Kangaroo Resources : Implementation of Scheme of Arrangement

Kangaroo Resources Limited

ABN: 38 120 284 040

ASX Code: KRL

11 December 2018

ASX RELEASE

IMPLEMENTATION OF SCHEME OF ARRANGEMENT

Kangaroo Resources Limited (ASX: KRL) (Kangaroo) confirms that the scheme of arrangement as approved by the Supreme Court of Western Australia on 3 December 2018 (Scheme) in relation to the acquisition by PT Bayan Resources, Tbk (Bayan) of all of the Kangaroo shares it does not already own has been implemented today. Accordingly, Bayan now holds all of the shares on issue in Kangaroo.

Scheme Consideration

Kangaroo shareholders have today been paid the scheme consideration of A$0.15 (Scheme Consideration) for each Kangaroo share held at 7pm (AEDT) on the Record Date, 6 December 2018.

Delisting from ASX

Kangaroo will today apply to the ASX for the termination of the official quotation of the company's shares on the ASX and to have Kangaroo removed from the official list of the ASX, which is expected to occur tomorrow, 12 December 2018.

For further information please contact:

Paul Jurman, Company Secretary

Tel +61 (8) 9381 4320 Fax +61 (8) 9380 6761 Email -info@kangarooresources.com

Level 2, Suite 9, 389 Oxford Street, Mount Hawthorn, Western Australia 6016

|  +61 8 9381 4320|  +61 8 9380 6761

www.kangarooresources.com