Arrium Shareholder Group Proceeding (Class Action)

Group proceeding (class action) brought on behalf of persons who acquired shares in Arrium Corporation Limited (Arrium) during the period between 19 August 2014 and 4 April 2016.

The claim alleges that the defendants (being four former directors of Arrium and its auditor, KPMG) made misleading or deceptive statements in Arrium’s published financial results, as to the compliance of the financial statements with Australian Accounting Standards and as to those financial statements presenting a true and fair view of Arrium’s financial position, and further that the statements failed to disclose material impairments of Arrium’s assets. It is alleged that the wrongful conduct of the defendants resulted in Arrium’s shares trading at an inflated price on the Australian Securities Exchange, and that a capital raising took place in September 2014 at an inflated price.

The plaintiff sought a Group Costs Order in this proceeding, by which it would be paid 40% of any award or settlement obtained as complete payment for its legal costs, and which was granted by the Honourable Justice Dixon on 26 April 2022.

IMPORTANT INFORMATION ABOUT REGISTRATION AND OPTING OUT

If you are, or you think that you may be a group member, you should read the documents below carefully. The Notice (a copy of which is below) contains important information about your rights to:

(1) register your claim in the proceeding
(2) opt out of the proceeding; or
(3) do nothing.

In summary, if you fall within the definition of a group member, you have three options:

OPTION 1 - REGISTER

In order to be eligible to receive any compensation if there is a settlement reached at the Court Ordered Mediation or at any time up to 4 May 2026, you must register for the class action by 4:00pm AEDT on 15 December 2025. To participate in any such settlement, you must register your interest before the deadline.

To register, you must either:

• complete the online registration process available at: arrium.bantongroup.com; or
• complete the Group Member Registration Form at Annexure A and send it with your supporting documents to the Plaintiffs’ solicitors, Banton Group, by email to neevhz@onagbatebhc.pbzmoc.puorgnotnab@muirra or by post to:

Banton Group
Level 12, 60 Martin Place,
Sydney NSW 2000

OPTION 2 – OPT OUT

If you do not want your rights determined by the class action, for example if you wish to bring your own proceeding independently, you must opt out of the class action by 4:00pm AEDT on 15 December 2025. If you opt out, your claim will not be resolved as part of the Arrium Class Action but you may pursue such rights as you may have independently.

To opt out, you must either:

• submit the required information in the Online Opt Out Notice; or
• complete the Opt Out Form found at Annexure B of the Notice and return a completed copy directly to the Registry of the Supreme Court of Victoria via email or post to the addresses on the notice.

OPTION 3 - DO NOTHING

You may do nothing and remain a group member in the class action but, subject to further order of the Court, you will not be permitted to participate in any settlement reached at the Court Ordered Mediation or at any time up to 20 July 2026 of the conclusion of the Court Ordered Mediation. For further information about this option please refer to Option 3 of the Notice below.

The definition of a "group member" is set out in the Notice.

Notice to Group Members
Order of the Honourable Justice Matthews made 7 August 2025