CAVALIER RESOURCES LIMITED — Capital/Financing Update 2023

May 16, 2023

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The Manager Market Announcements Office

Australian Securities Exchange

Dear Sir/Madam,

Notification Pursuant to Section 708A(5)(e) of the Corporations Act 2001

This notice is given by Cavalier Resources Limited (ACN 635 842 143) (“the Company”) (ASX:CVR) pursuant to section 708A(5)(e) of the Corporations Action 2001 (Cth) (Corporations Act).

On 16 May 2023, the Company issued 349,866 fully paid ordinary shares under a placement in part payment for drilling services undertaken.

The Company hereby gives notice that:

• (a) The Shares are part of the class of ordinary shares quoted on the ASX;

• (b) The Company issued the Securities without disclosure to investors under Part 6D.2 of the Corporations Act, in reliance on section 708 and that notification is being given under Section 708A(5)(e) of the Act;

• (c) As at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company, and section 674 of the Act; and

• (d) As at the date of this notice, there is no information:

  • (i) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

  • (ii) that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

    • A. the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

    • B. the rights and liabilities attaching to the Shares.

This announcement has been authorised by the Board of Cavalier Resources Limited.

For further information, please contact Damon Cox (Company Secretary) via:

T: +61 8 6188 8181

• E: info@cavalierresources.com.au

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