LATITUDE 66 LIMITED — Capital/Financing Update 2013

Oct 27, 2013

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28 October 2013

[insert Optionholder name] [insert Optionholder address]

Dear Option holder

Non-renounceable entitlement offer

On 28 October 2013, Syndicated Metals Limited ACN 115 768 986 (Company) announced that it would be conducting a non-renounceable entitlement offer of up to approximately 67,988,918 fully paid ordinary shares in the capital of the Company (Shares) on the basis of once (1) new Share (New Share) for every three (3) Shares held at 5.00pm (WST) on 7 November 2013 (Record Date) at an issue price of 3.2 cents per New Share (Entitlement Offer). The Entitlement Offer will raise up to approximately $2.17m (before expenses), if all of the entitlements are taken up (excluding any New Shares that may be issued as a result of any options exercised prior to the Record Date).

The Entitlement Offer is available to all holders of Shares (Shareholders) registered on the Record Date who reside in Australia or New Zealand.

Therefore, an option holder who is resident outside of Australia and New Zealand will not be able to participate in the Entitlement Offer upon exercise of their options.

The Entitlement Offer is being conducted without a prospectus, pursuant to an offer document dated 28 October (Offer Document), in accordance with section 708AA of the Corporations Act 2001 (Cth) as modified by the Australian Securities and Investments Commission Class Order 08/35.

The Offer Document was released to the Australian Securities Exchange (ASX) on 28 October 2013 and is available on the Company’s website at http://www.syndicatedmetals.com.au/ or on the ASX website (company announcements section, ASX code: SMD) at www.asx.com.au.

Under the terms of the options you currently hold, there is no entitlement to participate in the Entitlement Offer unless you exercise your options and are entered onto the register as a Shareholder on or before 5.00 pm (WST) on the Record Date (with a registered address in Australia and New Zealand).

To exercise your options and thereby be eligible to participate in the Entitlement Offer (in respect of the Shares allotted upon exercise of your options), you will need to deliver to the registered office of the Company the following:

1. completed application form to exercise options specifying the number of options to be exercised (Option Exercise Notice);

2. your option certificate covering that number of options; and

3. payment of the exercise price for those options by way of a cheque made payable to the

68A Hay Street, Subiaco WA 6008 - GPO Box 2810 Perth WA 6000 T: +61 8 9380 9440 F: +61 8 9380 9449 info@syndicatedmetals.com.au ACN: 115 768 986 ASX Code: SMD

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Company.

Option Exercise Notices and cleared funds must be received by no later than 5.00 pm (WST) on 30 October.

Each Share allotted as a result of the exercise of an option will rank pari passu with all other issued Shares of the Company.

For further information please contact the Company on +61 8 9380 9440 or the Company’s share registry - Computershare Investor Services Pty Ltd on 1300 850 505 (within Australia) and +61 3 9415 4000 (outside Australia).

Yours sincerely SYNDICATED METALS LIMITED

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Paul Bridson Company Secretary