TEMPEST MINERALS LIMITED — Capital/Financing Update 2024

Jun 10, 2024

ASX RELEASE

11 June 2024

Dear Shareholder

PRO-RATA NON-RENOUNCEABLE ENTITLEMENTS ISSUE

On 31 May 2024, Tempest Minerals Limited ( TEM or the Company ) announced the details of a prorata non-renounceable rights issue ( Offer ) of up to approximately 103,824,886 fully paid ordinary shares ( New Shares ) on the basis of one New Share for every five shares held at an issue price of $0.008 per share raise up to approximately $830,599. The Offer is not underwritten.

The proposed use of the funds raised under the Offer is to be applied to exploration on the Company’s Western Australian projects, to meet the expenses of the Offer, and for general working capital.

The Offer is being made to all shareholders of the Company ( Shareholders ) named on its register of members at 5.00pm (WST) on 5 June 2024, whose registered address is in Australia or New Zealand. The Offer is not being extended to shareholders of the Company with a registered address outside of Australia and New Zealand ( Ineligible Shareholder ).

New Shares will rank equally with all fully paid ordinary shares in the capital of the Company ( Shares ) already on issue (ASX Code: TEM). Entitlements to New Shares pursuant to the Offer are nonrenounceable and accordingly will not be traded on the ASX.

The Offer Document to the Offer ( Offer Document ) has been lodged with ASX and is available on the ASX website, www.asx.com.au.

You are not eligible to participate in the Offer and you will not be sent a copy of the Offer Document. This decision has been made pursuant to Listing Rule 7.7.1(a) of the ASX Listing Rules after taking into consideration the costs of complying with legal and regulatory requirements in jurisdictions outside of Australia and New Zealand compared with the small number of Ineligible Shareholders and the number and value of New Shares to which they would otherwise be entitled.

If you have any queries concerning the Offer, please contact your financial adviser or Paul Jurman, the Company Secretary, on +61 8 9200 0435.

Yours faithfully

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Paul Jurman Company Secretary

T E M P E S T M I N E R A L S L T D A C N 6 1 2 0 0 8 3 5 8 Level 2, Suite 9, 389 Oxford Street, Mt Hawthorn, WA 6016 | Phone: +61 8 9200 0435 Email: info@tempestminerals.com www.tempestminerals.com ASX: TEM