Options Offers and Cleansing Offers Prospectus

• Cleansing offer of up to 1,000 new shares at $0.033 per share
• Placement options offer of 17,070,707 new options to placement participants
• Broker options offer of 12,803,030 new options to joint lead managers

Xstate Resources Ltd has announced several offers in a prospectus dated 22 April 2026. The Cleansing Offer is an offer of up to 1,000 new Shares at an issue price of $0.033 per Share to raise up to $33. The Placement Options Offer is an offer of 17,070,707 new Options to Placement Participants on the basis of one free new Option for every three Shares subscribed for and issued under the Placement. The Broker Options Offer is an offer of 12,803,030 new Options to the Joint Lead Managers or their nominees, on the basis of one new Option for every four Placement Shares issued. The Consultant Options Offer is an offer of up to 6,000,000 Consultant Options to certain Consultants of the Company in satisfaction of amounts or obligations owed by the Company. The Offers are scheduled to open on 22 April 2026 and close on 24 April 2026, with the new Options expected to be issued on 2 June 2026 subject to shareholder approval at a General Meeting on 29 May 2026.