IPERIONX Ltd — Capital/Financing Update 2026

Apr 1, 2026

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

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Announcement Summary

Entity name

IPERIONX LIMITED

Date of this announcement

Thursday April 02, 2026

The +securities the subject of this notification are:

+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
IPXAP	RESTRICTED STOCK UNITS	723,104	02/04/2026
New class - code	Option Expiring 2 April 2030 Ex $11.00	511,972	02/04/2026
to be confirmed
New class - code	Option Expiring 2 April 2031 Ex $18.00	536,521	02/04/2026
to be confirmed
New class - code	Option Expiring 2 April 2031 Ex $22.00	607,244	02/04/2026
to be confirmed
New class - code	Performance Rights Expiring 2 April 2031	226,047	02/04/2026
to be confirmed

Refer to next page for full details of the announcement

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

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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

IPERIONX 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 ABN 84618935372

1.3 ASX issuer code

IPX

1.4 The announcement is

New announcement

1.5 Date of this announcement

2/4/2026

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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 securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

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

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

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

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

ASX +security code and description

IPXAP : RESTRICTED STOCK UNITS

Date the +securities the subject of this notification were issued

2/4/2026

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
W. Scott Sparks	W. Scott Sparks	52,258
Dominic Allen	Dominic Allen	52,258
Marcela Castro	Marcela Castro	52,258

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms https://asx.api.markitdigital.com/asx-research/1.0/file/2924-02352816-6A1024241?access_token=83ff96335c2d45a094df

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

Grant of restricted stock units to key employees and contractors of the Company, vesting after 3 years continuous service through to April 2, 2029

Issue details

Number of +securities

209,032

ASX +security code and description

IPXAP : RESTRICTED STOCK UNITS

Date the +securities the subject of this notification were issued

2/4/2026

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class

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

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Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? No Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms https://asx.api.markitdigital.com/asx-research/1.0/file/2924-02352816-6A1024241?access_token=83ff96335c2d45a094df Any other information the entity wishes to provide about the +securities the subject of this notification Grant of restricted stock units to key employees and contractors of the Company, vesting as follows: (i) one-third after continuous service until December 31, 2026; (ii) one-third after continuous service until December 31, 2027; (iii) one-third after continuous service until December 31, 2028. Issue details Number of +securities 477,752 ASX +security code and description IPXAP : RESTRICTED STOCK UNITS Date the +securities the subject of this notification were issued 2/4/2026 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class Yes Were any of the +securities issued to +key management personnel (KMP) or an +associate? No Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms https://asx.api.markitdigital.com/asx-research/1.0/file/2924-02352816-6A1024241?access_token=83ff96335c2d45a094df Any other information the entity wishes to provide about the +securities the subject of this notification Grant of restricted stock units to key employees and contractors of the Company. 15,500 vest on April 2, 2027, 20,820 vest on March 2, 2027 Issue details

Number of +securities 36,320

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

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

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ASX +security code +Security description
New class - code to be confirmed Option Expiring 2 April 2030 Ex $11.00
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+Security type ISIN code
Options
Date the +securities the subject of this notification were issued
2/4/2026
Will all the +securities issued in this class rank equally in all respects from their issue date?
Yes
Were any of the +securities issued to +key management personnel (KMP) or an +associate?
Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
W. Scott Sparks	W. Scott Sparks	127,993
Dominic Allen	Dominic Allen	127,993
Marcela Castro	Marcela Castro	127,993

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://asx.api.markitdigital.com/asx-research/1.0/file/2924-02352816-6A1024241?access_token=83ff96335c2d45a094df

Options Details

+Security currency Exercise price Expiry date AUD - Australian Dollar AUD 11.00000000 2/4/2030

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

IPX : ORDINARY FULLY PAID

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

https://asx.api.markitdigital.com/asx-research/1.0/file/2924-02352816-6A1024241?access_token=83ff96335c2d45a094df

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

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

Grant of incentive options to key employees and contractors of the Company, exercisable at A$11.00 each, expiring April 2, 2030, and vesting after 3 years continuous service through to April 2, 2029

Issue details

Number of +securities 511,972 ASX +security code +Security description New class - code to be confirmed Option Expiring 2 April 2031 Ex $18.00 +Security type ISIN code Options Date the +securities the subject of this notification were issued 2/4/2026 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes Provide details of the KMP or +associates being issued +securities. Name of KMP Name of registered holder Number of +securities Toby Symonds Toby Symonds 536,521 Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://asx.api.markitdigital.com/asx-research/1.0/file/2924-02352816-6A1024241?access_token=83ff96335c2d45a094df Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 18.00000000 2/4/2031 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

IPX : ORDINARY FULLY PAID

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

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Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms https://asx.api.markitdigital.com/asx-research/1.0/file/2924-02352816-6A1024241?access_token=83ff96335c2d45a094df Any other information the entity wishes to provide about the +securities the subject of this notification Grant of incentive options to key employees and contractors of the Company, exercisable at A$18.00 each, expiring April 2, 2031, and vesting after 4 years continuous service through to April 2, 2030

Issue details

Number of +securities

536,521 ASX +security code +Security description New class - code to be confirmed Option Expiring 2 April 2031 Ex $22.00 +Security type ISIN code Options Date the +securities the subject of this notification were issued 2/4/2026 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes Provide details of the KMP or +associates being issued +securities. Name of KMP Name of registered holder Number of +securities Toby Symonds Toby Symonds 607,244 Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://asx.api.markitdigital.com/asx-research/1.0/file/2924-02352816-6A1024241?access_token=83ff96335c2d45a094df

Options Details

+Security currency

AUD - Australian Dollar

Exercise price Expiry date AUD 22.00000000 2/4/2031

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

IPX : ORDINARY FULLY PAID

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

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Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms https://asx.api.markitdigital.com/asx-research/1.0/file/2924-02352816-6A1024241?access_token=83ff96335c2d45a094df

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

Grant of incentive options to key employees and contractors of the Company, exercisable at A$22.00 each, expiring April 2, 2031, and vesting after 4 years continuous service through to April 2, 2030

Issue details

Number of +securities

607,244

ASX +security code +Security description

New class - code to be confirmed Performance Rights Expiring 2 April 2031

+Security type ISIN code Other

Date the +securities the subject of this notification were issued

2/4/2026

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Toby Symonds	Toby Symonds	226,047

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://asx.api.markitdigital.com/asx-research/1.0/file/2924-02352816-6A1024241?access_token=83ff96335c2d45a094df

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms https://asx.api.markitdigital.com/asx-research/1.0/file/2924-02352816-6A1024241?access_token=83ff96335c2d45a094df

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

Grant of unlisted performance rights to key employee of the Company, subject to (a) the Company achieving a 30-day VWAP on ASX of at least A$18.00 per share before April 2, 2030 and (b) continuous service with the Company until April 2, 2030, and expiring April 2, 2031.

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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

226,047

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

Part 4 - +Securities on issue

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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
IPX : ORDINARY FULLY PAID	339,384,070

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
IPXAY : OPTION EXPIRING 05-DEC-2026 EX $0.87	106,093
IPXAAC : OPTION EXPIRING 30-JUN-2027 EX $8.00	1,305,000
IPXAAD : OPTION EXPIRING 10-APR-2029 EX $5.00	1,374,746
IPXAAE : PERFORMANCE RIGHTS EXPIRING 10-APR-2031	3,473,409
IPXAAA : PERFORMANCE RIGHTS EXPIRING 21-DEC-2028	3,330,000
IPXAL : PERFORMANCE RIGHTS 23-APR-2026	400,000
IPXAAB : PERFORMANCE RIGHTS EXPIRING 31-DEC-2027	445,000
IPXAW : PERFORMANCE RIGHTS EXPIRING 31-DEC-2026	30,000
IPXAA : OPTION EXPIRING 01-APR-2027 EX $10.00	235,000
IPXAP : RESTRICTED STOCK UNITS	4,271,019
New class - code to be confirmed : Option Expiring 2 April 2030 Ex $11.00	511,972
New class - code to be confirmed : Option Expiring 2 April 2031 Ex $18.00	536,521
New class - code to be confirmed : Option Expiring 2 April 2031 Ex $22.00	607,244
New class - code to be confirmed : Performance Rights Expiring 2 April 2031	226,047

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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?

2,604,888 securities

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)? N/A

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