S2 RESOURCES LTD — Share Issue/Capital Change 2022

Nov 15, 2022

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Announcement Summary

Entity name

S2 RESOURCES LTD

Date of this announcement

Wednesday November 16, 2022

The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
S2RAQ	OPTION EXPIRING 21-OCT-2026 EX $0.20	5,000,000	16/11/2022

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

1 / 5

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

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

==> picture [8 x 8] intentionally omitted <==

New announcement

1.5 Date of this announcement

16/11/2022

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

2 / 5

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Previous Appendix 3B details:

Announcement Date and	Announcement Title	Selected Appendix 3B to submit quotation
Time		request
21-Oct-2022 20:29	New - Proposed issue of securities -	A placement or other type of issue
	S2R

2.3a.2 Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B? No

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

3 / 5

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Part 3A - number and type of +securities the subject of this notification (existing class or new class) where issue has previously been notified to ASX in an Appendix 3B

Placement Details

ASX +security code and description S2RAQ : OPTION EXPIRING 21-OCT-2026 EX $0.20 Date the +securities the subject of this notification were issued 16/11/2022 Any other information the entity wishes to provide about the +securities the subject of this notification Options issued to directors upon receiving shareholder approval at the Company's AGM on 16.11.2022

Issue details Number of +securities 5,000,000 Were the +securities issued for a cash consideration? No Please describe the consideration being provided for the +securities

Options issued as part of remuneration package for each director as disclosed in the Notice of Annual General Meeting released to the market on 14 October 2022

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

4 / 5

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

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)

	Total number of
ASX +security code and description	+securities on issue
S2R : ORDINARY FULLY PAID	356,674,855
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)
	Total number of
ASX +security code and description	+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
S2RAH : OPTION EXPIRING 27-NOV-2022 14C	2,400,000
S2RAI : OPTION EXPIRING 04-MAR-2023 11C	50,000
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

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

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

5 / 5