Ann: Controlled Placement Agreement Established, page-4

Quote Highlights:
• Controlled Placement Agreement (CPA) entered into with Acuity Capital.
• CPA provides Lakes Oil with standby equity capital of up to $10 million
• Lakes Oil controls if and when the CPA is utilised and the size and value of any
placement.
Lakes Oil NL (Lakes Oil, ASX:LKO) is pleased to announce that it has entered into a
Controlled Placement Agreement (CPA) with Acuity Capital. The CPA will provide Lakes
Oil with up to $10 million of standby equity capital for the period to 31 January 2022. end of quote