Sarama Resources Ltd. — Capital/Financing Update 2024

Sep 17, 2024

Announcement Summary

Entity name

SARAMA RESOURCES LTD

Announcement Type

New announcement

Date of this announcement

Wednesday September 18, 2024

The +securities to be quoted are:

Other

Please refer to the response to Q2.3d for further information about the type of securities to be quoted and the circumstances of the issue.

Please refer to the notice of annual general meeting (AGM) filed by Sarama on 13 August 2024 seeking shareholder approval for the issue of securities in part settlement of deferred executive salaries and director fees. Approval was granted at the AGM on 12 September 2024

Total number of +securities to be quoted

ASX +securitycode	Security description	Number of +securities tobe quoted	Issue date
SRR	CHESS DEPOSITARY INTERESTS 1:1	22,348,980	18/09/2024

Refer to next page for full details of the announcement

Part 1 - Entity and announcement details

1.1 Name of entity

SARAMA RESOURCES LTD

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type

ARBN

Registration number

143964649

1.3 ASX issuer code

SRR

1.4 The announcement is 1.5 Date of this announcement New announcement

18/9/2024

Part 2 - Type of Issue

2.1 The +securities to be quoted are:

Other

Please refer to the response to Q2.3d for further information about the type of securities to be quoted and the circumstances of the issue.

2.2 The +class of +securities to be quoted is:

Additional +securities in a class that is already quoted on ASX ("existing class")

2.3c Have these +securities been offered under a +disclosure document or +PDS? No

2.3d Please provide any further information needed to understand the circumstances in which you are applying to have these +securities quoted on ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Please refer to the notice of annual general meeting (AGM) filed by Sarama on 13 August 2024 seeking shareholder approval for the issue of securities in part settlement of deferred executive salaries and director fees. Approval was granted at the AGM on 12 September 2024

2.4 Any on-sale of the +securities to be quoted within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)

Additional +securities to be quoted in an existing class

Part 3B - number and type of +securities to be quoted (existing class) where issue has not previously been notified to ASX in an

Appendix 3B

ASX +security code and description
SRR : CHESS DEPOSITARY INTERESTS 1:1
Issue date
18/9/2024
Will the +securities to be quoted rank equally in all respects from their issue date with theexisting issued +securities in that class?Yes
Issue details
Number of +securities to be quoted
22,348,980
Are the +securities being issued for a cash consideration?
Yes
In what currency is the cash consideration being paid?	What is the issue price per +security?
AUD - Australian Dollar	AUD 0.02000000
Any other information the entity wishes to provide about the +securities to be quoted
The purpose(s) for which the entity is issuing the securities
To pay for services rendered
Please provide additional details
the securities are being issued in part settlement of deferred executive salaries and director fees as previously

announced in a news release dated 17 July 2024

Part 4 - Issued capital following quotation

Following the quotation of the +securities the subject of this application, the issued capital of the entity will comprise: The figures in parts 4.1 and 4.2 below are automatically generated and may not reflect the entity's current issued capital if other Appendix 2A, Appendix 3G or Appendix 3H forms are currently with ASX for processing. 4.1 Quoted +securities (total number of each +class of +securities quoted on ASX following the +quotation of the +securities subject of this application) Total number of

ASX +security code and description	+securities on issue
SRR : CHESS DEPOSITARY INTERESTS 1:1	166,822,161

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
SRRAN : OPTION EXPIRING 14-JUN-2026 EX $0.15	1,312,180
SRRAA : OPTION EXPIRING 22-APR-2025 RESTRICTED	2,500,000
SRRAO : OPTION EXPIRING 21-JUN-2026 EX $0.15	1,812,820
SRRAI : OPTION EXPIRING 19-JAN-2025 EX CAD $0.20	2,721,665
SRRAB : ORDINARY FULLY PAID	89,448,988
SRRAP : OPTION EXPIRING 23-JUL-2027 EX $0.03	9,900,000
SRRAM : OPTION EXPIRING 20-APR-2026 EX $0.16	6,809,999
SRRAL : OPTION EXPIRING 13-APR-2026 EX $0.15	6,875,000

Part 5 - Other Listing Rule requirements

5.1 Are the +securities being issued under an exception in Listing Rule 7.2 and therefore the issue does not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1?

Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 12/9/2024