Announcement PDF Appendix 3B - Proposed issue of securities Announcement Summary Entity name EQ RESOURCES LIMITED Announcement Type New announcement Date of this announcement 3/9/2025 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 ASX +security code +Security description EQR ORDINARY FULLY PAID Maximum Number of +securities to be issued 570,245,602 Proposed +issue date 9/9/2025 Refer to next page for full details of the announcement Appendix 3B - Proposed issue of securities 1/5 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 ACN 115009106 1.3 ASX issuer code EQR 1.4 The announcement is New announcement 1.5 Date of this announcement 3/9/2025 1.6 The Proposed issue is: A placement or other type of issue Appendix 3B - Proposed issue of securities 2/5 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 570,245,602 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 0.03200 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes Appendix 3B - Proposed issue of securities 3/5 Appendix 3B - Proposed issue of securities Part 7C - Timetable 7C.1 Proposed +issue date 9/9/2025 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? 330,000,000 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? 240,245,602 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 The company undertook a share purchase plan in May and June 2025. 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? Joint lead managers Canaccord Genuity (Australia) Limited and Henslow Pty Limited. 7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker? The Lead Managers will be paid a 2% management fee and a 4% capital raising fee in cash. The management fee is to be calculated on the total gross amount raised under the placement while the 4% capital raise fee calculation will not include the funds raised from Oaktree, the company's largest shareholder. Approximately $4.25 million is to be contributed by Oaktree. 7E.2 Is the proposed issue to be underwritten? No Appendix 3B - Proposed issue of securities 4/5 Appendix 3B - Proposed issue of securities 7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue EQR are to issue 113,840,059 options to the Lead Managers. The options are subject to the approval of shareholders at an EGM to be called by EQR. The options will vest upon issue and are to expire 3 years from date of issue, 56,920,029 options are to have an exercise price of $0.0512 and 56,920,029 options are to have an exercise price of $0.0448. Part 7F - Further Information 7F.01 The purpose(s) for which the entity is issuing the securities Proceeds from the Placement will be used to support Mt Carbine production and growth initiatives, creditor management and improvement of debt position, working capital and to cover placement costs. 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 Please refer to the Placement ASX Announcement made on 3 September 2025. 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 5/5