Resolute Mining Limited — Major Shareholding Notification 2023

Oct 1, 2023

Form 603

Corporations Act 2001

Section 671B

Notice of initial substantial holder

To Company Name / SchemeACN/ARSN 1. Details of substantial holder (1)NameACN/ARSN (if applicable)The holder became a substantial holder on2. Details of voting powerThe total number of votes attached to all the voting shares inrelevant interest (3) in on the date the substantial holder becClass ofsecurities (4)Ordinary Shares	To Company Name / SchemeACN/ARSN 1. Details of substantial holder (1)NameACN/ARSN (if applicable)The holder became a substantial holder on2. Details of voting powerThe total number of votes attached to all the voting shares inrelevant interest (3) in on the date the substantial holder becClass ofsecurities (4)Ordinary Shares	RESOLUTE MININGLTD
		097088 689
		BAKERSTEELCAPITAL MA	NAGERSLLP(CLIENTS OF AND ASSOCIATEDORCONNECTED PARTIES)
		the company or voting interestame a substantial holder are as	s in the scheme that the substantial holder or an associate (2) had afollows:Person'svotes (5)Voting power(6)5.17%28-Sep-23100,003,500
	Class ofsecurities (4)	Numberofsecurities		Person'svotes (5)	Voting power(6)
	Ordinary Shares	100,003,500		100,003,500	5.17%

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:

Holderof relevantinterest	Nature of relevantinterest (7)	Class andnumberofsecurities
BakerSteel PreciousMetalsFund	Beneficial Holder	ordinary /106,674,100
BakerSteelUKGold &PreciousMetalsFund	Beneficial Holder	ordinary /3,329,400

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 ofsecurities	Person entitled to beregistered asholder(8)	Class and numberofsecurities
BakerSteel PreciousMetalsFund	BNP Paribas Securities Services Sydney	as previous column	ordinary /106,674,100
BakerSteelUKGold &PreciousMetalsFd	CITIGROUP PTY LIMITED	as previous column	ordinary /3,329,400

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 (9) Cash |Non-cash|Class and numberofsecurities| |---|---|---|---| |refer to schedule 1 attached|||| |||||

6. Associates

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

Name andACN/ARSN(ifapplicable)	Nature ofassociation
BakerSteel PreciousMetalsFund	discretionarymandate of investmentmanager
BakerSteelUKGold &PreciousMetalsFund	discretionarymandate of investmentmanager

7. Addresses

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

Name	Address
forallentitieslisted…	c/oBakerSteelCapital ManagersLLP
	34 DoverSteet,London W1S4NG

Signature

print name	Tino Isnardi	capacity	Head of Trading
sign here		date	29-Sep-23

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 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.

SCHEDULE 1

Date ofChange	Person whose relevant interestchanged	Nature of change (6)	Consideration givenin relation to change(7)	Class and number ofsecurities affected	Person's votes affected
28-Sep-23	Baker Steel Precious Metals Fund	market purchase	-AUD 166,483	odinary	500,000
28-Sep-23	Baker Steel UK Gold & Precious Metals F	market purchase	-AUD5,267	odinary	15,900
27-Sep-23	Baker Steel Precious Metals Fund	market purchase	-AUD595,998	odinary	1,750,000
26-Sep-23	Baker Steel Precious Metals Fund	market purchase	-AUD603,877	odinary	1,750,000
26-Sep-23	Baker Steel UK Gold & Precious Metals F	market purchase	-AUD5,502	odinary	16,000
23-Jun-23	Baker Steel Precious Metals Fund	market purchase	-AUD 2,448,048	odinary	6,334,000
23-Jun-23	Baker Steel UK Gold & Precious Metals F	market purchase	-AUD 47,111	odinary	122,000
19-Jun-23	Baker Steel Precious Metals Fund	market purchase	-AUD 1,425,799	odinary	3,308,000