Announcement PDF Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Announcement Summary Entity name EQ RESOURCES LIMITED Date of this announcement Wednesday November 08, 2023 The +securities the subject of this notification are: Other Total number of +securities to be issued/transferred ASX +security code New class - code to be confirmed Security description Convertible Notes 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 750,000 08/11/2023 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 ACN 115009106 1.3 ASX issuer code EQR 1.4 The announcement is New announcement 1.5 Date of this announcement 8/11/2023 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 Please specify 750,000 Convertible notes, convertible at $0.10 per share, convertible or redeemed on 8 Nov 2025 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 New +securities ASX +security code +Security description New class - code to be confirmed Convertible Notes +Security type ISIN code +Convertible debt securities Date the +securities the subject of this notification were issued 8/11/2023 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes 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. +Convertible debt securities Details Type of +security Convertible note or bond +Security currency Face value Interest rate type AUD - Australian Dollar AUD 1.00000000 Fixed rate Frequency of coupon/interest payments per year First interest payment date Annual 8/11/2024 Interest rate per annum 9.00 % Is the interest rate per annum estimated at this time? Yes If the interest rate per annum is estimated, then what is the date for this information to be announced to the market (if known) 8/11/2024 s128F of the Income Tax Assessment Act status applicable to the +security Notification of Issue, Conversion or Payment up of Unquoted 4/7 Equity Securities Notification of Issue, Conversion or Payment up of Unquoted Equity Securities s128F of the Income Tax Assessment Act status applicable to the +security Not applicable Is the +security perpetual (i.e. no maturity)? No Maturity date 8/11/2025 Select other feature(s) applicable to the +security Convertible Is there a first trigger date on which a right of conversion, redemption, call or put can be exercised (whichever is first)? No Details of the existing class of +security that will be issued if the securities are converted, transformed or exchanged Other Description 750,000 Convertible Notes, convertible into Shares at a fixed conversion price of $0.10 per Share, convertible or otherwise redeemed within 24 months from the issue date Any other information the entity wishes to provide about the +securities the subject of this notification Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B Appendix 3B was lodged on 6 November 2023 Issue details Number of +securities 750,000 Were the +securities issued for a cash consideration? Yes In what currency was the cash consideration being paid? What was the issue price per +security? AUD - Australian Dollar AUD 1.00000000 Purpose of the issue Other Additional Details The purpose is for funding completion of Saloro acquisition 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 1,569,806,073 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 EQRAO : OPTION EXPIRING 03-JUL-2026 EX $0.10 16,400,000 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 19,751,674 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 : Convertible Notes Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 750,000 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? No 5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No 5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes 5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? 750,000 Convertible Notes 5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 7/7