Constitution

Syrah Resources Limited ACN 125 242 284

A public company limited by shares

Contents Page

Dictionary

1. Share capital 1

2. Shares 1

3. Certificates and holding statements 1

4. Preference shares 2

5. Joint holders of shares 4

6. Equitable interests in shares 4

7. Restricted securities 4

8. Non-marketable parcels 5

9. Variation of Class Rights 5

3	Calls,	forfeiture, indemnities, lien and surrender	6
3.1	Calls	6
3.2	Proceedings for recovery of calls	7
3.3	Payments in advance of calls	7
3.4	Forfeiture of partly paid shares	8
3.5	Indemnity for payments by the Company	9
3.6	Lien on shares	10
3.7	Surrender of shares	1 1
3.8	General provisions applicable to a Disposal of shares under this constitution	11
3.9	Interest payable by member	12

1. Transfer and transmission of shares 12

2. Transfer of shares 12

3. Power to decline registration of transfers 13

4. Transmission of shares 14

5. Power to suspend registration of transfers 15

6. General meetings 15

7. Calling of general meetings 15

8. Notice of general meetings 16

9. Admission to general meetings 17

10. Quorum at general meetings 18

11. Chair of general meetings 19

12. Conduct of general meetings 19

13. Decisions at general meetings 20

14. Direct voting 21

15. Voting rights 21

16. Representation at general meetings 23

17. Directors 25

18. Appointment and removal of directors 25

19. Vacation of office 27

20. Remuneration of directors 27

21. Share qualification 29

22. Interested directors 29

23. Powers and duties of directors 31

24. Proceedings of directors 31

25. Calling of meetings of directors 32

26. Notice of meetings of directors 32

27. Quorum at meetings of directors 33

28. Chair and deputy chair of directors 33

29. Decisions of directors 34

30. Written resolutions 34

31. Alternate directors 35

32. 5 Committees of directors 36

33. Delegation to individual directors 36

34. Validity of acts 37

35. Executive officers 37

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7.1	Managing directors and executive directors	37
7.2	Secretaries	37
7.3	Provisions applicable to all executive officers	37
8	Seals	38
8.1	Adoption of common seal	38
8.2	Use of Seal	38
8.3	Duplicate seal	39
8.4	Share seal or certificate seal	39
8.5	Sealing and signing of certificates	39

1. Dividends and reserves 39

2. Dividends 39

3. Capitalisation of profits 42

4. Ancillary powers 42

5. Reserves 43

6. Dividend reinvestment plans 43

7. Dividend selection plans 44

8. Capital reductions 44

9. Shares in another body corporate 44

1. Winding up 44

2. Distribution of surplus 44

3. Division of property 45

4. Minutes and records 46

   11.1	Minutes	46
   11.2	Proxies	46
   11.3	Polls	46
   11.4	Signing of minutes	46
   11.5	Minutes as evidence	46
   11.6	Inspection of records	46

5. Indemnity and insurance 47

6. Persons to whom rules 12.2 (Indemnity) and 12.4

   (Insurance) apply 47

7. Indemnity 47

8. Extent of Indemnity 47

9. Insurance 47

10. Savings 47

11. Notices 48

12. Notices by the Company to members 48

13. Notices by the Company to directors 49

14. Notices by members or directors to the Company 49

15. Notices to members outside Australia 49

16. Time of service 49

17. Other communications and documents 50

18. Notices in writing 50

19. Proportional Takeover Bids 50

20. Definitions 50

21. Transfers not to be registered 51

22. Resolution 51

23. Sunset 51

24. General 52

15.1	Currency	52
15.2	Submission to jurisdiction	52
15.3	Prohibition and enforceability	52
15.4	Transitional provisions	52
Schedule 1	- Dictionary	54