WHITEHAWK LIMITED — Capital/Financing Update 2025

Oct 15, 2025

Appendix 3B - Proposed issue of securities

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Update Summary

Entity name

WHITEHAWK LIMITED

Announcement Type

Update to previous announcement

Date of this announcement

16/10/2025

Reason for update to a previous announcement

Extension of Closing Date under the Options Prospectus dated 13 October 2025. Refer to ASX announcement dated 16 October 2025 for further details.

Refer to next page for full details of the announcement

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

WHITEHAWK LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

Registration Number

ABN 97620459823

1.3 ASX issuer code

WHK

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Extension of Closing Date under the Options Prospectus dated 13 October 2025. Refer to ASX announcement dated 16 October 2025 for further details.

1.4b Date of previous announcement to this update

13/10/2025

1.5 Date of this announcement

16/10/2025

1.6 The Proposed issue is:

A non-+pro rata offer of +securities under a +disclosure document or +PDS

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Appendix 3B - Proposed issue of securities

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Part 5 - Details of proposed non-pro rata offer under a +disclosure document or +PDS

Part 5A - Conditions

5A.1 Do any external approvals need to be obtained or other conditions satisfied before the non-pro rata offer of +securities under a +disclosure document or + PDS can proceed on an unconditional basis? Yes 5A.1a Conditions Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? +Security holder approval 25/9/2025 Actual Yes

Comments

Refer to the Notice of Meeting dated 22 August 2025, and the General Meeting Results dated 25 September 2025 for further details. This issue was previously announced under the Appendix 3Bs dated 13 August 2025 and 13 October 2025.

Part 5B - Offer details

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? Existing class

Details of +securities proposed to be issued

ASX +security code and description WHKOA : OPTION EXPIRING 24-APR-2028

The number of +securities to be offered under the +disclosure document or +PDS 93,489,879

Will the offer be conditional on applications for a minimum number of +securities being received or a minimum amount being raised (i.e. a minimum subscription condition)? No

Will individual security holders be required to accept the offer for a minimum number or value of +securities (i.e. a minimum acceptance condition)? No

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Appendix 3B - Proposed issue of securities

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Will individual security holders be limited to accepting the offer for a maximum number or value of +securities (i.e. a maximum acceptance condition)? Yes Is the maximum acceptance unit based or dollar based? Unit based Please enter the maximum acceptance value 10,006,792 Offer price details Has the offer price been determined? No How and when will the offer price be determined? The Options are being issued for nil consideration to Placement Participants, Related Parties, and Advisors. Refer to the the Prospectus dated 13 October 2025 for further details. Will the offer price be determined by way of a bookbuild? No Oversubscription & Scale back details Will the entity be entitled to accept over-subscriptions? No Will a scale back be applied if the offer is over-subscribed? No Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Part 5C - Timetable 5C.1 Lodgement date of +disclosure document or +PDS with ASIC 13/10/2025 5C.2 Date when +disclosure document or +PDS and acceptance forms will be made available to investors 14/10/2025 5C.3 Offer open date 14/10/2025 5C.4 Closing date for receipt of acceptances 23/10/2025 5C.6 Proposed +issue date 24/10/2025

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Appendix 3B - Proposed issue of securities

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Part 5D - Listing Rule requirements

5D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? Yes

5D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

25/9/2025

5D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Yes

Part 5E - Fees and expenses

5E.1 Will there be a lead manager or broker to the proposed offer? No

5E.2 Is the proposed offer to be underwritten? No

5E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No

5E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer

Refer to the Options Prospectus dated 13 October 2025 for further details.

Part 5F - Further Information

5F.01 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

Completion of the issue of free-attaching options in connection with the Placement announced on 25 July 2025, and as part consideration to brokers and consultants.

5F.1 Will the entity be changing its dividend/distribution policy if the proposed offer is successful? No

5F.2 Please explain the entity's allocation policy for the offer, including whether or not acceptances from existing +security holders will be given priority

Refer to the the Prospectus dated 13 October 2025 for the allocation policy.

5F.3 URL on the entity's website where investors can download the +disclosure document or +PDS

https://www.whitehawk.com/whitehawk-limited

5F.4 Any other information the entity wishes to provide about the proposed offer

Refer to the Options Prospectus dated 13 October 2025 and ASX announcement dated 16 October 2025 for further details.

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