METRO MINING LIMITED — Major Shareholding Notification 2013

Jan 1, 2013

Form 603

Corporations Law Section 671B

Notice of initial substantial holder

To: Company Name/Scheme	Metrocoal Ltd
ACN/ ARSN	117 763 443
1. Details of substantial holder (1)
Name:	Bank of America Corporation and its related bodies corporate
ACN/ARSN (if applicable)
The holder became a substantial holder on:	27 December 2012

Details of voting power $2.$

$\bar{1}$

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	Persons' votes (5)	Voting power (6)
Ordinary	11.000.000	11.000.000	5.27%

$3.$ Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	$\mid$ Class and number of securities
l Merrill Lynch (Australia) Futures Ltd	Beneficial Owner	Ordinary 11,000,000

Details of present registered holders 4.

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant	Registered holder of	Person entitled to be	Class and number of
interest	securities	registered as holder (8)	securities
Merrill Lynch (Australia)	Merrill Lynch (Australia)	Merrill Lynch (Australia)	Ordinary 11,000,000
Futures Ltd	Nominees Pty Ltd	Futures Ltd

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration (9)		Class and number of securities
		Cash	Non-cash
Please see Annexure A.

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ ARSN (if applicable)	Nature of association
Merrill Lynch (Australia) Futures Ltd	Related body corporate
Merrill Lynch International (Australia) Ltd	Related body corporate
Merrill Lynch International	Related body corporate
Merrill Lynch (Australia) Nominees Pty Ltd	Related body corporate
MLEQ Nominees Pty Ltd	Related body corporate

7. 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 Ltd	Level 38, Governor Phillip Tower, 1 Farrer Place, Sydney NSW 2000. Australia
Merrill Lynch International (Australia) Ltd	Level 38, Governor Phillip Tower, 1 Farrer Place, Sydney NSW 2000. Australia
Merrill Lynch International	2 King Edward Street, London EC1A 1HQ, United Kingdom
Merrill Lynch (Australia) Nominees Pty Ltd	Level 19, 120 Collins St, Melbourne Vic 3000, Australia
MLEQ Nominees Pty Ltd	Level 38, Governor Phillip Tower, 1 Farrer Place, Sydney NSW 2000 Australia

SIGNATURE

Print Name: Roland Chan

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Capacity: Authorised signatory

$\overline{a}$

Sign Here:

Date: 31 December 2012

Annexure A

	Nature of change (4)	Consideration (5)	Class (6) of securites	Securities affected	Person's votes laffected
Date of change Person whose relevant interest changed 14-Dec-12 Merrill Lynch (Australia) Futures Ltd	Buyl	1,140,000 Ordinary		6.000.000	6,000,000
18-Dec-12 Merrill Lynch (Australia) Futures Ltd	Buy	380,000 Ordinary		2,000,000	2,000,000
27-Dec-12 Merrill Lynch (Australia) Futures Ltd	Buy!		540,000 Ordinary	3.000.000	3.000.000
11-Sep-12 Merrill Lynch International	Securities borrowed		N/A Ordinary	12 390.723	12,390,723
5-Nov-12 Merrill Lynch International	Securities returned		N/A Ordinary	(9.000.000)	(9,000,000)
5-Nov-12 Merrill Lynch International	Securities returned		N/A Ordinary	(3,390,723)	(3,390,723)
11-Sep-12 Merrill Lynch International (Australia) Ltd	Securities returned		N/A Ordinary	(12,390,723)	(12, 390, 723)