PERPETUAL RESOURCES LIMITED — Director's Dealing 2021

Apr 5, 2021

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: Perpetual Resources Limited ABN: 82 154 516 533

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 Robert John Benussi Date of last notice 22[nd] March 2021

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 (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	1.)Shares acquired in Benussi Rovigno Pty Ltd , which is a self-managed superannuation fund for which Mr. Benussi is a beneficiary 2.) Shares held in Intrepid Concepts Pty Ltd which Mr. Benussi is the Sole Director, shareholder and beneficiary
Date of change	30th-31stMarch 2021
No. of securities held prior to change	a.) 24,800,000 ordinary shares b.) 7,333,333 Performance shares (see Appendix for details)
Class	a) Ordinary Shares
Number acquired	1.) 250.000 ordinary shares
Number disposed	-

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	1.) $19,279.95 incl. costs
No. of securities held after change	a.) 25,050,000 ordinary shares b.) 7,333,333 Performance shares (see Appendix for details)
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	1) On market purchase

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 which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	n/a
Interest acquired	n/a
Interest disposed	n/a
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	n/a
Interest after change	n/a

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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 trade n/a to proceed during this period?

n/a

If prior written clearance was provided, on what date was this n/a provided?

Appendix

Details & Specifics of Performance Shares

Total Number of Performance Shares: 7 ,333,333

The Performance Shares and their respective vesting conditions are to be split evenly across four classes detailed below. Mr. Babarczy is allocated 25% of his entitlement to Performance Shares across each of Classes A, B, C, and D:

Class A

• (a) Will vest and convert on PEC announcing a JORC Inferred Resource of at least 50mt of white sands (minimum 99%SiO2) at Beharra.

• (b) Expiry date of 24 months from date of shareholder approval

Class B

• (a) Will vest and convert on the PEC Board successfully completing a formal study on the Beharra Project at either a Scoping Study or Pre-Feasibility Study level or higher (the “Study”)

• (b) The Study must have an assessed IRR of at least 12% for the Class B Shares to vest

• (c) Expiry date of 24 months from date of shareholder approval

Class C

• (a) Will vest and convert on PEC receiving a Mining License approval on any project within PEC’s current or future portfolio

• (b) Expiry date of 24 months from date of shareholder approval

Class D

• (a) Will vest and convert on first trial shipment of silica sand from any project within PEC’s current or future portfolio

• (b) Expiry date of 24 months from date of shareholder approval

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3