NORDIC RESOURCES LTD — Capital/Financing Update 2025

May 25, 2025

Appendix 3B - Proposed issue of securities

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Announcement Summary

Entity name

NORDIC RESOURCES LTD

Announcement Type

New announcement

Date of this announcement

26/5/2025

The Proposed issue is:

A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
New class-code to be	Unquoted options	5,250,000
confirmed
New class-code to be	Unquoted option	2,500,000
confirmed
NNL	ORDINARY FULLY PAID	60,312,134

Proposed +issue date

1/7/2025

Refer to next page for full details of the announcement

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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

NORDIC RESOURCES LTD

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

ACN

Registration Number

647455105

1.3 ASX issuer code

NNL

1.4 The announcement is

New announcement

1.5 Date of this announcement

26/5/2025

1.6 The Proposed issue is:

A placement or other type of issue

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Appendix 3B - Proposed issue of securities

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis? Yes 7A.1a Conditions

Approval/Condition

Approval/Condition Date for determination +Security holder approval 30/6/2025

Is the date estimated or ** Approval actual? received/condition met? Estimated No

Comments

Part 7B - Issue details

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 +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +security code and description

NNL : ORDINARY FULLY PAID

Number of +securities proposed to be issued

58,333,334

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? Yes

In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 0.06000

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

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Appendix 3B - Proposed issue of securities

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	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)?
	Existing class
	Details of +securities proposed to be issued
	ASX +security code and description
	NNL : ORDINARY FULLY PAID
	Number of +securities proposed to be issued
	1,978,800
	Offer price details
	Are the +securities proposed to be issued being issued for a cash
	consideration?
	No
	Please describe the consideration being provided for the +securities Part consideration for placement agent and bookrunner services provided by Powerhouse Advisory Australia Pty Ltd.
	Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities
	118,728.000000
	Will these +securities rank equally in all respects from their issue date with
	the existing issued +securities in that	class?
	Yes
	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?	No
	No

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Appendix 3B - Proposed issue of securities

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ASX +security code +Security description New class-code to be confirmed Unquoted options +Security type Options Number of +securities proposed to be issued 5,250,000 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? No Please describe the consideration being provided for the +securities Part consideration for placement agent and bookrunner services provided by Powerhouse Advisory Australia Pty Ltd. Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 174,381.000000 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Options details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.0900 1/7/2028 Details of the type of +security that will be issued if the option is exercised NNL : ORDINARY FULLY PAID Number of securities that will be issued if the option is exercised 1:1 basis 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. 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

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Appendix 3B - Proposed issue of securities

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Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs	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?	No
No
ASX +security code New class-code to be confirmed	+Security description Unquoted option
+Security type
Options
Number of +securities proposed to be issued
2,500,000
Offer price details
Are the +securities proposed to be issued being issued for a cash consideration?
No
Please describe the consideration being provided for the +securities
Incentive options awarded to newly appointed Non-executive Chairman.
Please provide an estimate of the AUD equivalent of the consideration being
provided for the +securities
83,039.000000
Will all the +securities issued in this class rank equally in all respects from
their issue date?
Yes
Options details
+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.0900	1/7/2028
Details of the type of +security that will be issued if the option is exercised
NNL : ORDINARY FULLY PAID
Number of securities that will be issued if the option is exercised
1:1 basis
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

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Part 7C - Timetable

7C.1 Proposed +issue date

1/7/2025

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? Yes

7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

30/6/2025

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Yes

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? Yes

7E.1a Who is the lead manager/broker?

Canaccord Genuity (Australia) Limited (Lead Manager) and Powerhouse Advisory Australia Pty Ltd (placement agent and bookrunner).

7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

The Company will pay the following capital raising fees:

1. Up to 6% on funds raised under the placement, payable in cash and shares; a. 40% payable in cash (A$79,152); and

2. b. 60% payable in shares issued at the offer price (1,978,800 new shares), subject to shareholder approval.

3. 5,250,000 unlisted options at a strike of A$0.09 and a three-year expiry, subject to shareholder approval."

7E.2 Is the proposed issue to be underwritten? No

• 7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

Part 7F - Further Information

7F.01 The purpose(s) for which the entity is issuing the securities

The funds raised will be used to upscale its upcoming drill program at the Kopsa and Kiimala gold-copper projects and to progress its near-term processing options analysis study.

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

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Appendix 3B - Proposed issue of securities

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7F.2 Any other information the entity wishes to provide about the proposed issue

7F.3 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 cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)

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