Announcement PDF Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Announcement Summary Entity name EQ RESOURCES LIMITED Date of this announcement Tuesday July 04, 2023 The +securities the subject of this notification are: +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 ASX +security code New class - code to be confirmed Security description 16,400,000 Unlisted Options Refer to next page for full details of the announcement Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 1/7 Total number of +securities to be issued/transferred Issue date 16,400,000 03/07/2023 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Part 1 - Entity and announcement details 1.1 Name of entity EQ RESOURCES 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 Registration number ABN 77115009106 1.3 ASX issuer code EQR 1.4 The announcement is New announcement 1.5 Date of this announcement 4/7/2023 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 2/7 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Part 2 - Issue details 2.1 The +securities the subject of this notification are: +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: does not have an existing ASX security code ("new class") Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 3/7 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 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 ASX +security code +Security description New class - code to be confirmed 16,400,000 Unlisted Options +Security type ISIN code Options Date the +securities the subject of this notification were issued 3/7/2023 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? Yes Provide details of the KMP or +associates being issued +securities. Name of KMP Name of registered holder Number of +securities Kevin Macneill Kevin Macneill 1,000,000 Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. N/A Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.10000000 3/7/2026 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option Other Description 16,400,000 unquoted options, exercisable at $0.10, expiring 3 years from Issue date 03/07/26. Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme Notification of Issue, Conversion or Payment up of Unquoted 4/7 Equity Securities Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 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 https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02298703-2A1258730?access_token=8 Any other information the entity wishes to provide about the +securities the subject of this notification The Options vest as follows: 1 year from date of issue subject to continuous employment or rendering of services by/to the Company to the vesting date. Issue details Number of +securities 16,400,000 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 5/7 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 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 +securities on issue ASX +security code and description EQR : ORDINARY FULLY PAID 1,474,486,938 4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX) Total number of +securities on issue ASX +security code and description EQRAK : OPTION EXPIRING 17-SEP-2023 EX $0.065 25,000,000 EQRAL : CONVERTIBLE NOTES 4,000,000 EQRAJ : OPTION EXPIRING 23-JUN-2024 EX $0.06 10,000,000 EQRAI : OPTION EXPIRING 23-JUN-2024 EX $0.06 12,000,000 EQRAF : OPTION EXPIRING 01-FEB-2024 EX $0.04 2,000,000 EQRAM : OPTION EXPIRING 07-NOV-2025 EX $0.065 28,532,346 EQRAN : OPTION EXPIRING 31-JAN-2026 EX $0.065 1,250,000 EQRAH : OPTION EXPIRING 25-MAY-2024 EX $0.06 22,000,000 EQRAG : OPTION EXPIRING 19-MAR-2024 EX $0.0432 30,000,000 New class - code to be confirmed : 16,400,000 Unlisted Options 16,400,000 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 6/7 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 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 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 7/7