Announcement PDF Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Announcement Summary Entity name SKY METALS LIMITED Date of this announcement Monday September 25, 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 OPTION EXPIRING 22-SEPT-2025 EX $0.064 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 781,862 22/09/2023 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Part 1 - Entity and announcement details 1.1 Name of entity SKY 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 Registration number ACN 098952035 1.3 ASX issuer code SKY 1.4 The announcement is New announcement 1.5 Date of this announcement 25/9/2023 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 Options issued as consideration for the acquisition of the Iron Duke Project, as announced 25-9-2023 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 OPTION EXPIRING 22-SEPT-2025 EX $0.064 +Security type ISIN code Options Date the +securities the subject of this notification were issued 22/9/2023 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. Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.06400000 22/9/2025 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option Other Description SKY Ordinary Fully Paid Shares Any other information the entity wishes to provide about the +securities the subject of this notification Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 4/7 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 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 Consideration for the exercise of the option to acquire the Iron Duke Project, as announced 25-9-2023 Issue details Number of +securities 781,862 Were the +securities issued for a cash consideration? No Please describe the consideration being provided for the +securities Consideration for the exercise of the option to acquire the Iron Duke Project, as announced 25-9-2023 Purpose of the issue To pay for the acquisition of an asset Additional Details Name of company or asset being acquired Iron Duke Project, EL6064 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 SKY : ORDINARY FULLY PAID 454,556,796 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 SKYAN : PERFORMANCE RIGHTS EXPIRING 17-DEC-2024 6,000,000 SKYAO : PERFORMANCE RIGHTS EXPIRING 12-JAN-2026 8,250,000 SKYAP : OPTION EXPIRING 09-DEC-2024 EX $0.0675 6,000,000 SKYAM : OPTION EXPIRING 31-JAN-2024 EX $0.25 2,000,000 New class - code to be confirmed : OPTION EXPIRING 22-SEPT-2025 EX $0.064 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 6/7 781,862 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? 781,862 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