XSTATE RESOURCES LIMITED — Capital/Financing Update 2020

Jul 6, 2020

Market Announcement

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7 July 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 Thursday, 9 July 2020 or when the announcement is released to the market.

Issued by

Isabelle Andrews

Senior Adviser, Listings Compliance (Perth)

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

7 July 2020 ASX Limited

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Xstate Resources Limited

ABN 96 009 217 154

Registered office Postal address First floor PO Box 584 31 Cliff Street Fremantle WA 6959 Fremantle WA 6160 Tel: +61 8 9435 3200 Website www.xstate.com.au

7 July 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,

TRADING HALT REQUEST

Xstate Resources Limited requests a trading halt in its securities from the commencement of trading today, 7th July 2020.

The trading halt is requested pending an announcement to the market in relation to a capital raising.

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

• (a) Xstate Resources requests the trading halt from Tuesday, 7 July 2020 to the commencement of trading on Thursday, 9 July 2020 or upon announcement to the market of abovementioned capital raising; and

• (b) Xstate Resources is not aware of any reason why the trading halt should not be granted.

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

Yours sincerely

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Jordan McArthur Company Secretary