HIGHFIELD RESOURCES LIMITED — Share Issue/Capital Change 2017

Nov 28, 2017

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ANNOUNCEMENT TO AUSTRALIAN SECURITIES EXCHANGE

29 November 2017

ASX Limited Companies Announcement Office Electronic Lodgement System

Lapse of Class B Performance Shares

Highfield Resources Limited (Company) hereby provides notice to the ASX that 50,000,000 Class B Performance Shares have lapsed.

The Class B Performance Shares were issued on the basis that they would be converted to ordinary shares upon the receipt, to the reasonable satisfaction of Highfield, of all referral approvals required to construct and operate a 500,000 tonne per annum potash mine on the Muga Project (including all required government approvals, water and energy contracts necessary to operate the mine) prior to 18 October 2017, being the expiry date of the performance shares. The Directors’ assessment is that the vesting conditions have not been met and therefore the performance shares have lapsed.

This lapse of Class B Performance Shares will be reflected on the next Appendix 3B lodged by the Company.

Yours Faithfully,

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Donald Stephens Company Secretary

Highfield Resources Ltd. ACN 153 918 257 ASX: HFR

Registered Office

Head Office

C/– HLB Mann Judd 169 Fullarton Road Dulwich, SA 5065 Australia

Avenida Carlos III, 13 - 1°B, 31002 Pamplona, Spain

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T. +61 8 8133 5000 F. +61 8 8431 3502

• T. +34 948 050 577 F. +34 948 050 578

Directors

Derek Carter Peter Albert Pauline Carr Richard Crookes Jim Dietz Owen Hegarty

Company Secretary

Donald Stephens

highfieldresources.com.au