RAREX LIMITED — Director's Dealing 2021

Aug 23, 2021

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	Shaun Hardcastle
Date of last notice	25 June 2021

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 givingrise to the relevant interest.	Held by Rod Dog Pty Ltd of which Mr Hardcastle is a director and beneficiary.
**Date of change **	20 August 2021
No. of securities held prior to **change **
Rod Dog Pty Ltd- Mr Hardcastle is a director and beneficiary	• 2,108,823 fully paid ordinary shares • 250,000 unquoted performance rights vesting 12 months after the date that the 10 day VWAP for REE shares on the ASX is $0.25 or higher before 20 August 2021, provided that the holder does not resign from the Board before the vesting date • 250,000 unquoted performance rights vesting 12 months after the date that the 10 day VWAP for REE shares on the ASX is $0.375 or higher before 20 August 2021, provided that the holder does not resign from the Board before the vesting date • 250,000 unquoted performance rights vesting 12 months after the date that the 10 day VWAP for REE shares on the ASX is $0.50 or higher before 20 August 2021, provided that the holder does not resign from the Board before the vestingdate

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

	• 1,000,000 unquoted options exercisable at $0.0607 each expiring 12 December 2022 and vesting on the 20 Day VWAP of REE shares exceeding $0.10 • 1,000,000 unquoted options exercisable at $0.0607 each expiring 12 December 2022 and vesting on the 20 Day VWAP of REE shares exceeding $0.15 • 1,000,000 unquoted options exercisable at $0.0607 each expiring 12 December 2022 and vesting on the 20 Day VWAP of REE shares exceeding $0.20 • 1,500,000 performance rights vesting on 20-Day VWAP of the Company’s Shares exceeding $0.20 and 12 months service from 26 May 2021 • 1,500,000 performance rights vesting on 20-Day VWAP of the Company’s Shares exceeding $0.25 and 18 months service from 26 May 2021 • 1,500,000 performance rights vesting on 20-Day VWAP of the Company’s Shares exceeding $0.30 and 24months service from 26 May2021
Class	Performance rights
Number acquired	Nil
Number disposed	750,000performance rights on lapsing
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	N/A
**No. of securities held after change **
Rod Dog Pty Ltd- Mr Hardcastle is a director and beneficiary	• 2,108,823 fully paid ordinary shares • 1,000,000 unquoted options exercisable at $0.0607 each expiring 12 December 2022 and vesting on the 20 Day VWAP of REE shares exceeding $0.10 • 1,000,000 unquoted options exercisable at $0.0607 each expiring 12 December 2022 and vesting on the 20 Day VWAP of REE shares exceeding $0.15 • 1,000,000 unquoted options exercisable at $0.0607 each expiring 12 December 2022 and vesting on the 20 Day VWAP of REE shares exceeding $0.20 • 1,500,000 performance rights vesting on 20-Day VWAP of the Company’s Shares exceeding $0.20 and 12 months service from 26 May 2021 • 1,500,000 performance rights vesting on 20-Day VWAP of the Company’s Shares exceeding $0.25 and 18 months service from 26 May 2021 • 1,500,000 performance rights vesting on 20-Day VWAP of the Company’s Shares exceeding $0.30 and 24months service from 26 May2021
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Lapse of performance rights

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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
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.

01/01/2011 Appendix 3Y Page 3