GreenX Metals : Constitution

Level 27, Exchange Tower

2 The Esplanade

Perth WA 6000 Australia

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GreenX Metals Limited

ACN 008 677 852

Constitution

______________________

Ian Middlemas Chairman

16 November 2022

		Table of contents
1	Preliminary................................................................................................................	1
	1.1	Definitions and interpretation ..........................................................................................	1
	1.2	Nature of the Company...................................................................................................	1
	1.3	Replaceable rules ...........................................................................................................	1
	1.4	Transitional provisions ....................................................................................................	1
2	Shares .......................................................................................................................	1
	2.1	Issue of Shares and options ...........................................................................................	1
	2.2	Preference Shares ..........................................................................................................	2
	2.3	Variation of classes and class rights ..............................................................................	2
	2.4	Converting Shares ..........................................................................................................	2
	2.5	Reductions of capital and buy backs ..............................................................................	2
	2.6	Ancillary powers regarding distributions .........................................................................	3
	2.7	Unmarketable parcels of Shares ....................................................................................	3
	2.8	Registered holder is absolute owner ..............................................................................	3
	2.9	Holding statements and certificates................................................................................	4
3	Restricted Securities................................................................................................	4
4	Calls, Company Payments, Forfeiture and Liens ...................................................	4
5	Transfer of Shares....................................................................................................	5
	5.1	Electronic transfer systems.............................................................................................	5
	5.2	Forms of transfer ............................................................................................................	5
	5.3	Instrument of transfer......................................................................................................	5
	5.4	Transferor is holder until transfer registered...................................................................	5
	5.5	Refusal to register transfers ...........................................................................................	5
	5.6	No registration fee ..........................................................................................................	6
	5.7	Transmission of Shares ..................................................................................................	6
6	Proceeding of Members ...........................................................................................	6
	6.1	Who can call meetings of Members ...............................................................................	6
	6.2	Annual general meeting..................................................................................................	6
	6.3	How to call meetings of Members ..................................................................................	6
	6.4	Right to attend meetings of Members.............................................................................	7
	6.5	Meeting of Members at more than one place .................................................................	8
	6.6	Meeting of Members by virtual meeting..........................................................................	8
	6.7	Quorum ...........................................................................................................................	8
	6.8	Chairperson ....................................................................................................................	9
	6.9	General conduct of meetings..........................................................................................	9
	6.10	Resolutions of Members ..............................................................................................	10
	6.11	Direct Voting ................................................................................................................	10
	6.12	Polls .............................................................................................................................	11
	6.13	Adjourned, cancelled and postponed meetings ..........................................................	11
	6.14	Number of votes ..........................................................................................................	12
	6.15	Objections to qualification to vote ................................................................................	13
	6.16	Proxies, attorneys and representatives .......................................................................	14
7	Directors .................................................................................................................	16
	7.1	Number of Directors.....................................................................................................	16
	7.2	Appointment of Directors .............................................................................................	16
	7.3	Retirement of Directors and vacation of office ............................................................	16
	7.4	Alternate Directors .......................................................................................................	17
	7.5	Remuneration of Directors...........................................................................................	18
	7.6	Interests of Directors....................................................................................................	19
8	Officers....................................................................................................................	20
	8.1	Managing director ........................................................................................................	20
	8.2	Secretary .....................................................................................................................	21
	8.3	Indemnity and insurance..............................................................................................	21

GreenX Metals Limited

			Page ii
9	Powers of the Company and Directors .................................................................	21
	9.1	General powers ...........................................................................................................	21
	9.2	Execution of documents ..............................................................................................	22
	9.3	Committees and delegates ..........................................................................................	22
	9.4	Attorney or agent .........................................................................................................	22
10	Proceedings of Directors .......................................................................................	23
	10.1	Written resolutions of Directors ...................................................................................	23
	10.2	Meetings of Directors ...................................................................................................	23
	10.3	Who can call meetings of Directors .............................................................................	23
	10.4	How to call meetings of Directors ................................................................................	23
	10.5	Quorum ........................................................................................................................	24
	10.6	Chairperson .................................................................................................................	24
	10.7	Resolutions of Directors...............................................................................................	25
11	Dividends and Profits.............................................................................................	25
	11.1	Who may determine Dividends....................................................................................	25
	11.2	Dividends for different classes.....................................................................................	26
	11.3	Dividends proportional to paid up capital.....................................................................	26
	11.4	Effect of a transfer on Dividends .................................................................................	26
	11.5	No interest on Dividends..............................................................................................	26
	11.6	Unpaid amounts...........................................................................................................	27
	11.7	Capitalisation of profits ................................................................................................	27
	11.8	Distributions of assets..................................................................................................	27
	11.9	Dividend plans .............................................................................................................	27
12	Notices and Payments ...........................................................................................	28
	12.1	Notice to Members.......................................................................................................	28
	12.2	Notice to Directors .......................................................................................................	28
	12.3	Notice to the Company ................................................................................................	29
	12.4	Time of service ............................................................................................................	29
	12.5	Signatures....................................................................................................................	29
	12.6	Payments .....................................................................................................................	29
13	Winding up..............................................................................................................	30
	13.1	Distributions proportional to paid up capital.................................................................	30
	13.2	Distributions of assets..................................................................................................	30
Schedule 1	..........................................................................................................................	31
	Definitions and Interpretation....................................................................................................	31
Schedule 2	..........................................................................................................................	35
	Calls, Company payments, Forfeiture and Liens .....................................................................	35
Schedule 3	..........................................................................................................................	41
	Transmission ............................................................................................................................	41
Schedule 4	..........................................................................................................................	42
	Unmarketable Parcels ..............................................................................................................	42
Schedule 5	..........................................................................................................................	45
	Proportional Takeover Bid Approval.........................................................................................	45
Schedule 6	..........................................................................................................................	46
	Preference Shares....................................................................................................................	46

GreenX Metals Limited

This Constitution is made on

by	GreenX Metals Limited ACN 008 677 852 (Company)

It is agreed:

1 Preliminary

1. Definitions and interpretation
   Schedule 1 applies and forms part of this constitution.
2. Nature of the Company
   The Company is a public company limited by shares.
3. Replaceable rules
   The replaceable rules in the Corporations Act do not apply to the Company.
4. Transitional provisions
   This constitution has the effect that:
5. 1. every Director, Alternate Director, senior manager and Secretary in office as at the Adoption Date continues in office subject to, and is taken to have been appointed or elected under, this constitution;
   2. any register maintained by the Company immediately before the Adoption Date is taken to be a register maintained under this constitution;
   3. any common seal adopted by the Company before the Adoption Date is taken to be the common seal until another common seal is adopted by the Company under this constitution;
   4. for the purposes of article 12.6(a)(ii), a cheque issued under a corresponding provision of the Previous Constitution is taken to have been issued under article 12.6(a)(ii); and
   5. unless a contrary intention appears in this constitution, all persons, things, agreements and circumstances appointed, approved, created or delegated by or under the Previous Constitution continue to have the same status, operation and effect as if they had occurred under this constitution on and after the Adoption Date.

2 Shares

2.1 Issue of Shares and options

1. Subject to any rights and restrictions attached to a class of Shares, the Company may:
2. 1. allot and issue unissued Shares; and
   2. grant options over unissued Shares,

on any terms, at any time and for any consideration, as the Directors resolve.

1. The powers of the Company under article 2.1 may only be exercised by the Directors.

GreenX Metals Limited

Page 2

2.2 Preference Shares

1. The Company may issue any Shares as preference Shares including:
2. 1. preference Shares which are liable to be redeemed in a manner permitted by the Corporations Act; and
   2. preference Shares in accordance with the terms of Schedule 6,

provided that such preference Shares are convertible into ordinary Shares in accordance with their terms.

1. Holders of preference Shares have the same rights as holders of ordinary Shares in relation to receiving Notices, reports and audited accounts, and attending meetings of Members.
2. A holder of a preference Share only has the right to vote:
3. 1. during a period during which a Dividend (or part of a Dividend) in respect of the Share is in arrears;
   2. on a proposal to reduce the share capital of the Company;
   3. on a resolution to approve the terms of a buy back agreement;
   4. on a proposal that affects rights attached to the Share;
   5. on a proposal to wind up the Company;
   6. on a proposal for the disposal of the whole of the property, business and undertaking of the Company; and
   7. during the winding up of the Company.

2.3 Variation of classes and class rights

1. Subject to the terms of issue of Shares in a particular class, the Company may:
2. 1. vary or cancel rights attached to Shares in that class; or
   2. convert Shares from one class to another,

by a special resolution of the Company and:

1. 1. 1. a special resolution passed at a meeting of the Members holding Shares in that class; or
      2. the written consent of Members who are entitled to at least 75 per cent of the votes that may be cast in respect of Shares in that class.
   2. The provisions in this constitution concerning meetings of Members (with the necessary changes) apply to a meeting held under article 2.3(a)(iii).
2. Converting Shares
   The Company may by ordinary resolution passed at a meeting of Members convert all or any of its Shares into a larger or smaller number of Shares.
3. Reductions of capital and buy backs
4. 1. Subject to the Corporations Act and the Listing Rules, the Company may:
   2. 1. reduce its share capital; and
      2. buy back Shares in itself,

GreenX Metals Limited