XSTATE RESOURCES LIMITED — Share Issue/Capital Change 2023

Feb 9, 2023

Notification of Consolidation/Split

==> picture [21 x 22] intentionally omitted <==

Announcement Summary

Entity name

XSTATE RESOURCES LIMITED

Applicable security for the reorganisation

XST ORDINARY FULLY PAID XSTAO OPTION EXPIRING 31-JAN-2024 EX $0.005

Announcement Type

New Announcement

Date of this announcement

9/2/2023

Reorganisation type

Security consolidation

Trading in the post consolidation or split +securities commences on a deferred settlement basis

15/3/2023

Record Date

16/3/2023

Issue Date

24/3/2023

Refer to below for full details of the announcement

Notification of Consolidation/Split

1 / 5

Notification of Consolidation/Split

==> picture [21 x 22] intentionally omitted <==

Announcement Details

Part 1 - Entity and announcement details

1.1 Name of +Entity

XSTATE RESOURCES LIMITED 1.2 Registered Number Type Registration Number ABN 96009217154 1.3 ASX issuer code XST 1.4 The announcement is New announcement

1.5 Date of this announcement

9/2/2023

1.6 Securities affected by the consolidation or split

ASX +Security Code ASX +Security Description XST ORDINARY FULLY PAID XSTAO OPTION EXPIRING 31-JAN-2024 EX $0.005

Part 2 - Approvals

2.1 Are any of the below approvals required for the consolidation or split before business day 0 of the timetable? Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity required to be given/met before business day 0 of the timetable for the consolidation or split.

==> picture [8 x 8] intentionally omitted <==

Yes

2.2 Approvals

Notification of Consolidation/Split

2 / 5

Notification of Consolidation/Split

==> picture [21 x 22] intentionally omitted <==

Approval/Condition

Approval/Condition Date for determination Is the date estimated or Approval actual? received/condition met? +Security holder approval 13/3/2023 Actual

Comments

Part 3 - Consolidation or split timetable and details

3.1 +Record date

16/3/2023

3.2 Date of +security holder meeting

13/3/2023

3.2a Effective date of consolidation or split

13/3/2023

3.3 Last day for trading in the pre consolidation or split +securities

14/3/2023

3.4 Trading in the post consolidation or split +securities commences on a deferred settlement basis.

15/3/2023

3.5 Record date

16/3/2023

3.6 First day for entity to update its register and to send holding statements to +security holders reflecting the change in the number of +securities they hold.

17/3/2023

3.7 Last day for entity to update its register and send holding statements to +security holders reflecting the change in the number of +securities they hold and to notify ASX that this has occurred. (+Issue Date) 24/3/2023

3.8 Trading starts on a normal T+2 basis

27/3/2023

3.9 First settlement of trades conducted on a +deferred settlement basis and on a normal T+2 basis

29/3/2023

Part 4 - Event type and details

4.1 The event is +Security consolidation

Notification of Consolidation/Split

3 / 5

Notification of Consolidation/Split

==> picture [21 x 22] intentionally omitted <==

4.1a Consolidation ratio: the +securities will be consolidated on the basis that every

10

(pre-consolidation) +securities will be consolidated into

1

(post-consolidation) +security (/ies).

4.2 Scrip fraction rounding

Fractions rounded up to the next whole number

Part 5 - +Securities on issue before and after consolidation or split

5.1 +Securities on issue before and after the consolidation or split

ASX +Security Code	ASX +Security Description
XST	ORDINARY FULLY PAID
Quoted/unquoted	Number on issue pre	Number on issue post	Estimate/Actual
Quoted	consolidation or split	consolidation or split	Estimated
	3,215,181,651	321,518,165
ASX +Security Code	ASX +Security Description
XSTAO	OPTION EXPIRING 31-JAN-2024 EX $0.005
Quoted/unquoted	Number on issue pre	Number on issue post	Estimate/Actual
Unquoted	consolidation or split	consolidation or split	Estimated
	115,500,000	11,550,000
5.2 Exercise price of options
ASX +Security Code	ASX +Security Description
XSTAO	OPTION EXPIRING 31-JAN-2024 EX $0.005
Quoted/unquoted	Exercise price pre consolidation or Exercise price post		consolidation or
Unquoted	split	split
	AUD 0.00500000	AUD 0.05000000

Part 6 - Further information

6.1 Further information relating to the consolidation or split

Notification of Consolidation/Split

4 / 5

Notification of Consolidation/Split

==> picture [21 x 22] intentionally omitted <==

6.2 Additional information for inclusion in the Announcement Summary

Notification of Consolidation/Split

5 / 5