S2 RESOURCES LTD — Major Shareholding Notification 2023

Dec 21, 2023

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/SchemeACN/ARSN			S2 Resources Ltd (ASX: S2R)
1. Details of substantial holder (1)
Name		SEE ANNEXURE 1
ACN/ARSN (if applicable)		SEE ANNEXURE 1
There was a change in the interests of thesubstantial holder on			20/12/2023
The previous notice was given to the company on			15/09/2020
The previous notice was dated			11/09/2020

2. Previous and present 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 when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
FPO	23,341,794	7.532%	40,077,522	8.869%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date ofchange	Person whoserelevant interestchanged	Nature of change (6)	Consideration given inrelation to change (7)	Class and numberof securitiesaffected	Person's votesaffected
	SEE ANNEXURE

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder ofrelevantinterest	Registered holderof securities	Person entitled to beregistered as holder(8)	Nature of relevantinterest (6)	Class and numberof securities	Person's votes
	SEE ANNEXURE

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

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

6. Addresses

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

Name	Address
SEE ANNEXURE 1

Signature

print name	Aoife Kemp	capacity	Company Secretary
sign here	5e	date	22/12/2023

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the $(1)$ manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$
• $(3)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• $(5)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• Include details of: $(6)$
  • any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) $(a)$ applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
  • $(b)$ any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired $(7)$ has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write $(8)$ "unknown".
• $(9)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

ANNEXURE 1

STOCK: S2 Resources Ltd (ASX: S2R)

1. Details of substantial holder (1)

	ACN/ARSN	Nature of relevant interest
		Power to (or control) exercise vote and/or dispose of the securities as
		discretionary investment managers or advisers of superannuation funds, pooled
		superannuation trusts, managed investment schemes and investment
בבdice Investment M	ABN 64 090 148 619	management agreements.
		Relevant interest under section 608(3)(a), where a person is taken to have the
		same relevant interests as a body corporate, or managed investment scheme,
		which the person's voting power is over 20%

3. CHANGES IN RELEVANT INTERESTS

DATE OF CHANGE	PERSON WHOSE RELEVANT IN		CONSIDERATION GIVEN IN	CLASS & NO. OFSECURITIES	PERSON'S VOTES
16/09/2020	TEREST CHANGEDParadice Investment Management Pty Ltd	NATURE OF CHANGEShare Purchase	31,570.51RELATION TO CHANGE $	121.659.00AFFECTED	121,659AFFECTED
31/08/2021	Paradice Investment Management Pty Ltd	Share Purchase	370,927.68	3,091,064.00	3,091,064
12/10/2021	Paradice Investment Management Pty Ltd	Share Sale	72,553.51	815,208.00	815,208
3/11/2022	Paradice Investment Management Pty Ltd	Share Purchase	22,588.40	159,678.00	159,678
4/11/2022	Paradice Investment Management Pty Ltd	Share Purchase	36,653.42	252.671.00	252,671
6/03/2023	Paradice Investment Management Pty Ltd	Share Purchase	467,524.08	3,896,034.00	3,896,034
9/08/2023	Paradice Investment Management Pty Ltd	Share Sale	975.71	5.742.00	5,742
10/08/2023	Paradice Investment Management Pty Ltd	Share Sale	14,941.35	87,929.00	87,929
14/08/2023	Paradice Investment Management Pty Ltd	Share Sale	7,889.27	46,758.00	46,758
15/08/2023	Paradice Investment Management Pty Ltd	Share Sale	3,895.53	22,925.00	22,925
16/08/2023	Paradice Investment Management Pty Ltd	Share Sale	19,078.26	113,611.00	113,611
7/09/2023	Paradice Investment Management Pty Ltd	Share Sale	1,573.74	9,542.00	9,542
8/09/2023	Paradice Investment Management Pty Ltd	Share Sale	68,253.18	401,666.00	401,666
20/09/2023	Paradice Investment Management Pty Ltd	Share Sale	76.596.84	450,768.00	450,768
21/09/2023	Paradice Investment Management Pty Ltd	Share Sale	14,718.41	86,617.00	86,617
5/10/2023	Paradice Investment Management Pty Ltd	Share Purchase	777,330.16	4.237.202.00	4,237,202
9/10/2023	Paradice Investment Management Pty Ltd	Share Purchase	30,507.77	156,021.00	156,021
10/10/2023	Paradice Investment Management Pty Ltd	Share Purchase	5,904.06	29,812.00	29,812
20/10/2023	Paradice Investment Management Pty Ltd	Share Purchase	185.759.44	950,000,00	950,000
20/12/2023	Paradice Investment Management Pty Ltd	Share Purchase	,000,000.01	5,882,353.00	5,882,353
		Total Purchases	2, 123, 769. 15		18,776,494
		Total Sales	135,368.78	18,776,494-2,040,766	$-2,040,766$

4. PRESENT RELEVANT INTERESTS

	Person entitled to be registered as
	holder	Nature of Relevant Interest	Class & No of Securities Persons Votes
	ISBC N		0.077.522.00	10,077,522.00
		TOTAL	10,077,522.00	10.077.522.00

16,735,728

16,735,728

$-51,988,400.37$

Total

ADDRESSES

ddress
L27, Chifley Tower, 2 Chifley Square, Sydney NSW 2000
C/- Lumina. Level 43. 25 Martin Place. Sydney. NSW 2000

This is annexure 1 of 1 pages referred to in form 604 Notice of change of Interests of Substantial Shareholder