OLDFIELDS HOLDINGS LIMITED — Capital/Financing Update 2020

Apr 16, 2020

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17 April 2020

The Manager Market Announcements Office ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000

Notice given under section 708A(5)(e) of the Corporations Act 2001 (Cth)

This notice is given by Oldfields Holdings Ltd ACN 000 307 988 (ASX Code: OLH) ( Company ) under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ).

On 17 April 2020, the Company issued 85,530,329 fully paid ordinary shares at $0.06 per fully paid ordinary share ( Placement Shares ) to EQM Holdings Pty Ltd ACN 635 693 668 as trustee of the EQM Holdings Trust in accordance with a Subscription Agreement dated 25 October 2019 and a subsequent amending deed to the Subscription Agreement dated 21 February 2020 ( Amending Deed ). An update in relation to the Amending Deed was lodged with ASX on 24 February 2020.

The Company provides notice to ASX that:

1. it has issued the Placement Shares without disclosure to investors under Part 6D.2 of the Corporations Act;

2. this notice is being given under section 708A(5)(e) of the Corporations Act;

3. as at the date of this notice, the Company has complied with:

   • (a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

   • (b) section 674 of the Corporations Act; and

4. as at the date of this notice, there is no 'excluded information' within the meaning of sections 708A(7) and 708A(8) of the Corporations Act.

An Appendix 2A with respect to the issue of the Placement Shares was lodged by the Company with the ASX on 15 April 2020.

Company Secretary Mr Alan Lee alan.lee@oldfields.com.au (02) 4645 0702

Oldfields Holdings Limited ABN 92 000 307 988 8 Farrow Road Campbelltown NSW 2560 p: +61 2 4645 0700 f: +61 2 4627 0888

www.oldfields.com.au