EQ RESOURCES LIMITED — Capital/Financing Update 2019

Jul 25, 2019

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ABN: 77 115 009 106 (ASX: SEI)

Registered Office: Level 17 500 Collins Street Melbourne VIC 3000 Ph: (03) 9614 0600 Fax: (03) 9614 0550 www.specialitymetalsintl.com.au Postal: PO Box 1496 Mareeba QLD 4880

26 July 2019

Company Announcements Office ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000

Rights Issue Closure and Notification of Shortfall

Speciality Metals International Limited ( SEI or the Company ) advise that its recent underwritten pro-rata nonrenounceable 1 for 5 entitlement offer ( Offer ) closed at 5:00pm AEST on Tuesday 23 July 2019 with the below results.

EVENT	NO OF SHARES	APPLICABLE
		FUNDS
Shares on issue before the Offer	798,107,881
Total shares applied for under the Offer	112,733,514	$2,029,203
Shortfall shares remaining after close of the Offer	46,888,236	$843,988

The Company will issue and allot all shares applied for by shareholders under the Offer ( New Shares ) on Tuesday, 30 July 2019, and will apply for ASX for quotation of those New Shares.

The Offer is underwritten by Rymill Global Ventures Ltd. Under the underwriting agreement, Rymill Global Ventures Ltd is required to subscribe for all of the shares not subscribed for by Shareholders under the Offer ( Shortfall Shares ) within 3 business days of receipt of a shortfall notice from the Company. The Company will issue and allot all Shortfall Shares on Tuesday, 6 August 2019, and will apply for ASX for quotation of those shares.

For and on behalf of Speciality Metals International Limited

Adrien Wing Company Secretary

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