IONIC RARE EARTHS LIMITED — Share Issue/Capital Change 2017

Mar 16, 2017

17 March 2017

The Company Announcements Office Australian Securities Exchange via electronic lodgement

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

1. On 17 March 2017 Oro Verde Limited (ACN 083 646 477) ( Oro Verde ) issued 3,666,666 fully paid ordinary shares at an issue price of $0.01 per share ( Relevant Securities ) as a result of the exercise of options.

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