Metal Bank : Change in Director’s Interest Notice

Appendix 3Y Change of Director's Interest Notice

Appendix 3Y

Rule 3.19A.2

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 Metal Bank Limited

ABN 51 127 297 170

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	Sue-Ann Higgins
Date of last notice	9 September 2020

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

Nature of indirect interest	Shares held by Higgins (Australia) Pty Ltd
(including registered holder)	- the Director is a
Note: Provide details of the circumstances giving rise to the relevant
interest.	director of this shareholder and has a
	relevant interest under Section 608(1)(b)
	and (c) of the Corporations Act
	Shares held by Aristo Jet Capital Ltd - the
	Director is the settlor and a member of
	the pension fund which owns the shares
	in this shareholder and has a relevant
	interest under Section 608(1)(c) of the
	Corporations Act
Date of change	15 September 2020
No. of securities held prior to change	Direct - 1,331,837 Shares and 95,132
	Options exercisable at $0.015 and expiring
	31 March 2022 (Options)
	Indirect - 65,664,040 Shares and
	4,690,290 Options

• See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 1

Appendix 3Y

Change of Director's Interest Notice

Class	Ordinary shares
	Options exercisable at $0.015 and expiring
	31 March 2022 (Options)
Number acquired	Indirect - 4,422,712 Shares and 2,211,356
	Options
Number disposed	nil
Value/Consideration	$0.007 per Share
Note: If consideration is non-cash, provide details and estimated	Options issued for no consideration
valuation
No. of securities held after change	Direct - 1,331,837 Shares and 95,132
	Options
	Indirect - 70,086,752 Shares and 6,901,646
	Options
Nature of change	Allotment of additional shares and
Example: on-market trade, off-market trade, exercise of options,	options under the MBK Entitlement Offer
issue of securities under dividend reinvestment plan, participation in	Top Up Facility to Aristo Jet Capital
buy-back
	Limited following shareholder approval at
	the general meeting held on 14 September
	2020

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

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

+ See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y

Change of Director's Interest Notice

Interest after change

Part 3 - +Closed period

Were the interests in the securities or contracts detailed n/a above traded during a +closed period where prior written

clearance was required?

If so, was prior written clearance provided to allow the trade to proceed during this period?

If prior written clearance was provided, on what date was this provided?

• See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 3