QUANTUM GRAPHITE LIMITED — M&A Activity 2022

Oct 12, 2022

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MARKET RELEASE For Immediate Release 13 October 2022

ASX Market Announcements Office ASX Limited 20 Bridge Street SYDNEY NSW 2000

By electronic lodgement

Dear Sir / Madam

Takeover Offer by Quantum Graphite Limited for Lincoln Minerals Limited Extension of Offer Period

We refer to the off-market takeover bid by Quantum Graphite Limited (ACN 008 101 979) ( Quantum ) for all of the ordinary shares in Lincoln Minerals Limited ( Lincoln ), on the terms set out in in Quantum’s replacement bidder’s statement dated 6 September 2022 ( Offer ).

Quantum has determined to extend the period during which the Offer will remain open for acceptance until 7.00pm (Melbourne time) on 18 November 2022.

We enclose formal notice given by Quantum under sections 650D and 630(2) of the Corporations Act 2001 (Cth) in relation to the extension of the offer period, lodged with the Australian Securities and Investments Commission on 13 October 2022.

Yours faithfully

Rochelle Pattison

Company Secretary

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Off-market takeover offer for Lincoln Minerals Limited

Notice under section 650D of the Corporations Act 2001 (Cth) Variation of offer – extension of offer period

• To: Australian Securities and Investments Commission ( ASIC ) ASX Limited

• Lincoln Minerals Limited (ACN 050 117 023)

• Each Lincoln shareholder and other person referred to in sections 650D(1)(c) and 650D(2) of the Corporations Act 2001 (Cth) (as modified by ASIC Class Order [13/521])

We refer to the off-market takeover bid by Quantum Graphite Limited (ACN 008 101 979) ( Quantum ) for all of the ordinary shares in Lincoln Minerals Limited ( Lincoln ), on the terms set out in in Quantum’s replacement bidder’s statement dated 6 September 2022 ( Replacement Bidder’s Statement ), ( Offer ).

Capitalised terms in this notice have the same meaning as given in the Replacement Bidder’s Statement, unless the context requires otherwise.

Extension of Offer period

Quantum gives notice under section 650D(1) of the Corporations Act that, pursuant to section 650C(1) of the Corporations Act, it varies the Offer by:

• (a) Extending the period during which the Offer will remain open for acceptance until 7.00pm (Melbourne time) on 18 November 2022 , unless withdrawn or further extended; and

• (b) Replacing references to “20 October 2022” with “18 November 2022” in all places in the Replacement Bidder’s Statement and Acceptance Form where “20 October 2022” appears (or is deemed to appear) as the last day of the Offer Period.

Date for giving notice as to the status of conditions under the Offer

As a result of the extension of the Offer period, Quantum gives notice under section 630(2) of the Corporations Act that:

• (a) The new date for giving notice on the status of the conditions of the Offer set out in section 12.9 of the Replacement Bidder’s Statement ( Conditions ) is 11 November 2022; and

• (b) the Offer has not been freed from the Conditions, and so far as Quantum knows, the Conditions have not been fulfilled as at the date of this notice.

Date of lodgement

A copy of this notice was lodged with ASIC on 13 October 2022. Neither ASIC, ASX not any of their respective officers takes any responsibility for the contents of this notice.

Date: 13 October 2022

Signed for and on behalf of Quantum Graphite Limited pursuant to a resolution of the directors:

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Sal Catalano Managing Director

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Bruno Ruggiero Non-Executive Director