ASKARI METALS LIMITED — Director's Dealing 2024

Nov 20, 2024

ASX: AS2

Askari Metals Limited ( ASX: AS2 ) (“ Askari ” or “ Company ”) wishes to inform shareholders and the market that it has identified multiple breaches of its Share Trading Policy by its Managing Director, Mr Gino D’Anna.

These breaches involved transactions in the Company's shares during designated closed periods and/or without the requisite prior approvals mandated by the Company's internal policies.

Mr D’Anna has advised that the breaches occurred, in essence, due to administrative failings on his part to monitor share trading by one of his controlled entities.

An Appendix 3Y for Mr D’Anna is attached to this announcement.

The Company has taken the following steps to address this matter and ensure it does not recur:

1. Immediate Action Taken

The breaches were promptly reported to the Company's Board of Directors.

The Managing Director has been formally counselled, and his trading activity is now subject to heightened oversight.

2. Notification to Regulators

In compliance with the Company's obligations, the matter has been self-reported to the Australian Securities Exchange.

3. Review and Strengthening of Policies

The Company’s lawyers have been engaged to conduct a comprehensive review of the Company's Share Trading Policy and governance framework.

The updated Share Trading Policy will introduce more stringent approval processes and mandatory training for all directors, officers, and key personnel.

4. Enhanced Monitoring and Reporting

A dedicated compliance officer has been appointed to monitor adherence to trading policies and ensure all transactions are reviewed and approved appropriately.

ACN 646 034 460 I askarimetals.com

ASX: AS2

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ASX RELEASE
21 November 2024
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An automated notification system is being implemented to flag potential non-compliance with trading blackout periods.

The Company reaffirms its commitment to the highest standards of governance, transparency, and accountability. These breaches, while serious, have been thoroughly investigated and addressed. The Company believes that the actions taken will significantly mitigate the risk of recurrence.

The Board acknowledges the importance of maintaining the trust of its shareholders and the integrity of the market. We sincerely regret any concern this matter may have caused and will continue to keep shareholders informed of any material developments.

This announcement has been authorised by the board of directors of the Company.

FOR FURTHER INFORMATION PLEASE CONTACT

INVESTORS

Gino D’Anna

MANAGING DIRECTOR

• M. +61 400 408 878

• E. gino@askarimetals.com

ABOUT ASKARI METALS

Askari Metals is a focused Southern African exploration company. The Company is actively exploring and developing its Uis Lithium Project in Namibia located along the Cape-Cross – Uis Pegmatite Belt of Central Western Namibia. The Uis project is located within 2.5 km from the operating Uis Tin-Tantalum-Lithium Mine which is currently operated by Andrada Mining Ltd and is favourably located with the deep water port of Walvis Bay being less than 230 km away from the Uis project, serviced by all-weather sealed roads. In March 2023, the Company welcomed Lithium industry giant Huayou Cobalt onto the register who remains supportive of the Company’s ongoing exploration initiatives.

The Company has also recently acquired the Matemanga Uranium Project in Southern Tanzania which is strategically located less than 70km south of the world-class Nyota Uranium Mine. Askari Metals is actively engaged in due diligence to acquire further uranium projects in this emerging tier-1 uranium province.

The Company is currently assessing its options for a divestment strategy of the Australian projects which includes highly prospective gold, copper, lithium and REE projects.

For more information please visit: www.askarimetals.com

ASX: AS2

ACN 646 034 460 I askarimetals.com

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 Askari Metals Limited ABN 39 646 034 460

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	Gino D’Anna
Date of last notice	14 March 2024

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.	Gino D’Anna Rachel D’Anna
Date of change	1) “Refer to Schedule 1 below” 2) 8 November 2024
No. of securities held prior to change	7,738,300 Fully Paid Ordinary Shares (The Appendix 3Y lodged on the 14 March 2024 has the incorrect closing balance – this has now been adjusted to reflect the actual closing balance prior to the changes as disclosed under Schedule 1 below) 5,350,000 Performance Rights 2,000,301 Listed Options (AS2O)
Class	1) Fully Paid Ordinary Shares 2) Options exercisable at $0.065 expiring 31 December 2027
Number acquired	1) “Refer to Schedule 1 below” 2) 250,000

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Number disposed	-
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	1) “Refer to Schedule 1 below” 2) Nil
No. of securities held after change	8,523,300 Fully Paid Ordinary Shares 5,350,000 Performance Rights 2,000,301 Listed Options (AS2O) 250,000 Unlisted Options exercisable at $0.065 expiring 31 December 2027
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	1) On Market Trade 2) Issued pursuant to Resolution 19 approved by shareholders at General Meeting– 25 October 2024

Part 2 – Change of director’s interests in contracts

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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 -
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Part 3 – ~~[+]~~ Closed period

Were the interests in the securities or contracts detailed 1) Refer to details provided on above traded during a[+] closed period where prior written the cover announcement clearance was required? 2) No

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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?	-

SCHEDULE 1 – TRADING DETAILS

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Date Description Number of Shares Amount
14-Mar-24 On Market Trade 18,781 $ 1,596.39
15-Mar-24 On Market Trade 1,219 $ 103.62
3-Apr-24 On Market Trade 30,000 $ 1,560.00
17-May-24 On Market Trade 30,000 $ 1,510.29
20-May-24 On Market Trade 15,000 $ 782.96
15-Jul-24 On Market Trade 80,000 $ 3,680.00
30-Jul-24 On Market Trade 75,000 $ 2,675.00
5-Aug-24 On Market Trade 50,000 $ 1,300.00
8-Aug-24 On Market Trade 45,000 $ 1,275.00
13-Aug-24 On Market Trade 30,000 $ 660.00
19-Aug-24 On Market Trade 15,000 $ 315.00
10-Sep-24 On Market Trade 100,000 $ 1,900.00
12-Sep-24 On Market Trade 50,000 $ 900.00
20-Sep-24 On Market Trade 50,000 $ 944.00
23-Sep-24 On Market Trade 50,000 $ 950.00
26-Sep-24 On Market Trade 50,000 $ 1,006.07
27-Sep-24 On Market Trade 40,000 $ 802.07
4-Oct-24 On Market Trade 15,000 $ 450.00
21-Oct-24 On Market Trade 15,000 $ 480.00
30-Oct-24 On Market Trade 10,000 $ 300.00
7-Nov-24 On Market Trade 15,000 $ 390.00
785,000 $ 23,580.40
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• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3