Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities Announcement Summary Entity name WESTERN MINES GROUP LTD Date of this announcement Thursday May 02, 2024 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 Total number of +securities to be issued/transferred Issue date 250,000 02/05/2024 Unlisted Employee Share Options Refer to next page for full details of the announcement Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 1/7 Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities Part 1 - Entity and announcement details 1.1 Name of entity WESTERN MINES GROUP LTD 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 640738834 1.3 ASX issuer code WMG 1.4 The announcement is New announcement 1.5 Date of this announcement 2/5/2024 Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 2/7 Appendix 3G - 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 Unlisted Employee Share Options 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") Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 3/7 Appendix 3G - 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) New +securities ASX +security code +Security description New class - code to be confirmed Unlisted Employee Share Options +Security type ISIN code Options Date the +securities the subject of this notification were issued 2/5/2024 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. https://wcsecure.weblink.com.au/pdf/WMG/02802796.pdf Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.30000000 4/4/2028 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option WMG : ORDINARY FULLY PAID Any other information the entity wishes to provide about the +securities the subject of this notification 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 In recognition of past performance and incentive for future performance, pursuant to the Company's Employee Share Options Plan. Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 4/7 Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities Issue details Number of +securities 250,000 Were the +securities issued for a cash consideration? No Please describe the consideration being provided for the +securities Nil Purpose of the issue Other Additional Details Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 5/7 Appendix 3G - 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 notification, the +securities of the entity will comprise: The figures in parts 4.1 and 4.2 below are automatically generated and may not reflect the entity's current issued capital if other Appendix 2A, Appendix 3G or Appendix 3H forms are currently with ASX for processing. 4.1 Quoted +securities (Total number of each +class of +securities issued and quoted on ASX) ASX +security code and description Total number of +securities on issue WMG : ORDINARY FULLY PAID 75,083,182 4.2 Unquoted +securities (Total number of each +class of +securities issued but not quoted on ASX) ASX +security code and description Total number of +securities on issue WMGAF : OPTION EXPIRING 11-NOV-2024 EX $0.30 466,670 WMGAD : OPTION EXPIRING 15-JUL-2024 EX $0.30 1,750,000 WMGAE : OPTION EXPIRING 15-JUL-2025 EX $0.30 16,000,000 WMGAI : OPTION EXPIRING 21-FEB-2025 EX $0.30 500,000 WMGAN : OPTION EXPIRING 22-MAR-2027 EX $0.25 400,000 WMGAK : OPTION EXPIRING 15-JUL-2025 EX $0.30 1,000,000 WMGAL : OPTION EXPIRING 22-NOV-2026 EX $0.60 200,000 WMGAM : OPTION EXPIRING 13-APR-2026 EX $0.50 200,000 WMGAJ : PERFORMANCE RIGHTS New class - code to be confirmed : Unlisted Employee Share Options Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 2,300,000 250,000 6/7 Appendix 3G - 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? Yes 5.1a Select the number of the applicable exception in Listing Rule 7.2 13 Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 7/7