604 Page 1 of 2 15 July 2001

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme

CATALYST METALS LIMITED

ACN/ARSN

118 912 495

1. Details of substantial holder (1)

Name

ACN/ARSN (if applicable)

ST BARBARA LIMITED 009 165 066

There was a change in the interests of the

substantial holder on

07/12/2017

The previous notice was given to the company on

01/08/2017

The previous notice was dated

01/08/2017

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

Person's votes

Voting power (5)

Person's votes

Voting power (5)

ORDINARY SHARES

4,420,833

7.2%

10,831,089

16.0%

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 given in relation to change (7)

Class and number of securities affected

Person's votes affected

07/12/2017

ST BARBARA LIMITED

Share placement

$4,999,999.68

6,410,256 ORDINARY SHARES

6,410,256

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

Registered holder of securities

Person entitled to be registered as holder (8)

Nature of relevant interest (6)

Class and number of securities

Person's votes

ST BARBARA LIMITED

ST BARBARA LIMITED

ST BARBARA LIMITED

Registered Holder, refer Annexure A

10,831,089 ORDINARY SHARES

10,831,089

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