VAULT MINERALS LIMITED — Share Issue/Capital Change 2021

Dec 9, 2021

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

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Announcement Summary

Entity name

RED 5 LIMITED

Date of this announcement

Friday December 10, 2021

The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

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	PIO Performance Rights	10,876,071	10/12/2021
to be confirmed

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

RED 5 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

ABN

Registration number

73068647610

1.3 ASX issuer code

RED

1.4 The announcement is

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New announcement

1.5 Date of this announcement

10/12/2021

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Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

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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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

ASX +security code New class - code to be confirmed	+Security description PIO Performance Rights
+Security type	ISIN code
Other

Date the +securities the subject of this notification were issued 10/12/2021

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Mark Williams	Mark Williams	1,510,989
Jason Greive	Jason Greive	1,098,901
John Tasovac	John Tasovac	879,121

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Each Project Incentive Opportunity (PIO) performance right entitles the holder to be issued with one ordinary fully paid share, for nil cash consideration, subject to the satisfaction of the following vesting conditions over the measurement period of 1 July 2021 to 30 June 2023:

(a) 50% of the performance rights based on a specified number of gold ounces produced, based on budgetted production schedules;

• (b) 25% of the performance rights based on a specified volume of ore being processed at the KOTH processing plant, based on forecast mining schedules; and

(c) 25% of the performance rights based on a specified volume of development metres being achieved at the Darlot underground mine, based on forecast mining schedules.

Other terms of the PIO performance rights are contained in the notice of annual general meeting held on 24 November 2021. Refer URL link: https://www.asx.com.au/asxpdf/20211020/pdf/451vybf9x4fkst.pdf

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme

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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or a summary of the terms

The PIO performance rights are being issued pursuant to the Red 5 Rights Plan last approved by shareholders on 18 November 2020. Refer to notice of meeting at: https://www.asx.com.au/asxpdf/20201014/pdf/44np8qxmr08xkq.pdf

Any other information the entity wishes to provide about the +securities the subject of this notification

Issue of Project Incentive Opportunity (PIO) Performance Rights to senior executives, general managers, managers and superintendents pursuant to the Red 5 Rights Plan.

Issue details

Number of +securities 10,876,071

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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
RED : ORDINARY FULLY PAID	2,356,360,652

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
REDAR : PERFORMANCE RIGHTS	18,387,760
REDAV : SERVICE RIGHTS	412,088
New class - code to be confirmed : PIO Performance Rights	10,876,071

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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? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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