ROX RESOURCES LIMITED

ASX:RXLMaterials

1.39B shares on issueASX (delayed) · snapshot 11 Sept 20261.43B fully diluted+2.5% if every option and right converts$0.64price · delayed$885.0Mmarket cap · indicative

Today’s holders own 97.6% of what they think they own, once every option and right converts.

High

Dilution risk

Share count grew 240% in 24 months; runway 2–4 quarters; 5 cash raises in 24 months

Absolute levels — not a ranking against other companies.

Cash runway2.6 quarters of funding

Share-count growth (24m)240.5%

Raise cadence (24m)5 cash raises

Options & rights overhang2.5% of shares

In-the-money supplyno data — no exercise price on record

Pending proposed issuesopen proposed issue (Appendix 3B)

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2.5%

Options & rights overhang

—

In-the-money supply · no stated strikes

Raises · last 12 months

2.6 qtrs

Cash cover · 2–4 quarters

Shares on issue — last 2 years

Ordinary shares on issue

Weekly counts from ASX records. Dots mark cash capital raises. Latest count 1.39B per ASX (delayed) (snapshot 11 Sept 2026).

Cash runway

2.6 qtrs

Two to four quarters of funding at the recent spend rate.

Funds operations to about Feb 2027 at the reported spend rate.

$115.7M cash after burn from the quarter ended 30 June 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds. Filed with the quarterly report: $152.7M cash at quarter end (item 4.6), 23.6 qtrs of funding on the company’s own estimate. Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.

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11 quarters on record — Cash runway history

Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 30 June 2026.

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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

Date	Form	Security	On issue, per this filing	Source
7 Sept 2026	3G · unquoted	ORDINARY FULLY PAID	1.39B	Appendix 3G
27 Aug 2026	2A · quoted issue	RXL : ORDINARY FULLY PAID	1.39B	Appendix 2A
10 Aug 2026	2A · quoted issue	RXL : ORDINARY FULLY PAID	1.39B	Appendix 2A
28 July 2026	2A · quoted issue	RXL : ORDINARY FULLY PAID	1.39B	Appendix 2A
28 July 2026	3H · cancellation	RXL : ORDINARY FULLY PAID	1.39B	Appendix 3H

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91 filings on record — Full issuance history

Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).

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Capital raises

5 cash raises in the last 24 months · 1 in the last 12 months

every 3 monthsaverage gap between raises

10 monthssince the most recent

8 Nov 2024 – 12 Nov 2025first to most recent in this window

$219.0M

Placement (two-tranche) + Share Purchase Plan

12 Nov 2025 COMPLETE

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8 raises on record — Full raise history

Issue price, shares issued, brokers and stated purpose for every raise on record.

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Forward supply

Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.

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1 dated event on record — Forward supply calendar

Option expiries and proposed issues on one forward timeline, with the securities each could add.

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Placement capacity

How much stock a company can place without asking holders. Listing Rule 7.1 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.

No estimate — the only Appendix 3B in the window claiming the 15% capacity states more than the whole allowance, so it cannot be counted.

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Placement capacity — LR 7.1 / 7.1A

The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.

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Pending proposed issues

1 proposed issue pending — Appendix 3B lodged, securities not yet issued. New shares from these issues are not in the counts above until quoted.

Paid plan

1 pending issue on record — Pending issue detail

Size, price, fees, broker and placement-capacity usage for each pending issue.

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Options & convertible securities

2.5%

Options & rights overhang · of current shares

—

In-the-money supply · no stated strikes

35.0M

Potential new shares

—

Nearest expiry

What a price move would switch on

No option supply on record carries an exercise price to pay, so no share price switches any of it on. All 35.0M of it converts on something else — a hurdle that may never be met, or terms the filing does not price.

Code	Security	Type	Exercise price	Expiry	On issue	Source
RXLAC	Performance rights	Condition-triggered	—	—	35.0M	Filing Meeting

“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column.

A condition-triggered class has no exercise price and usually no expiry: what it vests on is set by a shareholder resolution, not by the register. Where the company lodged a notice of meeting before the class first appears here, it is linked as “Meeting” — that is where terms of this kind are put to shareholders. It is not confirmation that the document sets this class’s conditions, and no link appears where there is no such filing.

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1 option line on record — In-the-money value & price ladder

What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.

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Director dealings

Date	Director	Type	Shares	Options	Other	Value	Source
29 July 2026	Mr Phillip Wilding	Other incentive	1.5M	—	—	—	3Y notice
29 July 2026	Mr Stephen Dennis	Other incentive	500k	—	500k	—	3Y notice
5 May 2026	Mr Nathan Stoitis	Other incentive	500k	—	500k	—	3Y notice