MINBOS RESOURCES LIMITED — Capital/Financing Update 2018

May 10, 2018

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11 May 2018

Company Announcements Platform Australian Securities Exchange Level 4 20 Bridge Street SYDNEY NSW 2000

By Electronic Lodgement

Dear Sir/Madam

NOTICE UNDER SECTION 708AA(2)(f) OF THE CORPORATIONS ACT 2001

This notice is given by Minbos Resources Limited ( Company ) under section 708AA(2)(f) of the Corporations Act 2001 (Cth) ( Corporations Act ) as notionally modified by Australian Securities and Investment Commission ASIC Corporations (Non-Traditional Rights Issues) Instrument 2016/84 ( ASIC Instrument ). References in this notice of the Corporations Act are references to the Corporations Act as modified or amended by the ASIC Instrument.

The Company has announced its intention to undertake an equity raising of up to approximately $2.83 million via a non-renounceable entitlement offer. The raising comprises a non-renounceable pro-rata entitlement offer of fully paid ordinary shares ( Shares ), on the basis of one (1) new Share for every one (1) Share held as at 5pm (WST) on 16 May 2018 to eligible shareholders with a registered address in Australia and New Zealand ( Entitlement Offer ).

Based on the current capital structure a total of an additional 2,827,280,660 Shares will be issued if the Entitlement Offer is fully subscribed and the amount raised will be approximately $2,827,280.

Any shortfall under the Entitlement Offer ( Shortfall ) will be dealt with by the Company at their discretion.

The Company hereby confirms that in respect of the Entitlement Offer (as per the requirements of paragraph 708AA(2)(f) of the Corporations Act):

• (a) the Company will offer the Shares for issue without disclosure to investors under Part 6D.2 of the Corporations Act;

• (b) the Company is providing this notice under paragraph 2(f) of section 708AA of the Corporations Act;

• (c)

as at the date of this notice the Company has complied with:

• (i) the provisions of Chapter 2M of the Corporations Act as they apply to the Company;

• (ii) section 674 of the Corporations Act as it applies to the Company;

• (d) as at the date of this notice, there is no excluded information of the type referred to in sections 708AA(8) and 708AA(9) of the Corporations Act; and

• (e) the potential effect that the issue of the new Shares pursuant to the Entitlement Offer will have on the control of the Company is as follows:

• (i) if all eligible shareholders take up their entitlements under the Entitlement Offer, the issue of Shares under the Entitlement Offer will have no effect on the control of the Company and all shareholders will hold the same percentage interest in the Company, subject only to changes resulting from ineligible shareholders being unable to participate in the Entitlement Offer;

• (ii) in the more likely event that there is a Shortfall, eligible shareholders who do not subscribe for their full entitlement of Shares under the Entitlement Offer and ineligible shareholders unable to participate in the Entitlement Offer will be diluted relative to those shareholders who subscribe for some or all of their Entitlement and those persons who subscribe for the Shortfall.

Yours sincerely

NICK DAY Company Secretary/CFO