Announcement PDF Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Announcement Summary Entity name HILLGROVE RESOURCES LIMITED Date of this announcement Monday July 03, 2023 The +securities the subject of this notification are: +Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends Total number of +securities to be issued/transferred ASX +security code Security description HGOAA PERFORMANCE RIGHTS Refer to next page for full details of the announcement Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 1/6 Total number of +securities to be issued/transferred Issue date 15,000,000 03/07/2023 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Part 1 - Entity and announcement details 1.1 Name of entity HILLGROVE RESOURCES LIMITED 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 ABN 73004297116 1.3 ASX issuer code HGO 1.4 The announcement is New announcement 1.5 Date of this announcement 3/7/2023 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 2/6 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: +Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends 2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which: has an existing ASX security code ("existing class") Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 3/6 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Part 3B - number and type of +securities the subject of this notification (existing class) where issue has not previously been notified to ASX in an Appendix 3B Additional +securities in an existing class issued under an +employee incentive scheme ASX +security code and description HGOAA : PERFORMANCE RIGHTS Date the +securities the subject of this notification were issued 3/7/2023 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class Yes Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes Provide details of the KMP or +associates being issued +securities. Name of KMP Name of registered holder Number of +securities Lachlan Wallace Lachlan Wallace 5,000,000 Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms https://announcements.asx.com.au/asxpdf/20230328/pdf/45n30nk8hrcn0r.pdf Any other information the entity wishes to provide about the +securities the subject of this notification Issue details Number of +securities 15,000,000 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 4/6 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 application, the +securities 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) Total number of +securities on issue ASX +security code and description HGO : ORDINARY FULLY PAID 1,911,971,009 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 HGOAA : PERFORMANCE RIGHTS 47,000,000 HGOAY : OPTION EXPIRING 30-SEP-2024 EX $0.078 20,000,000 HGOAW : OPTION EXPIRING 14-MAY-2025 EX $0.10 8,000,000 HGOAX : OPTION EXPIRING 14-MAY-2026 EX $0.15 6,000,000 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 5/6 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 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 6/6