METRO MINING LIMITED — M&A Activity 2014

Oct 26, 2014

27 October 2014

Australian Securities Exchange Company Announcement Platform

By facsimile: 1300 135 638

Our Ref: 1486646 - Katherine Hammond

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Dear Sir/Madam

MetroCoal Limited - off-market takeover bid for Cape Alumina Limited - notice of variation: extension of offer period

We refer to MetroCoal Limited's off market takeover offer for all of the fully paid ordinary shares that it does not already hold in Cape Alumina Limited (Offer).

Please find attached a copy of MetroCoal's notice to vary the Offer by extending the Offer period, in accordance with section 650D Corporations Act 2001 (Cth) (Act).

The Offer now closes at 7:00pm (Brisbane time) on 10 November 2014 (unless extended in accordance with the Act).

The Notice has been or will be lodged with ASIC and Cape Alumina today and is being sent to Cape Alumina shareholders in accordance with the Act (as varied by Class Order CO 13/521).

Yours faithfully

roperalpum

HopgoodGanim

Katherine Hammond Contact Associate T 07 3024 0343 F 07 3024 0043 E k.hammond@hopgoodganim.com.au

Partner responsible: Michael Hansel

BRISBANE

Level 8, Waterfront Place 1 Eagle Street Brisbane Qld 4000 Australia

PO Box 7822, Waterfront Place Brisbane Qld 4001 Australia

ABN: 54 105 489 661

BRISBANE

T +61 7 3024 0000 F +61 7 3024 0300

PERTH

$T + 61892118111$ F +61892261696

www.hopgoodganim.com.au

Notice of Variation - extension of offer period under section 650D of the Corporations Act 2001 (Cth)

Off-market takeover offer by MetroCoal Limited for the ordinary shares in Cape Alumina Limited

To: Australian Securities and Investment Commission (ASIC):

Cape Alumina Limited ACN 107 817 694 (Cape):

ASX Limited (ASX); and

Each person (other than MetroCoal) on the most recent register obtained by MetroCoal to whom MetroCoal would have had to send the Bidder's Statement and offers under item 6 of subsection 633(1) if the date set by the Bidder under 633(2) had been the date at which holdings are recorded on that register (Current Cape Shareholders).

This is a notice given by MetroCoal Limited ACN 117 763 443 (MetroCoal) in relation to its offers dated 2 September 2014 made under its off-market takeover bid (Offer) to acquire up to 100% of the ordinary shares in Cape pursuant to its bidder's statement dated 19 August 2014 (Bidder's Statement) as supplemented by supplementary bidder's statements dated 27 August 2014 (First Supplementary Bidder's Statement) and 30 September 2014 (Second Supplementary Bidder's Statement) and varied by notice of variation dated 26 September 2014 (First Extension Notice) and by notice of variation dated 17 October 2014 (Second Extension Notice).

Capitalised terms which are not defined in this notice have the meaning given to them in the Bidder's Statement

$1.$ Extension of Offer Period

On 17 October 2014, by the Second Extension Notice, MetroCoal extended the period during which the Offers will remain open by changing the Closing Date of the Offer from 17 October 2014 to 27 October 2014.

In accordance with section 650D of the Corporations Act 2001 (Cth) (Act), MetroCoal gives notice that MetroCoal further varies it Offer by:

• extending the period during which the Offers will remain open so that the Offer will now close $(a)$ at 7:00pm (Brisbane time) on 10 November 2014 (instead of 27 October 2014), unless further extended or withdrawn in accordance with the Act;
• $(b)$ substituting the date "10 November 2014" for "27 October 2014" in the 'Important Dates' table, the Chairman's Letter. Section 1.3.4.12.6. 12.7 and 14.1 (Definition of Closing Date) of the Bidder's Statement (as varied by the First Extension Notice), the Entitlement and Acceptance Form and in all other instances where 27 October 2014 appears (or is deemed to appear) as the last day of the offer period in relation to the Offer; and
• substituting the date "10 November 2014" for "27 October 2014" in all instances where $(c)$ 27 October 2014 appears (or is deemed to appear) as the last day of the offer period in relation to the Offer in the First Supplementary Bidder's Statement (as varied by the First Extension Notice) and Second Supplementary Bidder's Statement.

A copy of this notice was lodged with ASIC on 27 October 2014. ASIC takes no responsibility for the contents of this notice.

Signed for an on behalf of MetroCoal pursuant to the authority of a unanimous resolution of the MetroCoal directors in reliance on Class Order Co 13/521.

Director, Stephen Everett Dated: 27 October 2014