EQ RESOURCES LIMITED — Major Shareholding Notification 2019

May 16, 2019

605 Page 1 of 2 15 July 2001

Form 605

Corporations Act 2001

Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme

ACN/ARSN

Speciality Metals International Limited

115 009 106

1. Details of substantial holder (1)

Name Covenant Holdings (WA) Pty Ltd

ACN/ARSN (if applicable)

129 030 897

The holder ceased to be a substantial holder on

16/05/2019

The previous notice was given to the company on 18 / 10 / 2018 The previous notice was dated 18 / 10 / 2018

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) 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 ofchange	Person whoserelevant interestchanged	Nature of change (4)	Consideration givenin relation to change(5)	Class (6) andnumber ofsecurities affected	Person's votesaffected
16/05/2019	CovenantHoldings(WA) Pty Ltd	Dilution as aresult ofshareplacement	Not applicable	Ordinaryshares30,300,000	30,300,000

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) 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 Not applicable

4. Addresses

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

Name	Address
Covenant Holdings (WA)Pty Ltd	Suite 1309, 9 Yarra Street, South Yarra VIC 3141

Signature

print name Michael Boyd capacity Director