MEC RESOURCES LIMITED — Capital/Financing Update 2024

Nov 21, 2024

Appendix 3B - Proposed issue of securities

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Update Summary

Entity name

MEC RESOURCES LIMITED

Announcement Type

Update to previous announcement

Date of this announcement

22/11/2024

Reason for update to a previous announcement

The shares and options in relation to the Entitlement Offer Prospectus were issued on the 21 Nov 2024. Update of Part 3B of this document noting that as a result of the issue of Options on 21 Nov 2024 the updated expiry date of these Options is 21 Nov 2025. Other terms and conditions remain as disclosed in the Prospectus.

Refer to next page for full details of the announcement

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

MEC RESOURCES LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

Registration Number

ABN 44113900020

1.3 ASX issuer code

MMR

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

The shares and options in relation to the Entitlement Offer Prospectus were issued on the 21 Nov 2024. Update of Part 3B of this document noting that as a result of the issue of Options on 21 Nov 2024 the updated expiry date of these Options is 21 Nov 2025. Other terms and conditions remain as disclosed in the Prospectus.

1.4b Date of previous announcement to this update

14/10/2024

1.5 Date of this announcement

22/11/2024

1.6 The Proposed issue is:

A standard +pro rata issue (non-renounceable or renounceable)

1.6a The proposed standard +pro rata issue is:

• Non-renounceable

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Appendix 3B - Proposed issue of securities

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Part 3 - Details of proposed entitlement offer issue

Part 3A - Conditions

3A.1 Do any external approvals need to be obtained or other conditions satisfied before the entitlement offer can proceed on an unconditional basis? No

Part 3B - Offer details

+Class or classes of +securities that will participate in the proposed issue and +class or classes of +securities proposed to be issued

ASX +security code and description

MMR : ORDINARY FULLY PAID

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this If the entity has quoted company +security include an offer of options, do the terms entitle option attaching +securities? holders to participate on exercise? Yes No

Details of +securities proposed to be issued

ASX +security code and description

MMR : ORDINARY FULLY PAID

ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is foreign company and +securities do not have +CDIs issued over them)

Offer ratio (ratio to existing holdings at which the proposed +securities will be issued) The quantity of additional +securities For a given quantity of +securities to be issued held

1 1

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Appendix 3B - Proposed issue of securities

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What will be done with fractional Maximum number of +securities entitlements? proposed to be issued (subject to rounding) Fractions rounded up to the next 978,972,711 whole number

Offer price details for retail security holders

In what currency will the offer be What is the offer price per +security made? for the retail offer? AUD - Australian Dollar AUD 0.00500

Oversubscription & Scale back details

Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)? No

Will a scale back be applied if the offer is over-subscribed? No

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Attaching +Security

Is the proposed attaching security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional +securities in a class that is already quoted or recorded by ASX)? New class

Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX)

Details of attaching +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is foreign company and +securities do not have +CDIs issued over them)

Have you received confirmation from ASX that the terms Will the entity be seeking quotation of the 'new' class of of the proposed +securities are appropriate and +securities on ASX? equitable under listing rule 6.1? Yes Yes ASX +security code +Security description New class-code to be confirmed option

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Appendix 3B - Proposed issue of securities

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+Security type

Options

Offer ratio (ratio of attaching securities at which the new +securities will be issued) The quantity of attaching +securities to be issued For a given quantity of the new +securities issued 1 2 What will be done with fractional entitlements? Maximum number of +securities proposed to be issued (subject to rounding) Fractions rounded up to the next whole number 489,486,356 Offer price details for retail security holders In what currency will the offer be made? What is the offer price per +security for the retail offer? AUD 0.00000 AUD - Australian Dollar Oversubscription & Scale back details Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)? No Will a scale back be applied if the offer is over-subscribed? No Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Options details
+Security currency
AUD - Australian Dollar
Exercise price Expiry date
AUD 0.0300 25/10/2025
Details of the type of +security that will be issued if the option is exercised
MMR : ORDINARY FULLY PAID
Number of securities that will be issued if the option is exercised 489486356
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities
proposed to be issued or provide the information by separate announcement.

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Appendix 3B - Proposed issue of securities

Part 3C - Timetable

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3C.1 +Record date

27/9/2024

3C.2 Ex date

26/9/2024

3C.4 Record date

27/9/2024

3C.5 Date on which offer documents will be sent to +security holders entitled to participate in the +pro rata issue

2/10/2024

3C.6 Offer closing date

25/10/2024

3C.7 Last day to extend the offer closing date

22/10/2024

3C.9 Trading in new +securities commences on a deferred settlement basis

28/10/2024

3C.11 +Issue date and last day for entity to announce results of +pro rata issue

25/11/2024

3C.12 Date trading starts on a normal T+2 basis

26/11/2024

3C.13 First settlement date of trades conducted on a +deferred settlement basis and on a normal T+2 basis

28/11/2024

Part 3E - Fees and expenses

3E.1 Will there be a lead manager or broker to the proposed offer? Yes

3E.1a Who is the lead manager/broker?

Grandbridge Securities Pty Ltd - lead broker Sixty-Two Capital - lead broker to shortfall offer

3E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

Grandbridge Securities Pty Ltd will receive a lead management fee of 1% of all funds raised under the Offer. Sixty-Two Capital will receive a lead management fee of 5% of all funds placed under the Shortfall Offer.

3E.2 Is the proposed offer to be underwritten?

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Appendix 3B - Proposed issue of securities

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No

3E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? Yes

3E.3a Will the handling fee or commission be Dollar based or Percentage based? Percentage based (%)

3E.3b Amount of any handling fee or commission payable to brokers who lodge acceptances or renunciations on behalf of eligible security holders

5.000000 %

3E.3c Please provide any other relevant information about the handling fee or commission method

3E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer

Part 3F - Further Information

3F.1 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

Additional investment into its investee company Advent Energy Ltd, new investment opportunities under Pooled Development Fund requirements, corporate costs, costs of the offer and working capital.

3F.2 Will holdings on different registers or subregisters be aggregated for the purposes of determining entitlements to the issue? No

3F.3 Will the entity be changing its dividend/distribution policy if the proposed issue is successful? No

3F.4 Countries in which the entity has +security holders who will not be eligible to participate in the proposed issue

3F.5 Will the offer be made to eligible beneficiaries on whose behalf eligible nominees or custodians hold existing +securities No

3F.6 URL on the entity's website where investors can download information about the proposed issue https://www.mecresources.com.au/investors/prospectus/

3F.7 Any other information the entity wishes to provide about the proposed issue

3F.8 Will the offer of rights under the rights issue be made under a +disclosure document or product disclosure statement under Chapter 6D or Part 7.9 of the Corporations Act (as applicable)? Yes

3F.9 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a +disclosure document or +PDS involving the same class of securities as the +securities proposed to be issued that meets the requirements of section 708A(11) or 1012DA(11)

Appendix 3B - Proposed issue of securities

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