Pilbara Minerals : Notification regarding unquoted securities - PLS

Notification of Issue, Conversion or Payment up of Unquoted Equity SecuritiesAnnouncement Summary

Entity name

For personal use only

PILBARA MINERALS LIMITED

Date of this announcement Tuesday April 19, 2022

The +securities the subject of this notification are:Other

Total number of +securities to be issued/transferredASX +securityTotal number of +securities to be

code	Security description	issued/transferred	Issue date
New class - code	5-year convertible bonds	79,603,050	13/04/2022
to be confirmed

Refer to next page for full details of the announcementNotification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Notification of Issue, Conversion or Payment up of Unquoted Equity SecuritiesPart 1 - Entity and announcement details

For personal use only

1.1 Name of entity

PILBARA MINERALS 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 ABN

1.3 ASX issuer code PLS

1.4 The announcement isNew announcement

1.5 Date of this announcement 19/4/2022

Registration number 95112425788

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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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

For personal use only

Please specify 5-year convertible bonds, as announced in Appendix 3B, dated 13 April 2022.

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")

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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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) where issue has not previously been notified to ASX in an Appendix 3B

For personal use only

New +securities

ASX +security code

New class - code to be confirmed

+Security description5-year convertible bonds

+Security type

ISIN code

+Convertible debt securities

Date the +securities the subject of this notification were issued 13/4/2022

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://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02509144-6A1086181?access_token=83ff96335c2d45a094df02a206a39ff4

+Convertible debt securities Details

Type of +security Convertible note or bond

+Security currency AUD - Australian DollarFace value AUD 1.00000000

Interest rate type Variable rateFrequency of coupon/interest payments per year Quarterly

First interest payment date 30/6/2022

s128F of the Income Tax Assessment Act status applicable to the +security Not applicable

Is the +security perpetual (i.e. no maturity)?

No

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Maturity date

13/4/2027

Select other feature(s) applicable to the +security

Redeemable

For personal use only

Is there a first trigger date on which a right of conversion, redemption, call or put can be exercised (whichever is first)?

No

Details of the existing class of +security that will be issued if the securities are converted, transformed or exchanged

Other

Description

PLS: Ordinary Fully Paid

Any other information the entity wishes to provide about the +securities the subject of this notification

The number of ordinary securities to be issued on conversion of the convertible securities will be based upon the lessor of the 30 day VWAP or 5-day VWAP of PLS shares 2 days prior to conversion notice, less a 7.5% discount. The number of ordinary securities included in items 5.2b.1 of this Appendix 3G is therefore variable and may change.

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

Securities were previously announced to the market in an Appendix 3B, dated 13 April 2022.

Issue details

Number of +securities

79,603,050

Were the +securities issued for a cash consideration?

Yes

In what currency was the cash consideration being paid?

What was the issue price per +security?

AUD - Australian Dollar

AUD 1.00000000

Purpose of the issue Other

Additional Details

PLS's equity participation in the POSCO JV will be funded from the 5-year convertible bondNotification of Issue, Conversion or Payment up of Unquoted Equity Securities

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