WESTERN YILGARN NL — Capital/Financing Update 2021

Aug 11, 2021

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ASX Announcement

12 August 2021

Pacific Bauxite Limited (Subject to Deed of Company Arrangement) A.C.N. 112 914 459

(“the Company”)

(ASX Code: PBX)

The Deed Administrators of the Company, Messrs Richard Albarran and Cameron Shaw wish to provide stakeholders with an update to the ongoing recapitalisation of the Company.

Replacement Deed of Company Arrangement (“DOCA”) Proponent

On 5 August 2021, the Deed Administrators were presented with a proposal to vary the current DOCA from Oceanic Capital Pty Ltd (“Replacement Proponent”). The Company’s creditors will vote upon a resolution to consider this DOCA variation proposal at an upcoming meeting of the Company’s creditors on 23 August 2021.

If the aforementioned resolution is passed, the Replacement Proponent intends to recapitalise the Company.

Next Steps

Shareholders will be provided with an update following the creditors meeting.

Shareholder Enquires – Please contact Julian Bell Jbell@hallchadwick.com.au or (08) 6557 6200

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Yours faithfully,

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CAMERON SHAW

JOINT AND SEVERAL DEED ADMINISTRATOR

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