CULLEN RESOURCES LIMITED — Capital/Financing Update 2022

Nov 6, 2022

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ABN 46 006 045 790

www.cullenresources.com.au ASX Symbol: CUL 7 November 2022

Results of Non-Renounceable Rights Issue – Notification of Shortfall

Cullen Resources Limited (“the Company”) is pleased to announce that the amount raised through acceptances of Entitlements and Applications for Shortfall Shares under the Rights Issue, announced on 3 October 2022, totals $969,185. The rights issue closed on 31 October 2022.

Acceptances of Entitlements for a total of 58,855,132 New Shares raised $706,263 which left a shortfall of 76,605,115 New Shares.

A number of shareholders who accepted their Entitlement also applied for Shortfall Shares under the offer with the Company receiving applications for a total of 21,910,249 Shortfall Shares which will see 21,910,249 new shares being issued raising $262,922.

In aggregate therefore, on 7 November 2022 the Company will issue 80,765,381 New Shares to eligible shareholders raising $969,185.

The Company wishes to thank shareholders for their on-going support.

Authorised for release by the Board.

Wayne Kernaghan Company Secretary

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