ANNUAL GENERAL

MEETING

05 November 2015

IMPORTANT INFORMATION - DISCLAIMER

This presentation has been prepared by Sun Resources NL ('Sun') for the purpose of providing a company and technical overview to interested parties to enable recipients to review the business activities of Sun. This presentation is limited in scope and is not intended to provide all available information regarding Sun. This presentation is not intended, and does not constitute an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any securities in any jurisdiction, and should not be relied upon as a representation of any matter that a potential investor should consider in evaluating Sun. Any statements, opinions, projections forecasts or other material contained in this document do not constitute any commitments, representations or warranties by Sun Resources NL or its directors, agents and employees. Except as required by law Sun Resources NL shall in no way be liable to any person or body for any loss, claim, or in connection with, the information contained in the document.

This presentation was prepared with due care and attention and the information contained herein is, to the best of Sun Resources NL's (Sun) knowledge, current as at the date of this presentation. This document includes certain statements, opinions, projections, forecasts and other material, which reflect various assumptions. The assumptions may or may not prove to be correct. Statements contained in this presentation, including but not limited to those regarding the possible or assumed future costs, performance, dividends, returns, production levels or rates, oil and gas prices, reserves, potential growth of Sun Resources NL, industry growth or other projections and any estimated company earnings are or may be forward looking statements. Such statements relate to future events and expectations and as such involve known and unknown risk and uncertainties, many of which are outside the control of Sun Resources NL. Actual results, actions and developments may differ materially from those expressed or implied by the statements in this presentation. All forward-looking statements or estimates made in this presentation are qualified by the foregoing cautionary statements. Investors are cautioned that forward-looking statements and estimates are not guarantees of future performance and accordingly, investors are cautioned not to rely on forward-looking statements or estimates due to their inherent uncertainty therein.

Recipients of the document must make their own independent investigations, consideration and evaluation. By accepting this document, the recipient agrees that if it proceeds further with its investigations, consideration or evaluation of investing in the company it shall make and rely solely upon its own investigations and inquiries and will not in any way rely upon the document. None of the information in this presentation can be reproduced without the permission of Sun Resources NL. Sun Resources NL recommends that potential investors consult their professional advisor/s as an investment in the company is considered to be speculative in nature. Nothing in this presentation should be construed as financial advice, whether personal or general, for the purposes of section 766B of the Corporations Act 2001. This presentation consists purely of factual information and does not involve or imply a recommendation of a statement of opinion in respect of whether to buy, sell or hold a financial product. This presentation does not take into account the objectives, financial situation or needs of any person, and independent personal advice should be obtained. The views expressed in this release contain information that has been derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy completeness or reliability of the information. This information should not be relied upon as a recommendation or forecast by Sun.

Any offering or solicitation to investors in the United States of America will be made only to qualified prospective investors pursuant to a prospectus or offering memorandum, each of which should be read in its entirety. To the extent applicable, any placement of securities will only be available to parties who are 'accredited investors' (as defined in Rule 501 promulgated pursuant to the Securities Act 1933, as amended) and who are interested in investing in the securities on their own behalf.

Neither the information in this presentation nor any other document relating to this presentation has been delivered for approval to the Financial Conduct Authority in the United Kingdom and no prospectus (within the meaning of section 85 of the Financial Services and Markets Act 2000, as amended ('FSMA')) has been published or is intended to be published. This presentation is issued on a confidential basis to 'qualified investors' (within the meaning of section 86(7) of FSMA) in the United Kingdom. This document should not be distributed, published or reproduced, in whole or in part, nor may its contents be disclosed by recipients to any other person in the United Kingdom.

SUN RESOURCES CORPORATE SNAPSHOT

Capital Structure:

Pre-Cap. Raising (699 million share Placement)

Top Five Shareholders

Recent Share Price / Volume History

Board of Directors

Notes:

Note: The top 20 shareholders, including Board, hold 47% of shares currently on issue.

1. Performance options convert into ordinary shares upon achievement of certain project milestones (these are detailed in Sun's Notice of General Meeting announced to ASX on 21 November 2011, and also Sun's announcement dated 27 July 2012).

2. Unlisted options award to staff and Directors of Sun Resources NL.

3. Un-audited cash balance, at 30 September 2015, pre-Placement that raised A$699,000

TACTICS TO PRESERVE VALUE AND DELIVER REVENUE

• Ongoing focus on Normangee Oil Project

  • Frack & flow-back is profitable at US$45 oil, forecasting $2.5-3 million in first year of flow-back

  • Seeking US$4 million from capital (JV) partner and/or debt /equity to facilitate operation

  • Will re-bid work programme including additional well interventions in SW Leona Oil Project to deliver efficiencies in fracking/completion costs

• Current footprint is focussed on [multiple] oil fairways in East Texas region

  • Primary objective of developing the Lower Woodbine target across Sun's portfolio

  • Lower Woodbine lateral well economics likely to be robust @ US$40 oil price with 40% reduction in drilling and completion ('D&C') costs

  • Opportunity to test second oil zone; the Buda-Georgetown 'bench' in Sun's core lease areas

  • Investigating vertical 'stack-frack' wells for profitable operations in US$45 oil environment

• Considering acquisition of conventional production asset

  • Delivers low risk US dollar revenue and financial stability until oil prices recover

  • Current forecast for oil price recovery is well in to 2016

• Cash Management

  • Executives receiving 50% of salary as shares; other employees 25%

  • $699,000 before costs raised by Bell Potter Securities Ltd