MT MALCOLM MINES NL — Capital/Financing Update 2023

Oct 30, 2023

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ACN: 646 466 435 ASX: M2M

ASX Announcement

31 October 2023

Director Loan Mt Malcom Mines NL (ASX:M2M) ( Company ) wishes to advise that Mr Trevor Dixon, Managing Director of the Company, has agreed to provide the Company with a short term, unsecured loan facility of up to A$500,000 on commercial and arms’ length terms. The loan is not convertible into shares and is repayable in cash.

The loan facility can be drawn down by the Company from 31 October 2023 with all funds from the loan to be applied towards working capital purposes of the Company.

The material terms of the loan facility agreement are as follows:

• Loan facility amount: $500,000, of which the Company will be drawing down $250,000 immediately.

• Loan term: 12 months (requiring repayment by 31 October 2024).

• Interest rate: 5% per annum on any amounts drawn down.

• Security: Nil.

• The agreement does not include any right to convert the loan to M2M shares.

• Termination: The agreement shall terminate on the first to occur of an event of default (as defined in the agreement), written agreement between the parties or repayment of all outstanding balances.

• The agreement also contains warranty and covenant clauses standard for an agreement of this nature.

This release has been issued with the authorisation of the Board.

Henko Vos Company Secretary

mtmalcolm.com.au info@mtmalcolm.com.au Phone: (08) 6244 6617