RAGUSA MINERALS LTD — Proxy Solicitation & Information Statement 2020

Jul 21, 2020

SIV Asset Management Limited ACN 143 194 165

Level 2, 22 Mount Street, Perth WA 6000 Australia

22 July 2020

Dear Shareholder,

GENERAL MEETING – COVID-19 ARRANGEMENTS

Siv Asset Management Limited (“the Company”) advises that a General Meeting of the shareholders of the Company is scheduled to be held by virtual technology on 24 August 2020 at 11:30am (Melbourne, Victoria time) (“the Meeting”).

The Meeting has been convened to seek shareholder approvals in connection with the proposed acquisition by the Company of all the issued capital of Balancing Rocks Zim Pty Ltd. Further details are set out in the announcement(s) released by the Company to ASX on 17 April 2019 and 2 July 2020.

In accordance with temporary modifications to the Corporations Act under the Corporations (Coronavirus Economic Response) Determination (No. 1) 2020, hard copies of the Notice of the Meeting are not being mailed to shareholders. The Notice of the Meeting can be viewed and downloaded at www.asx.com.au, search code “SAM”.

The health and safety of members and personnel, and other stakeholders, is the highest priority and the Company is acutely aware of the current circumstances resulting from COVID-19, in particular in Victoria. While the COVID-19 situation remains volatile and uncertain, based on the best information available to the Board at the time of the Notice of Meeting, the Company intends to conduct the Meeting virtually via Zoom.

Shareholders are strongly encouraged to vote by lodging a directed proxy appointing the Chairman before 11:30am, 22 August 2020. A personalised proxy form is enclosed. Proxies can be lodged in accordance with the instructions in the personalised proxy form enclosed with this letter.

Arrangements for attendance by Zoom, with the ability to ask questions, can be made by contacting Michael Melamed, a Director and the Company Secretary, by email at mMelamed01@gmail.com at least two business days before the meeting. Arrangements will be made for direct voting at the virtual Meeting by shareholders, proxies, corporate representatives and holders of powers of attorney.

In addition, the Company is happy to accept and answer questions submitted at least two business days prior to the Meeting by email to mMelamed01@gmail.com.

Because the conditions and potential restrictions and other requirements for meetings relating to COVID-19 are rapidly changing, if it becomes necessary or appropriate to make alternative arrangements to those set out in this Notice of General Meeting the Company will announce the alternative arrangements to ASX. Shareholders are encouraged to check for announcements at the ASX website www.asx.com.au, search code “SAM”.

The Company thanks shareholders for their ongoing support.

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Michael Melamed

Director and Company Secretary