ASTRAL RESOURCES NL — Capital/Financing Update 2021

Mar 30, 2021

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ANGLO AUSTRAL I AN RESOURCES NL

ACN 009 159 077

ASX / NEWS RELEASE

31 March 2021

Unmarketable Parcel Sale Facility

Anglo Australian Resources NL (ASX: AAR) (the Company ) announces that it has established an unmarketable parcel sale facility ( Sale Facility ) for shareholders who hold fully paid ordinary shares in the Company ( Shares ) with a market value of less than A$500, and whose registered address is in Australia. The Sale Facility will allow those shareholders to sell their Shares cost effectively, while also assisting the Company to reduce the costs associated with servicing smaller Shareholdings. The Company has established the Sale Facility for the following reasons:

• To give holders of an unmarketable parcel of Shares (less than A$500) the opportunity to sell their shareholding, without incurring brokerage or handling costs which, in proportion to the value of their investment, may otherwise render a transaction of this size unattractive or uneconomic.

• To reduce the expense and administration involved in maintaining shareholders with small Shareholdings. Based on the Company’s closing share price on Tuesday 30 March 2021 ( Record Date ) of $0.098, the Company has approximately 2,946 shareholders of which approximately 38% hold less than A$500 in Shares (an unmarketable parcel of fully paid ordinary shares is defined in the ASX Listing Rules to be less than A$500).

Sale Facility

Shareholders who at 5.00pm (WST) on the Record Date held Shares with a market value of less than A$500 (that is a parcel of less than 5,102 Shares based on a Share price of $0.098 on the Record Date) will receive a letter from the Company, in the form attached to this announcement, together with a Share Sale Election Form.

The letter explains that, unless those shareholders notify the Company that they wish to retain their Shares by submitting the Share Sale Election Form, or they hold more than A$500 in value of the Company’s shares at the closing date, those Shares will be sold on-market, and the proceeds remitted to them free from brokerage and handling fees.

Those shareholders who hold less than a marketable parcel and want to retain their Shares must return a completed Share Sale Election Form or make their own arrangements so that they hold more than A$500 in value of the Company’s Shares before the Sale Facility closing date. Otherwise the Shares will be sold.

The price at which Shares will be sold under the Sale Facility will be determined by market conditions and is not fixed. The price received may be different from the market price prevailing at the time.

Anglo Australian Resources NL

ASX: AAR

Suite2, 6 Lyall Street | South Perth WA 6151 | T: +61 8 9382 8822 | E:info@anglo.com.au | www.anglo.com.au

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Key Dates[1]

Key Dates1
Unmarketable Parcels Record Date	5.00pm (WST) Tuesday 30 March 2021
Unmarketable Parcel announcement to ASX	Wednesday 31 March 2021
Letters sent to shareholders holding Unmarketable Parcels	Tuesday 6 April 2021
Closing Date for receipt of Share Sale Election Form	5.00pm (WST) Tuesday 18 May 2021
Estimated Unmarketable Parcels payment date	As soon as practicable after Tuesday 18 May 2021

Documentation in in relation to the Sale Facility will shortly be sent to all shareholders with a registered address in Australia who held less than A$500 worth of shares on the Record Date.

If shareholders have any questions in relation to the Sale Facility, please contact the Company’s share registry, Automic on 1300 288 664 or +61 2 9698 5414.

This announcement has been authorised for release by the Managing Director, Marc Ducler.

For further information: Investors: Marc Ducler Managing Director Anglo Australian Resources +61 8 9382 8822

Media:

Nicholas Read Read Corporate +61 419 929 046

1 These dates are indicative and may change, subject to compliance with applicable legal and regulatory requirements.

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Dear Shareholder

NOTICE OF INTENTION TO SELL YOUR UNMARKETABLE PARCEL OF SHARES IN ANGLO AUSTRALIAN RESOURCES N.L.

We are writing to advise you that Anglo Australian Resources N.L. ( Company ) has established a share sale Facility ( Sale Facility ) for shareholders that hold less than A$500 in value of the Company's shares ( Unmarketable Parcel ) as at 5.00pm (WST) on Tuesday 30 March 2021 ( Record Date ).

The Company is offering this Sale Facility to assist holders of Unmarketable Parcels who might otherwise find it difficult to sell their shares without incurring brokerage or handling costs, due to the small size of their holdings.

The Company’s registry records show that you held an Unmarketable Parcel based on the closing price of $0.098 on Tuesday 30 March 2021. Unless you advise the Company by 5.00pm (WST) on Tuesday 18 May 2021 ( Closing Date ) that you do not wish to sell your shares, the Company intends to sell your shares through the Sale Facility in accordance with articles 2.11 and 2.12 of the Company's constitution.

The Company will pay all costs of the sale for holders of an Unmarketable Parcel who use this Sale Facility, excluding tax consequences from the sale which remain the shareholder's responsibility. The sale proceeds will be determined once all the shares under the Sale Facility are sold. You will receive your proportionate share of the sale proceeds, based on your initial shareholding, from all shares sold under the Sale Facility without any deduction for brokerage or handing costs.

The price that you receive for your shares under the Sale Facility will be determined by when and how the shares are sold. The Company may sell your shares on market or in any other way it considers fair and reasonable in the circumstances. If the shares are sold on market the price will depend on a number of factors, including market conditions at the time of sale.

What do you need to do if you wish to sell your Unmarketable Parcel?

You do not need to take any action. Your shares will be sold through the Sale Facility after the Closing Date and the proceeds of the sale will be paid to you.

If you have previously provided the Company with details of an account with an Australian financial institution, your sale proceeds will be paid in Australian dollars by direct credit into that account. The Company encourages you to notify it of your account details by completing Step B of Option B of the enclosed Share Sale Election Form and return it before the Closing Date, being 5.00pm (WST) on Tuesday 18 May 2021. In all other circumstances, sale proceeds will be paid in Australian dollars by cheque.

By refraining from taking any action, you will be deemed to have irrevocably appointed the Company as your agent:

• to sell all your shares at a price to be determined by when and how the shares are sold and without any cost being incurred by you; and

• to deal with the proceeds of the sale as detailed in the attached Information Sheet.

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What do you need to do if you wish to retain your Unmarketable Parcel?

If you wish to retain your shares, you must:

• complete and return the attached Share Sale Election Form before the Closing Date, being 5.00pm (WST) on Tuesday 18 May 2021. Alternatively, you may visit https://Investor.automic.com.au/#/home before the Closing Date to submit your intention to retain your existing holding; or

• increase your shareholding so that you hold more than A$500 in value of the Company’s shares at the Closing Date.

Key Dates

A summary of the key dates in relation to the Sale Facility are as follows:

Unmarketable Parcels Record Date	5.00pm (WST) Tuesday 30 March 2021
Unmarketable Parcel announcement to ASX	Wednesday 31 March 2021
Letters sent to shareholders holding Unmarketable Parcels	Tuesday 6 April 2021
Closing Date for receipt of Share Sale Election Form	5.00pm (WST) Tuesday 18 May 2021
Estimated Unmarketable Parcels payment date	As soon as practicable after Tuesday 18 May 2021

The Company makes no recommendation as to whether you should participate in the Sale Facility.

If you need help deciding what to do or if you require information regarding the financial, legal or tax consequences of participating in the Sale Facility, you should consult your legal, financial, taxation or other professional adviser.

The attached Information Sheet provides further information about the Sale Facility. Please read it carefully and if you have any questions, please contact the Company’s share registry, Automic on 1300 288 664 or +61 2 9698 5414.

Yours sincerely

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Brendon Morton

Company Secretary

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INFORMATION SHEET – ANGLO AUSTRALIAN RESOURCES N.L. UNMARKETABLE PARCEL SALE FACILITY

1. What is the Share Sale Facility?

The Share Sale Facility ( Sale Facility ) is a share sale arrangement which Anglo Australian Resources N.L. ( Company ) has established to sell shares held by its shareholders who hold shares in the Company valued at less than A$500 ( Unmarketable Parcel ) as at 5.00pm (WST) on Tuesday 30 March 2021 ( Record Date ).

2. Why is the Sale Facility being offered?

The Company is providing the Sale Facility to allow shareholders with a small size holding to dispose of their shares without incurring brokerage or handling costs. Further, by making the Sale Facility available, the Company expects to reduce the administrative costs associated with maintaining Unmarketable Parcels.

3. What is the amount that I will receive for sale of my shares?

You will receive your proportionate share of the sale proceeds, based on your initial shareholding, from all shares sold under the Sale Facility without any deduction for brokerage or handing costs.

The price that you receive for your shares under the Sale Facility will be determined by when and how the shares are sold. The Company may sell your shares on market or in any other way it considers fair and reasonable in the circumstances. If the shares are sold on market the price will depend on a number of factors, including market conditions at the time of sale.

4. Does the Company have the right to sell my Shares?

The Company has the right under articles 2.11 and 2.12 of its constitution and ASX Listing Rule 15.13 to sell Unmarketable Parcels of shares, unless those shareholders elect to retain their shares by returning their Share Sale Election Form by 5.00pm (WST) Tuesday 18 May 2021.

5. What are the benefits of selling through the Sale Facility?

Shareholders who utilise the Sale Facility will have their shares sold without incurring any brokerage or handling costs. Any tax consequences arising from the sale of your shares will be your responsibility.

6. What should I do if I wish to sell my Unmarketable Parcel of shares?

If you wish to sell your shares without incurring brokerage or handling costs, you can either:

• complete the enclosed Share Sale Election Form, notifying the Company of your election to sell; or

• alternatively, simply refrain from taking any action.

By refraining from taking any action, you will be deemed to have irrevocably appointed the Company as your agent:

• to sell all your shares at a price to be determined by when and how the shares are sold and without any cost being incurred by you; and

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• to deal with the proceeds of the sale as detailed in this Information Sheet.

If you complete the Share Sale Election Form notifying the Company of your election to sell, or you take no action, your shares will be sold through the Sale Facility after Tuesday 18 May 2021 ( Closing Date ) and your portion of the proceeds received from all of the shares sold under the Sale Facility will be paid to you.

7. What should I do if I wish to retain my Unmarketable Parcel of shares?

If you wish to retain your existing holding, then you must either:

• lodge your election online at https://Investor.automic.com.au/#/home or correctly complete, sign and return the enclosed Share Sale Election Form so that it is received by the Closing Date. Please read the instructions on your personalised Share Sale Election Form carefully before completing it; or

• arrange to have multiple holdings consolidated into one single holding, which has A$500 or more in value of the Company’s shares on the Closing Date; or

• make your own arrangements outside this Sale Facility to purchase additional shares so that you are the registered holder of A$500 or more in value of the Company’s shares on the Closing Date. For a purchase to be an effective notification that you wish to retain your shares, any additional shares purchased must be registered by the Closing Date under the same name and address and with the same holder number (SRN or HIN) as set out in this letter.

If you successfully take one of these steps, the Company will not be entitled to sell your shares under this Sale Facility.

8. When will my shares be sold under the Sale Facility?

The sale of shares under the Sale Facility is expected to occur as soon as practicable after the Closing Date.

9. What if I purchase more shares in the Company?

If you increase your shareholding so that it is valued at A$500 or more by the Closing Date, the Company will not sell your shares under the Sale Facility.

10. When and how will I receive my sale proceeds?

If you have previously provided the Company with details of an account with an Australian financial institution, your sale proceeds will be paid in Australian dollars by direct credit into that account. The Company encourages you to notify it of your account details by completing Step B of Option B of the enclosed Share Sale Election Form and return it before the Closing Date, being 5.00pm (WST) on Tuesday 18 May 2021. In all other circumstances, sale proceeds will be paid in Australian dollars by cheque.

The proceeds to which you are entitled will be remitted to you as soon as practicable after the sale.

Important Notes

This Information Sheet and accompanying letter do not constitute advice, nor a recommendation to buy, sell or hold shares in the Company, nor that the Sale Facility is the best way to sell your shares.

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If you are in doubt about what to do, you should consult your legal, financial, taxation or other professional adviser.

The Company reserves the right to change any of the dates referred to in the accompanying letter, this Information Sheet or the Share Sale Election Form by written notice to ASX. The Company may, before a sale of shares is completed under the Sale Facility, suspend or terminate the Sale Facility, either generally or in specific cases.

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Anglo Australian Resources N.L. | ACN 009 159 077

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Return your Form:

By Mail:

GPO Box 5193, Sydney NSW 2001

For All enquiries

1300 288 664 (within Australia) +61 2 9698 5414 (international)

[EntityRegistrationDetailsLine1Envelope] [EntityRegistrationDetailsLine2Envelope] [EntityRegistrationDetailsLine3Envelope] [EntityRegistrationDetailsLine4Envelope] [EntityRegistrationDetailsLine5Envelope] [EntityRegistrationDetailsLine6Envelope]

No. of Securities Held at 5.00pm (AWST) Tuesday 30 March 2021: [AARUMP21WKHolding]

ASX Security Code: AAR

Holder Reference (SRN/HIN): [HolderNumberMasked]

SMALL SHAREHOLDING SALE FACILITY : SHARE SALE ELECTION FORM

IMPORTANT: YOUR ELECTION MUST BE RECEIVED BY NO LATER THAN 5:00PM (WST) ON TUESDAY 18 MAY 2021.

This is an important document and requires your immediate attention. This document should be read in conjunction with the enclosed shareholder letter. If you are in any doubt as to how to deal with this form, you should consult your professional advisor.

This is an important document and requires your immediate attention. This document should be read in conjunction with the enclosed shareholder letter. If you are in any doubt as to how to deal with this form, you should consult your professional advisor. Option A: Elect Online (Recommended) Visit https://investor.automic.com.au/#/home To elect online, simply scan the barcode to the right with your tablet or mobile device or enter the above link into your browser. Instructions lodging your election online and accessing this portal are provided in the section overleaf.  It’s fast and simple: Electing online is very easy to do, it eliminates any postal delays and removes any potential risk of it being lost in transit.  It’s secure and confirmed: Electing online provides you with greater privacy over your instructions and provides you with confirmation that your Election has been successfully processed. Option B: Paper Election p 1: 1: Make your election below:your election below:our election below: A PLEASE TICK THE BOX TO INDICATE YOU WISH TO RETAIN YOUR SHARES B REQUEST FOR DIRECT CREDITING OF PAYMENTS – SELL YOUR SHARES Please provide your EFT details below. BSB Number Account Number DO NOT USE YOUR CARD NUMBER If you are unsure of your account or BSB - number, please check with your bank, building society or credit union. Name in which account is held ( e.g.: John Smith ) Note: Do not complete section B if you wish to retain your shares. By completing your details online OR above you are agreeing to the sale of your shares even if you tick the above box in section A.

Option A: Elect Online (Recommended)

Option B: Paper Election

Step 1: 1: Make your election below:your election below:our election below:

Step 2: Provide your contact details:

Telephone Number Contact Name (PLEASE PRINT) Email Address SUPPORT YOUR COMPANY: By providing your email address, you elect to receive all communications despatched by the Company electronically (where legally permissible).

Step 3: Sign and return the form in accordance with the instructions provided:

I/We authorise you to act in accordance with my/our instructions set out above. I/We acknowledge that these instructions supersede and have priority over all previous instructions relating to payments to which I/we am/are entitled to be paid in cash.

Individual or Securityholder 1 Securityholder 2 Securityholder 3

Sole Director or Sole Director & Director Sole Company Secretary

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Director/Company Secretary

INSTRUCTIONS FOR COMPLETION OF THIS FORM

ELECTION OPTIONS

A: RETENTION OF SHARES

If you wish to retain your shares, please place a tick in the box provided. Should you validly sign the form but fail to place a tick in the box, it will be at the Company’s discretion as to whether or not it is your intention to retain your shares.

B: SELLING YOUR SHARES - REQUEST FOR DIRECT CREDITING OF PAYMENTS

If you wish to sell your shares, please provide your bank details in this section. Do not complete this section if you wish to retain your shares. If you provide your direct credit instruction details, you are agreeing to the sale of your shares even if you have placed a tick in Box A.

SIGNING REQUIREMENTS

Where the holding is in one name, the Shareholder must sign.

Individual : Where the holding is in one name, the Shareholder must sign. Joint holding : Where the holding is in more than one name, all of the Shareholders must sign. Power of Attorney : If any signatory signs under Power of Attorney, please attach an originally certified photocopy of the Power of Attorney to this Form when you return it.

Companies : To be signed in accordance with your Constitution. Please sign in the box which indicates the office held by you. Estates: If any signatory signs in the capacity of Executor/s, please attach to this Form when you return it, a certified photocopy of the Probate or Death Certificate together with the Will. LODGING YOUR SHARE SALE FACILITY FORM IMPORTANT! Election Forms cannot be returned by fax or email. Your Acceptance Form must be returned via one of the return methods provided below. Due to recent changes to delivery times by Australia Post, standard delivery may now take up to ten Business Days, or longer from regional areas. Shareholders should bear this in mind when returning Election Forms using Australia Post. ONLINE Visit https://investor.automic.com.au Login with your existing Username and Password Once you are logged in, select “Offers” from the left-hand vertical menu and follow the prompts. If you have not yet established an online account, visit https://investor.automic.com.au/#/signup 1. Select "Anglo Australian Resources NL" from the dropdown list in the Issuer Name Field 2. Enter your Holder Reference (SRN/HIN) as shown on the top of this letter 3. Enter your postcode OR country of residence (only if outside Australia) 4. Tick the box "I'm not a robot" and then select "Next" 5. Complete the prompts to set up your username and password details Once you are logged in, select “Offers” from the left-hand vertical menu and follow the prompts. BY MAIL Fargo Enterprises Limited – Small Shareholding Sale Facility C/- Automic Group GPO Box 5193 Sydney NSW 2001 BY HAND DELIVERY (Between Sydney office hours 9.00am – 5.00pm AEST) Automic Group Level 5 126 Phillip Street Sydney NSW 2000

YOUR SHARE SALE ELECTION FORM MUST BE RECEIVED BY NO LATER THAN 5.00PM (WST) ON TUESDAY, 18 MAY 2021.

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