AMAERO LTD — Director's Dealing 2023

May 15, 2023

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 Amareo International Limited ABN 82 633 541 634

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	Hank Holland
Date of last notice	9 December 2022

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 & Direct
Nature of indirect interest	Pegasus Growth Capital Fund I; and
(including registered holder)	Hank Holland
Note: Provide details of the circumstances giving rise to the relevant
interest.
Date of change	12 May 2023
No. of securities held prior to change	163,524,968 Fully Paid Ordinary Shares;
	18,673,464 Options Expiring 1 August 2025,
	ex. $0.42;
	126,178,039ListedOptions	expiring	2
	December 2025 ex. $0.18
Class	Listed Options (3DAO) held directly by Hank
	Holland
Number acquired	8,373,134 Listed Options (3DAO)
Number disposed	Nil
Value/Consideration	$0.03 per Option. Total consideration		of
Note: If consideration is non-cash, provide details and estimated valuation	$251,194.02.

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	163,524,968 Fully Paid Ordinary Shares;18,673,464 Options Expiring 1 August 2025,ex. $0.42;
	126,178,039ListedOptionsexpiring2December 2025 ex. $0.18; and8,373,134 Listed Options held directly.
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Off-Market Trade

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.

	or’s interests in contracts	or’s interests in contracts	or’s interests in contracts
	me within paragraph (ii) of the definition of “notifiable interest of a director” sho
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 towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed		N/A
Interest acquired		N/A
Interest disposed		N/A
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation		N/A
Interest after change		N/A

Part 3 –[+] Closed period

Were the interests in the securities or contracts No detailed above traded during a[+] closed period where prior written clearance was required?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

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Appendix 3Y Change of Director’s Interest Notice

If so, was prior written clearance provided to allowthe trade to proceed during this period?	N/A
If prior written clearance was provided, on whatdate was this provided?	N/A

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3