PEPPERMINT INNOVATION LIMITED — Capital/Financing Update 2021

Nov 28, 2021

Proposed issue of securities

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

Update Summary

Entity name

PEPPERMINT INNOVATION LIMITED

Announcement Type

Update to previous announcement

Date of this announcement

29/11/2021

Reason for update to a previous announcement

Adjustment of bonus option issue timetable and to bonus issue number to accord with share registry (noting again that bonus options are to expire on 22 Decmber2021 and are not to be quoted).

Refer to next page for full details of the announcement

Proposed issue of securities

1 / 5

Proposed issue of securities

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

Part 1 - Entity and announcement details

1.1 Name of +Entity

PEPPERMINT INNOVATION LIMITED

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 Registration Number ACN 125931964

1.3 ASX issuer code

PIL

1.4 The announcement is

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

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Adjustment of bonus option issue timetable and to bonus issue number to accord with share registry (noting again that bonus options are to expire on 22 Decmber2021 and are not to be quoted).

1.4b Date of previous announcement to this update

25/11/2021

1.5 Date of this announcement

29/11/2021

1.6 The Proposed issue is:

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

A +bonus issue

Proposed issue of securities

2 / 5

Proposed issue of securities

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

Part 2 - Details of proposed bonus issue

Part 2A - Conditions

2A.1 Do any external approvals need to be obtained or other conditions satisfied before the +bonus issue can proceed on an unconditional basis? No

Part 2B - Issue details

Class or classes of +securities that will participate in the proposed issue and class or classes of +securities proposed to be issued

ASX +security code and description PIL : ORDINARY FULLY PAID Is the proposed security a 'New Will the proposed issue of this If the entity has quoted company class' (+securities in a class that is +security include an offer of options, do the terms entitle option not yet quoted or recorded by ASX) attaching +securities? holders to participate on exercise? or an 'Existing class' (additional Yes 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 are non CDIs)

Have you received confirmation fromASX that the terms of the proposed+securities are appropriate andequitable under listing rule 6.1?Will the entity be seeking quotationof the 'new' class of +securities onASX?ASX +security codeNew class-code to be confirmed+Security descriptionOptions exercisable at 2 cps expiring on 17 December 2021YesNo	Have you received confirmation fromASX that the terms of the proposed+securities are appropriate andequitable under listing rule 6.1?Will the entity be seeking quotationof the 'new' class of +securities onASX?ASX +security codeNew class-code to be confirmed+Security descriptionOptions exercisable at 2 cps expiring on 17 December 2021YesNo
New class-code to be confirmed	Options exercisable at 2 cps expiring on 17 December 2021

+Security type

Options

Issue ratio (ratio to existing holdings at which the proposed +securities will be issued)

Proposed issue of securities

3 / 5

Proposed issue of securities

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

The quantity of additional +securitiesto be issued1For a given quantity of +securitiesheld10What will be done with fractionalentitlements?Fractions rounded up to the nextwhole numberMaximum number of +securitiesproposed to be issued (subject torounding)196,471,828Reason for the update of 'Maximum number of +securities proposed to be issued'To match the ASX record with the Share RegistryWill all the +securities issued in this class rank equally in all respects fromtheir issue date?Options detailsYes	The quantity of additional +securitiesto be issued1For a given quantity of +securitiesheld10What will be done with fractionalentitlements?Fractions rounded up to the nextwhole numberMaximum number of +securitiesproposed to be issued (subject torounding)196,471,828Reason for the update of 'Maximum number of +securities proposed to be issued'To match the ASX record with the Share RegistryWill all the +securities issued in this class rank equally in all respects fromtheir issue date?Options detailsYes	The quantity of additional +securitiesto be issued1For a given quantity of +securitiesheld10What will be done with fractionalentitlements?Fractions rounded up to the nextwhole numberMaximum number of +securitiesproposed to be issued (subject torounding)196,471,828Reason for the update of 'Maximum number of +securities proposed to be issued'To match the ASX record with the Share RegistryWill all the +securities issued in this class rank equally in all respects fromtheir issue date?Options detailsYes	The quantity of additional +securitiesto be issued1For a given quantity of +securitiesheld10What will be done with fractionalentitlements?Fractions rounded up to the nextwhole numberMaximum number of +securitiesproposed to be issued (subject torounding)196,471,828Reason for the update of 'Maximum number of +securities proposed to be issued'To match the ASX record with the Share RegistryWill all the +securities issued in this class rank equally in all respects fromtheir issue date?Options detailsYes	The quantity of additional +securitiesto be issued1For a given quantity of +securitiesheld10What will be done with fractionalentitlements?Fractions rounded up to the nextwhole numberMaximum number of +securitiesproposed to be issued (subject torounding)196,471,828Reason for the update of 'Maximum number of +securities proposed to be issued'To match the ASX record with the Share RegistryWill all the +securities issued in this class rank equally in all respects fromtheir issue date?Options detailsYes
	What will be done with fractionalentitlements?Maximum numbproposed to be		er of +securitiesissued (subject to
	Fi dd hrounding)196471828
	ractons roune up to te nextwhole number,,
	Reason for the update of 'Maximum number of +securi		ties proposed to be issued'
	To match the ASX record with the Share Registry
		To match the ASX record with the Share Registry
	Will ll th iti id i thi l k ll		i ll t f
	a e +secures ssue n s cass ran equaytheir issue date?		n a respecs rom
	Yes
	ons details
	+Security currencyAUD - Australian DollarExercise priceAUD 0.0200		Expiry date17/12/2021
	Details of the type of +security that will be issued if thePIL : ORDINARY FULLY PAID		option is exercised
	Number of securities that will be issued if the option isOne full aid ordinar share		exercised
		One full aid ordinar share
	y p y	y p y
	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 seThe will be the subject of a Prosectus		parate announcement.
		The will be the subject of a Prosectus
		y p
	ching +Security
	Is the proposed attaching security a 'New class' (+secuor an 'Existing class' (additional +securities in a class t		rities in a class that is not yet quoted or recorded by AShat is already quoted or recorded by ASX)?
	2C - Timetable
	2C.1 +Record date
	3/12/2021

Attaching +Security

Is the proposed attaching 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)?

Part 2C - Timetable

2C.1 +Record date

3/12/2021

Proposed issue of securities

4 / 5

Proposed issue of securities

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

2C.3 Ex date

2/12/2021

2C.4 Record date

3/12/2021

2C.5 +Issue date

6/12/2021

2C.6 Date trading starts on a normal T+2 basis

7/12/2021

2C.7 First settlement of trades conducted on a +deferred settlement basis and on a normal T+2 basis

9/12/2021

Part 2D - Further Information

2D.1 Will holdings on different registers or subregisters be aggregated for the purposes of determining entitlements to the +bonus issue?

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

No

2D.2 Countries in which the entity has +security holders who will not be eligible to participate in the proposed +bonus issue

2D.3 Will the entity be changing its dividend/distribution policy as a result of the proposed +bonus issue No

2D.4 Details of any material fees or costs to be incurred by the entity in connection with the proposed +bonus issue

2D.5 Any other information the entity wishes to provide about the proposed +bonus issue

Proposed issue of securities

5 / 5