Announcement PDF Appendix 3B - Proposed issue of securities Update Summary Entity name PINNACLE MINERALS LIMITED Announcement Type Update to previous announcement Date of this announcement 4/8/2025 Reason for update to a previous announcement Quantum of Raised increased Refer to next page for full details of the announcement Appendix 3B - Proposed issue of securities 1/7 Appendix 3B - Proposed issue of securities 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 Registration Number ACN 655033677 1.3 ASX issuer code PIM 1.4 The announcement is Update/amendment to previous announcement 1.4a Reason for update to a previous announcement Quantum of Raised increased 1.4b Date of previous announcement to this update 30/7/2025 1.5 Date of this announcement 4/8/2025 1.6 The Proposed issue is: A placement or other type of issue Appendix 3B - Proposed issue of securities 2/7 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? Yes 7A.1a Conditions Approval/Condition Date for determination +Security holder approval 15/9/2025 Is the date estimated or actual? ** Approval received/condition met? Estimated Comments Tranche 2 and 3 and free attaching options and broker options 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)? Existing class Will the proposed issue of this +security include an offer of attaching +securities? Yes Details of +securities proposed to be issued ASX +security code and description PIM : ORDINARY FULLY PAID Number of +securities proposed to be issued 55,000,000 Reason for the update of 'Number of +securities proposed to be issued' Additional funding announced on 4 August 2025 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 0.04000 Will these +securities rank equally in all respects from their issue date with Appendix 3B - Proposed issue of securities 3/7 Appendix 3B - Proposed issue of securities Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes 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)? New class 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 Will the entity be seeking quotation of the 'new' class of of the proposed +securities are appropriate and +securities on ASX? Yes equitable under listing rule 6.1? No ASX +security code +Security description New class-code to be confirmed Options exercisable at $0.08 on or before 3 years from date of issue +Security type Options Number of +securities proposed to be issued 27,500,000 Reason for the update of 'Number of +securities proposed to be issued' Additional funding announced on 4 August 2025 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? No 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 0.010000 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Options details +Security currency AUD - Australian Dollar Appendix 3B - Proposed issue of securities 4/7 Appendix 3B - Proposed issue of securities Exercise price Expiry date AUD 0.0800 15/9/2028 Details of the type of +security that will be issued if the option is exercised PIM : ORDINARY FULLY PAID Number of securities that will be issued if the option is exercised 22,000,000 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. https://www.asx.com.au/markets/company/PIM 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)? New class Will the proposed issue of this +security include an offer of attaching +securities? No Details of +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? No Will the entity be seeking quotation of the 'new' class of +securities on ASX? Yes ASX +security code +Security description New class-code to be confirmed Options exercisable at $0.08 on or before 3 years from date of issue +Security type Options Number of +securities proposed to be issued 8,000,000 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? No Please describe the consideration being provided for the +securities These are broker options and are part of the capital raise fees Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 0.010000 Will all the +securities issued in this class rank equally in all respects from Appendix 3B - Proposed issue of securities 5/7 Appendix 3B - Proposed issue of securities Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Options details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.0800 15/9/2028 Details of the type of +security that will be issued if the option is exercised PIM : ORDINARY FULLY PAID Number of securities that will be issued if the option is exercised 8,000,000 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. https://www.asx.com.au/markets/company/PIM Part 7C - Timetable 7C.1 Proposed +issue date 8/8/2025 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? 6,819,490 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? 4,546,325 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 funds will be received in a timely manner 7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Appendix 3B - Proposed issue of securities 6/7 Appendix 3B - Proposed issue of securities 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? The Placement was jointly managed by AE Advisors and Oakley Capital Partners Pty Ltd 7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker? The Joint Lead Managers to the Placement will receive: A capital raising fee of 6% on funds raised; and 4,000,000 broker options each (8,000,000 in total), on the same terms as the free attaching options. 7E.2 Is the proposed issue to be underwritten? No 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 Funds raised under the Placement will be used to: Advance the Company's exploration programs in Canada and Australia; Support general working capital requirements; and Provide flexibility to evaluate and pursue strategic opportunities. 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 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 7/7