PERPETUAL RESOURCES LIMITED — Share Issue/Capital Change 2021

Nov 30, 2021

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

PERPETUAL RESOURCES LIMITED

Date of this announcement

Wednesday December 01, 2021

The +securities the subject of this notification are: Other

Total number of +securities to be issued/transferred

Total number of ASX +security +securities to be code Security description issued/transferred Issue date New class - code PERFORMANCE SHARES 12,000,000 01/12/2021 to be confirmed

Refer to next page for full details of the announcement

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

PERPETUAL RESOURCES 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

82154516533

1.3 ASX issuer code

PEC

1.4 The announcement is

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New announcement

1.5 Date of this announcement

1/12/2021

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

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Other

Please specify

ISSUE OF PERFORMANCE SHARES TO DIRECTORS

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

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

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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

New +securities ASX +security code +Security description New class - code to be confirmed PERFORMANCE SHARES +Security type ISIN code Other Date the +securities the subject of this notification were issued 1/12/2021 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

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

THE TERMS AND CONDITIONS OF THE PERFORMANCE SHARES WAS INCLUDED IN THE NOM RELEASED ON 29 OCTOBER 2021 WHICH WAS APPROVED BY SHAREHOLDERS ON 29 NOVEMBER 2021.

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

N/A

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Issue details

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Number of +securities

12,000,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

THE ISSUE OF PERFORMANCE SHARES TO DIRECTORS APPROVED BY SHAREHOLDERS AT THE ANNUAL GENERAL MEETING ON 29 NOVEMBER 2021

Purpose of the issue

Other

Additional Details

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the 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 one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
PEC : ORDINARY FULLY PAID	492,150,631
4.2 Unquoted +Securities (Total number of each +class of +securities issued but	not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
PECAD : OPTION EXPIRING 31-OCT-2024 EX $0.045	5,000,000
PECAL : OPTION EXPIRING 22-FEB-2023 EX $0.13	5,000,000
PECAB : PERFORMANCE SHARES	15,400,000
PECAM : OPTION EXPIRING 30-JUL-2023 EX $0.16	10,000,000
New class - code to be confirmed : PERFORMANCE SHARES	12,000,000

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

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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? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

29/11/2021

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