METRO MINING LIMITED — Major Shareholding Notification 2021

Jul 5, 2021

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604 GUIDE page 1/1 13 March 2000

Form 604

Corporations Act 2001 Section 671B Notice of change of interests of substantial holder

To: Company Name/Scheme Metro Mining Limited (Company) ACN/ARSN 117 763 443 1. Details of substantial holder (1) Name Greenstone Resources II (Australia) Holdings L.P (formerly Greenstone Metro Holdings L.P) (Greenstone Australia LP), Greenstone Management (Delaware) II LLC (Greenstone Delaware) in its capacity as general partner of Greenstone Australia LP, and Greenstone Management II Limited (Greenstone Management) ACN\ARSN (if applicable) N/A

There was a change in the interests of the substantial holder on 08 / 08 / 2017 to 06 / 07 / 2021 The previous notice was given to the company on 04 / 04 / 2017 The previous notice was dated 03 / 04 / 2017

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 associate (2) had a 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 (4)	Previousnotice	Previousnotice	Present notice	Present notice
	Person’svotes	Voting power(5)	Person’svotes	Voting power(5)
Fully paid ordinary shares (Shares)	199,311,908	19.9%	587,785,791	28.77% (on the basis that the Company has 2,043,250,438 Shares on issue)

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 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 (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person’s votes affected
8 August 2017	Greenstone Australia LP and Greenstone Delaware in its capacity as general partner of Greenstone Australia LP	Shares acquired by Greenstone Delaware in its capacity as general partner of Greenstone Australia LP pursuant to the exercise of its anti- dilution right.	A$6,745,265.82	49,964,932 Shares	49,964,932
8 August 2017	Greenstone Management	By reason of being the sole shareholder of and thus controlling Greenstone Delaware (section 608(3)(b) of the Corporations Act 2001 (Cth) (the Act)).	N/A	49,964,932 Shares	49,964,932
5 September 2017	Greenstone Australia LP and Greenstone Delaware in its capacity as general partner of Greenstone Australia LP	Shares acquired by Greenstone Delaware in its capacity as general partner of Greenstone Australia LP pursuant to the exercise of its anti- dilution right.	A$816,734.21	6,049,883 Shares	6,049,883

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	604	604	604	GUIDE page 2/1 13 March 2000	GUIDE page 2/1 13 March 2000
5 September 2017	Greenstone Management	By reason of being the sole shareholder of and thus controlling Greenstone Delaware (section 608(3)(b) of the Act).	N/A	6,049,883 Shares	6,049,883
10 July 2018	Greenstone Australia LP and Greenstone Delaware in its capacity as general partner of Greenstone Australia LP	Shares acquired by Greenstone Delaware in its capacity as general partner of Greenstone Australia LP in connection with the institutional placement the subject of the Company’s ASX announcement on 20 June2018.	A$3,458,275.40	17,291,377 Shares	17,291,377
10 July 2018	Greenstone Management	By reason of being the sole shareholder of and thus controlling Greenstone Delaware (section 608(3)(b) of the Act).	N/A	17,291,377 Shares	17,291,377
31 July 2018	Greenstone Australia LP and Greenstone Delaware in its capacity as general partner of Greenstone Australia LP	Shares acquired by Greenstone Delaware in its capacity as general partner of Greenstone Australia LP pursuant to the exercise of its anti- dilution right.	A$141,027.12	770,640 Shares	770,640
31 July 2018	Greenstone Management	By reason of being the sole shareholder of and thus controlling Greenstone Delaware (section 608(3)(b) of the Act).	N/A	770,640 Shares	770,640
6 July 2021	Greenstone Australia LP and Greenstone Delaware in its capacity as general partner of Greenstone Australia LP	Shares acquired by Greenstone Delaware in its capacity as general partner of Greenstone Australia LP pursuant to its participation in the placement and institutional component of the entitlement offer referred to in the Company’s ASX announcements on 25 June 2021 and 28 June 2021.	$5,030,352.82	314,397,051 Shares	314,397,051
6 July 2021	Greenstone Management	By reason of being the sole shareholder of and thus controlling Greenstone Delaware (section 608(3)(b) of the Act).	N/A	314,397,051 Shares	314,397,051
elevant interests f each relevant interest of the substantial holder in voting securities after the change are as follows:
Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person’s votes

4. Present relevant interests

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

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4 1.+ %%)/0,(/",0*%"'000",()%"#/&&0$$/.)-)	4 1.+ %%)/0,(/",0*%"'000",()%"#/&&0$$/.)-)	4 1.+ %%)/0,(/",0*%"'000",()%"#/&&0$$/.)-)	4 1.+ %%)/0,(/",0*%"'000",()%"#/&&0$$/.)-)	4 1.+ %%)/0,(/",0*%"'000",()%"#/&&0$$/.)-)	4 1.+ %%)/0,(/",0*%"'000",()%"#/&&0$$/.)-)
604 GUIDE page 3/1 13 March 2000
Greenstone Delaware in its capacity as general partner of Greenstone AustraliaLP	Greenstone Delaware in its capacity as general partner of Greenstone Australia LP	Greenstone Delaware in its capacity as general partner of Greenstone Australia LP	As the registered holder of the Shares under section 608(1) of the Act.	587,785,791 Shares	587,785,791
Greenstone Management	Greenstone Delaware in its capacity as general partner of Greenstone Australia LP	Greenstone Delaware in its capacity as general partner of Greenstone Australia LP	By reason of being the sole shareholder of and thus controlling Greenstone Delaware (section 608(3)(b) of the Act).	587,785,791 Shares	587,785,791

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604 GUIDE page 4/1 13 March 2000

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 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

6. Addresses

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

Name	Address
Greenstone Australia LP	c/o Aztec Group,East Wing,Trafalgar Court,Les Banques,St Peter Port,Guernsey,GY13PP
Greenstone Delaware in its capacity as general partnerofGreenstoneAustraliaLP	c/o Aztec Group, East Wing, Trafalgar Court, Les Banques, St Peter Port, Guernsey, GY13PP
Greenstone Management	c/o Aztec Group, East Wing, Trafalgar Court, Les Banques, St Peter Port, Guernsey, GY13PP

Signature

print name Gavin Hayman

capacity Director of Greenstone Management and authorised representative of the other entities in section 1

sign here date 06 / 07 / 2021

DIRECTIONS

(1) 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 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:

• (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of 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.

• (7) 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, 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 of 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.

• (8) 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".

• (9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

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