Initial Director's Interest Notice x 3

For personal use only

Appendix 3X

Initial Director's Interest Notice

Rule 3.19A.1

Appendix 3X

Initial 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 30/9/2001.

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Part 1 - Director's relevant interests in securities of which the director is the registered holder

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.

Number & class of securities

Travis Ray Schwertfeger:

• 625,000 tranche 1 performance rights that vest upon the volume weighted average market price (as defined in the ASX Listing Rules) of fully paid ordinary shares (Shares) for a period of 20 consecutive trading days on which Shares are traded (Twenty Day VWAP) exceeding A$0.25 per Share, and expiring on the date that is four years from the date of issue (subject to 24-month escrow from date of ASX quotation).
• 625,000 tranche 2 performance rights that vest upon the Twenty Day VWAP exceeding A$0.30 per Share, and expiring on the date that is four years from the date of issue (subject to 24-month escrow from date of ASX quotation).

Travis Ray Schwertfeger and Liesbet Anne Schwertfeger as trustees for the LTS Super Fund:

• 125,000 Shares.

+ See chapter 19 for defined terms.

For personal use only

Appendix 3X

Initial Director's Interest Notice

Part 2 - Director's relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Part 3 - 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.

For personal use only

Appendix 3X

Initial Director's Interest Notice

Rule 3.19A.1

Appendix 3X

Initial 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 30/9/2001.

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Part 1 - Director's relevant interests in securities of which the director is the registered holder

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.

Number & class of securities

• 250,000 fully paid ordinary shares
• 125,000 fully paid ordinary shares (subject to 24-month escrow from date of ASX quotation)
• 250,000 tranche 1 unquoted options exercisable at A$0.25 each and expiring four years from the date of issue (subject to 24-month escrow from date of ASX quotation)
• 250,000 tranche 2 unquoted options exercisable at A$0.30 each and expiring four years from the date of issue (subject to 24-month escrow from date of ASX quotation)

+ See chapter 19 for defined terms.

For personal use only

Appendix 3X

Initial Director's Interest Notice

Part 2 - Director's relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: Provide details of the circumstances giving rise to the relevant interest.

N/A

Part 3 - 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.

For personal use only

Appendix 3X

Initial Director's Interest Notice

Rule 3.19A.1

Appendix 3X

Initial 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 30/9/2001.

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Part 1 - Director's relevant interests in securities of which the director is the registered holder

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.

Number & class of securities

• 250,000 fully paid ordinary shares
• 125,000 fully paid ordinary shares (subject to 24-month escrow from date of ASX quotation)
• 250,000 tranche 1 unquoted options exercisable at A$0.25 each and expiring four years from the date of issue (subject to 24-month escrow from date of ASX quotation)
• 250,000 tranche 2 unquoted options exercisable at A$0.30 each and expiring four years from the date of issue (subject to 24-month escrow from date of ASX quotation)

+ See chapter 19 for defined terms.