RAREX LIMITED — Director's Dealing 2020

May 7, 2020

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	RAREX LIMITED
ABN	65 105 578 756

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	John Young
Date of last notice	21 February 2020

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 Interest
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Mr John A Young & Mrs Cheryl K Young ATF The Forever Young Superannuation Fund
**Date of change **	7 May2020
No. of securities held prior to change
Mr John A Young & Mrs Cheryl K Young ATF The Forever Young Family Trust	• 2 million unquoted options exercisable at $0.0607 expiring on 22 December 2022 vesting on the 20-Day VWAP of RareX Shares exceeding $0.10 • 2 million unquoted options exercisable at $0.0607 expiring on 22 December 2022 vesting on the 20-Day VWAP of RareX Shares exceeding $0.15 • 2 million unquoted options exercisable at $0.0607 expiring on 22 December 2022 vesting on the 20-Day VWAP of RareX Shares exceeding $0.20
Class	Ordinaryshares
Number acquired	397,000
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash,	$9,925

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

provide details and estimated valuation
No. of securities held after change
Mr John A Young & Mrs Cheryl K Young ATF The Forever Young Family Trust	• 2 million unquoted options exercisable at $0.0607 expiring on 22 December 2022 vesting on the 20-Day VWAP of RareX Shares exceeding $0.10 • 2 million unquoted options exercisable at $0.0607 expiring on 22 December 2022 vesting on the 20-Day VWAP of RareX Shares exceeding $0.15 • 2 million unquoted options exercisable at $0.0607 expiring on 22 December 2022 vesting on the 20-Day VWAP of RareX Shares exceeding $0.20
Mr John A Young & Mrs Cheryl K Young ATF The Forever Young Superannuation Fund	• 397,000 ordinary shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On market trade

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
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 relation to which the interest has changed
Interest acquired
Interest disposed

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	Not applicable
If prior written clearance was provided, on what date was this provided?	Not applicable

• See chapter 19 for defined terms.

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