Celsius Resources Limited — Board/Management Information 2019

Oct 24, 2019

ASX RELEASEASX RELEASE | 25 October 2019 | 16 February 2017

NOTICE RECEIVED UNDER SECTION 249D

OF THE CORPORATIONS ACT

Celsius Resources Limited (the “Company”) advises that on 24 October 2019 it received a notice under section 249D of the Corporations Act 2001 (“249D Notice”) requesting the Company call and arrange to hold a meeting of the members of the Company.

The 249D Notice was received from:

• Robert David Lurie

• Christopher Flood

• Gregory George Davis

• Dean Andrew Kent (Wattle A/C)

• Mathew Benjamin Emy

• Mbemy Pty Ltd

• Andrew Graham Palleson

• Kerry Michelle Jiali Palleson

• Amanda Elizabeth Zhao Palleson

• Andrew Graham Palleson and Hui Palleson as trustees of the Palleson Superfund

• John Stuart McGowan

• JSMIndustries Super Pty Ltd

• Peter Paul Kozlowski

• Kozlowski Nominees Pty Ltd as trustee Kozlowski Family Super Fund

• Guarino Holdings Pty Ltd

• Simon Michael Guarino

• Warren John Quinn

• Daniel Peter Washburn

• Natalie McPherson

• Kurt Josef Linghor and Lucy Loinghor as trustees of the Lingo Superfund

• KJLA Pty Ltd

who claim to hold more than 5% of the shares in the Company.

The 249D Notice seeks:

• the appointment of Mr John Westdorp, Ms Hui (Michelle) Palleson and Mr Carl Gerald Swensson as directors of the Company; and

• the removal of Messrs Bill Oliver and Brendan Borg as directors of the Company.

The Company is seeking legal advice as to the validity of the 249D Notice and will keep the market and its shareholders informed of all material developments concerning this matter.

If the Company confirms that the 249D Notice is valid (which is still to be confirmed), the Company is not required to or in a position to include the proposed resolutions in its Notice of Annual General Meeting. The Company’s Notice of AGM had been finalised and sent to the printers before the 249D Notice was received.

As it will not be possible to include the proposed resolutions in the Notice of AGM, if the 249D Notice is valid, the Company will be required to go to convening an additional shareholder meeting to consider the proposed resolutions.

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----- Start of picture text ----- Level 2, 22 Mount Street, P: +61 8 6188 8181Perth WA 6000 F: +61 8 6188 8182PO Box 7054, Cloisters Square, info@celsiusresources.com.auPerth WA 6850 www.celsiusresources.com.au----- End of picture text -----

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For further information please contact:

Celsius Resources

Level 2, 22 Mount Street Perth WA 6000 PO Box 7054 Cloisters Square Perth WA 6850 P: +61 8 6188 8181 F: +61 8 6188 8182

• E: info@celsiusresources.com.au www.celsiusresources.com.au

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