POLYMETALS RESOURCES LTD — Major Shareholding Notification 2025

Feb 17, 2025

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603

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme Polymetals Resources LTD ACN/ARSN 644 736 247

1. Details of substantial holder (1)

Name

Jupiter Investment Management LTD

ACN/ARSN (if applicable)

The holder became a substantial holder 17 / 02 / 2025 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:

follows:
Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
Ordinary Shares	17,717,920	17,717,920	7.33%

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
Jupiter Investment Management	Investment Manager Of	Ordinary Shares
LTD	Collective Investment Schemes	17,717,920

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 interest	Registered holder of securities	Person entitled to be registered as holder (8)	Class and number of securities
Jupiter Investment Management LTD	Jupiter Investment Management LTD	Jupiter Investment Management LTD	Ordinary Shares

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17,717,920

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:

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Holder of relevant interest	Date of acquisition	Consideration (9)			Class and number of securities
		Cash		Non-cash
Jupiter Investment Management LTD	30/10/2024	$395,498.02	-		618,914
Jupiter Investment Management LTD	01/11/2024	$559,816.66	-		750,150
Jupiter Investment Management LTD	04/11/2024	$239,750.22	-		326,383
Jupiter Investment Management LTD	06/11/2024	$34,380.64	-		47,900
Jupiter Investment Management LTD	11/11/2024	$92,885.77	-		106,516
Jupiter Investment Management LTD	12/11/2024	$48,347.38	-		58,025
Jupiter Investment Management LTD	13/11/2024	$184,893.31	-		234,192
Jupiter Investment Management LTD	14/11/2024	$147,717.68	-		203,731
Jupiter Investment Management LTD	15/11/2024	$48,488.72	-		65,413
Jupiter Investment Management LTD	18/11/2024	$38,602.55	-		50,219
Jupiter Investment Management LTD	19/11/2024	$6,500.92	-		8,167
Jupiter Investment Management LTD	20/11/2024	$49,648.40	-		63,506
Jupiter Investment Management LTD	21/11/2024	$42,213.25	-		57,750
Jupiter Investment Management LTD	22/11/2024	$21,074.60	-		29,090
Jupiter Investment Management LTD	25/11/2024	$20,084.66	-		28,366
Jupiter Investment Management LTD	26/11/2024	$39,234.27	-		57,323
Jupiter Investment Management LTD	27/11/2024	$14,733.88	-		20,865
Jupiter Investment Management LTD	28/11/2024	$13,009.66	-		18,769
Jupiter Investment Management LTD	29/11/2024	$34,782.49	-		46,465
Jupiter Investment Management LTD	02/12/2024	$207,841.18	-		254,144
Jupiter Investment Management LTD	03/12/2024	$16,162.28	-		19,941
Jupiter Investment Management LTD	04/12/2024	$105,171.48	-		124,210
Jupiter Investment Management LTD	05/12/2024	$131,380.50	-		142,625
Jupiter Investment Management LTD	06/12/2024	$83,175.24	-		89,468
Jupiter Investment Management LTD	09/12/2024	$48,642.23	-		51,837
Jupiter Investment Management LTD	10/12/2024	$100,622.84	-		103,908
Jupiter Investment Management LTD	11/12/2024	$75,688.78	-		77,543
Jupiter Investment Management LTD	17/02/2025	$11,250,000	-		14,062,500

6. Associates

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

See attached Annexure A

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603

Name and ACN/ARSN (if applicable)

Nature of association

7. Addresses

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

Name	Address
Jupiter Investment Management LTD	The Zig Zag Building, SW1E 6SQ 70 Victoria Street, London,
	0044 2038171620

Signature

print name C.Rodway

sign here

capacity	Regulatory Reporting Manager
date	18.02.2025

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 7 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 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 associate has a relevant interest in.

• (6) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (7) Include details of:

• (a) any relevant agreement or other circumstances by which the relevant interest was acquired. 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

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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.

• (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) 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.

THIS IS ANNEXURE A OF 1 PAGE REFERRED TO IN FORM 603

Polymetals Resources Limited

644 736 247

LIST OF ASSOCIATES OF Jupiter Investment Management Limited

Jupiter Fund Management PLC England and Wales

Merian Global Investors Limited Jersey

Merian Global Investors (Jersey) Limited Jersey

Merian Global Investors ( Finance) Limited Jersey

Merian Global Investors Holdings Limited England and Wales Jupiter Investment Management Limited England and Wales Jupiter Fund Managers Limited England and Wales

Jupiter Asset Management (Asia Pacific) Limited Hong Kong Skandia Fund Management (Ireland) Limited Ireland Jupiter Asset Management (Europe) Limited Ireland Jupiter Fund Management Group Limited England and Wales Jupiter Asset Management Group Limited England and Wales Knightsbridge Asset Management Limited England and Wales Jupiter Investment Management Group Limited England and Wales Jupiter Asset Management Limited England and Wales Jupiter Asset Management ( Hong Kong) Limited Hong Kong Jupiter Asset Management (Switzerland) AG Switzerland Tyndall Holdings Limited England and Wales Jupiter Asset Management (Canada) Limited Canada Jupiter Asset Management (N. America) Inc USA Jupiter Asset Management Holdings US LLC USA Jupiter Investment Management Holdings LLC USA Jupiter Management GP LLC USA

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NZS Capital LLC USA

Jupiter Unit Trust Managers Limited England and Wales

Jupiter Asset Management International S.A. Luxembourg

Jupiter Asset Management (Asia) Private Limited Singapore

Jupiter Investment Trust Limited England and Wales

Tyndall Investments Limited England and Wales

Jupiter Asset Management International S.A. Spanish Branch Madrid Jupiter Asset Management International S.A Nordic Branch Stockholm Jupiter Asset Management International S.A. Niederlassuno Deutscheland Frankfurt

Jupiter Asset Management International S.A. Irish Branch Dublin Jupiter Asset Management International S.A. Italian Branch Milan Jupiter Asset Management Australia Pty Limited Australia