ILUKA RESOURCES LIMITED — Major Shareholding Notification 2016

Feb 24, 2016

Level 25, 1 O'Connell Street
Sydney NSW 2000 Australia

GPO Box 3909 Sydney NSW 2001 DX 69 Sydney

T +61 2 8248 5800 F +61 2 8248 5899

Our ref DRZ:HHJ:3624165

25 February 2016

The Company Secretary Iluka Resources Limited By facsimile: +61 8 9360 4777

Companies Announcements Office Australian Securities Exchange By facsimile: 1300 135 638

Dear Sir/Madam

ASIC Form 604: Notice of change of interests of substantial holder Iluka Resources Limited (ASX:ILU)

Please find enclosed an ASIC Form 604 for lodgement by SailingStone Capital Partners LLC.

Yours faithfully THOMSON GEER

$\sum_{\omega \sim \omega} \frac{1}{\omega} \sum_{i=1}^{n}$

David Zwi Partner T +61 2 8248 3414 M 0419 284 143 E dzwi@tglaw.com.au

encl

$\mathcal{L}^{\text{max}}(\mathcal{L}^{\text{max}})$

604 page 1/3 15 July 2001

Form 604 Corporations Act 2001
Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme		ILUKA RESOURCES LIMITED
ACN/ARSN	008 675 018
1. Details of substantial holder (1) Name		SailingStone Capital Partners LLC
ACN/ARSN (if applicable)	N/A
There was a change in the interests of the
substantial holder on		16/02/2016
The previous notice was given to the company on		03/09/2014
The previous notice was dated		03/09/2014

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		Present notice
		Person's votes	Voting power (5)	Person's votes	Voting power (5)
	Ordinary shares	42.324.774	110.11%	37,979.189	9.07%

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 lsecurities affected	Person's votes affected
3/09/2014	SailingStone Capital Partners LLC (SallingStone)	Acquisition of further Ishares	\$814,566.80	89,710 ordinary shares	89,710 ordinary shares
5/09/2014	SailingStone	Acquisition of further Ishares	\$537.562.20	60,130 ordinary shares	60,130 ordinary shares
8/09/2014	SailingStone	Sale of shares	\$281.220.00	32,250 ordinary shares	32,250 ordinary shares
9/09/2014	SallingStone	Acquisition of further Ishares	\$739,501.00	83,090 ordinary shares	83,090 ordinary shares
11/09/2014	SailingStone	Acquisition of further lshares	\$618.261.00	69,860 ordinary shares	69,860 ordinary shares
15/09/2014	SailinoStone	Acquisition of further Ishares	5270.432.80	31,120 ordinary shares	31,120 ordinary shares
16/09/2014	SailingStone	Acquisition of further shares	5801.937.80	91,860 ordinary shares	91,860 ordinary shares
17/09/2014	SailingStone	Acquisition of further Ishares	5364,914.00	41,800 ordinary shares	41,800 ordinary shares
18/09/2014	SailingStone	Acquisition of further shares	5839.646.00	98,550 ordinary shares	98,550 ordinary shares
19/09/2014	SallingStone	Acquisition of further shares	5814.867.20	96,320 ordinary shares	96,320 ordinary shares
22/09/2014	SallingStone	Acquisition of further Ishares	5447,404.80	52,760 ordinary shares	52,760 ordinary shares
24/09/2014	SailingStone	Sale of shares	\$2,122,684.00	252,400 ordinary shares	252,400 ordinary shares
24/09/2014	SailingStone	Sale of shares	\$6,103,725.70	725,770 ordinary shares	725,770 ordinary shares
26/09/2014	SallingStone	Acquisition of further Ishares	\$657,128.40	80,040 ordinary shares	80,040 ordinary shares

30/09/2014 SailingStone \$1,087,893.20 Sale of shares 136,670 ordinary shares 136,670 ordinary shares Acquisition of further \$284,719.50 1/10/2014 SailingStone 36,270 ordinary shares 36,270 ordinary shares shares 3/10/2014 SallingStone Sale of shares 22,268 ordinary shares \$170,127,52 22,268 ordinary shares Acquisition of further \$463,141.00 6/10/2014 SailingStone 60,700 ordinary shares 60,700 ordinary shares shares Acquisition of further
7/10/2014 SailingStone \$229,383.00 29.790 ordinary shares 29,790 ordinary shares sharos
Acquisition of further \$863,345.80 8/10/2014 SallingSton e 115,730 ordinary shares 115,730 ordinary shares shares
Acquisition of further 9/10/2014 \$507,000.00 SailingStone 65,000 ordinary shares 65,000 ordinary shares shares
Acquisition of further 10/10/2014 \$361,725.00 SailingStone 48,230 ordinary shares 48,230 ordinary shares shares
16/10/2014 SailingStone Sele of shares \$564,329.96 76,364 ordinary shares 76,364 ordinary shares
Acquisition of further \$167,765.00 21/10/2014 SailingStone 22,250 ordinary shares 22,250 ordinary shares shares
Acquisition of further 23/10/2014 SailingStone \$189,641.20 24,920 ordinary shares 24,920 ordinary shares shares
SallingStone Sale of shares 28/10/2014 \$320,354.30 43,645 ordinary shares 43,645 ordinary shares
Acquisition of further 4/11/2014 SailingStone \$489.738.90 69,270 ordinary shares 69.270 ordinary shares shares
5/11/2014 Sale of shares SailingStone \$5,858,970.24 846,672 ordinary shares 846,672 ordinary shares
7/11/2014 Sale of shares SailingStone \$882,050.00 123,150 ordinary shares 123,150 ordinary shares
Acquisition of further \$332,270.40 18/11/2014 SailingStone 47,740 ordinary shares 47,740 ordinary shares shares
Acquisition of further 25/11/2014 SailingStone \$154,656,00 21,600 ordinary shares 21,600 ordinary shares shares
Acquisition of further \$456,528.20 26/11/2014 SailingStone 64,940 ordinary shares 64,940 ordinary shares shares
Acquisition of further 27/11/2014 SallingStone \$180,779.90 25,570 ordinary shares 25,570 ordinary shares shares
Acquisition of further 1/12/2014 \$147,479.00 SallingStone 21,220 ordinary shares 21,220 ordinary shares sharos
Acquisition of further 2/12/2014 SailingStone \$1,557,164,40 232,760 ordinary shares 232,760 ordinary shares snaros Redemption/outflow
4/12/2014 SallingStone 556.1140.07 100,612 ordinary shares 100,612 ordinary shares of shares Acquisition of further
5/12/2014 SallingStone 51,034,630.00 157,000 ordinary shares 157,000 ordinary shares shares
5/12/2014 SallingStone Sale of shares \$659,406,00 99,910 ordinary shares 99,910 ordinary shares Acquisition of further
8/12/2014 SailingStone \$672,238.20 104,710 ordinary shares 104,710 ordinary shares shares
8/12/2014 SallingStone Sale of shares \$386,617,60 60,409 ordinary shares 60,409 ordinary shares 9/12/2014 Sale of shares
SallingStone \$830,210.00 136,100 ordinary shares 136,100 ordinary shares Acquisition of further \$514,507.50 11/12/2014 SailingStone 87,950 ordinary shares
87,950 ordinary shares shares SailingStone 15/12/2014 Sale of shares \$4,777,000.00 850,000 ordinary shares (850,000 ordinary shares
Acquisition of further \$743,200.20 16/12/2014 SailingStone 126,180 ordinary shares 126,180 ordinary shares
shares SailingStone Sale of shares 16/12/2014 \$5,192,700.24 889,161 ordinary shares 889,161 ordinary shares
Sale of shares 16/12/2014 SailingStone 515,411.76 2,639 ordinary shares 2,639 ordinary shares
SailingStone Sale of shares 17/12/2014 \$3,801,104.37 663,369 ordinary shares 663,369 ordinary shares
Acquisition of further \$480,324.60 18/12/2014 SallingStone 82,530 ordinary shares 82,530 ordinary shares
shares Sale of shares 18/12/2014 SailingStone 5641.689.92 110,256 ordinary shares 110,256 ordinary shares
Acquisition of further \$1,307,671.20 19/12/2014 SailingStone 206,910 ordinary shares 206,910 ordinary shares shares
SallingStone Sale of shares 22/12/2014 \$602,863.20 97,236 ordinary shares 97,236 ordinary shares

$\mathcal{A}^{\mathcal{A}}$

				604	раде 2/3 15 July 2001
30/12/2014	SailingStone	Acquisition of further shares	\$805,266.80	134,660 ordinary shares	134,660 ordinary shares
31/12/2014	SallingStone	Acquisition of further shares	\$102,900.00	17,150 ordinary shares	17,150 ordinary shares
2/01/2015	SallingStone	Acquisition of further shares	5987,540.00	164,590 ordinary shares	164,590 ordinary shares
5/01/2015	SailingStone	Acquisition of further shares	\$862,851.00	142,620 ordinary shares	142,620 ordinary shares
6/01/2015	SailingStone	Acquisition of further Ishares	5440.431.20	73,040 ordinary shares	73,040 ordinary shares
12/01/2015	SailingStone	Acquisition of further Ishares	\$1,253,314.60	200,210 ordinary shares	200,210 ordinary shares
15/01/2015	SailingStone	Acquisition of further shares	\$151,032.00	23,200 ordinary shares	23,200 ordinary shares
27/01/2015	SailingStone	Sale of shares	\$627,946.02	89,451 ordinary shares	89,451 ordinary shares
30/01/2015	SailingStone	Acquisition of further shares	\$1,364,407.00	192,170 ordinary shares	192,170 ordinary shares
2/02/2015	SailingStone	Acquisition of further shares	\$472,731.60	66,770 ordinary shares	66,770 ordinary shares
3/02/2015	SailingStone	Acquisition of further shares	\$830,560.50	117,810 ordinary shares	117,810 ordinary shares
5/02/2015	SailingStone	Acquisition of further shares	\$723,131.20	99,880 ordinary shares	99,880 ordinary shares
5/02/2015	SailingStone	Sale of shares	\$189,564.92	26,183 ordinary shares	26,183 ordinary shares
10/02/2015	SailingStone	Acquisition of further shares	\$2,710,440.00		376,450 ordinary shares (376,450 ordinary shares
11/02/2015	SailingStone	Acquisition of further shares	\$1,463,271.60		204,940 ordinary shares 204,940 ordinary shares
12/02/2015	SailingStone	Acquisition of further shares	\$387,037.70	53,830 ordinary shares	53,830 ordinary shares
19/02/2015	SailingStone	Acquisition of further shares	\$341,609.40	43,740 ordinary shares	43,740 ordinary shares
20/02/2015	SailingStone	Acquisition of further shares	\$388,749.50	51,490 ordinary shares	51,490 ordinary shares
24/02/2015	SailingStone	Acquisition of further shares	\$506,357.30	66,890 ordinary shares	66,890 ordinary shares
25/02/2015	SailingStone	Acquisition of further shares	\$66,946.00	8,950 ordinary shares	8,950 ordinary shares
27/02/2015	SallingStone	Acquisition of further shares	\$389,707.20	50,220 ordinary shares	50,220 ordinary shares
2/03/2015	SailingStone	Acquisition of further shares	\$72,321.60	9,120 ordinary shares	9,120 ordinary shares
2/03/2015	SailingStone	Redemption/outflow of shares Redemption/outflow	\$1,222,417.80		147,635 ordinary shares 147,635 ordinary shares
2/03/2015	SailingStone	of shares Acquisition of further	\$834,466.68	100,781 ordinary shares	100,781 ordinary shares
3/03/2015	SallingStone	shares	5649,198.60	77,470 ordinary shares	77,470 ordinary shares
3/03/2015	SailingStone	Sale of shares	\$4,259,930.30	517,610 ordinary shares	517,610 ordinary shares
4/03/2015	SailingStone	Acquisition of further shares	\$202,637.70	24,210 ordinary shares	24,210 ordinary shares
9/03/2015	SailingStone	Acquisition of further shares	\$228,480.00	28,560 ordinary shares	28,560 ordinary shares
10/03/2015	SailingStone	Acquisition of further shares	51 513,843.20		185,520 ordinary shares 185,520 ordinary shares
11/03/2015	SailingStone	Sale of shares Acquisition of further	57.034,162.60		882,580 ordinary shares 882,580 ordinary shares
13/03/2015	SallingStone	shares Acquisition of further	51.068,055.60		136,580 ordinary shares 136,580 ordinary shares
17/03/2015	SallingStone	shares Acquisition of further	\$866,353.60		115,360 ordinary shares 115,360 ordinary shares
20/03/2015	SailingStone	shares	\$582,841.00	78,550 ordinary shares	78,550 ordinary shares
23/03/2015	SallingStone	Sale of shares	\$947,420,00	127,000 ordinary shares	127,000 ordinary shares
24/03/2015	SallingStone	Salo of shares Acquisition of further	\$971,700.00	123,000 ordinary shares	123,000 ordinary shares
25/03/2015	SailingStone	shares	\$528,436.50	66,470 ordinary shares	66,470 ordinary shares
25/03/2015	SallingStone	Sale of shares	\$1,054,154,10		132,765 ordinary shares 132,765 ordinary shares

J.

$\bar{\beta}$

$\bar{\beta}$

				604	15 July 2001 page $2/3$
30/03/2015	SallingStone	Acquisition of further shares	\$176,502.30	21,710 ordinary shares	21,710 ordinary shares
1/04/2015	SallingStone	Acquisition of further shares	\$83,883,80	10,010 ordinary shares	10,010 ordinary shares
2/04/2015	SallingStone	Acquisition of further shares	\$848,260.00	102,200 ordinary shares	102,200 ordinary shares
16/04/2015	SailingStone	Acquisition of further shares	\$778,589.30	97,690 ordinary shares	97,690 ordinary shares
17/04/2015	SailingStone	Acquisition of further shares	\$463,778.00	59,080 ordinary shares	59,080 ordinary shares
20/04/2015	SallingStone	Acquisition of further shares	\$396,379.20	52,710 ordinary shares	52,710 ordinary shares
22/04/2015	SailingStone	Acquisition of further shares	\$495,725.00	62,750 ordinary shares	62,750 ordinary shares
27/04/2015	SailingStone	Acquisition of further Ishares	\$651,655.90	78,230 ordinary shares	78,230 ordinary shares
1/05/2015	SailingStone	Acquisition of further shares	\$633,046.90	75,814 ordinary shares	75,814 ordinary shares
4/05/2015	SailingStone	Acquisition of further shares	\$1,602,889.00	185,950 ordinary shares	185,950 ordinary shares
5/05/2015	SailingStone	Acquisition of further Ishares	\$654,549.00	74,550 ordinary shares	74,550 ordinary shares
18/05/2015	SailingStone	Acquisition of further Ishares	\$1,004,598.00	113,900 ordinary shares	113,900 ordinary shares
20/05/2015	SailingStone	Acquisition of further shares	51.816.122.30	212,910 ordinary shares	212,910 ordinary shares
25/05/2015	SailingStone	Acquisition of further shares	\$2,513,700.00	285,000 ordinary shares	285,000 ordinary shares
27/05/2015	SallingStone	Acquisition of further shares	\$1,807,185.00		212,610 ordinary shares 212,610 ordinary shares
1/06/2015	SailingStone	Acquisition of further shares	\$715,918.50	80,350 ordinary shares	80,350 ordinary shares
2/06/2015	SailingStone	Acquisition of further shares	5314,259.00	35,310 ordinary shares	35,310 ordinary shares
4/06/2015	SailingStone	Acquisition of further shares	\$432,901.70	51,110 ordinary shares	51,110 ordinary shares
5/06/2015	SailingStone	Acquisition of further shares	\$578,854.38	69,407 ordinary shares	69,407 ordinary shares
15/06/2015	SailingStone	Redemption/outflow of shares	\$1,138,280.52		133,601 ordinary shares 133,601 ordinary shares
19/06/2015	SallingStone	Sale of shares	\$1,470,436.60		179,980 ordinary shares 179,980 ordinary shares
26/06/2015	SailingStone	Acquisition of further shares Acquisition of further	\$335,058.80	42,040 ordinary shares	42,040 ordinary shares
29/06/2015	SailingStone	shares Acquisition of further	\$1,075,324.00	141,490 ordinary shares	141,490 ordinary shares
30/06/2015	(SallingStone	shares Acquisition of further	\$915,456.00	122,880 ordinary shares	122,880 ordinary shares
1/07/2015	SallingStone	shares Acquisition of further	\$494,000.00	65,000 ordinary shares	65,000 ordinary shares
10/07/2015	SailingStone	lshares	\$726,682.00	98,600 ordinary shares	98,600 ordinary shares
10/07/2015	SailingStone	Sale of shares Acquisition of further	\$227,779.60	31,160 ordinary shares	31,160 ordinary shares
16/07/2015	SailingStone	lshares Acquisition of further	\$2,153,788.50	279,350 ordinary shares 279,350 ordinary shares
17/07/2015	SailingStone	shares Acquisition of further	\$1,102,253.40	142,410 ordinary shares 142,410 ordinary shares
29/07/2015	SailingStone	shares Acquisition of further	\$1,272,218.40	162,480 ordinary shares 162,480 ordinary shares
3/08/2015	SailingStone	shares Acquisition of further	5376,006.40	47,960 ordinary shares	47,960 ordinary shares
4/08/2015	SailingStone	shares Acquisition of further	\$488,518.20 \$222,414.50	64,110 ordinary shares	64,110 ordinary shares
6/08/2015 21/08/2015	SallingStone SallingStone	shares Acquisition of further	\$311,169.60	29,150 ordinary shares	29,150 ordinary shares
25/08/2015	SailingStone	shares Acquisition of further	\$5,397,695,20	41,160 ordinary shares 757,040 ordinary shares	41,160 ordinary shares 757,040 ordinary shares
28/08/2015	SallingStone	shares Salo of shares	\$10,071.175.04	1,339,252 ordinary	1,339,252 ordinary
1/09/2015	SallingStone	Acquisition of further	52,563,629.30	shares 343,190 ordinary shares 343,190 ordinary shares	shares
		shares

				604	page 2/3 15 July 2001
2/09/2015	SailingStone	Acquisition of further shares	\$1,167,898.80	162,660 ordinary shares	162,660 ordinary shares
14/09/2015	SallingStone	Acquisition of further shares	\$764.335.00	106,900 ordinary shares	106,900 ordinary shares
21/09/2015	SailingStone	Acquisition of further shares	\$122,644.80	18,360 ordinary shares	18,360 ordinary shares
23/09/2015	SailingStone	Sale of shares	\$1,146,164.85	174,987 ordinary shares	174,987 ordinary shares
25/09/2015	SailingStone	Sale of shares	\$1,142,434.80	180,765 ordinary shares	180,765 ordinary shares
25/09/2015	SailingStone	Sale of shares	\$798,750.00	125,000 ordinary shares	125,000 ordinary shares
28/09/2015	SailingStone	Sale of shares	\$662,794.00	103,400 ordinary shares	103,400 ordinary shares
20/09/2015	SallingStone	Sale of shares	\$94,666.95	15,393 ordinary shares	15,393 ordinary shares
30/09/2015	SailingStone	Acquisition of further shares	\$1,252,804.80	200,770 ordinary shares	200,770 ordinary shares
30/09/2015	SallingStone	Sale of shares	\$340,450.00	55,000 ordinary shares	55,000 ordinary shares
1/10/2015	SallingStone	Acquisition of further shares	\$177,746.80	27,860 ordinary shares	27,860 ordinary shares
2/10/2015	SailingStone	Acquisition of further shares	\$190,119.00	29,940 ordinary shares	29.940 ordinary shares
12/10/2015	SailingStone	Acquisition of further shares	\$532,978.60	71,830 ordinary shares	71,830 ordinary shares
13/10/2015	SallingStone	Acquisition of further shares	5422,875.40	58,570 ordinary shares	58,570 ordinary shares
13/10/2015	SailIngStone	Sale of shares	(\$2,187,812.46	302,602 ordinary shares	302,602 ordinary shares
16/10/2015	SallingStone	Sale of shares	\$1,333,437.04	197,254 ordinary shares	197,254 ordinary shares
21/10/2015	SallingStone	Acquisition of further shares	\$162,000.00	25,000 ordinary shares	25,000 ordinary shares
21/10/2015	SailingStone	Sale of shares	5366,217.72	56,428 ordinary shares	56,428 ordinary shares
27/10/2015	SailingStone	Acquisition of further shares	\$1,239,945.00	180,750 ordinary shares	180,750 ordinary shares
29/10/2015	SallingStone	Acquisition of further shares	\$4,417,245.00	663,250 ordinary shares	663,250 ordinary shares
30/10/2015	SailingStone	Sale of shares	\$221,978.30	34,630 ordinary shares	34,630 ordinary shares
2/11/2015	SailingStone	Acquisition of further shares	\$2,534,401.80	396,620 ordinary shares 396,620 ordinary shares
3/11/2015	SailingStone	Acquisition of further shares	\$813,376.80	124,560 ordinary shares 124,560 ordinary shares
6/11/2015	SailingStone	Acquisition of further shares in-kind inflow of	53.077.032.00	477,800 ordinary shares 477,800 ordinary shares
10/11/2015	SailingStone	shares Acquisition of further	\$2,506,122.96	395,912 ordinary shares 395,912 ordinary shares
23/11/2015	SailingStone	shares	\$1,013,632.00	158,380 ordinary shares	158,380 ordinary shares
24/11/2015	SailingStone	Sale of shares	\$3,143,671.60	515,356 ordinary shares 515,356 ordinary shares
25/11/2015	SailingStone	Sale of shares Acquisition of further	\$3,317,159,40	551,940 ordinary shares	551,940 ordinary shares
26/11/2015	SallingStone	shares Acquisition of further	\$560,934.80	92,870 ordinary shares	92,870 ordinary shares
1/12/2015	SallingStone	shares Acquisition of further	\$2,213,261.40	380,940 ordinary shares	380,940 ordinary shares
2/12/2015	SailingStone	Ishares	\$94,250.00	16,250 ordinary shares	16,250 ordinary shares
2/12/2015	SallingStone	Sale of shares	\$164,551.80	28,420 ordinary shares	28,420 ordinary shares
3/12/2015	SailingStone	Sale of shares	\$2,917,513.10	516,374 ordinary shares	516,374 ordinary shares
10/12/2015	SailingStone	Sale of shares Acquisition of further	\$470.426.60	92,060 ordinary shares	92,060 ordinary shares
17/12/2015	SallingStone	shares Acquisition of further	\$1,251,303.20	(228,340 ordinary shares	228,340 ordinary shares
18/12/2015	SailingStone	shares	(\$4,005,000.00	750,000 ordinary shares 1,094,272 ordinary	750,000 ordinary shares 1,094.272 ordinary
18/12/2015	SailingStone	Sale of shares	\$5,843,412.48	shares	shares

$\sim$

				604	page 2/3 15 July 2001
21/12/2015	SailingStone	Sale of shares	\$2,680,000.00	500,000 ordinary shares	500,000 ordinary shares
23/12/2015	SallingStone	Acquisition of further shares	\$255,569.60	44,680 ordinary shares	44,680 ordinary shares
29/12/2015	SallingStone	Acquisition of further shares	\$1,750,284.27	287,403 ordinary shares	287,403 ordinary shares
30/12/2015	SailingStone	Acquisition of further shares	\$2,159,500.00	350,000 ordinary shares	350,000 ordinary shares
30/12/2015	SailingStone	Sale of shares	\$5,852,000.00	950,000 ordinary shares	950,000 ordinary shares
31/12/2015	SailingStone	Acquisition of further shares	\$1,957,114.50	318,230 ordinary shares	318,230 ordinary shares
31/12/2015	SailingStone	Sale of shares	\$3,065,000.00	500,000 ordinary shares	500,000 ordinary shares
31/12/2015	SailingStone	Sale of shares	\$691.057.00	112,550 ordinary shares	112,550 ordinary shares
4/01/2016	SailingStone	Acquisition of further shares	\$3,998,838.00	642,900 ordinary shares	642,900 ordinary shares
4/01/2016	SailingStone	Sale of shares	52.496.012.27	403,233 ordinary shares	403,233 ordinary shares
5/01/2016	SailingStone	Sale of shares	5921,979.52	149,672 ordinary shares	149,672 ordinary shares
13/01/2016	SallingStone	Acquisition of further shares	\$296,240.00	56,000 ordinary shares	56,000 ordinary shares
13/01/2016	SailingStone	Sale of shares	\$4,337,894.00	806,300 ordinary shares	806,300 ordinary shares
21/01/2016	SailingStone	Sale of shares	\$4,959,000.00	900,000 ordinary shares	900,000 ordinary shares
29/01/2016	SailingStone	Acquisition of further shares	\$570,555.00	102,250 ordinary shares	102,250 ordinary shares
1/02/2016	SailingStone	Acquisition of further shares	53,899,000.00	700,000 ordinary shares	700,000 ordinary shares
4/02/2016	SailingStone	Sale of shares	\$553.850.42	99,973 ordinary shares	99,973 ordinary shares
8/02/2016	SallingStone	Sale of shares	\$534,642.90	85,270 ordinary shares	85,270 ordinary shares
9/02/2016	SailingStone	Acquisition of further shares	\$243,200.00	38,000 ordinary shares	38,000 ordinary shares
11/02/2016	SailingStone	Sale of shares	\$13,409,866.50	2,111,790 ordinary shares	2,111,790 ordinary shares
12/02/2016	SailingStone	Sale of shares	\$2,853,499.35	442,403 ordinary shares	442,403 ordinary shares
12/02/2016	SailingStone	Sale of shares	5146.638.80	22,770 ordinary shares	22,770 ordinary shares
16/02/2016	SailingStone	Sale of shares	\$4,760,000.00	700,000 ordinary shares	700,000 ordinary shares

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of	Registered	Person entitled	Nature of	Class and	Person's votes
relevant	holder of	to be registered	relevant	number of
interest	securities	as holder (8)	interest (6)	securities
SailingStone	IBNY Mellon: Northern Trust: RBC: lits relevant IState Street: JP Morgan: Credit lSuisse: UBS	SailingStone holds linterest in its lcapacity as linvestment Imanager for a Irange of client loortfolios.	SallingStone holds its Irelevant interest bv having the power to lexercise, control the exercise of or disposal of the securities to which ithe relevant interest lrelations in the ordinary lcourse of Investment management business.	37,979,189 ordinary 9.07% Ishares

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:

604 page 2/3 15 July 2001

and Name applicable ®	(if ACN/ARSN __	______ Nature of association ----
		------ ---

6. Addresses

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

÷

Name	Address
SailingStone Capital Partners LLC	(One California Street, 30th Floor, San Francisco, CA 94111 USA

Signature

print name Kathlyne Kiale	capacity	Chief Compliance Officer
sign here Kathline Kaie	date	25/02/2016

; +61 2 8249 5899 # $9/$ 9

604 page 3/3 15 July 2001

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.
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$
• $(6)$ Include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy $(a)$ 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
• 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 $(b)$ 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.

• 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,
  become entitled to receive in relation to that acquisition. Details m $(7)$ contingency. Details must be included on 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.
• $(3)$ 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.