PTR MINERALS LTD — Capital/Financing Update 2024

Sep 16, 2024

Appendix 3B - Proposed issue of securities

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Announcement Summary

Entity name

PETRATHERM LTD

Announcement Type

New announcement

Date of this announcement

17/9/2024

The Proposed issue is:

An offer of securities under a securities purchase plan A placement or other type of issue

Total number of +securities proposed to be issued for an offer of securities under a securities purchase plan

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
PTR	ORDINARY FULLY PAID	28,571,428

+Record date

16/9/2024

Offer closing date

8/10/2024

+Issue date

15/10/2024

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
PTR	ORDINARY FULLY PAID	45,714,285

Proposed +issue date

23/9/2024

Refer to next page for full details of the announcement

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

PETRATHERM LTD

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

ABN

Registration Number

53008172450

1.3 ASX issuer code

PTR

1.4 The announcement is

New announcement

1.5 Date of this announcement

17/9/2024

1.6 The Proposed issue is:

An offer of +securities under a +securities purchase plan A placement or other type of issue

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Appendix 3B - Proposed issue of securities

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Part 4 - Details of proposed offer under securities purchase plan

Part 4A - Conditions

4A.1 Do any external approvals need to be obtained or other conditions satisfied before the offer of +securities under the +securities purchase plan issue can proceed on an unconditional basis? No

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Appendix 3B - Proposed issue of securities

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Part 4B - 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

PTR : ORDINARY FULLY PAID

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

PTR : ORDINARY FULLY PAID

Maximum total number of those +securities that could be issued if all offers under the +securities purchase plan are accepted 28,571,428

Will the offer be conditional on applications for a minimum number of +securities being received or a minimum amount being raised (i.e. a minimum subscription condition)? No Will the offer be conditional on applications for a maximum number of +securities being received or a maximum amount being raised (i.e. a maximum subscription condition)? No Will individual security holders be required to accept the offer for a minimum number or value of +securities (i.e. a minimum acceptance condition)? Yes

Is the minimum acceptance unit based or dollar based? Dollar based ($)

Please enter the minimum acceptance value

$ 1,000

Will individual security holders be limited to accepting the offer for a maximum number or value of +securities (i.e. a maximum acceptance condition)? Yes

Is the maximum acceptance unit based or dollar based? Dollar based ($)

Please enter the maximum acceptance value

$ 30,000

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Appendix 3B - Proposed issue of securities

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Describe all the applicable parcels available for this offer in number of securities or dollar value
Shareholders may apply for parcels of New Shares in $1,000 increments with a minimum investment
amount of $1,000, up to a maximum investment of $30,000.
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Offer price details
Has the offer price been determined?
Yes
In what currency will the offer What is the offer price per
be made? +security?
AUD - Australian Dollar AUD 0.03500
Oversubscription & Scale back details
Will a scale back be applied if the offer is over-subscribed?
Yes
Describe the scale back arrangements

The Directors reserve the right to either scale back applications or increase the amount to be raised under the SPP at their absolute discretion, subject to compliance with applicable regulatory requirements. Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Part 4C - Timetable

4C.1 Date of announcement of +security purchase plan

17/9/2024 4C.2 +Record date 16/9/2024 4C.3 Date on which offer documents will be made available to investors 24/9/2024 4C.4 Offer open date 24/9/2024 4C.5 Offer closing date 8/10/2024 4C.7 +Issue date and last day for entity to announce results of +security purchase plan offer 15/10/2024

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Appendix 3B - Proposed issue of securities

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Part 4D - Listing Rule requirements

4D.1 Does the offer under the +securities purchase plan meet all of the requirements of listing rule 7.2 exception 5 or do you have a waiver from those requirements? Yes

Part 4E - Fees and expenses

4E.1 Will there be a lead manager or broker to the proposed offer? Yes

4E.1a Who is the lead manager/broker?

Taylor Collison Limited

4E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

• 2.0% of Offer Proceeds (including Placement and SPP)

4E.2 Is the proposed offer to be underwritten?

No

4E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? Yes

4E.3a Will the handling fee or commission be Dollar based or Percentage based? Percentage based (%)

4E.3b Amount of any handling fee or commission payable to brokers who lodge acceptances on behalf of investors

4.000000 %

4E.3c Please provide any other relevant information about the handling fee or commission method

Selling Fee

4.0% of Placement Proceeds and funds allocated to clients of Taylor Collison on Chess in the SPP.

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

Legal fees, ASX fees, and share registry fees associated with the offer.

Part 4F - Further Information

4F.01 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

The proceeds of the placement and SPP will be used to underpin the upcoming drilling operations at Muckanippie, advance Petratherm's Copper Projects, as well as providing for general working capital and costs of the offer.

4F.1 Will the entity be changing its dividend/distribution policy if the proposed offer is successful? No

4F.2 Countries in which the entity has +security holders who will not be eligible to accept the proposed offer

Canada, Germany, Hong Kong, Japan, Malaysia, Singapore, South Africa, Switzerland, Thailand

4F.3 URL on the entity's website where investors can download information about the proposed offer https://www.petratherm.com.au/asx-announcements/

4F.4 Any other information the entity wishes to provide about the proposed offer

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Appendix 3B - Proposed issue of securities

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis? Yes 7A.1a Conditions

Approval/Condition Date for determination +Security holder approval 21/11/2024

Is the date estimated or ** Approval actual? received/condition met? Actual No

Comments

Approval for Director participation in Placement will be sought at the Company's 2024 AGM. Subject to shareholder approval, the Directors will apply for a total of 5,714,285 New Shares.

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

PTR : ORDINARY FULLY PAID

Number of +securities proposed to be issued

45,714,285

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? Yes

In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 0.03500

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

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Appendix 3B - Proposed issue of securities

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Yes

Part 7C - Timetable

7C.1 Proposed +issue date

23/9/2024

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? No

7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?

32,143,955

7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? Yes 7D.1c ( i ) How many +securities are proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A?

7,856,045

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Yes 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

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

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

Taylor Collison Limited

7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker? Management Fee 2.0% of Offer Proceeds (including Placement and SPP) Selling Fee 4.0% of Placement Proceeds and funds allocated to clients of Taylor Collison on Chess in the SPP.

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

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Appendix 3B - Proposed issue of securities

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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.01 The purpose(s) for which the entity is issuing the securities

The proceeds of the placement and SPP will be used to underpin the upcoming drilling operations at Muckanippie, advance Petratherm's Copper Projects, as well as providing for general working capital and costs of the offer.

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

7F.3 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)

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