WIN METALS LTD — Share Issue/Capital Change 2021

Oct 6, 2021

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

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Announcement Summary

Entity name

WIDGIE NICKEL LIMITED

Date of this announcement

Thursday October 07, 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	Unlisted Employee Incentive Options	400,000	07/10/2021
to be confirmed
New class - code	Unlisted Employee Incentive Options	400,000	07/10/2021
to be confirmed
New class - code	Unlisted Employee Incentive Options	400,000	07/10/2021
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

WIDGIE NICKEL 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

77648687094

1.3 ASX issuer code

WIN

1.4 The announcement is

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New announcement

1.5 Date of this announcement

7/10/2021

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

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

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----- Start of picture text -----

ASX +security code +Security description
New class - code to be confirmed Unlisted Employee Incentive Options
+Security type ISIN code
Options
Date the +securities the subject of this notification were issued
7/10/2021
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?
No
Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under
listing rule 6.1?
Yes
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being
issued.
https://www.widgienickel.com.au/site/PDF/6338e4fe-da2f-4aa8-ad75-e9eeac89c914/EquityIncentivePlan
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Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.20000000 22/9/2024 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option Other Description WIN ORDINARY FULLY PAID

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

400,000 Options have an exercise price of $0.20 each and will vest 6 months from the issue date, subject to continued service with the Company at the time of vesting

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

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

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Issue details

Number of +securities

	Number of +securities
	400,000
	ASX +security code New class - code to be confirmed	+Security description Unlisted Employee Incentive Options
	+Security type	ISIN code
	Options
	Date the +securities the subject of this notification were issued
	7/10/2021
	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?
	No
	Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under
	listing rule 6.1?
	Yes
	Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being
	issued.
	https://www.widgienickel.com.au/site/PDF/6338e4fe-da2f-4aa8-ad75-e9eeac89c914/EquityIncentivePlan
	Options Details
	+Security currency	Exercise price Expiry date
	AUD - Australian Dollar	AUD 0.30000000 22/9/2024
	Details of the existing class of +security that will be issued upon exercise or conversion of this new class of
	company option
	Other

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

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Description

WIN ORDINARY FULLY PAID

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

400,000 Options have an exercise price of $0.30 each and will vest 18 months from the Company¿s official listing on the Australian Securities Exchange (ASX) and quotation of all of the Shares in the Company on ASX, being 22 September 2021 (Listing), subject to continued service with the Company at the time of vesting

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

Issue details

Number of +securities

400,000

ASX +security code +Security description

New class - code to be confirmed Unlisted Employee Incentive Options +Security type ISIN code Options

Date the +securities the subject of this notification were issued

7/10/2021

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? No

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1?

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Yes

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

https://www.widgienickel.com.au/site/PDF/6338e4fe-da2f-4aa8-ad75-e9eeac89c914/EquityIncentivePlan

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Options Details

+Security currency AUD - Australian Dollar

Exercise price Expiry date AUD 0.40000000 22/9/2024

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

Description

WIN ORDINARY FULLY PAID

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

400,000 Options have an exercise price of $0.40 each and will vest 30 months after Listing, subject to continued service with the Company at the time of vesting

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

Issue details

Number of +securities

400,000

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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
WIN : ORDINARY FULLY PAID	250,000,000
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
WINAD : OPTION EXPIRING 22-SEP-2024 RESTRICTED	500,000
WINAA : ORDINARY FULLY PAID RESTRICTED	125,000
WINAE : OPTION EXPIRING 22-SEP-2024 RESTRICTED	2,000,000
WINAF : OPTION EXPIRING 22-SEP-2024 RESTRICTED	2,000,000
WINAG : OPTION EXPIRING 22-SEP-2024 RESTRICTED	4,000,000
WINAB : OPTION EXPIRING 22-SEP-2024 RESTRICTED	500,000
WINAC : OPTION EXPIRING 22-SEP-2024 RESTRICTED	500,000
New class - code to be confirmed : Unlisted Employee Incentive Options	400,000
New class - code to be confirmed : Unlisted Employee Incentive Options	400,000
New class - code to be confirmed : Unlisted Employee Incentive Options	400,000

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

13

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