EMERALD RESOURCES NL — Major Shareholding Notification 2023

Aug 10, 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 08 08 2023 / / The previous notice was given to the company on 18 07 2023 / / The previous notice was dated 14 07 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	34,089,932	5.72%	43,128,605	7.23%

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 10 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		Consideration given in relation to change (AUD)		Class and number of securities	Person's votes	Person's votes
										affected
31-Jul-23		T. Rowe Price International Ltd		Purchase		2.1600	1428074 ordinaryshares			1,428,074
31-Jul-23		T. Rowe Price International Ltd		Purchase		2.1600	1242012 ordinaryshares			1,242,012
1-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.3325	24576 ordinaryshares			24,576
1-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.3100	8201 ordinaryshares			8,201
1-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.3150	18431 ordinaryshares			18,431
1-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.3325	1967 ordinaryshares			1,967
1-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.3100	657 ordinaryshares			657
1-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.3150	1475 ordinaryshares			1,475
1-Aug-23		T. Rowe Price Japan, Inc.		Purchase		2.3325	1402 ordinaryshares			1,402
1-Aug-23		T. Rowe Price Japan, Inc.		Purchase		2.3100	468 ordinaryshares			468
1-Aug-23		T. Rowe Price Japan, Inc.		Purchase		2.3150	1051 ordinaryshares			1,051
1-Aug-23		T. Rowe Price Japan, Inc.		Purchase		2.3325	209 ordinaryshares			209
1-Aug-23		T. Rowe Price Japan, Inc.		Purchase		2.3100	69 ordinaryshares			69
1-Aug-23		T. Rowe Price Japan, Inc.		Purchase		2.3150	157 ordinaryshares			157
1-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.3325	348 ordinaryshares			348
1-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.3100	117 ordinaryshares			117
1-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.3150	261 ordinaryshares			261
1-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.3325	3421 ordinaryshares			3,421
1-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.3100	1142 ordinaryshares			1,142
1-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.3150	2566 ordinaryshares			2,566
1-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.3325	226 ordinaryshares			226
1-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.3100	75 ordinaryshares			75
1-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.3150	170 ordinaryshares			170
1-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.3325	305 ordinaryshares			305
1-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.3100	102 ordinaryshares			102
1-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.3150	229 ordinaryshares			229
3-Aug-23		T. Rowe Price International Ltd		Purchase		2.2683	69391 ordinaryshares			69,391
3-Aug-23		T. Rowe Price International Ltd		Purchase		2.2450	191686 ordinaryshares			191,686
3-Aug-23		T. Rowe Price International Ltd		Purchase		2.2683	53405 ordinaryshares			53,405
3-Aug-23		T. Rowe Price International Ltd		Purchase		2.2450	147528 ordinaryshares			147,528
3-Aug-23		T. Rowe Price International Ltd		Purchase		2.2683	65903 ordinaryshares			65,903
3-Aug-23		T. Rowe Price International Ltd		Purchase		2.2450	182052 ordinaryshares			182,052
8-Aug-23		T. Rowe Price International Ltd		Purchase		2.2700	2535413 ordinaryshares			2,535,413
8-Aug-23		T. Rowe Price International Ltd		Purchase		2.2273	352163 ordinaryshares			352,163
8-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.2700	126975 ordinaryshares			126,975
8-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.2273	17637 ordinaryshares			17,637
8-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.2700	3642 ordinaryshares			3,642
8-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.2273	506 ordinaryshares			506
8-Aug-23		T. Rowe Price Japan, Inc.		Purchase		2.2700	2574 ordinaryshares			2,574
8-Aug-23		T. Rowe Price Japan, Inc.		Purchase		2.2273	358 ordinaryshares			358
8-Aug-23		T. Rowe Price Japan, Inc.		Purchase		2.2700	383 ordinaryshares			383
8-Aug-23		T. Rowe Price Japan, Inc.		Purchase		2.2273	53 ordinaryshares			53
8-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.2700	626 ordinaryshares			626
8-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.2273	87 ordinaryshares			87
8-Aug-23		T. Rowe Price International Ltd		Purchase		2.2700	2232325 ordinaryshares			2,232,325
8-Aug-23		T. Rowe Price International Ltd		Purchase		2.2273	310065 ordinaryshares			310,065
8-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.2700	6217 ordinaryshares			6,217
8-Aug-23		T. Rowe Price Associates, Inc.		Purchase		2.2273	864 ordinaryshares			864

Annexure 1

8-Aug-23	T. Rowe Price Associates, Inc.	Purchase	2.2700	407 ordinaryshares	407
8-Aug-23	T. Rowe Price Associates, Inc.	Purchase	2.2273	57 ordinaryshares	57
8-Aug-23	T. Rowe Price Associates, Inc.	Purchase	2.2700	566 ordinaryshares	566
8-Aug-23	T. Rowe Price Associates, Inc.	Purchase	2.2273	79 ordinaryshares	79

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

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______ Gary Greb, Vice President

10‐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	1,196,383 ordinary shares
T. Rowe Price Associates,Inc.	JP Morgan Chase	JP Morgan Chase	12,083 ordinary shares
T. Rowe Price Associates,Inc.	State Street Bank & Trust Co	State Street Bank & Trust Co	128,278 ordinary shares
T. Rowe Price International Ltd.	State Street Bank & Trust Co	State Street Bank & Trust Co	41,755,899 ordinary shares
T. Rowe Price Japan,Inc.	JP Morgan Chase	JP Morgan Chase	35,962 ordinary shares

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

==> picture [89 x 39] intentionally omitted <==

______ Gary Greb, Vice President

10‐Aug‐23