LOTUS RESOURCES LIMITED — Major Shareholding Notification 2021

Mar 3, 2021

Form 604

Section 671B

Corporations Act 2001

Notice of change of interests of substantial holder

To Company Name/Scheme Lotus Resources Limited ACN/ARSN 119 992 175

1. Details of substantial holder (1)

Name Paladin Energy Ltd ( Paladin ) and each of the entities listed in Annexure “A” ( Paladin Group Entities )

ACN/ARSN (if applicable) See Annexure “A”

There was a change in the interests of the substantial holder on

04 / 03 / 2021

The previous notice was given to the company 22 / 01 / 2021 on The previous notice was dated 22 / 01 / 2021

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)
Fully paid ordinary shares	90,000,000	11.07%	90,000,000	9.55%

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 securities affected	Person's votes affected
18/01/2021 to 04/03/2021	Paladin and each of the Paladin Group Entities	Dilution due to issue of shares in Lotus Resources upon conversion of options, share placement	N/A	90,000,000	90,000,0000

4. Present relevant interests

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

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
Paladin	Paladin	Paladin	Registered holder	90,000,000 fully paid ordinary shares	90,000,000

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:

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
N/A	N/A

6. Addresses

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

Name

Address

Paladin Level 4, 502 Hay Street, Subiaco, WA 6008 Each Paladin Group Entity Level 4, 502 Hay Street, Subiaco, WA 6008

Signature

re
print name	Nathan Bartrop		capacity	Company Secretary
sign here			date	04/03/2021

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.

• (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 person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (6) Include details of:

• (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. 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 arrangement; and

• (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 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.

• (7) 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 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.

• (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) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

Annexure A

This is Annexure A of 1 page referred to in the Form 604 (Notice of Change of Interests in Substantial Holder), signed by me and dated 4 March 2021.

___ Nathan Bartrop Group Company Secretary

___ Nathan Bartrop Group Company Secretary
Paladin Group Entities	ACN(if applicable)
Paladin EnergyMinerals PtyLtd	073 700 393
Summit Resources PtyLtd	009 474 775
Pacific Mines PtyLtd	101 437 085
Summit Resources(Aust)PtyLtd	009 188 078
NGM Resources PtyLtd	107 131 653
Fusion Resources PtyLtd	100 287 385
Paladin NT PtyLtd	131 890 134
Valhalla Uranium PtyLtd	116 370 720
Mt Isa Uranium PtyLtd	064 536 483
Eden Creek PtyLtd	008 958 610
Paladin Intellectual PropertyPtyLtd	168 630 288
Paladin Finance PtyLtd	117 234 278
Paladin Nuclear PtyLtd	125 124 156
Paladin Employee Plan PtyLtd	144 956 070
PEM Malawi PtyLtd	128 358 225
Langer Heinrich Mauritius Holdings Limited	-
Langer Heinrich Uranium(Pty)Ltd	-
Paladin Netherlands Holdings Co-Operative U.A.	-
Paladin Netherlands B.V.	-
Paladin Canada Holdings(NL)Ltd	-
Paladin Canada Investments(NL)Ltd	-
Michelin Uranium Ltd	-
Paladin EnergyCanada Ltd	-
AuroraEnergyLtd	-