NORONEX LIMITED — Share Issue/Capital Change 2021

Dec 8, 2021

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Announcement Summary

Entity name

NORONEX LIMITED

Date of this announcement

Thursday December 09, 2021

The +securities the subject of this notification are:

==> picture [8 x 9] intentionally omitted <==

Other

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	Unquoted options	2,500,000	09/12/2021
to be confirmed
New class - code	Unquoted options	2,000,000	09/12/2021
to be confirmed

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

1 / 8

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Part 1 - Entity and announcement details

1.1 Name of entity

NORONEX LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number

83609594005

1.3 ASX issuer code

NRX

1.4 The announcement is

==> picture [8 x 8] intentionally omitted <==

New announcement

1.5 Date of this announcement

9/12/2021

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

2 / 8

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

==> picture [8 x 8] intentionally omitted <==

Other

Please specify

Issue of options the proposed issue of which was announced on 13 May 2021 and 21 September 2021

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

==> picture [8 x 9] intentionally omitted <==

does not have an existing ASX security code ("new class")

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

3 / 8

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

New +securities ASX +security code +Security description New class - code to be confirmed Unquoted options +Security type ISIN code Options Date the +securities the subject of this notification were issued 9/12/2021 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02440889-6A1058075?access_token=8 3ff96335c2d45a094df02a206a39ff4

Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.20000000 9/12/2023 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option NRXAB : ORDINARY FULLY PAID RESTRICTED

Any other information the entity wishes to provide about the +securities the subject of this notification

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

The proposed issue of 2,500,000 options was previously announced to the market in an Appendix 3B dated 21 September 2021.

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

4 / 8

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Issue details

Number of +securities

2,500,000

Were the +securities issued for a cash consideration?

Yes In what currency was the cash consideration being What was the issue price per +security? paid? AUD - Australian Dollar AUD 0.00001000 Purpose of the issue To pay for services rendered

Additional Details Refer to Resolution 12 of the notice of meeting dated 25 October 2021

New +securities ASX +security code +Security description New class - code to be confirmed Unquoted options +Security type ISIN code Options Date the +securities the subject of this notification were issued 9/12/2021

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02440889-6A1058075?access_token=8 3ff96335c2d45a094df02a206a39ff4

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

5 / 8

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Options Details

+Security currency

AUD - Australian Dollar

Exercise price AUD 0.15000000

Expiry date 4/11/2023

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

NRXAB : ORDINARY FULLY PAID RESTRICTED

Any other information the entity wishes to provide about the +securities the subject of this notification

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

The proposed issue of options was announced in the announcement dated 13 May 2021 titled "Appointment of Executive Director". The announcement can be accessed at: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1. 0/file/2924-02374312-6A1032837?access_token=83ff96335c2d45a094df02a206a39ff4

Issue details

Number of +securities

2,000,000

Were the +securities issued for a cash consideration?

==> picture [9 x 9] intentionally omitted <==

No

Please describe the consideration being provided for the +securities

Nil

Purpose of the issue

Other

Additional Details

Performance linked incentives. Refer to Resolution 13 of the notice of meeting dated 25 October 2021

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

6 / 8

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
NRX : ORDINARY FULLY PAID	168,043,117
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
NRXAB : ORDINARY FULLY PAID RESTRICTED	21,443,226
NRXAD : OPTION EXPIRING 29-OCT-2022 RESTRICTED	4,500,000
NRXAE : OPTION EXPIRING 04-NOV-2022 RESTRICTED	6,000,000
NRXAF : OPTION EXPIRING 29-OCT-2023 RESTRICTED	4,500,000
NRXAG : OPTION EXPIRING 04-NOV-2023 RESTRICTED	6,000,000
NRXAH : OPTION EXPIRING 04-NOV-2023 EX $0.15	3,000,000
New class - code to be confirmed : Unquoted options	2,500,000
New class - code to be confirmed : Unquoted options	2,000,000

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

7 / 8

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

17

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

8 / 8