ADAIRS LIMITED — Director's Dealing 2019

Dec 18, 2019

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity Adairs Limited ABN 50 147 375 451

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Michael Cherubino
Date of last notice	7 September 2018

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.
Date of change	26/10/201817/12/2019
No. of securities held prior to change	1,996,135 Ordinary Shares held by MichaelCherubino Investments Pty Ltd (ACN 128535 811) as trustee for the MichaelCherubino Investment Trust.62,000 Ordinary Shares held by ContessaNominees Pty Ltd (ACN 009 029 323) astrustee for Cherubino SuperannuationFund.882,000OptionsheldbyMichaelCherubino

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

	Class	Class	Class	Ordinary Options	Ordinary Options	Ordinary Options	Ordinary Options
	Number acquired
				315,000 optioLimited FY20MrCherubiincentive.400,000 optioLimited FY20MrCherubiincentive.	ns granted und19 Equity Inceno’sannualns granted und20 Equity Inceno’sannual	er the Adairsntive Plan aslongtermer the Adairsntive Plan aslongterm
	Number disposed			Nil
	Value/ConsideratiNote: If considerationvaluation	onis non-cash, provide d	etails and estimated	No amount isgrant of optio	payable by Mrns	Cherubino on
				Exercise pricgranted und	e on the 315,er the FY2019	000 optionslong term
				incentive planExercise pricgranted und l	is $2.40e on the 400,er the FY2020	000 optionslong term
				incentivepa	is$1.86
	No. of securities h	eld after change		1,996,135 OrdiCherubino In535 811) ash	nary Shares helvestments Ptytrustee for	d by MichaelLtd (ACN 128the Michael
				Cerubino In62,000 OrdinNominees Ptf	vestment Trust.ary Shares heldy Ltd (ACN 009Chbi S	by Contessa029 323) asi
				trustee orFund.1,597,000OChbi	eruno uptionsheld	perannuatonbyMichael
				eruno

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Nature of changeExample: on-market trade, off-market trade, exercise of options, issueof securities under dividend reinvestment plan, participation in buy-back

Issue of Options under Adairs LimitedEquity Incentive Plan as Mr Cherubino’slong term incentive.AdairsLimitedreceivedshareholderapproval to issue options to Mr Cherubino:•in respect of Mr Cherubino’s long termincentive for FY2019 on 26 October2018; and•in respect of Mr Cherubino’s long termincentive for FY2020 on 25 October2019.This Appendix 3y sets out the change in MrCherubino’s interests in respect of theabovegrants of options.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder(if issued securities)	N/A
Date of change	N/A
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3

Appendix 3Y Change of Director’s Interest Notice

Were the interests in the securities or contracts detailed abovetraded during a+closed period where prior written clearancewas required?	No
If so, was prior written clearance provided to allow the trade toproceed during this period?	N/A
If prior written clearance was provided, on what date was thisprovided?	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 4

01/01/2011