IONIC RARE EARTHS LIMITED — Capital/Financing Update 2020

Mar 1, 2020

2 March 2020

The Company Announcements Office Australian Securities Exchange via electronic lodgement

Notice Under Section 708A(5)(e) of the Corporations Act

Oro Verde Limited (ACN 083 646 477) (ASX: OVL) ( Oro Verde or the Company ) , gives this notice pursuant to section 708A(5)(e) of the Corporations Act 2001 ( Cth) (Corporations Act) and ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547.

The Company will make offers to issue fully paid ordinary shares (Shares) under a share purchase plan without disclosure to investors under Part 6D.2 of the Corporations Act 2001 (Cth).

The Company hereby confirms that:

1. as at the date of this notice, the Company has complied with:

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

   • b. section 674 of the Corporations Act; and

2. as at the date of this notice, there is no information to be disclosed which is excluded information (as defined in section 708A(7) of the Corporations Act) that is reasonable for investors and their professional advisers to expect to find in a disclosure document.

Authorised for release by Brett Dickson, Company Secretary

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

www.oroverde.com.au