FALCON METALS LTD — Director's Dealing 2022

May 1, 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	Falcon Metals Limited
ABN	87 651 893 097

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.

irector for the purposes of section 205G of	the Corporations Act.
Name of Director	Timothy Shaun Markwell
Date of last notice	13 April 2022

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	1. Oodouri Kouen Pty Ltd <Markwell Family A/C>
(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest.	(director and beneficiary)2. Gallery Vincent Pty Ltd
	(spouse is director and shareholder)
Date of change	2 May 2022
No. of securities held prior to change	1. 885,000 Unlisted Options exercisable at $0.75,
	vesting 15 June 2023 and expiring 15
	December 2024 (Class A)
	885,000 Unlisted Options exercisable at $0.75,
	vesting 15 December 2023 and expiring
	15 December 2024 (Class B)
	885,000 Unlisted Options exercisable at $0.75,
	vesting 15 June 2023 and expiring 15
	December 2025 (Class C)
	885,000 Unlisted Options exercisable at $0.75,
	vesting 15 December 2024 expiring 15
	December 2025 (Class D)
	2. 101,022 Fully Paid Ordinary Shares

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Class	Fully Paid Ordinary Shares
Number acquired	31,250
Number disposed	-
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$10,000.00
No. of securities held after change	1. 885,000 Unlisted Options exercisable at $0.75,vesting 15 June 2023 and expiring 15December 2024 (Class A)885,000 Unlisted Options exercisable at $0.75,vesting 15 December 2023 and expiring15 December 2024 (Class B)885,000 Unlisted Options exercisable at $0.75,vesting 15 June 2023 and expiring 15December 2025 (Class C)885,000 Unlisted Options exercisable at $0.75,vesting 15 December 2024 expiring 15December 2025 (Class D)2. 132,272 Fully Paid Ordinary Shares
Nature of changeExample: on-market trade, off-market trade, exercise of options,issueofsecuritiesunderdividendreinvestmentplan,participation in buy-back	On-market trade

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 in relationto which the interest has changed	n/a
Interest acquired	n/a

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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

art 3 –+Closed period
Were the interests in the securities or contracts detailed above	No
traded during a+closed period where prior written clearance
was required?
If so, was prior written clearance provided to allow the trade to	n/a
proceed during this period?
If prior written clearance was provided, on what date was this	n/a
provided?

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3