Brightstar Resources to issue performance rights to executive directors

Brightstar Resources Limited (ASX: BTR) is seeking shareholder approval to issue a total of 4,821,428 share performance rights to its executive directors. This proposed issuance falls under the company's short-term and long-term Employees Securities Incentive Program (ESIP) and will not be for cash consideration. The company has scheduled the proposed issue date for November 25, 2025, following a shareholder vote set for November 24, 2025.

The performance rights, a new class of security, will convert on a one-to-one basis into fully-paid ordinary shares upon exercise. These rights are not intended for quotation on the ASX, nor will they be subject to voluntary escrow or classified as restricted securities. The material terms of these share performance rights are detailed in the Notice of Meeting announced on October 24, 2025.

This proposal aims to incentivize executive directors in line with company performance objectives. The issuance will occur outside of the company's 15% placement capacity under Listing Rule 7.1, as it requires specific security holder approval for parties referred to in Listing Rule 10.11. There will be no lead manager, broker, or underwriting for this proposed issue.