CHALLENGER GOLD LIMITED — Major Shareholding Notification 2021

Sep 13, 2021

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14 September 2021

The Manager Company Announcements Office Australian Securities Exchange Limited Level 40, Central Park 152 – 158 St Georges Terrace PERTH WA 6000

Via e-lodgment

RE: AMENDMENT TO NOTICE OF CEASING TO BE A SUBSTANTIAL SHAREHOLDER

An amended and updated notice of change of interests of substantial holder is lodged on behalf of Mr. Kris Knauer. A notice of cessation as substantial holder was inadvertently lodged as the calculation undertaken at the time had incorrectly determined that Mr. Knauer’s voting power had reduced below 5%.

The notice of cessation is withdrawn and the enclosed notice updates Mr. Knauer’s voting power as at today’s date.

Yours faithfully

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Scott Funston Company Secretary +61 413 867 600 scott.funston@challengerex.com

Challenger Exploration Limited ACN 123 591 382 ASX: CEL

Australian Registered Office

Issued Capital

971.4m shares

Level 1

51.9m options 1205 Hay Street 120m perf shares West Perth WA 6005 16m perf rights

Directors

Mr Kris Knauer, MD and CEO Mr Scott Funston, Finance Director Mr Fletcher Quinn , Chairman

Contact

E: admin@challengerex.com

T: +61 8 6380 9235

www.challengerex.com

page 1/2 15 July 2001

604

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme

Challenger Exploration Limited

ACN/ARSN 123 591 382

1. Details of substantial holder(1)

Name Kris Knauer There was a change in the interests of the substantial holder on 09/ 09 / 2021 The previous notice was given to the company on 20/ 05 / 2021 The previous notice was dated 20/ 05 / 2021

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities(4)	Previous notice	Previous notice	Present notice	Present notice
	Person's votes	Voting power(5)	Person's vote	Voting power(5)
Ordinary	43,424,499	5.37%	52,278,666	5.38%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
13/07/2021	Moneybung Pty Ltd	Exercise of Unlisted Options	$354,167	8,854,167	8,854,167
25 / 11/ 2020	Moneybung Pty Ltd	Issued in lieu of cash consideration for salaries, as approved at a meeting of shareholders on 23 November 2020	$245,833	1,229,167	1,229,167
18 / 05 / 2021	Moneybung Pty Ltd	Dilution	N/A	41,228,332	41,228,332
18 / 05 / 2021	Knauer Family Super Pty Ltd A/C>	Dilution	N/A	967,000	967,000

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
Moneybung Pty Ltd Family A/C>	Moneybung Pty Ltd	Moneybung Pty Ltd A/C>	Beneficiary	42,457,499	42,457,499

604 page 2/2 15 July 2001

Knauer Family Super Pty Ltd Super Fund\ A/C>	Knauer Family Super Pty Ltd Fund A/C>	Knauer Family Super Pty Ltd Super Fund A/C>	Beneficiary	967,000	967,000

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable) Nature of association

6. Addresses

The addresses of persons named in this form are as follows:

Name Address Kris Knauer Level 1 1205 Hay Street West Perth WA 6005 Kris Knauer 14 September 2021

Signature