Resolute Mining Limited — Major Shareholding Notification 2020

May 6, 2020

603 page 1/2 15 July 2001

Form603

Corporations Act 2001 Section 671B

Notice of initial 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 became a substantial holder on

05/05/2020

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)
Ordinary shares	54,844,358	54,844,358	5.008%

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:

follows:
Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
IPConcept (Luxembourg) S.A.	Buy shares	Ordinary shares 54,844,358

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
see Annexure A

5. Consideration

The consideration paid for each relevant interest referred to in paragraph3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration (9)	Consideration (9)	Class and number of securities
		Cash	Non-cash
see Annexure B

603 page 2/2 15 July 2001

6. Associates

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

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Name and ACN/ARSN(if applicable) Nature of association
7. 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
print name capacity
sign here date / /
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DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporation 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 inparagraph7 of the form.

• (2) See the definition of "associate" insection9 of the Corporations Act 2001.

• (3) See the definition of "relevant interest" in sections608and671B(7)of the Corporations Act 2001.

• (4) he voting shares of accompany 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 multipliedby100.

• (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 power or 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.

603 GUIDE page 1/1 13 March 2000

GUIDE This guide does not form part of the prescribed form and is included by ASIC to assist you in completing and lodging form 603.

Signature

This form must be signed by either a director or a secretary of the substantial holder.

Lodging period

Lodging Fee

Other forms to be completed

Nil Nil Nil

Additional

information

• (a) If additional space is required to complete a question, the information may be included on a separate piece of paper annexed to the form.

• (b) This notice must be given to a listed company, or the responsible entity for a listed managed investment scheme. A copy of this notice must also be given to each relevant securities exchange.

• (c) The person must give a copy of this notice:

• (i) within 2 business days after they become aware of the information; or

• (ii) by 9.30 am on the next trading day of the relevant securities exchange after they become aware of the information if:

  • (A) a takeover bid is made for voting shares in the company or voting interests in the scheme; and (B) the person becomes aware of the information during the bid period.

Annexures

To make any annexure conform to the regulations, you must

• 1 use A4 size paper of white or light pastel colour with a margin of at least 10mm on all sides

• 2 show the corporation name and ACN or ARBN

• 3 number the pages consecutively

• 4 print or type in BLOCK letters in dark blue or black ink so that the document is clearly legible when photocopied

• 5 identify the annexure with a mark such as A, B, C, etc

• 6 endorse the annexure with the words:

This is annexure (mark) of (number) pages referred to in form (form number and title)

• 7 sign and date the annexure

The annexure must be signed by the same person(s) who signed the form.

Informationinthisguideisintendedasaguideonly.Pleaseconsultyouraccountantorsolicitorforfurtheradvice.

Annexure A

4. Details of present registered holders

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder	Class and number of securities
IPConcept (Luxembourg) S.A.	DZ Privatbank S.A. as custodian	Stabilitas – Gold+Resourcen Special Situations	Shares 400,000
IPConcept (Luxembourg) S.A.	DZ Privatbank S.A. S.A. as custodian	Stabilitas – Pacific Gold+Metals	Shares 5,000,000
IPConcept (Luxembourg) S.A.	DZ Privatbank S.A. S.A. as custodian	Bakersteel Global Funds SICAV – Electrum Fund	Shares 1,412,000
IPConcept (Luxembourg) S.A.	DZ Privatbank S.A. S.A. as custodian	Bakersteel Global Funds SICAV – Precious Metals Fund	Shares 48,032,358

Annexure B

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.

Holder of relevant interest	Date of acquisition	Consideration		Class and number of securities
		Cash	Non-Cash
IPConcept (Luxemburg) S.A.	Trade Date 04.05.2020	AUD 276,907.50	-	310.000
IPConcept (Luxemburg) S.A.	Trade Date 25.03.2020	AUD 6,092,100.00	-	7.000.000
IPConcept (Luxemburg) S.A.	Trade Date 17.03.2020	AUD 4,112,165.79	-	5.770.165
IPConcept (Luxemburg) S.A.	Trade Date 30.01.2020	AUD 9,804,512.30	-	8.913.193
IPConcept (Luxemburg) S.A.	Trade Date 30.01.2020	AUD 247,500.00	-	225.000
IPConcept (Luxemburg) S.A.	Trade Date 23.01.2020	AUD 2,240,775.08	-	1.925.000
IPConcept (Luxemburg) S.A.	Trade Date 23.01.2020	AUD 87,302.93	-	75.000
IPConcept (Luxemburg) S.A.	Trade Date 23.12.2019	AUD 877,125.75	-	802.000
IPConcept (Luxemburg) S.A.	Trade Date 05.12.2019	AUD 1,718,500.00	-	1.400.000
IPConcept (Luxemburg) S.A.	Trade Date 28.11.2019	AUD 2,564,100.00	-	2.200.000
IPConcept (Luxemburg) S.A.	Trade Date 27.11.2019	AUD 1,827,200.00	-	1.600.000