QMINES LIMITED — Share Issue/Capital Change 2021

Dec 23, 2021

Announcement Summary

Entity name

QMINES LIMITED

Date of this announcement

Friday December 24, 2021

The +securities the subject of this notification are:

+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Total number of +securities to be issued/transferred

ASX +securitycode	Security description	Total number of+securities to beissued/transferred	Issue date
QMLAG	PERFORMANCE RIGHTS	5,750,000	22/12/2021

Refer to next page for full details of the announcement

Part 1 - Entity and announcement details

1.1 Name of entity

QMINES 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 72643212104

1.3 ASX issuer code QML

1.4 The announcement is New announcement

1.5 Date of this announcement

24/12/2021

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

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

has an existing ASX security code ("existing class")

Part 3B - number and type of +securities the subject of this notification (existing class) where issue has not previously been notified to

ASX in an Appendix 3B

ASX +security code and description

QMLAG : PERFORMANCE RIGHTS

Date the +securities the subject of this notification were issued

22/12/2021

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

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Andrew Sparke	Turkey Investments Pty Ltd	3,500,000
Elissa Hansen	Beth Capital Pty Ltd	2,000,000
Peter Caristo	Peter Caristo	250,000

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

https://www.asx.com.au/asxpdf/20210504/pdf/44w5xg5l3sjb4j.pdf

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

Issue details

Number of +securities

5,750,000

Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities ofthe 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 oneapplication for quotation/issuance currently with ASX for processing.)
4.1 Quoted +Securities (Total number of each +class of +securities quoted)
ASX +security code and description	Total number of+securities on issue
QML : ORDINARY FULLY PAID	54,328,304
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)
ASX +security code and description	Total number of+securities on issue
QMLAC : ORDINARY FULLY PAID RESTRICTED	33,333
QMLAD : ORDINARY FULLY PAID RESTRICTED	9,860,042

QMLAE : ORDINARY FULLY PAID RESTRICTED	47,151,069

• QMLAF : OPTION EXPIRING 06-MAY-2024 RESTRICTED 4,200,000
• QMLAG : PERFORMANCE RIGHTS 10,550,000

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 23/11/2021