METRO MINING LIMITED — Major Shareholding Notification 2021

Jul 27, 2021

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Metro Mining Limited (MMI)
ACN/ARSN	ACN 117 763 443
1. Details of substantial holder (1) Name	Balanced Property Pty Ltd (ACN 601 591 217) as trustee for the Balanced Property Trust, and James Mortimer Gorman
ACN/ARSN (if applicable)	As above
There was a change in the interests of the substantial holder on The previous notice was given to the company on The previous notice was dated	22/07/2021 17/01/2019 17/01/2019

2. Previous and present voting power

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 relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities	Previous notice		Present notice
	Person s votes	Voting power (5)	Person's votes	Voting power
Fully paid ordinary shares	232.496.802	15.84%	232.496.802	$19.50\%$

* Voting power has decreased as a result of dilution due to new share issues.

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the 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	$\lambda$ Nature of change (6)	Consideration given in relation to securities affected $ {\rm change (7)} $	Class and number of Person's votes	laffected
IN/A	IN/A	IN/A	N/A	N/A

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant linterest	Registered holder of securities	Person entitled to be registered as $ $ holder $(8)$	linterest (6)	Nature of relevant Class and number of Person's votes securities
Balanced Property Pty Ltd (ACN 601 591 217) Ltd (ACN 601 591	Balanced Property Pty Balanced Property l217)	Pty Ltd (ACN 601) $ 591217\rangle$	$ 608(1)(a)$ of the Corporations Act 2001 (Cth)	Registered holder of 223,920,329 fully paid 223,920,329 securities - Section ordinary shares in MMI

James Mortimer	Balanced Property Pty Balanced Property		Relevant interest in	223,920,329 fully paid 223,920,329
Gorman	Ltd (ACN 601 591 217)	Pty Ltd (ACN 601 591 217)	securities held by a body corporate in which the person's voting power is above 20% (James Mortimer Gorman has voting power labove 20% in Balanced Property Pty Ltd (ACN 601 591 217), and is a beneficiary of the Balanced Property Trust) - Section $ 608(3)(a)$ of the Corporations Act 2001 (Cth)	ordinary shares in MMI
James Mortimer Gorman	James Mortimer Gorman	James Mortimer ¦Gorman	Registered holder of 8,576,473 fully paid securities - Section $ 608(1)(a)$ of the Corporations Act 2001 (Cth)	ordinary shares in MMI	8,576,473

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
Uames Mortimer Gorman	Director of Balanced Property Pty Ltd (ACN 601 591 217) - Section 11(c) of the Corporations Act 2001 (Cth)
Both parties	Acting in concert in relation to MMI's affairs - Section 12(2)(c) of the Corporations Act 2001 (Cth)

6. Addresses

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

Name	Address
	Balanced Property Pty Ltd (ACN 601 591 217) Level 14, 46 Edward Street, Brisbane, Queensland, 4000
Uames Mortimer Gorman	13 Prospect Terrace, Hamilton, Queensland, 4007

Signature

	print name James Mortimer Gorman	capacity	Registered holder and director of Balanced Property Pty Ltd (ACN) 601 591 217)
sign here		date	28 / 07 / 2021

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and $(1)$ trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.
• $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• $(3)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• $(5)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• $(6)$ Include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of $(a)$ any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• $(b)$ any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, $(7)$ become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included on any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown". $(8)$
• $(9)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.