Announcement Summary

Entity name

S2 RESOURCES LTD

Date of this announcement

Monday September 11, 2023

The +securities the subject of this notification are:

+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Total number of +securities to be issued/transferred

code	ASX +security	Security description	Total number of+securities to beissued/transferred	Issue date
	New class - codeto be confirmed	OPTION EXPIRING 08-SEP-2027 EX$0.25	3,350,000	11/09/2023

Refer to next page for full details of the announcement

Part 1 - Entity and announcement details

1.1 Name of entity

S2 RESOURCES LTD

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type ABN

Registration number

18606128090

1.3 ASX issuer code

S2R

1.4 The announcement is

New announcement

1.5 Date of this announcement

11/9/2023

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

does not have an existing ASX security code ("new class")

Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX

in an Appendix 3B

ASX +security code	+Security description
New class - code to be confirmed	OPTION EXPIRING 08-SEP-2027 EX$0.25
+Security type	ISIN code
Options
Date the +securities the subject of this notification were issued
11/9/2023
Will all the +securities issued in this class rank equally in all respects from their issue date?
Yes
No	Were any of the +securities issued to +key management personnel (KMP) or an +associate?

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

The exercise price and expiry date for these options are the same as those proposed to be issued to directors as detailed in Appendix 3B dated 28 August 2023. These options are issued pursuant to the Employee Incentive Scheme a copy of which was attached to the 2022 AGM NOM. https://announcements.asx.com.au/asxpdf/20221014/pdf/45gb1clr5lk3gr.pdf

Options Details

+Security currency AUD - Australian Dollar Exercise price AUD 0.25000000 Expiry date 8/9/2027

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

Equity Securities

Description

S2R: Fully Paid Ordinary Shares (quoted)

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

As part of the 2022 AGM NOM - https://announcements.asx.com.au/asxpdf/20221014/pdf/45gb1clr5lk3gr.pdf

Any other information the entity wishes to provide about the +securities the subject of this notification

Options have a 12 month vesting period.

Issue details

Number of +securities 3,350,000

Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise: (A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.) 4.1 Quoted +Securities (Total number of each +class of +securities quoted) ASX +security code and description Total number of +securities on issue S2R : ORDINARY FULLY PAID 410,091,522

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

ASX +security code and description	Total number of+securities on issue
S2RAM : OPTION EXPIRING 04-OCT-2024 EX $0.39	2,000,000
S2RAP : OPTION EXPIRING 27-APR-2026 EX $0.23	200,000
S2RAK : OPTION EXPIRING 26-AUG-2024 EX 30C	200,000
S2RAQ : OPTION EXPIRING 21-OCT-2026 EX $0.20	8,100,000
S2RAJ : OPTION EXPIRING 11-NOV-2023 30C	18,000,000
S2RAE : OPTION EXPIRING 02-DEC-2023 EX 30C	200,000
S2RAN : OPTION EXPIRING 16-NOV-2024 EX $0.38	7,350,000
S2RAR : OPTION EXPIRING 18-APR-2026 EX $0.25	300,000
S2RAO : OPTION EXPIRING 11-NOV-2025 EX $0.29	10,300,000
New class - code to be confirmed : OPTION EXPIRING 08-SEP-2027 EX$0.25	3,350,000

Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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