IONIC RARE EARTHS LIMITED — Share Issue/Capital Change 2024

Dec 22, 2024

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Announcement Summary

Entity name

IONIC RARE EARTHS LIMITED

Date of this announcement

Monday December 23, 2024

The +securities the subject of this notification are: Other

Total number of +securities to be issued/transferred

Total number of ASX +security +securities to be code Security description issued/transferred Issue date New class - code OPTION EXPIRING 15-DEC-2027 EX $0.011 54,689,969 23/12/2024 to be confirmed

Refer to next page for full details of the announcement

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Part 1 - Entity and announcement details

1.1 Name of entity

IONIC RARE EARTHS LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type Registration number ACN 083646477

1.3 ASX issuer code

IXR

1.4 The announcement is

New announcement

1.5 Date of this announcement

23/12/2024

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

Other

Please specify

Issue of options under SPP announced 26 Nov 2024 and reported in Appendix 3B on the same date

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

does not have an existing ASX security code ("new class")

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Part 3C - number and type of +securities the subject of this notification (new class)

New +securities

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----- Start of picture text ----- ASX +security code +Security descriptionNew class - code to be confirmed OPTION EXPIRING 15-DEC-2027 EX $0.011+Security type ISIN codeOptionsDate the +securities the subject of this notification were issued23/12/2024Will all the +securities issued in this class rank equally in all respects from their issue date?YesHave you received confirmation from ASX that the terms of the +securities are appropriate and equitable underlisting rule 6.1?NoPlease provide a URL link for a document lodged with ASX setting out the material terms of the +securities beingissued.SPP Prospectus issued 29 Nov 2024https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02887949-3A657016----- End of picture text -----

Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.01100000 15/12/2027

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

IXR : ORDINARY FULLY PAID

Any other information the entity wishes to provide about the +securities the subject of this notification

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Issue of options under SPP announced 26 Nov 2024 and reported in Appendix 3B on the same date

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

Issue details

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Number of +securities 54,689,969 Were the +securities issued for a cash consideration? No Please describe the consideration being provided for the +securities Attaching options per SPP announced 26 Nov 2024 Purpose of the issue Other Additional Details Proceeds will support existing projects and provide working capital

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this notification, the +securities of the entity will comprise:

The figures in parts 4.1 and 4.2 below are automatically generated and may not reflect the entity's current issued capital if other Appendix 2A, Appendix 3G or Appendix 3H forms are currently with ASX for processing.

4.1 Quoted +securities (Total number of each +class of +securities issued and quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
IXR : ORDINARY FULLY PAID	5,119,048,468

4.2 Unquoted +securities (Total number of each +class of +securities issued but not quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
IXRAV : OPTION EXPIRING 15-DEC-2027 EX $0.011	102,428,574
IXRAU : OPTION EXPIRING 26-JUN-2028 EX $0.02	337,307,690
IXRAD : OPTION EXPIRING 15-DEC-2027 EX $0.011	1,000,000
IXRAT : PERFORMANCE RIGHTS	95,700,000
IXRAC : OPTION EXPIRING 30-NOV-2026 EX $0.0315	20,000,000
New class - code to be confirmed : OPTION EXPIRING 15-DEC-2027 EX $0.011	54,689,969

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

54,689,969 options

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

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