SULTAN RESOURCES LTD — Regulatory Filings 2018

Aug 13, 2018

ASX:SLZ ACN: 623 652 522

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Suite 2, 1 Altona Street West Perth, WA 6005 T: +61 (8) 6559 1792

W: www.sultanresources.com.au

ASX ANNOUNCEMENT

Terms and Conditions of Lead Manager Options

Sultan Resources Limited (ACN 623 652 522) ( Sultan or the Company ) provides the following disclosures in connection with the admission of its securities to quotation in accordance with the ASX Listing Rules.

The Company confirms the full terms and conditions of the Lead Manager Options are as follows:

The Lead Manager Options entitle the holder to subscribe for Shares on the following terms and conditions:

• (a) Each Option gives the Option holder the right to subscribe for one Share.

• (b) The Options will expire at 5.00pm (WST) on the date which is 5 years from the Company’s date of admission to the Official List ( Expiry Date ). Any Option not exercised before the Expiry Date will automatically lapse on the Expiry Date.

• (c) The amount payable upon exercise of each Option will be $0.24 ( Exercise Price ).

• (d) The Options held by each Option holder may be exercised in whole or in part, and if exercised in part, multiples of 1,000 must be exercised on each occasion.

• (e) An Option holder may exercise their Options by lodging with the Company, before the Expiry Date:

  • (i) a written notice of exercise of Options specifying the number of Options being exercised; and

  • (ii) a cheque or electronic funds transfer for the Exercise Price for the number of Options being exercised;

( Exercise Notice ).

• (f) An Exercise Notice is only effective when the Company has received the full amount of the Exercise Price in cleared funds.

• (g) Within 10 Business Days of receipt of the Exercise Notice accompanied by the Exercise Price, the Company will issue the number of Shares required under these terms and conditions in respect of the number of Options specified in the Exercise Notice.

• (h) The Options are not transferable.

• (i) All Shares issued upon the exercise of the Options will upon issue rank pari passu in all respects with other Shares.

• (j) The Company will not apply for quotation of the Options on ASX. However, The Company will apply for quotation of all Shares issued pursuant to the exercise of the Options on ASX within 10 business days after the date of issue of those Shares.

• (k) If at any time the issued capital of the Company is reconstructed, all rights of an Option holder are to be changed in a manner consistent with the Corporations Act and the ASX Listing Rules at the time of the reconstruction.

• (l) There are no participating rights or entitlements inherent in the Options and Option holders will not be entitled to participate in new issues of capital offered to Shareholders during the currency of the Options. However, the Company will ensure that for the purposes of determining entitlements to any such issue, the record date will be at least 7 business days after the issue is announced. This will give Option holders the opportunity to exercise their Options prior to the date for determining entitlements to participate in any such issue.

• (m) An Option does not confer the right to a change in exercise price or a change in the number of underlying Shares over which the Option can be exercised.