KAISER REEF LIMITED — Director's Dealing 2023

Aug 10, 2023

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 30/9/2001.

Name of entity	Kaiser Reef Limited
ABN	38 635 910 271

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	Jonathan Downes
Date of last notice	1 February 2023

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
Nature of indirect interest	Indirect (1)
(including registered holder)	Securities held by Kiandra Nominees Pty Ltd <JK
Note: Provide details of the circumstances giving rise to the relevantinterest.	Downes Family Trust>, a company associatedwith Mr Jonathan Downes
	Indirect (2)
	Katrina Downes, spouse of Mr Jonathan Downes
	Indirect (3)
	Securities held by Mr J C & Mrs K P Downes <J
	& K Downes Superfund A/C> a company
	associated with Mr Jonathan Downes
Date of change	10 August 2023

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	Direct100,000 fully paid ordinary sharesIndirect (1)3,200,000 fully paid ordinary shares2,000,000 options exercisable at $0.40 on or before31 January 2024Indirect (2)195,625 fully paid ordinary sharesIndirect (3)240,000 fully paid ordinary shares
Class	Fully Paid Ordinary Shares
Number acquired	100,000
Number disposed	-
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	$15,000
No. of securities held after change	Direct200,000 fully paid ordinary sharesIndirect (1)3,200,000 fully paid ordinary shares2,000,000 options exercisable at $0.40 on or before31 January 2024Indirect (2)195,625 fully paid ordinary sharesIndirect (3)240,000 fully paid ordinary shares
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, 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 Nature of interest

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

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

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

• See chapter 19 for defined terms.

Appendix 3Y Page 3

11/3/2002