ILUKA RESOURCES LIMITED — Interim / Quarterly Report 2021

Oct 21, 2021

ILUKA RESOURCES LIMITED (ASX:ILU) AUSTRALIAN SECURITIES EXCHANGE NOTICE

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22 October 2021

QUARTERLY REVIEW APPENDIX

On 21 October, Iluka Resources (Iluka) released its Quarterly Review to 30 September 2021.

Appendix 1 of the Quarterly Review contains Mining and Production Physical Data in two tables on pages 6 and 7 respectively.

The Ore Treated Grade from Sierra Leone was reported as 2.2%. This should have been 2.8%.

In addition, the Australia Total Ore Mined for the 3 months to 30 September 2021 should have read 5,110kt, being the sum of Jacinth-Ambrosia/ Mid west (2,746kt) and Cataby/ South west (2,364kt), instead of 4,447kt.

These errors are not considered material. The attached Mining and Production Physical Data has been corrected.

This document was approved and authorised for release to the market by Iluka’s Company Secretary.

Investment market and media enquiries:

Luke Woodgate Group Manager, Investor Relations and Corporate Affairs Mobile: +61 (0) 477 749 942 Email: investor.relations@iluka.com

Iluka Resources Limited • ABN 34 008 675 018 • Level 17 240 St Georges Terrace Perth WA 6000 GPO Box U1988 Perth WA 6845 • T +61 8 9360 4700 • F +61 8 9360 4777 • www.iluka.com

APPENDIX 1 – MINING AND PRODUCTION PHYSICAL DATA

Physical Data 3 months to September 21	Jacinth- Ambrosia/ Mid west	Cataby/ South west	Australia Total	Sierra Leone	Group Total
Mining
Overburden Moved kbcm	1,375	969	2,344	-	2,344
Ore Mined kt	2,746	2,364	5,110	1,590	6,700
Ore Treated Grade HM %	2.9%	7.0%	4.8%	2.8%	3.9%
VHM Treated Grade %	2.6%	5.9%	4.1%	2.2%	3.5%
Concentrating
HMC Produced kt	71.0	148.5	219.5	77.1	296.7
VHM Produced kt	62.2	129.6	191.8	56.6	248.4
VHM in HMC Assemblage %	87.5%	87.3%	87.4%	73.4%	83.7%
Zircon	38.4%	9.4%	18.8%	4.3%	14.9%
Rutile	8.7%	6.9%	7.5%	52.5%	18.1%
Ilmenite	40.4%	71.0%	61.1%	21.1%	50.7%
HMC Processed kt	127.2	123.7	250.9	80.2	331.1
Finished Product4 kt
Zircon	77.6	11.1	88.7	-	88.7
Rutile	8.6	6.6	15.2	36.4	51.6
Ilmenite (saleable/upgradeable)	34.7	114.4	149.1	16.0	165.1
Synthetic rutile kt	-	59.8	59.8	-	59.8
Monazite concentrate kt	12.2	-	12.2	-	12.2

4 Finished product includes material from heavy mineral concentrate (HMC) initially processed in prior periods.

6

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Physical Data 9 months to September 21	Jacinth- Ambrosia/ Mid west	Cataby/ South west	Australia Total	Sierra Leone	Group Total
Mining
Overburden Moved kbcm	2,423	4,228	6,651	-	6,651
Ore Mined kt	8,018	6,903	14,921	7,074	21,995
Ore Treated Grade HM %	3.0%	6.1%	4.4%	2.8%	3.7%
VHM Treated Grade %	2.7%	5.2%	3.9%	2.2%	3.3%
Concentrating
HMC Produced kt	200.0	382.6	582.6	214.9	797.5
VHM Produced kt	175.3	336.4	511.7	145.6	657.2
VHM in HMC Assemblage %	87.7%	87.9%	87.8%	67.7%	82.4%
Zircon	39.5%	10.1%	20.2%	3.8%	15.8%
Rutile	7.7%	7.0%	7.2%	43.3%	16.9%
Ilmenite	40.5%	70.9%	60.4%	20.6%	49.7%
HMC Processed kt	359.7	305.8	665.4	228.1	893.6
Finished Product5 kt
Zircon	208.5	22.1	230.6	-	230.6
Rutile	25.4	14.2	39.6	91.9	131.5
Ilmenite (saleable/upgradeable)	99.9	264.3	364.2	36.2	400.4
Synthetic Rutile kt	-	138.8	138.8	-	138.8
Monazite concentrate kt	38.4	-	38.4	-	38.4

Explanatory comments on terminology

Overburden moved (bank cubic metres) refers to material moved to enable mining of an ore body.

Ore mined (thousands of tonnes) refers to material moved containing heavy mineral ore. For Cataby/ South West this refers to ore treated.

Ore Treated Grade HM % refers to percentage of heavy mineral (HM).

VHM Treated Grade % refers to percentage of valuable heavy mineral (VHM) - titanium dioxide (rutile and ilmenite), and zircon found in a deposit.

Concentrating refers to the production of heavy mineral concentrate (HMC) through a wet concentrating process at the mine site, which is then transported for final processing into finished product at the company's Australian mineral processing plant, or the Sierra Leone mineral processing plant.

HMC produced refers to HMC, which includes the valuable heavy mineral concentrate (zircon, rutile, ilmenite) as well as other non-valuable heavy minerals (gangue).

VHM produced refers to an estimate of valuable heavy mineral in heavy mineral concentrate expected to be processed.

VHM produced and the VHM assemblage - provided to enable an indication of the valuable heavy mineral component in HMC.

HMC processed provides an indication of material emanating from each mining operation to be processed.

Finished product is provided as an indication of the finished production (zircon, rutile, ilmenite) attributable to the VHM in HMC production streams from the various mining operations. Finished product levels are subject to recovery factors which can vary. The difference between the VHM produced and finished product reflects the recovery level by operation, as well as processing of finished material/concentrate in inventory. Ultimate finished product production (rutile, ilmenite, and zircon) is subject to recovery loss at the processing stage – this may be in the order of 10 per cent.

Ilmenite is produced for sale or as a feedstock for synthetic rutile production.

Typically, 1 tonne of upgradeable ilmenite will produce between 0.56 to 0.60 tonnes of SR. Iluka also purchases external ilmenite for its synthetic rutile production process.

5 Finished product includes material from heavy mineral concentrate (HMC) initially processed in prior periods.

7