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
REDAR	PERFORMANCE RIGHTS	17,674,562	10/12/2021

Refer to next page for full details of the announcement

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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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has an existing ASX security code ("existing class")

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

ASX +security code and description

REDAR : PERFORMANCE RIGHTS

Date the +securities the subject of this notification were issued

10/12/2021

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class 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	2,266,484
Jason Greive	Jason Greive	1,373,626
John Tasovac	John Tasovac	1,098,901

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

The Long Term Incentive Plan (LTIP) 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/2020101 4/pdf/44np8qxmr08xkq.pdf

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

Each 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 2024:

(a) 70% of the performance rights based on Company Total Shareholder Return above the S&P/ASX All Ordinaries Gold Index Total Return; and

(b) 30% of the performance rights based on growth in the Company¿s Ore Reserves (excluding 50% of acquired Ore Reserves).

Other terms of the performance rights are contained in the notice of meeting and explanatory memorandum for the annual general meeting of shareholders of the Company held on 24 November 2021. Refer URL link: https://www.asx.com.au/as xpdf/20211020/pdf/451vybf9x4fkst.pdf

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Issue details

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Number of +securities

17,674,562

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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	36,062,322
REDAV : SERVICE RIGHTS	412,088

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

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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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