QPM ENERGY LIMITED — Capital/Financing Update 2021

Jun 29, 2021

Announcement Summary

Entity name

QUEENSLAND PACIFIC METALS LIMITED

Announcement Type

New announcement

Date of this announcement

Wednesday June 30, 2021

The +securities to be quoted are:

+Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities being converted

Total number of +securities to be quoted

ASX +securitycode	Security description	Number of +securities tobe quoted	Issue date
QPM	ORDINARY FULLY PAID	18,900,000	30/06/2021

Refer to next page for full details of the announcement

Part 1 - Entity and announcement details

1.1 Name of entity

QUEENSLAND PACIFIC METALS LIMITED

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type ABN

Registration number 62125368658

1.3 ASX issuer code QPM

1.4 The announcement is

New announcement

1.5 Date of this announcement

30/6/2021

Part 2 - Type of Issue

2.1 The +securities to be quoted are:

+Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities being converted

2.2 The +securities to be quoted are:

Additional +securities in a class that is already quoted on ASX ("existing class")

Part 3B - number and type of +securities to be quoted (existing class) where issue has not previously been notified to ASX in an

Appendix 3B

Existing +securities converting into additional +securities in an existing class FROM (Existing Class) ASX +security code and description QPMAD : OPTION EXPIRING 21-MAY-2022 EX $0.03 TO (Existing Class) ASX +security code and description QPM : ORDINARY FULLY PAID Please state the number of options that were exercised or other +convertible securities that were converted The first date the options were exercised or other +convertible securities were converted 30/6/2021 The last date the options were exercised or other +convertible securities were converted 30/6/2021

9,500,000

Is this all of the options or other +convertible securities on issue of that type (ie have all of those options now been exercised or have all of those convertible securities now been converted)? No

The right of the holder of the options or other +convertible securities to receive the +underlying securities is being satisfied by:

An issue of new +securities

The underlying securities being received by the holder are: Intended to be, but are not yet, quoted by ASX

Were the options being exercised or other +convertible securities being converted issued under an +employee incentive scheme? No

Issue date

30/6/2021

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

Issue details

Number of +securities to be quoted9,500,000
Are the +securities being issued for a cash consideration?Yes
In what currency is the cash consideration being paid?	What is the issue price per +security?
AUD - Australian Dollar	AUD 0.03000000
Any other information the entity wishes to provide about the +securities to be quoted

Existing +securities converting into additional +securities in an existing class

FROM (Existing Class) ASX +security code and description QPMAC : OPTION EXPIRING 17-DEC-2022 EX $0.03

TO (Existing Class) ASX +security code and description

QPM : ORDINARY FULLY PAID

Please state the number of optionsthat were exercised or other+convertible securities that were	The first date the options wereexercised or other +convertiblesecurities were converted
converted	30/6/2021
9,400,000

The last date the options were exercised or other +convertible securities were converted 30/6/2021

Is this all of the options or other +convertible securities on issue of that type (ie have all of those options now been exercised or have all of those convertible securities now been converted)? No

The right of the holder of the options or other +convertible securities to receive the +underlying securities is being satisfied by:

An issue of new +securities

The underlying securities being received by the holder are: Intended to be, but are not yet, quoted by ASX

Were the options being exercised or other +convertible securities being converted issued under an +employee incentive scheme? No

Issue date

30/6/2021

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

Issue details

Number of +securities to be quoted9,400,000
Are the +securities being issued for a cash consideration?Yes
In what currency is the cash consideration being paid?	What is the issue price per +security?
AUD - Australian Dollar	AUD 0.03000000
Any other information the entity wishes to provide about the +securities to be quoted

Part 4 - Issued capital following quotation

Following the quotation of the +securities the subject of this application, the issued capital of the 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 one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +securities (total number of each +class of +securities quoted on ASX following the +quotation of the +securities subject of this application)

ASX +security code and description	Total number of+securities on issue
QPM : ORDINARY FULLY PAID	1,201,847,575

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
QPMAD : OPTION EXPIRING 21-MAY-2022 EX $0.03	20,000,000
QPMAE : OPTION EXPIRING 25-SEP-2023 EX $0.03	10,000,000
QPMAC : OPTION EXPIRING 17-DEC-2022 EX $0.03	20,600,000
QPMAF : PERFORMANCE RIGHTS	63,750,000