IONIC RARE EARTHS LIMITED — Director's Dealing 2024

Jul 28, 2024

Appendix 3Y

Change of Director’s Interest Notice

Rule 3.19A.2

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity Ionic Rare Earths Limited ABN 84 083 646 477

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Mr Sufian Ahmad
Date of last notice	22 March 2024

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct & Indirect
Nature of indirect interest	Securities held in the names ofthe
(including registered holder)	following:
Note: Provide details of the circumstances giving rise to the relevantinterest.	Sufian Ahmad <62 Capital Account>. Sixty
	Two Capital Pty Ltd is a company in which
	Mr Ahmad is both a director and
	shareholder;
	BRSB Super Fund Pty Ltd
	<BRSB Super Fund A/C> a company in
	which Mr Ahmad is both a director and
	beneficiary; and
	Mrs Ifrah Nishat.
Date of change	19 and 22 July 2024
No. of securities held prior to change	119,057,619 Fully Paid Ordinary Shares
	(Direct)
	21,386,203 Fully Paid Ordinary Shares
	(Indirect)
	5,000,000 Performance Rights
Class	Ordinary Shares
Number acquired	NA
Number disposed	18,800,000 Ordinary Shares (Indirect) and
	19,047,619 Ordinary Shares (Direct)
	transferred to Mrs Ifrah Nishat.

See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Value/Consideration	$0.01 per Ordinary Share
Note: If consideration is non-cash, provide details and estimated
valuation
No. of securities held after change	100,010,000 Fully Paid Ordinary Shares
	(Direct)
	40,433,822 Fully Paid Ordinary Shares
	(Indirect and including the 18,800,000
	Shares transferred to Mrs Ifrah Nishat as
	detailed above)
	5,000,000 Performance Rights
Nature of change	Transfers of Shares– off-market trades
Example: on-market trade, off-market trade, exercise of options, issue
of securities under dividend reinvestment plan, participation in buy-
back

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	NA
Nature of interest	NA
Name of registered holder	NA
(if issued securities)
Date of change	NA
No. and class of securities to which	NA
interest related prior to change
Note: Details are only required for a contract in
relation to which the interest has changed
Interest acquired	NA
Interest disposed	NA
Value/Consideration	NA
Note: If consideration is non-cash, provide details
and an estimated valuation
Interest after change	NA

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed No

above traded during a +closed period where prior written clearance was required?

Appendix 3Y Page 2

	Appendix 3YChange of Director’s Interest Notice	Appendix 3YChange of Director’s Interest Notice
	If so, was prior written clearance provided to allow thetrade to proceed during this period?	NA
	If prior written clearance was provided, on what datewas this provided?	NA

Appendix 3Y Page 3

• See chapter 19 for defined terms.