Ann: Underwritten Share Purchase Plan, page-2

Underwritten Share Purchase Plan 05 June 2017 Perth-based African-focussed energy metals developer Walkabout Resources Ltd (ASX: WKT) (Walkabout or Company) is pleased to announce a Share Purchase Plan (SPP) to raise up to $1,25m to advance the Lindi Jumbo Graphite Project and for general working capital. The SPP is to be fully underwritten by Patersons Securities Limited (Patersons) which is acting as Lead Manager and Underwriter to the offer. The New Shares (as defined below) will be issued at a 20% discount to the 5 day VWAP trading price at the time of issue of the New Shares and will be offered to Eligible Shareholders (as defined below) free of brokerage and fees. Shares issued under the Underwriting Agreement will be issued from the Company’s 15% capacity. Funds raised under the SPP will be used to progress development of the Lindi Jumbo Graphite Project in south eastern Tanzania. The Company has recently announced the results of a Definitive Feasibility Study (DFS) and is in the process of raising development capital for the Project. The announcement of the results of the highly robust DFS can be found in the ASX Announcement dated 7 February 2017. The Project is being fast-tracked to development and the Company is currently engaged in discussions with multiple parties regarding project funding and product sales and marketing. The Company believes the high grade and premium natural graphite flake size has the potential to deliver a long term, low capex, high yield graphite mining operation supplying markets in Europe and China with expandable and other premium graphite products. The SPP provides the opportunity for eligible shareholders to subscribe for up to $15,000 worth of New Shares without incurring brokerage or other transaction costs. The Company will offer eligible shareholders who are registered holders of ordinary fully paid shares (Shares) in Australia or New Zealand (Eligible Shareholders) at 5pm (WST) on Friday, 2 June 2017 (Record Date) the opportunity to apply for new Shares (New Shares) in the Company (Offer) under the SPP (the Plan). The Directors of the Company will participate in the Share Purchase Plan. Additionally, the Company has agreed to grant Patersons the right to facilitate an offer of New Shares to be issued at the same price as those under the Plan (Top Up Placement). The maximum number of New Shares that may be issued under the Top Up Placement will be equal to the Company’s remaining placement capacity on completion of the Offer. Existing shareholders may also request to participate in the Top Up Placement. Current available capacity is 17,711,754 shares. Executive Chairman of Walkabout, Mr Trevor Benson commented; “The executive team is particularly focussed on negotiating a pathway to funding for the Lindi Jumbo Project. We are making excellent progress with this and driving the Project to the commencement of development. The funds raised through this SPP and associated placement will 2 | P a g e ensure the Project does not lose momentum and we are able to continue with our fund raising and marketing endeavours. We encourage shareholders to participate.” Full details of the SPP will be contained in an offer document which is scheduled to be dispatched to Eligible Shareholders on or around 7 June 2017. The proposed timetable for the SPP is set out below, however Directors reserve the right to vary the dates and times without notice.