SULTAN RESOURCES LTD — Share Issue/Capital Change 2025

Dec 4, 2025

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Announcement Summary

Entity name

SULTAN RESOURCES LTD

Date of this announcement

Friday December 05, 2025

The +securities the subject of this notification are: Other

Total number of +securities to be issued/transferred

Total number of ASX +security +securities to be code Security description issued/transferred Issue date New class - code Performance Rights 75,000,000 05/12/2025 to be confirmed

Refer to next page for full details of the announcement

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Part 1 - Entity and announcement details

1.1 Name of entity

SULTAN 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 Registration number ABN 35623652522

1.3 ASX issuer code

SLZ

1.4 The announcement is

New announcement

1.5 Date of this announcement

5/12/2025

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

Other

Please specify

The issue of performance rights which was approved by shareholders at the AGM on 26 November 2025.

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

does not have an existing ASX security code ("new class")

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Part 3C - number and type of +securities the subject of this notification (new class)

New +securities

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----- Start of picture text ----- ASX +security code +Security descriptionNew class - code to be confirmed Performance Rights----- End of picture text -----

ASX +security codeNew class - code to be confirmed	+Security descriptionPerformance Rights
+Security type	ISIN code
Other
Date the +securities the subject of this	notification were issued
5/12/2025
Will all the +securities issued in this class rank equally in all respects from their issue date?
Yes

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. Refer to Schedule of the NOM https://announcements.asx.com.au/asxpdf/20251024/pdf/06r02kcp8l4d9x.pdf

Any other information the entity wishes to provide about the +securities the subject of this notification

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

The issue of performance rights was disclosed in the Notice of AGM released on the ASX on 24 October 2025 and was approved by shareholders on 26 November 2025.

Issue details

Number of +securities

75,000,000

Were the +securities issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

A performance incentive remuneration for Mr Lincoln Liu; and as incentive to Xcel capital for assisting with assessing strategic exploration project curation, advising on funding etc.

Purpose of the issue

To pay for services rendered

Additional Details

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this notification, the +securities 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 issued and quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
SLZO : OPTION EXPIRING 12-MAR-2027	42,931,006
SLZ : ORDINARY FULLY PAID	536,320,499

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
SLZAE : OPTION EXPIRING 31-DEC-2027 EX $0.11	17,200,000
SLZAF : OPTION EXPIRING 30-JUN-2027 EX $0.075	11,250,000
New class - code to be confirmed : Performance Rights	75,000,000

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did 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

26/11/2025

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