EMERALD RESOURCES NL — Major Shareholding Notification 2023

Aug 29, 2023

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 Emerald Resources NL

ACN/ARSN 009 795 046

1. Details of substantial holder(1)

Name T. Rowe Price Associates, Inc.

ACN/ARSN (if applicable)

There was a change in the interests of the substantial holder on 28 08 2023 / / The previous notice was given to the company on 10 08 2023 / / The previous notice was dated 08 08 2023 / /

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 votes	Voting power (5)
Ordinary Shares	43,128,605	7.23%	50,357,095	8.44%

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
See Annexur	e 1

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
See Annexur	e 2

604 page 2/2 15 July 2001

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 T. Rowe Price Associates, Inc. 100 East Pratt Street, Baltimore, MD 21202 T. Rowe Price International Ltd 60 Queen Victoria Street, London, EC4N 4TZ, United Kingdom T. Rowe Price Japan, Inc. GranTokyo South Tower, 10th Floor, 1-9-2 Marunouchi, Chiyoda-ku, Tokyo, 100-6610, Japan

Signature

print name Gary Greb Vice President capacity 29 08 2023 sign here date / /

DIRECTIONS

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

• (6) Include details of:

• (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. 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; and

• (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.

• (7) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, becom`e 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.

• (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) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

Annexure 1

Date of Change		Person whose relevant interest changed	Nature of change	Nature of change	Consideration	Class and number of securities		Person's votes affected
					given in relation to change (AUD)
				change
9-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2350	219539 ordinaryshares		219,539
9-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2494	12807 ordinaryshares		12,807
9-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2000	710718 ordinaryshares		710,718
9-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2350	99860 ordinaryshares		99,860
9-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2494	5825 ordinaryshares		5,825
9-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2000	323277 ordinaryshares		323,277
9-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2350	94087 ordinaryshares		94,087
9-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2494	5488 ordinaryshares		5,488
9-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2000	304587 ordinaryshares		304,587
9-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2350	69120 ordinaryshares		69,120
9-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2494	4032 ordinaryshares		4,032
9-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2000	223762 ordinaryshares		223,762
10-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.2940	56979 ordinaryshares		56,979
10-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.2948	4911 ordinaryshares		4,911
10-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.2940	2205 ordinaryshares		2,205
10-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.2948	190 ordinaryshares		190
10-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.2940	383 ordinaryshares		383
10-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.2948	33 ordinaryshares		33
10-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.2940	169 ordinaryshares		169
10-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.2948	15 ordinaryshares		15
10-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.2940	334 ordinaryshares		334
10-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.2948	29 ordinaryshares		29
10-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2940	110878 ordinaryshares		110,878
10-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2948	9556 ordinaryshares		9,556
10-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2940	50434 ordinaryshares		50,434
10-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2948	4347 ordinaryshares		4,347
10-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2940	47518 ordinaryshares		47,518
10-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2948	4095 ordinaryshares		4,095
10-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2940	34908 ordinaryshares		34,908
10-Aug-23		T. Rowe Price International Ltd.		Purchase	2.2948	3009 ordinaryshares		3,009
10-Aug-23		T. Rowe Price Japan Inc.		Purchase	2.2940	2580 ordinaryshares		2,580
10-Aug-23		T. Rowe Price Japan Inc.		Purchase	2.2948	222 ordinaryshares		222
10-Aug-23		T. Rowe Price Japan Inc.		Purchase	2.2940	382 ordinaryshares		382
10-Aug-23		T. Rowe Price Japan Inc.		Purchase	2.2948	33 ordinaryshares		33
11-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.3550	8839 ordinaryshares		8,839
11-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.4050	21189 ordinaryshares		21,189
11-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.3445	907 ordinaryshares		907
11-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.3550	342 ordinaryshares		342
11-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.4050	820 ordinaryshares		820
11-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.3445	35 ordinaryshares		35
11-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.3550	60 ordinaryshares		60
11-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.4050	143 ordinaryshares		143
11-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.3445	6 ordinaryshares		6
11-Aug-23		T. Rowe Price Associates, Inc.		Purchase	2.3550	26 ordinaryshares		26

Annexure 1

11-Aug-23	T. Rowe Price Associates, Inc.	Purchase	2.4050	63 ordinaryshares	63
11-Aug-23	T. Rowe Price Associates, Inc.	Purchase	2.3445	3 ordinaryshares	3
11-Aug-23	T. Rowe Price Associates, Inc.	Purchase	2.3550	52 ordinaryshares	52
11-Aug-23	T. Rowe Price Associates, Inc.	Purchase	2.4050	124 ordinaryshares	124
11-Aug-23	T. Rowe Price Associates, Inc.	Purchase	2.3445	5 ordinaryshares	5
11-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3550	156595 ordinaryshares	156,595
11-Aug-23	T. Rowe Price International Ltd.	Purchase	2.4050	375406 ordinaryshares	375,406
11-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3445	16085 ordinaryshares	16,085
11-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3550	64058 ordinary shares	64,058
11-Aug-23	T. Rowe Price International Ltd.	Purchase	2.4050	153566 ordinary shares	153,566
11-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3445	6580 ordinary shares	6,580
11-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3550	111753 ordinary shares	111,753
11-Aug-23	T. Rowe Price International Ltd.	Purchase	2.4050	267904 ordinary shares	267,904
11-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3445	11478 ordinary shares	11,478
11-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3550	65181 ordinary shares	65,181
11-Aug-23	T. Rowe Price International Ltd.	Purchase	2.4050	156259 ordinary shares	156,259
11-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3445	6695 ordinary shares	6,695
11-Aug-23	T. Rowe Price Japan Inc.	Purchase	2.3550	400 ordinary shares	400
11-Aug-23	T. Rowe Price Japan Inc.	Purchase	2.4050	959 ordinary shares	959
11-Aug-23	T. Rowe Price Japan Inc.	Purchase	2.3445	41 ordinary shares	41
11-Aug-23	T. Rowe Price Japan Inc.	Purchase	2.3550	59 ordinary shares	59
11-Aug-23	T. Rowe Price Japan Inc.	Purchase	2.4050	142 ordinary shares	142
11-Aug-23	T. Rowe Price Japan Inc.	Purchase	2.3445	6 ordinary shares	6
14-Aug-23	T. Rowe Price Associates, Inc.	Purchase	2.4550	20106 ordinary shares	20,106
14-Aug-23	T. Rowe Price Associates, Inc.	Purchase	2.4550	778 ordinary shares	778
14-Aug-23	T. Rowe Price Associates, Inc.	Purchase	2.4550	135 ordinary shares	135
14-Aug-23	T. Rowe Price Associates, Inc.	Purchase	2.4550	60 ordinary shares	60
14-Aug-23	T. Rowe Price Associates, Inc.	Purchase	2.4550	118 ordinary shares	118
14-Aug-23	T. Rowe Price International Ltd.	Purchase	2.4550	356232 ordinary shares	356,232
14-Aug-23	T. Rowe Price International Ltd.	Purchase	2.4550	145724 ordinary shares	145,724
14-Aug-23	T. Rowe Price International Ltd.	Purchase	2.4550	254221 ordinary shares	254,221
14-Aug-23	T. Rowe Price International Ltd.	Purchase	2.4550	148277 ordinary shares	148,277
14-Aug-23	T. Rowe Price Japan Inc.	Purchase	2.4550	910 ordinary shares	910
14-Aug-23	T. Rowe Price Japan Inc.	Purchase	2.4550	135 ordinary shares	135
25-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3600	89911 ordinary shares	89,911
25-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3600	91260 ordinary shares	91,260
25-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3600	144128 ordinary shares	144,128
25-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3550	81609 ordinary shares	81,609
25-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3413	17198 ordinary shares	17,198
25-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3500	2398 ordinary shares	2,398
25-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3510	58518 ordinary shares	58,518
25-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3550	1084 ordinary shares	1,084
25-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3550	20159 ordinary shares	20,159
25-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3600	110089 ordinary shares	110,089
25-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3600	111740 ordinary shares	111,740
25-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3600	176473 ordinary shares	176,473
25-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3550	99924 ordinary shares	99,924

Annexure 1

25-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3413	21057 ordinary shares	21,057
25-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3500	2936 ordinary shares	2,936
25-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3510	71649 ordinary shares	71,649
25-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3550	1328 ordinary shares	1,328
25-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3550	24684 ordinary shares	24,684
28-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3150	430898 ordinary shares	430,898
28-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3221	292771 ordinary shares	292,771
28-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3150	369102 ordinary shares	369,102
28-Aug-23	T. Rowe Price International Ltd.	Purchase	2.3221	250785 ordinary shares	250,785

This is annexure 1 referred to on page 1 of Form 604 (Notice of change of interests of substantial holder)

==> picture [94 x 38] intentionally omitted <==

______ Gary Greb, Vice President

29‐Aug‐23

Annexure 2

Holder of Relevant Interest	Registered holder of securities	Person entitled to be registered	Class and number of securities
		as holder (8)
T. Rowe Price Associates,Inc.	Bank of New York Mellon	Bank of New York Mellon	1,309,314 ordinary shares
T. Rowe Price Associates,Inc.	JP Morgan Chase	JP Morgan Chase	13,081 ordinary shares
T. Rowe Price Associates,Inc.	State Street Bank & Trust Co	State Street Bank & Trust Co	133,408 ordinary shares
T. Rowe Price International Ltd.	State Street Bank & Trust Co	State Street Bank & Trust Co	48,859,461 ordinary shares
T. Rowe Price Japan,Inc.	JP Morgan Chase	JP Morgan Chase	41,831 ordinary shares

This is annexure 2 referred to on page 1 of Form 604 (Notice of change of interest of substantial holder)

==> picture [91 x 37] intentionally omitted <==

______ Gary Greb, Vice President

29-Aug-23