QPM ENERGY LIMITED — Capital/Financing Update 2021

Mar 25, 2021

Queensland Pacific Metals Limited (ASX:QPM) is focused on developing a modern battery metals refinery in northern Queensland.

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26 March 2021

ASX Limited

Issue of cleansing notice under section 708A(5)(e)(i) of the Corporations Act 2001 (Cth)

Queensland Pacific Metals Limited

Queensland Pacific Metals Limited (ACN 125 368 658) (ASX: QPM) (Company) has today issued 187,500,000 fully paid ordinary shares in the Company (New Shares) to sophisticated and professional investors under an institutional placement to raise $15,000,000.

The Company issued the New Shares without disclosure under section 708A(5) of the Corporations Act 2001 (Cth) (Corporations Act).

Details of the securities issued

Class of securities Ordinary shares ASX code of the securities QPM Proposed Date of issue 26 March 2021

Total number of securities issued 187,500,000 New Shares

Information required under section 708A(6) of the Corporations Act

As required by section 708A(6) of the Corporations Act, the Company advises that:

1. the New Shares were issued without disclosure under part 6D.2 of the Corporations Act;

2. this notice is given under section 708A(5)(e) of the Corporations Act;

3. 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; and

1. as at the date of this notice, there is no 'excluded information' of the type referred to in

sections 708A(7) and 708A(8) of the Corporations Act.

Authorised for release by: The board of directors of the Company

Signed for and on behalf of the Company

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Mauro Piccini Company Secretary Queensland Pacific Metals Limited

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Queensland Pacific Metals Limited (A.C.N: 125 368 658) A: Level 17, 307 Queen St Brisbane QLD 4000 www.qpmetals.com.au