Pacific Bauxite NL : Unmarketable Parcels Sale Facility

ASX ANNOUNCEMENT

8 June 2022

For personal use only

UNMARKETABLE PARCELS SALE FACILITY

Pacific Bauxite NL (ASX: PBX) (Pacific Bauxite or Company) advises that it has established an unmarketable parcel sale facility (Facility) for shareholders who hold less than A$500 worth of fully paid ordinary shares (Unmarketable Parcel) in the Company.

As at market close on 7 June 2022 (Record Date) an Unmarketable Parcel of shares in the Company is any shareholding of less than 4,166 shares, based on the closing price of $0.12 per PBX share. This represents 912,856 ordinary shares in PBX, held by 1,240 shareholders (representing approximately 1.15% of the total number of shareholders presently holding shares in the Company).

The Company is providing the Facility to enable shareholders who hold an Unmarketable Parcel to sell their shares without having to act through a broker or pay brokerage or handing fees. Pacific Bauxite will pay all costs associated with the sale and transfer of shares through the Facility (excluding any tax consequences of the sale, which will be the shareholder's responsibility).

In accordance with the Company's constitution and the ASX Listing Rules, the attached letter and share retention form (Retention Form) will be sent to all shareholders who hold an Unmarketable Parcel on the Record Date.

Shareholders who hold an Unmarketable Parcel and wish to retain their shares must opt-out of the Facility by returning their duly completed Retention Form to the Company's share registry (Computershare) in accordance with the instructions on the Retention Form, by no later than 5:00pm (AEST) on Friday, 29 July 2022 (Closing Date). Any shareholder who holds an Unmarketable Parcel and does not return a completed Retention Form by the Closing Date will have their shares sold through the Facility. The proceeds from the sale of the shares will be remitted to participating shareholders as soon as practicable following settlement of all shares sold through the Facility.

A summary of the key dates in relation to the Facility is as follows:

Event	Date
Unmarketable Parcels Record Date	7 June 2022
Unmarketable Parcels Announcement to ASX	8 June 2022
Letters sent to shareholders holding Unmarketable Parcels	16	June 2022
Closing Date for receipt of Share Retention Form	29	July 2022

Pacific Bauxite reserves the right to change any of the dates referred to in this announcement or the enclosed letter and Retention Form, or to vary, cancel or delay the Facility of the sale of shares at any time before the shares are sold, by making an announcement to ASX.

If you have any questions about the Facility, please contact the Company on 08 6166 9107.

Authorised for release by the Board of Pacific Bauxite NL.

Ends.

Registered Address: 2A / 300 Fitzgerald Street, North Perth, WA, 6006 ACN: 112 914 459

Pacific Bauxite NL - Sale of Unmarketable Parcels of Shares

16 June 2022

Dear Shareholder,

onlyPacific Bauxite NL (ASX: PBX) (Pacific Bauxite or Company) is pleased to advise that the Company has established an unmarketable parcel sale facility (Facility) for holders of parcels of fully paid ordinary shares in the Company (Shares) with a market value of less than A$500 as at the close of trading on Tuesday, 7 June 2022 (Record Date), (Unmarketable Parcel).

Based on the price of Shares on the close of trading on the Record Date of A$0.12 per share, a holding of less than 4,166 Shares constitutes an Unmarketable Parcel.

usePacific Bauxite appreciates that Unmarketable Parcels can be difficult or expensive to sell, so the Company is offering the Facility to enable shareholders who hold an Unmarketable Parcel to sell their Shares without having to act through a broker or pay brokerage or handling fees. The Company will pay all costs associated with the sale and transfer of Shares through the Facility (excluding any bank charges and tax consequences associated with shareholders receiving the proceeds, which will be the responsibility of relevant shareholders).

personalThe sale of Unmarketable Parcels through the Facility will also benefit the Company, as it is expected to significantly reduce the administrative costs associated with maintaining a large number of small

shareholdings on the Company's share register.

Pacific Bauxite has the ability to establish the Facility and facilitate the sale of Unmarketable Parcels under clause 8.2 of the Company's Constitution and ASX Listing Rule 15.13.

WHY AM I RECEIVING THIS LETTER?

Our records indicate that you held an Unmarketable Parcel of Shares based on the price of Shares of A$0.12 per share as at close of trade on the Record Date. Unless you advise the Company by 5:00pm (AEST) on Friday, 29 July 2022 (Closing Date) that you do NOT wish to sell your Shares, the Company intends to sell your Shares through the Facility in accordance with clause 8 of the Company's Constitution and rule 15.13 of the ASX Listing Rules.

To advise the Company that you do NOT wish to sell your Shares, you must complete the share retention form (Retention Form) enclosed with this letter, and return it to the Company's share registry, Computershare Limited (Computershare), in accordance with the instructions on the Retention Form, prior to the Closing Date.

ForIf, at the Closing Date, the value of your Shares has increased such that you no longer have an Unmarketable Parcel (e.g. due to an increase in the market price of Shares or the number of Shares you hold), your Shares will NOT be sold.

If you have multiple holdings of Shares which, if aggregated, would not constitute an Unmarketable Parcel, you may contact Computershare at 1300 850 505 (within Australia) or [phone] (outside Australia) to amalgamate your holdings. In these circumstances, your Shares will not be sold.

Please also note that pursuant to rule 8.9 of the Constitution and rule 15.13.5 of the ASX Listing Rules, the Company will not sell your Shares in the event that a third party announces a takeover offer for the Company.

Registered Address: 2A / 300 Fitzgerald Street, North Perth, WA, 6006

ACN: 112 914 459

In accordance with its continuous disclosure obligations, the Company may release information to the ASX which may affect your decision as to whether you wish to sell or retain your Shares. If such information is released, it will be published on the ASX website (www.asx.com.au, ASX code: PBX) and on the Company's website (https://www.pacificbauxite.com/).

onlyYou should be aware that the fact that your holding of Shares is described in this letter as an "unmarketable parcel" does not mean that you cannot sell your Shares at any time. The use of the term "unmarketable parcel" in this letter is to identify the value of Shares which are eligible for sale through the Facility.

This letter is the first and final notice to holders of an Unmarketable Parcel of Shares regarding the Facility.

WHAT DO I NEED TO DO?

useAs a holder of an Unmarketable Parcel as at the Record Date, your options are described below:

1. Sell your Unmarketable Parcel

If you WISH TO SELL your Shares through the Facility, you should TAKE NO ACTION. By refraining from taking any action, you will be deemed to have irrevocably appointed the Company as your agent to:

1. sell, or procure the sale of, all of your Shares at a price to be determined, without any costs being incurred by you; and
2. deal with the proceeds of the sale as set out in this letter (for more information about the pay- ment of the sale proceeds through Computershare, please refer to Question 9 of the enclosed Information Sheet).

personalThe Company is in the process of appointing a broker to facilitate the sale of the Unmarketable Parcels. The Shares sold under the facility will be sold at market prices, subject to prevailing market conditions

and available liquidity. You will receive a proportionate share of the total sale proceeds of all Shares sold under the Facility. Payment for your Shares will be remitted to you as soon as practicable, following settlement of the sale of all Shares sold through the Facility.

2. Retain your Unmarketable Parcel

If you DO NOT WISH TO SELL your Unmarketable Parcel, you MUST OPT-OUT of the Facility by completing and returning the enclosed Retention Form in accordance with the instructions on the Retention Form so that it is received by Computershare prior to the Closing Time. Please carefully read the instructions on the Retention Form before completing it.

For3. Update your bank account details

If you wish to sell your Shares through the Facility YOU MUST update your bank account details with Computershare so that payment of the sale proceeds to you can be effected electronically.

KEY DATES

Event	Date
Unmarketable Parcels Record Date	7 June 2022
Unmarketable Parcels Announcement to ASX	8 June 2022
Letters sent to shareholders holding Unmarketable Parcels	16	June 2022
Closing Date for receipt of Share Retention Form	29	July 2022

Registered Address: 2A / 300 Fitzgerald Street, North Perth, WA, 6006

ACN: 112 914 459

Pacific Bauxite reserves the right to change any of the dates referred to in this letter or the enclosed Information Sheet or Retention Form, or to vary, cancel or delay the Facility or the sale of your Shares at any time before your Shares are sold, by making an announcement to ASX.

onlyThe Company does not provide any recommendation or advice as to whether you should sell or retain your Shares.

Enclosed is an Information Sheet to answer questions that you may have with respect to the sale of Unmarketable Parcels. This letter is important. If you are in doubt about what to do, you should consult your legal, financial or taxation adviser.

If you have any other questions about the operation of the Facility, please contact the Company on [phone].

useKind regards,

Peter Lewis

Chairman personalFor

Registered Address: 2A / 300 Fitzgerald Street, North Perth, WA, 6006

ACN: 112 914 459

INFORMATION SHEET

UNMARKETABLE PARCEL SALE FACILITY 1. What is an Unmarketable Parcel?

onlyAn Unmarketable Parcel is a holding of fully paid ordinary shares in Pacific Bauxite NL (Shares), (Company) that is valued at less than $500. Based on the closing price of Shares on Tuesday, 7 June 2022 (Record Date) of A$0.12 per share, this is equivalent to a holding of less than 4,166 Shares.

2. Why has the Facility been established?

The Company has decided to establish an Unmarketable Parcel Sale Facility (Facility) to enable you to sell your Unmarketable Parcel without incurring brokerage or handling costs that could otherwise make a sale of your Unmarketable Parcel uneconomic or difficult. The sale of Unmarketable Parcels through

usethe Facility will also enable the Company to reduce administrative costs associated with maintaining a large number of relatively small holdings of Shares.

3. Why have I received this letter?

You have received this letter because our records indicate that you held an Unmarketable Parcel of Shares based on the price of Shares of A$0.12 per share as at close of trade on the Record Date.

personal4. What do I need to do to sell my Shares?

If you wish to sell your Shares you should TAKE NO ACTION.

Your Shares will be sold through the Facility unless a duly completed Retention Form in respect of your Shares is received by the Company's Share Registry (Computershare) before 5:00pm (AEST) on Friday, 29 July 2022 (Closing Time) in accordance with the instructions on the Retention Form. A Retention Form is enclosed with this letter.

5. What if I do not wish to sell my Unmarketable Parcel?

If you do not wish to sell your Shares, you MUST OPT-OUT of the Facility by completing and returning the enclosed Retention Form to the address provided in the Retention Form so that it is received by Computershare prior to the Closing Time. If Computershare has not received your Retention Form by the Closing Time, your Shares will be sold through the Facility. Alternatively, you can purchase more Shares on-market so that you hold at least $500 worth of Shares as at the Closing Time. See Question 12 below for further information.

6. How will my shares be sold under the Facility?

ForYour Shares will be sold by the appointed broker, on the Australian Securities Exchange (ASX) subject to prevailing market conditions and available liquidity. The Shares sold under the Facility may be sold in a single or multiple parcels, and may be sold in different parcels on different days.

7. What price will I receive for Shares sold through the Facility?

The Shares will be sold at the prevailing market price for Shares on the ASX (ASX code: PBX), as soon as practical after the Closing Time. You will receive an average price for your Shares and a proportionate share of the total sale proceeds of all Shares sold under the Facility.

You will not have control over the time or price at which your Shares are sold, and the price you receive may not reflect the price of Shares appearing in the media or quoted by the ASX on any given day, nor be the best price for Shares available on the day your Shares are sold. If, at the Closing Time, the value

Registered Address: 2A / 300 Fitzgerald Street, North Perth, WA, 6006

ACN: 112 914 459