AUSTRALIAN VANADIUM LIMITED — Director's Dealing 2022

Dec 20, 2022

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.

We (the entity) give ASX the followingthe director for the purposes of section	information under listing rule 3.19A.2 and as agent for205G of the Corporations Act.
Name of Director	Vincent James Algar
Date of last notice	3 December 2020

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	Vincent James Algar & Isobel Vera Legh
(including registered holder)	Algar
Note: Provide details of the circumstances giving rise to the relevant
interest.
Date of change	21 December 2022
No. of securities held prior to change	Direct
	6,400,000 fully paid ordinary shares
	48,000,000 performance rights
	Indirect
	1,266,436 fully paid ordinary shares
Class	Ordinary Shares
	Performance Rights
Number acquired	48,000,000 fully paid ordinary shares
Number disposed	48,000,000 performance rights (conversion)
Value/Consideration	Estimated value - $1,152,000
Note: If consideration is non-cash, provide details and estimated
valuation

• 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 54,400,000 fully paid ordinary shares Indirect 1,266,436 fully paid ordinary shares Nature of change Conversion on exercise of performance Example: on-market trade, off-market trade, exercise of options, rights, following satisfaction of vesting issue of securities under dividend reinvestment plan, participation in conditions as announced on 14 April 2022 . buy-back

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.

==> picture [434 x 307] intentionally omitted <==

----- Start of picture text ----- Detail of contract -Nature of interest --Name of registered holder(if issued securities)-Date of changeNo. and class of securities to which -interest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed-Interest acquired-Interest disposedValue/Consideration -Note: If consideration is non-cash, provide detailsand an estimated valuation-Interest after change----- End of picture text -----

Part 3 –[+] Closed period

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

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011