Rights Entitlement Offers Underwritten to $1.6M

GTI Energy Ltd (GTI or Company) advises it has today lodged a supplementary prospectus (Supplementary Prospectus) intended to be read with the prospectus dated 24 July 2024 (Prospectus) for the purposes of:

(a) reducing the issue price of New Shares offered under the Entitlements Issue Offer to $0.004 per New Share; and

(b) increasing the issue price of New Options offered under the Priority Option Offer to $ 0.001.

The changes have been made to comply with Listing Rule 7.11.2 so that the fraction of the issue price of New Shares and New Options complies with the price steps set out under the ASX Operating Rules.

Shareholders will be offered the opportunity to participate in a non-renounceable pro-rata rights entitlement offer of one (1) new share for every five (5) existing Shares, held by those Shareholders registered at the relevant record date, at an issue price of $0.004 per New Share to raise up to $2,039,957.67 (before costs), together with one (1) free attaching new option for every three (3) New Shares subscribed for and issued (Entitlement Issue Offer). Each new option will have an exercise price of $0.01 and entitle the holder to subscribe for one (1) new share before their expiry at 5:00 pm (WST), four (4) years from their date of issue (New Option).

Shareholders will also be invited to apply for additional New Shares under the Shortfall Offer which will be allocated at the Company’s discretion in conjunction with the Lead Manager.

In addition, existing GTRO option holders will be offered one (1) New Option for every four (4) GTRO Options, owned on the relevant record date, at an issue price of $0.001 per New Option to raise up to $115,596.79 (Priority Option Offer), with the issue of New Options under the Priority Option Offer subject to shareholder approval (the Entitlements Issue Offer and Priority Option Offer are together the Entitlement Offers).

Further details with respect to the Entitlement Offers are set out in the prospectus dated 24 July 2024 and subsequent Supplementary Prospectus lodged with ASIC and ASX today (Prospectus). The Prospectus also contains additional offers for options that are free attaching to placement shares (the placement having been announced on 19 June 2024) and options to be issued to CPS Capital Group Pty Ltd (CPS) which has acted as lead manager to the Entitlement Offers and Placement.

CPS has also agreed to partially underwrite the Entitlement Offers to $1,600,000.

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