S2 RESOURCES LTD — Major Shareholding Notification 2015

Nov 3, 2015

Form 603 Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme	S2 RESOURCES LTD
ACN/ARSN	606 128 090

1. Details of substantial shareholder

Name	Deutsche Bank AG and its related bodies corporate (together the "Deutsche Bank Group")
ACN/ARSN (if applicable)	064 165 162
The holder became a substantial holder on	30 October 2015

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date of the substantial holder became a substantial holder are as follows:

Class of securities (4)	$\mathsf{I}$ Number of securities	Person's votes (5)	Voting power (6)
Ordinary shares	11,252,727	11.252.727	5.43%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities (Ordinary shares)
Deutsche Bank AG, Sydney Branch	Power to dispose of, or control the exercise of a power to dispose of, the securities held in capacity as principal	11,252,727

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Class and number of securities (Ordinary shares)
Deutsche Bank AG, Sydney Branch	Pan Australian Nominees Pty Ltd	Deutsche Bank AG, Sydney Branch	1,680,290
	Unknown		9,572,437

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration (9) (AUD)	Class and number of securities (Ordinary shares)
Refer to Schedule 1.

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
N/A

7. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Deutsche Bank AG, Sydney Branch	Level 16, Deutsche Bank Place, Corner Hunter and Philip Street, Sydney, NSW, Australia 2000
Pan Australian Nominees Pty Ltd	Level 16, Deutsche Bank Place, Corner Hunter and Philip Street, Sydney, NSW, Australia 2000

Signature

Name Carmen Chan

Deutsche Bank AG, Hong Kong Branch

3 November 2015

Schedule 1

Date of change	Holder of relevant interest	Nature of change	given in relation Consideration to change	(Ordinary of securities Class and number Shares) affected	affected Person's votes
	Sydney Branch 19/10/2015 Deutsche Bank AG,	Buy	0.18	900,000	900,000
	19/10/2015 Deutsche Bank AG, Sydney Branch	Buy	0.17	900,000	900,000
	19/10/2015 Deutsche Bank AG, Sydney Branch	Buy	0.00	876,941	876,941
	19/10/2015 Deutsche Bank AG, Sydney Branch	Buy	0.00	684,079	684,079
	19/10/2015 Deutsche Bank AG, Sydney Branch	Sell	0.00	$-639,991$	$-639,991$
	19/10/2015 Deutsche Bank AG, Sydney Branch	Buy	0.00	519,771	519,771
	19/10/2015 Deutsche Bank AG, Sydney Branch	Sell	17 O	$-519,771$	$-519,771$
	Sydney Branch 19/10/2015 Deutsche Bank AG,	Buy	0.00	304,362	304,362
	Sydney Branch 19/10/2015 Deutsche Bank AG,	Buy	0.00	252,658	252,658
	19/10/2015 Deutsche Bank AG, Sydney Branch	Buy	0.00	241,701	241,701
	19/10/2015 Deutsche Bank AG, Sydney Branch	Sell	0.00	$-156,719$	$-156,719$
	19/10/2015 Deutsche Bank AG, Sydney Branch	Buy	0.00	115,172	115,172
	Sydney Branch 19/10/2015 Deutsche Bank AG,	Вuу	0.00	8,245	8,245
	19/10/2015 Deutsche Bank AG, Sydney Branch	Sell	0.00	$-8,123$	$-8,123$
	19/10/2015 Deutsche Bank AG, Sydney Branch	Buy	0.00	5,188	5,188
	Sydney Branch 19/10/2015 Deutsche Bank AG,	Buy	0.00	4,128	4,128
	Sydney Branch 19/10/2015 Deutsche Bank AG,	Buy	0.00	3,031	3,031
	19/10/2015 Deutsche Bank AG, Sydney Branch	Sell	0.00	$-2,152$	$-2,152$
	19/10/2015 Deutsche Bank AG, Sydney Branch	Buy	0.00	1,935	1,935
	20/10/2015 Deutsche Bank AG, Sydney Branch	Buy	0.16	2,000,000	2,000,000
	Sydney Branch 20/10/2015 Deutsche Bank AG	Sell	0.17	$-384,225$	$-384,22!$
	Sydney Branch 20/10/2015 Deutsche Bank AG,	Sell	0.16	$-78,429$	$-78,429$
	20/10/2015 Deutsche Bank AG, Sydney Branch	Sell	0.16	$-23,411$	$-23,41$
	Sydney Branch 20/10/2015 Deutsche Bank AG,	Sell	0.16	$-8,245$	$-8,245$
	Sydney Branch 21/10/2015 Deutsche Bank AG,	Sell	0.17	$-492,716$	$-492,716$
	21/10/2015 Deutsche Bank AG, Sydney Branch	Sell	0.18	$-350,000$	$-350,000$
	21/10/2015 Deutsche Bank AG, Sydney Branch	Buy	0.18	246,654	246,65
	Sydney Branch 21/10/2015 Deutsche Bank AG,	Sell	0.17	$-225,933$	$-225,93$
	Sydney Branch 21/10/2015 Deutsche Bank AG,	Buy	0.18	156,719	156,71
	21/10/2015 Deutsche Bank AG, Sydney Branch	Buy	0.17	55,000	55,00
	21/10/2015 Deutsche Bank AG. Sydney Branch	Sell	0.18	$-20.000$	$-20.00$

Schedule 1

affected given in relation Consideration to change
0.18 0.17
0.18
0.19
0.20
0.19
0.20
0.19
0.00
0.19
0.19
0.20
0.19
0.19
0.19
0.18
0.18
0.19
0.18
0.18
0.19
0.18
0.18
0.18
0.18
0.18
0.17
0.18