TITANIUM SANDS LIMITED — Share Issue/Capital Change 2023

Feb 15, 2023

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

TITANIUM SANDS LIMITED

Date of this announcement

Thursday February 16, 2023

The +securities the subject of this notification are: Other

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	unlisted options exercisable at $0.023 and expiring	314,727,284	16/02/2023
to be confirmed	on 16 February 2026

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

TITANIUM SANDS LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ACN

Registration number

009131533

1.3 ASX issuer code

TSL

1.4 The announcement is

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New announcement

1.5 Date of this announcement

16/2/2023

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

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Other

Please specify

Issue of Placement and Broker Options as approved by shareholders at the AGM held on 17/11/2022.

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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does not have an existing ASX security code ("new class")

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

New +securities ASX +security code +Security description New class - code to be confirmed unlisted options exercisable at $0.023 and expiring on 16 February 2026 +Security type ISIN code Options Date the +securities the subject of this notification were issued 16/2/2023 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? Yes Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.02300000 16/2/2026 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option Other Description One fully paid ordinary share (ASX:TSL) Any other information the entity wishes to provide about the +securities the subject of this notification

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

N/A - Previously announced to the market on 2 August 2022 and approved by shareholders on 17 November 2022.

Issue details Number of +securities 274,727,284 Were the +securities issued for a cash consideration? No Please describe the consideration being provided for the +securities 2 free attaching options for every share subscribed for under the placement Purpose of the issue To raise additional working capital Number of +securities 40,000,000 Were the +securities issued for a cash consideration? Yes In what currency was the cash consideration being What was the issue price per +security? paid? AUD - Australian Dollar AUD 0.00001000 Purpose of the issue To pay for services rendered Additional Details

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
TSL : ORDINARY FULLY PAID	1,406,397,846
TSLO : OPTION EXPIRING 17-NOV-2023	66,897,716

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
TSLAF : OPTION EXPIRING 10-MAR-2023 EX $0.05	208,750,000
TSLAD : PERFORMANCE SHARES RESTRICTED	33,333,333
New class - code to be confirmed : unlisted options exercisable at $0.023 and expiring on 16	314,727,284
February 2026

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

17/11/2022

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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