Notice of change of interests of substantial holderNotice of change of interests of substantial holder There was a change in the interests oilhe substantial holder on The previous

To Company Name/Scheme

ACN/ARSN

I. Details of substantial holder(,)Name

ACMARSN Of applicable)

Notice of change of interests of substantial holder

There was a change in the interests oilhe

substantial holder on

The previous nolice was given to the company onThe previous nolice was dated

ATC Alloys Ltd

Form 604Corporations Act 2001

Section 671B

118 738 999

2. Previousand presentvoting power

The Iotal number of votes attached to allthevoting shares in the company orvoting in leiests in the scheme that Ihe substantial holder or an associate (2) had arelevantinterest (3) in when last required, and when now required, to give a substantial holding notice to the company orscheme, are as 10/10ws:

A1monty Industries Inc. (A1monty) and its subsidiaries lisled in Annexure A (Ninonty Parties)SeeAnnexureA

604

26/07/2016 and28/07/2016

Class o1 securities (4)

3. Changes in relevantinteresis

Particulars of each change in, or change in the nature o1, a relevantinterest of the substantial holder or an associate in voting securities of the company orscheme, since the substantial holder was lustrequired to give asubstantial holding notice to the company or scheme are as follows:

03/06/2016

Ordinary shares

02/06/2016

a e1/2 15Ju1 2001

Previous notice

Person's votes

21,182,992

Date of

change

Person whoserelevant interest

changed

26/07/2016

19.9% (based on106,568,444 ordinary shareson issue allhe lime o1the

previous notice)

Voting power(5)

A1monty

Nature of

change (6)

Ceased to hold arelevant interest in

21,182,992 ordinaryshares PUTSuanltosection SOBU)(o1 o1the Corporations Actunder the

agreements thesubject of Aimonly'sprevious notice dated02/06/2016

26/07/20,6

Present notice

Person's votes

21,751,011

Considerallon

given in relationto change (7)

Aimonty

28/07/2016

Taken 10 hdd arelevant interest

pursuantto section6080)(c) o11heCorporations Act byreason of Ihe

agreements attachedin Annexure B

Voting power(5)

19.3% (based on112,676,372ordinary shares onissue)

Nil

Class andnumber ofsecuritiesaffected

A1monty

Taken to hold arelevant interesipursuant to section608(I)(c) oilheCorporations Act byreason o11he

agreement attachedin Annexure C.

21,182,992 ordinaryshares

$7

Person's votesaffected

21,182,992

$1

19,235,402 ordinaryshares 19,235,402

2,515,609 ordinaryshares 2,515,609

4. Presentrelevantinteresls

Particulars of each relevant interest o11he substantial holder in voting securities after the change are as follows:

Holder ofrelevantinterest

Registeredholder ofsecurities

G MP Securities

Australia Fty Limited<Somers and

Partners FlyLimited>

SG Hiscock &

Company asnvestment Manager

for SGH EmergingCompanies Fund andSGH Tiger Trust

Person entitled

to be registeredas holder (8)

A1monty

GMP SecuritiesAustralia PlyLimited <Somers

and Partners PlyLimited>

Chiney Portfolios PlyLimited

Nature ofrelevant

interest (6)

SG Hiscock &

Companyasnvestment Manager

10rSGH EmergingCompanies Fund andSGH Tiger Trust

Little Nell

nvestments Ply LtdRowan Hall Pty Ltd<Rowan HallnvestmentNC>

Mr Mark Steven

Hepburn and MrsJaneAmanda

Hepburn <The

Hepburn SIFNC>

Chiney PontoliosPly Limited

Ume Nell

nveslmenls Ply Ltd

Class andnumber ofsecurities

A1mDnty

Rowan Hall Pty LtdHall<Rowan

nvestment NG>

New ConsuUingServices Pty Ltd

5. Changes massocialion

The persons hitio have become associates (2) of. ceased to be associates of. or have changed the nature of their association (9) with, the substantial holder inrelation to voting interesls in the company or scheme are as follows:

Taken 10 hold a relevant

interest pursuant 10 section60811)(o1 of theCorporations Act by reasonof the agreements attachedin Annexure B


Mr Mark Sieven

Hepburn and MrsJaneAmanda

Hepburn <The

Hepburn SIF NG>

Correze Ply Ltd

Person's votes

New ConsultingServices Pty Ltd


7,671,896

6. Addresses

The addresses of persons named in this form are as follows:


Correze Ply Ltd

Name and

applicable)Not applicable

500,000 ordinaryshares

6,652,226


Taken to hold a relevant

interesl pursuantto section608(I)(c) of theCorporations AClby reasonof the agreement attachedin Annexure C.

ACNIARSN

3,402,077


Signature

Name

500,000

A1montyA1monty Parties

(if


474,016

Not applicable.

Nature of association

489,354


45,833

printname DennisLogan

100 King StreetWest, Suite 5700. Toronto, Ontario, Canada, M5X IC7

Address

2,515,609

Refer to Annexure A

sign here<7,.,. it, . -.

capacity

date

Director & CFO

28/07/2016

(1)

DIRECTIONS

" there are a number o1 substantial holders wiih similar or related relevanlinterests (eg. a corporation and its related corporations, or the manager andtrustee of an equity trust). the names could be in duded in an annexure to the form. Ifthe relevant interests of a group of persons are essentially similar,they may be referred to throughoutlhe form as a specifically named group ifthe membership of each group, with the names and addresses of membersis clearly set outin paragraph 6 of the form.

See the definition of "associate" in section 9 of the Corporations Act 2001

See the definition of"relevant in Ierest"in sections 608 and 671B(7) o11he Corporations Act 2001.

The voting shares of a company constitute one class unless divided into separate classes.

The person's votes dMded by the total votes in the body corporate or scheme inuliiplied by 100

(2)

(3)

(4)

(5)

(6) In dude details of:

(a) any relevant agreement or other circumstances because of which the change in relevantinterest occurred. " subsection 671B(4) applies, a copyof any document setting outthe terms of any relevant agreement, and a statement by the person giving full and accurate dejails o1 any contract,scheme or arrangement, must accompany this form, together with awntten statement certifying this contract, scheme or arrangement: and

(b) any qualilicalion oilhe power o1a person to exercise, controlthe exercise of, orinlluence the exercise of, the voting powers or disposal o11hesecurities to which the relevant interest relates (indicating clearly the particular securities to which Ihe qualification applies).

See the definition of"relevant agreement"in section 9 of the Corporations Act 2001.

Details of Ihe consideration must include any and all benefits, money and other. that any person from whom a relevantinlerest was acquired has, or may,become entitled to receive in relalion 10 Ihal acquisition. Details must be included even ifthe benefitis conditional on the happening or riot of acon!ingency. Details must be included on any benefit paid on behalf of the substantial holder or IIS associate in relation 10 Ihe acquisitions, even iftheyare not paid directly to the person from whom the relevantinterestwas acquired.

" the substantial holder is unable to determine the identity of the person (eg. if Ihe relevant interest arises because of an option I write "unkriovm".

Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice

(7)

(8)

(9)

.

Annexure Ato Form 604 - Notice of change of interests of substantial holderATC Alloys Ltd ACN 118 738 999

This is Annexure A of I page referred to in the Form 604 signed by me on the date noted below.

,,/<..-.~-?D"I, t"

Print name: Dennis Logan

Capacity: Director & CFO

Date: 28 July 2016

Name of substantial holder

BelallVentures Inc

Woutfe Mining Corp

7887523 Canada Inc.

WolframCam Minin PI Limited

Tro icalMelals Pt Ltd

Beelt Tin and Wolfram Portugal SA

Em resas Mineiia da Ar jinela LDA

A1mont Korea Tun sten Cor oralion

ACN

Woulfe Gold (BVl) Ltd

Onenl Gold (BVl) Ltd

Address

Muguk Gold Corp

108 254 315

850 Hastin s SIW Suite 306 Vancouver British Columbia Canada V6C IEl

Yeongwha Mining Corp.

061 766 265

Suite 408-837 West Hastings Street, Vancouver, British Columbia, CanadaV6C 3N6

Woulfe Processing LLC

100 Kiri StreetWest Suite 5700 Toronto Ontario Canada M5X IC7

Lotlt Wolfram Road, Dimbulah. Queensland 4872

Da alResources S ain S. L

40 Balmerino Drive, Canna, Queensland 4152

Valtreixal Resources Spain SL.

A1deia de S Francisco de Assis, Barroca Grande Village, Castelo BlancoDistrict Covilha Centro Re ion Portu a16225-051

Banoca Grande, 6225-051

100 Kin StreetWest Suite 5700 Toronto Ontario Canada M5X IC7

Suite 408-837 West Hastings Street, Vancouver, British Columbia, CanadaV6C3N6

Suite 408-837 West Haslings Street, Vancouver, British Columbia, CanadaV6C3N6

Suite 408-837 West Haslings Street, Vancouver, British Columbia, CanadaV6C3N6

Suite 408-837 West Haslings Street, Vancouver, British Columbia, CanadaV6C 3N6

Suite 408-837 West Hastings Street, Vancouver, British Columbia, CanadaV6C 3N6

Garretera de Fuenlerroble Variante Los Saritos Salamanca 37768 S ain

Calle Jose Onega Y Gusset 22, Madrid, Madrid, 28006 Spain

Annexure B to Form 604- Pre-Bid Acceptance AgreementsATC Alloys Ltd ACN 118 738 999

This is Annexure B of 26 pages referred to in the Form 604 signed by me on the date rioted below.

All of the seven Pre-Bid Acceptance Agreements are in the same form as the attached, except for party detailsand number of securities.

-^-~

Signature



Date: 28 July 2016

*'UDennis I

5

CHIFLEY PORTFOLIOS PTY LIMITED and

AIMONTY INDUSTRIESINC

UNCORFORATED IN CANADA AND LISTED ON THETSX-VUNDER CODE All)coldderj

PRE-BIDACCEPTANCE DEED

*

THIS DEED is mode on the 26 doy of July 2016

BETWEEN

CHIFLEY FORTFOUOS PTY LIMITED (ABN 001 303 9391 of LEVEL 7,151 MACQUARIE STREET, SYDNEYNSW 2000 Ithe ShareholderI;

AND

AIMONTY INDUSTRIES INC 11ncorporofed in Conodo Grid listed on the TSX-V under code NII of100 King Street West, Suite 5700Toronlo, ON MsX IC7 Conodo IAImonly orthe BidderI.

RECITALS

Althe dote offhis deed, the Shoreholderisfhe owner offhe Acceptonce Shores.

The Bidder intends to put o proposal to the boord of the Coinpony subsfonfiolly onthe terms Gifoched of Schedule 2.

The Shoreholderunderlokesto:

o. riot dispose offhe Acceptonce Shores otherIhoninoccordoncewiththls deed;ond

b. occepfthe TokeoverOfferwifh respectfo the AcceptonceShores,

on the terms Grid conditionssef outin this deed.

This deed supersedes ony previous deeds between fhe ponies in relofion to theAcceptonce Shores, including withouf!jinifofion the deed executed by the ponies onororound 30 Mqy 2016 is hereby terminaled with jinmediofe effect OS off he dote ofthis deed.

THE PARTIES AGREEAS FOLLOWS:

A,

B.

c.

D.

I.

1.1

INTERPRETATION

Definitions

The following definifions OPPly in this deed.

ACceplonce Shores meons3402077Shores held by the Shoreho!der offhe dote offhisdeed.

ACceplunce Time meons 5:00 pin on the dote which 15three Business Doys offer thecommencement of the Offer Period.

Agreed Bid Terms meonsthe termssef outin Schedule 2.

Assoclule includes:

in respect off he Bidder, ony person who is o wholly-owned subsidiory of the(0)Bidder; Grid

in ony other cose, ony person who is on bssociofe" under section 12 of theCorporations Act,

AsX mednsfhe AUStrolion Securities EXchange operoled by AsX Limited IABN 98 008624 6911

Ib)

PreBb keep!once Deed IAICj_26July 20/6

.

Bidlmplemenfulion Agreement meonsthe binding Heods of Agreement between theCoinpony Grid the Bidder doled on ororound 26 July 2016,

Business Doy meons o doy on which:

bonks ore open for generol bonking business in Perlh, Western AUStrolio,101excluding Sotordoys Grid Sundoys; Grid

Ib) AsXisopenforfrodinginsecurities,

Company medns ATC Alloys Dinned IACN 1/8 738999j.

Converlible Securities meons OS defined in CIOuse 41c).

CorporalIonsAcl me onsthe Congorofions Act200i(Cfhl.

Duly medns ony Ironsfer, Ironsocfion erregisfrofbn duty orsimilorchorge imposed byony Government Authority grid includes ony interest, fine, penalty, chorge or otherQinounlimposed in respect of ony off hem.

Encumbronce meone:

(0)

(b)

o RPS Security interest:

IC)

ony other morigoge, pledge, lien orchorge:

on eosemenf, resinctive covenont, coveof orsimilorrestriction over properly;Grid

Idi ony other interest or orrongement of ony kind Ihofin subsfonce secures thepoymenf of money orthe performonce of on obligation, or Ihof gives ocreditor priority over unsecured creditors in relofion to ony property.

End Dole meonsthe dote fhofisfwo months offer the dote that the Bidder makes the

public Grinouncementreferred 10 in CIOuse 2.1.

Government Authority meons o government or government deportment, ogovernmento1 orsemi-governmento1 orjudiciol person Iwhefher outonomous or nonchorged with the odininistrotion of ony OPPlicoble low,

Offer Period meonsthe period offline during which offers under the Takeover Offerreinoin open foroccepfonce.

FFS Securlly Interest meons o security interest Ihoiis subject to the Personol ProperlySecuriffes Act 2009 10h).

Relevnnllnleresfhosfhe meoning given by section 9 offhe Corporotions Act.

Righls meons o11 0ccretions, rights or benefits of whatever kind offaching to or onsingfrom the Shores including, withoutlimifofion, o11 dividends or other distributions Grid o11rightsfo receive Grid dividends or other distributions.

Shore meons o fully poid ordinory shore in the Coinpony.

Superior Proposol hos the meoning given to that term in the Bid ImplementononAgreement.

TokeoverOffer means on offer by the Bidder oroneofifs Associates under of okeoverbid pursuonfio Chopfer 6 offhe Corporations Adjo ocquire o111he Shores on termsno lessfovouroble to the holders of Shoresfhon the Agreed Bid Terms.

Freeid Acceptonce Deed IATCj_26 July 2016 2

1.2 Interpretolion

In this Deed unless fhe context nthemise requires:

(0) heodings ore for convenience only Grid do riot offeditsinferprefofion;

Ib) on obligation orliobimyossumed by, oro right conferred on, 20r more Poniesbinds or benefits o11 offhem jointly Grid eoch off hem severo11y;

the expression person includes on individual, the esfofe of on individuol, ocorporotbn, on outhority, on OSsociotion or joint venture (whetherincorporofed or unincorporotedj, o portnership Grid o trust:

Idi o reference to ony porty includes Ihof pony's executors, odinin;sfrotors,successors Grid permitted OSsigns, including ony person joking by woy ofnovofion:

o reference to ony document Uricluding this Deed is to fhof document OSvoned, novofed, rollfied orreploced from time to lime;

o reference to onysfofufe orb onysfofuforyprovision includes onysfofuforyinodificofion or re-enoclment of it or any slotufory provision substituted for if,Grid o11 ordinonces, by-lows, regu!onons, rules ond statutory instrumentsIhoweverdesctibedlissued under it

words importing the singulorinclude fhe plural(Grid vice versa) Grid wordsindicofing o gender include every other gender;

reference to ponies, CIOuses, schedules, exhibits cronnexures ore references10 ponies, CIOuses, schedules, exhibits Grid Grinexures to or off his Deed Grido reference to this Deed includes ony schedule, exhibit or Grinexure to thisDeed;

where oword orphrose is given odefinedmeoning, onyofherporlofspeechor groinmoficolform offhot word or phrose hos o corresponding me oning;

o referencefofime is to Western SkindordTime o50bservedin Perth, WesternAUStrolio;

where on oction is required to be underjoken on o doy Ihofis riot o BusinessDoy it shol! be undertoken on the next Business Doy:

o reference to a paymenfisfo o poyment by bonk cheque orsuch otherform of cleored funds the recipient of heMise o110ws in Ihe relevont lowfulcurrency specified; Grid

tin) o reference to $ ordollarisfo the lowful currency offhe Commonwealth ofAUStrolio.

Forties rid o350clofes

Despite onylhing in this deed, the pontes ore notfo be regorded OS on o550ciofe ofeoch other.

ICi

tel

Ifl

(9)

(hj

Iii

(1)

Ikj

II I

1.3

Pre Bld ACCSplcnce Deed IATCj_?6Ju!y 90/6 3

2.

2.1

ACCEPTANCE OFTAKEOVER OFFER

Objigajjon to accepl

In considerof ion off he inuruolpromlsessef outin this deed and the Bidder poying theShoreholder $1 (receipt of which is ocknowledged by the Shorehotden, iffhe Bidderpublicly on nouncesthe Tokeover Offer priorio I August 2016, the Shorehdderwiil:

(0) irrevocobly occeplthe Tokeover Offer in respect offhe Acceptonce Shoresby no luterfhon the Acceptonce Time; Grid

do everyIhing Iincluding executing ony deed Grid inoking ony election)fholthe Bidder reosonobly requires. to give full effect to the Shoreholder'sobligations to occept the Tokeover Offer in respect of the ACceplonceShores.

No withdinwalofacceplonce

The Shorehotden

101 irrevocobly woives ony rights if ingy hove under section 650E of theCorporalions Act, in the eventfhoflhe Bidder vonesfheTokeoverOffer; Grid

covenonfs riotfo exercise onyrighfsif ingy hove townhdrow its occeplonceof the Tokeover Offer in respect offhe Acceptonce Shores, including undersection 650E offhe Corporofions Act.

Appointment of offorney

To secure the performonce off he Shoreholder's obligofions under this CIOuse 2.1heShareholder hevocobly OPPoinfs ony directorforfhe time being of the Bidder to behadtorney in its nome Grid on its beholfto execute ony occepfonce forms Grid to dosuch other ads Grid things OS may be necessary to accept 10r procure theoccepfonce) ofo TokeoverOfferinrespectoffhe Acceptonce Shores in occordoncewith Grid OS contemptaled by the terms off his deed.

Acknowledgments

Forthe ovddonce of onydoubt:

(o1 the previous deed in relofionto the Tokeover Offer, executed by the ponteson erground 30 Mqy2016, islermjnqtedwi!h jinmedioteeffecfosotfhe doteoffhis deed Grid o11 parties woive ony CIOims they have or may hove OS aresult off his terminalion.

this deed onlyoppliesfo the Acceptonce Shores ond does not OPPly to onyother Shores held or controlled by the Shoreholder Ifor exomple, theShoreholder is free to deol with ony Shores held or controlled by theShoreholderositseesfit, other Ihon the AcceptonceShores which must onlybe deolf with in occordonce with this deedj; Grid

ICj nothing in this deed obliges the Bidder to onnounce or proceed with theTokeover Offer,

Ib)

2.2

Ib)

2.3

2.4

Ibj

3.

3.1

WARRANTIES

Worranfies by!he Shareholder

The Shorehdderrepresenfs Grid worronfsfo the Bidder Grid its Associofesthof eoch ofthe 510femenfs in Port A of Schedule I is true ond occurofe Grid will be true Grid

FIG Bid ACcep+once Deed IATCj_261uly 20/6 4

3.2

occurofe of o111imes up to Grid including the dote of occeptonce of the TokeoverOffer under CIOuse 2.1.

Warranties by the Bidder

The Bidder representsond worronisfo the Shorehdderlhot eoch off he sidemenfsinPort B of Schedule 1151nJe ond occurofe Grid will be true ond occurofe of ontimes

up 10 Grid including the dote of occepfonce of o Tokeover Offer under CIOuse 2.1.

4. RESTRICTIONS ON SHAREHOLDER

The Shoreholder ogrees:

101 not to dispose of, Ironsfer, encumber or otherwise deol with ony of theAcceptonce Shores or ony interests in the Acceptonce Shores, except tooccepfthe Tokeover Offer for o11fhe Acceptonce Shores during the offerperiod of the Tokeover Offer in occordoncewifh this deed:

to exercise alrights o110ching to the Acceptonce Shores, induding onyvoting rights, OS directed by the Bidder;

noffo directly orindirecfly inoke or couse to be mode any offer, invitalion orsolicitotion for, or directly or indirectly purehose or of heMise ocquire onyRelevonflnferestin ony Shores, including the Acceptonce Shores 10therihonpursuonffo+he conversion orexercise of onVComponyconverfible securitieson issue OS offhe dote offhis Deed (Convertible Securities);

notfo CO-OPerofe crossisf orenferinto ony ogreemenf orcrrongemenlwifhony person relofing to or connected with the inoking of any offer for thepurehose or ocquisifion of ony Relevonf Interest in ony Shores, including theAcceptonce Shores(other Ihon pursuontto the conversion orexerciseof anyConvertible Securities on issue OS offhe dote of fhis deedj; Grid

not 10 procure Gridher person to apply for, ocquire or dispose of Shores,including the Acceptonce Shores or enter Into on ogreemenfto OPPly for,ocquire or dispose of Shores, including the Acceptonce Shores, other Ihonpursuonffo the conversion or exercise of ony Convertible Secutities on issueOS offhe dofe offhis Deed.

Ibj

IC)

Id)

tel

5* TERMINATION OF OBLIGATIONSIN CLAUSES 2 AND 4

The objigofions sef outin CIOuse 2 Grid CIOuse 4 terminate jinmediofely Grid willceoseto be of ony effect, without ony further oction being required of either pony, it

101 the Tokeover Offer hos not been mode by the End Dole or having beenmode is wiihdrown:

the Tokeover Offer lopses orexpires becouse o defeofing condition hos notbeen saltsfied or woived offhe end offhe Offer Period: or

the offers under the Tokeover Offer hove been deciored uricondifionottorthe Bidder hos notified Ihof o11 of the conditions have been satisfied or

woivedj Grid Ihe Shoreholder hod occepted the Tokeover Offer in respectoffhe Acceptonce Shores,

of ony time before the Acceptonce Time, o Superior Proposal is mode Gridthe Bidder not within 3 Business Doys off he Superior Proposol hoving beenmode, mode on offer or Grinounced on intention to inoke o counter

proposol.

Ib)

ICj

Id)

Pre Bid Acrepl. rice Deed INCj26Juiy 20/6 5

6. SUBSTANTIAL HOLDER NOTICE

The Bidder ogreesfhoiif will lodge with the AsX o "Form 604 - Notice of Chonge ofInferesfs of Substonfiol Holder"in relation to the Acceptonce Shores, of the timerequired by the Corporofions Act.

7.

7. I

NOTICES

Notices in writing

EQch notice outhorised or required to be given to o Pony sholl be in legible writingGrid in English oddressed to the Forty's oddress set out in CIOuse 7.2 for such otheroddress nominofed in occordonce with CIOuse 7.31.

Initial oddress of PCIrties

The minol oddress offhe Portiesshol! be OSfollows:

Address Allenlion

7.2

Party

CHIFLEYPORTFOLIOS PTYLIMITED

A1monlyIndustries Inc

LEVEL 7, 151MACQUARIESTREET, SYDNEYNSW 2000

7.3

100 King Street DennisLogonWest, Suite 5700 Director & CFOToronto, ON

IC7MsXConodo

Change of Address

EQch Pony inoy from time to time chonge its oddress by giving notice pursuonftoCIOuse 7.1 to the other Ponies.

Receipt of nomce

Any notice given under this Deed will be conclusiveIy deemed to hove beenreceived:

(0) in the coseofpersonoldelivery, on the octuoldoy of delivery;

Ib) if serif by moil, two 121 Business Doys from Grid including the doy of posting;or

to I

DAVID HANNON

7.4

E-mail

dhonnon@cigroup. net. ou

Dennis. Lo on@Aimont .coin

if sent by focsimile, when o incsimile confirmofion receipt is receivedindicoting successful delivery; or

Id) ifsenf by e-moil, when o delivery confirmation reportis received by thesender which records the time Ihot the e-moil wos delivered to the

oddressee's e-moil oddress (unless the sender receives o delivery foilurenotificotion indicating fhof the e-moil hos riot been delivered to theoddresseej,

buf iffhe delivery erreceipf is on o doy Ihofis riot o Business Doy errs offer 5:00 pmtoddressee'slimejitisregorded OS received of 9:00 Qin on the following Business Doy.

Freeld Acceptance Deed jATC;_26Ju1, 2316 6

8.

,

COSTS AND DUTY

(0) Subject to CIOuse 81bj, eoch pony must poy its own expenses incurred innegotiofing, preporing, execufing, completing Grid corrying info effect thisdeed.

Ibj The Bidder must indemnify the ShoreholdeT ogoinsf, Grid must poy fheShoreholder on demond the Qinount of, ony Duty Ihofis poyoble on orinrelolion to this deed Grid the ironsoctionsfhofif contemplates.

9. .

9.1

GENERAL

Governing Iuw und jurisdiction

101 This deed is governed by the lows of Western AUSlrolio,

Ibj Each ponysubmifs 10 the non-exclusive jurisdiction offhe courts off hot Stole,Grid of ony courtfhol inoy heor OPPeols from ony of those courts, for onyproceedings in connection wifh this deed.

Third party rights

If o provision off his deed (including CIOuse 3,111s expressed to benefit on Associate ofIhe Bidder IBeneficioryj, the Shoreho!der ogrees that the Bidder holdsfhof benefit inits own copocify Grid OS trustee forthe Beneficioiy, grid inoy enforce this deed ontheir beholf Grid fortheir benefit.

Giving elfeclfo his deed

EQch pony must do onyfhing tincluding execute ony deedj, Grid must ensure fhofifsemployees Grid agents do onyfhing jincluding execute ony deedj, that the otherpony inoy reosonobly require to give full effectfo this deed.

Operation offhis deed

101 This deed couldns the entire agreement between the parties obouf itssubject malter. Any previous undersfonding, ogreement, representation orworronfy relofing to ingfsubject inciterisreploced by this deed Grid hos nofurther effect.

Any provision off his deed which is unenforceoble or portly unenforceoble is,where possible, to be severed to the exfenf necessory to make this deedenforceoble, unlessfhis would motoriolly chonge the intended effect offhisdeed.

Counterpqrls

This deed inoy be executed in ony number of counterports.

Confidentlolily

The ponies ogree to keep this deed Grid its contenfs Including the existence Gridterms of the Takeover OfferI confidentiol untruthe Bidder hos given a subsiontiolholding notice to AsX Iwhich altoches o copy offhis deedjin respect off he relevonfinterest that the Bidder ocquires OS o result of this deed, or untilfhe Bidder hosotherwise Grinounced fhe terms offhis deed to AsX OS port alits Grinouncemenf ofthe Tokeover Offer.

9.2

9.3

9.4

Ibi

9.5

9.6

PreB;a Acreplorice Deed IATC!_?6J, Iy 20/6 7

SCHEDULE I

PurlA-Shareholder's Worronlies

10, THESHAREHOLDER

(0) IftheShoreholderisobodycorporofe:

iris duly incorporofed Grid volidiy exists under the lows of the PIOcetryof its incorporolion; Grid

if hos token o11 corporole oction Ihof is necessory to authorise itsentry info this deed Grid cony oat the ironsoctions Ihof ifcontemplates.

Ibj The Shoreholder hos full power Grid oathorlfy to enter into this deed Gridperform its objigofions under this deed.

This deed constitutes legol, volid Grid binding obligofions offhe Shoreholder,enforceoble ogoinstlheShoreholderin occordoncewifh its terms(exceptfothe extentlimifed by equifoble principles Grid lows offecting creditors' rightsgenerollyj, subjectfo ony necessory reg;strollon or poymenf of Duty.

Neither execution off his deed by the Shoreholder northe corrying out by ifoff he Ironsoctions Ihotihis deed contemplofes, does or will:

~"~~(i)~' conlrovene onyopplicoblelow, regulofion orcufhorlsofion;

coatrovene ony contTocf, underjoking orinstrumenf binding on thetinyShoreholder or ony of its properly; Grid

iffheShorehdderiso body corporole, contrivene the Shoreholder'sconstitution or equivolenf constituent deeds.

THE ACCEPTANCESHARES

Each of the Acceptonce Shores ore fully poid up,(0)

to) The Shoreholderis the owner offhe Acceptunce Shores with full power 10Ironsfergood title to the Bidder torts Associofej.

Upon occepfonce of o Tokeover Offer under CIOuse 2.1he AcceptonceShores will be free from Encumbronces.

NO TRUST

The Shoreholderis either:

not entering info this deed OS trustee of ony trust orsefflemenf: or(0)

entering info this deed OS trustee of o trust orsefflement ithe Trust) Grid eochIb)stolemenfin porogroph 4 below is true Grid occurole.

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Pre Bld Acceptsnce Deed INCl_26July 20/6 8

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The following definitions OPPly in this porogroph 4:

Trust Deed meons the trust deed that esioblishes grid governs theIilTrust.

fin Trust Fund meons the OSsefs off he Trust.

Ibj The Trust is duly constituted Grid hos hottermindfed, nor hosthe dote oronyevent occurred forthe vesting offhe Trust Fund.

The Shoreholderisthe sole frusfee of the Trust. The Shoreholder hos not givenony ridice of resignofion Grid no oction hos been foken to remove it or toOPPoinf on odditionoltrustee of the Trust.

Id) The Shoreholderhosfulliegolcopocity Grid power under the Trust Deed to:

Iil own the Trust Fund Grid corry on the business offhe Trust OS ifis nowbeing conducted; Grid

enter info this deed ond cony out the ironsodions that this deedcontemplates,

OS trustee off he Trust.

(e) All oction Ihotis necessory under the Trust Deed orallowfo:

1/1 outhorise the Shoreholder's entry into Ihis deed Grid cony out theIronsocfionsfhotfhis deed contemplofes;

ensure Ihoffhis deed islegol, vo!id Grid binding on if OSIrusfee off heTrusl Grid odinissible in evidence ogoinstiiin Ihol copocify; Grid

enoble illo properly corry on fhe business off he Trust,

hos been token.

The Shoreholderis entering into this deed OS port off he proper odininisfrofionof the Trust, forfhe coinmerciol benefit off he Trust Grid forthe benefit off hebeneficiories of the Trust.

Purr B - Bidder's Warranlies

14. THE BIDDER

(0) The Bidder:

Iii is duly incorporofed Grid volidly exists under the lows off he PIOce ofits incorporation;

hostoken o11 corporale oction Ihofis necessoryfo outhorise its entryinto this deed grid cony out the Ironsoctions fhofit contemplates;Grid

hos full power Grid GUIhorify to enferinfo fhis deed Grid perform itsobligofions under this deed.

to) This deed constitutes legol, volid grid binding obligotions offhe Bidder,enforceoble ogoinsffhe Bidder in occordonce with its terms Iexcepffo the

,

TRUST

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Pre Bid Acrepl. rice Deed IATCj26July 20/6

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extent limited by equifoble PIindples Grid lows offeating creditors' rightsgenerollyj, subjectlo ony necessory regisfrolion or payment of Duly,

Neither execution offhis deed by the Bidder northe conying out by if offheironsodionsfhoffhis deed confemplofes, does orwill:

confrovene ony OPPlicoble low, regulofion or authorisation:In

contravene anyconfrocf, underjoking orinstrumenf binding on thetinyBidder or ony of its properly; or

controvene the Bidders constitution.Iiii)

PreBb ACcaplonce Deed IATCj26Ju1, 20/6 10

SCHEDULE 2

Agreed BidTerms

Refer to o110ched Heods Of Agreement.

Pre BkiAcceplcnce Deed IATCj. 26July 20/6 11

*

This binding heods of ogreemenf(HOA orfhis ogreemenf)is doted

This HOA sets out the terms Grid conditions upon which A1monfy Industries Inc.11ncorporofed in Conodo ond listed on the TSX Venture E>:chonge with the TSX-V code All)IAImonfy) sholl inoke o tokeover bid to ocquire up to 100% off he issued fully poid oldinoryshores in the copifolof ATC Alloys Limited IACN 1/8 738 9991(AsX code: ATA) IATC)subjectto CIOuse 4 10ffer).

A1monty Grid ATC Ieoch o pqrly Grid together the pontes) ogree Grid ocknowledge Ihotthis HOA is intended to be legolly binding. This HOA supersedes ony Grid o11 previouscorrespondence, ogreemenfs or under510ndings between the pontes. Withoutlimifofion,the Binding Heods of Agreement between ATC Grid A1monty dofed 31 Moy 2016 IPreviousHOA)is terminofed with jinmediofe effect upon the dote offhis HOA. The pontes, withoutodiniffing ony Iiobilify, hereby irrevocob!y ond uriconditionolly releose Grid foreverdischorge eoch other from o110nd ony CIOims, couses of oction, coinploinls, lidbilifies, costsGrid expenses tincluding in eoch cose thosewhich ore present, future, octuol, contingent,known Grid/or unknownjihof ony pony or other person hos or might hove in connectionwith or onsing in ony woy from the Previous HOA or the ironsoctionsif contemplofed.

Allreferences to $ in this HOA ore in AUSfrolion dollors unless otherwise stored.

BINDING HEADS OF AGREEMENT

I. Acquisition

2. Tokeover Bid

2016.

Subject to the terms of this HOA, including twithoutlimitotion) CIOuse 4, A1monfy will offer to ocquire up to100% of the issued fully PGId oldinory shores in the copifolof ATC IATC Shores) from the holders off he ATC ShoresIATC Shoreholders) in consideronon for the issue ofcommon shores in the copifol of A1monfy IAImonfyShores) IAcquisilion) by woy of o tokeover bid.

(0) A1monfy ogrees to inoke the Offer:

by woy of on off-ingrkef tokeover bidIilIBidjfor o11 ATC Shores under Chopter 6of the Corporalions Act 2001 ICfh)(Corporations Act) subject to theConditions Grid otherwise in

occordonce with the terms off his HOA;

for o11 ATC Shores which ore on issue

prior to the close of the period of theOffer 10ffer Period), including for theovoidonce of doubt, o11 ATC Shores

issued during the Offer Period, no monerhow issued; ond

If the number of ATC Shores held by on ATCShoreholder meons fhof their o99regofeentitlement to A1monfy Shores under the Offer isnot o whole number, then ony froctionolentitlement will be rounded up to the neoresfwhole number.

3. Considerchion

4.

tm

2189-02/14B6100_2

Conditions

Ib)

Subject to CIOuse 4, the consideron on in respect of theAcquisition shoji be I A1monty Shore for every 10.38 ATCShores Iconsiderofion).

The Offer Grid ony confrocf resulting from theocceptonce of the Offer will be subject to fulfilment 101woiver) offhe following conditions:

(0) IMinimum Acceptance): during the Offerperiod, A1monfy hos received occeptoncesunder the Offer Ihof give it o relevontinferesfinof Ieosf 9096 Iby number) of o11 offhe ATC Shoreson issue on o fully dilufed bosis;

Iconversion of ATC 5c Notes): the convertiblenofes held in ATC with o conversion price of$0.05 be deolf with such Ihof:

Ii) of Ieosf 75% of these notes Iby volue)ore converted info ATA Shores prior tocompletion offhe Offer; ond

the reinoining notes ore redeemed fortheir current volue;

Iconversion of ATC 25c Notes); the convertiblenotes held in ATC with o conversion price of$0.25 be deolfwifh such fhot:

of Ieost 75% of these notes Iby votue)Ii)ore concelled in considerof ion for the

receipt of convertible notes in A1montywith on equivolent volue Grid of heMiseon the terms conjoined in Annexure B;Grid

the reinoining notes ore redeemed fortheir current volue;

ITSX OPProvol): OPProvol by the TSX VentureExchonge ITSXj for the quotofion of A1monfyShores comprising the Considero110n on the TSXfollowing completion offhe Acquisition;ICQpifol Rqising): A1monfy receiving, offer thedote of this ogreemenl, cleored funds to thevolue of o11eosf Us $5.5 million PUTSuonfto equity,debt or hybrid copifol roising or onycombinofion offhose types of copitolroising;IAPprovals): the objoining of o11 regulotoryOPProvols in order to o110w the Acquisition GridOffer to occur, including but riot limited to Ihofoffhe TSX grid ASIC;

10therApprovals):the oddning by both pomesof o11 other OPProvols necessory to o110w theAcquisition Grid Offer to occur;

IMqferiolly odverse chongej: no event, inotteror circumsfonce occurs which individuolly, orwhen o99regofed with o11 such other events,inoffers or circumsfonces results in or could

reosonobly be expected to resultin o motoriollyodverse chonge 10 the OSsefs, Iiobilities, finonciolposition, performonce, profitobilify or prospectsof ATC;

IMOferiolly odverse chonge of lows): no chongein the lows of Vieingin, Conodo or AUSfroliooccurs which, octing reosonobly, would hove omoleriolly odverse effect on ATC's moleriolOSsefs IOCoted in Vietnom;

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2189-02/1486i00_2

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IPre-Bid Acceptances): prior to inoking theOffer, A1monfy hosreceived written confirmationfrom the holders of 19.9% of the ATC Shores on

issue fhottheyintend to occepfinto the Bid'tGridthis is. included in the public Announcementl:Grid

Ik) INOPrescribedOccurrence):during the periodfrom the dote of the Public Announcement to

the end of the Offer Period Inclusive), noPrescribed Occurrence 10s defined in AnnexureA1 occurs in respect of ATC,

(together the Conditions).

The Conditions ore conditions subsequent Grid do riotprevent o coinrocf resulting from occeptonce of theOffer from coining into effecf, but ony breoch or nori-fulfilment of ony of the Conditions entitles A1monty torescind ony controcfs resulting from occepfonce of theOffer.

ill

5. Woiver of Conditions

6. A1monfyfundroising

7.

The Conditions ore forthe benefit of A1monfy ond inoyonly be woived by A1monty giving notice in writing toATC.

Public Announcement

Nomifhsfonding the other CIOuses offhis ogreement, theponies ocknowledge Grid ogree Ihof, followingexecution of this ogreemenf, A1monfy is permitted, ofA1monfy's sole discretion, to roise funds, includingtwithouf limitofion) by issuing equity, debt or hybridsecurities 10r ony combinotion of those forms of copifolroising) Grid the pontes ogree Ihot doing so does riot, Gridwill not, breoch ony objjgqjjon or creole ony Iiobiljfyunder this ogreement or otherwise.

(0)

8,

Immediotely offer the execution of this HOA,ATC Grid A1monty must eoch issue on ogreedpublic Grinouncemenf respectively on theAUSfrolion Securities E><chonge IASX) Grid TSXIPublic Announcement) in relofion to this HOA,the Offer Grid the Acquisition

In this Public Announcement Grid, subject toreceipt of o Superior Proposol(defined in CIOuse13 below), in following Grinouncemenfs, ATC will:111 support the Offer Grid the Acquisition;

Grid

use its reosonoble endeovours to jointlypromote the Offer, Bid Grid Acquisitionto ATC Shoreholders with A1monty.

Exclusivify

Ibj

2189-02/14Bei00_2

nil

Subject to CIOuse 11 below, ATC covenonfs Grid ogreesIhot, from the dote offhis HOA untilfhe eorlier offhe dotewhich is 6 months offer the dote off his HOA orthe dote

fhotfhis HOA is terminated in occordonce with its terms,

(Exclusivify Periodj, it shoji riot solicit, occepf onOPProoch in connection with or negofiofe with ony otherporty in relotion to, o Third Pony Proposol(OS definedbelow or rovide informalion or co-o eTofein on wo

3

9.

in connection with o Third Forty Proposol Grid must notifyA1monfy OS soon OS procticob!e following receipt of oThird Porfy Proposol,

"No shop" restriction

Third Folly Proposal meons ony expression of interest,proposol or offer by ony person 10therfhon from o pony)to review ATC's offoirs or to enter info ony Ironsoctionsimilorto the Acquisition for ony port din or which mightreosonobly Ieod to the proposed Ironsocfioncontemplofed in this ogreemenf riot proceeding.

IO. No folk ond no due

diligence

Subject to CIOuse 11, during the BCClusivity Period, ATCmust riot, Grid must ensure fhot none of its

representolives, solicit or invite the submission of onyenquiries, negotiofions or discussions, which mightreosonobly be expected to encouroge or Ieod toohioining ony expression of interest, offer or proposolfrom ony person in relofion to on octuol, proposed orpotentiol Third Porty Proposol or coinmunicofe to onyperson on intention to do ony offhese things.

Subject to CIOuse 11, during the E>:c!uswily Perlod ATCmust not ond must ensure Ihotifsrepresenfofives do not:

directly or indirectly enter into or porticipofe in101ony discussions or negotiotions with ony personregording o Third Pony Proposol or which wouldreosonobly be expected to encouroge or Ieodto on octuol, proposed or potentiol Third PonyProposol;

gront ony other person ony right or occess toconduct due diligence investigotions in respectof ony one or more of ATC Grid its subsidiories, OSdefined in the Corporofions Act, 1109ether theATC Group), or disclose oralherwise provide onynon-public informotion in relofion to onymember of the ATC Group with respect to, orwhich would reosonobly be expected toencouroge or Ieod to on octuol, proposed orpotentiolThird Pony Proposol;

enter into ony ogreemenf, orrongemenf orunderSIGnding in relation to, or which mightreosonobly be expected to encouroge o11eodto, on octuol proposed or potentiol Third PonyProposol; or

Id) coinmunicoteto onyperson oninfenfion to doonything referred to in parogrophs 101, Ibj or IC)obove,

even if the octuol, proposed or potentiol Third PortyProposol wos riot directly solicited, invited, encouroged,or initiofed by ATC or ony of its representofives or theperson hos publicly Grinounced the Third Pony Proposol.

Ib)

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IC)

Exceptions

218,0211486100_2

CIOuses 8, 9 Grid 10 do riot prohibit ony oction orinocfionby ATC or ony of its representofives if

4

12. Moinfoining Slotus Quo

(0)

Ib)

ATC is in receipt of o Superior Proposol(definedin CIOuse 13 below); or

the boord of directors of ATC determines, odingin good forth offer receiving written odvice fromits exfernol odvisers, thot to do otherwise

constitutes or would be likely to constitute, obreoch of ony offhe fiduciory orsfofutory dutiesoffhe directors of ATC.

Other Ihon OS contemploled in this ogreement ond in theordinory course of ATC's business, OS previously odvised inwriting to Aimonfy priorio execution of this HOA, or withthe prior written OPProvol of A1monfy, ATC ogrees fhof,during the Exclusivify Period, ATC sholl riot

(0) enter into ony motoriolconfrocf orincur onyinoferiolliobilify;

deciore ony dividends;

vory its copitolsfructure tincluding by the issue ofshores orsecurities convertible info shores); or

(d) couse to occur by oct oromission on event orseries of events whether relofed or not which

inoy hove, from the perspective of Aimonfy, omoleriol odverse effect on the Offer, the

Acquisition or ATC's business, DSSels or finonciolcondition

13. Bredk Fee

Ib)IC)

101 The pontes ogree fhof:the Offer will deliver significonf benefitsIi Ito both ponies;

the Breok Fee Idefined below) is ogenuine Grid reosonoble pre-estimoteof the costs ond losses which A1montyexpects to incurin connection with theOffer Grid iris riot o pre-condition to theBreok Fee Ihot A1monty hos octuollyincurred those costs o110sses orfhotif be

oble to prove Ihofif hos done so;

11/1

2189-02/14B6100_2

(111)

Iiv)

the Breok Fee is reosonoble in thecontext offhe Offer;

should ATC orthe in Gionfy of its directorsoccept or recommend o SuperiorProposol, ATC will be Iioble tojinmedjqjely poy to A1monly q breokfee of $100,000 IBreok Feel GridA1monly inoy, of A1monfy's solediscretion, terminofe this agreement bynotice 10 ATC of ony time offer Ihotocceptonce or recommendotionoccurs;

tv) If, despite the receipt of the SuperiorProposol, A1monfy becomes the legolGrid beneficiol holder of riot less fhon

5

50.1% of ATC Shores OS o result of the

ironsfer of ATC Shores occepfed underthe Offer, A1monfy must repoy to ATCony Qinounfreceived OS O Breok FeePUTSuonffo this CIOuse;

For the ovoidonce of doubt, the

poymenf offhe Breok Fee releoses ATCfrom ony CIOim or oction by A1monfy forony doino9es, loss or expense onsingfrom, or in connection with, the

terminofion of this ogreemenf due tothe occepfonce of o Superior Proposol.

Superior Proposol meons o bono fide Third Pony Proposolreceived offer the dote of this ogreemenfwhich the ATCboord:

(0) octingingoodfoithondreosonobly;Grid

in order to sqmfy whot the ATC boordIb)reosonobly considers to be its fiduciory orslotufory duties offer consultotion with exfemolodvisers,

determines is more fovouroble to its shoreholders 10s owhole)Ihon the Offer(joking into occounl, Qinong otherthings, o111egol, finonciol, regulofory, conditiono1ify,certoinfy, timing Grid other OSpecfs of the Third FortyProposot Grid the identify offhe offeron.

Ivi)

14. Further Assuronce

IS. Governing Low

I6.

EQch pony sholl sign Grid execute o11 deeds Griddocuments Grid sholl do o115uch oats ond things OS inoyreosonobly be required by the other pony to effectiveIycorry out Grid give effect to the terms Grid intentions ofthis HOA.

vonotion

I 7. Assignment

The ogreemenf constituted by this HOA sholl begoverned by Grid consirued in occordonce wifh the lowfrom time to time in Western AUStrolio. The ponies ogreeto submitto the non-exclusive jurisdiction offhe Courts ofWestern AUSfrolio Grid the Courts which heor OPPeolsfrom those Courts.

18. Terminofion

No inodificotion or drieronon offhe terms offhis HOA sholl

be binding unless mode in writing doted subsequent tothe dote of this HOA Grid duly executed by the pontes.

2189-02/14B610C_2

Neither pony inoy OSsign ony of the rights or obligationsconferred by this ogreement withoutthe consent of theother.

This ogreemenf outomoficolly terminoles on the eorlierof:

(0) the dote on which the Offer Period ends; Grid

(b) the dote which is 6 months offer the dote offhis

ogreemenf,

orsuch other dote OS A1moniy Grid ATC ogree in writing.

6

I 9. Costs

20,

In the event offerminofion offhis ogreemenf pursuontfothis CIOuse or CIOuse 13, this ogreemenf will hove nofurther effect, other Ihon in respect of ony Iiobility for onyGritecedenf breoch of this ogreement, provided thotfhisCIOuse 18 Grid CIOuse 13 survive termination.

Notices

EQch pony sholl beorlheir own legol costs Grid expensesof negationrig, preporing Grid executing this HOA Gridony other instrument executed under the HOA.

A1monfy sholl be responsible for poying ony stomp dutyOSsessed on or in respect offhis HOA Grid the Bid.

EQch notice oathorised orrequired to be given to o ponysholl be in writing Grid inoy be delivered personolly orsenfby emoil or properly oddressed prepoid moilin eochcose oddressed to the porty of its oddress set out below:

In the cose of ATC:

Level1, 33 Ord StreetAddress:

lootrick. burke@of colloys. coinErnoil:

Pornck BUTkeAttention:

In the cose of A1monfy:

100 King Street West, Suite 5700Address:

Toronto, ON M5X IC7 ConodoErnoil: dennis. logon@o1monfy. coinAttention: Dennis Logon

21. Severonce

22. Counterports

Iffhe terms Grid conditions set out obove ore occeptoble, PIeose execute this HOA inthe OPPropriote PIOce below.

EXECUTED OS o deed by ATC AlloysLimited

ACN 1/8 738 999

in occordonce with section 127 of the

Corporofions Act2001jCfh):

If ony provision of this ogreement is involid Grid notenforceoble in occordonce with its terms, o11 other

provisions which ore self-susfoining Grid copoble ofseporofe enforcement without regord to the involidprovision, shall be Grid continue to be volid Grid forcefulin occordonce with theirferms

This HOA inoy be executed in ony number ofcounterports, eoch of which when executed Griddelivered to the other porty sholl constitute on originol,but o11 counterportsfogefhersholl constitute one Grid thesome ogreemenf

Signofure of director

2189-02/1461c0,2

Signofuresecretory*

of director/coinpony

7

Nome of director

EXECUTED OS o deed by A1monfyIndustries Inc. (Incorporofed inConoda)in occordonce with its constituent

documents:

Signoture of director

DennisLo on

Nome of director/coinpony secretory*

Nome of director

ANN ExuRE A - PRESCRIBED OCCURRENCES

Prescribed Occurrence meons ony offhe following:

101 ATC converts o11 or ony of its shores info 0 10rger or sinoller number of shores,including under section 254H offhe Corporotions Act

Ibj ony member of the ATC Group resolves to reduce its shore copifolin ony woy orreclossifies, redeems errepurchoses ony of its shores;

(c) ony member offhe ATC Group entersinto o buy-bock ogreement erresolvesfoOPProve the terms of o buy-bock ogreemenf, including under section 257C(11 orsection 2570(11 offhe Corporalions Act

Id) ony member offhe ATC Groupissuesshores, convertible notes orofhersecurifiesor 910nfs on option or performonce right over ony shores, convertible notes orother securities tincluding equity securities, debt securities or convertiblesecurities) tor ogreesfo in oke such on issue or gronf) other Ihon the conversion ofconvertible securities the existence of which hos been foirly disclosed to A1monfybefore the dote offhis ogreemenf;

ATC omends or proposes to omend its constitution;

ony member offhe ATC Group creoles orogreesto creche ony encumbronce orsecurity interest over the whole or ony port of its business, property, OSsefs orunderjoking;

(9) on order(of o court or otherwise) or OPPlicotion is mode or o resolution is possedforthe winding up of ony member offhe ATC Group;

Signaluresecretory*

of

Nome of director/coinpony secretory*

director/coinpony

tel

in

218,02114B6100_2 8

Ih) on odininisfrotor, liquidotor, provisional liquidofor, receiver or receiver Gridmonogeris OPPoinfed in respect of ony member offhe ATC Group orfhe wholeor ony port offhe OSsefs or underjoking of ony member off he ATC Group, or onymember offhe ATC Group executes o deed of coinpony orrongement;

ony member of the ATC Group ceoses to corry on business errs deregisferedunder the Corporofions Act or other OPPlicoble legislotion in force outside ofAUSfrolio;

ony member off he ATC Group entersinfo ony unusuol or obnormol confroct orcommitment which is outside the ordinory course of business ond which couldreosonobly be expected to:

chonge the rioture of the business conducted by the ATC Group; or(1)

Iii) hove o moleriot odverse impocf on the business conducted by the ATCGroup;

ony member of the ATC Group entersinto o controcf or commitment restroiningony member of the ATC Group from competing with ony person or conductingoctivifies in ony in orket;

ony member of the ATC Group entersinfo or otherwise becomes o pony to, onymolerlolfronsocfion with o relofed pony 10sfhofferm is defined in Chopfer2E ofthe Corporofions Adj of ATC 10therfhon between ATC grid o direct orindirecfwholly owned subsidiory of ATC);

Im) ony member offhe ATC Group declores, poys, or determines to be poyoble onydistribution, bonus or other shore of its profits or OSsefs (whether by woy ofdividend, copitolreducfion or otherwise Grid whether in cosh orin specie), otherIhon the declorofion ond poymenf by ony subsidiory of ATC of o dividend wherethe recipient ofihof dividend is ATC or o wholly-owned subsidiory of ATC;

In) any member offhe ATC Group disposes of, oroffers or ogreesfo dispose of, onyin oferiol business, OSset, joint venture interest, entity or underjoking for ony interestin o business, OSsef, joint venture, entity or underjoking) or inokes onGrinouncementin relofion to such o disposol, offer or ogreemenf;

(0) onyinemberoffheATCGroup:

enters info ony finoncing orrongemenf or commitment or ogrees toIi)extend, repoy or moleriolty omend ony existing finoncing orrongemenfor commitment or

guoronfees, indemnities or provides security for the obligotions of onyperson orenfity other Ihon o member offhe ATC Group; Grid

IP) ony member offhe ATC Group ogrees oronnounces on intention to toke ony ofthe octions referred to in porogrophs (0) to (0) 0bove,

provided Ihof o Prescribed Occurrence will riotinclude ony inoffer:

Iq) required or permitted 10 be done or procured by ATC under the HOA;

required to be done OS o result offhe Bid:( r)

01

(1)

(k)

I I I

tin

2169-02/14B61c0_2 9

.

ISI

(1)

Iu)

required to be done by the ATC boord of directors in order to comply with thefiduciory or slotutory duties of its directors;

foilly disclosed by ATC to A1monfy in writing priorio execution offhis HOA;

directly resulting from ony octions token 10r omitted to be token) following owritten request from A1monty orwifh A1monfy's prior written consent or

OPProved in writing by A1monty.Iv)

?189-02/1486i00_2 10

- I

ANNEXURE B - TERMS OF NEW ALMONTY CONVERTIBLE NOTES

Issuer:

Security:

Term:

Offering Price:

Aimonfy Industries Inc. ICOmponyjjTSX-V: All).

Interest:

Non-ironsferoble secured convertible debentures ItheDebentures) subjectfo the terms Grid conditions below.

Twelve 1/21 monthsfrom the dote of issue.

Option o1Conversion:

Nil. The Debentures ore provided in exchonge for convertiblenotes held in ATC Alloys Limited pursuont to o Heods ofAgreement if hos entered into with the Coinpony dotedtinsertj.

Hold Period:

The prtncipol Qinounf of the Debentures outsfonding fromtime to time sholl be Grinferesf of o rote of 5.0% per crinum,poyoble semi-Grinuolly, on Jonuory I Grid July I eoch yeorGrid the moronfy dote.

The holder offhe Debentures inoy elect Giftssole option onor before the moronfy dote to convert the outsfondingprtncipol dinounf offhe Debentures, info common shores ofthe Coinpony of o conversion price of CAD$0.55 pershore,

Restriction on Future

Issuonces:

OfferingJurisdictions:

A prtvofe PIOcemenf hold period offour(4) months will OPPlyin Conodo to the Debentures Grid any underlying commonshores issued during such period. Additiono1resole restrictionsinoy GISO OPPly in other jurisdictions for investors residentoutside Conodo.

There ore no restrictions on further offerings by the Coinpony.

The Debentures inoy be issued in Conodo Grid internalionollyIOUfside the U. S. ) to "occredited investors" 10s defined inConodion Notiono1 Instrument 45- 106 ProspectusExemptions) or other jurisdictions, of the Coinpony'sdiscretion, on o prtvote PIOcemenf bosis, subject tocoinplionce with OPPlicoble securities low Grid ovoiloble10nvofe PIOcemenf exemptions in the jurisdictions of investorsresident in AUSfrolion Grid such other jurisdictions OS inoy beogreed upon by the Coinpony. The Debentureswill be issuedpursuonf to o subscription ogreement coinoining termstvpicol for Ironsocfions of this rioture Grid in form gridsubsfonce saltsfocfory to the Coinpony Grid the holder ofthe Debentures octing reosonobly.

Listing:

Voting:

The Debentures will riot be listed for troding Grid will riot beIronsferoble. As o condition to closing, the Coinpony willOPPly for Grid receive conditiono1 0ccepfonce forthe listingoffhe common shores to be issued upon the conversion ofthe Debentures on the TSX Venture Exchonge ITSXV). There iscurrently no inorkefforfhe Debentures Grid none is expectedto develop.

2189-o2/14861c02

The Debentures will riot corry o right to vote of meetings ofshoreholders of the Coinpony.

,

Security und Runk:

Terms Grid Conditions o

Debenfures:

Documentation

Approvols:

The Debentures will be unsecured Grid sholl in o11respecfsronk pori possu with o11 other unsecured obligofions of theCoinpony.

This term sheet is o summory of the prtncipol terms Gridfeofures of the Debentures, which will be governed by theterms Grid conditions of o debenture certficote. In the event

of o conflict between this summory Grid the debenturecertificofe, the debenture certificofe sholl prevoil.

and To be issued pursuonf to the subscription ogreement Griddebenture certificofe with the holder of the Debentures,subjectfo TSXV Grid third pony OPProvols, in oddition to theOPProvol offhe Coinpony's boord of directors,

2189-02/14B61c0_2 2

EXECUTED o50 deed.

EXECUTED by CHIFLEY PORTFOLIOS PIY LIMITED(ACN 001 303 9391in occordonce with section 127 of the

Corporal^bns Act2001(Cfhj:

Signoture of director

V\. v\Nome of director

SIGNED in Ihe presence of:

Signolure of witness

^

Signalwe of director/coinpony secreloryIPIeose delete OS OPPlicoble!

Nome of witness

Nome of director/coinpony secretoryIPIeose delete OS OPPlicoblej

EXECUTED BY AIMONTY INDUSTRIES INC

11NCORFORATED IN CANADAjin occordonce with its consiifuenl documenls

Grid PIOCeDg^gj^;;;ar^profion:,/-".";;' -

~ Dire<:for~~

7 D"""IAW12BA78CFB5AC475

Director/Secretary

Freeld ACc"PIunce Deed INCi_26Jufy 2016

,

Director

Directorsecretory

12

,

Annexure C to Form 604- Pre-Bid Acceptance AgreementATC Alloys Ltd ACN 1.8 738 999

This is Annexure C of 26 pages referred to in the Form 604 signed by me on the date noted below.

One Pre-Bid Acceptance Agreement is attached.

2<v'~,,,,, ,' 'Dun""*n

Signature



Date: 28 July 2016

6

CORREZE FTY LTD und

AIMONTY INDUSTRIESINC

11NCORPORATED IN CANADA AND LISTED ON THETSX-V UNDER CODE A/D(Bidder}

PRE-BID ACCEPTANCE DEED

THIS DEED is mode on the 26 doy of July 2016

BETWEEN

CORREZE FTY LTD IABN 167 851 2741 of LEVEL 3, 88 WILLIAM STREET, PERTH WA 6000 lineShoreholderl;

AND

AIMONTY INDUSTRIES INC 11ncorporoted in Conodo Grid listed on the TSX-V under code Allj of100 King Street West, Suite 5700Toronfo, ON M5X IC7 Conodo (Ninonlyorfhe Bidder).

RECITALS

Nthe dote off his deed, fhe Shoreholderislhe owner offhe Acceptonce Shores.

The Bidder intends to put o proposolfo the boord offhe Coinpony subsfonfiotIy onthe terms o110ched of Schedule 2.

The Shoreholder underjokes to:

o. not dispose offhe AcceptonceShoresofherfhon in occordoncewithihis deed:Grid

b. occepffheTokeover Offer with respectfo the AcceptonceShores,

on the terms Grid conditionsset outin this deed.

This deed supersedes ony previous deeds between the ponies in relofion 10 theAcceptonce Shores, including withoutlimifofion the deed execufed by the pontes onororound 30 Moy 2016 is hereby ferminofed with jinmediofe effect OS offhe dote ofthis deed.

THE PARTIES AGREE As FOLLOWS:

A.

B.

C.

D.

I.

1.1

INTERPRETATION

Dennilions

The following definitions OPPly in this deed.

AcceptonceShores meon52515609 Shores held by the Shoreholderotthe dote offhisdeed.

Acceptunce Time meons 5:00 pin on the dote which is three Business Doys offer thecommencement offhe Offer Period.

Agreed Bid Terms meonsthe termssef outin Schedule 2,

Associate includes:

in respect off he Bidder, ony person who is o wholly-owned subsidiory of the101Bidder; Grid

In ony other cose, ony person who is on "OSsociofe" under section 12 offheCorporalions Ad.

AsX meonsthe AUS;rolion Securities Exchonge operoted by AsX Limited IABN 98 008624 6911.

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Pre Bid AGCeplonceDeed IATCj_26 July to 16

.

Bid Implemenlofion Agreement meonsthebinding Heods of Agreement betweenfheCoinpony Grid the Bidder doted o1.0roround 26 July 2016.

Business Doy means a doyon which:

bonks ore open for general banking business in Perlh, Western AUSfrolio,excluding Solurdoys Grid Sundoys: Grid

AsX is open fortroding in securities.

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Company meons ATC AlloysLimifed IACN 1/8 738 9991.

Convertible Securilies me ons OS defined in c!ouse 41cj.

Corporations Act meonslhe Corporofions ACf2001!Cfh).

Duly meons ony ironsfer, Ironsocfion erregistrotion duty orsimilorchorge imposed byony Government Authority Grid includes ony interest, fine, penoltv, chorge or otherQinountimposed in respect of ony offhem.

Encumbronce meons:

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o RPS Security Interest:

ony other morigoge, pledge, tien or chorge;

on eosemenf, resincfive covenonf, coveof orsimilorresfricfion over properly;Grid

Id) ony of herinteres1 o101rongement of ony kind Ihotin subslonce secures thepoymenf of money or the performonce of on obligofion, orthof gives ocreditor priority over unsecured creditors in relofion to ony property.

End Dale meonsthe dote inch istwo months offer the dote footfhe Bidder makes the

public Grinouncementreferred to in CIOuse 2.1,

Government AUIhorify meons o government or government deportment, ogovernmental orsemi-governmental orjudiciot person (whether autonomous or notjchorged with the odininisfrofion of ony OPPlicoble low.

Offer Period meons the period offline during which offers under the Tokeover Offerreinoin open foroccepfonce.

FFS Secu, Ity Interesl meons o security interest inGlis subject to the Personol PropertySecurities Act 2009 ICfhj.

Relevonllnfereslh. sthe meoning given by section 9 of the Corporations Act.

Rights meons o11 0ccrefions, rights or benefits of whalever kind alloching 10 or onsingfrom the Shores including, withoutlimitofion, oil dividends or other distributions Grid o11rlghfsfo receive grid dividends or other distributions.

Shore meons o fully PCid objnory shore in the Coinpony.

Superior Proposal hos the meoning given to fhof term in the Bid Implemento110nAgreement.

Takeover Offer means on offer by the Bidder crone of its Associofes undero tokeoverbid pursuonffo Chopfer 6 of the Corporalions Adjo ocquire o111he Shores on termsno lessfovouroble to the holders of Shoresfhon the Agreed Bid Terms.

L

Pre3id Acceptonce Deed INCj_26July2, :6 2

^

1.2 Inferprelolion

In this Deed unless the context ofherwise requires:

101 heodings ore for convenience only Grid do not offecfitsinferpretotion:

(b) on obligation orliobility OSsumed by, or o right conferred on, 2 or more Poniesbinds or benefits o11 off hem jointly Grid eoch off hem severoily;

the expression person includes on individuol, the esfofe of on individuol, ocorporalion, on outhorify, on o550cioiion or joint venture Iwhefherincorporofed or unincorporofedj, o portnership Grid o trust;

Idj o reference to ony pony includesfhof pony's executors, odininislrofors,successors Grid permitted OSsigns, including ony person to king by woy ofnovofion:

o reference to ony document Including this Deed is to Ihof document OSvoned, novofed, rotified erreploced from lime to time;

o reference to anystotule orfo onysfofufory provision indudes ony sinfulcryinodificotion orre-enoctmenf of it or ony statutory provision substituted for if,Grid o11 oldinonces, bylows, regulofions, rules Grid sinfulory InstrumentsIhoweverdescribed)issued under in

words importing the singulorinclude the PIuroljond vice verso) Grid wordsindicoling o gender include every other gender;

reference to pontes, CIOuses, schedules, exhibits or Grinexures ore referencesto pontes, CIOuses, schedules, exhibits Grid Grinexures to or of this Deed Grido reference to this Deed includes ony schedule, exhibit or Grinexure 10 thisDeed;

where oword orphroseis giveno defined meoning, onyofherporf of speechor groinmoticolform of that word or phrose hos o corresponding meoning;

o referencefo time is lowestern Signdord Time o50bserved in Perth, WesternAUSlroliO;

where on odinn is required to be underjoken on o doy Ihofis not a BusinessDoy itshollbe under!oken on the next Business Doy:

o reference to a poymenfisfo o poyment by bunk cheque orsuch otherform of cleored funds the recipient otherwise o110ws in the relevonllowfulcurrency specified: Grid

jinj o reference to $ or donoristo the lowful currency off he Commonweoifh ofAUSfrolio.

Parties riot o550clnles

Despite onything in this deed, the ponies ore riotfo be regorded OS on OSsociofe ofeoch other,

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PreBid ACceplonce Deed IATC126 July 2016 3

..-,

2.

2.1

ACCEPTANCE OFTAKEOVEROFFER

Obligation 10 0ccept

In considerof ion offhe inufuol promises sei outin this deed Grid the Bidder poying theShoreholder $1 tieceipl of which is ocknowledged by the Shorehdder), iffhe Bidderpublicly announces the Tokeover Offer priorfo I Augusf 2016, the ShoreholderwitI:

ifrevocobly occepffhe Tokeover Offer in respect off he Acceptonce Shores101by no loterthon the Acceptonce Time; ond

Ib) doeveryfhing jincludingexecuting onydeed Grid ingking anyelection)thatthe Bidder reosonobly requires, to give full effect to the Shorehdder'sobligations 10 0ccepf the Tokeover Offer in respect of the AcceptonceShores.

No withdrawolof .ccepfonce

The Shoreholder:

mevocobly woives ony rights it inoy hove under section 650E of theto ICorporations Act, in the eventthoffhe Bidder vonesfhe Tokeover Offer; Grid

covenonts notto exercise onyrighfsif inoy hove to withdrow itsoccep+onceoffhe Tokeover Offer in respect offhe Acceptonce Shores, including undersection 650E offhe Corporations Act.

Appointment dofforney

To secure the performonce of the Shoreholder's obligofions under this CIOuse 2. theShorehdderirrevocobly OPPoints ony directorforthe time being of the Bidder to beits Gnomey in its nome Grid on its beholfto execute ony occepfonce forms Grid to dosuch other octs ond things OS inoy be necessory to occepf for procure theocceptonce) o10 TokeoverOfferin respect offhe AcceptonceShoresin occordoncewith Grid OS contemplofed by the terms offhis deed.

Acknowledgments

Forthe ovoidonce of ony doubt:

the previous deed in relofion to the Tokeover Offer, executed by the ponies101on ororound 30Moy2016, is terminoledwithimmedioteeffecf OS o11he doteoffhis deed Grid o11 pontes woive ony CIOims they hove or incy hove OS oresult off his terminalion.

this deed only OPPliesfo the Acceptonce Shores Grid does not OPPly to onyother Shores held or controlled by the Shoreholder Ifor exomple, theShoreholder is free to deol with ony Shores held or controlled by theShoreho!der OSifseesfii, of herfhon the Acceptonce Shores which must onlybe deolf with in occordoncewifh this deedj; ond

nothing in this deed obliges the Bidder to Grinounce or proceed with theTokeover Offer.

2.2

toI

2.3

2.4

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3.

3.1

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WARRANTIES

Worronfies by the Shoreholder

The Shoreholderrepresenfs Grid worronfs fo the Bidder grid its Associotesthof eoch ofthe siCfemenfs in Port A of Schedule lis true Grid occurofe Grid will be true Grid

Pre aid ACCSplo. co Deed IATCj_26 July 2016 4

3.2

occurofe o1 o111imes up to Grid including the dote of acceptonce offhe TokeoverOffer under CIOuse 2.1.

Wurronfles by the Bidder

The Bidder represents Grid worronfstothe Shorehdderfhof eoch offhe stalemenfsinPort B of Schedule lis true Grid occurote grid will be true Grid occurole of offlines

up to ond including the dote of occepfonce ofo TokeoverOfferunder CIOuse 2.1.

4. RESTRICTIONS ON SHAREHOLDER

The Shoreholderogrees:

not to dispose of, ironsfer, encumber or otherwise deol with ony of the101Acceptonce Shores or ony interests in the Acceptonce Shores, except tooccepffhe Tokeover Offer for o111he Acceptonce Shores during the offerperiod offhe Tokeover Offer in occordoncewifh this deed;

Ibj to exercise o11righfs alloching to the Acceptonce Shores, induding onyvoting rights, OS directed by the Bidder

notfo directly orindirecfly inoke or couse to be mode ony offer, invitalion orsolicitofion for, or directly or indirectly purehose or otherwise ocquire onyRelevont Interest in onyshores, including the Acceptonce Shores latherfhonpursuonffolhe conversion orexerciseofony Coinpony convertible securitieson issue OS offhe dote of this Deed Iconverlible Securities);

notfo co-operate orossisf or enter info ony ogreemenf or orrongemenf withony person relating to or connected with the inoking of ony offer for thepurehose or ocquisifion of any Relevont Interest in ony Shores, including theAcceptonceShoresjofherfhon PUTSuonffotheconversion orexercise atonyConvertible Securities on issue OS offhe dote of mis deedj: Grid

riot to procure Gridher person to OPPly for, ocquire or dispose of Shores,including the Acceptonce Shores or enter info on ogreemenffo OPPly for,ocquire or dispose of Shores, including the Acceptonce Shores, other thanpursuonifo the conversion or exercise of ony Convertible Securities on issueOS offhe dote offhis Deed.

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5. TERMINATION OF OBLIGATIONS IN CLAUSES 2 AND 4

The obligotions set out in CIOuse 2 grid CIOuse 41erminole jinmediolely grid will ceoseto be of ony effect, without ony further oction being required of either pony, if:

the Tokeover Offer hos riot been mode by the End Dote or hoving been101mode is with drown:

the Tokeover Offer lopses or expires becouse o defeating condition hos notbeen saltsfied orwoived offhe end offhe Offer Period; or

the offers under the Tokeover Offer hove been deciored uricondifionol(orthe Bidder hos notified that o11 of the conditions hove been satisfied or

woived) Grid the Shoreho!der hod occepfed the Tokeover Offer in respectoff he ACcepfonce Shores,

Id1 o1 ony time before the Acceptonce Time, OSuperiorProposolis mode Gridthe Bidder not within 3 Business Doys offhe Superior Proposol hoving beenmode, mode on offer or Grinounced on intention to inoke o counter

proposo!.

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Pre Bld ACceplcnce Deed IATC!_26 July 20/6 5

6. SUBSTANTIAL HOLDER NOTICE

The Bidder ogrees Ihoiit will lodge with the AsX o "Form 604 - Notice of Chonge ofInterests of Subsfonfiol Holder"in relotion to the Acceptance Shores, of the limerequired by the Congorotions Act.

.-

7.1

NOTICES

Notices in writing

EDCh notice outhorised or required to be given to o Forty sholl be in legible writingGrid in English oddressed to the Pony's oddress set out in CIOuse 7.2 101 such otheroddress nominaled in occordoncewifh CIOuse 7.31.

Initiol oddress of Forties

The initiol oddress offhe Ponies shoil be OSfollows:

AlienlionAddress

7.2

Pony

CORREZE PTYLTD

A1montyIndustries Inc

LEVEL 3, 88WILLIAM STREET,PERTH WA 6000

7.3

100 King Street DennisLogonWest, Suite 5700 Director & CFO

ONToronto,IC7M5X

Conodo

Change of Address

EQch Porty inUV from time to time chonge its oddress by giving notice PUTSuont toCIOuse 7.1 to the other Ponies.

Receipl of notice

Any notice given under this Deed will be conclusiveIy deemed to hove beenreceived;

(0) in the coseofpersonoldelivery, on the octuoldoyof delivery;

Ib) ifsenf by moil, two 121 Business Daysfrom Grid including the doy of posting;or

CAROLINEGoossENs

7.4

E-mail

10hn. weiborn@rinl. coin. ou

Dennis, Lo on@A1mon

if sent by focsimile, when o focsimile confirmoiion receipf is receivedindicofing successful delivery; or

if sent by e-moil, when o delivery confirmofion report is received by thesender which records the time Ihof the e-moil wos delivered to fheoddressee's e-moil oddress funless the sender receives a delivery foilurenotificoflon indicoting thot the e-moil has riot been delivered to theaddressee),

bullffhe delivery or receiptis on o doy foot is not o Business Day oris offer 5:00 pinIQddressee'slimejitisregorded OSreceived of 9:00 Qin on the following Business Doy.

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PreB;d ACceplonce Deed IATCj_26 July 20/6 6

a. COSTSAND DUTY

101 Subject to CIOuse 81bj, eoch party must poy its own expenses incurred innegotiating, preporing, executing, completing Grid conying info effect thisdeed.

Ibj The Bidder muslindemnify the Shoreholder o901nsf, Grid musf poy theShoreholder on demond the Qinounf of, ony Duty that is poyoble on orinrelofion to this deed Grid the Ironsocfions that if contemplofes.

9.

9.1

GENERAL

Governing low undjurisdiclion

101 This deed is governed by the lows of Western AUStrolio.

Ibj EQch ponysubmifsfo the non-exclusive jurisdiction dine courts off hoist ofe,Grid of ony counthof ingy heor OPPeols from ony offhose courts, for anyproceedingsin connection with this deed.

Third party rights

If o provision of this deed jincluding CIOuse 3.11is expressed to benefit on Associofe ofthe Bidder 18eneficia, y), the Shorehdder ogrees Ihoffhe Bidder holds fhot benefitinits own copociiy grid OS trustee forthe Beneficiory, Grid ingy enforce this deed ontheir beholf Grid fortheir benefit.

Giving eflecllo this deed

EQch porty must do onylhing jincluding execute ony deed), Grid must ensure Ihofifsemployees Grid o9enfs do onyfhing jinduding execute ony deedj, thot the otherpony inoy reosonobly require 10 give full effecffo this deed.

Operation offhis deed

(0) This deed contoins the entire ogreemenf between the ponies obouf itssubject inoffer. Any previous under510nding, ogreement, representation orworronty relating 10 footsubjecf inciterisreploced by this deed grid hos nofurther effect.

Any provision off his deed which is unenforceoble or portly unenforceoble is,where possible, to be severed to the extent necessory to inoke this deedenforceoble, unless this would inoferiotIy chonge the intended effect off hisdeed.

Counterpqrfs

This deed ingy be executed in ony number of counterports.

Confidentiality

The ponies ogree to keep this deed Grid its contents tincluding the existence Gridterms of fhe Tokeover Offer) confidentiol untilfhe Bidder hos given o subsfonfiolholding notice to AsX Iwhich attoches o copy off his deed)in respect off he relevonfinterest Ihot fhe Bidder ocquires OS o result of fhis deed, or untilfhe Bidder hosotherwise announced the terms offhis deed to AsX OS port of its Grinouncement ofthe TokeoverOffer.

9.2

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9.6

Pre Bid ACceplonce Deed IATCj_26 July 20/6 7

SCHEDULE I

Part A-Shoreholder's Worronlies

THESHAREHOLDER10.

(0) Iffhe Shoreholderis o body corporate:

it is duly incorporoted Grid vondly exists under the lows of the PIOce(I Iof its incorporotion; Grid

it hos token o11 congorote oction Ihof is necessory to outhorise itsentry info this deed Grid cony out the Ironsocfions thof ifcontemplofes.

Ibj The Shorehdder hasfull power Grid Gumorily 10 enter info this deed ondperform its obligations under this deed.

This deed constitutes legol, valid Grid binding obligations offhe Shoreholder,enforceoble ogoinsffhe Shoreholderin occordoncewifhifsferms(exceptfothe extentlimifed by equifoble principles Grid lows offecfing creditors' rightsgenerollyj, subjectfo ony hecessory regisfroiion or poymenf of Duty.

Neither execufion of this deed by the Shoreholder northe conying out by ifoff he fronsocfionsthofthis deed contemplofes, does orwill:

in confrovene ony OPPlicoble low. regulation or outhon'sation;

till confrovene ony contract, underjoking orinsfrument binding on theShareholder or ony of its property; Grid

iftheShoreholderiso bodycorporofe, confrovene the Shoreholder'sconstitution or equivolenl constituent deeds.

THE ACCEPTANCESHARES

101 EQch offhe Acceptonce Shores ore fully poid up.

Ibl The Shorehdderis the owner offhe Acceptonce Shores with full power 10ironsfer good title to the Bidder (orifs Associate).

Upon occeptonce of o Tokeover Offer under CIOuse 2, the AcceptonceShores will be free from Encumbronces.

NOTRUST

The Shoreholderis either:

101 riot entering into this deed coitustee of ony fnJst orselflemenf; or

(bj entering into this deed OSIrusfee ofo Irusf orsefflemenfjthe Trustj Grid eochstolemenfin porogroph 4 below is flue Grid occurofe.

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PreBld ACceplonce Deed IATCj, 26Ju:y2016 8

I 3.

The following definitions OPPly in this porogroph 4:

111 Trust Deed meons the trust deed that esfoblishes Grid governs theTrust.

Iii) Trust Fund meons file OSsets of the Trust.

The Trustis duly constituted Grid hos nullerminofed, nor hosthe dote or onyevent occurred forthe vesting offhe Trust Fund.

The Shoreholderisfhe sole trustee off he Trust, The Shoreholder hos riot givenony notice of resignation Grid no oction hos been token to remove it ortoOPPoint on oddifionolirusfee off he Trust.

The Shoreholderhosfulllegol copocify Grid power under the Trust Deedfo:

(i I own the Trust Fund Grid cony on the business offhe Trust OSitis nowbeing conducted; Grid

enter into this deed Grid cony out the fronsocfions Ihof fhis deedcontemplotes,

OS trustee off he Trusl.

All cation Ihofis necessary under the Trust Deed or allow to:

GUIhorise the Shoreholder's entry info this deed Grid cony out the11 Ifronsoctions Ihotfhis deed contemplofes:

ensure that this deed islegol, VCIid Grid binding on it OSIrusfee off heTrust Grid odinissible in evidence ogoinslifin that copocity: Grid

enob!e illo properly cony on the business of the Trust,

hos been token.

The ShoreholdeTis entering info this deed OS port of the proper odininistrofionoffhe Trust, forthe coinmerciol benefit of the Trust Grid forthe benefit offhebeneficioties off he Trust.

Poll B - Bidder's Woiron!ies

14, THE BIDDER

The Bidder:(0)

Iil is duly incorporated Grid volidlY exists under the lows off he PIOce ofits incorporofion;

hostoken o11 corporate oction indris Itecessory to outhorise its entryInfo this deed Grid cony out the ironsocfions fhotif contemplofes;Grid

has full power grid outhorify to enter info this deed Grid perform itsobligofions under this deed.

This deed constitutes legol, votid Grid binding objigofions of the Bidder,enforceoble ogoinsffhe Bidder in occordonce with its terms Iexcepfto the

TRUST

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Pre 81d Acceptance Deed IATCj_26 July 20/6

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extent limited by equifob!e principles Grid lows offecfing creditors' rightsgenerollyj. subject to ony necessory regisfrofion or poymenf of Duty.

Neither execution of this deed by the Bidder northe conying ouf by it offheIronsocfionsfhoffhis deed contemplates, does orwill:

111 coatrovene ony OPPlicoble low, regutchion or authorisofion;

Oil controvene ony coalrqcf, underjoking orinsfrumenf binding on theBidder or ony of its properly; or

contrivene the Bidders constitution.Inn

Pre aid Acreplonce Deed INCj_26July 2116 10

SCHEDULE 2

Agreed BidTerms

Refer footfoched Heads Of Agreement.

Plead AGCap!once Deed IATC!_26 July 20/6 11

This binding heods of ogreemenfjHOA orfhis ogreemenf)is doted 26 July 2016.

This HOA sets out the terms Grid conditions upon which A1moniy Industries Inc.11ncorporofed in Congdo Grid listed on the TSX Venture BCChonge with the TSX-V codeAllj (Aimonfyl sholl ingke o tokeover bid to cicquire up to 100% of the issued fully paldordinory shores in the copifol of ATC Alloys Limited IACN 118 738 999) iASX code: ATA)INC)subjectfo CIOuse 4 loner).

A1monty Grid ATC Ieoch o party Grid together the pontes) ogree Grid ocknow!edge thotthis HOA is intended to be legolly binding. This HOA supersedes ony Grid o11 previouscorrespondence, ogreemenfs or underSIGndings between the porties. withoutlimitofion,the Binding Heods of Agreement between ATC Grid A1monfy doted 31 Moy 2016previous HOAjis terminaled with jinmediofe effect upon the dote of this HOA. Thepontes, without odinitting ony lidbilily, hereby mevocobly Grid uricondifionolly releoseGrid forever dischorge eoch other from o11 Grid ony CIOims, couses of oction, complaints,Iiobilities, costs Grid expenses tincluding in each cose those which ore present, future,octuol, contingent, known Grid/or unknown) fhot ony porfy or other person hos or mighthove in connection with or onsing in ony woy from the Previous HOA or the Ironsoctionsifcontemplofed.

Allreferences to $ in this HOA ore in AUSfrolion dollors unless of heMise stated.

BINDING HEADS OF AGREEMENT

I. Acquisition

2. Tqkeover Bid

Subject to the terms of this HOA, including Iwifhoutlimitofionj CIOuse 4, A1monfy will offer to ocquire up to100% of the issued fully poid ordinory shores in thecopifol of ATC IATC ShoresIfrom the holders of the ATCShores IATC Shoreholders) in consideration forthe issueof common shores in the copifol of Aimonfy IAImonfyShores)(Acquisition! by woy of o tokeover bid.

(0) Aimonfy ogreesfo inoke the Offer:by woy of on off-inorketfokeover bidIiiIBid) for oil ATC Shores under Chopfer6 of the Corporalions Act 2001 ICfhjICOrporolions ACfj subject to theConditions Grid otherwise in

occordonce with the terms of this

HOA;

for o11 ATC Shores which ore on issue

prior to the close of the period of theOffer 10fler Period), including for theovaldonce of doubt, o11 ATC Shoresissued during the Offer Period, nomoiler how issued; Grid

If the number of ATC Shores held by on ATCShareholder means Ihof their o99regofeentitlement to A1monty Shores under the Offer isriot o whole number, then ony froctioncilentitlement will be rounded up to the neoresfwhole number.

3.

2189-02/14B6100_?

Considero110n

try

to)

Subject to clause 4, the considerof ion in respect of theAC uisition shollbe I A1mon Shore foreve 10.38 ATC

4. Conditions

Shores iconsideroflon).

The Offer Grid ony coalrocf resulfing from theoccepfonce offhe Offer will be subject to fulfilment 10rwoiver) offhe following conditions:

(Mlnimum Acceptoncel: during the Offer(0)period, Aimonly hos received occepfoncesunder the Offer Ihof give it o relevonfinferesfinof legsf 90% Iby number) of'o11 of the ATCShores on issue on o fully diluted bosis;

Ib) Iconversion of ATC5c Nofes):the convertiblenotes held in ATC with o conversion price of$0.05 be dealt with such that:

of Ieosf 75% of these notes (by voluejlitore converted into ATC Shores prioriocompletion offhe Offer; Grid

In theremoiningnofesoreredeemedfortheir current volue;

ICI IconverslonofATC25c Notes);the convertiblenotes held in ATC with o conversion price of$0.25 be deoltwifh such that:

In o11eost 75% of these notes Iby volue)ore concelled in consideronon for the

receipt of convertible notes in A1monlywith equivolenf volue Gridon

otherwise on the terms coaloined in

Annexure B; grid

tii) the reinoining notes ore redeemed fortheir current volue;

Id) IconsenfofSiderianResourceCopitolLimiledj:Siderion Resource Copifol Limited ogrees toexfend the yepoymenf dole of the LoonAgreement if executed with ATC on or oround25 Februory 2014;

lei ITSX OPProvnll: OPProvolby the TSX VentureExchonge jTSX) for the quotation of A1monfyShores comprising the Considerof ion on the TSXfollowing completion offhe Acquisition;ICOpifol RaisingI: Aimonfy receiving, after thedote of this ogreement, cleared funds to thevolue of of ledsf Us$5.5 million PUTSuonf toequity, debt or hybrid copifolroising or onycombinofion offhose types of copifolroising;

IAPprovols): the objoining of o11 regu!o10ryOPProvols in order to o110w the Acquisition GridOffer to occur, including but riot limited to Ihofof the TSX and the AUSfrolian Securtlies &

Investments Commission:

10ther Approvalsj: the objoining by bothparties of o1/01her OPProvols necessory to o110wthe Acquisition Grid Offer to occur;

IMOlerl<lily odverse chonge): no event, malteror circumstance occurs which individuoll, or

(fj

?1894/2/14B6100_2

(9)

Ih)

fry

2

when oggregoted with o11such other events,mottors or circumstonces results in or couldreosonobly be expected to result in omolerially adverse chonge 10 the OSsefs,Iiobililies, finonciol POSifion, performonce,profitobility or prospects of ATC IATC MoferiallyAdverse Change);

IMOferlally odverse change of lowsj: nochonge in the lows of Vietnom, Conodo orAUSfrolio occurs which, octing reosonobly,would hove o moleriolly adverse effect onATC's materioiossefs IOCofed in Vietnom;

Ikj pre-Bid AcceptancesI: priorio inoking theOffer, A1monty hos received writtenconfirmofion from the holders of 19.3% of the

ATC Shores on issue fhoffhey intend to occepfinto the Bid; Grid

INC Prescribed Occurrence): during the periodfrom the dote offhe Public Announcement to

the end of the Offer Period finclusivej, noPrescribed Occurrence 10s defined in AnnexureA1 occurs in respect of ATC IATC PrescribedOccurrence),

flogefherfhe Conditions).

The Conditions ore conditions subsequent Grid do nofprevent o contracf resulting from acceptonce of theOffer from coining into effect, but ony breoch or non-fulfilment of ony of the Conditions entitles Ninonfy torescind ony confrocfs resulting from occepfonce of theOffer.

(1)

(1)

5. Woiver of Conditions

6. Aimonfyfundrqising

7.

The Conditions ore forthe benefit of A1monfy Grid inoyonly be woived by Aimonfy giving notice in writing toATC,

PublicAnnouncemenf

NOMifhsfonding the other CIOuses of this ogreement,the ponies ocknowledge Grid agree that, followingexecution of this ogreement, Aimonfy is permitted, ofAimonfy's sole discretion, to bise funds, includingtwithouf limitation) by issuing equity, debt or hybridsecurities (or ony combinofion of those forms of copitolroising) Grid the ponies ogree fhof doing so does riot,Grid will riot, breoch ony obligofion or creofe onyIiobility under this ogreemenf or otherwise.

218,42114B6100_2

(0) jinmediofely offer the execufjon of this HOA,ATC Grid A1monfy must eoch issue on ogreedpublic grinouncemenf respectively on the'AUStrolion Securities Exchonge IASX) and TSXipub"c Announcementjin relofion to this HOA,the Offer grid the Acquisition.

In this Public Announcement Grid, subject toreceipt of o Superior Proposol(defined inCIOuse 13 below), in following Grinouncements,ATC will:

Ibj

3

8. Exclusivily

11

111

Subjectfo CIOuse 11 below, ATC covenonts Grid ogreesfhof, from the dote of this HOA untilthe eonier of thedote which is 6 months offer the dote offhis HOA orfhe

dote that this HOA is terminaled in occordance with its

terms, IExclusivify Period), it sholl riot solicit, occepf onOPProoch in connection with or negotiate with onyother pony in relofion to, a Third Pony Proposol(OSdefined belowj or provide informofion or co-operate inony woy in connection with o Third Forty Proposol Gridmust notify Aimonfy OS soon OS procficoble followingreceipt of o Third Purly Proposol.

Third Forty Proposal meons ony expression of interest,proposo! or offer by any person 10ther Ihon from opony) to review ATC's offoils or to enter into onyironsocfion similor lo the Acquisition 10r ony port of ill orwhich might reosonobly legd to the proposedfronsoction contemplated in this ogreement notproceeding.

support the Offer Grid the Acquisition;Grid

use its reosonoble endeovours to jointlypromote the Offer, Bid Grid Acquisitionto ATC Shoreholders with Aimonfy.

9, "No shop" restriction

10. No folk grid no due

diligence

Subject to CIOuse 11, during the Exclusivify Period, ATCmust not, Grid must ensure Ihof none of its

representofives, solicit or invite the submission of onyenquiries, negotiations or discussions, which mightreosonobly be expected to encourage or lead 10objoining ony expression of interest, offer or proposolfrom any person in relation to on octuol, proposed orpotentiol Third Porty Proposol or coinmunicofe to onyperson on intention 10 do ony offhese things.

Subject to CIOuse 11. during the Exc!usivify Period ATCmust riot Grid must ensure thof its representatives doriot:

(0) directly orindirect!y enter info orporficipote inony discussions or negoficitions with ony personregording o Third Pony Proposolorwhich wouldreosonob!y be expected to encouroge o11eodto on octuol, proposed or potential Third PortyProposol;

Ibj gronlony other person any right oroccessfoconduct due diligence investigations in respectof ony one or more of ATC and its subsidiories,OS defined in the Congorofions Act, 1109efherthe ATC Group), or disclose or otherwiseprovide ony nori-public information in relotionto ony member offhe ATC Group with respectto, or which would reosonobly be expected toencouroge orleod to on octuol, proposed orpotentiolThird Porfy Proposol:enter info on o reemenf orron emenl or

218,02114861c0_2

C

4

I I .

understdnding in relation to, or which mightreosonobly be expected to encouroge or Ieodto, on octuol proposed or potentiol Third FortyProposol; or

Idj communicate bonypersonon intention to doonylhing referred to in PODgrophs 101, Ib) orIC) obove,

even if the octuol, proposed or potential Third PartyProposal wos not directly solicited, invited, encouroged,or mingled by ATC or ony of its representotives or theperson hos publicly Grinounced the Third Forty ProPCsol.

Exceptions

12.

CIOuses 8, 9 grid 10 do riot prohibit ony oction ormostion by ATC or any of harepresentofivesif:

(0) ATC ism receiptofo SuperlorProposoljdefinedin CIOuse 13 belowj; orthe board of directors of ATC determines,(b)acting in good foilh offer receiving writfenodvice from its external odvisers, Ihof to dootherwise constitutes or would be likely toconstitute, o breoch of ony of the fiduciory orslotufory duties offhe directors of ATC.

Mornfalning Status Quo Other Ihon OS contemplofed in this ogreement grid inthe ordinory course of ATC's business, OS prevbuslyodvised in writing to Aimonty prior to execution of thisHOA, or with the prior written OPProvol of A1monfy, ATCogrees fhot, during the Exc!uswily Period, ATC sholl riot101 enter info ony moteliol contract or incur ony

material liability;

Ibj decioreonydividends;

ICi voryits copitolstrucfure jinc!uding by the issueof shores or securities convertible info shores);or

Id) couse to occur by oct or omission on event orseries of events whether related or not which

inoy hove, from the perspective of A1monty, oinoferiol odverse effect on the Offer, theAcquisition or ATC's business, OSsets orfinonciolcondition.

13. Break Fee 101

218,02114B6!co_2

The parties ogree Ihof:Iii the Offer will deliver significonf benefits

to both ponies;

the Breok Fee Idefined belowlis ogenuine Grid redsonoble pre-esfimofeof the costs grid losses which A1moniyexpectsfo incurin connection with theOffer Grid if is not o pre-condition tothe Breok Fee fhot Aimonfy hosoctuolly incurred those costs or lossesor fhof if be oble to prove fhof if hosdoneso;

In

5

fuji

UVj

the Bredk Fee is reosonoble in thecontext offhe Offer;

should ATC or the inGionfy of itsdirectors occepf or recommend oSuperior Proposal, ATC will be noble toimmediately pay to Aimonty o breokfee of $100,000 IBreok Feel GridA1monfy may, of Aimonfy's solediscretion, terminote this ogreement bynotice to ATC of ony time of Ier Ihofoccepfonce recommendofionor

occurs;

If, despite the receipt of the SuperiorProposol, A1monfy becomes the legolgrid beneficiol holder of riot less thon50.1% of ATC Shores OS o result of theironsfer of ATC Shores occepfed underthe Offer, Aimonly must repoy to ATCony Qinounf received OS O Breok Feepursuontfo this CIOuse;

For the ovoidonce of doubt, thepoymenf offhe BredkFee releoses ATCfrom ony CIOim or oction by Aimontyfor ony doino9es, loss or expenseGlising from, or in connection with, theferminofion of this ogreemenf due tothe occeptonce of o SuperiorProposol.

Superior Proposql meons o bono fide Third PonyProposol received offer the dofe of this ogreemenfwhich the ATC boord:

(0) octingingoodfoithondreosonobly;Gridin order to satisfy whot the ATC boordIb)reosonobly considers to be its fiduciory orslotufory duties offer consultofion with exfernolodvisers,

determines is more fovouroble to its shoreholders 10s owhole) Ihon the Offer froking info occount, Qinongother things, o11 legol, finonciol, regulofory,condition only, certointy, timing Grid other OSpecfs of theThird Pony Proposol Grid the identify of the offero11.

Ivj

tvi)

14. Further Assurqnce

I5. Governing Law

216,02114B, 100_2

EQch PGIfy sholl sign Grid execute o11 deeds Griddocuments Grid shall do o11such Gals ond things OS inoyreosonobly be required by the other pony to effectiveIycony oat Grid give effectfo the terms Grid infentions ofthis HOA,

The ogreemenf constituted by this HOA show begoverned by grid consfrued in occordonce with theow from lime to time in Western AUStrolio. The ponieso~ ree to submit to the nori-exclusive 'unsdicfion of the

6

~"~~I

I6, Vqriofion

17. Assignment

18.

Courts of Western AUSfrd!io dhd~the Courts Which~hedr

OPPeols from those Courts.

Termination

No modification or otterotion of the terms of this HOA

shoji be binding unless mode in wrtfing dotedsubsequentfo the dote of this HOA Grid duly executedby the pontes

Neither pony inoy OSsign ony offhe rights or obligotionsconferred by this ogreemenf withoutfhe consent of theother.

This agreement outomalicolly terminates on the eorlierof:

101 the dote on which the Offer Period ends: ond

Ib) the dote which is 6 months offer the dote offhisogreemenf,

orsuch other dote OS A1monfy Grid ATC ogree in writing.A1monfy inoy o1so terminate this ogreement o1 ony timeby notice in writing to ATC it

on ATC Prescribed Occurrence occurs; or(0)

Ibj on ATCMoteriollyAdverseChongeoccurs.

In the event of terminotion of this ogreemenf pursuonfto this CIOuse or CIOuse 13, this ogreemenf will hove nofurther effect, other fhon in respect of ony Iiobilify forony Gritecedent breoch of this ogreemenf, providedthotthis clause 18 Grid CIOuse 13 survive terminofion,

19. Costs

20. Notices

EQch porly shall beor their own legol costs Gridexpenses of negotiating, preparing Grid executing thisHOA grid ony other instrument executed under theHOA.

Aimonfy sholl be responsible for poying ony stomp dutyCSSessed on orin respect offhis HOA Grid the Bid.

EUCh notice outhorised or required to be given to oparty sholl be in writing Grid inoy be deliveredpersonolly or serif by emoil or properly oddressedprepoid moilin eoch cose addressed to the porty Giftsoddresssef out below:

In the cose of ATC:

Address: Level1, 33 Ord Streetpornck. burke@of colloys. coinErnoil:

Attention: Pornck Burke

in the cose of Aimonfy:

100 King Street West, Suite 5700Address:

Toronto, ON M5X IC7 Curiododennis. logon@dimonfy, coinErnoil:

Iewis*block@o1monty. coinAttention: Lewis Blockond DennisLogon

21.

2169,02,148,1002

Severonce If ony provision of this ogreemenf is invalid grid notenforceoble in occordonce with its terms, o11 otherrovisions which ore self-susfoinin qnd co obje of

7

I

-~.-.-.---~~~^---^.-~~.~-.-

. 22 .74,113 ', OA troy be execuied in o1.1 rumcer:court, e:certs, each of .r, tier: */, hea execu!e, rind. deli, .5160 b me c, *:a early 5,101! constitute on on, incl,' CLI, 0:; CG:In:er, >CFS together 5.01' consi;i=, re GPe ~*d

' ; '!hesome. g, =ame*:--.-~.----.-^--.-

Counleiporls

it . e Iernis o:16 cor;c i;=-ns sei o. 1 9.0\, e ore ecc. eHt0, .,*, o1*~SE e, :e, -in in' 1-10 i'?;^- CCP, Godele piece below.

EXECUTED OS o deed c:y ATC A"oyslimited

ACN 118 738 999;* c:=CDPGar:CG .\,:h sec!;::ri :27 oil?aCorporaf, ons AC* 2001;Cm::

I5690. ale errorseine, ;! vft;tout reg:>, d 10 IF!e ;avo;;d Iprovision. 3.01, ;::e one continue 10 t's Yaki o, \c; ;0'"e;t!I;

; ;n ocCordor\::e v, Ith Iris;, !err:s.,-^-~-^-

I- ,>,.,^^^

Sign. ;u!e '0; 6.10,

I'A7, <*<~ 8,41< 6'^-..~.~--.-.-.-.- -

', Grits o1 direc:or

EXECUTED OS a deed by AimontyInduslries Inc. (Incorpo, aled in Congdo):!\ DCco. 'cor'ce \\*Ih its cons:;Iue, *:

,

CoCuntenis:

^---.--..-~.-

Signetu, e o1c;rec!or

.,.^

of I

--.-^-.--,

C*'.

--..---

39.0tL;re of airedoilcom, 3:1ysecretcry'

,,,,,, ^, I, Î,None of directei

I~"~'~~'<~ ;^.^*U~.^:*dine o:0:!ec:0, /'coinoo, v secretory'

,

----.-~----

AN NEXURE A - PRESCRIBED OCCURRENCES

Prescribed Occurrence meons ony of the following:

101 ATC converts o11 or ony of its shores into 0 101ger orsmoller number of shores,including under section 254H of the Corporalions Act;

Ib) ony member offhe ATC Group resolves to reduce its shore capitolin onywoy orreclossifies, redeems errepurchoses any of its shores;

ICj ony member offhe ATC Group enters into o buy-bock ogreemenf orresolvesfoOPProve the terms of o buy-bock ogreemenf, including under section 257C!11 orsection 2570jl) offhe Corporofions ACf:

Idj ony member offhe ATC Group issues shores, convertible notes orofhersecuriliesor gronfs on option or performonce right over ony shores, convertible notes orother securities tincluding equity securities, debt securities or convertiblesecurities) 10r ogrees to in oke such on issue or gronfj other than the conversionof convertible securities the existence of which hos been foirly disclosed toAimonfy before the dote offhis ogreement;

ATC omends or proposes to omend its constitution;

ony member offhe ATC Group creches or ogreesfo creole ony encumbronceor security interest overthe whole or ony port of its business, property, OSsets orunderjoking;

191 on order!of o courtorofherwisejoropplicofion is mode oro resolution is possedforthe winding up of ony member offhe ATC Group;

on odininistrctfor, liquidotor, provisionolliquidofor, receiver or receiver Gridmonogeris OPPointed in respect of ony member offhe ATC Group orthewholeorony port of the OSsets or underjoking of ony member offhe ATC Group, or anymember offhe ATC Group executes o deed of coinponyorrongemenf;

ony member of the ATC Group ceoses to cony on business or is deregisteredunder the Corporations Act or other OPPlicoble legislotion in force outside ofAUStro!io:

ony member offhe ATC Group entersinfo ony unusual or obnormol controcf orcommitment which is outside the ordinory course of business Grid which couldreosonobly be expected to:

11 chonge the rioture offhe business conducted by the ATC Group; or

tiny hove o materiolodverse impocf on the business conducted by the ATCGroup;

Ik) ony member offhe ATC Group entersinfo o coatrocf orcommitmenfresfroiningony member offhe ATC Group from competing with ony person or conductingoctivifies in ony in orkef;

ony member offhe ATC Group entersinfo or otherwise becomes o party to, onymaterjoltronsoction with o related party losthofterm is defined in Chopfer 2E ofthe Congorotions Adj of ATC 10therfhon between ATC grid o direct orindirecfwholly owned subsidiory of ATC);

lei

in

to)

Ii)

In

I I I

2189C2/148,100_? 9

jin) ony member offhe ATC Group deciores, poys, ordeferminesfo be poyoble onydistribution, bonus or other shore of its profits or OSsets Iwhefher by woy ofdividend, copifolreduction or otherwise Grid whether in cosh orin specie), otherIhon the declorolion Grid poymenf by ony subsidioryof ATC of a dividend wherethe recipient offhot dividend is ATC or o whollôwned subsidiory of ATC:

inI ony member offhe ATC Group disposes of, oroffers or ogreesfo dispose of, onymateriol business, o55ef, joint venture interest, entity or underjoking tor onyinterest in o business, asset, joint venture, entity or undertaking) or inokes onGrinouncemenfin felonon to such o disposal, offer orcgreemenf;

101 onyinemberoftheATCGroup:

11 enters info ony finoncing orrongemenf or commitment or ogrees toextend, repoy or moleriolly omend ony existing findncing orrongementor commitment or

tm guoronfees, indemnifies or provides security forthe obligations of onyperson or entity other Ihon o member offhe ATC Group; grid

IPI ony member offhe ATC Group ogrees or announces on intention to toke ony ofthe octionsreferred to in porogrophs 10/10 (0) 0bove,

provided that o Prescribed Occurrence will riotinclude ony malter:

Iq) required orpermitfed to be doneorprocured by ATC under the HOA;

In required to be done OS o result of the Bid;

ISI required to be done by the ATC board of directors in order to comply with thefiduciary orstotufory duties of its directors;

foirly disclosed by ATC to A1monfy in writing prior to execution offhis HOA:

directly resulting from ony octions token (or omitted to be token) following owritten request from A1monfy orwifh A1monfy's priorwritfen consent or

tvj OPProvedinwritingbyAlmonfy.

(1)

Iu)

218,02114B6100_? 10

ANNEXURE B - TERMS OF NEW ALMONTY CONVERTIBLE NOTES

Issuer:

Security:

Term:

Offering Price:

A1monfy industries Inc. ICOmpanyl(TSX-V: Allj,

Interest

Non-Ironsferoble secured convertible debentures ItheDebenturesjsubjectfo the terms Grid conditions below.

Twelve 1121 monthsfrom the dote of issue.

Optiono1Conversion:

Nil. The Debentures ore provided in exchonge forconvertible notes held in ATC Altoys Limited pursuont to aHeods of Agreement if hos entered into with the Coinponydoted 26 July 2016.

Hold Period:

The prtncipol amount of the Debentures outsfonding fromtime 10 time shoji beGrinferesf of o rote of 5.0% per Grinum,poyable semi-Grinuol!y, on Januory I Grid July I eoch yeorGrid the moronfy dote.

The holder offhe Debentures inoy elect of its sole option onor before the maturity dote to convert the outsfondingprincipal Qinounf of the Debentures, info common shores ofthe Coinpony of o conversion price of CAD$0.55 pershore.

Resincfion on Future155uonces:

OfferingJurisdictions:

A prtvote PIOcemenf hold period of four 141 months willOPPly in Curiodo to the Debentures Grid ony underlyingcommon shores issued during such period. Additiono1resolerestrictions inUV o1so OPPly in other jurisdictions for investorsresident outside Congdo,

There ore no restrictions on further offerings by theCoinpony.

The Debentures inoy be issued in Congdo Gridinfernofionolly (outside the U. S. ) to "accredited investors" 10sdefined in Conodion Notiono11nstrument 45- 106Prospectus Exemptionsj or other jurisdictions, of theCoinpony's discretion, on o private PIOcement bosis,subject to coinplionce with OPPlicoble securities low GridUVoiloble private PIOcemenf exemptions in the jurisdictionsof investors resident in AUSfrolion ond such other jurisdictionsOS inoy be ogreed upon by the Coinpony. The Debentureswill be issued pursuonf to o subscrlpfion ogreemenfcontoining terms fypicolfor Ironsoctions of this rioture Gridin form Grid substonce sonsfocfory to the Company Gridthe holder offhe Debentures oding reosonobly.

Listing:

Voting:

The Debentures will riot be listed for troding grid will riot beironsferoble. As o condition to closing, the Coinpony willOPPly for Grid receive condition o1 0cceptonce forthe listingoffhe common shores to be issued upon the conversion ofthe Debentures on the TSX Venture Exchonge ITSXVj. Thereis currently no inorkef for the Debentures Grid none isexpected to develop.

2189-031,861002

The Debentures will riot cony o rightfo vote of meetings ofshoreholders offhe Coinpony.

,

Security und Runk:

Terms and Conditionsof Debentures:

The Debentures will be unsecured Grid shall in o11respecfsronk port possu with oil other unsecured obligations of theCoinpony.

Documentqfion

Approvals:

This term sheet is o summory of the prtncipol terms Gridfeatures offhe Debenfures. which will be governed by theferms Grid conditions of a debenture certificate. In theevent of o conflict between this summory grid thedebenture certificofe, fhe debenture certificofe shollprevoil,

Un To be issued pursuonf to the subscription ogreement Griddebenture centficote with the holder of the Debentures,subjectfo TSXV Grid third pony OPProvols, in oddifion to theOPProvol offhe Coinpony's boord of directors,

218,0211"8,1002 2

EXECUTED OS o deed,

EXECUTED by CORREZE PTY LTD IACN 167 851274)in accordonce with section 127 of the

CorporalbnsAct q9.11Cth):I'

SI no ure of director

CAI2.0 L. \"I'

Nome of director

I^^. , -^~., I, _..'':1"hj!or ofîth ss ~ ' """""114, ^,^_,*fj^~ "At I, Â--I>^,^'I

SIGNED in the presence of:

606 SSt^*" S

SignotUre of director/coinpony secretoryIPIeose delete OS OPPlicoble)

Nome of witness

,

,._I IA-

EXECUTED BYALMONTY INDUSTRIES INC

(INCORPORATED IN CANADA)in occordoncewith its constituent documents

Nome of director/coinpony secretoryIPI60se delete OS OPPlicoble)

",( A

Grid PIOcgo incorporofion:

. It. __-I "."LDP

.

Director

Director/Secretory

.

,

Pre Bid ACceplonce Deed IATC)_?, July to16

Director

Directorsecrefory

12

,

Notice of change of interests of substantial holderNotice of change of interests of substantial holder There was a change in the interests oilhe substantial holder on The previous

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