23 Nov

Change in substantial holding (Revised)

604 Page 1 of 3 15 July 2001 Form 604 Corporations Act 2001 Section 671B Notice of change of interests of substantial holder To Company Name/Scheme Navarre Minerals Li mited ACN/ARSN 125 140 105 1. Details of substantial holder (1) Name K irkland Lake Gold Australia Pty Ltd. (KLGA) and Kirkland Lake G old Ltd. (KL) (Related Corpo rate Bo dies) ACN/ARSN (if applicable) 136 505 587 (KLA) There was a change in the interests of the substantial holder on 19 / 11 / 2021 The previous notice was given to the company on 20 / 05 / 20 15 The previous notice was dated 20 / 05 / 20 15 2. Previous and present voting power 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 Per son’s votes Voting power (5) Person’s votes Voting power (5) Ordinary shares 18,469,272 19.95% 135,099,237 11.37% 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 change Person whose relevant interest changed Nature of change (6) Consideration giv en in relation to change (7) Class and number of securities affected Perso n's votes affected See Annexure A 4. Present relevant interests Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows: Holder of relevant interest Reg istered holder of securities Person entitled to be registered as holder (8) Nature of relevant interest (6) Class and number of securities Person's votes KLGA KLGA KLGA KLGA 47,981,303 47,981,303 KL KL KL KL 87,117,934 87,117,934 604 Page 2 of 3 15 July 2001 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 NIL 6. Addresses The addresses of persons named in this form are as follows: Name Address KLGA Level 33 101 Collins Street, Melbourne, VIC 3000 KL Royal Bank Plaza, South Tower 200 Bay Street, Suite 2800 Toronto, Ontario M5J 2J1 Canada Signature print name Wendy Yu capacity Vice President, Legal sign here date 22 / Nov / 2021 DIRECTIO NS (1) If there are a number of subs tantial 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 "asso ciate" 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 u nless 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: (a) any relevant agreement or other circumstances because of which the change in rel evant 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 (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting pow ers 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. (7) 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. (8) If th e substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an opt ion) write "unknown". 604 Page 3 of 3 15 July 2001 (9) Give details, if appropriate, of the present association and any change in that association since the l ast substantial holding notice. Annexure 1 to Form 604 3. Changes in relevant interests Date of Change Person whose relevant interest changed Nature of change (6) Consideration given in relation to change (7) Class and number of securities affected Person’s votes affected 30 - June - 2017 KLGA Allotment ex - rights $0.03 per ordinary share 3,693,855 ordinary shares 3,693,855 18 - Oct - 2017 KLGA Placement $0.03 per ordinary share 3,926,018 ordinary shares 3,926,018 20 - Aug - 2018 KLGA Placement $0.05 per ordinary share 8,740,000 ordinary shares 8,740,000 09 - Apr - 2019 KLGA Placement $0. 0 75 per ordinary share 8,819,784 ordinary shares 8,819,784 24 - Oct - 2019 KLGA Placement $0.11 per ordinary share 4,332,374 ordinary shares 4,332,374 02 - Jun - 2021 KL Placement by Navarre pursuant to a subscription agreement $0.10 per ordinary share 8,800,000 ordinary shares 8,800,000 19 - Nov - 2021 KL Placement $0.075 per ordinary share 78,317,934 ordinary shares 78,317,934
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