NICO RESOURCES LIMITED — Director's Dealing 2023

Apr 3, 2023

Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity Nico Resources Limited

ABN 80 649 817 425

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Jonathan Shellabear
Date of appointment	03 April 2023

Part 1 - Director’s relevant interests in securities of which the director is the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Number & class of securities

200,000 Fully paid ordinary shares

250,000 Performance shares issued on 1 year service condition

250,000 Performance shares issued on 2 year service condition-

• 2,500,000 Performance Rights issued with the following vesting conditions-

• 834,000 will vest if the share price is equal to or exceeds $0.75 (calculated by a 5 Day VWAP);

• 833,000 will vest if the share price is equal to or exceeds $1.00 (calculated by a 5 Day VWAP);

• 833,000 will vest if the share price is equal to or exceeds is $1.25 (calculated by a 5 Day VWAP).

• See chapter 19 for defined terms.

11/3/2002

Appendix 3X Page 1

Appendix 3X Initial Director’s Interest Notice

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

	Name of holder & nature of interest Note: Provide details of the circumstances giving rise to the relevant interest.	Number & class of Securities Nil

Part 3 – Director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	NIL
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
No. and class of securities to which interest relates	N/A

• See chapter 19 for defined terms.

11/3/2002

Appendix 3X Page 2