Ann: Initial Director's Interest Notice-ADV.AX, page-18

Hi Guys,

FYI

Just a summary of the unlisted conditional performance options below:

Bradley Boyle
(Executive Director)

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​ Direct: 1. 2,074,678 ordinary shares 2. 5,000,000 Tranche 1 Unlisted 2 cent Conditional Performance Options expiring 31 December 2017, subject to 20 day VWAP of 4c and the exercising of either the Root Lake or Seymour Lake Lithium options 3. 5,000,000 Tranche 2 Unlisted 2 cent Conditional Performance Options expiring 31 December 2017, subject to 20 day VWAP of 4c and the successful execution of an off-take agreement on terms acceptable to the Board of a minimum 5,000tpa of contained Lithium and/or 10,000tpa contained graphite.

Neil Hackett
(Non Executive Director/Joint Company Secretary)

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​ Indirect: Corporate Starboard Pty Ltd 1. 12,259,845 Ordinary Shares 2. 2,500,000 Tranche 1 Unlisted 4 cent Conditional Performance Options expiring 1 July 2019, subject to 20 day VWAP of 8c and the exercising of either the Root Lake or Seymour Lake Lithium options 3. 2,500,000 Tranche 2 Unlisted 4 cent Conditional Performance Options expiring 1 July 2019, subject to 20 day VWAP of 10c and reaching a total JORC compliant resource across all projects of 5Mt.

Piers Lewis
(Non Executive Director)

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​ 　 　 1. Direct 413,341 Ordinary Shares 2. Indirect 29,935,239 Ordinary Shares 3. 2,500,000 Tranche 1 Unlisted 4 cent Conditional Performance Options expiring 1 July 2019, subject to 20 day VWAP of 8c and the exercising of either the Root Lake or Seymour Lake Lithium options 4. 2,500,000 Tranche 2 Unlisted 4 cent Conditional Performance Options expiring 1 July 2019, subject to 20 day VWAP of 10c and reaching a total JORC compliant resource across all projects of 5Mt.

As always DYOR.

GLTAH!