ELEMENT 25 LIMITED — Director's Dealing 2022

Nov 27, 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	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	Justin Brown
Date of last notice	23 November 2021

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)–(d)Indirect
Nature of indirect interest	(b) Held by Aradia Ventures Pty Ltd, a company associated
(including registered holder)	with Mr Brown
Note: Provide details of the circumstances giving rise to the relevant interest.	(c) Held by Mr Brown’s spouse (d) Held by Aradia SF Pty Ltd , a
	company associated with Mr Brown
Date of change	21 November 2022 & 25 November 2022
No. of securities held prior to change	(a) 148,215 Ordinary fully paid shares
	(b) 6,798,215 Ordinary fully paid shares
	600,000 Unlisted options (35.5 cents, expiry 28/11/2022)
	1,000,000 Unlisted options (26.1 cents, expiry 28/11/2023)
	1,000,000 Unlisted options (27.3 cents, expiry 20/11/2024)
	500,000 Unlisted options ($1.209, expiry 4/11/2025)
	(c) 98,215 Ordinary fully paid shares
	(d) 360,715 Ordinary fully paid shares
Class	(a) Unlisted options
	Ordinary fully paid shares
Number acquired	(a) 600,000 Ordinary fully paid shares
	500,000 Unlisted options
Number disposed	(a) 600,000 Unlisted options
Value/Consideration	(a) 600,000 Ordinary fully paid shares $213,000
Note: If consideration is non-cash, provide details and estimated valuation	500,000 Unlisted options ($1.58, expiry 25/11/2027)

• 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) 148,215 Ordinary fully paid shares
	(b) 7,398,215 Ordinary fully paid shares
	600,000 Unlisted options (35.5 cents, expiry 28/11/2022)
	1,000,000 Unlisted options (26.1 cents, expiry 28/11/2023)
	1,000,000 Unlisted options (27.3 cents, expiry 20/11/2024)
	500,000 Unlisted options ($1.209, expiry 4/11/2025)
	500,000 Unlisted options ($1.58, expiry 25/11/2027)
	(c) 98,215 Ordinary fully paid shares
	(d) 360,715 Ordinary fully paid shares
Nature of change	Exercise of unlisted options ($0.355, expiry 28/11/2022).
Example: on-market trade, off-market trade, exercise of	Issue of 500,000 unlisted options on the terms set out in the
options, issue of securities under dividend reinvestment plan, participation in buy-back	Notice of AGM provided to shareholders on 24 October 2022 and upon receiving of shareholder approval at the Company’s
	AGM held 25 November 2022.

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	N/A
(if issued securities)
Date of change	N/A
No. and class of securities to which	N/A
interest related prior to change
Note: Details are only required for a contract in
relation to which the interest has changed
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration	N/A
Note: If consideration is non-cash, provide details and
an estimated valuation
Interest after change	N/A

Part 3 –[+] Closed period

Part 3 –+Closedperiod
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	N/A
trade to proceed during this period?
If prior written clearance was provided, on what date was	N/A
this provided?

Authorised for release by:

Michael Jordon Company Secretary 25 November 2022

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011