Australian Rare Earths : Change of Director's Interest Notices x 2

For personal use only

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 AUSTRALIAN RARE EARTHS LIMITED

ABN 73 632 645 302

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	Bryn Llywelyn Jones
Date of last notice	29 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.

	BEECHCREST INVESTMENTS	MR BRYN LLYWELYN JONES &
	PTY LTD	MRS KELLIE NICOLE JONES
		A/C>
Direct or indirect interest	Indirect	Indirect
Nature of indirect interest	Mr Jones is a beneficiary	Mr Jones is a beneficiary
(including registered holder)
Note: Provide details of the circumstances
giving rise to the relevant interest.
Date of change	N/A	6 June 2022

+ See chapter 19 for defined terms.

01/01/2011

Appendix 3Y Page 1

For personal use only

Appendix 3Y

Change of Director's Interest Notice

No. of securities held prior to	14,070,000	Ordinary	Shares.	133,333 Ordinary Shares
change	(Subject to escrow until 1 July	1,066,667	Ordinary	Shares
	2023).						(subject to escrow until 1 July
	2,700,000		Unlisted	Options	2023)
	with an exercise price of $0.30
	(30 cents) and expiring on 25
	January	2025.	(Subject	to
	escrow until 1 July 2023)
	750,000 Unlisted Options with
	an exercise price of $0.45 (45
	cents) and expiring 29 June
	2024. (Subject to escrow until
	1 July 2023
Class	Fully paid ordinary shares		Fully paid ordinary shares
Number acquired	N/A						116,825
Number disposed	N/A						Nil
Value/Consideration	N/A						$0.43 per share
Note: If consideration is non-cash, provide
details and estimated valuation
No. of securities held after change	14,070,000	Ordinary	Shares.	250,158 Ordinary Shares
	(Subject to escrow until 1 July	1,066,667	Ordinary	Shares
	2023).
						(subject to escrow until 1 July
	2,700,000		Unlisted	Options
		2023)
	with an exercise price of $0.30
	(30 cents) and expiring on 25
	January	2025.	(Subject	to
	escrow until 1 July 2023)
	750,000 Unlisted Options with
	an exercise price of $0.45 (45
	cents) and expiring 29 June
	2024. (Subject to escrow until
	1 July 2023.
Nature of change	N/A						On market purchase.
Example: on-market trade, off-market trade,
exercise of options, issue of securities under
dividend reinvestment plan, participation in
buy-back

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

+ See chapter 19 for defined terms.

Appendix 3Y Page 2

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For personal use only

Appendix 3Y

Change of Director's Interest Notice

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	N/A
trade to proceed during this period?
If prior written clearance was provided, on what date was	N/A
this provided?

+ See chapter 19 for defined terms.

01/01/2011

Appendix 3Y Page 3

For personal use only

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 AUSTRALIAN RARE EARTHS LIMITED

ABN 73 632 645 302

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	Dudley John Kingsnorth
Date of last notice	3 December 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.

	Nature of indirect interest	Direct
	(including registered holder)
	Note: Provide details of the circumstances giving rise to the relevant
	interest.
	Date of change	N/A
	No. of securities held prior to change	750,000 Ordinary Shares (subject to escrow
		until 1 July 2023).
		600,000 Unlisted Options with an exercise
		price of $0.30 (30 cents) and expiring on 25
		January 2025 (subject to escrow until 1 July
		2023).
	Class	N/A
	Number acquired	N/A
	Number disposed	N/A
	Value/Consideration	N/A
	Note: If consideration is non-cash, provide details and estimated
	valuation
	No. of securities held after change	750,000 Ordinary Shares (subject to escrow
		until 1 July 2023).
		600,000 Unlisted Options with an exercise
		price of $0.30 (30 cents) and expiring on 25
		January 2025 (subject to escrow until 1 July
		2023).
	Nature of change	N/A
	Example: on-market trade, off-market trade, exercise of options, issue of
	securities under dividend reinvestment plan, participation in buy-back
	+ See chapter 19 for defined terms.
01/01/2011	Appendix 3Y Page 1

Appendix 3Y

Change of Director's Interest Notice

					BT PORTFOLIO	INDUSTRIAL		DUDLEY JOHN	JANE
only					SERVICES	MINERALS		KINGSNORTH +	KINGSNORTH
				LIMITED	COMPANY OF		JANE ANNE
					KINGSNORTHS	AUSTRALIA PTY LTD	KINGSNORTH
					S/F A/C>
								KINGSNORTH
								AND JANE ANNE
								KINGSNORTH
								SMSF>
use
Direct	or	indirect	Indirect	Indirect		Indirect		Indirect
	interest
	Nature	of	indirect	Mr Kingsnorth is	Mr Kingsnorth is a	Mr Kingsnorth is	Wife of Mr
	interest				a beneficiary	Director	and	a beneficiary	Kingsnorth
	(including	registered		Shareholder
	holder)
personal	Note: Provide details of the
circumstances giving rise to the
relevant interest.
	Date of change		N/A	7 June 2022		N/A		N/A
	No. of	securities	held	209,667 Ordinary	283,000 Ordinary	1,000,000	162,667
	prior to change		Shares	Shares		Unlisted		Ordinary Shares
								Options with an
						666,667 Ordinary	exercise price of
						Shares (subject to	$0.45 (45 cents)
						escrow until 1 July	and expiring 29
						2023).		June	2024.
								(Subject	to
						500,000 Unlisted	escrow	until 1
						July 2023)
						Options with an
						exercise price of
						$1.44 and expiring
						1 December 2024.
For	Class				N/A	Fully paid ordinary	N/A		N/A
					shares
Number acquired		N/A	75,000		N/A		N/A
Number disposed		N/A	Nil		N/A		N/A
Value/Consideration	N/A	$0.4122 per share	N/A		N/A
	Note: If consideration is non-
	cash, provide	details	and
	estimated valuation

+ See chapter 19 for defined terms.

Appendix 3Y Page 2

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