QEM LIMITED — Director's Dealing 2023

Nov 29, 2023

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 30/9/2001.

Name of entity	QEM Limited
ABN	13 167 966 770

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 Fitch
Date of last notice	15 November 2023

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 relevantinterest.	DL Fitch Nominees Pty Ltd<david fitch<br="">Family Truest>Director and Shareholder
Date of change	27-29 November 2023

+ See chapter 19 for defined terms.

No. of securities held prior to change	DL FITCH NOMINEES PTY LTD <david< th=""></david<>
	FITCH FAMILY TRUST>
	Director and Shareholder
	20,195,835 fully paid ordinary shares
	DLFCMS NOMINEES PTY LTD <dlfcmsPROPERTY TRUST></dlfcms
	Director and Shareholder
	2,415,229 fully paid ordinary shares
	DAVRACINVESTMENTSPTYLTD
	Director and Shareholder
	5,786,822 fully paid ordinary shares
	CL FITCH PTY LTD <caelan fitch<br="">FAMILY TRUST>
	Director and Shareholder
	5,242,225 fully paid ordinary shares1,000,000 Unquoted options exercisable at $0.345
	expiring 12 August 2025
	100,000 share performance rights expiring 26
	August 2026 (3 years service)
	50,000 share performance rights expiring 26
	August 2026 ($0.40 share price)
	100,000 share performance rights expiring 26August 2027 (Strategic Investor)
	ER FITCH PTY LTD <eloise fitch<="" th="">
	FAMILY TRUST>Director and Shareholder
	9,800,366 fully paid ordinary shares
	TOTAL: 43,440,477 fully paid ordinary shares,
	250,000shareperformancerights,and
	1,000,000 unquoted options
Class	Fully paid ordinary shares
Number acquired	DL FITCH NOMINEES PTY LTD <david< th=""></david<>
	FITCH FAMILY TRUST>
	Director and Shareholder
	280,000

+ See chapter 19 for defined terms.

Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide detailsand estimated valuation	$53,200
No. of securities held after change	DL FITCH NOMINEES PTY LTD <davidFITCH FAMILY TRUST>Director and Shareholder20,475,835 fully paid ordinary shares</david
	DLFCMS NOMINEES PTY LTD <dlfcmsPROPERTY TRUST>Director and Shareholder2,415,229 fully paid ordinary shares</dlfcms
	DAVRACINVESTMENTSPTYLTDDirector and Shareholder5,786,822 fully paid ordinary shares
	CL FITCH PTY LTD <caelan fitch<br="">FAMILY TRUST>Director and Shareholder5,242,225 fully paid ordinary shares1,000,000 Unquoted options exercisable at $0.345expiring 12 August 2025100,000 share performance rights expiring 26August 2026 (3 years service)50,000 share performance rights expiring 26August 2026 ($0.40 share price)100,000 share performance rightsexpiring 26August 2027 (Strategic Investor)
	ER FITCH PTY LTD <eloise fitch<br="">FAMILY TRUST>Director and Shareholder9,800,366 fully paid ordinary shares
	TOTAL: 43,720,477 fully paid ordinary shares,250,000shareperformancerights,and1,000,000 unquoted options
Nature of changeExample:on-markettrade,off-markettrade,exercise of options, issue of securities underdividend reinvestment plan, participation in buyback	On-market trade

Part 2 – Change of director's interests in contracts

+ See chapter 19 for defined terms.

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
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to which
interest related prior to change
Note: Details are only required for a contract in relationto which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide details and anestimated valuation
Interest after change

Part 3 – +Closed period

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

+ See chapter 19 for defined terms.