Nova Minerals Ltd — Capital/Financing Update 2025

Dec 22, 2025

ASX Announcement

23 December 2025

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Nova Announces Closing of US$20m NASDAQ Offering

Nova Minerals Limited (Nova or the Company ) ( ASX: NVA, NASDAQ: NVA, NVAWW OTC: NVAAF, FSE: QM3 ) a gold and critical minerals exploration stage company focused on advancing the Estelle Gold and Critical Minerals Project in Alaska, U.S.A., today announced the closing of an underwritten public offering of 2,928,300 American Depositary Shares (“ ADS "), with an ADS-toordinary-share ratio of 1 to 12, at a price to the public of $6.83 per ADS, for gross proceeds of approximately $20,000,000, before deducting underwriting discounts and offering expenses. In addition, Nova has granted the underwriters a 45-day option to purchase up to an additional 439,245 ADSs to cover over-allotments (“ Over Allotment ADS ”), if any.

The Company intends to use the proceeds for planned exploration and development activities on its Estelle Project, including additional drilling and exploration, feasibility and environmental studies, camp expansion, permits and approvals, initial development activities, and for general corporate purposes and working capital.

The shares are to be issued using the Company’s available placement capacity under LR7.1 An Appendix 2A will be released to the ASX simultaneously with this release.

The 35,139,600 ordinary shares, which are represented by the 2,928,300 ADS, will be issued using the Company’s existing placement capacity pursuant to ASX Listing Rules 7.1. The Over Allotment ADSs, if any, will be issued using the existing placement capacity pursuant to ASX Listing Rules 7.1.

ThinkEquity is acting as sole book-running manager for the offering.

The securities were offered and sold pursuant to a prospectus supplement to the Company’s shelf registration statement on Form F-3 (File No. 333-292084), including a base prospectus, led with the U.S. Securities and Exchange Commission (the “SEC”) on December 11, 2025 and declared effective on December 17, 2025. The offering was made only by means of a written prospectus. Anal prospectus supplement and accompanying prospectus related to the offering will be led with the SEC and made available on the SEC’s website. Copies of thenal prospectus supplement and the accompanying prospectus relating to the offering may also be obtained, when available, from the ofces of ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004. Thenal prospectus will be `led with the SEC and will be available on the SEC’s website located at http://www.sec.gov.

The 35,139,600 ordinary shares, which are represented by the 2,928,300 ADS, will be issued using the Company’s existing placement capacity pursuant to ASX Listing Rules 7.1. The Over Allotment ADSs will be issued using the existing placement capacity pursuant to ASX Listing Rules 7.1.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or quali`cation under the securities laws of any such state or jurisdiction.

This announcement has been authorized for release by the Executive Directors.

Main Operations Whiskey Bravo Airstrip Matanuska-Susitna Borough, Alaska, USA 1150 S Colony Way Suite 3-440, Palmer, AK 99645

Corporate www.novaminerals.com.au Suite 5, 242 Hawthorn Road, info@novaminerals.com.au CaulJeld, VICTORIA 3161, Australia ACN 006 690 348 Phone +61 3 9537 1238 NASDAQ: NVA NVA | ASX: NVANVA ASX: NVANVA

NASDAQ: NVA NVA | ASX: NVANVA

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For further information regarding Nova Minerals Limited please visit the Company’s website www.novaminerals.com.au

Christopher Gerteisen Annalise Batchelor Cameron Gilenko CEO and Executive Director Investor Relations and Media Investor Relations and Media E: info@novaminerals.com.au E: annalise.batchelor@sodali.com E: cameron.gilenko@sodali.com M: +61 432 312 807 M: +61 466 984 953

About Nova Minerals Limited

Nova Minerals Limited is a Gold, Antimony and Critical Minerals exploration and development company focused on advancing the Estelle Project, comprised of 514 km2 of State of Alaska mining claims, which contains multiple mining complexes across a 35 km long mineralized corridor of over 20 advanced Gold and Antimony prospects, including two already dened multi-million ounce resources, and several drill ready Antimony prospects with massive outcropping stibnite vein systems observed at surface. The 85% owned project is located 150 km northwest of Anchorage, Alaska, USA, in the prolic Tintina Gold Belt, a province which hosts a >220 million ounce (Moz) documented gold endowment and some of the world's largest gold mines and discoveries including, Kinross Gold Corporation's Fort Knox Gold Mine. The belt also hosts signi`cant Antimony deposits and was a historical North American Antimony producer

Forward Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identied by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Nova Minerals Limited’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difcult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the nal prospectus related to the public offeringled with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Nova Minerals Limited undertakes no duty to update such information except as required under applicable law.

Nova Minerals Limited | ASX Announcement

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