Resolute Mining Limited — Major Shareholding Notification 2020

May 17, 2020

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme	Resolute Mining Ltd
ACN/ARSN	097 088 689
1. Details of substantial holder(1)
Name	IPConcept (Luxembourg) S.A.
ACN/ARSN (if applicable)	N/A
The holder ceased to be asubstantial holder on	13 05 2020
The previous notice was given to the company onThe previous notice was dated	06' 05/202006 05 2020
2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since thesubstantial holder was last required

Date ofchange	Person whoserelevant interestchanged	Nature ofchange $(4)$	Considerationgiven in relationto change $(5)$	Class (6) andnumber ofsecuritiesaffected	Person's votesaffected
13.05.2020	IPConcept(Luxembourg) S.A.	change inloutstanding shares	N/A	N/A	IPConcept (Luxembourg) S.A.now holds 4,973% of voting power
		lper Final issue ofTranche 2 Placement			ISee Annexure A

Shares, dated13.05.2020

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) 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

4. Addresses

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

	Name		Address
	Silvia Mayers		Rue Thomas Edison 4, B.P. 661, L-1445 Luxembourg
Signature			IPConcept (Luxemburg) S.A.
	print name	Silvia Mayers	A-pue Thomas Edison
	sign here		05 2020date

DIRECTIONS

• 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 $(1)$ 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 4 of the form.
• $(2)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(3)$
• Include details of: $(4)$
  • any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any $(a)$ 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 c
  • 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 $(b)$ 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.

• $(5)$ 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.
• $(6)$ The voting shares of a company constitute one class unless divided into separate classes.
• $(7)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

Annexure A

4. Details of present registered holders

Holder of relevantinterest	Registered holder ofsecurities	Person entitled to beregistered as holder	Class and numberof securities
IPConcept(Luxembourg) S.A.	DZ Privatbank S.A.as custodian	Stabilitas –Gold+ResourcenSpecial Situations	Shares 400,000
IPConcept(Luxembourg) S.A.	DZ Privatbank S.A.S.A. as custodian	Stabilitas – PacificGold+Metals	Shares 5,000,000
IPConcept(Luxembourg) S.A.	DZ Privatbank S.A.S.A. as custodian	Bakersteel GlobalFunds $SICAV -$Electrum Fund	Shares 1,412,000
IPConcept(Luxembourg) S.A.	DZ Privatbank S.A.S.A. as custodian	Bakersteel GlobalFunds SICAV-Precious Metals Fund	Shares 48,032,358