details

Number of +securities

400,000

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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
M24 : ORDINARY FULLY PAID	234,957,276
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
M24AI : OPTION EXPIRING 01-FEB-2027 EX $10.967	3,000,000
M24AH : OPTION EXPIRING 01-FEB-2027 EX $8.774	3,000,000
M24AG : OPTION EXPIRING 01-FEB-2027 EX $7.677	4,000,000
M24AK : OPTION EXPIRING 26-NOV-2026 EX $0.03	2,500,000
M24AL : OPTION EXPIRING 26-NOV-2027 EX $0.05	2,500,000
M24AJ : PERFORMANCE RIGHTS	5,000,000
New class - code to be confirmed : M24AM -Option Exercise Price $0.03 Expiry 30 Jan 2027	400,000
New class - code to be confirmed : M24AN - Options Exercise Price $0.05 Expiry 30 Jan	400,000
2028

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

13

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