EMERALD RESOURCES NL — Major Shareholding Notification 2024

May 12, 2024

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 Ltd

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 05 2024 / / The previous notice was given to the company on 01 03 2024 / / The previous notice was dated 28 02 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	46,705,904	7.46%	41,893,054	6.42%

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:

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Name and ACN/ARSN (if applicable) Nature of association
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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 Australia Limited 1 Farrer Place, Syndey, Australia NSW, 2000

Signature

print name Ellen York Vice President capacity 10 05 2024 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

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Consideration
given in Person's
Person whose relevant interest Nature of relation to Class and number votes
Date of Change changed change change (AUD) of securities affected
29-Feb-24 T. Rowe Price Associates, Inc. Sale 2.8159 18331 ordinary shares 18,331
29-Feb-24 T. Rowe Price Australia Limited Sale 2.8159 424 ordinary shares 424
29-Feb-24 T. Rowe Price Australia Limited Sale 2.8159 83 ordinary shares 83
29-Feb-24 T. Rowe Price Associates, Inc. Sale 2.8159 745 ordinary shares 745
29-Feb-24 T. Rowe Price Australia Limited Sale 2.8159 65 ordinary shares 65
29-Feb-24 T. Rowe Price Australia Limited Sale 2.8159 956 ordinary shares 956
29-Feb-24 T. Rowe Price International Ltd. Sale 2.8159 192594 ordinary shares 192,594
29-Feb-24 T. Rowe Price International Ltd. Sale 2.8159 234946 ordinary shares 234,946
29-Feb-24 T. Rowe Price Associates, Inc. Sale 2.8159 69 ordinary shares 69
29-Feb-24 T. Rowe Price Associates, Inc. Sale 2.8159 48 ordinary shares 48
5-Mar-24 T. Rowe Price Australia Limited Sale 3.0804 217318 ordinary shares 217,318
5-Mar-24 T. Rowe Price Australia Limited Sale 3.0804 199164 ordinary shares 199,164
12-Apr-24 T. Rowe Price Australia Limited Sale 3.5814 24038 ordinary shares 24,038
12-Apr-24 T. Rowe Price Australia Limited Sale 3.5950 191317 ordinary shares 191,317
12-Apr-24 T. Rowe Price Australia Limited Sale 3.5814 25962 ordinary shares 25,962
12-Apr-24 T. Rowe Price Australia Limited Sale 3.5950 206636 ordinary shares 206,636
19-Apr-24 T. Rowe Price International Ltd. Purchase 3.6462 500000 ordinary shares 500,000
19-Apr-24 T. Rowe Price Australia Limited Sale 3.6691 521736 ordinary shares 521,736
19-Apr-24 T. Rowe Price Australia Limited Sale 3.6691 577707 ordinary shares 577,707
23-Apr-24 T. Rowe Price Associates, Inc. Sale 3.3880 22339 ordinary shares 22,339
23-Apr-24 T. Rowe Price Associates, Inc. Sale 3.3539 32774 ordinary shares 32,774
23-Apr-24 T. Rowe Price Australia Limited Sale 3.3880 541 ordinary shares 541
23-Apr-24 T. Rowe Price Australia Limited Sale 3.3539 793 ordinary shares 793
23-Apr-24 T. Rowe Price Australia Limited Sale 3.3880 276 ordinary shares 276
23-Apr-24 T. Rowe Price Australia Limited Sale 3.3539 404 ordinary shares 404
23-Apr-24 T. Rowe Price Associates, Inc. Sale 3.3880 873 ordinary shares 873
23-Apr-24 T. Rowe Price Associates, Inc. Sale 3.3539 1280 ordinary shares 1,280
23-Apr-24 T. Rowe Price Australia Limited Sale 3.3880 73 ordinary shares 73
23-Apr-24 T. Rowe Price Australia Limited Sale 3.3539 106 ordinary shares 106
23-Apr-24 T. Rowe Price Australia Limited Sale 3.3880 1210 ordinary shares 1,210
23-Apr-24 T. Rowe Price Australia Limited Sale 3.3539 1776 ordinary shares 1,776
23-Apr-24 T. Rowe Price International Ltd. Sale 3.3880 201281 ordinary shares 201,281
23-Apr-24 T. Rowe Price International Ltd. Sale 3.3539 295302 ordinary shares 295,302
23-Apr-24 T. Rowe Price International Ltd. Sale 3.3880 235121 ordinary shares 235,121
23-Apr-24 T. Rowe Price International Ltd. Sale 3.3539 344948 ordinary shares 344,948
23-Apr-24 T. Rowe Price Associates, Inc. Sale 3.3880 175 ordinary shares 175
23-Apr-24 T. Rowe Price Associates, Inc. Sale 3.3539 257 ordinary shares 257
23-Apr-24 T. Rowe Price Associates, Inc. Sale 3.3880 105 ordinary shares 105
23-Apr-24 T. Rowe Price Associates, Inc. Sale 3.3539 154 ordinary shares 154
24-Apr-24 T. Rowe Price Associates, Inc. Sale 3.4378 9625 ordinary shares 9,625
24-Apr-24 T. Rowe Price Associates, Inc. Sale 3.4292 22045 ordinary shares 22,045
24-Apr-24 T. Rowe Price Associates, Inc. Sale 3.4380 22560 ordinary shares 22,560
24-Apr-24 T. Rowe Price Australia Limited Sale 3.4378 233 ordinary shares 233
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Annexure 1

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24-Apr-24 T. Rowe Price Australia Limited Sale 3.4292 533 ordinary shares 533
24-Apr-24 T. Rowe Price Australia Limited Sale 3.4380 546 ordinary shares 546
24-Apr-24 T. Rowe Price Australia Limited Sale 3.4378 119 ordinary shares 119
24-Apr-24 T. Rowe Price Australia Limited Sale 3.4292 272 ordinary shares 272
24-Apr-24 T. Rowe Price Australia Limited Sale 3.4380 278 ordinary shares 278
24-Apr-24 T. Rowe Price Associates, Inc. Sale 3.4378 376 ordinary shares 376
24-Apr-24 T. Rowe Price Associates, Inc. Sale 3.4292 861 ordinary shares 861
24-Apr-24 T. Rowe Price Associates, Inc. Sale 3.4380 882 ordinary shares 882
24-Apr-24 T. Rowe Price Australia Limited Sale 3.4378 31 ordinary shares 31
24-Apr-24 T. Rowe Price Australia Limited Sale 3.4292 72 ordinary shares 72
24-Apr-24 T. Rowe Price Australia Limited Sale 3.4380 74 ordinary shares 74
24-Apr-24 T. Rowe Price Australia Limited Sale 3.4378 522 ordinary shares 522
24-Apr-24 T. Rowe Price Australia Limited Sale 3.4292 1194 ordinary shares 1,194
24-Apr-24 T. Rowe Price Australia Limited Sale 3.4380 1222 ordinary shares 1,222
24-Apr-24 T. Rowe Price International Ltd. Sale 3.4378 86728 ordinary shares 86,728
24-Apr-24 T. Rowe Price International Ltd. Sale 3.4292 198634 ordinary shares 198,634
24-Apr-24 T. Rowe Price International Ltd. Sale 3.4380 203276 ordinary shares 203,276
24-Apr-24 T. Rowe Price International Ltd. Sale 3.4378 101309 ordinary shares 101,309
24-Apr-24 T. Rowe Price International Ltd. Sale 3.4292 232029 ordinary shares 232,029
24-Apr-24 T. Rowe Price International Ltd. Sale 3.4380 237450 ordinary shares 237,450
24-Apr-24 T. Rowe Price Associates, Inc. Sale 3.4378 75 ordinary shares 75
24-Apr-24 T. Rowe Price Associates, Inc. Sale 3.4292 173 ordinary shares 173
24-Apr-24 T. Rowe Price Associates, Inc. Sale 3.4380 177 ordinary shares 177
24-Apr-24 T. Rowe Price Associates, Inc. Sale 3.4378 45 ordinary shares 45
24-Apr-24 T. Rowe Price Associates, Inc. Sale 3.4292 104 ordinary shares 104
24-Apr-24 T. Rowe Price Associates, Inc. Sale 3.4380 106 ordinary shares 106
26-Apr-24 T. Rowe Price Associates, Inc. Sale 3.4095 12573 ordinary shares 12,573
26-Apr-24 T. Rowe Price Australia Limited Sale 3.4095 304 ordinary shares 304
26-Apr-24 T. Rowe Price Australia Limited Sale 3.4095 155 ordinary shares 155
26-Apr-24 T. Rowe Price Associates, Inc. Sale 3.4095 491 ordinary shares 491
26-Apr-24 T. Rowe Price Australia Limited Sale 3.4095 41 ordinary shares 41
26-Apr-24 T. Rowe Price Australia Limited Sale 3.4095 681 ordinary shares 681
26-Apr-24 T. Rowe Price International Ltd. Sale 3.4095 113283 ordinary shares 113,283
26-Apr-24 T. Rowe Price International Ltd. Sale 3.4095 132328 ordinary shares 132,328
26-Apr-24 T. Rowe Price Associates, Inc. Sale 3.4095 99 ordinary shares 99
26-Apr-24 T. Rowe Price Associates, Inc. Sale 3.4095 59 ordinary shares 59
8-May-24 T. Rowe Price International Ltd. Sale 3.4908 91927 ordinary shares 91,927
8-May-24 T. Rowe Price International Ltd. Sale 3.4771 82440 ordinary shares 82,440
8-May-24 T. Rowe Price International Ltd. Sale 3.4908 108073 ordinary shares 108,073
8-May-24 T. Rowe Price International Ltd. Sale 3.4771 96918 ordinary shares 96,918
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This is annexure 1 referred to on page 1 of Form 604 (Notice of change of interests of substantial holder)

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______ Ellen York, Vice President

10-May-24

Annexure 2

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Registered holder of Person entitled to be registered Class and number of
Holder of Relevant Interest securities as holder (8) securities
1,061,277 ordinary
T. Rowe Price Associates, Inc. Bank of New York Mellon Bank of New York Mellon shares
10,253 ordinary
T. Rowe Price Associates, Inc. JP Morgan Chase JP Morgan Chase shares
42,398 ordinary
T. Rowe Price Associates, Inc. State Street Bank & Trust Co State Street Bank & Trust Co shares
30,726,449 ordinary
T. Rowe Price International Ltd. State Street Bank & Trust Co State Street Bank & Trust Co shares
35,271 ordinary
T. Rowe Price Australia Limited JP Morgan Chase JP Morgan Chase shares
10,052,677 ordinary
T. Rowe Price Australia Limited State Street Bank & Trust Co JP Morgan Chase shares
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This is annexure 2 referred to on page 1 of Form 604 (Notice of change of interest of substantial holder)

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______ Ellen York, Vice President

10-May-24