Target Market Determination

Made by: Magnum Mining and Exploration Limited (ACN 003 170 376) (Company).

Product: up to 437,500,000 Placement Options in connection with the Placement Options Offer, 90,000,000 Joint Lead Manager Options in connection with the Joint Lead Manager Offer, 12,750,000 Broker Options in connection with the Broker Options Offer and 90,000,000 Director Options in connection with the Director Options Offer under a prospectus dated Tuesday, 13 January 2026 (Prospectus).

Effective date: Tuesday, 13 January 2026

This target market determination (TMD) has been prepared by the Company in respect to offers of Options (exercisable at $0.015 and expiring on the date that is three (3) years from the date of issue).

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Target Market Determination