WESTAR RESOURCES LIMITED — Director's Dealing 2022

May 26, 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	6 December 2021

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 (Mr Jupp is the sole director and share- holder of Roclincourt Pty Ltd)
Date of change	26 May 2022
No. of securities held prior to change Karl Francis Jupp Roclincourt Pty Ltd (Mr Jupp is the sole director and share- holder 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) 3,861,189 fully paid ordinary shares 1,500,000 Managing Director Perfor- mance Rights

• See chapter 19 for defined terms.

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Change of Director’s Interest Notice

Appendix 3Y

Class	1) Shares 2) Options ex $0.14 on or before 26 May 2025
Number acquired	1) 105,263 2) 35,087
Number disposed	N/a
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	1) $0.095 per share 2) Free attaching
No. of securities held after change Karl Francis Jupp Roclincourt Pty Ltd (Mr Jupp is the sole director and share- holder 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
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	Issue of shares and options as approved by the general meeting held on 18 May 2022.

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
Date of change	N/a

• See chapter 19 for defined terms.

Appendix 3Y Page 2

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Appendix 3Y Change of Director’s Interest Notice

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

art 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

Number	Vesting Milestone The Performance Rights will vest upon:
500,000	The Company entering into a formal joint venture agreement in respect of a project owned by the Company and where the joint venture partner, as a minimum, has spent A$2m to earn an interest in such Company project.
500,000	Discovery of a JORC compliant [Inferred Resource / Indicated Resource] of a minimum of 250,000 ounces of Au (or Au equivalent) on any of the Company's projects or the addition of 250,000 ounces of Au (or Au equivalent) on any project that the Company acquires that is acquired with a JORC compliant resource.
500,000	Absolute total shareholder return per annum (year on year) in respect of the 2 consecutive financial years ended 30 June 2022 and 30 June 2023: (a) 10% share price appreciation per annum (year on year for FY 2022 and FY 2023), you will be entitled to receive 33% of the Tranche 3 Director Performance Rights; (b) 10% to 20% share price appreciation per annum (year on year for FY 2022 and FY 2023), you will be entitled to re- ceive between 33% to 100% pro-rated (straight line) of the Tranche 3 Director Performance Rights; and (c) >20% share price appreciation per annum (year on year for FY 2022 and FY 2023), you will be entitled to receive 100% of the Tranche 3 Director Performance Rights.

• See chapter 19 for defined terms.

Appendix 3Y Page 4

01/01/2011