ADAVALE RESOURCES LIMITED — Director's Dealing 2025

Dec 7, 2025

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 Adavale Resources Limited ABN 96 008 719 015

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	Allan Ritchie
Date of last notice	3 October 2025

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	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	RAAR Capital Group Pty Ltd Ritchie Capital Pty Ltd Fund A/C> RFF Capital Pty Ltd A/C> (Entities that Mr Ritchie is a beneficiary) Equity Plan Services Pty Ltd – Adavale Resources Rights Share Trust (a trust which Mr Ritchie is a beneficiary)
Date of change	4 December 2025

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	6,945,297 Fully Paid Ordinary Shares 37,225 Listed Options exercisable at $0.60 each expiring 31 December 2025 1,374,999 Listed Options exercisable at $0.10 each expiring 31 December 2027 2,142,857 Listed Options exercisable at $0.035 each expiring 30 June 2028 165,000 Class B(i) Performance Rights expiring 31 December 2025 150,000 Class C(i) Performance Rights expiring 31 December 2026 75,000 Class D(i) Performance Rights expiring 31 December 2026 3,000,000 Performance Rights expiring 23 January 2028
Class	Performance Rights
Number acquired	7,500,000 Performance Rights
Number disposed	3,000,000 Performance Rights expiring 23 January2028
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	-

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change

6,945,297 Fully Paid Ordinary Shares 37,225 Listed Options exercisable at $0.60 each expiring 31 December 2025 1,374,999 Listed Options exercisable at $0.10 each expiring 31 December 2027 2,142,857 Listed Options exercisable at $0.035 each expiring 30 June 2028 165,000 Class B(i) Performance Rights expiring 31 December 2025 150,000 Class C(i) Performance Rights expiring 31 December 2026 75,000 Class D(i) Performance Rights expiring 31 December 2026 3,000,000 Class A Performance Rights expiring 4 December 2027 2,250,000 Class B Performance Rights expiring 4 December 2028 2,250,000 Class C Performance Rights expiring 4 December 2029

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

Issued as approved by shareholders at the General Meeting. Cancellation of Performance Rights as previouslyissued.

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.

be disclosed in thispart.
Detail of contract	-
Nature of interest	-
Name of registered holder (if issued securities)	-
Date of change	-
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	-
Interest acquired	-

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Interest disposed	-
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	-
Interest after change	-

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	-
If prior written clearance was provided, on what date was this provided?	-

• See chapter 19 for defined terms.

Appendix 3Y Page 4

01/01/2011

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 Adavale Resources Limited ABN 96 008 719 015

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	David Ward
Date of last notice	3 October 2025

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 & Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Equity Plan Services Pty Ltd – Adavale Resources Rights Share Trust (a trust which Mr Ward is a beneficiary) David Anthony Ward + Ms Jennifer Ann Nash (a trust which Mr Ward is a beneficiary)
Date of change	4 December 2025
No. of securities held prior to change	2,430,000 Fully Paid Ordinary Shares 1,000,000 Listed Options exercisable at $0.035 each expiring 30 June 2028 1,500,000 Performance Rights expiring 23 January 2028
Class	Performance Rights
Number acquired	7,500,000 Performance Rights

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number disposed	1,500,000 Performance Rights expiring 23 January2028
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	-
No. of securities held after change	2,430,000 Fully Paid Ordinary Shares 1,000,000 Listed Options exercisable at $0.035 each expiring 30 June 2028 3,000,000 Class A Performance Rights expiring 4 December 2027 2,250,000 Class B Performance Rights expiring 4 December 2028 2,250,000 Class C Performance Rights expiring 4 December 2029
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Issued as approved by shareholders at the General Meeting. Cancellation of Performance Rights as previouslyissued.

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	-
Nature of interest	-
Name of registered holder (if issued securities)	-
Date of change	-
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	-
Interest acquired	-
Interest disposed	-
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	-
Interest after change	-

Part 3 –[+] Closed period

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	-
If prior written clearance was provided, on what date was this provided?	-

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3

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 Adavale Resources Limited ABN 96 008 719 015

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	Maurice Dominic Matich
Date of last notice	19 November 2025

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	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Cigar Shark Investments Pty Ltd (a Company where Mr Matich is a beneficiary) Equity Plan Services Pty Ltd – Adavale Resources Rights Share Trust (a trust which Mr Matich is a beneficiary)
Date of change	4 December 2025
No. of securities held prior to change	2,485,236 Fully Paid Ordinary Shares 716,666 Listed Options exercisable at $0.10 each expiring 31 December 2027 1,500,000 Performance Rights expiring 23 January 2028
Class	Performance Rights
Number acquired	5,000,000 Performance Rights
Number disposed	1,500,000 Performance Rights expiring 23 January 2028

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	-
No. of securities held after change	2,485,236 Fully Paid Ordinary Shares 716,666 Listed Options exercisable at $0.10 each expiring 31 December 2027 2,000,000 Class A Performance Rights expiring 4 December 2027 1,500,000 Class B Performance Rights expiring 4 December 2028 1,500,000 Class C Performance Rights expiring 4 December 2029
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Issued as approved by shareholders at the General Meeting. Cancellation of Performance Rights as previously issued.

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	-
Nature of interest	-
Name of registered holder (if issued securities)	-
Date of change	-
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	-
Interest acquired	-
Interest disposed	-
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	-
Interest after change	-

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	-
If prior written clearance was provided, on what date was this provided?	-

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3