HRL : Issue of Securities Appendix 3B

Proposed issue of securities

Announcement Summary

Entity name

HRL HOLDINGS LTD

Announcement Type

New announcement

Date of this announcement

Friday October 23, 2020

The Proposed issue is:

A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
n/a	Performance Rights Expiring 2023	4,088,723

Proposed +issue date

Friday October 23, 2020

Refer to next page for full details of the announcement

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Proposed issue of securities

Part 1 - Entity and announcement details

1.1 Name of +Entity

HRL HOLDINGS LTD

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

1.2	Registered Number Type	Registration Number
ABN	99120896371
1.3	ASX issuer code
HRL

1. The announcement is New announcement
2. Date of this announcement

Friday October 23, 2020

1.6 The Proposed issue is:

A placement or other type of issue

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Proposed issue of securities

Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 - Are any of the following approvals required for the placement or other type of issue?

+Security holder approval

Court approval

Lodgement of court order with +ASIC

ACCC approval

FIRB approval

Another approval/condition external to the entity

Yes

7A.1a Conditions

Approval/Condition	Date for determination	Is the date estimated or
+Security holder approval	Thursday October 22, 2020	actual?
Actual

• Approval received/condition met?

Yes

Comments

Approval for the issue of 199,890 of the 2023 performance rights to a Director Mr Stephen Howse was obtained at the 2020 AGM held on 22 October 2020

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)?

New class

Will the proposed issue of this +security include an offer of attaching +securities?

No

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1?

Yes

ASX +security code

New class-code to be confirmed

Will the entity be seeking quotation of the 'new' class of +securities on ASX?

No

+Security description

Performance Rights Expiring 2023

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Proposed issue of securities

+Security type

Performance options/rights

Number of +securities proposed to be issued

4,088,723

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

Performance rights issued to company staff. Each right has an estimated value of $0.0982 per right.

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

401,512.600000

Will all the +securities issued in this class rank equally in all respects from their issue date?

Yes

Performance options/rights details
+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.0000	Friday June 30, 2023

Details of the type of +security that will be issued if the option is exercised

HRL : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised

Each right converts into one fully paid ordinary share

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

LTI performance rights expiry 2023 summary is included in schedule 2 of the 2020 AGM Notice: https://hrlholdings.com/w p-content/uploads/2020/09/NOM-and-explanatory-memorandum-HRL-Holdings-Ltd-FINAL-combined.pdf

Part 7C - Timetable

7C.1 Proposed +issue date

Friday October 23, 2020

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