Rule 54 of the Takeovers Code – Acquisition Notice

21 February 2017 Chatham Rock Phosphate Limited Level 1, 93 Terrace Wellington, 6011 New Zealand By email: chris@widespread.co.nz Notice pursuant to Rule 54 of the Takeovers Code - Acquisition Notice Antipodes Gold Limited (AXG) made a full takeover offer dated 23 December 2016 (Offer) for all of the equity securities in Chatham Rock Phosphate Limited (CRP). On 20 February 2017, AXG gave notice pursuant to Rule 51 of the Takeovers Code that it had become the dominant owner of CRP by virtue of becoming the holder or controller of 90% or more of the voting rights in CRP. AXG has today sent an "acquisition notice" as defined in the Takeovers Code to all outstanding shareholders in CRP requiring them to sell all of their shares in CRP to AXG. In accordance with Rule 54 of the Takeovers Code, a copy of the acquisition notice, together with the accompanying cover letter which was sent to all outstanding CRP shareholders, is attached to this letter. Yours sincerely Peter Liddle Chief Financial Officer Antipodes Gold Limited End CA:00297124 For:AXG Type:TAKEOVER Time:2017-02-21 12:48:41