MEC RESOURCES LIMITED — Capital/Financing Update 2025

Dec 9, 2025

Appendix 3B - Proposed issue of securities

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Announcement Summary

Entity name

MEC RESOURCES LIMITED

Announcement Type

New announcement

Date of this announcement

9/12/2025

The Proposed issue is:

A non pro rata offer of securities under a disclosure document or product disclosure statement (PDS)

Total number of +securities proposed to be issued for a non pro rata offer of securities under a disclosure document or product disclosure statement (PDS)

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
New class-code to be	Options issued at $0.001 with expiry 12 months from the	373535605
confirmed	date of issue

Closing date for receipt of acceptances

20/1/2026

Proposed +issue date

27/1/2026

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

New announcement

1.5 Date of this announcement

9/12/2025

1.6 The Proposed issue is:

A non-+pro rata offer of +securities under a +disclosure document or +PDS

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Appendix 3B - Proposed issue of securities

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Part 5 - Details of proposed non-pro rata offer under a +disclosure document or +PDS

Part 5A - Conditions

5A.1 Do any external approvals need to be obtained or other conditions satisfied before the non-pro rata offer of +securities under a +disclosure document or + PDS can proceed on an unconditional basis? Yes 5A.1a Conditions

Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? +Security holder approval 27/11/2025 Actual Yes

Comments

Part 5B - Offer details

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? New class

Details of +securities proposed to be issued

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

Have you received confirmation from Will the entity be seeking quotation ASX that the terms of the proposed of the 'new' class of +securities on +securities are appropriate and ASX? equitable under listing rule 6.1? Yes Yes ASX +security code +Security description New class-code to be confirmed Options issued at $0.001 with expiry 12 months from the date of issue

+Security type

Options

The number of +securities to be offered under the +disclosure document or +PDS 373,535,605

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Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities
Will the offer be conditional on applications for a minimum number of
+securities being received or a minimum amount being raised (i.e. a
minimum subscription condition)?
No
Will individual security holders be required to accept the offer for a
minimum number or value of +securities (i.e. a minimum acceptance
condition)?
No
Will individual security holders be limited to accepting the offer for a
maximum number or value of +securities (i.e. a maximum acceptance
condition)?
No
Offer price details
Has the offer price been determined?
Yes
In what currency will the offer beWhat is the offer price per +security?
made?AUD 0.00100
AUD - Australian Dollar
Oversubscription & Scale back details
Will the entity be entitled to accept over-subscriptions?
No
Will a scale back be applied if the offer is over-subscribed?
Yes
Describe the scale back arrangements
Scale back will be applied to the Shortfall Offer on a pro rata basis to the respective shareholdings of the Eligible
Participants.
Will all the +securities issued in this class rank equally in all respects from
their issue date?
Yes
Options details
+Security currencyExercise price	Expiry date
AUD - Australian DollarAUD 0.0300
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
up to 373,535,605
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.https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03032274-6A1301127&v=undefined

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Appendix 3B - Proposed issue of securities

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Part 5C - Timetable

5C.1 Lodgement date of +disclosure document or +PDS with ASIC 2/12/2025 5C.2 Date when +disclosure document or +PDS and acceptance forms will be made available to investors 4/12/2025 5C.3 Offer open date 4/12/2025

5C.4 Closing date for receipt of acceptances 20/1/2026

5C.6 Proposed +issue date 27/1/2026

Part 5D - Listing Rule requirements

5D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? Yes

5D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 27/11/2025 5D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Yes

Part 5E - Fees and expenses

5E.1 Will there be a lead manager or broker to the proposed offer? Yes 5E.1a Who is the lead manager/broker? Veritas Securities Limited acting as Authorised Intermediary 5E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker? A flat fee of $12,500 (excluding GST) to Veritas Securities Limited 5E.2 Is the proposed offer to be underwritten? No 5E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? Yes 5E.3a Will the handling fee or commission be Dollar based or Percentage based? Percentage based (%) 5E.3b Amount of any handling fee or commission payable to brokers who lodge acceptances on behalf of

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Appendix 3B - Proposed issue of securities

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investors

5.000000 %

5E.3c Please provide any other relevant information about the handling fee or commission method

A 5% (excluding GST) commission to any licensed securities dealers for amounts subscribed under the Shortfall Offer

5E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer

ASIC fees $3,206 ASX fees $3,503 Legal fees $15,000 Authorised Intermediary fees $12,500 Print & dispatch $1,831

Part 5F - Further Information

5F.01 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

Primary purpose to provide Eligible Participants with the opportunity to continue to participate in the ongoing development of the Company.

5F.1 Will the entity be changing its dividend/distribution policy if the proposed offer is successful? No

5F.2 Please explain the entity's allocation policy for the offer, including whether or not acceptances from existing +security holders will be given priority

Scale back will be applied to applications under the Shortfall Offer on a pro-rata basis to the respective shareholders of Eligible Participants. There is no guarantee that Eligible Participants will receive New Options applied for under the Shortfall Offer.

5F.3 URL on the entity's website where investors can download the +disclosure document or +PDS

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03032274-6A1301127&v=undefined

5F.4 Any other information the entity wishes to provide about the proposed offer

N/A

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