24 Nov

Notification regarding unquoted securities - ESS

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 1 / 7 Announcement Summary Entity name ESSENTIAL METALS LIMITED Date of this announcement Wednesday November 24, 2021 The +securities the subject of this notification are: Total number of +securities to be issued/transferred ASX +security code Security description Total number of +securities to be issued/transferred Issue date ESSAZ PERFORMANCE RIGHTS EXPIRING 30-JUN-2025 795,918 24/11/2021 Refer to next page for full details of the announcement +Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 2 / 7 Part 1 - Entity and announcement details 1.1 Name of entity ESSENTIAL METALS 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 ABN Registration number 44103423981 1.3 ASX issuer code ESS 1.4 The announcement is 1.5 Date of this announcement 24/11/2021 New announcement Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 3 / 7 Part 2 - Issue details 2.1 The +securities the subject of this notification are: 2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which: has an existing ASX security code ("existing class") +Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 4 / 7 Part 3B - number and type of +securities the subject of this notification (existing class) where issue has not previously been notified to ASX in an Appendix 3B ASX +security code and description ESSAZ : PERFORMANCE RIGHTS EXPIRING 30-JUN-2025 Date the +securities the subject of this notification were issued 24/11/2021 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class Were any of the +securities issued to +key management personnel (KMP) or an +associate? Provide details of the KMP or +associates being issued +securities. Name of KMP Name of registered holder Number of +securities Timothy Spencer Mr Timothy Gerard Spencer ATF  795,918 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://www.asx.com.au/asxpdf/20211022/pdf/451ykyrgb0wy3c.pdf Any other information the entity wishes to provide about the +securities the subject of this notification 795,918 unlisted Performance Rights expiring on 30 June 2025 with the following performance hurdles tested on 30 June 2024: - 50% of the granted Performance Rights will be subject to a vesting condition, whereby the Absolute Total Shareholder Return (TSR) must exceed 25% over the performance period commencing on 1 July 2021 and ending on 30 June 2024. - 50% of the granted Performance Rights will be subject to a vesting condition based on Relative Shareholder Return, whereby the Company's TSR must be greater than the TSR's of 70% of the 10 peer group of companies over the performance period commencing on 1 July 2021 and ending on 30 June 2024. This vesting condition can only be met if the Company's TSR is positive. Yes Yes Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 5 / 7 Issue details Number of +securities 795,918 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 6 / 7 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) ASX +security code and description Total number of +securities on issue ESS : ORDINARY FULLY PAID 237,619,974 ESSO : OPTION EXPIRING 30-NOV-2022 24,587,624 4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX) ASX +security code and description Total number of +securities on issue ESSAT : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES 5,388,894 ESSAA : OPTION EXPIRING 30-SEP-2024 EX $0.125 200,000 ESSAB : OPTION EXPIRING 30-SEP-2024 EX $0.175 200,000 ESSAC : OPTION EXPIRING 30-SEP-2024 EX $0.225 200,000 ESSAU : PERFORMANCE RIGHTS 1,745,610 ESSAV : OPTION EXPIRING 31-JAN-2024 EX 25C 500,000 ESSAW : OPTION EXPIRING 31-JAN-2024 EX 35C 500,000 ESSAX : OPTION EXPIRING 31-JAN-2024 EX 45C 500,000 ESSAZ : PERFORMANCE RIGHTS EXPIRING 30-JUN-2025 2,067,602 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 7 / 7 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? 5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? 5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 23/11/2021 Yes No

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