SUNSTONE METALS LTD — Share Issue/Capital Change 2022

Nov 3, 2022

Application for quotation of +securities

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Announcement Summary

Entity name

SUNSTONE METALS LTD

Announcement Type

New announcement

Date of this announcement

Friday November 04, 2022

The +securities to be quoted are:

+Securities issued under an +employee incentive scheme that are not subject to a restriction on transfer or that are to be quoted notwithstanding there is a restriction on transfer

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
STM	ORDINARY FULLY PAID	20,000,000	04/11/2022

Refer to next page for full details of the announcement

Application for quotation of +securities

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Application for quotation of +securities

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Part 1 - Entity and announcement details

1.1 Name of entity

SUNSTONE METALS 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

ABN

Registration number 68123184412

1.3 ASX issuer code

STM

1.4 The announcement is

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New announcement

1.5 Date of this announcement

4/11/2022

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Application for quotation of +securities

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Part 2 - Type of Issue

2.1 The +securities to be quoted are:

+Securities issued under an +employee incentive scheme that are not subject to a restriction on transfer or that are to be quoted notwithstanding there is a restriction on transfer

2.2 The +securities to be quoted are:

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

Application for quotation of +securities

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Application for quotation of +securities

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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

Additional +securities to be quoted in an existing class issued under an +employee incentive scheme

FROM (Existing Class) ASX +security code and description STMAS : PERFORMANCE RIGHTS

TO (Existing Class) ASX +security code and description

STM : ORDINARY FULLY PAID

Please state the number of +securities issued under the +employee incentive scheme that are not subject to a restriction on transfer or that are to be quoted notwithstanding there is a restriction on transfer 20,000,000

Please provide details of a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

Employee Performance Rights Plan approved at 2021 AGM: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02426052-2A1325728?access_token=8 3ff96335c2d45a094df02a206a39ff4

Are any of these +securities being issued to +key management personnel (KMP) or an +associate Yes

Provide details of the KMP or +associates being issued +securities

Name of KMP	Name of registered holder	Number of +securities
Malcolm Norris	Malcolm Norris	5,600,000
Ray Robinson	Ray Robinson	4,800,000
Bruce Rohrlach	Bruce Rohrlach	4,800,000
Gavin Leicht	Gavin Leicht	4,800,000

Issue date

4/11/2022

Application for quotation of +securities

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Application for quotation of +securities

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Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class?

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Yes

Issue details

Number of +securities to be quoted

20,000,000

Are the +securities being issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Performance Rights under the Company's Employee Performance Rights Plan approved at the AGM dated 28 October 2021. Value below as per actuarial valuation of the Performance Rights.

Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted

0.048300

Any other information the entity wishes to provide about the +securities to be quoted

• 10,000,000 Performance Rights to vest upon closing price of Sunstone shares being at or above $0.071 for minimum 10 trading days out of any 20 consecutive trading days (achieved 24 November 2021 but subject to 12 month vesting from date of issue);

• 10,000,000 Performance Rights to vest upon closing price of Sunstone shares being at or above $0.094 for minimum 10 trading days out of any 20 consecutive trading days (achieved 7 December 2021 but subject to 12 month vesting from date of issue);

Application for quotation of +securities

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Application for quotation of +securities

Part 4 - Issued capital following quotation

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Following the quotation of the +securities the subject of this application, the issued capital of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance 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
STM : ORDINARY FULLY PAID	2,616,446,419

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
STMAS : PERFORMANCE RIGHTS	31,999,999
STMAL : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES	12,000,000

Application for quotation of +securities

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Application for quotation of +securities

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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? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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Application for quotation of +securities

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