AUSTRALIAN VANADIUM LIMITED — Director's Dealing 2018

Feb 12, 2018

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	Australian Vanadium Ltd
ABN	90 116 221 740

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	Vincent James Algar
Date of last notice	12 July 2017

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 and Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.		Vincent James Algar & Isobel Vera Legh Algar
Date of change		-
No. of securities held prior to change		Direct 5,000,000 fully paid ordinary shares Indirect 571,129 fully paid ordinary shares 692,307 listed options (31/12/2018:$0.02)
Class		Fully paid ordinary shares
Number acquired		5,000,000
Number disposed		Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation		$Nil

• 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 after change		Direct 10,000,000 fully paid ordinary shares Indirect 571,129 fully paid ordinary shares 692,307 listed options (31/12/2018:$0.02)
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back		Conversion of Performance Rights

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	A. Each Performance Right converts to one ordinary fully paid share, subject to satisfaction of specified performance criteria as approved by shareholders on 20 November 2015. The Performance Rights expire on 2 February 2020. B. Each Performance Right (PR) converts to one ordinary fully paid share, subject to satisfaction of specified performance criteria as approved by shareholders on 12 June 2017. The Performance Rights have an expiry date of: 19 December 2019 – 7,000,000 PRs 19 December 2020 – 7,000,000 PRs 19 December 2021 – 7,000,000 PRs
Nature of interest	Unlisted Performance Rights
Name of registered holder (if issued securities)	Vincent James Algar
Date of change	13 February 2018
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	A. 5,000,000 B. 21,000,000
Interest acquired
Interest disposed	5,000,000
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	Nil – Conversion to fully paid ordinary shares
Interest after change	A. Nil B. 21,000,000

• 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?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3