CHALLENGER GOLD LIMITED — Major Shareholding Notification 2021

May 19, 2021

604 page 1/2 15 July 2001

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 18/ 05 / 2021 The previous notice was given to the company on 07/ 08 / 2020 The previous notice was dated 07/ 08 /2020

2. Previous and present voting power

The total number of votes attached toall the voting shares in the company or voting interests in the scheme that the substaanlthiolder or an associate (2) had a relevant interest (3) in when last required, and when now required, togive 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	42,195,332	6.50%	43,424,499	5.37%

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 tvinog securities of the company or scheme, since the substantial holder was last required togive a substantial holding notice to the company or scheme are as follows:

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

4. Present relevant interests

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

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

604 page 2/2 15 July 2001

	Knauer FamilySuper Pty Ltd<Knauer FamilySuper FundA/C>Knauer Family Super PtyLtd <Knauer Family SuperFund A/C>Knauer Family Super PtyLtd <Knauer FamilySuper Fund A/C>Beneficiary967,000967,0005. Changes in associationThe persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association wni(th9,)the substantial holder in relation to votinginterests in the company or scheme are as follows:Name and ACN/ARSN(if applicable)Nature of association6. AddressesThe addresses of persons named in this form are as follows:NameAddressKris KnauerLevel 1 1205 Hay Street West Perth WA 6005Kris Knauer20 May 2021Signature	Knauer FamilySuper Pty Ltd<Knauer FamilySuper FundA/C>Knauer Family Super PtyLtd <Knauer Family SuperFund A/C>Knauer Family Super PtyLtd <Knauer FamilySuper Fund A/C>Beneficiary967,000967,0005. Changes in associationThe persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association wni(th9,)the substantial holder in relation to votinginterests in the company or scheme are as follows:Name and ACN/ARSN(if applicable)Nature of association6. AddressesThe addresses of persons named in this form are as follows:NameAddressKris KnauerLevel 1 1205 Hay Street West Perth WA 6005Kris Knauer20 May 2021Signature	Knauer FamilySuper Pty Ltd<Knauer FamilySuper FundA/C>Knauer Family Super PtyLtd <Knauer Family SuperFund A/C>Knauer Family Super PtyLtd <Knauer FamilySuper Fund A/C>Beneficiary967,000967,0005. Changes in associationThe persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association wni(th9,)the substantial holder in relation to votinginterests in the company or scheme are as follows:Name and ACN/ARSN(if applicable)Nature of association6. AddressesThe addresses of persons named in this form are as follows:NameAddressKris KnauerLevel 1 1205 Hay Street West Perth WA 6005Kris Knauer20 May 2021Signature	Knauer FamilySuper Pty Ltd<Knauer FamilySuper FundA/C>Knauer Family Super PtyLtd <Knauer Family SuperFund A/C>Knauer Family Super PtyLtd <Knauer FamilySuper Fund A/C>Beneficiary967,000967,0005. Changes in associationThe persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association wni(th9,)the substantial holder in relation to votinginterests in the company or scheme are as follows:Name and ACN/ARSN(if applicable)Nature of association6. AddressesThe addresses of persons named in this form are as follows:NameAddressKris KnauerLevel 1 1205 Hay Street West Perth WA 6005Kris Knauer20 May 2021Signature
		Name		Address
		Kris Knauer		Level 1 1205 Hay Street West Perth WA 6005
			Kris Knauer	20 May 2021