ARIKA RESOURCES LIMITED — M&A Activity 2021

Dec 6, 2021

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7 December 2021

Your Ref: Our Ref: RCS:AND:3515-06 Contact: Adrian Di Menna Senior Associate adimenna@steinpag.com.au

The Manager Market Announcements Office ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

METALICITY LIMITED OFF-MARKET TAKEOVER BID FOR NEX METALS EXPLORATIONS LIMITED: NOTICE OF STATUS OF DEFEATING CONDITIONS

We act for Metalicity Limited (ACN 086 839 992) ( Metalicity ) in respect of its offers in relation to its off-market takeover bid for all of the fully paid ordinary shares in Nex Metals Explorations Limited (ACN 124 706 449) ( Offer ) pursuant to its bidder’s statement dated 24 September 2021 (as varied).

We enclose a notice of status of defeating conditions to the Offer given by Metalicity under section 630(3) of the Corporations Act 2001 (Cth).

This release has been authorised by the board of directors of Metalicity.

Yours faithfully

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STEINEPREIS PAGANIN

3515-06/2844448v1

Metalicity Limited

ACN 086 839 992

Off-market takeover bid for Nex Metals Explorations Limited

Notice of status of defeating conditions under section 630(3) of the Corporations Act 2001 (Cth)

• To: Nex Metals Explorations Limited (ACN 124 706 449) ( NME ); and ASX Limited

Metalicity Limited (ACN 086 839 992) ( Metalicity ) gives this notice under section 630(3) of the Corporations Act 2001 (Cth) ( Corporations Act ) in respect of its offers dated 14 October 2021 ( Offer ) in relation to its off-market takeover bid for all of the fully paid ordinary shares in Nex Metals Explorations Limited (ACN 124 706 449) pursuant to its bidder’s statement dated 24 September 2021 (as varied) ( Bidder’s Statement ).

Capitalised terms in this notice have the same meaning as given in the Bidder’s Statement, unless the context requires otherwise.

For the purposes of section 630(3) of the Corporations Act, Metalicity gives notice that:

• (a) the Offer and all takeover contracts arising from acceptance of the Offer have been freed of the Conditions set out in section 11.8 of the Bidder’s Statement per notice given by Metalicity pursuant to section 650F of the Corporations Act dated 3 December 2021 and as a result, the Offer is wholly unconditional; and

• (b) as at the date of this notice, Metalicity’s voting power in NME is 22.26%.

Date: 7 December 2021

Signed for and on behalf of Metalicity Limited:

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____ Justin Barton CEO and Finance Director