PREDICTIVE DISCOVERY LIMITED — Capital/Financing Update 2020

May 4, 2020

Proposed issue of securities

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

Announcement Summary

Entity name

PREDICTIVE DISCOVERY LIMITED

Announcement Type

New announcement

Date of this announcement

Tuesday May 5, 2020

The Proposed issue is:

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

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

A standard pro rata issue (including non-renounceable or renounceable) A placement or other type of issue

Total number of +securities proposed to be issued for a standard pro rata issue (including non-renounceable or renounceable)

ASX +Security Code

+Security Description

Maximum Number of +securities to be issued

PDI ORDINARY FULLY PAID

42,219,338

Ex date

Wednesday May 13, 2020

+Record date

Thursday May 14, 2020

Offer closing date

Tuesday June 9, 2020

Issue date

Tuesday June 16, 2020

Total number of +securities proposed to be issued for a placement or other type of issue

Maximum Number of ASX +Security Code +Security Description +securities to be issued PDI ORDINARY FULLY PAID 138,000,000

Proposed +issue date

Tuesday June 16, 2020

Proposed issue of securities

1 / 10

Proposed issue of securities

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

Refer to next page for full details of the announcement

Proposed issue of securities

2 / 10

Proposed issue of securities

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

Part 1 - Entity and announcement details

1.1 Name of +Entity

PREDICTIVE DISCOVERY 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.

1.2 Registered Number Type

Registration Number

ACN 127171877

1.3 ASX issuer code

PDI

1.4 The announcement is

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

New announcement

1.5 Date of this announcement

Tuesday May 5, 2020

1.6 The Proposed issue is:

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

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

A standard +pro rata issue (non-renounceable or renounceable) A placement or other type of issue

1.6a The proposed standard +pro rata issue is:

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

• Non-renounceable

Proposed issue of securities

3 / 10

Proposed issue of securities

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

Part 3 - Details of proposed entitlement offer issue

Part 3A - Conditions

3A.1 - Are any of the following approvals required for the entitlement offer to be unconditional? +Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity

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

No

Part 3B - Offer 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

PDI : ORDINARY FULLY PAID

Is the proposed 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)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? No

If the entity has quoted company options, do the terms entitle option holders to participate on exercise? Yes

Details of +securities proposed to be issued

ASX +Security Code and Description

PDI : ORDINARY FULLY PAID

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

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

The quantity of additional +securities For a given quantity of +securities to be issued held 1 15

Proposed issue of securities

4 / 10

Proposed issue of securities

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

What will be done with fractional Maximum Number of +securities entitlements? proposed to be issued Fractions rounded up to the next 42,219,338 whole number

Purpose of the issue

Exploration programmes on NE Bankan and Kaninko projects. Further details see announcement 5 May 2020

Offer price details for retail security holders

Issue Currency Offer Price per +security Estimated or Actual? Actual AUD - Australian Dollar AUD 0.05000

Oversubscription & Scale back details

Are +security holders allowed to oversubscribe? Yes

Provide the oversubscription details

To be detailed in prospectus to be lodged 11 May 2020

May a scale back be applied to this event? Yes

Provide the scale back details

To be detailed in prospectus to be lodged 11 May 2020

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Details of company options where holders entitled to participate in the offer

ASX +Security Code and Description

PDIOA : OPTION EXPIRING 24-DEC-2022

Date Option must be exercised by

Thursday May 14, 2020

Part 3C - Timetable

3C.1 +Record date

Thursday May 14, 2020

Proposed issue of securities

5 / 10

Proposed issue of securities

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

3C.2 Ex date

Wednesday May 13, 2020

3C.4 Record date

Thursday May 14, 2020

3C.5 Date on which offer documents will be sent to +security holders entitled to participate in the +pro rata issue

Tuesday May 19, 2020

3C.6 Offer closing date

Tuesday June 9, 2020

3C.7 Last day to extend the offer closing date

Wednesday June 3, 2020

3C.9 Trading in new +securities commences on a deferred settlement basis Wednesday June 10, 2020

3C.10 Last day for entity to announce the results of the offer to ASX, including the number and percentage of +securities taken up by existing +security holders and any shortfall taken up by underwriters or other investors

Friday June 12, 2020

3C.11 Issue date

Tuesday June 16, 2020

3C.12 Date trading starts on a normal T+2 basis

Wednesday June 17, 2020

3C.13 First settlement date of trades conducted on a +deferred settlement basis and on a normal T+2 basis

Friday June 19, 2020

Part 3E - Fees and expenses

3E.1 Will there be a lead manager or broker to the proposed offer? No

3E.2 Is the proposed offer to be underwritten? No

Proposed issue of securities

6 / 10

Proposed issue of securities

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

3E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No 3E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer Part 3F - Further Information 3F.1 The purposes for which the entity intends to use the cash raised by the proposed issue Exploration programmes at NE Bankan and Kaniko projects - see announcement dated 5 May 2020 3F.2 Will holdings on different registers or subregisters be aggregated for the purposes of determining entitlements to the issue? No 3F.3 Will the entity be changing its dividend/distribution policy if the proposed issue is successful? No 3F.4 Countries in which the entity has security holders who will not be eligible to participate in the proposed issue All countries other than Australia, New Zealand, Hong Kong, Mauritius and Singapore 3F.5 Will the offer be made to eligible beneficiaries on whose behalf eligible nominees or custodians hold existing +securities No 3F.6 URL on the entity's website where investors can download information about the proposed issue 3F.7 Any other information the entity wishes to provide about the proposed issue Prospectus to be lodged on Monday, 11 May 2020

Proposed issue of securities

7 / 10

Proposed issue of securities

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

Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 - Are any of the following approvals required for the placement or other type of issue? +Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity Yes

7A.1a Conditions

Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? +Security holder approval Wednesday June 10, 2020 Estimated

Comments

Part 7B - Issue details

Is the proposed 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)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +Security Code and Description

PDI : ORDINARY FULLY PAID

Maximum Number of +securities proposed to be issued

138,000,000

Purpose of the issue

See announcement dated 5 May 2020

Proposed issue of securities

8 / 10

Proposed issue of securities

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

Offer price details for retail security holders

In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 0.05000

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Oversubscription & Scale back details

May a scale back be applied to this event? No

Part 7C - Timetable

7C.1 Proposed +issue date

Tuesday June 16, 2020

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 Wednesday June 10, 2020

7D.2 Is a party referred to in listing rule 10.11.1 participating in the proposed issue? No

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

Proposed issue of securities

9 / 10

Proposed issue of securities

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

7E.1 Will there be a lead manager or broker to the proposed issue? Yes

7E.1a Who is the lead manager/broker?

Hartleys Limited (Lead) and Euroz Securities Limited (Co-Lead)

7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

6% on Placement, 2% on Rights Issue

7E.2 Is the proposed issue to be underwritten? No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

Part 7F - Further Information

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

Proposed issue of securities

10 / 10