[Amend-1]Philex Mining Corporation: Stock Rights – Final Terms and Conditions

About this update from Philex Mining Corp.

NOTICE Subject Philex Mining Corporation: Stock Rights - Final Terms and Conditions Company Name Philex Mining Corporation Security Details Type of Security Stock Symbol Par Value Common Shares PX Php 1.00 Type of Transaction Stock Rights Offering Rights Shares Stock Symbol No. of Shares Rights Offer Price PX 842,000,000 Php 3.15 Rights Entitlement Ratio 1 Offer Share for every 5.8674 common shares owned Pricing Date (if applicable) Jun 23, 2022 Ex-Date Jun 24, 2022 Record Date Jun 29, 2022 Start of Rights' Offer Period Jul 12, 2022 End of Rights' Offer Period Jul 25, 2022 Payment Terms Full Payment Lead Underwriter(s) BDO Capital & Investment Corporation Other Parties to the Rights Offer Function Name of the Party Legal Advisor to the Company Migallos & Luna Law Legal Advisor to the Issue Manager and Underwriter Romulo Mabanta Buenaventura Sayoc & de los Angeles Stock Transfer Agent Stock Transfer Service, Inc. Receiving Agent Stock Transfer Service, Inc. External Auditor SyCip Gorres Velayo & Co. Corporate Website Hyperlink to the Prospectus http://www.philexmining.com.ph/sro/ Tentative Listing Date Aug 3, 2022 Other Relevant Information The Board of Directors of Philex Mining Corporation ("PX" or the "Company") approved the conduct of a Stock Rights Offering ("SRO") of common shares to be issued from the Company's unissued authorized capital stock. The Company intends to use the proceeds from the Stock Rights Offer for investment in Silangan Mindanao Mining Co., Inc. through Silangan Mindanao Exploration Co., Inc. for the capital expenditures and development cost of the Silangan Project. Please refer to the relevant disclosures of the Company on the following dates: 1. C07343-2021 dated November 4, 2021; 2. C00583-2022 dated February 2, 2022; and 3. C04603-2022 dated June 22, 2022. The Exchange approved the application of the Company for the listing of up to 842,000,000 common shares ("Right Shares"), with a par value of Php1.00 per share, to cover its SRO to all stockholders as of the proposed record date, at an Offer Price of Php 3.15 to Php 4.81 per Offer Share. The Exchange's approval of the listing of the Right Shares is subject to the Company's compliance with all applicable requirements and post-approval conditions of the Exchange. The Exchange will accordingly announce any developments on the Company's listing application. This ...

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