PEEL MINING LIMITED — Share Issue/Capital Change 2021

Nov 28, 2021

Announcement Summary

Entity name

PEEL MINING LIMITED

Date of this announcement

Monday November 29, 2021

The +securities the subject of this notification are:

+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Total number of +securities to be issued/transferred

ASX +securitycode	Security description	Total number of+securities to beissued/transferred	Issue date
New class - codeto be confirmed	Performance Rights (2021)	1,600,000	29/11/2021

Refer to next page for full details of the announcement

Part 1 - Entity and announcement details

1.1 Name of entity

PEEL MINING 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 42119343734

1.3 ASX issuer code PEX

1.4 The announcement is

New announcement

1.5 Date of this announcement

29/11/2021

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

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

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

Equity Securities

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

ASX +security code		+Security description
New class - code to be confirmed		Performance Rights (2021)
+Security type	ISIN code
Other
	Date the +securities the subject of this notification were issued
29/11/2021
Yes	Will all the +securities issued in this class rank equally in all respects from their issue date?
Yes	Were any of the +securities issued to +key management personnel (KMP) or an +associate?
	Provide details of the KMP or +associates being issued +securities.
Name of KMP	Name of registered holder	Number of +securities
Robert Tyson	Bianca Pope	800,000
James Simpson	Keronga Developments Pty Ltd	500,000

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/2924-02443229-6A1059157?access\_token=8 3ff96335c2d45a094df02a206a39ff4

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02443229-6A1059157?access\_token=8 3ff96335c2d45a094df02a206a39ff4

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

The issue of 1,300,000 Performance Rights to directors was approved by shareholders at the Company's 2021 Annual General Meeting held on the 29th November 2021 (Exception 14 to Listing Rule 7.2). The remaining 300,00 were issued under Exception 13 to Listing Rule 7.2.

Equity Securities

Issue details

Number of +securities

1,600,000

Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities ofthe 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 oneapplication for quotation/issuance currently with ASX for processing.)
4.1 Quoted +Securities (Total number of each +class of +securities quoted)
ASX +security code and description	Total number of+securities on issue
PEX : ORDINARY FULLY PAID	418,097,757
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)
ASX +security code and description	Total number of+securities on issue
PEXAA : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES	9,612,500

PEXAQ : PERFORMANCE RIGHTS 3,100,000

New class - code to be confirmed : Performance Rights (2021) 1,600,000

Equity Securities

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

13