Response to ASX Price Query

• Company not aware of any undisclosed information that could explain recent trading
• Confirms compliance with Listing Rules, including Listing Rule 3.1
• Responses authorized by Company Secretary

Australian Vanadium Limited (AVL) has responded to an ASX price query regarding the recent change in the price and significant increase in the trading volume of its securities. The company states that it is not aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities. AVL confirms that it is in compliance with the Listing Rules, particularly Listing Rule 3.1, and that its responses have been authorized and approved in accordance with its published continuous disclosure policy or otherwise by its board or an officer of the company with delegated authority. The company is unable to offer any other explanation for the recent trading in its securities. Overall, AVL has provided a comprehensive response to the ASX's inquiries, demonstrating its commitment to transparency and compliance with the relevant regulations.