AKORA Resources

Exercise your full entitlement and apply for additional New Shares from the Shortfall. Shortfall shares are available only to eligible shareholders who take up their entitlement in full, subject to Directors' discretion.

Take Up in Full and Apply for Shortfall

Exercise your full 1 for 9 entitlement and subscribe for all New Shares at $0.08 each.

Take Up in Full

Exercise your entitlement in part and subscribe for some but not all of your New Shares.

Take Up in Part

Allow your entitlement to lapse. You will not receive any value for your entitlement and your holding will be diluted from the issue of New Shares under the Rights Issue, including pursuant to the Shortfall.

Take No Action

Essential permitting and other mine development activities as required under the newly granted mining permit (as announced 4 March 2026).

 Mine Development

Progressing project financing and strategic partner discussions to achieve an optimal outcome, formally initiated by financial advisor Grant Samuel.

Project Financing and Strategic Partnering

Continued community engagement initiatives.

Community Engagement

General Working Capital

Entitlement Offer Booklet

Equity Raise Announcement

Corporate Update 4 May 2026

Non-renounceable Entitlement Offer

Placement $1.6m + Entitlement Offer $1.7m = Total = $3.3m

Offer Price Per Share

$0.08 

Entitlement Ratio

1:9 

Offer Closes AEST

5 Jun

Capital Raise

Research

Updates

Share Price

Annual Reports

Presentations

Announcements

Inter

All dates are indicative only and subject to change. All times and dates refer to Melbourne, Australia. Subject to the requirements of the Corporations Act 2001 (Cth), the ASX Listing Rules and any other applicable laws, the Company reserves the right to withdraw or vary the timetable without notice.

AKORA Resources Limited (ASX: AKO) is pleased to announce it has launched an equity raising of approximately $3.3 million comprising a placement of fully paid ordinary shares to sophisticated investors to raise approximately $1.6 million, and a pro-rata non-renounceable 1 for 9 entitlement offer of fully paid ordinary shares to eligible shareholders to raise a further approximately $1.7 million.

The Entitlement Offer is open to eligible shareholders whose registered address is in Australia or New Zealand on the Record Date (7:00 pm Melbourne time, 12 May 2026).

Entitlements are non-renounceable and will not be tradeable on the ASX or otherwise transferable. Shareholders who do not take up their entitlements will not receive any value in respect of those entitlements and their holding will be diluted.

Eligible shareholders will also have the ability to apply for additional New Shares in excess of their entitlement. The Shortfall Offer will only be available over those shares not subscribed for by other eligible shareholders under the Entitlement Offer and at the Offer Price. The Directors reserve full discretion as to the allocation of additional New Shares under the Shortfall Offer. If applications received are less than the number of New Shares available, the Directors reserve the right to place the shortfall at their discretion within 3 months of close of the Entitlement Offer.

Placement participants will be eligible to participate in the Entitlement Offer in respect of any New Shares issued to them under the Placement. There are no lead managers to the Equity Raising.

The funds raised under the Equity Raising will be used by the Company for the following:

An Entitlement Offer Booklet was sent to eligible shareholders on 15 May 2026, together with a personalised Entitlement and Acceptance Form. A copy of the Offer Booklet was lodged with ASX on 15 May 2026. All applications and payments must be submitted to the Registry.

Shareholders are encouraged to read both the Offer Booklet and the Corporate Update carefully and, if required, obtain independent professional investment advice prior to making any investment decision.

 Your acceptance of the Entitlement Offer and/or the Shortfall Offer will be evidenced from monies received from you using the personalised payment details noted on the Entitlement and Acceptance Form accompanying the Offer Document.

 You can access the offer digitally from 15 May 2026. You will need your HIN or SRN to confirm your shareholder details with the registry. Please contact AKORA’s share registry, MUFG Corporate Markets, on 1300 554 474 between 8.30am and 5:30pm (Sydney time), Monday to Friday.

 Entitlement Offer Booklet · PDF · 15 May 2026 Equity Raise Announcement · PDF · 4 May 2026 Corporate Update · PDF · 4 May 2026

This page has been prepared by AKORA Resources Limited (ACN 139 847 555) (ASX: AKO) for general informational purposes only. It is not a prospectus, product disclosure statement or offer document and does not constitute financial product advice. Shareholders are encouraged to read the Offer Booklet and Corporate Update carefully and, if required, obtain independent professional investment advice prior to making any investment decision. Investment in securities involves risk. All amounts are in Australian dollars. All dates are indicative only and subject to change. Subject to the requirements of the Corporations Act 2001 (Cth) and the ASX Listing Rules.

Investor documents available for download.

AKORA Resources is inviting eligible shareholders to participate in a 1 for 9 Pro-Rata Non-Renounceable Entitlement Offer to invest in the next phase of the Bekisopa Iron Ore Project in Madagascar, now backed by a granted Mining Permit.

KEY DATES