25 Nov

Results of Meeting

ASX ANNOUNCEMENT 2 5 November 202 1 Results of Annual General Meeting In accordance with Listing Rule 3.13.2 and Section 251AA of the Corporations Act 2001 (Cth ), the details of the resolutions and the proxies received in respect of the Annual General Meeting held today are set out in the attached report. As announced to ASX on 18 and 25 November 202 1 , the B oard resolved to withdraw the following Resolutions which were not put to shareholders at the meeting : • Resolution 2: Re - election of Mr Colin McCavana • Resolution 6 : Approval of 10% placement facility • Resolution 7: Ratification of previous issue of options under $20m placement • Resolution 8 : Issue of performance rights to Mr Colin McCavana • Resolution 9: Issue of performance rights to Mr Ming Lu • Resolution 10: Issue of performance rights to Mr Liangbing Yu • Resolution 11: issue of performance rights to Mr Bin C ai All other resolutions were decided by way of a poll and, other than Resolution 12 (Election of Mr Tao Wu), were passed. ENDS Authorised by: Belinda Pearce Company Secretary For further information: For media and broker enquiries: Mark Tory Michael Cairnduff Chief Executive Officer Director Northern Minerals Cannings Purple +61 8 9481 2344 0406 775 241 mcairnduff@canningspurple.com.au ASX ANNOUNCEMENT 2 5 November 202 1 2 About Northern Minerals: Northern Minerals Limited (ASX: NTU) (Northern Minerals or the Company) is one of a few producers of heavy rare earth element Dysprosium outside of China via production from the Browns Range Heavy Rare Earth pilot plant project in northern Western Australia. The Company commenced the production of heavy rare earth carbonate in late 2018 as part of pilot assessment of economic and technical feasibility of a larger scale development at Bro wns Range. An ore sorter was installed and commissioned during 2021 which will also be tested for its economic and technical feasibility at the front end of the pilot plant. Through the development of its flagship project, the Browns Range Project (the Pro ject), Northern Minerals aims to build the Western Australian operation into a significant world producer of dysprosium outside of China. The Project is 100% owned by Northern Minerals and has several deposits and prospects containing high value dysprosium and other HREs, hosted in xenotime mineralisation. Dysprosium is an essential ingredient in the production of DyNdFeB (dysprosium neodymium iron - boron) magnets used in clean energy, military and high technology solutions. For more information: northernminerals.com.au . ASX Code: NTU Market Capitalisation: A$ 320.7 m Issued Shares: 4, 8 59 m Cash (as at 31 Sept 2021 ) : A$1 4 . 3 m ASX ANNOUNCEMENT 2 5 November 202 1 3 Results of meeting The following information is provided in accordance with section 251AA(2) of the Corporations Act 2001 (Cth) and ASX Listing Rule 3.13.2. Resolutions voted on at the meeting Poll results Proxies received Resolution Result Voting method If s250U applies Voted for Voted against Abstained For Against Abstain Discretion No Short description Number % Number % Number Number Number Number Number 1 Adoption of Remuneration Report (Non - Binding Resolution) Passed Poll N/A 2,143,181,728 76.59 % 655,189,247 23.41 % 2,713,589 2,134,145,395 655,189,247 2,713,589 9,015,833 2 Re - election of Mr Colin McCavana Resolution withdrawn 3 Re - election of Mr Ming Lu Passed Poll No 1,972,432,245 70.17 % 838,361,100 29.83 % 288,587 1,964,228,043 838,361,100 288,587 7,183,702 4 Re - election of Mr Liangbing Yu Passed Poll No 2,746,941,569 97.73% 63,796,776 2.27% 343,587 2,738,737,367 63,796,776 343,587 7,183,702 5 Re - election of Mr Bin Cai Passed Poll No 2,737,198,757 97.39% 73,494,58 8 2.61% 388 ,587 2,729,039,555 73,494,588 388,587 7,138,702 6 Approval of 10% Placement Facility Resolution withdrawn 7 Ratification of Previous Issue of Options Under $20m Placement Resolution withdrawn 8 Issue of Performance Rights to Mr Colin McCavana Resolution withdrawn 9 Issue of Performance Rights to Mr Ming Lu Resolution withdrawn ASX ANNOUNCEMENT 2 5 November 202 1 4 Resolutions voted on at the meeting Poll results Proxies received Resolution Result Voting method If s250U applies Voted for Voted against Abstained For Against Abstain Discretion No Short description Number % Number % Number Number Number Number Number 10 Issue of Performance Rights to Mr Liangbing Yu Resolution withdrawn 11 Issue of Performance Rights to Mr Bin Cai Resolution withdrawn 12 Election of Mr Tao Wu Not passed Poll No 824,101,786 29.66% 1,954,819,592 70.34% 32,160,554 815,756,140 1,953,819,592 32,160,554 8,325,146 * Note: votes relating to a person who abstains on an item are not counted in determining whether or not the required majority of votes were cast for or against that item.
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