POLARX LIMITED — Director's Dealing 2020

Mar 2, 2020

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ASX Announcement

3 March 2020

APPENDIX 3Y AND LATE LODGEMENT NOTICE

PolarX Limited (ASX: PXX) attaches a Change of Director Interest Notice for Frazer Tabeart in relation to an on‐market purchase today.

The notice also covers his participation in the rights issue which completed on 4 July 2019, with the late lodgment due to an administrative oversight.

The Company is satisfied that it has the necessary reporting and notification policies in place to ensure compliance with its disclosure obligations under ASX Listing Rules 3.19A and 3.19B and considers the late lodgement of the Appendix 3Y in relation to the rights issue to be an isolated incident.

Authorised by:

Ian Cunningham Company Secretary +61 8 6465 5500

PolarX Limited (ACN 161 615 783)

Suite 1 | 245 Churchill Avenue | Subiaco WA 6008 Australia Tel +61 8 6465 5500 | Fax +61 8 6465 5599 | E info@polarx.com.au www.polarx.com.au

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	PolarX Limited
ABN	76 161 615 783

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	Charles Frazer Tabeart
Date of last notice	21 December 2018

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 givingrise to the relevant interest.	Revenge Holdings Pty Ltd<Tabeart Family Superannuation Fund A/C>Beneficial interest
Date of change	1.4 July 20192.3 March 2020
No. of securities held prior to change	Direct3,447,368 Shares5,000,000 unlisted options (exercise price of$0.125 and expiry date 20 December 2021)Indirect655,905 shares (Indirect)
Class	Shares
Number acquired	1.253,027 (Direct) and 93,700 (Indirect)2.42,500 (Indirect)
Number disposed	Nil

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Value/Consideration 1. $0.08 per share Note: If consideration is non-cash, provide details 2. $0.023 per share and estimated valuation

No. of securities held after change Direct 3,700,395 Shares 5,000,000 December 2021 Options Indirect 792,105 Shares Nature of change 1. Participation in July 2019 rights issue Example: on-market trade, off-market trade, 2. On-market purchase exercise of options, issue of securities under dividend reinvestment plan, participation in buyback

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	Not applicable
Nature of interest	Not applicable
Name of registered holder(if issued securities)	Not applicable
Date of change	Not applicable
No. and class of securities to whichinterest related prior to changeNote: Details are only required for acontract in relation to which the interesthas changed	Not applicable
Interest acquired	Not applicable
Interest disposed	Not applicable
Value/ConsiderationNote: If consideration is non-cash,provide details and an estimatedvaluation	Not applicable
Interest after change	Not applicable

Part 3 –[+] Closed period

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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 tradeto proceed during this period?	Not applicable
If prior written clearance was provided, on what date was thisprovided?	Not applicable

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3