WESTAR RESOURCES LIMITED — Director's Dealing 2022

Dec 8, 2022

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity WESTAR RESOURCES LIMITED ABN 66 635 895 082

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Karl Francis Jupp
Date of last notice	26 May 2022

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Roclincourt Pty Ltd < Kubira A/c> (Mr Jupp is the sole director and share- holder of Roclincourt Pty Ltd)
Date of change	8 December 2022
No. of securities held prior to change Karl Francis Jupp Roclincourt Pty Ltd < Kubira A/c>(Mr Jupp is the sole director and shareholder of Roclincourt Pty Ltd)	3,000,000 unlisted options to subscribe for fully paid ordinary shares (exercisable at $0.25 per option on or before 3 years after the listing date and escrowed for 24 months) 3,966,452 fully paid ordinary shares 1,500,000 Managing Director Perfor- mance Rights 35,087 options exercisable at $0.14 on or before 26 May 2025

• See chapter 19 for defined terms.

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Change of Director’s Interest Notice

Appendix 3Y

Class	1) Performance Rights -2021 2) Performance Rights -2022
Number acquired	2) 2,000,000
Number disposed	1) 1,000,000
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	1) Nil 2) Nil
No. of securities held after change Karl Francis Jupp Roclincourt Pty Ltd (Mr Jupp is the sole director and shareholder of Roclincourt Pty Ltd)	3,000,000 unlisted options to subscribe for fully paid ordinary shares (exercisable at $0.25 per option on or before 3 years after the listing date and escrowed for 24 months) 3,966,452 fully paid ordinary shares 500,000 Managing Director Performance Rights - 2021 35,087 options exercisable at $0.14 on or before 26 May 2025 2,000,000 Managing Director Perfor- mance Rights - 2022
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securi- ties under dividend reinvestment plan, par- ticipation in buy-back	Cancellation and issue of performance rights as approved under resolution 8 of the 2022 Annual General Meeting

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/a
Nature of interest	N/a
Name of registered holder (if issued securities)	N/a

• See chapter 19 for defined terms.

Appendix 3Y Page 2

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Appendix 3Y Change of Director’s Interest Notice

Date of change	N/a
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/a
Interest acquired	N/a
Interest disposed	N/a
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/a
Interest after change	N/a

Part 3 –[+] Closed period

rt 3– +Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/a
If prior written clearance was provided, on what date was this provided?	N/a

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Annexure A – Terms of Managing Director Performance Rights

Tranche	Number of	Vesting Condition	Expiry Date
	Perfor-
	mance
	Rights
Existing	500,000	The Company entering into a formal joint ven-	5 years from the date
Tranche		ture agreement in respect of a project owned by	of issue.
A – 2021		the Company and where the joint venture part-
		ner, as a minimum, has spent A$2m to earn an
		interest in such Company project.
New Tranche B – 2022	500,000	Absolute total shareholder return; The company having a 10-day VWAP of >50% share price appreciation, you will be entitled to receive Tranche B Director Performance Rights.	5 years from the date of issue.
New Tranche C – 2022	500,000	Absolute total shareholder return; The company having a 10-day VWAP of >100% share price appreciation, you will be entitled to receive Tranche C Director Performance Rights.	5 years from the date of issue.
New Tranche D - 2022	1,000,000	Absolute total shareholder return; The company having a 10-day VWAP of >150% share price appreciation, you will be entitled to receive Tranche D Director Performance Rights.	5 years from the date of issue.

• See chapter 19 for defined terms.

Appendix 3Y Page 4

01/01/2011