ELEMENT 25 LIMITED — Director's Dealing 2021

May 25, 2021

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	ELEMENT 25 LIMITED
ABN	16 119 711 929

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	Seamus Cornelius
Date of last notice	5 November 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	(a) Direct(b) Indirect(c) Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest.	(b) Held by Sino West Assets Limited, a company associatedwith Mr Cornelius(c) Held by Sino West Assets Pty Ltd, a company associatedwith Mr Cornelius
Date of change	26 May 2021
No. of securities held prior to change	(a) 3,045,548 Ordinary fully paid shares500,000 Unlisted options (20 cents, expiry 24/11/2021)300,000 Unlisted options (35.5 cents, expiry 28/11/2022)500,000 Unlisted options (26.1 cents, expiry 28/11/2023)500,000 Unlisted options (27.3 cents, expiry 20/11/2024)250,000 Unlisted options ($1.209, expiry 4/11/2025)(b) 2,709,629 Ordinary fully paid shares
Class	Ordinary fully paid shares
Number acquired	(c) 2,509,629
Number disposed	(b) 2,509,629
Value/ConsiderationNote: If consideration is non-cash, provide details andestimated valuation	$2.15 per share

• 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	(a) 3,045,548 Ordinary fully paid shares500,000 Unlisted options (20 cents, expiry 24/11/2021)300,000 Unlisted options (35.5 cents, expiry 28/11/2022)500,000 Unlisted options (26.1 cents, expiry 28/11/2023)500,000 Unlisted options (27.3 cents, expiry 20/11/2024)250,000 Unlisted options ($1.209, expiry 4/11/2025)(b) 200,000 Ordinary fully paid shares(c) 2,509,629 Ordinary fully paid shares
Nature of changeExample: on-market trade, off-market trade, exercise ofoptions, issue of securities under dividend reinvestment plan,participation in buy-back	Off market transfer

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	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 to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	No
If so, was prior written clearance provided to allow thetrade to proceed during this period?	N/A
If prior written clearance was provided, on what date wasthis provided?	N/A

Authorised for release by:

Melissa Chapman Joint Company Secretary 26 May 2021

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011