PENINSULA ENERGY LIMITED — Director's Dealing 2017

Dec 18, 2017

Appendix 3Y

Rule 3.19A.2

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:	Peninsula Energy Limited
ABN:	67 062 409 303

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	David Coyne
Date of last notice	30 June 2017

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 and Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Interest as a Beneficiary
Date of change	19 December 2017
No. of securities held prior to change	David Coyne- 133,454 Ordinary Fully Paid SharesCoyne Family Superfund- 39,141 Ordinary Fully Paid Shares- 14,843 PENOD Options exercisable at $2.00 on orbefore 31 December 2018.
Class	(i)Ordinary Shares(ii)Unlisted Options exercisable at $0.50 on orbefore 30 November 2022
Number acquired	(i)38,542(ii)450,000
Number disposed	Nil

+ See chapter 19 for defined terms.

Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	(i)$18,072 (based on closing price of Peninsulashares at 18/12)(ii)$85,770 (as per independent valuation by RSMBird Cameron as disclosed in Notice of Meetingdispatched to shareholders on 27 October2017)
No. of securities held after change	David Coyne- 171,996 Ordinary Fully Paid SharesCoyne Family Superfund- 39,141 Ordinary Fully Paid Shares- 14,843 PENOD Options exercisable at $2.00 on orbefore 31 December 2018.Peninsula Energy LTIP Pty Ltd ATFPeninsula Energy Limited Employee Share PlansTrust- 450,000 Unlisted Options exercisable at $0.50 on orbefore 30 November 2022.
Natureof changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	(i)Issue of Restricted Share Units (RSUs) thathave vested to Mr Coyneunder theCompany's Long-Term Incentive Plan.(ii)Issue of unlisted director incentive options toMr Coyne as approved at the AnnualGeneral Meeting of the Company on 29November 2017.

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

+ See chapter 19 for defined terms.

Interest acquired	N/A
Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation	N/A
Interest after change	N/A

Part 3 – +Closed period

Were the interests in the securities or contracts detailedabove traded during a +closed periodwhere prior writtenclearance was required?	No
If so, was prior written clearance provided to allow the tradeto proceed during this period?	N/A
If prior written clearance was provided, on what date was thisprovided?	N/A

+ See chapter 19 for defined terms.