Havilah Resources : Notice of General Meeting/Proxy Form

For personal use only

HAVILAH RESOURCES LIMITED

ACN 077 435 520

NOTICE OF GENERAL MEETING

A general meeting of the Company will be held at the Fullarton Room, Arkaba Hotel, 150 Glen Osmond Road, Fullarton SA 5063 on Wednesday, 31 August 2022 at 11:00am (Adelaide time).

The Independent Expert, BDO Corporate Finance (SA) Pty Ltd, has concluded that the Kalkaroo Transaction is fair and reasonable to, and in the best interests of, Shareholders in the absence of a superior offer.

Your Directors unanimously recommend that Shareholders vote in favour of the Resolution in the absence of a Superior Proposal and subject to the Independent Expert continuing to opine that the Kalkaroo Transaction is in the best interests of Shareholders.

Havilah Resources Limited (Company) advises Shareholders that the Company has made arrangements for the general meeting (Meeting) to also be held virtually via an online platform. Details on how to access the Meeting virtually are provided in the Notice.

Shareholders can also submit, and are encouraged to submit, any questions in advance of the Meeting by emailing the questions to [e-mail] by no later than 11:00am (Adelaide time) on Monday, 29 August 2022.

If the above arrangements with respect to the Meeting change, Shareholders will be updated via the ASX market announcements platform.

The Notice should be read in its entirety. If Shareholders are in doubt as to how they should vote, they should seek advice from their stockbroker, accountant, solicitor or other professional adviser prior to voting.

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Table of Contents
AGENDA ...............................................................................................................................	3
1	Resolution 1 - Approval of the Proposed Transaction and disposal of interest
	in Kalkaroo Project...................................................................................................	3
EXPLANATORY MEMORANDUM ........................................................................................	5
1	Introduction...............................................................................................................	5
2	Action to be taken by Shareholders........................................................................	5
	2.1	Voting eligibility..............................................................................................................	5
	2.2	How to vote....................................................................................................................	6
	2.3	Voting in person.............................................................................................................	6
	2.4	Voting online..................................................................................................................	6
	2.5	Proxies...........................................................................................................................	6
	2.6	Corporate representatives.............................................................................................	7
	2.7	Power of attorney ..........................................................................................................	7
	2.8	Technical difficulties ......................................................................................................	8
	2.9	Further information ........................................................................................................	8
3	Background to Resolution 1 ....................................................................................	8
	3.1	Background ...................................................................................................................	8
	3.2	Proposed Transaction ...................................................................................................	9
	3.3	Kalkaroo Option...........................................................................................................	10
	3.4	Kalkaroo Station Pastoral Lease .................................................................................	10
	3.5	Strategic Alliance.........................................................................................................	10
	3.6	Terms Sheet Conditions ..............................................................................................	11
	3.7	Break fee .....................................................................................................................	12
	3.8	Independent Expert .....................................................................................................	12
	3.9	Rationale .....................................................................................................................	12
	3.10	Advantages and disadvantages of the Proposed Transaction....................................	13
	3.11	Directors' recommendation and voting intention .........................................................	13
4	Resolution 1 - Approval of the Proposed Transaction and disposal of interest
	in Kalkaroo Project.................................................................................................	14
	4.1	General........................................................................................................................	14
	4.2	Specific information required by ASX..........................................................................	15
	4.3	Voting exclusion statement .........................................................................................	16
	4.4	Board recommendation ...............................................................................................	16
Schedule 1..........................................................................................................................	17
	Definitions.................................................................................................................................	17
Schedule 2..........................................................................................................................	21
	Pro forma statement of financial position (unaudited)..............................................................	21
Schedule 3..........................................................................................................................	23
	Transaction Documents ...........................................................................................................	23
Schedule 4..........................................................................................................................	34
	Independent Expert's Report....................................................................................................	34

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For personal use only

HAVILAH RESOURCES LIMITED

ACN 077 435 520

NOTICE OF GENERAL MEETING

Notice is hereby given that a general meeting of shareholders of Havilah Resources Limited (Company) will be held at the Fullarton Room, Arkaba Hotel, 150 Glen Osmond Road, Fullarton SA 5063 on Wednesday, 31 August 2022 at 11:00am (ACST) (Meeting). Shareholders will also be able to attend the Meeting virtually via an online platform at https://meetnow.global/MA2NUYX.

Due to the COVID-19 pandemic, in the interests of the health and safety of Shareholders, the Company has made arrangements for Shareholders to participate in the Meeting electronically. Details on how to attend electronically are specified in the Explanatory Memorandum below. The Explanatory Memorandum provides additional information on matters to be considered at the Meeting. The Explanatory Memorandum and the Proxy Form both form part of the Notice.

The Directors have determined pursuant to regulation 7.11.37 of the Corporations Regulations 2001 (Cth) that the persons eligible to vote at the Meeting are those who are registered as Shareholders on Monday, 29 August 2022 at 11:00am (ACST).

Terms and abbreviations used in the Notice (including the Explanatory Memorandum) are defined in Schedule 1.

AGENDA

1 Resolution 1 - Approval of the Proposed Transaction and disposal of interest in Kalkaroo Project

To consider and, if thought fit, to pass with or without amendment, the following Resolution as an ordinary resolution:

"That Shareholders approve and authorise the Company to enter into the Proposed Transaction, and that pursuant to and in accordance with Listing Rule 11.2 and for all other purposes, Shareholders approve the grant of the Kalkaroo Option and, upon exercise of the Kalkaroo Option, the disposal of the Company's interest in the Kalkaroo Project, being its main undertaking, in accordance with the Kalkaroo Transaction, on the terms and conditions set out in the Explanatory Memorandum."

Voting exclusion

The Company will disregard any votes cast on this Resolution by:

1. OZ Exploration and OZ Minerals or an associate of those persons; and
2. any other person who will obtain a material benefit as a result of the disposal of this main undertaking (except a benefit solely in their capacity as a holder of ordinary securities in the Company) or an associate of that person (or those persons).

However, the Company will not disregard a vote if it is cast in favour of this Resolution by:

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1. a person as proxy or attorney for a person who is entitled to vote on this Resolution, in accordance with directions given to the proxy or attorney to vote on the Resolution in that way;
2. the Chair as proxy or attorney for a person who is entitled to vote on this Resolution, in accordance with a direction given to the Chair to vote on the Resolution as the Chair decides; or
3. a holder acting solely in a nominee, trustee, custodial or other fiduciary capacity on behalf of a beneficiary provided the following conditions are met:
4. 1. the beneficiary provides written confirmation to the holder that the beneficiary is not excluded from voting, and is not an associate of a person excluded from voting, on this Resolution; and
   2. the holder votes on this Resolution in accordance with directions given by the beneficiary to the holder to vote in that way.

Chair voting intentions

The Chair intends to vote all available undirected proxies in favour of Resolution 1.

Dated: 25 July 2022

By order of the Board

Simon Gray

Company Secretary

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For personal use only

HAVILAH RESOURCES LIMITED

ACN 077 435 520

EXPLANATORY MEMORANDUM

1 Introduction

This Explanatory Memorandum has been prepared for the information of Shareholders in connection with the business to be conducted at the Meeting to be held at the Fullarton Room, Arkaba Hotel, 150 Glen Osmond Road, Fullarton SA 5063 on Wednesday, 31 August 2022 at 11:00am (ACST). The Directors have also made arrangements for Shareholders to attend the Meeting virtually via an online platform at https://meetnow.global/MA2NUYX.

This Explanatory Memorandum should be read in conjunction with and forms part of the Notice. The purpose of this Explanatory Memorandum is to provide information to Shareholders in deciding whether or not to pass the Resolution.

This Explanatory Memorandum includes the following information to assist Shareholders in deciding how to vote on the Resolution:

Section 1	Introduction
Section 2	Action to be taken by Shareholders
Section 3	Background to Resolution 1
	Resolution 1 - Approval of entry into the Proposed Transaction and disposal of
Section 4	interest in Kalkaroo Project
Schedule 1	Definitions
Schedule 2	Pro forma statement of financial position (unaudited)
Schedule 3	Transaction Documents
Schedule 4	Independent Expert's Report

A Proxy Form is located at the end of this Explanatory Memorandum.

2 Action to be taken by Shareholders

Shareholders should read the Notice including this Explanatory Memorandum carefully before deciding how to vote on the Resolution.

2.1 Voting eligibility

For the purposes of the Corporations Act, all securities of the Company that are quoted securities at 6.30pm (ACST) on Monday, 29 August 2022 will be taken to, for the purposes of the Meeting, to be held by the person who held them at the time and only such persons are eligible to vote at the Meeting.

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