DEEP YELLOW LIMITED — Major Shareholding Notification 2024

Mar 26, 2024

Form 603 Corporations Act Section 671B

Notice of initial substantial holder

• To: DEEP YELLOW LTD (“DYL”, Ordinary Fully Paid)

1. Details of substantial holder

Citigroup Global Markets Australia Pty Limited (ACN 003 114 832) and each of the related bodies corporate in the Citigroup group of companies worldwide (for more details please visit www.citigroup.com).

The holder became a substantial holder on 25 March 2024.

2. Details of 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 had a relevant interest in on the date the substantial holder became a substantial holder are as follows:

Class of securities	Number of securities	Person’s vote	Voting Power
Ordinary Fully Paid	46,899,471	46,899,471	5.3306%

3. Details of relevant interests

Holder of relevantinterest	Nature of relevant interest	Class and number ofsecurities
Citigroup GlobalMarkets Limited	Citigroup Global Markets Limited holds arelevant interest in these shares pursuant tocontracts entered into subject to an obligationto return under a securities lending agreement.Refer Annexure A.	3,882,459Ordinary Fully Paid
Citibank, N.A. SydneyBranch	Citibank, N.A. Sydney Branch holds a relevantinterest in these shares acting as Agent Lenderand as the holder of securities subject to anobligation to return under a securities lendingagreement. Refer Annexure A.	41,006,296Ordinary Fully Paid
Citigroup GlobalMarkets Inc	Citigroup Global Markets Inc holds a relevantinterest in these shares pursuant to contractsentered into subject to an obligation to returnunder a securities lending agreement ReferAnnexure A.	2,010,716Ordinary Fully Paid

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

follows:
Holder of relevant interest	Registered holder ofsecurities	Class and number ofsecurities
Citigroup Global MarketsLimited	Citicorp Nominees Pty Limited	3,882,459OrdinaryFullyPaid
Citibank, N.A. Sydney Branch	Various	41,006,296OrdinaryFullyPaid
Citigroup Global Markets Inc	Citicorp Nominees Pty Limited	2,010,716OrdinaryFullyPaid

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date ofacquisition	Consideration	Class and number ofsecurities
Citigroup Global MarketsLimited	Various	Various(ReferAnnexure A)	3,882,459Ordinary Fully Paid
Citibank, N.A. SydneyBranch	Various	Various(ReferAnnexure A)	41,006,296Ordinary Fully Paid
Citigroup Global MarketsInc	Various	Various(ReferAnnexure A)	2,010,716Ordinary Fully Paid

6. Associates

Name and ACN/ARSN (if applicable)	Nature of association
Citigroup Global Markets Limited	Each of the related bodies corporate in theCitigroup group of companies worldwide (formore details please visit www.citigroup.com).
Citibank, N.A. Sydney Branch	Each of the related bodies corporate in theCitigroup group of companies worldwide (formore detailsplease visit www.citigroup.com).
Citigroup Global Markets Inc	Each of the related bodies corporate in theCitigroup group of companies worldwide (formore detailsplease visit www.citigroup.com).

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

7. Addresses

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

Name

Address

Citigroup Global Markets Limited	Citigroup Centre, Canary Wharf33 Canada SquareLondon, E14 5LB, United Kingdom
Citibank, N.A. Sydney Branch	Citigroup Centre2 Park St Sydney, NSW 2000 Australia
Citigroup Global Markets Inc	388 Greenwich StNew York, NY 10013, United States

Dated this day, 27 March 2024.

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Annexure A

This is Annexure A of 2 pages referred to in Form 603 ‘Notice of initial substantial holder’

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Schedule (Loan)
Type of Agreement	AMSLA/ GMSLA/MSLA
Parties to Agreement	Various
Transfer date	Various
Holder of voting rights	Borrower
**Are there any restrictions on voting rights? **	No
Scheduled returndate	Unknown
Does the borrower have the right to return**early? **	Yes
Ifyes, details	StandardAMSLA/ GMSLA/MSLAterms
Does the lender have the right to recall**early? **	Yes
If yes, details	Standard AMSLA / GMSLA / MSLA terms
Will the securities be returned on**settlement? **	n/a
Statement	If requested by the company to whom theprescribed form must be given, or if requestedby ASIC, Citi will give a copy of the AMSLA /GMSLA/MSLAto the company or ASIC.

Schedule (Agency Lending Agreement)
Type of Agreement	SecuritiesLendingAgencyAgreement (SLAA)
Parties to Agreement	Various
Circumstances under which the agentlender can exercise the authorisations inrelation to the securities	Agent Lender can only exercise authority, asagent, in relation to the lender’s securities asdefined and agreed in the Securities LendingAgencyAgreement.
Circumstances under which the agentlender is subject to any restrictions in howit can deal with the securities	Lenders will define the restrictions and/orsecurities lending parameters in the SecuritiesLending Agency Agreement entered into withthe lending agent. Such restrictions/parametersinclude specific designated accounts, lendablelimits, acceptable collateral and/or cashreinvestment guidelines.
Does the agent lender have the right torecall early?	Agent Lenders have the right to early recall onbehalf of Lender’s instructions. However, theexpectation is the Lender and Borrower wouldhave mutually agreed no sales/recall of thesecurities during the duration of the loan term.Hence, borrowers are not obligated to returnthe securities earlyfortermedloans.
If yes, details	Authorised under the standard SecuritiesLending Agency Agreement terms.
Statement	If requested by the company to whom theprescribed form must be given, or if requestedby ASIC, Citi will give a copy of theauthorisation agreement to the company orASIC.