PROSPECT RESOURCES LIMITED — Capital/Financing Update 2013

Oct 15, 2013

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Suite 6, 245 Churchill Ave. Subiaco WA 6008 Phone: +61 8 9217 3300 | Fax: +61 8 9388 3006

16 October 2013

The Manager Company Announcements Australian Securities Exchange Level 5, 20 Bridge Street SYDNEY NSW 2000

By E-Lodgement

Dear Sirs

ASX Code: PSC

Cleansing notice under section 708A of the Corporations Act 2001 (Cth)

The Board of Prospect Resources Limited is pleased to advise that it has now completed placement of 60,000,000 fully paid ordinary shares of the Company as follows:

• 58,861,682 shares to intended recipients pursuant to Resolutions 5, 9 and 10 of the Notice of Meeting dated 22 August 2013, which was passed on a show of hands at the 2013 Extraordinary General Meeting held at 11am on 23 September 2013; and

• 1,138,318 shares under Listing Rule 7.1.

(collectively known as the Placement ).

The Company gives this Notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ) and states the following:

1. The Placement shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act.

2. As at the date of this Notice, the Company has complied with:

   • a. the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

   • b. section 674 of the Corporations Act.

3. As at the date of this Notice, there is no excluded information for the purposes of sections 708A(7) and 708A(8) of the Corporations Act.

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Suite 6, 245 Churchill Ave. Subiaco WA 6008 Phone: +61 8 9217 3300 | Fax: +61 8 9388 3006

For more information, please contact the undersigned on (+61 2) 8072 1400.

Yours faithfully

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Andrew Whitten Company Secretary