Announcement PDF Application for quotation of +securities Announcement Summary Entity name ADAVALE RESOURCES LIMITED Announcement Type New announcement Date of this announcement Friday June 23, 2023 The +securities to be quoted are: Other Total number of +securities to be quoted ASX +security code Security description New class - code to be confirmed Options exercisable at $0.03 each expiring 31 December 2025 Refer to next page for full details of the announcement Application for quotation of +securities 1/7 Number of +securities to be quoted Issue date 78,334,160 22/06/2023 Application for quotation of +securities Part 1 - Entity and announcement details 1.1 Name of entity ADAVALE RESOURCES LIMITED We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules. 1.2 Registered number type Registration number ACN 008719015 1.3 ASX issuer code ADD 1.4 The announcement is New announcement 1.5 Date of this announcement 23/6/2023 Application for quotation of +securities 2/7 Application for quotation of +securities Part 2 - Type of Issue 2.1 The +securities to be quoted are: Other 2.2 The +securities to be quoted are: New +securities in a class that is not yet quoted on ASX ("new class") 2.3c Have these +securities been offered under a +disclosure document or +PDS? Yes 2.3c.1 Date of +disclosure document or +PDS? 7/6/2023 2.3d Please provide any further information needed to understand the circumstances in which you are applying to have these +securities quoted on ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B Quotation of Options exercisable at $0.03 each expiring 31 December 2025. Securities were previously announced on Appendix 3Bs on 15 March 2023. Application for quotation of +securities 3/7 Application for quotation of +securities Part 3C - number and type of +securities to be quoted (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 Options exercisable at $0.03 each expiring 31 December 2025 +Security type ISIN code Options Issue date 22/6/2023 Will all the +securities issued in this class rank equally in all respects from the issue date? Yes Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? Yes Distribution Schedule Provide a distribution schedule for the new +securities according to the categories set out in the left hand column including the number of recipients and the total percentage of the new +securities held by the recipients in each category. Number of +securities held Number of holders Total percentage of +securities held For example, to enter a value of 50% please input as 50.00 1 - 1,000 % 1,001 - 5,000 % 5,001 - 10,000 % 10,001 - 100,000 % 100,001 and over % Application for quotation of +securities 4/7 Application for quotation of +securities Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.03000000 31/12/2025 Details of the type of +security that will be issued if an option is exercised ADD : ORDINARY FULLY PAID Number of +securities that will be issued if an option is exercised 1 New Ordinary Fully Paid Share for every option exercised. Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities to be quoted or provide the information by separate announcement. Issue details Number of +securities to be quoted 78,334,160 Are the +securities being issued for a cash consideration? No Please describe the consideration being provided for the +securities Free attaching options issued as part of the issue of the Convertible Notes as announced on 15 March 2023 and broker options. Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted 0.000000 Any other information the entity wishes to provide about the +securities to be quoted The purpose(s) for which the entity is issuing the securities Other Please provide additional details Free attaching options issued as part of the issue of the Convertible Notes as announced on 15 March 2023 and broker options. Application for quotation of +securities 5/7 Application for quotation of +securities Part 4 - Issued capital following quotation Following the quotation of the +securities the subject of this application, the issued capital 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 on ASX following the +quotation of the +securities subject of this application) Total number of +securities on issue ASX +security code and description ADD : ORDINARY FULLY PAID 519,543,000 New class - code to be confirmed : Options exercisable at $0.03 each expiring 31 December 2025 78,334,160 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 ADDAAD : OPTION EXPIRING 22-SEP-2023 EX $0.03 98,325,014 ADDAAE : OPTION EXPIRING 03-AUG-2025 EX $0.03 5,000,000 ADDAAA : OPTION EXPIRING 13-JAN-2025 EX $0.15 9,000,000 ADDAAB : PERFORMANCE RIGHTS 17,000,000 ADDAAG : CONVERTIBLE NOTES Application for quotation of +securities 200 6/7 Application for quotation of +securities Part 5 - Other Listing Rule requirements 5.1 Are the +securities being issued under an exception in Listing Rule 7.2 and therefore the issue does 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? Yes 5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 3/5/2023 Application for quotation of +securities 7/7