PEAKO LIMITED — Capital/Financing Update 2022

May 24, 2022

==> picture [595 x 50] intentionally omitted <==

25 May 2022

Dear Option Holder

NOTIFICATION OF EXPIRY OF OPTIONS

At the date of this notice, you are a registered holder of unlisted options (the Options, ASX code: PKOAQ) in Peako Limited (the Company, ASX code: PKO).

You are encouraged to read this letter carefully and in full and if you are unsure about what to do with your Options then you should seek advice from your accountant, stockbroker, lawyer, licensed financial adviser or other professional adviser.

This letter notifies you of the impending expiry of the Options on Thursday, 30 June 2022. It also sets out your alternative courses of action prior to expiry and provides information about recent prices of the PKO shares and the Options.

Your choices as an Option holder are:

• Do nothing and allow your Options to lapse If you do not take any action to exercise your Options prior to 5:00pm (Melbourne time) on Thursday, 30 June 2022, the Options will expire and your right to purchase shares at $0.055 (5.5 cents) will lapse.

• Exercise all or some of your Options

• To exercise your Options, the enclosed Options Expiry Notice and your cleared funds must be received by the Company’s share registry no later than 5:00pm (Melbourne time) on Thursday, 30 June 2022. Note that exercising your options does not incur any brokerage costs.

In accordance with ASX Listing Rules, the Company advises the following:

(a) Attached is your Options Expiry Notice.

(b) Each Option entitles the holder to receive, on exercise, one fully paid ordinary share in the Company. If all Options are exercised, by all holders of the Options, then 88,437,779 fully paid ordinary shares will be issued.

(c) The exercise price of the Options is $0.055 (5.5 cents) per share. If cleared funds are not received by 5:00pm (Melbourne time) on Thursday, 30 June 2022, then your Options will expire with no value and no further entitlement will exist.

(d) The latest available market price of PKO shares prior to the date of this notice was $0.020 (2.0 cents) at the close of trading on 20 May 2022.

(e) The highest and lowest market prices of PKO shares traded in the three months immediately before the date of this notice were:

==> picture [473 x 37] intentionally omitted <==

1

==> picture [596 x 55] intentionally omitted <==

Highest: $0.024 per share on 9 May 2022 Lowest: $0.016 per share on 24 March 2022.

Summary of key dates for Option holders are:

Final date for exercise and payment of Options: 5:00pm (Melbourne time) 30 June 2022

Final date for allotment of new PKO shares: Within 15 business days of expiry date

Further information: If you have any queries about completing the form, please email info@peako.com.au

Yours faithfully

==> picture [95 x 40] intentionally omitted <==

Rob Wright Company Secretary

==> picture [396 x 36] intentionally omitted <==

2

All Registry Communication to:

==> picture [193 x 70] intentionally omitted <==

Peako Limited| ABN 79 131 843 868

PO Box 5193, Sydney NSW 2001 1300 288 664 (within Australia) +61 2 9698 5414 (international) hello@automic.com.au

www.automicgroup.com.au

Full name[s] of Registered Holding

SRN/HIN: Security Code: PKOOPT01 Number of Options Held: Option Expiry Date: 30/06/2022 Exercise Price: $0.055

NOTICE OF EXERCISE OF OPTIONS

I/we hereby exercise the following number of options and make payment in Australian currency for the amount payable. Please allot me/us Ordinary Shares calculated on the basis of one Ordinary Share for every one Option which I/we exercise. I/We agree to accept such Shares subject to the Constitution of Peako Limited.

1. Number of Options to be Exercised Total payment required @ $0.055 per Option exercised , , A$ , , . If the dollar amount paid results in a fraction of a share then the shares allotted will be rounded down.

2. Payment: You can pay either by EFT or cheque

Option A – EFT

Funds to be deposited directly to the following bank account:

Account name: Peako Limited Account BSB : 083-419 Account number: 826858652

IMPORTANT: When making your EFT payment please ensure that you use your registered holding name as your “payment description”. Failure to do so may result in your funds not being allocated to your application and shares subsequently not issued.

Option B – Cheque

• Make your cheque payable to Peako Limited and crossed “Not Negotiable”.

3. Contact details & signature

Telephone Number Contact Name (PLEASE PRINT) ( ) Email Address

SUPPORT YOUR COMPANY: By providing your email address, you elect to receive all communications despatched by the Company electronically (where legally permissible).

Sign here:

Securityholder 1 Securityholder 2 Securityholder 3

Sole Director/Company Secretary Director Director / Company Secretary NOTE: When signed under Power of Attorney, the attorney states that they have not received a notice of revocation. A certified copy of the Power of Attorney must be lodged with this exercise form.

4. Submitting your “Notice of Exercise of Options” form

Please return the completed and signed form together with your cheque payment or copy of your funds transfer receipt:

==> picture [19 x 20] intentionally omitted <==

BY MAIL

BY EMAIL

Peako Limited info@peako.com.au Level 1 10 Yarra Street South Yarra VIC 3141