Prairie Mining Ltd. — Capital/Financing Update 2020

Aug 27, 2020

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NEWS RELEASE | 28 August 2020

SHARE PURCHASE PLAN – FURTHER EXTENSION TO CLOSING DATE

Prairie Mining Limited ( Prairie or Company ) advises that it will extend the Closing Date for all Eligible Shareholders to participate in the Company’s Share Purchase Plan ( SPP ) to 5:00pm (CET) on 14 September 2020.

The Company understands that some state-controlled brokers in Poland are not allowing their clients to participate in the SPP due to Prairie’s dispute with the Republic of Poland. Extending the Closing Date will allow Polish shareholders additional time to participate in the SPP.

The Company recommends that Polish shareholders who have been unable to but wish to participate in the SPP, should contact Prosper Capital Dom Maklerski S.A. on +48 (22) 201 11 30 or biuro@pcdm.pl. An updated SPP timetable has been provided over page.

ARBITRATION CLAIMS

On 1 July 2020, Prairie announced it had executed a Litigation Funding Agreement ( LFA ) for A$18m (US$12.3m) with LCM Funding UK Limited (a subsidiary of Litigation Capital Management Limited). The facility is available for immediate draw down for Prairie to pursue damages claims in relation to the investment dispute between Prairie and the Polish Government that has arisen out of certain measures taken by Poland in breach of the Energy Charter Treaty and the Australia–Poland Bilateral Investment Treaty ( Treaties ).

Prairie and its legal counsel are currently preparing for arbitration claims which will be submitted in the coming days. The claim will allege that the Republic of Poland has breached its obligations under both domestic law and Treaties. Prairie’s claim for damages may include, but is not limited to, lost profits for both the Jan Karski and Debiensko mines as well as the value of Prairie’s historic expenditure in developing both mines plus interest and costs.

For further information, please contact:

Prairie Mining Limited Tel: +44 207 478 3900 Ben Stoikovich, Chief Executive Officer Email: info@pdz.com.au Sapan Ghai, Head of Corporate Development Kazimierz Chojna, Commercial Officer

This announcement has been authorised for release by the Company Secretary.

Prairie Mining Limited | LSE / ASX / GPW: PDZ | ABN: 23 008 677 852 | www.pdz.com.au LONDON Unit 3C, 38 Jermyn Street | London | SWY1 6DN | T: +44 207 478 3900 PERTH Level 9, 28 The Esplanade, Perth WA 6000 | T: +61 8 9322 6322 | F: +61 8 9322 6558 WARSAW Wiejska 17/11 | Warsaw | 00-480

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Updated SPP Timetable

Details	Date
Record Date	5:00pm (Perth time) on 20 July 2020
The date on which the Company determines Eligible
Shareholders
Dispatch Date	23 July 2020
The date on which this document and the Application
Forms are dispatched to Eligible Shareholders
Opening Date	23 July 2020
The date on which the Offer opens
_Revised_Closing Date	5:00pm (CET) on 14 September 2020
The date on which the Offer closes
Applications and payments must be received by this date
_Revised_Announcement of SPP results	17 September 2020
_Revised_Issue Date	23 September 2020
The date New Shares are intended to be issued
_Revised_Quotation of New Shares on ASX	25 September 2020
With an application for the shares to trade on the London and
Warsaw Stock exchanges occurring as soon as possible following
quotation on ASX.

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