LAKES BLUE ENERGY NL — Director's Dealing 2021

Jan 17, 2021

Lakes Oil N.L. ASX Announcement

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A.C.N. 004 247 214

Lakes Oil N.L.

ASX

Announcement and Media Release 18 January 2021

CHANGE OF DIRECTOR'S INTEREST NOTICE

The Directors of Lakes Oil NL ( Lakes Oil or Company ; ASX:LKO) attach an Appendix 3Y - Change of Director’s Interest Notice for Mr Richard Ash in relation to unlisted options held, that expired on 8 January 2021.

The Company notes that the lodgement of Appending 3Y was due within 5 business days of the change being 15 January 2021 and that the delay has been due to an administration oversight. The notices were prepared and lodged as soon as practicable once the Company became aware of the oversight.

The Company and Directors are aware of the requirements under ASX Listing Rule 3.19A and 3.19B. The administrative oversight has not affected the Company’s current arrangement for ensuring timely notification in accordance with the listing rules and the Company is confident that the arrangements it currently has in place are adequate and doesn’t believe that any additional steps are required to ensure ongoing compliance with listing rule 3.19B.

For further information.

Richard Ash Chairman Lakes Oil NL Ph: +61 3 9629 1566

This announcement is authorised by the Board of Directors of Lakes Oil NL

Registered Office: 100 Albert Road South Melbourne Victoria 3205 Ph: +61 3 9629 1566

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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 Lakes Oil NL ABN 62 004 247 214

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	Richard Ash
Date of last notice	21 October 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.

Note: In the case of a company, interests which come within paragraph (i) of the definition of notifiable interedisclosed in this part.Di idi i	Note: In the case of a company, interests which come within paragraph (i) of the definition of notifiable interedisclosed in this part.Di idi i	Note: In the case of a company, interests which come within paragraph (i) of the definition of notifiable interedisclosed in this part.Di idi i	Note: In the case of a company, interests which come within paragraph (i) of the definition of notifiable interedisclosed in this part.Di idi i	st of a director should be	st of a director should be
	Di idi i
	rect or nrect nterest		Direct & Indirect
	Nature of indirect interest(including registered holder): Provide details of the circumstances giving rise to the relevantinterest.		Sari Holdings Pty Ltd (Mr Ash is a beneficiarthis entity)	(Mr Ash is a beneficiar	y of
	Dates of change		8 January 2021
	No. of securities held prior to change		Direct26,820,000 Fully Paid Ordinary SharesIndirect236,111,140 Fully Paid Ordinary Shares2,940,000 Unlisted Options exercisable at $0.005(0.5 cents) per option, expiring 8 January 2021
	Class		Unlisted Options exercisable at $0.005 (0.5 cents)per option, expiring 8 January 2021
	Number acquired		-
	Number disposed/exercised		Indirect2,940,000 (Lapse of Options)

• See chapter 19 for defined terms.

Appendix 3Y Page 1

7/12/2011

Appendix 3Y Change of Director’s Interest Notice

Value/CNote: If convaluationNo. of se	Value/CNote: If convaluationNo. of se				ions lapsed)00 Fully Paid Ordinary Shares,140 Fully Paid Ordinary Shares
	Value/CNote: If convaluation	onsiderationsideration is non-cash, provide details and estimated		Nil (Opt	ions lapsed)
	No. of se	curities held after change		Direct26,820,0Indirect	00 Fully Paid Ordinary Shares,140 Fully Paid Ordinary Shares
				236,111
NatureExample: onissue of secubuy-backPart 2 –	NatureExample: onissue of secubuy-back	of change-market trade, off-market trade, exercise of options,rities under dividend reinvestment plan, participation in		Lapse oexpiry d	f options being not exercised before theate
		Change of director’s interests in contrac
Note: In the case of a company, interests which come within paragraph (ii) of the definition of notifiable interest of a director should be

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 –+Closed period
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	N/A
was this provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

7/12/2011