VAULT MINERALS LIMITED — Capital/Financing Update 2023

Mar 1, 2023

==> picture [73 x 61] intentionally omitted <==

Red 5 Limited

PO Box 1911 West Perth 6872 Western Australia, Australia

Telephone: +61 8 9322 4455 Facsimile: +61 8 9481 5950

2 March 2023

ASX Market Announcements ASX Limited Level 4 20 Bridge Street SYDNEY NSW 2000

COMPLETION OF FIRST TRANCHE OF SHARE PLACEMENT AND CLEANSING STATEMENT

Red 5 Limited ( Company ) advises that settlement of the first tranche of the share placement ( Placement ) announced by the Company on 23 February 2023 has been completed. The Company has issued 418,922,507 ordinary fully paid shares at a subscription price of $0.135 each for gross proceeds of $56.55 million ( First Tranche Share Placement ). The shares were issued pursuant to capacity under Listing Rule 7.1.

The second tranche of the Placement comprises 173,670,085 shares at $0.135 per share for gross proceeds of $23.45 million and is subject to the approval of shareholders at a general meeting of the Company to be held in mid-April 2023.

Separately, the Company is offering shares under a fully underwritten share purchase plan ( Share Purchase Plan ) to raise $10 million. The Share Purchase Plan will be offered in accordance with the ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547 ( ASIC Instrument ) and a Share Purchase Plan offer booklet, which will be despatched to eligible shareholders of the Company.

Notice under Section 708A(5)(e) of the Corporations Act and the ASIC Instrument

Red 5 Limited gives notice under Section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Act ) in relation to 418,922,507 ordinary fully paid shares in the Company issued without a disclosure document to exempt investors under Section 708 of the Act, at a price of $0.135 per share on 1 March 2023 (being the First Tranche Share Placement) pursuant to the ASX announcement released on 23 February 2023 and the ordinary fully paid shares the subject of the Share Purchase Plan to be offered and issued pursuant to the ASIC Instrument and in compliance with section 7(f) of the ASIC Instrument.

The Company advises that:

1. the securities offered under the First Tranche Share Placement by the Company were issued, and the Company will make offers under the Share Purchase Plan, without disclosure to investors under Part 6D.2 of the Act;

2. this notice is being given under section 708A(5)(e) of the Act and the ASIC Instrument;

3. as at the date of this notice the Company has complied with:

4. (a) the provisions of Chapter 2M of the Act as they apply to the Company; and

5. (b) sections 674 and 674A of the Act; and

6. as at the date of this notice, there is no information that is “excluded information” within the meaning of section 708A(7) and 708A(8) of the Act that has not already been disclosed to investors generally or as required under section 708A(6)(e) of the Act.

Authorised for release by the Board of Directors of Red 5 Limited.

Mark Williams

Managing Director