IPB Petroleum : Change of Director's interest Notice P Smith

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 IPB Petroleum Limited

ABN	52 137 387 350

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	Philip Smith
Date of last notice	30 November 2018

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	Direct and Indirect interests
Nature of indirect interest	Philip Smith is a director of Travelopp Pty
(including registered holder)	Ltd	as	trustee	of	the	Tabard
Note: Provide details of the circumstances giving rise to the relevant	Superannuation Fund. Philip Smith has a
interest.	beneficial interest in the Tabard
	Superannuation Fund.
Date of change	24 November 2020
No. of securities held prior to change	Directly - 26,394,737 fully paid ordinary
	shares.
	Indirectly - 2,050,000 fully paid ordinary
	shares
	Directly -2,500,000 unlisted employee
	options.
Class	Fully paid ordinary shares
Number acquired	1,250,000
Number disposed	Nil
Value/Consideration	Exercise of 1,250,000 unlisted options at a
Note: If consideration is non-cash, provide details and estimated	cost	of	3.2 cents	per	option.	Total
valuation	consideration of $40,000..

+ See chapter 19 for defined terms.

01/01/2011

Appendix 3Y Page 1

Appendix 3Y

Change of Director's Interest Notice

No. of securities held after change	Directly - 27,644,737 fully paid ordinary
	shares.
	Indirectly - 2,050,000 fully paid ordinary
	shares
	Directly - 1,250,000 unlisted options
Nature of change	Exercise of 1,250,000 unlisted options.

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	Not applicable
Nature of interest	Not applicable
Name of registered holder	Not applicable
(if issued securities)
Date of change	Not applicable
No. and class of securities to which	Not applicable
interest related prior to change
Note: Details are only required for a contract in
relation to which the interest has changed
Interest acquired	Not applicable
Interest disposed	Not applicable
Value/Consideration	Not applicable
Note: If consideration is non-cash, provide details and
an estimated valuation
Interest after change	Not applicable

Part 3 - +Closed period

Were the interests in the securities or contracts detailed Not applicable

above traded during a +closed period where prior written clearance was required?

If so, was prior written clearance provided to allow the Not applicable trade to proceed during this period?

If prior written clearance was provided, on what date was Not applicable this provided?

+ See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011