PROSPECT RESOURCES LIMITED — Director's Dealing 2021

Jan 10, 2021

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	Prospect Resources Limited
ABN	30 124 354 329

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	Mark Wheatley
Date of appointment	8 January 2021

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 interest	Number & class of Securities
Note: Provide details of the circumstances giving
rise to the relevant interest.
Nil	Nil

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	Under the terms of Mr Wheatley’s Appointment Letterand subject to shareholder approval, Mr Wheatley willbe issued 2,000,000 unlisted and unvested options(Options) expiring 4 years from his commencement asa Director and exercisable at $0.24 per option.
Nature of interest	Subject to shareholder approval, the Options will beissued to, and therefore held by or on behalf of, MrWheatley.
Name of registered holder(if issued securities)	N/A
No. and class of securities to whichinterest relates	2,000,000 unlisted and unvested options with vestingsubject to achievement of performance hurdles.

• See chapter 19 for defined terms.

Appendix 3X Page 2

11/3/2002