Announcement PDF Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 1 / 8 Announcement Summary Entity name SULTAN RESOURCES LTD Announcement Type New announcement Date of this announcement 23/9/2026 The Proposed issue is: Total number of +securities proposed to be issued for a placement or other type of issue ASX +security code +Security description Maximum Number of +securities to be issued New class-code to be confirmed OPTION EXPIRING 12-JULY-2030 EX $0.03 73,111,111 New class-code to be confirmed OPTION EXPIRING 12-JULY-2030 EX $0.03 40,000,000 SLZO OPTION EXPIRING 12-MAR-2027 73,111,111 SLZ ORDINARY FULLY PAID 146,222,222 Proposed +issue date 1/10/2026 Refer to next page for full details of the announcement A placement or other type of issue Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 2 / 8 Part 1 - Entity and announcement details 1.1 Name of +Entity SULTAN RESOURCES LTD We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules. If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation). 1.2 Registered Number Type ACN Registration Number 623652522 1.3 ASX issuer code SLZ 1.4 The announcement is 1.5 Date of this announcement 23/9/2026 1.6 The Proposed issue is: A placement or other type of issue New announcement Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 3 / 8 Part 7 - Details of proposed placement or other issue Part 7A - Conditions 7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis? 7A.1a Conditions Approval/Condition +Security holder approval Date for determination 23/11/2026 Is the date estimated or actual? ** Approval received/condition met? Comments The issue the of 73M Listed Placement Options and 73M Unlisted Placement Options, which are free attaching to the placement shares, is subject to shareholder approval at the upcoming AGM. The issue of the 40M Lead Manager Options is also subject to shareholder approval. Part 7B - Issue details Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Will the proposed issue of this +security include an offer of attaching +securities? Details of +securities proposed to be issued ASX +security code and description SLZ : ORDINARY FULLY PAID Number of +securities proposed to be issued 146,222,222 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? In what currency is the cash consideration being paid? AUD - Australian Dollar What is the issue price per +security? AUD 0.00900 Will these +securities rank equally in all respects from their issue date with Yes Yes Existing class Estimated Yes Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 4 / 8 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Attaching +Security Is the proposed attaching security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional +securities in a class that is already quoted or recorded by ASX)? Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX) Details of attaching +securities proposed to be issued ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them) Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1? Will the entity be seeking quotation of the 'new' class of +securities on ASX? ASX +security code New class-code to be confirmed +Security description OPTION EXPIRING 12-JULY-2030 EX $0.03 +Security type Options Number of +securities proposed to be issued 73,111,111 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? Please describe the consideration being provided for the +securities One option issued for every 2 placement shares subscribed for. Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 438,666.000000 Will all the +securities issued in this class rank equally in all respects from their issue date? Options details +Security currency AUD - Australian Dollar Exercise price AUD 0.0300 Expiry date 12/7/2030 Details of the type of +security that will be issued if the option is exercised Yes No No No Existing class Existing class New class Yes Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 5 / 8 Details of the type of +security that will be issued if the option is exercised SLZ : ORDINARY FULLY PAID Number of securities that will be issued if the option is exercised One fully paid ordinary share (ASX:SLZ) Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement. Attaching +Security - Existing class (additional +securities in a class that is already quoted or recorded by ASX) Details of attaching +securities proposed to be issued ASX +security code and description SLZO : OPTION EXPIRING 12-MAR-2027 Number of +securities proposed to be issued 73,111,111 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? Please describe the consideration being provided for the +securities One option issued for every 2 placement shares subscribed for. Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 219,333.000000 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Will the proposed issue of this +security include an offer of attaching +securities? Details of +securities proposed to be issued ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them) Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1? Will the entity be seeking quotation of the 'new' class of +securities on ASX? ASX +security code +Security description No No No New class Yes No Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 6 / 8 ASX +security code New class-code to be confirmed +Security description OPTION EXPIRING 12-JULY-2030 EX $0.03 +Security type Options Number of +securities proposed to be issued 40,000,000 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? Please describe the consideration being provided for the +securities Options issued as fee to Lead Manager of the placement. Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 240,000.000000 Will all the +securities issued in this class rank equally in all respects from their issue date? Options details +Security currency AUD - Australian Dollar Exercise price AUD 0.0300 Expiry date 12/7/2030 Details of the type of +security that will be issued if the option is exercised SLZ : ORDINARY FULLY PAID Number of securities that will be issued if the option is exercised One fully paid ordinary share (ASX:SLZ) Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement. Part 7C - Timetable 7C.1 Proposed +issue date 1/10/2026 Yes No Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 7 / 8 Part 7D - Listing Rule requirements 7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? 7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? 7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1? 87,706,019 fully paid ordinary shares 7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? 7D.1c ( i ) How many +securities are proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A? 58,516,203 fully paid ordinary shares 7D.1c ( ii ) Please explain why the entity has chosen to do a placement rather than a +pro rata issue or an offer under a +security purchase plan in which existing ordinary +security holders would have been eligible to participate The Board decided to undertake a placement to new and existing sophisticated investors in order to raise the funds for the Company as expeditiously as possible taking into consideration market conditions. 7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? 7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? 7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? Part 7E - Fees and expenses 7E.1 Will there be a lead manager or broker to the proposed issue? 7E.1a Who is the lead manager/broker? Xcel Capital Pty Ltd 7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker? Fixed Lead Manager fee of $35,000 is payable at completion of the Offer, plus 6% of the total funds raised under the Placement. In addition, the Company will issue Xcel Capital Pty Ltd 40 million unlisted options exercisable at $0.03 and expiring 12 July 2030 7E.2 Is the proposed issue to be underwritten? 7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue No Yes No No No Yes Yes No No No No Yes Yes No Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 8 / 8 Part 7F - Further Information 7F.01 The purpose(s) for which the entity is issuing the securities Proceeds will be applied to the expansion of the Company's exploration portfolio, working capital, and initial exploration activities at the Kaalkop Copper-Gold project in Namibia, for which an exploration licence application has recently been lodged. 7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? 7F.2 Any other information the entity wishes to provide about the proposed issue 7F.3 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f) No The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f) No