RAREX LIMITED — Director's Dealing 2022

Jun 29, 2022

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	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 giving rise to the relevant interest.	Mr John A Young & Mrs Cheryl K Young ATF The Forever Young Superannuation Fund
**Date of change **	24 June 2022
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 • 500,000 ordinary shares
Mr John A Young & Mrs Cheryl K Young ATF The Forever YoungSuperannuation Fund	• 2,504,000 ordinary shares
Mr John Alexander Young	• 1,500,000 performance rights vesting on 20-Day VWAP of the Company’s Shares exceeding $0.20 and 12 months

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

	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 24 months service from 26 May 2021
Class	Ordinaryshares
Number acquired	3,333,333
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$0.09 per share
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 • 500,000 ordinary shares
Mr John A Young & Mrs Cheryl K Young ATF The Forever YoungSuperannuation Fund	• 5,837,333 ordinary shares
Mr John Alexander Young	• 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 24 months service from 26 May 2021
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy- back	Participation in placement following shareholder approval.

• 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

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	Jeremy Robinson
Date of last notice	23 September 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	Direct Interest
	Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to therelevantinterest.
	**Date of change **	24 June 2022
	**No. of securities heldprior to change **
	Direct Interest	• 11,125,000 ordinary shares • 5,000,000 options exercisable at $0.025 each on or before 27 September 2022 vesting after 6 months service and 20 day VWAP of $0.05 (vested) • 5,000,000 options exercisable at $0.025 each on or before 27 September 2022 vesting after 6 months service and 20 day VWAP of $0.10 (vested) • 5,000,000 options exercisable at $0.025 each on or before 27 September 2022 vesting after 6 months service and 20 day VWAP of $0.15 (vested) • 5,000,000 performance rights vesting on 20-Day VWAP of the Company’s Shares exceeding $0.20 and 12 months service from 26 May 2021 • 5,000,000 performance rights vesting on 20-Day VWAP of the Company’s Shares exceeding $0.25 and 18 months service from 26 May 2021 • 5,000,000 performance rights vesting on 20-Day VWAP of the Company’s Shares exceeding $0.30 and 24 months service from 26 May 2021

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

	Mr Kim Robinson + Mrs Jennifer Robinson ATF Kim Robinson Super Fund A/C– Jeremy Robinson is a beneficiary	• 925,000 ordinary shares
	Class	Ordinary shares
	Number acquired	1,111,111
	Number disposed	Nil
	Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$0.09 per share
	**No. of securities held after change **
	Direct Interest	• 12,236,111 ordinary shares • 5,000,000 options exercisable at $0.025 each on or before 27 September 2022 vesting after 6 months service and 20 day VWAP of $0.05 (vested) • 5,000,000 options exercisable at $0.025 each on or before 27 September 2022 vesting after 6 months service and 20 day VWAP of $0.10 (vested) • 5,000,000 options exercisable at $0.025 each on or before 27 September 2022 vesting after 6 months service and 20 day VWAP of $0.15 (vested) • 5,000,000 performance rights vesting on 20-Day VWAP of the Company’s Shares exceeding $0.20 and 12 months service from 26 May 2021 • 5,000,000 performance rights vesting on 20-Day VWAP of the Company’s Shares exceeding $0.25 and 18 months service from 26 May 2021 • 5,000,000 performance rights vesting on 20-Day VWAP of the Company’s Shares exceeding $0.30 and 24 months service from 26 May 2021
	Mr Kim Robinson + Mrs Jennifer Robinson ATF Kim Robinson Super Fund A/C– Jeremy Robinson is a beneficiary	• 925,000 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	Participation in placement following shareholder approval

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

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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

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	24 August 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 giving rise to therelevantinterest.	Held by Rod Dog Pty Ltd of which Mr Hardcastle is a director and beneficiary.
**Date of change **	24 June 2022
**No. of securities heldprior to 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 24 months service from 26 May 2021

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Class	Ordinary Shares
Number acquired	555,556
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$0.09 per share
**No. of securities held after change **
Rod Dog Pty Ltd - Mr Hardcastle is a director and beneficiary	• 2,664,379 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 24 months servicefrom 26May2021
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy- back	Participation in placement following shareholder approval

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

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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

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	Cameron Henry
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 giving rise to therelevantinterest.	Meesha Investments Pty Ltd as trustee for the Henry Family Trust. Mr Henry is a director and beneficiary.
**Date of change **	24 June 2022
**No. of securities heldprior to change **
Meesha Investments Pty Ltd as trustee for the Henry Family Trust. Mr Henry is a director and beneficiary.	• 1,557,000 ordinary shares • 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 • 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 24 months service from 26 May 2021

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Class	Ordinary shares
Number acquired	2,222,222
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$0.09 per share
**No. of securities held after change **
Meesha Investments Pty Ltd as trustee for the Henry Family Trust. Mr Henry is a director and beneficiary.	• 3,779,222 ordinary shares • 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 • 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 and24 months servicefrom 26May2021
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestmentplan, participation in buy-back	Participation in placement following shareholder approval

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

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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