IONIC RARE EARTHS LIMITED — Share Issue/Capital Change 2025

Oct 16, 2025

Appendix 2A - Application for quotation of securities

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Announcement Summary

Entity name

IONIC RARE EARTHS LIMITED

Announcement Type

New announcement

Date of this announcement

Friday October 17, 2025

The +securities to be quoted are:

+Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities being converted

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
IXR	ORDINARY FULLY PAID	32,969,191	17/10/2025

Refer to next page for full details of the announcement

Appendix 2A - Application for quotation of securities

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Appendix 2A - Application for quotation of 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) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type

ACN

Registration number

083646477

1.3 ASX issuer code

IXR

1.4 The announcement is

New announcement

1.5 Date of this announcement

17/10/2025

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Appendix 2A - Application for quotation of securities

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Part 2 - Type of Issue

2.1 The +securities to be quoted are:

+Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities being converted

2.2 The +class of +securities to be quoted is:

Additional +securities in a class that is already quoted on ASX ("existing class")

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Appendix 2A - Application for quotation of securities

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Part 3B - number and type of +securities to be quoted (existing class) where issue has not previously been notified to ASX in an Appendix 3B

Existing +securities converting into additional +securities in an existing class FROM (Existing Class) ASX +security code and description IXRAG : CONVERTIBLE NOTES

TO (Existing Class) ASX +security code and description

IXR : ORDINARY FULLY PAID

Please state the number of options The first date the options were The last date the options were that were exercised or other exercised or other +convertible exercised or other +convertible +convertible securities that were securities were converted securities were converted converted 17/10/2025 17/10/2025 2 Is this all of the options or other +convertible securities on issue of that type (ie have all of those options now been exercised or have all of those convertible securities now been converted)? No The right of the holder of the options or other +convertible securities to receive the +underlying securities is being satisfied by: An issue of new +securities The underlying +securities being received by the holder are: Intended to be, but are not yet, quoted by ASX Were the options being exercised or other +convertible securities being converted issued under an +employee incentive scheme? No

Issue date

17/10/2025

Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

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Appendix 2A - Application for quotation of securities

Issue details

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Number of +securities to be quoted
5,555,554
Are the +securities being issued for a cash consideration?
Yes
In what currency is the cash consideration being paid? What is the issue price per +security?
AUD - Australian Dollar AUD 0.00900000
Any other information the entity wishes to provide about the +securities to be quoted
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Existing +securities converting into additional +securities in an existing class
FROM (Existing Class)
ASX +security code and description
IXRAD : OPTION EXPIRING 15-DEC-2027 EX $0.011
TO (Existing Class)
ASX +security code and description
IXR : ORDINARY FULLY PAID
Please state the number of options	The first date the options were	The last date the options were
that were exercised or other	exercised or other +convertible	exercised or other +convertible
+convertible securities that were	securities were converted	securities were converted
converted	17/10/2025	17/10/2025
27,413,637
Is this all of the options or other +convertible securities on issue of that type		(ie have all of those options now been
exercised or have all of those convertible securities now been converted)?
No
The right of the holder of the options or other +convertible securities to receive the +underlying securities is being
satisfied by:
An issue of new +securities
The underlying +securities being received by the holder are:
Intended to be, but are not yet, quoted by ASX
Were the options being exercised or	other +convertible securities being converted issued under an +employee
incentive scheme?
No

Issue date

17/10/2025

Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

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Appendix 2A - Application for quotation of securities

Issue details

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Number of +securities to be quoted 27,413,637 Are the +securities being issued for a cash consideration? Yes In what currency is the cash consideration being paid? What is the issue price per +security? AUD - Australian Dollar AUD 0.01100000 Any other information the entity wishes to provide about the +securities to be quoted

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Appendix 2A - Application for quotation of securities

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Part 4 - Issued capital following quotation

Following the quotation of the +securities the subject of this application, the issued capital 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 quoted on ASX following the +quotation of the +securities subject of this application)

+securities subject of this application)
	Total number of
ASX +security code and description	+securities on issue
IXR : ORDINARY FULLY PAID	6,727,554,643
IXRO : OPTION EXPIRING 30-SEP-2028	1,021,366,450
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
IXRAG : CONVERTIBLE NOTES	18
IXRAU : OPTION EXPIRING 26-JUN-2028 EX $0.02	337,307,690
IXRAD : OPTION EXPIRING 15-DEC-2027 EX $0.011	207,168,541
IXRAT : PERFORMANCE RIGHTS	130,000,000
IXRAC : OPTION EXPIRING 30-NOV-2026 EX $0.0315	20,000,000

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

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