TERRA METALS LIMITED — Share Issue/Capital Change 2021

Sep 29, 2021

Notification of Consolidation/Split

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Announcement Summary

Entity name

PARINGA RESOURCES LIMITED

Applicable security for the reorganisation

PNL ORDINARY FULLY PAID PNLAC OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES

Announcement Type

New Announcement

Date of this announcement

30/9/2021

Reorganisation type

Security consolidation

Trading in the post consolidation or split +securities commences on a deferred settlement basis 29/11/2021

Record Date

30/11/2021

Issue Date

7/12/2021

Refer to below for full details of the announcement

Notification of Consolidation/Split

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Notification of Consolidation/Split

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Announcement Details

Part 1 - Entity and announcement details

1.1 Name of +Entity

PARINGA RESOURCES LIMITED 1.2 Registered Number Type Registration Number ABN 44155933010 1.3 ASX issuer code PNL 1.4 The announcement is New announcement

1.5 Date of this announcement 30/9/2021

1.6 Securities affected by the consolidation or split

ASX +Security Code ASX +Security Description PNL ORDINARY FULLY PAID PNLAC OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES

Part 2 - Approvals

2.1 Are any of the below approvals required for the consolidation or split before business day 0 of the timetable? Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity required to be given/met before business day 0 of the timetable for the consolidation or split. Yes

2.2 Approvals

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Notification of Consolidation/Split

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Approval/Condition

Approval/Condition Date for determination Is the date estimated or Approval actual? received/condition met? +Security holder approval 30/11/2021 Estimated

Comments

Part 3 - Consolidation or split timetable and details

3.1 +Record date

30/11/2021

3.2 Date of +security holder meeting

30/11/2021

3.2a Effective date of consolidation or split

25/11/2021

3.3 Last day for trading in the pre consolidation or split +securities

26/11/2021

3.4 Trading in the post consolidation or split +securities commences on a deferred settlement basis.

29/11/2021

3.5 Record date

30/11/2021

3.6 First day for entity to update its register and to send holding statements to +security holders reflecting the change in the number of +securities they hold.

1/12/2021

3.7 Last day for entity to update its register and send holding statements to +security holders reflecting the change in the number of +securities they hold and to notify ASX that this has occurred. (+Issue Date) 7/12/2021

3.8 Trading starts on a normal T+2 basis

8/12/2021

3.9 First settlement of trades conducted on a +deferred settlement basis and on a normal T+2 basis

10/12/2021

Part 4 - Event type and details

4.1 The event is +Security consolidation

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Notification of Consolidation/Split

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4.1a Consolidation ratio: the +securities will be consolidated on the basis that every

20

(pre-consolidation) +securities will be consolidated into

1

(post-consolidation) +security (/ies).

4.2 Scrip fraction rounding

Fractions rounded up to the next whole number

Part 5 - +Securities on issue before and after consolidation or split

5.1 +Securities on issue before and after the consolidation or split

ASX +Security Code	ASX +Security Description
PNL	ORDINARY FULLY PAID
Quoted/unquoted	Number on issue pre	Number on issue post	Estimate/Actual
Quoted	consolidation or split	consolidation or split	Estimated
	632,782,393	31,639,120
ASX +Security Code	ASX +Security Description
PNLAC	OPTION EXPIRING VARIOUS	DATES EX VARIOUS PRICES
Quoted/unquoted	Number on issue pre	Number on issue post	Estimate/Actual
Unquoted	consolidation or split	consolidation or split	Estimated
	42,188,888	2,109,444
5.2 Exercise price of options
ASX +Security Code	ASX +Security Description
PNLAC	OPTION EXPIRING VARIOUS	DATES EX VARIOUS PRICES
Quoted/unquoted	Exercise price pre consolidation or Exercise price post		consolidation or
Unquoted	split	split
	AUD 0.00000000	AUD 0.00000000

Part 6 - Further information

6.1 Further information relating to the consolidation or split

Notification of Consolidation/Split

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Notification of Consolidation/Split

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6.2 Additional information for inclusion in the Announcement Summary

Notification of Consolidation/Split

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