WEST WITS MINING LIMITED — Director's Dealing 2022

Jan 27, 2022

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	West Wits Mining Limited
ABN	89 124 894 060

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Jacobus van Heerden
Date of last notice	14/01/2022

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest		Direct and indirect	Direct and indirect	Direct and indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.		BNP PARIBAS NOMS PTY LTD shares on behalf of the Director.			- nominee entity holding
Date of change		28/01/2022
No. of securities held prior to change
			Shares	Options	Performance Rights
		Direct	1,000,000	5,025,000	3,000,000
		Indirect	7,465,311	-	-
		Total	8,465,311	5,025,000	3,000,000
Class		Right to direct interest in subsidiary, West Wits MLI (Pty) Ltd
Number acquired		Not applicable
Number disposed		Right to 0.66% direct interest in subsidiary, West Wits MLI (Pty) Ltd.

• See chapter 19 for defined terms.

01/01/2011

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Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation		$264,000
No. of securities held after change
			Shares	Options	Performance Rights
		Direct	1,000,000	5,025,000	3,000,000
		Indirect	7,465,311	-	-
		Total	8,465,311	5,025,000	3,000,000
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back		As previously disclosed, Jac van Heerden was granted as part of his remuneration a right to receive a 1% direct interest in West Wits MLI (Pty) Ltd (WWI MLI), a subsidiary company of WWI. Mr van Heerden and WWI have agreed to vary his remuneration by replacing the look-through share of WWI of the right granted to Mr van Heerden to receive a 1% direct interest in WWI MLI (being 0.66%, which is equal to 66% of 1%) with a cash payment of $264,000. The quantum of the cash payment was determined by valuation of the 0.66% interest in WWI MLI. The decision to vary the remuneration of Mr van Heerden by replacing the WWI’s proportion of his look-through right to receive a 1% interest in WWI MLI with a cash payment was made to enable Mr van Heerden to fund his personal tax liabilities arising from historical allotments of WWI securities as part of his past remuneration. As a result of the variation, WWI’s interest in WWI MLI will no longer be diluted if Mr van Heerden exercised his right to acquire a direct interest in WWI MLI. The Board (with Mr van Heerden abstaining due to his material personal interest) consider the variation to be reasonable in the circumstances of WWI and of Mr van Heerden on the basis of the valuation, the responsibilities of Mr van Heerden as Managing Director, the cash position of WWI and the desirability for WWI to maximise its holding in WWI MLI including for the long-term benefit of its shareholders.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract N/A

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	Yes
If so, was prior written clearance provided to allow the trade to proceed during this period?	Yes
If prior written clearance was provided, on what date was this provided?	27/01/2022

• See chapter 19 for defined terms.

01/01/2011

Appendix 3Y Page 3