Fitzroy River : RCO - Change in substantial holding from FZR - 27 January 2017

Form 604

Corporations Act 2001

Section 6718

Notice of change of interests of substantial holder

E0-1 pae ' 2 15 Ju y 20 '

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& o'1 AL CO f So v,Z ES L 1 M J"'1> _

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- -- - - -----------

1. Details of substantial holder(1)

ACl,AR 'IJ I f ophcaOleJ

1r, , n

Tn re 1•,a, a crarge e, :he n:erests oi te

... bs:al"lt a "lo dr G"

T·e P'ev:.s rct ce 1·.a ver !o tre cornoary 0

u23 ,, 1, ,.n.,

"7" ,,e O'e· o:..; 1u: ce v,as

cated

1. . Previous and present voting power

   Trie to:a .,,:,er of votes aaache:! :a :re voLr.g shares ·n :1e copariy or vo:.r ., e"eS'.s .n tne scrier. e :..a: re Sl. sta,..:·a, "C 1 Cer or ar dSSX ae {2) 1ac a re e11a: r:e:..es: l3l

   ,r ',hen last requ reC ard l"E'"' '10W recu ..ec :'.:i g e a SJbs 3n ral nc!ding notice to tre corroa,y C'" scre e. are as lo' 01/S

   C asso' se:cn: es '.4) :::re, OJS nc:.:e Preser : c::e

   ------· oe"sJr's ,.-tes Vo! r:c p:...',er ,5)

   PersG'1's Ote ]_.PC\e'" 15! --·

   1

   , Oll b i 1'iiti SHA E S _21

   f51 l't(, )1 1 qS. t4h ('il :_ 5°4_21, S 211s2 22.5"12_, 152 _(j2.,2 •/.)

2. Changes in relevant interests

Part L. a'"s f e:a::h c1ar1£e r er crarge '1 t'le r;:-r c' a rt: va1t r::e'est cf tr.e subs!ar 1a 1 n lc!E:r er a" assoc.3 e "' vc: ,,g secu' !es c: '.e co.,.,pany or scrtrr sircB :re

Da:e of	Person v,hcse	a!ure of	Cors:de·a:,cri	Closs a0 c	Persori·s 10:es
change	relevar: 1rlereo:	c·ase (6)	t;·ver 1n re at a,	•,v'lber of	a"ectea
:o chrge ,1·	sec.1r :::;s

s.;os:art,a, "O ce'. was as reqJ.red :o g ve a sJbs'.arit·al c c,09 '10: ce :o :ne corrpariy C' sc0 erre 3'e as 'a J.•. s

1. Present relevant interests

   H: C:?'" 0:	Re,rs:erec	Pc·sc· er:: ec	a:.•e c'	C ass a"j	Pars:Y,.S -O!t:S
   relevan	o er o'	to oe ,eg stered	reievan·	nJmber cf
   ,riterest	secur:ies	as ho cer (8)	n:e·es: 16)	secv,r es

   -- -- -

   a"ec:ec

   r:,:?Z. i(oj A l A dov E " IE R l Adiw E U:(.;J'L. + 2=..-l.2S'2.-12..522, IS"2 .

   -6Ef'lt':J C. I A L.. 'tl·1"4 L

   H o t.. or

   604 oae 2 2 15 Ju y 200'.

2. Changes in association

Tne perso,,11no rave be:cme associa:es (2) ct. cease to be ssoc ates of. c· n.m,:ranged :he rature or treir asscc at,3r 191 w1tn. tre substar: a, holce, ,r relation to voting

,r.terests .n tne corrpany er screme a,e as fol1c1•.s-

1 -- -_ -=--=----

ae and AC'J'ARS', ,f ac;::at .e)

t,at.re c' assoc a: 1

6. Addresses

foe add·esses o' pe'scns narreo 11 trns 'orm are as 'al ows

a,.,.,e A:dress -------- ---

Lfvn 1 1 2

1"R f°ti · S''l 0 N €'i N SW 2 000

--------------------------------

Signature

pnr: ra'l'e

sign here

(/

da'e J.'11 lt

DIRECTIONS

(1) If :J1re are a rum cc• of substat al 1·01ders w lh s o dar or re a!ed reie'lant ,n:c•ests (cg. a co•porat,on ard ,ts rC:atcc co-pora:1ons. or the mara£er and l'us:ec o' an eqL !/ trus'.) t•e nar'eS cou'c ce nc'u:ed r ar annexJre to :he 'or'Tl I'. :t,e rtlevar r:e•ests o' a 9'0'.c o'. oersons are essen ,ally s,m lar they rray be re•erred to mrocgrout :re •orrr a a spec,fica ly 'lall'ea roup 'tre 'llernoer,r1p oi ea::r gr..,uo, v, tt, tne "orres ac a cresses a reemoers s c early set o: '1 pa"agrach 6 c' ;'le ':rr

,,, ec tre def n tlor o' ·asso::ia:e 1se:'.·on 9 c' tre C:vporal crs Act 200'.

(3) See tre def n t,or o' "relevart .n!eresr ,n sec: ons 608 ar.d 6718(7) cf te C:rpo,auors Act 2CO • .

4! Tee vot rg snare, of a ccr,ipa'1y cors:·:1..te 0°e c ass Ln ess c,v,cea 'lta separa:e c asses

1. Tre r,e-s:n·s vo'.es d, •ded by tre :c:a: vo!es ," 1re cdy cor:ora:e o· scree rr J1; phec cy 1G.

   !o) Ire uce ce:a Is cf.

2. a'ly re eart ag,eemer: or c:re ·c.rcJrr,;ta, es oeca·.se o· 1·.,c, t'le:ra'lge s re'e,arl :crest o:c1.."ec 1i ,Jse:t on 67'B(l) aop es a cccy c' ary co:urre'lt se:Jr.g CJt tre terrrs o: any re e •an: ag•eer1Mt. ac a stater,ert by :ne ersor g,11ng '.i arj accurate de:a s of any con:•a:I scre,,.e or

a-rangernen: rJst acCD'!1pa"y ths forrr. together 11 t" a 11ri:tec statement ce11fy,ng Jc s con:ra.:: scl·erie or arrangerien: an:J

to) any Ga' f ca: or. 01:he oo,1er o' a person :o exe-c1se co1tro' tre exerase of. or irJerce :e exerc s.; of. tre voting po\-e 's or c sposa of :e se:Jm,es to 1·.r,cn the re eva1t r:erest re'ate (inc.ca: ng clear.y tre pa c. a· secunt e. to 11 ,ch :he qua! r ca: er ocpi es)

See Ire cei,e.tt or of re ev.;nt agreen1en: ,n sec, on 9 o' Ire cc,"ora: o,s Ac: 2GC-

(7) De a Is oi tne cons1dera:1on mus: •nc.•de any aad a·, ce'le'its. money ano ctre' ;nat ary ce,sor from .1no'Tl a rt'e am .r.te•est 1,a a:qJ1•ec nas C' ma:; be:Jm e ent,tled to receive ir re1at,or :o trat acqL s tion. Dela s m1.. s: be re.weed e en ,f the beref.t •s ccnc tonal c1 :"e happenirg or re! o' a cart en.:y. De:a Is 'Tlus:oe nc .de of any berefit pa,c er be 0aI o' tre subs,art a, rolue' o· b assoc a:e n re aLo'l to the aCA;u,s t.crs even 1;ney are rot pa·d d,rect.y to tne person fro,r, .1horn

:ne re evat nterest was acquired.

{9; G ve Cs:a s. f acprocr·ate of t"'e creserit asscc,a :1r. am: ariy chan9e 1fl a: assoc·a·.on s ce '.'le as! sLbs:Br't al noi:: ns r:r ee.

SCHEDULE 1 ATTACHMENT TO FORM 604 DATED 27 JANUARY, 2017

Shares acquired on market since last Notice:

Date of Change	Person whose relevant interest changed	Nature of change	Consideration given in relation to change	Class and number of securities affected	Persons votes affected
23/01/17	Fitzroy	On Market Purchase	$0.20 per share	2,500	2,500
24/01/17	Fitzroy	On Market Purchase	$0.20 per share	22,750	22,750
25/01/17	87,228	87,228
Total:	112,478

Shares acquired pursuant to Off Market Offer under Replacement Bidder's Statem ent dated 21 December 2016 since last Notice:

Date of Change	Person whose relevant interest changed	Nature of change	Consideration given in relation to change	Class and number of securities affected	Persons votes affected
23/01/17	Fitzroy	Increase in	$0.20 per share	226,436	226,436
		relevant interest	being the Offer
		as a result of	Price under the
		acceptances of	Takeover Offer
		Fitzroy's takeover
		off under the
		Replacement
		Bidder's
		Statement dated
		21/12/16
		(Takeover Offer)
24/01/17	Fitzroy	As above	As above	146,092	146,092
25/01/17	Fitzroy	As above	As above	82,000	82,000
Total	454,528	454,528