FRONTIER ENERGY LIMITED — Board/Management Information 2021

Nov 30, 2021

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ASX Announcement ASX: SUP 1 December 2021 superiorlake.com.au

Appointment of Dixie Marshall as Non-Executive Director completes Board restructure

Highlights

• Dixie Marshall has been appointed as a Non-Executive Director

  • Ms Marshall has +30 years’ experience across media, advertising and politics and is currently Managing Director of Marketforce, WA’s oldest advertising agency

  • Ms Marshall also worked from the Western Australian Premier’s Office for six years as the Director of Strategic Communications and brings a unique understanding of Western Australian Government policy

• Chris Bath has been appointed as an Executive Director and CFO

  • Mr Bath has over 20 years of senior management experience in the energy and resources sectors, both in Australia and south-east Asia

• Current Executive Director, Grant Davey, will become Non-Executive Chair

• Along with the appointment of Mike Young as Managing Director, the board restructure is now complete

• The Board restructure follows Superior Lake entering into a binding agreement to acquire Bristol Springs Solar Pty Ltd, which is developing a 105MW solar farm in Western Australia, as part of its strategy to become a clean energy producer

Superior Lake Resources Limited (ASX: SUP) (" Superior Lake " or the " Company ") is pleased to announce the appointment of Dixie Marshall as Non-Executive Director and Chris Bath as Executive Director.

Ms Marshall has over 38 years’ experience in media, advertising, politics and communications across a range of platforms, including television, radio, newspapers, and digital. Ms Marshall has an advanced knowledge of data and digital innovation as applied to communications, marketing, and sales and has won awards for journalism, and more recently advertising. Ms Marshall is currently the Managing Director of Marketforce, WA’s oldest advertising agency.

Ms Marshall worked from the Premier’s Office for six years as the Director of Strategic Communications for the WA Government and has a unique insight into government policy.

Mr Bath is a Chartered Accountant and member of the Australian Institute of Company Directors, with over 20 years of senior management experience in the energy and resources sectors both in Australia and southeast Asia. Mr Bath has been Chief Financial Officer for companies listed on AIM, ASX and JSX and more recently was a senior executive with a family office investment firm.

Emerald House 1202 Hay Street West Perth WA, 6005

T: +61 8 6117 0479

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Mr Alfred Gillman and Mr Chris Knee, have both stepped down as directors of the Company. The Company would like to thank both Mr Gillman and Mr Knee for their significant contribution and wishes them well in their future endeavours.

Non-Executive Chair, Grant Davey, commented:

“I am delighted that we have now assembled an exceptionally strong and diversified board to drive the Company forward with our new strategy and direction that is focussed on the supply of clean energy. Whilst each board member brings their own unique and specialised skills and experiences, the single attribute I believe we all share is a track record of delivering on our targets.

The hard work for the Company has already begun behind the scenes to ensure we are on track to meet our ambitious objective to quickly become a leader in the clean energy sector within Western Australia”.

Bristol Spring Solar Project

Superior Lake has entered into a binding agreement to acquire a 100% interest in Bristol Springs Solar Pty Ltd, which is developing a 105MW solar farm located south-east of Perth in Western Australia (the ” Project ”) (the “ Acquisition ”).

The Project is a solar farm development located in the south-west of Western Australia, south-east of Perth. Conceptual design work was undertaken and completed in July 2019 and preliminary engineering estimates were undertaken in September 2019.

The Project is consistent with the Western Australian Government’s renewable energy strategy, which is designed to remove barriers to investment and facilitate access to the Wholesale Electricity Market for new low-cost and cleaner technologies.

The Acquisition will result in a significant change to the nature and scale of the Company's activities. Accordingly, the Company will seek shareholder approval under ASX Listing Rule 11.1.2 at a general meeting and will also seek to re-comply with Chapters 1 and 2 of the ASX Listing Rules in accordance with ASX Listing Rule 11.1.3.

The Company’s securities will remain suspended until shareholder approval has been obtained and the Company has re-complied with Chapters 1 and 2 of the ASX Listing Rules.

To learn more about the Company, please visit www.superiorlake.com.au, or contact:

Grant Davey Non-Executive Chair +61 8 6117 0479

This announcement has been authorised for release by the Board of Superior Lake Resources Limited.

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