Metals X Limited — Major Shareholding Notification 2021

Dec 7, 2021

Form 605

Corporations Act Section 671B

Notice of ceasing to be a substantial holder

To: Company Name/Scheme METALS X LTD ACN/ ~~ARSN~~ 110 150 055

1. Details of substantial holder (1)

Name Bank of America Corporation and its related bodies corporate (See Appendix C)

ACN/ARSN (if applicable):

The holder ceased to be a substantial shareholder on

The previous notice was given to the company on

The previous notice was dated

6 December 2021 25 November 2021 23 November 2021

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) 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 (4)	Consideration given in relation to change (5)	Class (6) and Number of securities affected	Person’s votes affected
See Appendix A

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) 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

4. Addresses

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

Name	Addresses
Bank of America Corporation	100 North Tryon Street, Charlotte, North Carolina, 28255, USA
Merrill Lynch (Australia) Futures Limited	Level 34, Governor Phillip Tower, 1 Farrer Place, Sydney NSW 2000, Australia
Merrill Lynch (Australia) Nominees Pty Ltd	Level 19, 120 Collins St, Melbourne Vic 3000, Australia
Merrill Lynch International	2 King Edward Street, London, England, EC1A 1HQ, United Kingdom

SIGNATURE

Print Name: Kelvin Kwok Capacity: Authorised signatory Sign Here: Date: 8 December 2021

Appendix A

Date of change	Person whose relevant interest changed	Nature of change (4)	Consideration (5)	Class (6) of securities	Securities affected	Person's votes affected	Remark
11/24/2021	Merrill Lynch (Australia) Futures Limited	BUY	9,167	Ordinary	22,635	22,635	N/A
11/24/2021	Merrill Lynch (Australia) Futures Limited	SELL	-7,939	Ordinary	-20,356	-20,356	N/A
11/24/2021	Merrill Lynch (Australia) Futures Limited	SELL	-2	Ordinary	-6	-6	N/A
11/24/2021	Merrill Lynch (Australia) Futures Limited	SELL	-2,355	Ordinary	-6,038	-6,038	N/A
11/25/2021	Merrill Lynch International	Securities returned	N/A	Ordinary	-38,555,618	-38,555,618	Refer to App. B
11/25/2021	Merrill Lynch International	Securities returned	N/A	Ordinary	-1,156,668	-1,156,668	Refer to App. B
11/25/2021	Merrill Lynch International	Securities borrowed	N/A	Ordinary	39,712,286	39,712,286	Refer to App. B
11/25/2021	Merrill Lynch (Australia) Futures Limited	SELL	-3,977	Ordinary	-9,358	-9,358	N/A
11/25/2021	Merrill Lynch (Australia) Futures Limited	BUY	3,930	Ordinary	9,358	9,358	N/A
11/25/2021	Merrill Lynch (Australia) Futures Limited	SELL	-2	Ordinary	-4	-4	N/A
11/25/2021	Merrill Lynch (Australia) Futures Limited	SELL	-9,356	Ordinary	-22,820	-22,820	N/A
11/26/2021	Merrill Lynch (Australia) Futures Limited	BUY	2	Ordinary	6	6	N/A
11/26/2021	Merrill Lynch (Australia) Futures Limited	BUY	5,855	Ordinary	13,940	13,940	N/A
11/26/2021	Merrill Lynch (Australia) Futures Limited	SELL	-5,785	Ordinary	-13,940	-13,940	N/A
11/26/2021	Merrill Lynch (Australia) Futures Limited	SELL	-1	Ordinary	-2	-2	N/A
11/29/2021	Merrill Lynch (Australia) Futures Limited	BUY	3,871	Ordinary	10,054	10,054	N/A
11/29/2021	Merrill Lynch (Australia) Futures Limited	SELL	-1	Ordinary	-2	-2	N/A
11/30/2021	Merrill Lynch (Australia) Futures Limited	BUY	7,898	Ordinary	19,996	19,996	N/A
11/30/2021	Merrill Lynch (Australia) Futures Limited	SELL	-2	Ordinary	-5	-5	N/A
11/30/2021	Merrill Lynch (Australia) Futures Limited	SELL	-6,534	Ordinary	-16,624	-16,624	N/A
12/1/2021	Merrill Lynch (Australia) Futures Limited	BUY	20,555	Ordinary	47,252	47,252	N/A
12/1/2021	Merrill Lynch (Australia) Futures Limited	BUY	46,201	Ordinary	104,383	104,383	N/A
12/1/2021	Merrill Lynch (Australia) Futures Limited	SELL	-0.44	Ordinary	-1	-1	N/A
12/1/2021	Merrill Lynch (Australia) Futures Limited	SELL	-1,308	Ordinary	-3,353	-3,353	N/A
12/1/2021	Merrill Lynch (Australia) Futures Limited	SELL	-4,022	Ordinary	-10,054	-10,054	N/A

12/2/2021	Merrill Lynch (Australia) Futures Limited	BUY	13,490	Ordinary	31,372	31,372	N/A
12/2/2021	Merrill Lynch (Australia) Futures Limited	SELL	-28,892	Ordinary	-68,598	-68,598	N/A
12/2/2021	Merrill Lynch (Australia) Futures Limited	SELL	-1	Ordinary	-2	-2	N/A
12/2/2021	Merrill Lynch (Australia) Futures Limited	SELL	-20,796	Ordinary	-47,263	-47,263	N/A
12/3/2021	Merrill Lynch International	Securities returned	N/A	Ordinary	-39,712,286	-39,712,286	Refer to App. B
12/3/2021	Merrill Lynch (Australia) Futures Limited	BUY	2,927	Ordinary	6,888	6,888	N/A
12/3/2021	Merrill Lynch (Australia) Futures Limited	BUY	38,593	Ordinary	86,008	86,008	N/A
12/3/2021	Merrill Lynch (Australia) Futures Limited	SELL	-3	Ordinary	-6	-6	N/A
12/3/2021	Merrill Lynch (Australia) Futures Limited	SELL	-3,105	Ordinary	-6,892	-6,892	N/A
12/3/2021	Merrill Lynch (Australia) Futures Limited	SELL	-89,488	Ordinary	-200,000	-200,000	N/A
12/3/2021	Merrill Lynch (Australia) Futures Limited	SELL	-33,272	Ordinary	-72,447	-72,447	N/A
12/6/2021	Merrill Lynch (Australia) Futures Limited	BUY	880	Ordinary	1,778	1,778	N/A
12/6/2021	Merrill Lynch (Australia) Futures Limited	BUY	57,187	Ordinary	121,077	121,077	N/A
12/6/2021	Merrill Lynch (Australia) Futures Limited	SELL	-19,057	Ordinary	-42,255	-42,255	N/A
12/6/2021	Merrill Lynch (Australia) Futures Limited	SELL	-34,798	Ordinary	-80,718	-80,718	N/A
12/6/2021	Merrill Lynch (Australia) Futures Limited	SELL	-1	Ordinary	-2	-2	N/A

Appendix B-1: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch Markets (Australia) Pty. Limited and Susquehanna Pacific Pty Ltd
Holder of voting rights	Securities borrower. Securities lender may instruct the registered holder to vote on securities.
Are there any restrictions on voting rights?	No
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail	Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail	Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	N/A

Appendix B-2: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch Markets (Australia) Pty. Limited and Virtu Financial AsiaPtyLtd
Holder of voting rights	Securities borrower. Securities lender may instruct the registered holder to vote on securities.
Are there any restrictions on voting rights?	No
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail	Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail	Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	N/A

Appendix B-3: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch Markets (Australia) Pty. Limited and SSW- TRADING GMBH
Holder of voting rights	Securities borrower. Securities lender may instruct the registered holder to vote on securities.
Are there any restrictions on voting rights?	No
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail	Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail	Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	N/A

Appendix B-4: Prescribed information

Type of agreement	International Prime Brokerage Agreement
Parties to agreement	Merrill Lynch International, Merrill Lynch Markets (Australia) Pty. Limited and OP MASTER FUND LTD
Holder of voting rights	Securities borrower. Securities lender may instruct the registered holder to vote on securities.
Are there any restrictions on voting rights?	No
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail	Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail	Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	N/A

Appendix B-5: Prescribed information

Type of agreement	International Prime Brokerage Agreement
**Parties to agreement **	Merrill Lynch International, Merrill Lynch Markets (Australia) Pty. Limited and PCM LP
Holder of voting rights	Securities borrower. Securities lender may instruct the registered holder to vote on securities.
Are there any restrictions on voting rights?	No
If yes, detail	N/A
Scheduled return date (if any)	On recall of the securities loan by the securities lender.
Does the borrower have the right to return early?	Yes
If yes, detail	Securities borrower will have right to return assets at any time.
Does the lender have the right to recall early?	Yes
If yes, detail	Securities lender will have right to recall assets at any time.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	N/A

Appendix C

Related bodies corporate	Incorporated	**ACN/Registration/Incorporation Number **
Merrill Lynch International	United Kingdom	2312079
ML UK Capital Holdings Limited	United Kingdom	4971231
BofAML EMEA Holdings 2 Limited	United States	119605
Merrill Lynch(Australia)FuturesLimited	Australia	003639674
Merrill Lynch Markets (Australia) Pty. Limited	Australia	075587816
Merrill Lynch(Australasia)Pty. Ltd	Australia	075923894
Bank of America Global Holdings, LLC	United States	5169939
BofAML Jersey Holdings Limited	Jersey	115831
BofA Securities, Inc.	United States	5793661
NB Holdings Corporation	United States	2361372
Bankof America Corporation	United States	N/A628