Announcement PDF Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 1 / 9 Announcement Summary Entity name PINNACLE MINERALS LIMITED Announcement Type New announcement Date of this announcement 26/10/2026 The Proposed issue is: Total number of +securities proposed to be issued for a placement or other type of issue ASX +security code +Security description Maximum Number of +securities to be issued New class-code to be confirmed Performance Shares 33,333,333 New class-code to be confirmed Performance Shares 3,333,333 PIMAI PERFORMANCE RIGHTS 44,000,000 PIM ORDINARY FULLY PAID 65,555,555 PIMOB OPTION EXPIRING 22-AUG-2028 14,444,445 Proposed +issue date 31/12/2026 Refer to next page for full details of the announcement A placement or other type of issue Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 2 / 9 Part 1 - Entity and announcement details 1.1 Name of +Entity PINNACLE MINERALS 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 ACN Registration Number 655033677 1.3 ASX issuer code PIM 1.4 The announcement is 1.5 Date of this announcement 26/10/2026 1.6 The Proposed issue is: A placement or other type of issue New announcement Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 3 / 9 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? 7A.1a Conditions Approval/Condition +Security holder approval Date for determination 30/11/2026 Is the date estimated or actual? ** Approval received/condition met? Comments All issues of securities are subject to shareholder approval 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)? Will the proposed issue of this +security include an offer of attaching +securities? Details of +securities proposed to be issued ASX +security code and description PIM : ORDINARY FULLY PAID Number of +securities proposed to be issued 28,888,889 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? In what currency is the cash consideration being paid? AUD - Australian Dollar What is the issue price per +security? AUD 0.04500 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes Yes Yes Existing class Actual Yes Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 4 / 9 Attaching +Security Is the proposed attaching 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)? Attaching +Security - Existing class (additional +securities in a class that is already quoted or recorded by ASX) Details of attaching +securities proposed to be issued ASX +security code and description PIMOB : OPTION EXPIRING 22-AUG-2028 Number of +securities proposed to be issued 14,444,445 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? Please describe the consideration being provided for the +securities Free attaching options Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 0.011000 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? 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)? Will the proposed issue of this +security include an offer of attaching +securities? Details of +securities proposed to be issued ASX +security code and description PIM : ORDINARY FULLY PAID Number of +securities proposed to be issued 33,333,333 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? No Yes Existing class Yes No Existing class Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 5 / 9 Please describe the consideration being provided for the +securities Consideration for project acquisition Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 0.045000 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Attaching +Security Is the proposed attaching 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)? Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX) Details of attaching +securities proposed to be issued ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them) Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1? Will the entity be seeking quotation of the 'new' class of +securities on ASX? ASX +security code New class-code to be confirmed +Security description Performance Shares +Security type Performance shares/units Number of +securities proposed to be issued 33,333,333 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? Please describe the consideration being provided for the +securities Consideration for project acquisition Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 0.001000 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes No No Yes New class Yes Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 6 / 9 Performance shares/units details +Security currency AUD - Australian Dollar Will there be +CDIs issued over the +securities? Is it a partly paid class of +security? Is it a stapled +security? Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement. Consideration for project acquisition 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)? Will the proposed issue of this +security include an offer of attaching +securities? Details of +securities proposed to be issued ASX +security code and description PIM : ORDINARY FULLY PAID Number of +securities proposed to be issued 3,333,333 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? Please describe the consideration being provided for the +securities Facilitation fee Securities Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 0.045000 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes No Yes Existing class No No No No No No Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 7 / 9 Attaching +Security Is the proposed attaching 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)? Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX) Details of attaching +securities proposed to be issued ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them) Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1? Will the entity be seeking quotation of the 'new' class of +securities on ASX? ASX +security code New class-code to be confirmed +Security description Performance Shares +Security type Performance shares/units Number of +securities proposed to be issued 3,333,333 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? Please describe the consideration being provided for the +securities Facilitation fee securities Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 0.001000 Will all the +securities issued in this class rank equally in all respects from their issue date? Performance shares/units details +Security currency AUD - Australian Dollar Will there be +CDIs issued over the +securities? Is it a partly paid class of +security? Is it a stapled +security? No No No Yes No No Yes New class Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 8 / 9 Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement. Consideration for project acquisition 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)? Will the proposed issue of this +security include an offer of attaching +securities? Details of +securities proposed to be issued ASX +security code and description PIMAI : PERFORMANCE RIGHTS Number of +securities proposed to be issued 44,000,000 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? Please describe the consideration being provided for the +securities Adviser Performance Rights to Joint Lead Managers, Performance Rights to Directors, Proposed Directors and employee Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 0.037700 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Part 7C - Timetable 7C.1 Proposed +issue date 31/12/2026 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? 7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 Yes Yes No No Existing class Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 9 / 9 7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 30/11/2026 7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? 7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? 7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? 7D.4a Please enter the number and +class of the +securities subject to +voluntary escrow and the date from which they will cease to be subject to +voluntary escrow The Consideration Shares will be subject to voluntary escrow, with 25% released on each of the dates falling 3, 6, 9 and 12 months after completion. Any shares issued on conversion of the Consideration Performance Shares within 12 months after completion will be escrowed on the same basis. Part 7E - Fees and expenses 7E.1 Will there be a lead manager or broker to the proposed issue? 7E.1a Who is the lead manager/broker? Oakley and AE Advisors Group are Joint Lead Managers 7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker? Fee will be 6% of the amount raised under the Placement, comprising a management fee of 2% and a selling fee of 4%. Issue the Joint Lead Managers a facilitation fee equal to 10% of the Consideration, comprising 3,333,333 shares and 3,333,333 performance shares plus 22m Performance Rights being 9m to each JLM and 4m to other parties 7E.2 Is the proposed issue to be underwritten? 7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue Part 7F - Further Information 7F.01 The purpose(s) for which the entity is issuing the securities Exploration of the Utah and existing projects, repayment of loan and working capital and corporate admin costs 7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? 7F.2 Any other information the entity wishes to provide about the proposed issue 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) No No Yes Yes No Yes