Notice of Initial Substantial Shareholder Orion Minerals NL Incorporated in the Commonwealth of Australia Australian Company Number 098 939 274 ASX share code: ORN JSE share code: ORN ISIN: AU000000ORN1 (“Orion”) NOTICE OF INITIAL SUBSTANTIAL SHAREHOLDER Form 603 Corporations Act 2001 Section 671B To Company Name/Scheme Orion Minerals NL ACN/ARSN 098 939 274 1. Details of substantial Holder (1) Name Hargreave Hale Limited ACN/ARSN (f applicable) N/A The holder became a substantial holder on 06/11/2017 2. Details of 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 on the date the substantial holder became a substantial holder are as follows: Class of securities (4) Number of securities Person’s votes (5) Voting power (6) Ordinary NPV Shares 83 333 333 83 333 333 7.3421% 3. Details of relevant interests The nature of, a relevant interest of the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows: Holder of relevant interest Nature of relevant Class and number of securities interest (7) Hargreave Hale Limited Control of voting rights 83 333 333 Ordinary NPV shares for discretionary clients 4. Details of present registered holders The persons registered as holders of the securities referred to in paragraph 3 above are as follows: Holder of relevant Registered holder of Person entitled to be Class and number of interest securities registered as holder (8) securities Hargreave Hale Limited HSBC Custody HSBC Custody 83 333 333 Ordinary Nominees (Australia) Nominees (Australia) NPV Shares Limited Limited 5. Consideration The persons registered as holders of the securities referred to in paragraph 3 above are as follows: Holder of relevant Date of acquisition Consideration (9) Class and number of interest securities Cash Non- cash Hargreave Hale Limited 06/11/2017 $1 999 999.99 - 83 333 333 Ordinary NPV Shares 6. Associates The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows: Name and ACN/ARSN (if applicable) Nature of association N/A N/A 7. Addresses The addresses of persons named in this form are as follows: Name Address Hargreave Hale Limited Talisman House, Boardmans Way, Blackpool, FY4 5FY England Signature Print name: David Cleuit Capacity: Head of Compliance Date 17/11/2017 20 November 2017 Errol Smart Managing Director and CEO ENQUIRIES Investors JSE Sponsor Errol Smart – Managing Director & CEO Rick Irving Denis Waddell – Chairman Merchantec Capital T: +61 (0) 3 8080 7170 T: +27 (0) 11 325 6363 E: info@orionminerals.com.au E: rick@merchantec.co.za Media Michael Vaughan Barnaby Hayward Fivemark Partners, Australia Tavistock, UK T: +61 (0) 422 602 720 T: +44 (0) 207 920 3150 E: michael.vaughan@fivemark.com.au E: orion@tavistock.co.uk Suite 617, 530 Little Collins Street Melbourne, VIC, 3000 Date: 20/11/2017 08:55:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.