VICTORY METALS LIMITED — Capital/Financing Update 2021

Sep 23, 2021

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

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Announcement Summary

Entity name

VICTORY GOLDFIELDS LIMITED

Date of this announcement

Friday September 24, 2021

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

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

VICTORY GOLDFIELDS 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

124279750

1.3 ASX issuer code

1VG

1.4 The announcement is

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New announcement

1.5 Date of this announcement

24/9/2021

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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

3,200,000 unlisted options ex $0.20 on or before 31 Dec 22 being released from escrow on 23 Sept 21

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

Additional +securities in an existing class

ASX +security code and description

1VGAG : OPTION EXPIRING 31-DEC-2022 RESTRICTED

Date the +securities the subject of this notification were issued

23/9/2020

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class Yes

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

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

The unlisted options were issued prior to the company being admitted to the Official List of the ASX. For further details please refer to the prospectus released 20-07-2021 on the ASX platform.

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

Issue details

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Number of +securities

0

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

The unlisted options were issued prior to the company being admitted to the Official List of the ASX. For further details please refer to the prospectus released 20-07-2021 on the ASX platform.

Purpose of the issue

Other

Additional Details

3,200,000 unlisted options ex $0.20 on or before 31 Dec 22 being released from escrow on 23 Sept 21

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

Part 4 - +Securities on issue

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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
1VG : ORDINARY FULLY PAID	31,367,926
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
1VGAC : ORDINARY FULLY PAID RESTRICTED	8,576,284
1VGAD : OPTION EXPIRING 31-DEC-2022 RESTRICTED	3,200,000
1VGAE : OPTION EXPIRING 31-DEC-2022 RESTRICTED	6,253,618
1VGAF : OPTION EXPIRING 20-JUL-2023 RESTRICTED	594,776
1VGAG : OPTION EXPIRING 31-DEC-2022 RESTRICTED	296,382
1VGAH : OPTION EXPIRING 20-JUL-2023 RESTRICTED	4,980,224
1VGAI : OPTION EXPIRING 16-JUL-2024 RESTRICTED	1,533,334
1VGAJ : OPTION EXPIRING 16-JUL-2024 RESTRICTED	1,533,333
1VGAK : OPTION EXPIRING 16-JUL-2024 RESTRICTED	1,533,333
1VGAL : PERFORMANCE SHARES RESTRICTED	476,348
1VGAM : PERFORMANCE SHARES RESTRICTED	4,227,118
1VGAA : ORDINARY FULLY PAID RESTRICTED	2,400,000
1VGAB : ORDINARY FULLY PAID RESTRICTED	4,690,221

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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? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? No

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? N/A

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