SUNSTONE METALS LTD — Major Shareholding Notification 2024

Mar 3, 2024

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme	Sunstone Metals Limited
ACN/ARSN	ABN: 68 123 184 412
1. Details of substantial holder (1)
Name	Ilwella Pty Ltd
ACN/ARSN (if applicable)	003 220 371

The holder became a substantial holder on 29/02/2024

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
Ordinary shares	179,505,609	179,505,609	5.33%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
Ilwella Pty Ltd	Direct Holdings	179,505,609
Offelbar Pty Ltd	Direct Holdings	6,089,744
Maximus Flannery Pty Ltd ATFFINCO INVESTMENT TRUST	Direct Holdings	1,119,402

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant	Registered holder of	Person entitled to be	Class and number of securities
interest	securities	registered as holder (8)
Ilwella Pty Ltd	HSBC CustodyNominees (Australia)Limited	Ilwella Pty Ltd	179,505,609 Ordinaryshares
Offelbar Pty Ltd	HSBC CustodyNominees (Australia)Limited	Offelbar Pty Ltd	6,089,744 Ordinary shares
Maximus Flannery Pty	HSBC Custody	Maximus Flannery Pty	1,119,402 Ordinary shares
Ltd ATF FINCO	Nominees (Australia)	Ltd ATF FINCO
INVESTMENT TRUST	Limited	INVESTMENT TRUST

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevantinterest	Date of acquisition	Consideration (9)		Class and number of securities
		Cash	Non-cash
See annexure 1	See annexure 1	Seeannexure 1	Seeannexure1	See annexure 1

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association

7. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Ilwella Pty Ltd	Suite 01, Level 12, 25 Bligh Street, Sydney NSW 2000
HSBC Custody Nominees(Australia) Limited	GPO Box 5302, Sydney NSW 2001
Offelbar Pty Ltd	Suite 01, Level 12, 25 Bligh Street, Sydney NSW 2000
Maximus Flannery Pty Ltd	ATF FINCO INVESTMENT TRUST Suite 01, Level 12, 25 Bligh Street, Sydney NSW 2000

Signature

print name	Quentin Flannery	Directorcapacity
sign here		04/03/2024date

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.
• (2) See the definition of "associate" in section 9 of the Corporations Act 2001.
• (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• (4) The voting shares of a company constitute one class unless divided into separate classes.
• (5) The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.
• (6) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• (7) Include details of:
  • (a) any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
  • (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

(8) If the substantial holder is unable to determine the identity of the person ( eg. if the relevant interest arises because of an option) write "unknown".

(9) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

Annexure 1

Date ofChange	Holder ofrelevantinterest	Nature ofchange	Consideration	Number ofSecurities	Person's VoteAffected
29/02/2024	Ilwella Pty Ltd	Buy	$85,468.91	8,509,715	8,509,715
15/12/2023	Ilwella Pty Ltd	Buy	$450,000	37,500,000	37,500,000
15/12/2023	Offelbar Pty Ltd	Buy	$50,000	4,166,667	4,166,667

Transactions

Company: Sunstone Metals Inc As at: 04/03/2024 Class of Security**:** Ordinary Fully Paid