BUBS AUSTRALIA LIMITED — Director's Dealing 2020

May 12, 2020

Bubs Australia Limited ACN 060 094 742 23-29 Nina Link, Dandenong South VIC 3175 Australia

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1800 2827 2878 (1800 BUBS AUST) info@bubsaustralia.com

Appendix 3Y: Change of Director’s Interest Notice

Melbourne 13 May 2020: Bubs Australia Limited (ASX: BUB ) advises that Mrs Kristy Carr has informed the Company that her Family Trust has sold 3,141,000 shares on 6 May 2020 and now holds 13,620,600 fully paid ordinary shares, plus 4,770,810 unlisted performance options.

Mrs Carr has advised Bubs Australia that the sale of the shares was to meet personal tax obligations due mid-May 2020.

After C2 Capital Partners, Mrs Carr remains the single largest shareholder in Bubs Australia, holding 2.43 percent of the issued share capital. Mrs. Carr has made no sales of shares in Bubs since May 2019 to acquire a new family home. The sale was made in accordance with the Company’s securities trading policy, including Board pre-trade approvals.

Mrs Carr advised the company that she believes strongly in the future prospects for Bubs and as a founding shareholder is fully aligned with the business growth agenda. She has no immediate plans to sell more shares.

The Appendix 3Y is attached to this announcement

Jay Stephenson Company Secretary

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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	BUBS AUSTRALIA LIMITED
ABN	060 094 742

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	Kristy-Lee Newland Carr
Date of last notice	14 May 2019

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.	Carr Family Pty Limited
Date of change	6 May 2020
No. of securities held prior to change	16,761,600 Ordinary Shares 4,770,810 Unlisted Options
Class	Shares
Number acquired	(i) Nil
Number disposed	3,141,000
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$0.9583 per Share
No. of securities held after change	Indirect 13,620,600 Ordinary Shares 4,770,810 Unlisted Options
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On Market Trade

• See chapter 19 for defined terms. 01/01/2011

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

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	-
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	-

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 2