METRO MINING LIMITED — M&A Activity 2014

Oct 9, 2014

HopgoodGanim

10 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 off-market takeover bid for Cape Alumina: section 630(3) Notice

We refer to MetroCoal Limited ACN 117 763 443 (MetroCoal or Bidder) off-market takeover bid to acquire up to 100% of the ordinary shares in Cape Alumina Limited ACN 107 817 694 (Offer) pursuant to its bidder's statement dated 19 August 2014 (as supplemented by supplementary bidder's statements dated 27 August 2014 and 30 September 2014, and varied by a notice of variation dated 26 September 2014) (Bidder's Statement).

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

Please find attached a copy of MetroCoal's notice under section 630(3) of the Corporations Act 2001 (Cth), providing notice of the status of the Defeating Conditions the Defeating Conditions (630(3) Notice).

The 630(3) Notice has been or will be lodged with the Target today.

Yours faithfully

Hoppoolgamm

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 +61730240300

PERTH

T +61892118111 F +61892261696

Notice under section 630(3) of the Corporations Act 2001 (Cth)

To: Cape Alumina Limited ACN 107 817 694 (Cape);

ASX Limited, for immediate release to the market.

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

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

In accordance with section 630(3) of the Corporations Act 2001 (Cth) (Act), MetroCoal gives notice that so far as MetroCoal is aware:

• $1.$ as at the date of this notice, none of the Defeating Conditions of the Offer (which are set out in section 11.2 of the Bidder's Statement) have been fulfilled as each Defeating Condition is only capable of being fulfilled at the end of the Offer Period. However MetroCoal has, by a notice dated 10 October 2014 pursuant to section 650F of the Act, declared the Offer free from all of the Defeating Conditions:
• $2₁$ as far as MetroCoal is aware, at the time of giving this notice. MetroCoal's voting power in Cape (being its relevant interest in Cape shares) is 64.52%.

Dated: 10 October 2014

Signed for and on behalf of MetroCoal Limited

Stephen Everett (Director, MetroCoal Limited)