Invitation To Participate In Share Purchase Plan

Aura Energy Limited (ASX: AEE, AIM: AURA) (“Aura” or “the Company”) On 3 May 2023, Aura Energy Limited (ACN 115 927 681) (Aura or the Company) announced that it had received firm commitments for a placement of 54,054,055 fully paid ordinary shares (Shares) at a price of $0.185 per Share to sophisticated, institutional and professional investors, raising approximately $10 million (Placement).

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The Placement completed and Shares were quoted on ASX on 10 May 2023 under the Company’s placement capacity pursuant to ASX Listing Rule 7.1.

In order to provide Eligible Shareholders (defined below) with the ability to participate in the Company’s capital raising activities, the Company is pleased to provide details of a Share Purchase Plan (Plan).

Under the Plan, Eligible Shareholders will have the opportunity to purchase up to $30,000 worth of Shares at the same price as the Placement, irrespective of the size of their shareholding, without incurring brokerage or transaction costs.

The offer under the Plan (Offer) will raise a maximum of $1,000,000 on the terms and conditions (Terms and Conditions) contained in this letter. The Company may elect to accept additional subscriptions or alternatively close the Offer early and/or scale back applications.

Shareholders Eligible to Participate in the Plan

Participation under the Plan is optional and is available exclusively to shareholders of the Company who are registered as holders of Shares at 5:00pm (AEST) on 2 May 2023 (Record Date) and whose registered address is in Australia, New Zealand or United Kingdom (Eligible Shareholders).

Share Purchase Plan

The Plan entitles Eligible Shareholders, irrespective of the size of their shareholding, to purchase up to $30,000 worth of Shares at an issue price of $0.185 (Price) being the same price as the Shares offered to sophisticated and professional investors under the Placement. The Price represents a discount of 23.6% to $0.242 (being the volume weighted average market price (VWAP) of the Shares over the last five trading days on which sales in the Shares were recorded before the day on which the Plan was announced.

The Company has applied to ASX for a waiver of ASX Listing Rules 7.1 and 10.11 to permit the Company to offer shares under the SPP at an issue price of $0.185 per share (Waiver), which is a 23.6% discount to the 5-day volume weighted average price of A$0.242. In the event that the Waiver is not granted, the Company intends to utilise its available placement capacity under ASX Listing Rule 7.1 for the issue of SPP Shares and seek shareholder approval to issue SPP Shares to Directors who are participating in the SPP.

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