MACRO METALS LIMITED — Share Issue/Capital Change 2021

Dec 2, 2021

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Notice Under Section 708A(5)(e) of the Corporations Act (Cth)

On 29 November 2021, Kogi Iron Limited (the “Company”) issued 384,615,383 fully paid ordinary shares.

Accordingly, the Company gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) (the "Corporations Act") that:

1. the abovementioned ordinary shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act ;

2. as at the date of this notice the Company has complied with:

   • (a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

   • (b) section 674 of the Corporations Act ; and

3. as at the date of this notice there is no "excluded information" (as defined in subsection

708A(7) of the Corporations Act ) which is required to be disclosed by the Company.

Approved for release by the Chair

For further information, please contact:

KOGI IRON LIMITED

Craig Hart Chairman

About Kogi Iron (ASX: KFE)

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.

Kogi Iron Limited also has a number of interests in iron ore projects in the Pilbara and Midwest regions of Western Australia, through it 100% owned subsidiary Macro Metals Limited. Existing Indicated Resource in accordance with JORC 2012 Guidelines of 11.5Mt at 53.1% Fe which is confined to a single mesa. It is geologically continuous with Atlas Iron’s Anthiby Well Channel Iron Deposits (CID) immediately to the south and is located less than 260km by road to an existing port. Four of the concessions are in the exciting West Pilbara region where Mineral Resources Limited (ASX: MIN) has acquired a minority position in the neighbouring Red Hill iron ore joint venture (MIN:ASX announcement dated 30 July 2021). Two other projects are in the Central Pilbara adjacent to major producers Rio Tinto and BHP and two projects are in the Midwest region of WA. (For further details in relation to Macro Metals Limited, refer ASX Announcement 23 September 2021).