Speciality Metals International : Initial Director's Interest Notice K.Cavallaro

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.

Name of entity: Speciality Metals International Limited

ABN: 77 115 009 106

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.

Name of Director	Kim Yang Cavallaro
Date of appointment	1 October 2020

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

• two (2) million unlisted options. Issued on 1 July 2020, exercisable at $0.04 on or before 1 July 2023. To vest upon the completion of six (6) months employment with the Company; and
• three (3) million unlisted options. Issued on 1 July 2020, exercisable at $0.06 on or before 1 July 2023. To vest upon the completion of twelve (12) months employment with the Company.

• See chapter 19 for defined terms. 11/3/2002

Appendix 3X Page 1

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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

Name of holder & nature of interest

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

N/A

Number & class of Securities

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.

Detail of contract

Nil

Nature of interest

Name of registered holder (if issued securities)

No. and class of securities to which interest relates

+ See chapter 19 for defined terms.

Appendix 3X Page 2

11/3/2002