CULLEN RESOURCES LIMITED — Capital/Financing Update 2019

Oct 21, 2019

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ABN 46 006 045 790

www.cullenresources.com.au

ASX ANNOUNCEMENT

ASX Symbol: CUL 22 October 2019

Information Required Under ASX Listing Rule 3.10.5A

Further to the announcement dated 22 October 2019 Cullen Resources Limited (“Cullen”) provides the following information as required under ASX Listing Rule 3.10.5A:

• a) The dilutive effect of the placement on existing shareholders is as follows:

	Shares	Dilution
Shares on issueprior to the Placement	169,464,828
Shares issued under ListingRule 7.1	4,803,518	2.54%
Shares issued under ListingRule 7.1 A	15,196,482	8.02%
Total dilution as a result of theplacement	189,464,828	10.56%

• b) Cullen issued the shares as it was considered to be the most efficient and expedient method for raising the funds required to achieve the company’s objectives.

• c) No underwriting arrangements were in place for the placement.

• d) Other costs associated with this placement will total approximately $20,000.

FURTHER INFORMATION

Wayne Kernaghan

t | 08 9474 5511

Unit 4, 7 Hardy Street South Perth | Western Australia 6151 Telephone: +61 8 9474 5511 | Facsimile: +61 8 9474 5588 E-mail: admin@cullenresources.com.au Website: www.cullenresources.com.au