Announcement PDF Proposed issue of securities Announcement Summary Entity name ESTRELLA RESOURCES LIMITED Announcement Type New announcement Date of this announcement 11/2/2022 The Proposed issue is: A placement or other type of issue Total number of +securities proposed to be issued for a placement or other type of issue Maximum Number of +securities to be issued ASX +security code +Security description ESRAAC OPTION EXPIRING 21-JAN-2025 EX $0.06 Proposed +issue date 15/3/2022 Refer to next page for full details of the announcement Proposed issue of securities 1/5 11,750,000 Proposed issue of securities Part 1 - Entity and announcement details 1.1 Name of +Entity ESTRELLA RESOURCES 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 ABN 39151155207 1.3 ASX issuer code ESR 1.4 The announcement is New announcement 1.5 Date of this announcement 11/2/2022 1.6 The Proposed issue is: A placement or other type of issue Proposed issue of securities 2/5 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 15/3/2022 Is the date estimated or actual? Actual Comments 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? No Details of +securities proposed to be issued ASX +security code and description ESRAAC : OPTION EXPIRING 21-JAN-2025 EX $0.06 Number of +securities proposed to be issued 11,750,000 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 Proposed issue of securities 3/5 ** Approval received/condition met? No Proposed issue of securities Please describe the consideration being provided for the +securities Incentive Options to be issued to Directors and a Consultant as a form of cost effective consideration for ongoing commitment and contribution to the Company. Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 0.016000 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes Part 7C - Timetable 7C.1 Proposed +issue date 15/3/2022 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? Yes 7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 15/3/2022 7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Yes 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? No 7E.2 Is the proposed issue to be underwritten? Proposed issue of securities 4/5 Proposed issue of securities 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 Incentive Options to be issued to Directors and a Consultant as a form of cost effective consideration for ongoing commitment and contribution to the Company. 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 Options vest upon the earlier of 12 months from the date of issue, upon a Change of control event or if the market capitalisation of the Company reaches $150,000,000 for 5 consecutive trading days. Proposed issue of securities 5/5