WAM ALTERNATIVE ASSETS LIMITED — Director's Dealing 2015

Dec 15, 2015

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 Blue Sky Alternatives Access Fund Limited ABN 47 168 941 704

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	Andrew Frank Champion
Date of last notice	16 June 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	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	14 December 2015 – 15 December 2015
No. of securities held prior to change	350,000 fully paid ordinary shares. 350,000 options over ordinary shares.
Class	Options over ordinary shares Ordinary fully paid shares
Number acquired	261,596 fully paid ordinary shares acquired following the exercise of 261,596 listed options.
Number disposed	261,596 fully paid ordinary shares
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$0.9827 per option acquired ($257,070.39) $1.00 per share disposed ($261,596.00)
No. of securities held after change	350,000 fully paid ordinary shares. 88,404 options over ordinary shares.

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of change Exercise of listed options, exercisable at $0.9827 Example: on-market trade, off-market trade, exercise of options, each on or before 16 December 2015. issue of securities under dividend reinvestment plan, participation in buy-back On-market trade of ordinary shares.

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

Part 3 –[+] Closed period

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

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011