Announcement PDF Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 1 / 6 Update Summary Entity name VERTEX MINERALS LIMITED Announcement Type Update to previous announcement Date of this announcement 14/9/2026 Reason for update to a previous announcement Update estimated dates for holding shareholders meeting to approve proposed issue of securities (now 19 October 2026) and proposed issue date (now 26 October 2026). Lender may convert loan to shares and options. Increase shares to 22,860,955 (previously nil) including interest of 1,432,386 shares and VTXO options to 7,620,319 (previously nil) including interest of 477,461 VTXO options. The Company expects issuing the options under a prospectus, not cleansing statements Refer to next page for full details of the announcement Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 2 / 6 Part 1 - Entity and announcement details 1.1 Name of +Entity VERTEX 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 ABN Registration Number 68650116153 1.3 ASX issuer code VTX 1.4 The announcement is 1.4a Reason for update to a previous announcement Update estimated dates for holding shareholders meeting to approve proposed issue of securities (now 19 October 2026) and proposed issue date (now 26 October 2026). Lender may convert loan to shares and options. Increase shares to 22,860,955 (previously nil) including interest of 1,432,386 shares and VTXO options to 7,620,319 (previously nil) including interest of 477,461 VTXO options. The Company expects issuing the options under a prospectus, not cleansing statements 1.4b Date of previous announcement to this update 11/3/2026 1.5 Date of this announcement 14/9/2026 1.6 The Proposed issue is: A placement or other type of issue Update/amendment to previous announcement Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 3 / 6 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 19/10/2026 Is the date estimated or actual? ** Approval received/condition met? Comments Richsham Nominees PL (Lender) agreed to lend Company (Borrower) AUD1,500,000, 10-month term, interest AUD180,000 (fixed), AUD15,000 establishment fee (fixed), AUD15,000 completion fee (fixed). Specific security over Borrower Dun Dun exploration licence EL9868. Lender entitled to general security, if Lender reasonably considers that specific security is insufficient for future repayments. Lender may, with Borrower shareholder approval, elect to receive all or part of interest and fees by options. Each options deemed value is AUD0.03. Lender may elect to receive all the interest in cash, options (3,500,000 unlisted options, 1 share for 1 option, exercise price AUD0.20 expiring 15 December 2028 and 3,500,000 VTXO) or any combination. If Lender does not exercise right to receive options, interest and fees are payable in cash. Lender may elect, up to 10 days before the maturity date, to convert principal on same terms as any convertible note issued by Borrower. 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 VTXO : OPTION EXPIRING 17-JUL-2027 Number of +securities proposed to be issued 3,500,000 Offer price details Are the +securities proposed to be issued being issued for a cash No Existing class Estimated Yes Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 4 / 6 Are the +securities proposed to be issued being issued for a cash consideration? Please describe the consideration being provided for the +securities Options issued at the election of the Lender and after Company shareholder approval in lieu of cash payment for interest (3,000,000 options) and fees (500,000 options). Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 0.030000 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 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 VTXAN: OPTION EXPIRING 15-DEC-2028 EX $0.20 +Security type Options Number of +securities proposed to be issued 3,500,000 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 Options issued at the election of the Lender and after Company shareholder approval in lieu of cash payment for interest (3,000,000 options) and fees (500,000 options). Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities No No No No New class Yes No Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 5 / 6 provided for the +securities 0.030000 Will all the +securities issued in this class rank equally in all respects from their issue date? Options details +Security currency AUD - Australian Dollar Exercise price AUD 0.2000 Expiry date 15/12/2028 Details of the type of +security that will be issued if the option is exercised VTX : ORDINARY FULLY PAID Number of securities that will be issued if the option is exercised 1 for 1 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/trade-our-cash-market/announcements.vtx Part 7C - Timetable 7C.1 Proposed +issue date 26/10/2026 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 19/10/2026 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? Part 7E - Fees and expenses 7E.1 Will there be a lead manager or broker to the proposed issue? No No No Yes Yes Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 6 / 6 7E.1a Who is the lead manager/broker? Vert Capital Pty Ltd (ACN 635 566 424) ("Vert Capital") 7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker? Vert Capital will receive a fee of 6% plus GST on all funds raised. 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 Interest is AUD180,000. The Lender is also entitled to an establishment fee (AUD15,000) and completion fee (AUD15,000). The Lender may, subject to Company shareholder approval, elect to receive all or part of the interest and fees by options. Part 7F - Further Information 7F.01 The purpose(s) for which the entity is issuing the securities For AUD1,500,000 loan facility, interest AUD180,000, establishment fee AUD15,000 and completion fee AUD15,000. Subject to Company shareholder approval, Lender may elect to receive all or part of the interest and fees by options. 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 The issue of the equity securities is conditional upon the Lender converting the relevant outstanding principal plus accrued interest. The numbers of equity securities proposed to be issued are based on the lesser of the Company share price and 5-day VWAP at the date of this Appendix 3B (A$0.14). The Conversion Price and the resulting number of equity securities proposed to be issued may change. Assumed share Conversion Price is A$0.07. For every three (3) Shares subscribed for under the Convertible Loans, the Lender will receive one (1) attaching option for no additional consideration, each with an exercise price of A$0.15 expiring 17 July 2027 (on the same terms as the existing listed VTXO options) ("Offer Options"). The proposed number of shares and options disclosed is calculated by reference to the relevant outstanding principal plus accrued interest as at the assumed maturity date of 26 October 2026. To the extent any maturity date is extended, additional interest will accrue and the number of shares and options issued on conversion will increase accordingly. 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 +disclosure document or +PDS for the +securities proposed to be issued No No Yes