XSTATE RESOURCES LIMITED — Capital/Financing Update 2020

Nov 15, 2020

Market Announcement

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16 November 2020

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Xstate Resources Limited (ASX: XST) – Trading Halt

Description

The securities of Xstate Resources Limited (‘XST’) will be placed in trading halt at the request of XST, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Wednesday, 18 November 2020, or when the announcement is released to the market.

Issued by

Daniel Nicholson

Adviser, Listings Compliance (Perth)

Market Announcement 1/1 ASX Customer Service Centre 131 279 | asx.com.au

16 November 2020 ASX Limited

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16 November 2020

James Rowe Senior Manager, Listings Compliance (Perth) ASX Limited Level 40, Central Park 152-158 St George’s Terrace Perth WA 6000

Dear James,

REQUEST FOR TRADING HALT

Xstate Resources Limited requests a halt in trading in its securities from the commencement of trading today, 16 November 2020.

The trading halt is requested pending an announcement to the market in relation to a material acquisition and a capital raising by the Company.

For the purposes of Listing Rule 17.1, the Company provides the following information:

• (a) the Company requests the trading halt from 16 November 2020 to the commencement of trading on 18 November 2020;

• (b) the trading halt is expected to cease at the time the announcement is made by the Company; and

• (c) the Company is not aware of any reason why the trading halt should not be granted or any other information necessary to inform the market.

If you have any queries, please do not hesitate to contact me.

Yours sincerely

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Jordan McArthur Company Secretary