Minerals 260 : Less than Marketable Parcel Facility

ASX RELEASE | 14 March 2022 | ASX:MI6

For personal use only

Less than Marketable Parcel Sale Facility

Minerals 260 Limited (ASX:MI6, "Minerals 260" or "Company") is pleased to announce that it has established a share sale facility ("Facility") for holders of "Less than Marketable Parcels" (as defined below, and also referred to as "unmarketable parcels") of the Company's shares.

The Company is providing the Facility to allow smaller shareholders the opportunity to sell their shares without having to use a broker or pay brokerage. The Facility therefore provides an opportunity for holders of Less than Marketable Parcels to dispose of their shares in a cost-effective manner.

The Company values all its shareholders; however, it incurs significant administration costs maintaining a large number of Less than Marketable Parcels. By facilitating this sale, the Company expects to reduce the administrative costs associated with maintaining a large number of very small holdings. The Company holds a particularly large number of Less than Marketable Parcels as a result of the in-specie distribution undertaken in connection with its demerger from Liontown Resources Limited.

The ASX Listing Rules define a "Less than Marketable Parcel" as those with a market value of less than A$500.

As at 5:00pm (Perth time) on 11 March 2022 ("Record Date"), a Less than Marketable Parcel of shares is any shareholding of shares less than $500, based on the Company's closing share price of $0.48 on the Record Date. This represents 1,751,852 shares held by 5,304 shareholders ("LMP Holders").

If LMP Holders wish to sell their shares through this Facility, they do not have to take any action. If LMP Holders do not wish to sell their shares through this Facility, they must complete and return the Share Retention Form to the Company's share registry, Automic by 5.00pm (Perth time) on 28 April 2022 or increase your holdings so that by 5pm (Perth time) on the Closing Date, you are the registered holder of at least 1,042 shares.

The Facility will be subject to the terms in the attached letter which will be sent to LMP Holders with a Share Retention form by no later than 16 March 2022. If you have any queries about lodging your form or the practical operation of the Facility, please contact [e-mail] the Company's share registry, Automic on 1300 288 664 (within Australia), [phone] (outside Australia) between the hours of 8:30am and 5:00pm (AWST) Monday to Friday.

The Company intends to appoint Bell Potter Securities Limited as broker for shares sold under the Facility. Upon the sale of the Less than Marketable Parcel shares, proceeds shall be forwarded to LMP Holders as soon as possible. The Company will pay for all the costs of the sale for shareholders who use the Facility, excluding tax consequences from the sale which remain the shareholder's responsibility.

For personal use only

Key dates

The key dates for the Less than Marketable Parcel Sale Facility are outlined below.

Event	Date
Record Date	5.00pm (Perth time) on 11 March 2022
Announcement of Facility	14	March 2022
Notice sent to LMP Holders	16	March 2022
Closing date for receipt of Share Retention Forms	28	April 2022

Minerals 260 reserves the right to change any of the dates referred to in this announcement by notice to the ASX or to vary, delay or cancel the sale under the Facility and not proceed with the Facility, subject to the Constitution and ASX Listing Rules.

A copy of the correspondence being sent to LMP Holders is attached.

This announcement was approved for release to ASX by the Board of Minerals 260 Limited.

	- END -
For further information please contact:	Investor Relations:
David Richards	Nicholas Read
Managing Director	Read Corporate
T: [phone]	T: [phone]
[e-mail]	[e-mail]

Page 2 of 7

For personal use only

16 March 2022

Dear Shareholder

Less than Marketable Parcel Sale Facility

I am writing to you to advise that Minerals 260 Limited (ASX:MI6) (Minerals 260 or Company) has established a Less than Marketable Parcel Sale Facility (LMP Facility) for holders of parcels of fully paid ordinary shares in Minerals 260 (Shares) which are valued at less than A$500 as at the close of trade on 11 March 2022 (Less than Marketable Parcels).

The Company is offering this sale facility to assist holders of Less than Marketable Parcels to sell their Shares. Holders of Less than Marketable Parcels who take advantage of the LMP Facility will have their Shares sold without having to use a broker or pay brokerage. The Company intends to appoint Bell Potter Securities Limited as the broker for Shares sold under the LMP Facility. The Company will pay for all the costs of the sale for shareholders who use the LMP Facility, excluding any tax consequences from the sale (which remain the shareholder's responsibility).

Our records show that you held a Less than Marketable Parcel based on the Company's closing share price of A$0.48 on 11 March 2022 (Record Date), being a shareholding below 1,042 Shares.

Unless you advise the Company that you DO NOT WISH to sell your Shares within six (6) weeks of the date of this letter by returning the Share Retention Form, the Company intends to sell your Shares through the LMP Facility in accordance with article 2.6 and schedule 4 of the Company's Constitution and ASX Listing Rule 15.13. Proceeds of the sale will be sent to you following settlement of the sale or otherwise as soon as is reasonably practicable.

If you wish to participate in the LMP Facility, your Shares will be sold on-market after the Closing Date at the prevailing market price. The price you will receive for each Share will be the average price of every share sold on the ASX under the LMP Facility. All holders of Less than Marketable Parcels who are participating in the LMP Facility will receive the same price per Share and payment for your holding will be the average sale price multiplied by the number of your Minerals 260 Shares sold. As the sale price is an average, the proceeds you receive may be more or less than the actual price received by the broker for the sale of your Minerals 260 Shares.

If you DO NOT WISH to sell your Shares through the LMP Facility, you must complete and return the enclosed Share Retention Form to the Company's share registry, Automic, by 5.00pm (Perth time) on 28 April 2022 (Retention Date) or increase your holdings so that by 5pm (Perth time) on the Closing Date, you are the registered holder of 1,042 shares. The increase must be under the same registered name and address and with the same holder number (SRN or HIN) as set out in this letter. Please read the instruction on your personalised Share Retention Form carefully before completing it.

If you wish to sell your shares through this Facility, you do not have to take any action. By refraining from taking any action, after the expiration of the time prescribed by ASX Listing Rule 15.13 and the Company's Constitution, you will be deemed to have irrevocably appointed the Company as your agent:

• to sell all of your Shares at a price to be determined by when and how the Shares are sold, and without any costs being incurred by you (other than in respect of any potential tax consequences); and
• to deal with the proceeds of the sale as set out in the attached information sheet.

Page 3 of 7

For personal use only

Important information

The Company has determined that you hold a Less than Marketable Parcel, based on the Company's closing share price on the Record Date. If you have a Less than Marketable Parcel as at the Record Date, then unless you complete and return the Share Retention Form or increase your holdings so that by 5pm (Perth time) on the Closing Date, such that you are the registered holder of 1,042 shares (noting the increase must be under the same registered name and address and with the same holder number (SRN or HIN) as set out in this letter), the Company will be entitled to sell your Shares under the LMP Facility.

The Company does not make any recommendations or provide any advice to you regarding whether to buy, sell or hold your Shares, nor that this LMP Facility is the best way to sell your Shares. If you need help deciding what to do, or if you require information regarding the financial, legal or tax consequences of participating in the LMP Facility, you should consult your suitably qualified legal, financial or taxation adviser.

The market price of Shares is subject to change. Current information on the price of Minerals 260 Shares is available at the ASX website www.asx.com.auor at https://minerals260.com.au/.

The attached information sheet sets out further details of the LMP Facility, which you should read carefully before making any decision. If you require any further information, you can also contact the Company's share registry, Automic, on 1300 288 664 (within Australia), [phone] (outside Australia) between the hours of 8:30 AM to 5:00 PM (Perth time) Monday to Friday.

Yours sincerely,

Anthony Cipriano Non-Executive Chairman

Minerals 260 Limited

Page 4 of 7

For personal use only

Q&A Information Sheet

Share Sale Facility for Holders of Less than Marketable Parcels

1. What is a Less than	A Less than Marketable Parcel is a parcel of fully paid ordinary shares in
Minerals 260 with a market value of less than A$500 on the Record Date. This
Marketable Parcel?
will be any registered shareholding of less than 1,042 Shares based on the
	closing price of Shares of A$0.48 on the Record Date. The Record Date for
	the purposes of determining holders of Less than Marketable Parcels has
	been set at 5:00pm ((Perth time)) on 11 March 2022.
2. Why is Minerals 260	As outlined in the letter, by facilitating the sale of Less than Marketable
Parcels, the Company expects to reduce the administrative costs associated
doing this?
with maintaining a large number of Less than Marketable Parcels. The LMP
	Facility will also enable investors with Less than Marketable Parcels, who may
	find it difficult or expensive to dispose of those shares through normal means,
	to dispose of their shares in a cost-effective manner without having to use a
	broker or pay brokerage. Shareholders will still be responsible for any tax
	consequences arising out of the sale of their Shares under the LMP Facility.
	Based on the register of ASX shareholders of Minerals 260 as at 5.00pm (Perth
	time) on the Record Date, 5,304 of the Company's 11,250 shareholders hold
	a Less than Marketable Parcel. If all shareholders with Less than Marketable
	Parcels wish to sell their Shares under the LMP Facility, there will be a 47.15%
	reduction (approximately) in the number of Minerals 260 shareholders
	(assuming no other change to the number of shareholders), which will result
	in significant administrative savings for the Company.
3. Does Minerals 260 have	Under ASX Listing Rules 15.13 and article 2.6 and schedule	4 of	the
Company's Constitution, Minerals 260 has the right to sell	Less	than
the authority to sell my
Marketable Parcels, unless a shareholder elects to retain their Shares before
Shares?
the Closing Date.
4. Who will sell my shares	The Company intends to appoint Bell Potter Securities Limited as the broker
for Shares sold under the LMP Facility.
under the LMP Facility?
5. What is the amount I	The Shares will be sold on-market after the Closing Date at the prevailing
market price. You will receive an amount per share equal to the total proceeds
will receive from the
from all shares sold under the LMP Facility divided by total number of shares
sales of my shares?
sold under the LMP Facility, without any deduction for brokerage or handling
	costs. Accordingly, the price you will receive for each Share will be the
	average price of every share sold on the ASX under the LMP Facility. All
	holders of Less than Marketable Parcels who are participating in the LMP
	Facility will receive the same price per Share and payment for your holding
	will be the average sale price multiplied by the number of your Minerals 260
	Shares sold. As the sale price is an average, the proceeds you receive may be
	more or less than the actual price received by the broker for the sale of your
	Minerals 260 Shares. The price you receive will depend on a number of factors
	including market conditions at the time of sale and may differ from the price
	appearing in the media or quoted by the ASX on any day and may not be the
	best price on the day your shares are sold.

Page 5 of 7