VIRIDIS MINING AND MINERALS LIMITED

ASX:VMMMaterials

161.1M shares on issueASX (delayed) · snapshot 11 Sept 2026168.3M fully diluted+4.5% if every option and right converts$3.65price · delayed$588.0Mmarket cap · indicative

Today’s holders own 95.7% of what they think they own, once every option and right converts.

Moderate

Dilution risk

Share count grew 144% in 24 months; 5 cash raises in 24 months; proposed issue pending

Absolute levels — not a ranking against other companies.

Cash runway17.9 quarters of funding

Share-count growth (24m)144.4%

Raise cadence (24m)5 cash raises

Options & rights overhang4.5% of shares

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

Pending proposed issuesopen proposed issue (Appendix 3B)

VIRIDIS MINING AND MINERALS LIMITED's ordinary share count grew 144.4% between August 2024 and August 2026, reaching 161M shares. In the past 24 months, the company conducted five capital raises totalling A$229.5M, with its most recent being a A$162.7M placement in August 2026. Options and rights on issue could convert into 7M new shares, representing 4.5% of the current share count, with none currently in the money. No filing on record states an expiry date for these securities. As of the June 2026 quarter, the company held A$175.2M in available cash, sufficient for approximately 17.9 quarters. Four proposed securities issues are pending, with the nearest expected in October 2026.

AI-generated summary of this page's cited filings · updated 11 Sept 2026

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4.5%

Options & rights overhang

—

In-the-money supply · no stated strikes

Raises · last 12 months

17.9 qtrs

Cash cover · over 4 quarters

Shares on issue — last 2 years

Ordinary shares on issue

Weekly counts from ASX records. Dots mark cash capital raises. Latest count 161.1M per ASX (delayed) (snapshot 11 Sept 2026).

Cash runway

17.9 qtrs

More than four quarters of funding at the recent spend rate.

More than three years of funding at the reported spend rate — far enough out that a dated estimate would be false precision.

$175.1M 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: $20.5M cash at quarter end (item 4.6), 3.2 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
31 Aug 2026	2A · quoted issue	VMM : ORDINARY FULLY PAID	161.1M	Appendix 2A
27 Aug 2026	2A · quoted issue	VMM : ORDINARY FULLY PAID	145.2M	Appendix 2A
26 Aug 2026	2A · quoted issue	VMM : ORDINARY FULLY PAID	143.3M	Appendix 2A
10 July 2026	3G · unquoted	VMM : ORDINARY FULLY PAID	130.2M	Appendix 3G
10 July 2026	3G · unquoted	ORDINARY FULLY PAID	130.2M	Appendix 3G

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47 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 · 3 in the last 12 months

every 3.7 monthsaverage gap between raises

0.8 monthssince the most recent

23 May 2025 – 20 Aug 2026first to most recent in this window

$162.7M

Placement

20 Aug 2026 ACTIVE

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10 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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4 dated events 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.

About 35% of the 15% placement capacity left — about 65% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). One filing in the window states more under 7.1 than the whole allowance and is not counted, so usage may be higher than this. Holder-approved issues and any later ratification are not deducted, so the true headroom can be higher.

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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

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

Paid plan

4 pending issues on record — Pending issue detail

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

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Options & convertible securities

4.5%

Options & rights overhang · of current shares

—

In-the-money supply · no stated strikes

7.2M

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 7.2M 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
VMMAI	Performance shares	Condition-triggered	—	—	2.5M	Filing Meeting
VMMAF	Performance rights	Condition-triggered	—	—	4.7M	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.

2 classes ceased in the last 12 months and are not counted above

The company’s own Appendix 2A restates each of these at zero. They are excluded from the overhang, the in-the-money supply and every figure on this page. Each count is the filing’s own count of securities in the class, not a share count — a 2A never states what one security converts into.

VMMAGPrice-triggered200k securities → 010 Apr 2026 Appendix 2A
VMMAEPrice-triggered2.0M securities → 022 Oct 2025 Appendix 2A

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2 option lines 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
10 July 2026	Geoffrey Ralph Bedford	Other incentive	—	—	150k	—	3Y notice
10 July 2026	Marcus Leonardo Silberman	Other incentive	5k	—	100k	—	3Y notice
2 July 2026	Agha Shahzad Pervez	Buy incentive	200k	—	—	—	3Y notice
2 July 2026	Jose Carlos Guedes Rosado	Buy incentive	50k	—	—	—	3Y notice
2 July 2026	Rafael Moreno	Buy incentive	200k	—	—	—	3Y notice