Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Announcement Summary Entity name VICTORY METALS LIMITED Date of this announcement Friday July 07, 2023 The +securities the subject of this notification are: +Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX Total number of +securities to be issued/transferred ASX +security code Security description VTMAO OPTION EXPIRING 11-NOV-2024 EX $0.30 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 4,166,667 07/07/2023 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Part 1 - Entity and announcement details 1.1 Name of entity VICTORY METALS 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 ACN 124279750 1.3 ASX issuer code VTM 1.4 The announcement is New announcement 1.5 Date of this announcement 7/7/2023 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 as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX Previous Appendix 3B details: Announcement Date and Time Announcement Title Selected Appendix 3B to submit quotation request 10-May-2023 09:42 New - Proposed issue of securities VTM A placement or other type of issue 2.3a.2 Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B? No 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 3A - number and type of +securities the subject of this notification (existing class or new class) where issue has previously been notified to ASX in an Appendix 3B Placement Details ASX +security code and description VTMAO : OPTION EXPIRING 11-NOV-2024 EX $0.30 Date the +securities the subject of this notification were issued 7/7/2023 Any other information the entity wishes to provide about the +securities the subject of this notification Issue details Number of +securities 4,166,667 Were the +securities issued for a cash consideration? No Please describe the consideration being provided for the +securities Refer to ASX announcement dated 10 May 2023. 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 VTM : ORDINARY FULLY PAID 66,556,697 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 VTMAC : ORDINARY FULLY PAID RESTRICTED 9,672,646 VTMAF : OPTION EXPIRING 20-JUL-2023 EX $0.20 594,776 VTMAG : OPTION EXPIRING 31-DEC-2022 RESTRICTED 296,382 VTMAH : OPTION EXPIRING 20-JUL-2023 RESTRICTED 3,883,862 VTMAI : OPTION EXPIRING 16-JUL-2024 RESTRICTED 1,533,334 VTMAJ : OPTION EXPIRING 16-JUL-2024 RESTRICTED 1,533,333 VTMAK : OPTION EXPIRING 16-JUL-2024 RESTRICTED 1,533,333 VTMAL : PERFORMANCE SHARES 476,348 VTMAM : PERFORMANCE SHARES RESTRICTED 4,227,118 VTMAQ : OPTION EXPIRING 28-MAR-2025 EX $0.30 66,666 VTMAO : OPTION EXPIRING 11-NOV-2024 EX $0.30 9,166,667 VTMAP : PERFORMANCE RIGHTS Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 500,000 5/6 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 6/6