AVZ Minerals : Change of Director's Interest Notice

21 January 2022

Companies Announcement Office

ASX Limited

Change of Director's Interest Notice (Appendix 3Y)

AVZ Minerals Limited (ASX: AVZ, OTCQX:AZZVF) ("AVZ" or "Company') refers to the attached Appendix 3Y for Mr Graeme Johnston. The notice relates to the on-market sale of 753,000 AVZ shares by Mr Johnston via his Self-Managed Superannuation fund <_g26_m johnston="" super="" fund="" _a2f_c="">, which he jointly owns with his wife, Mrs Margaret Johnston.

The number of shares sold represents 6.2% of the total number of shares he owns in the Company and 3.8% of his total exposure to the Company including his unvested Performance Rights. Mr and Mrs Johnston had to sell these shares in order to comply to the investment strategy of their Self-Managed Superannuation Fund.

The Company, including Mr Johnston, is confident that AVZ is making good progress to mine the remarkable Lithium Resource at Manono soon.

This release was authorised by Nigel Ferguson, Managing Director of AVZ Minerals Limited.

For further information, visitwww.avzminerals.com.auor contact:

Mr. Jan de Jager or Mr. Ben Cohen

Joint Company Secretary

AVZ Minerals Limited

Phone: [phone]

Email: [e-mail]

Level 2, 8 Colin Street, West Perth, WA 6005 Australia | PO Box 520, West Perth, WA 6872 Australia

T: [phone] | F: [phone] | E: [e-mail] | W: www.avzminerals.com.au | ABN 81 125 176 703

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 AVZ Minerals Limited

ABN	81 125 176 703

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	Graeme Johnston
Date of last notice	14 January 2022

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
Nature of indirect interest	Mr Graeme Godsman Johnston & Mrs Margaret
(including registered holder)	Ann Johnston
Note: Provide details of the circumstances giving rise to the relevant	(G&M Johnston Super Fund A/C) in which Mr
interest.
Johnston is a beneficiary
	Equity Plan Services Pty Ltd
	(a Trust where Graeme Johnston is a beneficiary)
Date of change	17 January 2022
No. of securities held prior to change	12,151,070 Ordinary Shares
	7,500,000 Performance Rights
Class	Ordinary Shares
	Performance Rights
Number acquired	Nil
Number disposed	753,000 Ordinary Shares
Value/Consideration	A$0.865 per Ordinary Share
Note: If consideration is non-cash, provide details and estimated
valuation

• 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	11,398,070 Ordinary Shares
	7,500,000 Performance Rights
Nature of change	On market sale of Ordinary Shares

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	-
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
Interest after change	-

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

+ See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011