St Barbara : Change of substantial holding in Peel Mining Limited (PEX)

604 Page 1 of 3 15 July 2001

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

ToCompany Name/Scheme	PEEL MINING LIMITED (PEX)
ACN/ARSN		119 343	734
1. Details of substantial holder (1)
Name	ST BARBARA LIMITED (SBM)
ACN/ARSN (if applicable)		009 165	066

There was a change in the interests of the substantial holder on

The previous notice was given to the company on

The previous notice was dated

2. Previous and present voting power

23/04/2021

13/08/2020

13/08/2020

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 when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
		12.87% (based		9.93% (based
			on
		on 303,683,611
		41,537,109	418,097,757
ORDINARY SHARES	39,093,750	ordinary
ordinary
		shares on
			shares on
		issue)
			issue)

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

	Date of	Person whose	Nature of change (6)	Consideration given	Class and number	Person's votes
	change	relevant interest		in relation to change	of securities	affected
		changed		(7)	affected
			SBM's voting
			power in PEX
			has changed as
			a consequence
			of the
			purchase of
			new ordinary
			shares in PEX		2,443,359
		ST BARBARA	issued in
	01/09/2020	connection	$427,588	ORDINARY	2,443,359
	LIMITED
		with the pro		SHARES
			rata non-
			renounceable
			entitlement
			offer
			announced to
			ASX on 3
			August 2020.
			SBM's voting

604 Page 2 of 3 15 July 2001

		power in PEX
		decreased by
		less than 1%
		as a result of
		the purchase.
		SBM's voting
		power in PEX
		has decreased
		as a
		consequence of
		the issue of
	ST BARBARA	new ordinary		Not	Not
18/03/2021	shares in PEX	Not applicable
LIMITED	in connection	applicable	applicable
		with the
		placement to
		institutional
		investors
		announced to
		ASX on 10
		March 2021.
		SBM's voting
		power in PEX
		has decreased
		as a
		consequence of
		the issue of
		new ordinary
	ST BARBARA	shares in PEX		Not	Not
23/04/2021	in connection	Not applicable
LIMITED	applicable	applicable
	with the pro
		rata non-
		renouncaeable
		entitlement
		offer
		announced to
		ASX on 16
		March 2021.

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of	Registered holder	Person entitled to be	Nature of relevant	Class and number	Person's votes
relevant	of securities	registered as holder	interest (6)	of securities
interest		(8)
ST	ST BARBARA	ST BARBARA	Registered	41,537,109
BARBARA	ORDINARY	41,537,109
LIMITED	LIMITED	holder
LIMITED	SHARES

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
NOT APPLICABLE	NOT APPLICABLE

6. Addresses

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

604 Page 3 of 3 15 July 2001

	Name	Address
	ST BARBARA LIMITED	LEVEL 10, 432 ST KILDA ROAD, MELB0URNE VIC 3004

Signature

print name	SARAH STANDISH	capacity	COMPANY SECRETARY
sign here		date	26/04/2021

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 6 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 person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
6. Include details of:
7. 1. any relevant agreement or other circumstances because of which the change in relevant interest occurred. 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
   2. 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.

1. 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.
2. 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".
3. Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.