DEVELOP GLOBAL LIMITED — Major Shareholding Notification 2023

Jul 2, 2023

Form 603 Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme

Essential Metals Limited ( Essential )

ACN/ARSN

ACN 103 423 981

1. Details of substantial holder (1)

Name Develop Global Limited ( Develop ) and the entities listed in Annexure ‘A’ ( Develop Group ) ACN/ARSN (if applicable) ACN 122 180 205

The holder became a substantial holder on 02/07/2023

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 (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities(4)	Number of securities	Person’s votes(5)	Voting power(6)
OrdinaryShares	52,300,000	52,300,000	19.55%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became substantial holder are as follows:

er are as follows:
Holder of relevant interest	Nature of relevant interest(7)	Class and number of securities
Develop	Develop has a relevant interest under section 608(1)(b) and (c) of the Corporations Act 2001(Cth) pursuant to a Voting Deed with respect to shares in Essential between Develop and Lithium Resources Operations Pty Ltd (ACN 657 042 218) dated 2 July 2023, a copy of which is annexed to this notice as Annexure B.	52,300,000 fully paid ordinary shares
Members of the Develop Group other than Develop	Other members of the Develop Group have a relevant interest through the application of section 608(3) of the Corporations Act 2001(Cth)	52,300,000 fully paid ordinary shares

4. Details of present registered holders

The persons registered as holders of the securities referred to inparagraph 3 above are as follows: Holder of relevant interest Registered holder of securities Person entitled to be registered as holder(8) Class and number Develop Global Limited Lithium Resources Operations Pty Ltd Lithium Resources Operations Pty Ltd 52,300,000 fully paid ordinary shares	The persons registered as holders of the securities referred to inparagraph 3 above are as follows: Holder of relevant interest Registered holder of securities Person entitled to be registered as holder(8) Class and number Develop Global Limited Lithium Resources Operations Pty Ltd Lithium Resources Operations Pty Ltd 52,300,000 fully paid ordinary shares	The persons registered as holders of the securities referred to inparagraph 3 above are as follows: Holder of relevant interest Registered holder of securities Person entitled to be registered as holder(8) Class and number Develop Global Limited Lithium Resources Operations Pty Ltd Lithium Resources Operations Pty Ltd 52,300,000 fully paid ordinary shares	The persons registered as holders of the securities referred to inparagraph 3 above are as follows: Holder of relevant interest Registered holder of securities Person entitled to be registered as holder(8) Class and number Develop Global Limited Lithium Resources Operations Pty Ltd Lithium Resources Operations Pty Ltd 52,300,000 fully paid ordinary shares	The persons registered as holders of the securities referred to inparagraph 3 above are as follows: Holder of relevant interest Registered holder of securities Person entitled to be registered as holder(8) Class and number Develop Global Limited Lithium Resources Operations Pty Ltd Lithium Resources Operations Pty Ltd 52,300,000 fully paid ordinary shares
	Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder(8)	Class and number
	Develop Global Limited	Lithium Resources Operations Pty Ltd	Lithium Resources Operations Pty Ltd	52,300,000 fully paid ordinary shares

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 of acquisition	Consideration (9)	Consideration (9)	Class and number of securities
		Cash	Non-cash
Develop Global Limited	2 July 2023	Nil		52,300,000 fully paid ordinary shares

6. Associates

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

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

7. Addresses

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

Name	Address
DevelopGlobal Limited	234 RailwayParade,West Leederville,WA 6007
Lithium Resources Operations PtyLtd	20 Walters Drive,Osborne Park WA 6017

Signature

print name Steven Wood	capacity	Company Secretary
sign here	date	03/07/2023

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.

• (2) See the definition of "associate" in section 9 of the Corporations Act 2001.

• (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

• (4) The voting shares of a company constitute one class unless divided into separate classes.

• (5) The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.

• (6) The person’s votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (7) Include details of:

• (a) any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement;

  • d

• (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write “unknown.’”

• (9) Details of the consideration must include any and all benefits, moneys and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

Develop Global Limited ACN 122 180 205

ANNEXURE ‘A’

This is Annexure ‘A’ of 1 Page referred to in Form 603 (Notice of initial substantial holder).

To company name: Essential Metals Limited ACN: 103 423 981

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Name: Steven Wood

Title: Company Secretary Date: 3 July 2023

Develop Group

Name	Address	ACN
Develop Global Limited	234 Railway Parade, West Leederville, WA 6007	122 180 205
Jutt Resources Pty Ltd	234 Railway Parade, West Leederville, WA 6007	119 345 327
Juranium Pty Ltd	234 Railway Parade, West Leederville, WA 6007	126 229 605
CMG Gold Ltd	234 Railway Parade, West Leederville, WA 6007	120 124 727
Venturex Pilbara Pty Ltd	234 Railway Parade, West Leederville, WA 6007	071 748 911
Venturex Sulphur Springs Pty Ltd	234 Railway Parade, West Leederville, WA 6007	113 177 432
Dev Mining Services Pty Ltd	234 Railway Parade, West Leederville, WA 6007	657 914 102
Heron Resources Ltd	234 Railway Parade, West Leederville, WA 6007	068 263 098
Woodlawn Mine Holdings Pty Ltd	234 Railway Parade, West Leederville, WA 6007	612 657 164
Tarago Operations Pty Ltd	234 Railway Parade, West Leederville, WA 6007	127 810 413
Tarago Exploration Pty Ltd	234 Railway Parade, West Leederville, WA 6007	115 529 112
Ochre Resources Pty Ltd	234 Railway Parade, West Leederville, WA 6007	112 833 351
Hampton Nickel Pty Ltd	234 Railway Parade, West Leederville, WA 6007	100 180 498
Premium Mining and Civil Pty Ltd	234 Railway Parade, West Leederville, WA 6007	161 237 985
Premium Mining Personnel Pty Ltd	234 Railway Parade, West Leederville, WA 6007	141 370 738

Develop Global Limited ACN 122 180 205

ANNEXURE ‘B’

This is Annexure ‘B’ of 12 Pages referred to in Form 603 (Notice of initial substantial holder).

To company name: Essential Metals Limited ACN: 103 423 981

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Name: Steven Wood

Title: Company Secretary

Date: 3 July 2023

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2/7/2023

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Mark Wilson Derek Oelofse
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