ADAVALE RESOURCES LIMITED — Director's Dealing 2026

Jan 1, 2026

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	8 December 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	RAAR Capital Group Pty Ltd
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevantinterest.	Ritchie Capital Pty Ltd <Allan Ritchie Super
	Fund A/C>
	RFF Capital Pty Ltd <Ritchie Family Fund
	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	31 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	No. of securities held prior to change	No. of securities held prior to change	No. of securities held prior to change	No. of securities held prior to change	No. of securities held prior to change	6,945,297 Fully Paid Ordinary Shares37,225 Listed Options exercisable at $0.60each expiring 31 December 20251,374,999 Listed Options exercisable at$0.10 each expiring 31 December 20272,142,857 Listed Options exercisable at$0.035 each expiring 30 June 2028165,000 Class B(i) Performance Rightsexpiring 31 December 2025150,000 Class C(i) Performance Rightsexpiring 31 December 202675,000 Class D(i) Performance Rightsexpiring 31 December 20263,000,000ClassAPerformanceRightsexpiring 4 December 20272,250,000ClassBPerformanceRightsexpiring 4 December 20282,250,000ClassCPerformanceRightsexpiring 4 December 2029	6,945,297 Fully Paid Ordinary Shares37,225 Listed Options exercisable at $0.60each expiring 31 December 20251,374,999 Listed Options exercisable at$0.10 each expiring 31 December 20272,142,857 Listed Options exercisable at$0.035 each expiring 30 June 2028165,000 Class B(i) Performance Rightsexpiring 31 December 2025150,000 Class C(i) Performance Rightsexpiring 31 December 202675,000 Class D(i) Performance Rightsexpiring 31 December 20263,000,000ClassAPerformanceRightsexpiring 4 December 20272,250,000ClassBPerformanceRightsexpiring 4 December 20282,250,000ClassCPerformanceRightsexpiring 4 December 2029	6,945,297 Fully Paid Ordinary Shares37,225 Listed Options exercisable at $0.60each expiring 31 December 20251,374,999 Listed Options exercisable at$0.10 each expiring 31 December 20272,142,857 Listed Options exercisable at$0.035 each expiring 30 June 2028165,000 Class B(i) Performance Rightsexpiring 31 December 2025150,000 Class C(i) Performance Rightsexpiring 31 December 202675,000 Class D(i) Performance Rightsexpiring 31 December 20263,000,000ClassAPerformanceRightsexpiring 4 December 20272,250,000ClassBPerformanceRightsexpiring 4 December 20282,250,000ClassCPerformanceRightsexpiring 4 December 2029	6,945,297 Fully Paid Ordinary Shares37,225 Listed Options exercisable at $0.60each expiring 31 December 20251,374,999 Listed Options exercisable at$0.10 each expiring 31 December 20272,142,857 Listed Options exercisable at$0.035 each expiring 30 June 2028165,000 Class B(i) Performance Rightsexpiring 31 December 2025150,000 Class C(i) Performance Rightsexpiring 31 December 202675,000 Class D(i) Performance Rightsexpiring 31 December 20263,000,000ClassAPerformanceRightsexpiring 4 December 20272,250,000ClassBPerformanceRightsexpiring 4 December 20282,250,000ClassCPerformanceRightsexpiring 4 December 2029	6,945,297 Fully Paid Ordinary Shares37,225 Listed Options exercisable at $0.60each expiring 31 December 20251,374,999 Listed Options exercisable at$0.10 each expiring 31 December 20272,142,857 Listed Options exercisable at$0.035 each expiring 30 June 2028165,000 Class B(i) Performance Rightsexpiring 31 December 2025150,000 Class C(i) Performance Rightsexpiring 31 December 202675,000 Class D(i) Performance Rightsexpiring 31 December 20263,000,000ClassAPerformanceRightsexpiring 4 December 20272,250,000ClassBPerformanceRightsexpiring 4 December 20282,250,000ClassCPerformanceRightsexpiring 4 December 2029	6,945,297 Fully Paid Ordinary Shares37,225 Listed Options exercisable at $0.60each expiring 31 December 20251,374,999 Listed Options exercisable at$0.10 each expiring 31 December 20272,142,857 Listed Options exercisable at$0.035 each expiring 30 June 2028165,000 Class B(i) Performance Rightsexpiring 31 December 2025150,000 Class C(i) Performance Rightsexpiring 31 December 202675,000 Class D(i) Performance Rightsexpiring 31 December 20263,000,000ClassAPerformanceRightsexpiring 4 December 20272,250,000ClassBPerformanceRightsexpiring 4 December 20282,250,000ClassCPerformanceRightsexpiring 4 December 2029
Class						1) Listed Options exercisable at $0.60each expiring 31 December 20252) PerformanceRightsexpiring31December 2025
						e2) PD	ach experformecemb	iring 31 DecanceRighter 2025	ember 2sexpiri	025ng31
	Numb	er acquired				-
	Numb	er disposed				1) 32) 1	7,22565,000
VNv	alue/ote: Ialuatio	Consideratiof considerationn	nis non-cash, provi	de details and estim	ated	-

• 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 Shares1,374,999 Listed Options exercisable at$0.10 each expiring 31 December 20272,142,857 Listed Options exercisable at$0.035 each expiring 30 June 2028150,000 Class C(i) Performance Rightsexpiring 31 December 202675,000 Class D(i) Performance Rightsexpiring 31 December 20263,000,000ClassAPerformanceRightsexpiring 4 December 20272,250,000ClassBPerformanceRightsexpiring 4 December 20282,250,000ClassCPerformanceRightsexpiring 4 December 2029

Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back

Lapsing of Options and Performance Rightsdue to expiry.

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 whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed	-
Interest acquired	-
Interest disposed	-
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation	-
Interest after change	-

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3

Appendix 3Y Change of Director’s Interest Notice

Part 3 –[+] Closed period

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

• See chapter 19 for defined terms.

Appendix 3Y Page 4

01/01/2011