Steppe Gold Ltd. — AGM Information 2023

May 20, 2023

STEPPE GOLD LTD.

NOTICE OF ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS

NOTICE IS HEREBY GIVEN that the annual general and special meeting (the “ Meeting ”) of shareholders of Steppe Gold Ltd. (“ Steppe ” or the “ Corporation ”) will be held at the Shangri-La Hotel, 19 Olympic Street, Sukhbaatar District-1, Ulaanbaatar 14241 Mongolia on Friday, the 30[th] day of June, 2023 at the hour of 10:00 a.m. (ULAT), for the following purposes:

1. to receive the audited consolidated financial statements of the Corporation for the year ended December 31, 2022 (with comparative statements relating to the preceding fiscal period) together with the report of the auditors thereon;

2. to fix the number of directors at eight (8);

3. to elect directors;

4. to appoint Kingston Ross Pasnak LLP as the auditors of Steppe for the ensuing year and to authorize the directors to fix their remuneration;

5. to consider and, if deemed advisable, to approve, with or without variation, a special resolution to authorize the board of directors of the Corporation to set the number of directors from time to time within the minimum and maximum number of directors set forth in the articles of the Corporation, in accordance with Section 125(3) of the Business Corporations Act (Ontario), as more particularly described in the accompanying management information circular (the “ Circular ”); and

6. to transact such further or other business as may properly come before the Meeting or any adjournment or adjournments thereof.

Accompanying this notice (the “ Notice ”) is the Circular, a form of proxy and a request form to receive the annual and interim financial statements and management discussion and analysis. The accompanying Circular provides information relating to the matters to be addressed at the meeting and is incorporated into this Notice.

To enable greater shareholder attendance, rather than attending in person, the Corporation encourages Shareholders to access the Meeting via telephone conference call at (844) 511 2074 (Toll-Free Canada), 1 (234) 2032 767 (USA), +61 (2)6145 2180 (Australia), 86 1057 897465 (China) Conference Participant Access 053-515-325. Shareholders attending the Meeting by telephone conference will be able to listen to the meeting but will not be able to vote at the Meeting.

Shareholders are entitled to vote at the Meeting either in person or by proxy in accordance with the procedures described in the Circular accompanying this Notice. Those who are unable to attend the meeting are requested to read, complete, sign and mail the enclosed form of proxy in accordance with the instructions set out in the proxy and in the Circular accompanying this Notice.

DATED at Toronto, Ontario, this 11[th] day of May, 2023.

BY ORDER OF THE BOARD OF DIRECTORS

( signed ) “Matthew Wood”

Matthew Wood Executive Chairman

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