KALI METALS LIMITED — Major Shareholding Notification 2024

Jan 9, 2024

603 page 2/2

15 July 2001

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme

Kali Metals Limited ( Company )

ACN/ARSN

653 279 371

1. Details of substantial holder (1)

Mineral Resources Limited ( MinRes ) and its related bodies corporate as set out in in Annexure A ( MinRes Name Group ). ACN/ARSN (if applicable) 118 549 910 The holder became a substantial holder on 08/01/2024

2. Details of 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 on the date the substantial holder became a substantial holder are as follows:

Class of securities(4)	Number of securities	Person’s votes(5)	Voting power(6)
Fully paid ordinary shares (Shares)	14,366,786	14,366,786	9.97%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became substantial holder are as follows:

er are as follows:
Holder of relevant interest	Nature of relevant interest(7)	Class and number of securities
Lithium Resources Operations Pty Ltd	Relevant interest under section 608(1)(a) of the_Corporations Act_ _2001_Cth (Corporations Act) as the holder of the Shares.	14,366,786 Shares
MinRes Group	Relevant interest under section 608(3) of the Corporations Act as a member of the MinRes Group.	14,366,786 Shares
There has been media publicity regarding a shareholding of MinRes Managing Director Chris Ellison in the Company of 4.85%. To avoid confusion, those shares are held by an entity controlled by Mr Ellison in his personal capacity. MinRes does not have a relevant interest or voting power in those shares and accordingly they do not form part of the MinRes interest disclosed in this notice.

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder(8)	Class and number of securities
Lithium Resources Operations Pty Ltd	Lithium Resources Operations Pty Ltd	Lithium Resources Operations Pty Ltd	13,000,000 Shares
MinRes and each MinRes Group entity	Lithium Resources Operations Pty Ltd	Lithium Resources Operations Pty Ltd	13,000,000 Shares
Lithium Resources Operations Pty Ltd	Various market participants	Lithium Resources Operations Pty Ltd	1,366,786 Shares
MinRes and each MinRes Group entity	Various market participants	Lithium Resources Operations Pty Ltd	1,366,786 Shares

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration (9)	Consideration (9)	Class and number of securities
		Cash	Non-cash
Lithium Resources Operations Pty Ltd	8 January 2024	$5,526,300	N/A	13,000,000 Shares
Lithium Resources Operations Pty Ltd	9 January 2024	$658,107	N/A	1,366,786 Shares

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if Nature of association applicable) MinRes and each MinRes Group See Annexure A entity

7. Addresses

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

Name	Address
MinRes and each MinRes Group entity	See Annexure A

Signature

print name Derek Oelofse capacity Company Secretary
sign here date 10/01/2024
DIRECTIONS
ber of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the
stee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons
milar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the
esses of members is clearly set out in paragraph 7 of the form.
of "associate" in section 9 of the Corporations Act 2001.

• (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 7 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 total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.

• (6) The person’s votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (7) Include details of:

• (a) any relevant agreement or other circumstances by which the relevant interest was acquired. 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

• (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 t d 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.

• (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) Details of the consideration must include any and all benefits, moneys 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 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.

Annexure A

This is Annexure A of 4 pages referred to in Form 603 (Notice of initial substantial holder).

To company name: Kali Metals Limited ACN: 653 279 371

---

Name: Derek Oelofse

Title: GM Corporate Finance and Company Secretary Date: 10 January 2024

MinRes Group Entities

Name	Company Number	Nature of association	Address
Lithium Resources Operations Pty Ltd	657 042 218	Holder of the securities	20 Walters Drive, Osborne Park WA 6017
Mineral Resources Limited	118 549 910	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
ACN 611 494 912 Pty Ltd	611 494 912	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
ACN 611 495 268 Pty Ltd	611 495 268	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
ACN 616 667 442 Pty Ltd	616 667 442	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
ACN 616 677 797 Pty Ltd	616 677 797	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
ACN 616 678 249 Pty Ltd	616 678 249	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
ACN 625 973 006 Pty Ltd	625 973 006	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
ACN 629 923 753 Pty Ltd	629 923 753	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
ACN 629 927 911 Pty Ltd	629 927 911	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
ACN 632 334 037 Pty Ltd	632 334 037	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
ACN 632 334 975 Pty Ltd	632 334 975	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
ACN 634 817 244 Pty Ltd	634 817 244	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
ACN 634 841 811 Pty Ltd	634 841 811	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
ACN 641 843 987 Pty Ltd	641 843 987	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
ACN 654 242 690 Pty Ltd	654 242 690	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
ACN 664 123 291 Pty Ltd	664 123 291	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
A.C.N. 665 883 509 Pty Ltd	665 883 509	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
A.C.N. 665 973 964 Pty Ltd	665 973 964	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
A.C.N. 665 974 292 Pty Ltd	665 974 292	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
A.C.N. 665 899 614 Pty Ltd	665 899 614	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017

Name	Company Number	Nature of association	Address
A.C.N. 669 538 809 Pty Ltd	669 538 809	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
A.C.N. 671 531 963 Pty Ltd	671 531 963	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
A.C.N. 672 099 384 Pty Ltd	672 099 384	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
A.C.N. 672 127 310 Pty Ltd	672 127 310	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
A.C.N. 673 265 828 Pty Ltd	673 265 828	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
A.C.N. 673 442 950 Pty Ltd	673 442 950	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
A.C.N. 673 443 948 Pty Ltd	673 443 948	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Aggregate Crushing Australia Pty Ltd	147 325 228	Related Body Corporate	Level 3, 14 Walters Drive, Osborne Park WA 6017
Ashburton Properties Pty Ltd	649 043 112	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Australian Garnet Pty Ltd	646 741 157	Related Body Corporate	Level 3, 14 Walters Drive, Osborne Park WA 6017
Auvex Resources Pty Ltd	129 087 832	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Bauxite Mineral Resources Pty Ltd	627 949 544	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Binding Solutions Limited	UK register no 10394084	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Buckland Minerals Transport Pty Ltd	152 574 082	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Bulk Ore Shuttle System Pty Ltd	621 413 803	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Bungaroo South Pty Ltd	152 574 528	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Cape Preston Logistics Pty Ltd	152 574 233	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Central Systems Pty Ltd	107 284 319	Related Body Corporate	Level 3, 14 Walters Drive, Osborne Park WA 6017
Comcen Pty Ltd	161 487 930	Related Body Corporate	Level 3, 14 Walters Drive, Osborne Park WA 6017
Concrete Construction (W.A.) Pty Ltd	667 369 726	Related Body Corporate	Level 3, 14 Walters Drive, Osborne Park WA 6017
Crushing Services International Pty Ltd	069 303 377	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Crushing Service Solutions Pty Ltd	151 387 709	Related Body Corporate	Level 3, 14 Walters Drive, Osborne Park WA 6017
Eclipse Minerals Pty Ltd	097 974 813	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Energy Resources Limited	009 475 423	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Everthere Pty Ltd	130 421 091	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Flotar Pty Ltd	608 310 014	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
G&G Mining Fabrication Pty Ltd	169 498 408	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Graphite Resources Pty Ltd	627 948 332	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Gulf Conveyor Systems (WA) Pty Ltd	655 480 292	Related Body Corporate	15 Yanilla Avenue, Wahroonga NSW 2076

Name	Company Number	Nature of association	Address
Hedland Iron Pty Ltd	648 974 681	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Hitec Energy Pty Ltd	140 725 962	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Iron Resources Pty Ltd	626 063 796	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Kumina Iron Pty Ltd	169 725 973	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
LithCo Lithium (Ningbo) Co Ltd	91330206MACC10PD09	Related Body Corporate	2ndFloor, Zaiyu Street Xingye Building, Sanmen County, Taizhou City, Zhejiang Province
Lithco No.2 Pty Ltd	612 726 922	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Lithium Mineral Resources Pty Ltd	627 949 535	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Lithium Resources Pty Ltd	654 457 299	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Lithium Resources Australia Pty Ltd	623 115 088	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Lithium Resources Investments Pty Ltd	666 427 685	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Lithium Resources Services Pty Ltd	666 109 771	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Lithium Resources Trading Pty Ltd	666 153 064	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Lithium Resources UK Ltd	Company Number 14194768	Related Body Corporate	1stFloor, Templeback, 10 Temple Back, Bristol, UK BS1 6FL
Lithium Resources US Co	6947381	Related Body Corporate	251 Little Falls Drive, Wilmington, New Castle County,Delaware 19808
Location 53 Pty Ltd	618 320 773	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Magnetite Mineral Resources Pty Ltd	627 948 832	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
MARBL Lithium Operations Pty Ltd	637 077 608	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Mineral Resources (Equipment) Pty Ltd	162 993 080	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Mineral Resources Rail Pty Ltd	638 631 259	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Mineral Resources Transport Pty Ltd	158 718 195	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Mineral Solutions Australia Pty Ltd	626 914 458	Related Body Corporate	Level 3, 14 Walters Drive, Osborne Park WA 6017
MinRes Child Care Pty Ltd	672 120 295	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
MinRes Health Pty Ltd	629 928 150	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
MinRes Marine Pty Ltd	638 643 919	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
MinRes Properties Pty Ltd	638 657 486	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
MIS. Carbonart Pty Ltd	160 456 922	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
MRL Asset Management Pty Ltd	169 725 964	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
MRL Rail Pty Ltd	169 516 296	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017

Name	Company Number	Nature of association	Address
Mt Marion Holdings Pty Ltd	666 115 742	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Mt Marion Lithium Pty Ltd	138 805 722	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Mt Marion Lithium Management Pty Ltd	666 116 365	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Norwest Energy Pty Ltd	078 301 505	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
OIPO Pty Ltd	664 121 297	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Onslow Infraco Pty Ltd	612 668 201	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Onslow Iron Pty Ltd	649 012 395	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Onslow Steel Pty Ltd	632 334 671	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Ore Sorting Australia Pty Ltd	608 847 445	Related Body Corporate	Level 3, 14 Walters Drive, Osborne Park WA 6017
Peloton Resources Pty Ltd	162 055 941	Related Body Corporate	Level 3, 14 Walters Drive, Osborne Park WA 6017
P.I.H.A. Pty Ltd	061 356 812	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
PIHA (Water) Pty Ltd	162 627 358	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Polaris Metals Pty Ltd	085 223 570	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Process Minerals International Pty Ltd	063 988 894	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Reed Advanced Materials Pty Ltd	142 876 211	Related Body Corporate	1292 Hay Street, West Perth WA 6005
RDG Technologies Pty Ltd	659 814 070	Related Body Corporate	Level 3, 14 Walters Drive, Osborne Park WA 6017
Resource Development Group Limited	149 028 142	Related Body Corporate	Level 3, 14 Walters Drive, Osborne Park WA 6017
Steelpile Pty Ltd	169 849 987	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Tawana Resources Pty Ltd	085 166 721	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Vigor Materials Handling Pty Ltd	602 182 463	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Westranch Holdings Pty Ltd	077 208 952	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Wodgina Lithium Project Services Pty Ltd	666 119 080	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Wodgina Lithium Pty Ltd	611 488 932	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Wonmunna Iron Ore Pty Ltd	169 151 777	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017
Yilgarn Iron Pty Ltd	626 035 078	Related Body Corporate	20 Walters Drive, Osborne Park WA 6017