KAISER REEF LIMITED — Director's Dealing 2024

May 21, 2024

Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial 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.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Steven Formica
Date of appointment	22 May 2024

Part 1 - Director’s relevant interests in securities of which the director is the registered holder 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.

Number & class of securities

Nil

• See chapter 19 for defined terms.

Appendix 3X Page 1

11/3/2002

Appendix 3X Initial Director’s Interest Notice

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature of interestNote: Provide details of the circumstances giving riseto the relevant interest.STEVSAND HOLDINGS PTYLTD <FORMICAHORTICULTURAL A/C>,an entity of which Mr Formica is aDirector and controlling shareholderSTEVSAND INVESTMENTS PTYLTD<STEVENFORMICAFAMILY A/C>,an entity of which Mr Formica is aDirector and controlling shareholderFORMICA INVESTMENTS PTYLTD <THE FORMICA FAMILYS/F A/C>,an entity of which Mr Formica is aDirector and controlling shareholder

Number & class of Securities(i) 1,000,000 fully paid ordinary shares(i) 3,731,250 fully paid ordinary shares(i) 575,000 fully paid ordinary shares(ii) 400,000 unlisted options exercisable at $0.30,expiring on or before 30 September2024

Part 3 – 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	Letter of Appointment
Nature of interest	Incentive securities
Name of registered holder(if issued securities)	-
No. and class of securities to whichinterest relates	•2,000,000 options expiring 4 years from thedate of issue and exercisable at $0.25 each,subject to shareholder approval.

• See chapter 19 for defined terms.

Appendix 3X Page 2

11/3/2002