Announcement PDF Appendix 3B - Proposed issue of securities Announcement Summary Entity name EQ RESOURCES LIMITED Announcement Type New announcement Date of this announcement 22/5/2025 The Proposed issue is: A placement or other type of issue Total number of +securities proposed to be issued for a placement or other type of issue Maximum Number of +securities to be issued ASX +security code +Security description New class-code to be confirmed Unlisted Options Exercisable at $0.0675, expiring 29 May 2027 28,087,501 EQR ORDINARY FULLY PAID 287,667,715 Proposed +issue date 27/5/2025 Refer to next page for full details of the announcement Appendix 3B - Proposed issue of securities 1/6 Appendix 3B - Proposed issue of securities Part 1 - Entity and announcement details 1.1 Name of +Entity EQ RESOURCES 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 77115009106 1.3 ASX issuer code EQR 1.4 The announcement is New announcement 1.5 Date of this announcement 22/5/2025 1.6 The Proposed issue is: A placement or other type of issue Appendix 3B - Proposed issue of securities 2/6 Appendix 3B - Proposed issue of securities Part 7 - Details of proposed placement or other issue Part 7A - Conditions 7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis? No Part 7B - Issue details Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class Will the proposed issue of this +security include an offer of attaching +securities? No Details of +securities proposed to be issued ASX +security code and description EQR : ORDINARY FULLY PAID Number of +securities proposed to be issued 287,667,715 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? Yes In what currency is the cash consideration being paid? What is the issue price per +security? AUD - Australian Dollar AUD 0.03500 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? New class Appendix 3B - Proposed issue of securities Will the proposed issue of this +security include an offer of attaching +securities? No 3/6 Appendix 3B - Proposed issue of securities Details of +securities proposed to be issued ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them) Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1? No Will the entity be seeking quotation of the 'new' class of +securities on ASX? Yes ASX +security code +Security description New class-code to be confirmed Unlisted Options Exercisable at $0.0675, expiring 29 May 2027 +Security type Options Number of +securities proposed to be issued 28,087,501 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? No Please describe the consideration being provided for the +securities Lead Manager Options per placement mandate. See ASX announcement made 22 May 2025. Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 0.012400 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Options details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.0675 29/5/2027 Details of the type of +security that will be issued if the option is exercised EQR : ORDINARY FULLY PAID Number of securities that will be issued if the option is exercised 28,087,501 Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement. Please see Appendix 1 of the ASX announcement made on 22 May 2025 - EQR Announces Significant Equity Raise and Share Purchase Plan. Appendix 3B - Proposed issue of securities 4/6 Appendix 3B - Proposed issue of securities Part 7C - Timetable 7C.1 Proposed +issue date 27/5/2025 Part 7D - Listing Rule requirements 7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? No 7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes 7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1? 87,667,715 Ordinary Shares and 28,087,501 Lead Manager Options 7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? Yes 7D.1c ( i ) How many +securities are proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A? 200,000,000 Ordinary Shares 7D.1c ( ii ) Please explain why the entity has chosen to do a placement rather than a +pro rata issue or an offer under a +security purchase plan in which existing ordinary +security holders would have been eligible to participate EQR's existing shareholders will be provided the opportunity to participate in the Share Purchase Plan announced on the same date as the placement at the same price as placement participants. 7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No 7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No 7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No Part 7E - Fees and expenses 7E.1 Will there be a lead manager or broker to the proposed issue? Yes 7E.1a Who is the lead manager/broker? PAC Partners Securities Pty Ltd & STK Markets Pty Ltd (Joint Lead Managers) 7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker? PAC Partners Securities Pty Ltd & STK Markets Pty Ltd as as Joint Lead Managers and bookrunner who have provided their engagement letters. A cash management fee equal to 1% and a selling fee of 5% of proceeds raised before costs, excluding Chairman List investors, is to be paid to the Joint Lead Managers. In addition 28,087,501 Lead Broker Options are to be issued to the Joint Lead Managers, exercisable at $0.0675 (6.75 cents), expiring 29 May 2027. Appendix 3B - Proposed issue of securities 5/6 Appendix 3B - Proposed issue of securities 7E.2 Is the proposed issue to be underwritten? No 7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue Part 7F - Further Information 7F.01 The purpose(s) for which the entity is issuing the securities To fund capital projects primarily related to plant expansion and optimisation works at the Mt Carbine mine in Australia and the Barruecopardo mine in Spain, reducing debt financing and to provide working capital to strengthen the balance sheet. 7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No 7F.2 Any other information the entity wishes to provide about the proposed issue 7F.3 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f) Appendix 3B - Proposed issue of securities 6/6