MACRO METALS LIMITED — Share Issue/Capital Change 2022

Jun 21, 2022

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SECTION 708A CLEANSING NOTICE

22 June 2022: Australian based iron ore and steel development company, Kogi Iron Limited ( ASX: KFE ) ( Kogi, Kogi Iron , or the Company ) advises that this notice is given by Kogi Iron Limited (ACN 001 894 033) under Section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ).

The Company hereby confirms that:

• (a) the Company has today issued a total of 75,000,000 fully paid ordinary shares as a result of the conversion of $300,000 of subscription rights under the terms of its Subscription Agreement with Diversified Metals Holdings, LLC, which was announced to the market on 26 April 2021 and approved by shareholders on 11 June 2021.

• (b) the Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

• (c) the Company is providing this notice under paragraph 5(e) of Section 708A of the Corporations Act;

• (d) as at the date of this notice the Company, as a disclosing entity under the Corporations Act, has complied with:

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

  • (ii) Section 674 of the Corporations Act as it applies to the Company; and

• (e) as at the date of this notice, there is no excluded information of the type referred to in Sections 708A(7) and 708A(8) of the Corporations Act.

An Appendix 2A relating to the issue of shares noted above will follow shortly.

-ENDS-

The release of this announcement was authorised by the Board.

Level 4, 100 Albert Road, South Melbourne, VIC 3205 website: www.kogiiron.com.au Registered Office (Tel): +61 3 9692 7222 ACN: 001 894 033

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For further information, please contact:

Sean Gregory Non-Executive Chairman Kogi Iron Limited Registered Office (Tel): +61 3 9692 7222 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.

Kogi has also supplemented its landholdings to balance its portfolio with the acquisition of Macro Metals Limited who owns 8 iron ore projects in the Pilbara and Mid West regions of Western Australia.

Level 4, 100 Albert Road, South Melbourne, VIC 3205 website: www.kogiiron.com.au Registered Office (Tel): +61 3 9692 7222 ACN: 001 894 033