MACRO METALS LIMITED — Audit Report / Information 2022

Mar 23, 2022

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CHANGE OF AUDITOR

24 March 2022: Australian based iron ore and steel development company, Kogi Iron Limited (ASX: KFE) ( Kogi or the Company ) advises that in accordance with Listing Rule 3.16.3, RSM Australian Partners ( RSM ) has been appointed as auditor of the Company.

The change of auditors follows the resignation of BDO Audit (WA) Pty Ltd, and ASIC’s consent to the resignation in accordance with s329(5) of the Corporations Act 2001. The change occurred due to the move of the Company head office to Melbourne and there were no disputes or disagreements with the outgoing auditor.

RSM appointment is effective until the next Annual General Meeting of the Company. In accordance with section 327C of the Corporations Act, a resolution will be put to shareholders at the 2022 Annual General Meeting to appoint RSM as the Company’s auditor.

The release of this announcement was authorised by the Board.

For further information, please contact:

Craig Hart Non-Executive Chairman Kogi Iron Limited Tel (office): +61 8 7324 4047 Email: info@kogiiron.com

About Kogi Iron (ASX: KFE)

Kogi Iron Limited is a company with the objective of becoming a producer of cast steel billet product that can be sold to fabricators of finished steel products through the development of its 100% owned Agbaja Iron and Steel project located in Kogi State, Republic of Nigeria, West Africa (“Agbaja” or “Agbaja Project”).

Nigeria has substantial domestic demand for steel products, which is currently met largely through imports of scrap steel raw materials. The Agbaja project, located on the Agbaja plateau approximately 15km northwest of Lokoja city in Kogi State and 200km southwest of Abuja, the capital city of Nigeria, opens the opportunity for domestic production of steel.

The Company holds a land position which covers a large part of the Agbaja Plateau. The Agbaja Plateau hosts an extensive, shallow, flat-lying channel iron deposit with an Indicated and Inferred Mineral Resource of 586 million tonnes with an in-situ iron grade of 41.3% reported in accordance with the JORC Code (2012) – Refer ASX announcement 10 December 2013. This mineral resource covers approximately 20% of the prospective plateau area within ML24606 and ML24607.

Level 4, 100 Albert Road, South Melbourne, Vic 3205 website: 1www.kogiiron.com.au ACN: 001 894 033