QUANTUM GRAPHITE LIMITED — Director's Dealing 2014

Nov 17, 2014

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	Valence Industries Limited
ABN	41 008 101 979

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	GlenisterLAMONT
Date of last notice	6 November 2014

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	Logmaor Pty Ltd and Alexcal Pty Ltd as
(including registered holder)	trustee for GBSD Trust. Mr Lamont is a
Note: Provide details of the circumstances giving rise to the relevantinterest.	director and shareholder of the companiesand a beneficiary of the trust.
Date of change	18 November 2014
No. of securities held prior to change	64,286 Shares
	25,000 Shares restricted to 6 January 2016
	50,000 Listed Options
	350,000 Unlisted Options (unvested)
Class	-Shares - fully paid ordinary shares.
	-Listed Options - with an exercise
	price of $0.25 and expiry of 31 July
	2016.
	-Unlisted Options - with an exercise
	price of $0.25 and expiry of 31 July
	2016 with vesting subject to various
	performance hurdles. All unlisted
	options are restricted to 6 January
	2016.

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number acquired	Nil
Number disposed	350,000 Unlisted Options
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Nil
No. of securities held after change	64,286 Shares25,000 Shares restricted to 6 January 201650,000 Listed Options
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back	Forfeit of Unlisted Options.

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.

==> picture [434 x 319] intentionally omitted <==

----- Start of picture text ----- Detail of contract Not ApplicableNature of interestName of registered holder(if issued securities)Date of changeNo. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changedInterest acquiredInterest disposedValue/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuationInterest after change----- End of picture text -----

• 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

Part 3 –+Closed period
Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	Not applicable
If so, was prior written clearance provided to allow the tradeto proceed during this period?
If prior written clearance was provided, on what date was thisprovided?

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3