Aeris Capital Raising Details

Risk Factors (cont.) Native title and heritage risk We are Aeris The Native Title Act 1993 (Cth) recognises certain rights of indigenous Australians over land where those rights have not been extinguished. These rights, where they exist, may impact on the ability of the Company to carry out exploration and in future, mining activities, or obtain exploration or mining licences in Australia. In applying for licences over crown land, the Company must observe the provisions of Native Title legislation. There are also laws of the States and Territories which impose duties of care which require persons, including the Company, to take all reasonable and practical measures to avoid damaging or destroying Aboriginal cultural heritage. In carrying out exploration and/or mining operations, the Company must observe Native Title legislation (where applicable), Aboriginal heritage legislation and heritage legislation which protects sites and objects of significance and these may delay or impact adversely on the Company's operations in Australia. COVID-19 The global economic outlook is continuing to face some uncertainty in the aftermath of the COVID-19 pandemic, which has had a significant impact on global capital markets, commodity prices and foreign exchange rates. While the pandemic is no longer considered to be a Public Health Emergency of International Concern (PHEIC), the occurrence of new variants of the virus or an increased infection rates could lead to a suspension or disruption in the Company's operations for an unknown period of time. Although COVID-19 did not previously have any material impact on the Company's operations, any unforeseen disruptions to the Company's operations may adversely impact the financial condition of the Company. The Company may also continue to be effected by supply chain disruptions resulting from the COVID-19 pandemic, and the effects of measures implemented by governmental authorities around the world to limit the transmission of the virus (such as travel bans) may continue to adversely impact the Company's operations, financial position and prospects - albeit to a lesser extent than existed when the pandemic was considered to be a PHEIC. Risk of not taking up Entitlement Offer Entitlements cannot be traded on ASX or privately transferred. If eligible retail shareholders do not take up all or part of their available entitlements, individuals' percentage shareholding in Aeris will be diluted (in addition to the dilution which will take place as a result of the Placement). In addition, investors may have their investment diluted by future capital raisings by Aeris. Equity underwriting risk Aeris has entered into an Underwriting Agreement in respect of the Offer to which only the Underwriters and the Company are a party (refer to Appendix D. Prior to settlement of the Placement, there are certain events which, if they were to occur, may affect the obligations of the Underwriters and/or WHSP to underwrite the Offer. If certain conditions are not satisfied or certain events occur under the Underwriting Agreement, the Underwriters may terminate the Underwriting Agreement which may require Aeris to search for alternative financing. The ability of the Underwriters to terminate the Underwriting Agreement in respect of some events will depend (amongst other things) on whether the event has or is likely to have a material adverse effect on the success, settlement or marketing of the Offer, or could reasonably be expected to give rise to a contravention by, or liability for, the Underwriters under applicable law. If the Underwriting Agreement is terminated for any reason, then Aeris may not receive the full amount of the proceeds expected under the Offer, Aeris' financial position might change and it might need to take other steps to raise capital. Refer to Appendix D of this Presentation for a summary of the termination events set out in the Underwriting Agreement. 44 44

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