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: An offer of securities under a securities purchase plan Total number of +securities proposed to be issued for an offer of securities under a securities purchase plan ASX +security code +Security description EQR ORDINARY FULLY PAID Maximum Number of +securities to be issued 85,714,286 +Record date 21/5/2025 Offer closing date 10/6/2025 +Issue date 17/6/2025 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: An offer of +securities under a +securities purchase plan Appendix 3B - Proposed issue of securities 2/6 Appendix 3B - Proposed issue of securities Part 4 - Details of proposed offer under securities purchase plan Part 4A - Conditions 4A.1 Do any external approvals need to be obtained or other conditions satisfied before the offer of +securities under the +securities purchase plan issue can proceed on an unconditional basis? No Appendix 3B - Proposed issue of securities 3/6 Appendix 3B - Proposed issue of securities Part 4B - Offer details +Class or classes of +securities that will participate in the proposed issue and +class or classes of +securities proposed to be issued ASX +security code and description EQR : ORDINARY FULLY PAID 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 Maximum total number of those +securities that could be issued if all offers under the +securities purchase plan are accepted 85,714,286 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 the offer be conditional on applications for a maximum number of +securities being received or a maximum amount being raised (i.e. a maximum subscription condition)? Yes Describe the maximum subscription condition The Company may, at its absolute discretion, decide to raise an amount higher or less than $3 million or decide to scale back applications for SPP Shares if the aggregate amount applied for under the SPP exceeds its requirements. Will individual security holders be required to accept the offer for a minimum number or value of +securities (i.e. a minimum acceptance condition)? Yes Is the minimum acceptance unit based or dollar based? Dollar based ($) Please enter the minimum acceptance value $ 2,000 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? Dollar based ($) Appendix 3B - Proposed issue of securities 4/6 Appendix 3B - Proposed issue of securities Please enter the maximum acceptance value $ 30,000 Describe all the applicable parcels available for this offer in number of securities or dollar value Each eligible shareholder is entitled to apply for a parcel of New Shares valued at either $2,000, $5,000, $10,000, $15,000, $20,000, $25,000 or $30,000. Offer price details Has the offer price been determined? Yes In what currency will the offer What is the offer price per be made? +security? AUD - Australian Dollar AUD 0.03500 Oversubscription & Scale back details Will a scale back be applied if the offer is over-subscribed? Yes Describe the scale back arrangements EQR may at its absolute discretion increase the size of the SPP or undertake a scale back to the extent and in the manner it sees fit. If the total value of applications received under the SPP is greater than $3 million, EQR may increase the size of the SPP offer or scale back the number of new shares that will be allotted under the SPP. If a scale back is undertaken, EQR may at its absolute discretion determine the manner in which it applies the scale back. Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes Part 4C - Timetable 4C.1 Date of announcement of +security purchase plan 22/5/2025 4C.2 +Record date 21/5/2025 4C.3 Date on which offer documents will be made available to investors 28/5/2025 4C.4 Offer open date 28/5/2025 4C.5 Offer closing date 10/6/2025 4C.7 +Issue date and last day for entity to announce results of +security purchase plan offer 17/6/2025 Appendix 3B - Proposed issue of securities 5/6 Appendix 3B - Proposed issue of securities Part 4D - Listing Rule requirements 4D.1 Does the offer under the +securities purchase plan meet all of the requirements of listing rule 7.2 exception 5 or do you have a waiver from those requirements? Yes Part 4E - Fees and expenses 4E.1 Will there be a lead manager or broker to the proposed offer? No 4E.2 Is the proposed offer to be underwritten? No 4E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No 4E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer Part 4F - Further Information 4F.01 The purpose(s) for which the entity intends to use the cash raised by the proposed issue Funds will be used to fund capital projects primarily related to plant expansion, and optimisation works at both of the company's mines, reducing debt financing and to provide working capital to strengthen the balance sheet. 4F.1 Will the entity be changing its dividend/distribution policy if the proposed offer is successful? No 4F.2 Countries in which the entity has +security holders who will not be eligible to accept the proposed offer All countries outside of Australia, New Zealand, and Singapore. 4F.3 URL on the entity's website where investors can download information about the proposed offer https://www.eqresources.com.au/site/invest-in-us/investor-welcome 4F.4 Any other information the entity wishes to provide about the proposed offer Appendix 3B - Proposed issue of securities 6/6