MACRO METALS LIMITED — Capital/Financing Update 2016

May 8, 2016

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MARKET RELEASE

9 May 2016

Kogi Iron Limited

SUSPENSION

The securities of Kogi Iron Limited (the “Company”) will be suspended from official quotation immediately at the request of the Company, pending the release of an announcement.

Security Code:

KFE

Jill Hewitt

SENIOR ADVISER, LISTINGS COMPLIANCE (PERTH)

Level 40 Central Park www.asx.com.au Phone: 08 9224 0000 152-158 St Georges Terrace Customer service 13 12 79 Email: Perth WA 6000

ASX Compliance Pty Limited ABN 26 087 780 489

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----- Start of picture text ----- Nigerian SubsidiaryNigerian Subsidiary Nigerian Subsidiary----- End of picture text -----

9 May 2016

Mr Jeremy Newman Adviser, Listings Compliance (Perth) Australian Securities Exchange Limited Level 40, Central Park 152 – 158 St Georges Terrace PERTH WA 6000

By Email: jeremy.newman@asx.com.au

KOGI IRON LIMITED (“The Company”)

REQUEST FOR VOLUNTARY SUSPENSION

The Company hereby requests voluntary suspension of the quotation of its securities, effective immediately, regarding the finalising of a proposed capital raising.

The Company requests that the voluntary suspension commence immediately, Monday 9 May 2016 and remain in place until the commencement of trading on Thursday, 12 May 2016 or the release of an announcement detailing the proposed capital raising, whichever is the earlier.

We confirm the Company is in compliance with LR3.1 and are not aware of any reason why the Company’s request should not be granted.

Yours sincerely,

Piers Lewis Company Secretary

Unit 23, 4 Ventnor Avenue West Perth Western Australia 6005 Australia

PO Box 1934 Telephone: +61 8 9200 3456 West Perth Western Australia 6872 Facsimile: +61 8 9200 3455 Australia Website: www.kogiiron.com

Kogi Iron Limited ABN 28 001 894 033 KCM Mining Limited (Nigerian Subsidiary)