PEPPERMINT INNOVATION LIMITED — Capital/Financing Update 2021

Nov 22, 2021

Proposed issue of securities

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Update Summary

Entity name

PEPPERMINT INNOVATION LIMITED

Announcement Type

Update to previous announcement

Date of this announcement

23/11/2021

Reason for update to a previous announcement

We increased our capital raising and therefore the future entitlement to the 1 for 10 bonus options. Please also note the 2 cps bonus options will now expire on 22 December 2021 and will not be listed but that we will be attaching options to the shares created by the exercise of the bonus options and those attaching options will be listed.

Refer to next page for full details of the announcement

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Proposed issue of securities

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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

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Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

We increased our capital raising and therefore the future entitlement to the 1 for 10 bonus options. Please also note the 2 cps bonus options will now expire on 22 December 2021 and will not be listed but that we will be attaching options to the shares created by the exercise of the bonus options and those attaching options will be listed.

1.4b Date of previous announcement to this update

11/11/2021

1.5 Date of this announcement

23/11/2021

1.6 The Proposed issue is:

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A +bonus issue

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Proposed issue of securities

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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)

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Proposed issue of securities

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The quantity of additional +securities	For a given quantity of +securities
to be issued	held
1	10
What will be done with fractional	Maximum number of +securities
entitlements?	proposed to be issued (subject to
	rounding)
Fractions rounded up to the next	194,471,251
whole number
Reason for the update of 'Maximum number of +securities proposed to be issued'

We increased our capital raising and therefore the entitlement to the 1 for 10 bonus options. Please also note the 2 cps options will now expire on 22 December 2021 and will not be listed but that we will be attaching options to the shares created by the exercise of the bonus options and those attaching options will be listed.

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Options details
+Security currencyExercise price	Expiry date
AUD - Australian DollarAUD 0.0200	17/12/2021
Details of the type of +security that will be issued if the option is exercised
PIL : ORDINARY FULLY PAID
Number of securities that will be issued if the option is exercised
One fully paid ordinary share
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 separate announcement.
They will be the subject of a Prospectus

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)?

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Part 2C - Timetable

2C.1 +Record date

1/12/2021

2C.3 Ex date

30/11/2021

2C.4 Record date

1/12/2021

2C.5 +Issue date

3/12/2021

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

6/12/2021

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

8/12/2021

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?

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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

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