SULTAN RESOURCES LTD — Regulatory Filings 2023

May 22, 2023

Sultan Resources Ltd

ACN: 623652 522

CORPORATE DETAILS

ASX Code: SLZ

DIRECTORS

JEREMY KING CHAIRMAN

23[rd] May 2023

Mr. Damian Dinelli Senior Adviser, Listing Compliance By email: damian.dinelli@asx.com.au; listingscomplianceperth@asx.com.au

STEVEN GROVES NON-EXECUTIVE DIRECTOR

DAVID LEES NON-EXECUTIVE DIRECTOR

CONTACT

Suite 11, Level 2, 23 Railway Rd Subiaco WA 6008 www.sultanresources.com.au info@sultanresources.com.au

ASX PRICE QUERY RESPONSE

Dear Damian,

We refer to your letter dated 23 May 2023 querying the change in trading price of Sultan Resources Limited (the Company ) Shares from an intraday low of $0.0355 on 19 May 2023 to an intraday high of $0.059 today and the significant increase in the volume of SLZ’s securities traded from 19 May 2023 to 23 May 2023 ( Letter ). In response to your questions outlined in the Letter, we provide the following information (using your numbering):

1. The Company is not aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in the Company’s securities.

2. Not applicable.

3. The Company is not aware of any other explanation which would explain the recent change in price and increase in volume of the Company’s securities.

4. The Company confirms it is in compliance with the Listing Rules, in particular Listing Rule 3.1.

5. The Company confirms its responses to the above questions have been authorised and approved by its Board.

For and on behalf of the Board:

Hannah Cabatit Company Secretary

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23 May 2023

Reference: 74712

Ms Hannah Cabatit Company Secretary Sultan Resources Ltd

By email

Dear Ms Cabatit

Sultan Resources Ltd (‘SLZ’): Price and Volume Query

ASX refers to the following:

• A. The change in the price of SLZ’s securities from an intraday low of $0.0355 on 19 May 2023 to an intraday high of $0.059 today.

• B. The significant increase in the volume of SLZ’s securities traded from 19 May 2023 to 23 May 2023.

Request for information

In light of this, ASX asks SLZ to respond separately to each of the following questions and requests for information:

1. Is SLZ aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities?

2. If the answer to question 1 is “yes”.

3. (a) Is SLZ relying on Listing Rule 3.1A not to announce that information under Listing Rule 3.1? Please note that the recent trading in SLZ’s securities would suggest to ASX that such information may have ceased to be confidential and therefore SLZ may no longer be able to rely on Listing Rule 3.1A. Accordingly, if the answer to this question is “yes”, you need to contact us immediately to discuss the situation.

4. (b) Can an announcement be made immediately? Please note, if the answer to this question is “no”, you need to contact us immediately to discuss requesting a trading halt (see below).

5. (c) If an announcement cannot be made immediately, why not and when is it expected that an announcement will be made?

6. If the answer to question 1 is “no”, is there any other explanation that SLZ may have for the recent trading in its securities?

7. Please confirm that SLZ is complying with the Listing Rules and, in particular, Listing Rule 3.1.

8. Please confirm that SLZ’s responses to the questions above have been authorised and approved under its published continuous disclosure policy or otherwise by its board or an officer of SLZ with delegated authority from the board to respond to ASX on disclosure matters.

When and where to send your response

This request is made under Listing Rule 18.7. Your response is required as soon as reasonably possible and, in any event, by no later than 3:45 PM AWST on Tuesday, 23 May 2023 . You should note that if the information requested by this letter is information required to be given to ASX under Listing Rule 3.1 and it does not fall

ASX Customer Service Centre 131 279 | asx.com.au

ASX Limited [[Listings]]

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within the exceptions mentioned in Listing Rule 3.1A, SLZ’s obligation is to disclose the information ‘immediately’. This may require the information to be disclosed before the deadline set out in the previous paragraph and may require SLZ to request a trading halt immediately.

Your response should be sent to me by e-mail at ListingsCompliancePerth@asx.com.au . It should not be sent directly to the ASX Market Announcements Office. This is to allow me to review your response to confirm that it is in a form appropriate for release to the market, before it is published on the ASX Market Announcements Platform.

Trading halt

If you are unable to respond to this letter by the time specified above, or if the answer to question 1 is “yes” and an announcement cannot be made immediately, you should discuss with us whether it is appropriate to request a trading halt in SLZ’s securities under Listing Rule 17.1. If you wish a trading halt, you must tell us:

• the reasons for the trading halt;

• how long you want the trading halt to last;

• the event you expect to happen that will end the trading halt;

• that you are not aware of any reason why the trading halt should not be granted; and

• any other information necessary to inform the market about the trading halt, or that we ask for.

We require the request for a trading halt to be in writing. The trading halt cannot extend past the commencement of normal trading on the second day after the day on which it is granted. You can find further information about trading halts in Guidance Note 16 Trading Halts & Voluntary Suspensions .

Suspension

If you are unable to respond to this letter by the time specified above, ASX will likely suspend trading in SLZ’s securities under Listing Rule 17.3.

Listing Rules 3.1 and 3.1A

In responding to this letter, you should have regard to SLZ’s obligations under Listing Rules 3.1 and 3.1A and also to Guidance Note 8 Continuous Disclosure : Listing Rules 3.1 – 3.1B. It should be noted that SLZ’s obligation to disclose information under Listing Rule 3.1 is not confined to, nor is it necessarily satisfied by, answering the questions set out in this letter.

Release of correspondence between ASX and entity

ASX reserves the right to release all or any part of this letter, your reply and any other related correspondence between us to the market under Listing Rule 18.7A.

Questions

If you have any questions in relation to the above, please do not hesitate to contact me.

Yours faithfully

Damian Dinelli

Senior Adviser, Listings Compliance

2/2 ASX Customer Service Centre 131 279 | asx.com.au