Announcement PDF Maiden Drilling Programme Commenced Condingup REE Project WA 1 September 2023 Following successful rock chip sampling programmes and a recent passive seismic field survey, EMU NL (ASX: EMU) (“EMU” or “the Company”) has commenced its maiden aircore (AC) drilling programme at the 100% owned Condingup Project near Esperance WA. Drilling commenced at the 1,560 square kilometre exploration project on the 31st August 2023 after formal land access approvals and administrative processes were completed. The modest 3,000m programme is designed to test EMU’s conceptual modelling of REE’s at Condingup which demonstrates rare earth element (REE) fertility adjacent to, and overlying the Booanya granite intrusive rocks. Drill collars have been planned to intercept the “clay traps” earlier confirmed by passive seismic that are expected to contain enriched concentrations of REE in clays. Fig 1. Aircore drilling commences at EMU’s Condingup REE Project 60kms east of Esperance WA ABN 50 127 291 927 | 10 Walker Avenue, West Perth, WA, 6005 | PO Box 1112, West Perth, WA, 6872 E: info@emunl.com.au | www.emunl.com.au | ASX Code: EMU HIGHLIGHTS  Targeted aircore drilling programme to test hypothesized clay-hosted REE enrichment at Condingup has commenced  Passive seismic results used to vector drill collars over the deeper weathered clay trap zones  Multiple zones will be drill tested in both the western and eastern areas of the project  Drill depths expected to range from 30 to 100m  A wide 6km+ paleo channel identified on the eastern margin of the most westerly Booanya Granite intrusions, will be drill tested. This target presents an excellent, large scale “walk-up” clay-trap target About the Condingup Rare Earth Project EMU’s 100% owned Condingup Rare Earth Project is located just 35kms southeast of ASX:OD6’s Splinter Rock Project. That project is achieving success in a similar geological se ng within REE enriched Booanya suite granites. EMU’s Condingup Project, accessible by sealed roads, is situated just 60kms from the port of Esperance and essen al infrastructure. Esperance is widely projected to become a central hub for major renewable energy and green hydrogen produc on and is located within a well-regarded explora on/mining friendly jurisdic on. EMU’s 1,560 square kilometre Condingup Rare Earth Project overlies saprolite, clay-enriched rare earth soils, and covers REE enriched, geologically significant Booanya granite suite plutons. The project tenements are located directly over what EMU considers to be some of the most prospec ve and highly fer le clay hosted REE granite suites in the Esperance region. Fig 2. Condingup REE Project highligh ng extensive regional land holding and broad REE mineralisa on determined from a number of high value Total Rare Earth Oxides (TREO’s) sampled from outcropping rocks including Booanya granites. RELEASE AUTHORISED BY THE BOARD For further informa on, please contact: Doug Grewar Chief Execu ve Officer Emu NL info@emunl.com.au Investors can sign into our interac ve investor hub and join in on the conversa on with Emu NL. h ps://investorhub.emunl.com.au/auth/signup EMU Investorhub QR Code Emu NL ABN 50 127 291 927 ASX Codes: EMU and EMUCA 10 Walker Ave West Perth, WA 6005 T +61 8 9226 4266 E info@emunl.com.au PO Box 1112 West Perth, WA 6872 Fully paid shares (listed) 1,450,021,079 (including 18.6m the subject of the ATM which EMU can buy back for nil consideration) Contributing Shares (listed) 40,485,069 paid to $0.03, $0.03 to pay, no call before 31 December 2023 Contributing Shares (Unlisted) 35,000,000 paid to $0.0001, $0.04 to pay, no call before 31 December 2025 Options (unlisted) 172,453,621 options to acquire fully paid shares, exercisable at $0.01 each, on or before 7 October 2024 Performance Rights (Unlisted) 48,571,429 performance rights in relation to acquisition of Gnows Nest project Directors: Peter Thomas Non-Executive Chairman Terry Streeter Non-Executive Director Gavin Rutherford Non-Executive Director Tim Staermose Non-Executive Director Investor enquiries: Doug Grewar CEO M +61 419833604 E info@emunl.com.au COMPETENT PERSON’S STATEMENT The informa on in this report that relates to explora on results is based on, and fairly represents informa on and suppor ng documenta on prepared by Kur s Dunstone, a Competent Person who is a Member of the Australian Ins tute of Geoscien sts. Mr Dunstone is an employee of EMU NL and has sufficient experience in the ac vity which he is undertaking to qualify as a Competent Person as defined in the 2012 edi on of the “Australasian Code for Repor ng of Explora on Results, Mineral Resources and Ore Reserves”. Mr Dunstone consents to the inclusion herein of the ma ers based upon his informa on in the form and context in which it appears. FORWARD LOOKING STATEMENTS As a result of a variety of risks, uncertain es and other factors, actual events and results may differ materially from any forward looking and other statements herein not purpor ng to be of historical fact. Any statements concerning mining reserves, resources and explora on results are forward looking in that they involve es mates based on assump ons. Forward looking statements are based on management’s beliefs, opinions and es mates as of the respec ve dates they are made. The Company does not assume any obliga on to update forward looking statements even where beliefs, opinions and es mates change or should do so given changed circumstances and developments. NEW INFORMATION OR DATA EMU confirms that it is not aware of any new informa on or data that materially affects the informa on included in the original market announcements and, in the case of es mates of Mineral Resources, which all material assump ons and technical parameters underpinning the es mates in the relevant market announcement con nue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not materially changed from the original market announcement. - END –