PERPETUAL RESOURCES LIMITED — Major Shareholding Notification 2021

Feb 23, 2021

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

	To Company Name/Scheme Perpetual Resources Limited
ACN/ARSN	82 154 516 533

1. Details of substantial holder (1)

Name	Deutsche Balaton Aktiengesellschaft, Heidelberg, Germany
	VV Beteiliqungen Aktiengesellschaft, Heidelberg, Germany
	DELPHI Unternehmensberatung Aktiengesellschaft, Heidelberg, Germany
	Wilhelm K.T. Zours, Heidelberg, Germany
ACN/ARSN (if applicable)

22/02/2021 The holder became a substantial holder on

2. Details of 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 on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
Fully paid ordinaryshares	25,000,000	25,000,000	5.26%

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)	Class and number of securities
Deutsche BalatonAktiengesellschaft	Registered Holder	ordinary shares,12,500,000
VV BeteiligungenAktiengesellschaft	Major Shareholder of DeutscheBalaton Aktiengesellschaft	ordinary shares,12,500,000
DELPHI UnternehmensberatungAktiengesellschaft	Registered Holder, HoldingCompany of VV BeteiligungenAktiengesellschaft	ordinary shares,25,000,000
Wilhelm K.T. Zours	Major Shareholder of DELPHIUnternehmensberatungAktiengesellschaft	ordinary shares,25,000,000

4. Details of present registered holders

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 securities
interest	Securities	registered as holder (8)
Deutsche Balaton	Deutsche Balaton		ordinary shares,
Aktiengesellschaft	Aktiengesellschaft		12,500,000
VV Beteiligungen	Deutsche Balaton		ordinary shares,
Aktiengesellschaft	Aktiengesellschaft		12,500,000

DELPHIUnternehmensberatungAktiengesellschaft	Deutsche BalatonAktiengesellschaft,DELPHIUnternehmensberatungAktiengesellschaft	ordinary shares,25,000,000
Wilhelm K.T. Zours	Deutsche BalatonAktiengesellschaft,DELPHTUnternehmensberatungAktiengesellschaft	ordinary shares,25,000,000

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 thesubstantial holder became a substantial holder is as follows:

Holder of relevantinterest	Date of acquisition	Consideration (9)		Class and number of securities
		Cash	Non-cash
Deutsche BalatonAktiengesellschaft	22/02/2020	$$0.080$ per share		ordinary shares,12,500,000
DELPHIUnternehmensberatungAktiengesellschaft	22/02/2020	$$0.080$ per share		ordinary shares,12,500,000

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
VV Beteiligungen	VV Beteiligungen Aktiengesellschaft is the major shareholder of
Aktiengesellschaft	Deutsche Balaton Aktiengesellschaft.
DELPHIUnternehmensberatungAktiengesellschaft	DELPHI Unternehmensberatung Aktiengesellschaft is the onlyshareholder of VV Beteiligungen Aktiengesellschaft. VVBeteiligungen Aktiengesellschaft is the major shareholder ofDeutsche Balaton Aktiengesellschaft.
Wilhelm K.T. Zours	Mr. Zours is the major shareholder of DELPHIUnternehmensberatung Aktiengesellschaft. DELPHIUnternehmensberatung Aktiengesellschaft is the only shareholderof VV Beteiligungen Aktiengesellschaft. VV BeteiligungenAktiengesellschaft is the major shareholder of Deutsche BalatonAktiengesellschaft.

7. Addresses

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

Name	Address
Deutsche BalatonAktiengesellschaft	Ziegelhaeuser Landstrasse 1, 69120 Heidelberg, Germany
VV BeteiligungenAktiengesellschaft	Ziegelhaeuser Landstrasse 1, 69120 Heidelberg, Germany
DELPHIUnternehmensberatungAktiengesellschaft	Ziegelhaeuser Landstrasse 1, 69120 Heidelberg, Germany
Wilhelm K.T. Zours	69120 Heidelberg, Germany

Signature
print name	Rolf Birkert	capacity
sign here		date	22/02/2021
	v

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the $(1)$ 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 7 of the form.
• $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an $(5)$ associate has a relevant interest in.
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(6)$
• Include details of: $(7)$
  • any relevant agreement or other circumstances by which the relevant interest was acquired. 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
  • any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal $(b)$ 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.

• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write $(8)$ "unknown".
• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired $(9)$ 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.