IMAGE RESOURCES NL — Share Issue/Capital Change 2021

Apr 19, 2021

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20 April 2021

NOTIFICATION OF CANCELLATION OF SHARES

Pursuant to Listing Rule 3.8A, Image Resources NL ( ASX: IMA ) attaches a copy of ASIC Form 484 lodged today in relation to the cancellation of 1,271,187 fully paid ordinary shares bought back under an employee share scheme buy-back. Completion of the buy-back was notified to ASX on 8 April 2021.

Image Resources Background Information

Image is Australian’s newest mineral sands mining company, operating open-cut mining and ore processing facilities at its 100%-owned, high-grade, zircon-rich Boonanarring Mineral Sands Project located 80km north of Perth, Western Australia, in the infrastructure-rich North Perth Basin. Boonanarring is arguably one of the highest grade, zircon-rich, mineral sands projects in Australia. The project was constructed and commissioned on-time and on-budget in 2018 and production of HMC ramped-up to exceed name-plate capacity in only the second month of operation (January 2019).

Image has now completed two full years of successful operations with performance meeting or beating market guidance ranges in all categories. The Company is focused on maintaining its strong operational and health, safety and environmental performance and has prioritised the identification of new Mineral Resources and Ore Reserves, to extend the cumulative mine life of Ore Reserves in its portfolio, while investigating the development of a second operating centre in parallel with current operations.

This document is authorised for release to the market by:

Dennis Wilkins Company Secretary +61 8 9485 2410 info@imageres.com.au www.imageres.com.au

Image Resources NL | ABN 57 063 977 579 Ground Floor, 23 Ventnor Ave West Perth WA 6005 | PO Box 469 West Perth WA 6872 T: 08 9485 2410 www.imageres.com.au

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Australian Securities & Investments Commission

Electronic Lodgement

Document No. 7EBG65742

Lodgement date/time: 20-04-2021 13:10:36 Reference Id: 152786197

Form 484 Corporations Act 2001

Change to company details

Company details

Company name IMAGE RESOURCES NL Australian Company Number (ACN) 063 977 579

Lodgement details

Who should ASIC contact if there is a query about this form?

Name

WILKINS,DENNIS

ASIC registered agent number (if applicable) 21479

Signature

This form must be signed by a current officeholder of the company.

I certify that the information in this form is true and complete Name

DENNIS WILLIAM WILKINS

Capacity

Secretary

Signature

Date signed 20-04-2021

ASIC Form 484 Ref 15278619720/04/2021

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Form 484 - Change to company details IMAGE RESOURCES NLACN063 977 579

C1 Cancellation of shares

Reason for cancellation

Shares cancellation details

Reason for cancellation

		ss.257H(3) Share buyback - Other buy-back	ss.257H(3) Share buyback - Other buy-back
		type. A form 280 or 281 must be lodged at
		least 14 days, and no more than 1 year	before
		the share buy-back can take place
The cancelled shares		are listed below:
	Share class code	Number of sharesAmount paid (cash
		cancelledor otherwise)
	ORD1	1271187276774.99
Earliest Date of		20-04-2021
cancellation

C3 Change to share structure

The updated details for this changed share class are shown in the table below.

	Share class	Full title if not standard	Total number of	Total amount paid on	Total amount unpaid
	code		shares	these shares	on these shares
	ORD1	ORDINARY SHARES	993904220	112571318.53	0.00
Earliest date of		20-04-2021
change

ASIC Form 484 Ref 15278619720/04/2021

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