Announcement PDF Appendix 2A - Application for quotation of securities Appendix 2A - Application for quotation of securities 1 / 6 Announcement Summary Entity name WIN METALS LTD Announcement Type New announcement Date of this announcement Monday December 22, 2025 The +securities to be quoted are: Total number of +securities to be quoted ASX +security code Security description Number of +securities to be quoted Issue date WIN ORDINARY FULLY PAID 7,684,500 22/12/2025 Refer to next page for full details of the announcement +Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities being converted Appendix 2A - Application for quotation of securities Appendix 2A - Application for quotation of securities 2 / 6 Part 1 - Entity and announcement details 1.1 Name of entity WIN METALS LTD 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 ACN Registration number 648687094 1.3 ASX issuer code WIN 1.4 The announcement is 1.5 Date of this announcement 22/12/2025 New announcement Appendix 2A - Application for quotation of securities Appendix 2A - Application for quotation of securities 3 / 6 Part 2 - Type of Issue 2.1 The +securities to be quoted are: 2.2 The +class of +securities to be quoted is: Additional +securities in a class that is already quoted on ASX ("existing class") +Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities being converted Appendix 2A - Application for quotation of securities Appendix 2A - Application for quotation of securities 4 / 6 Part 3B - number and type of +securities to be quoted (existing class) where issue has not previously been notified to ASX in an Appendix 3B Existing +securities converting into additional +securities in an existing class FROM (Existing Class) ASX +security code and description WINAY : PERFORMANCE RIGHTS TO (Existing Class) ASX +security code and description WIN : ORDINARY FULLY PAID Please state the number of options that were exercised or other +convertible securities that were converted 7,684,500 The first date the options were exercised or other +convertible securities were converted 22/12/2025 The last date the options were exercised or other +convertible securities were converted 22/12/2025 Is this all of the options or other +convertible securities on issue of that type (ie have all of those options now been exercised or have all of those convertible securities now been converted)? The right of the holder of the options or other +convertible securities to receive the +underlying securities is being satisfied by: The underlying +securities being received by the holder are: Were the options being exercised or other +convertible securities being converted issued under an +employee incentive scheme? Are any of the options being exercised or other +convertible securities being converted held by +key management personnel (KMP) or an +associate? Provide details of the KMP or +associates who are exercising options or converting convertible securities Name of KMP Name of registered holder Number of options being exercised or other +convertible securities being converted Steve Norregaard Ivymax Pty Ltd ATF Norregaard Family Trust 7,684,500 Issue date 22/12/2025 Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class? Yes Yes Yes Intended to be, but are not yet, quoted by ASX An issue of new +securities No Appendix 2A - Application for quotation of securities Appendix 2A - Application for quotation of securities 5 / 6 Issue details Number of +securities to be quoted 7,684,500 Are the +securities being issued for a cash consideration? Please describe the consideration being provided for the +securities Nil consideration - Performance Rights issued as a Short Term Incentive (STI) under the Company's Equity Incentive Plan Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted 0.031000 Any other information the entity wishes to provide about the +securities to be quoted Exercise of vested performance rights issued as a Short Term Incentive (STI) under the Company's equity incentive plan 2024/2025 STI award to executive director and employees. Issue to director, Steve Norregaard issued pursuant to shareholder approval received at the Company's Annual General Meeting held on 28 November 2024. Performance Rights were vested following the Board's determination and assessment of whether the vesting criteria had been satisfied. No No Appendix 2A - Application for quotation of securities Appendix 2A - Application for quotation of securities 6 / 6 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: 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 quoted on ASX following the +quotation of the +securities subject of this application) ASX +security code and description Total number of +securities on issue WIN : ORDINARY FULLY PAID 857,091,636 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 WINAW : OPTION EXPIRING 31-MAY-2028 EX $0.04 20,626,303 WINAAC : OPTION EXPIRING 28-NOV-2027 EX $0.04 71,132,291 WINAH : OPTION EXPIRING 30-SEP-2030 EX $0.057 1,694,000 WINAR : OPTION EXPIRING 30-OCT-2027 EX $0.23 184,334 WINAS : OPTION EXPIRING 30-OCT-2028 EX $0.29 184,333 WINAT : OPTION EXPIRING 30-OCT-2029 EX $0.35 184,333 WINAY : PERFORMANCE RIGHTS 12,353,000 WINAZ : OPTION EXPIRING 30-SEP-2028 EX $0.036 16,574,840 WINAAA : OPTION EXPIRING 30-SEP-2029 EX $0.045 17,980,840 WINAAB : OPTION EXPIRING 30-SEP-2030 EX $0.055 16,574,838 WINAX : OPTION EXPIRING 30-APR-2026 EX $0.044 84,574,989