IONIC RARE EARTHS LIMITED — Capital/Financing Update 2018

May 31, 2018

1 June 2018

The Company Announcements Office Australian Securities Exchange via electronic lodgement

Notice pursuant to section 708A(5) of the Corporations Act 2001 (Cth)

1. On 31 May 2018 Oro Verde Limited (ACN 083 646 477) ( Oro Verde ) issued 110,000,000 fully paid ordinary shares at an issue price of $0.0025 per share ( Relevant Securities ).

2. Oro Verde issued the Relevant Securities without disclosure to investors under Part 6D.2 of the Corporations Act 2001 (Cth) ( the Act ).

3. This notice is being given under 708(5)(e) of the Act.

4. As at the date of this notice Oro Verde has complied with:

   • a. The provisions of Chapter 2M of the Act as they apply to Oro Verde; and

   • b. Section 674 of the Act.

5. As at the date of this notice, there is no information that is excluded information (as that term is used in section 708A(7) and (8) of the Act) in respect to Oro Verde.

Yours sincerely

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Brett Dickson Company Secretary

Oro Verde Limited (ABN 84 083 646 477) Level 1, 34 Richardson Street, West Perth, WA 6005 PO Box 493, West Perth, WA 6872 Telephone: + 61 8 9481 2555

www.oroverde.com.au