IRIS METALS LIMITED — Capital/Financing Update 2025

Jun 22, 2025

Appendix 2A - Application for quotation of securities

==> picture [21 x 22] intentionally omitted <==

Announcement Summary

Entity name

IRIS METALS LIMITED

Announcement Type

New announcement

Date of this announcement

Monday June 23, 2025

The +securities to be quoted are:

+Restricted securities where the escrow period has expired or is about to expire Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
IR1	ORDINARY FULLY PAID	5,500,000	21/06/2025

Refer to next page for full details of the announcement

Appendix 2A - Application for quotation of securities

1 / 7

Appendix 2A - Application for quotation of securities

Part 1 - Entity and announcement details

==> picture [21 x 22] intentionally omitted <==

1.1 Name of entity

IRIS METALS 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

646787135

1.3 ASX issuer code

IR1

1.4 The announcement is

New announcement

1.5 Date of this announcement

23/6/2025

Appendix 2A - Application for quotation of securities

2 / 7

Appendix 2A - Application for quotation of securities

==> picture [21 x 22] intentionally omitted <==

Part 2 - Type of Issue

2.1 The +securities to be quoted are:

+Restricted securities where the escrow period has expired or is about to expire

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

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

Appendix 2A - Application for quotation of securities

3 / 7

Appendix 2A - Application for quotation of securities

==> picture [21 x 22] intentionally omitted <==

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

Additional +securities to be quoted in an existing class as a result of escrow expiring on an existing class FROM (Existing Class) ASX +security code and description IR1AM : ORDINARY FULLY PAID RESTRICTED TO (Existing Class) ASX +security code and description IR1 : ORDINARY FULLY PAID Please state the number of +restricted securities where the escrow period And the date the escrow restrictions has expired or is about to expire have ceased or will cease 5,500,000 21/6/2025 Issue date 21/6/2025 Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Issue details

Number of +securities to be quoted 5,500,000 Are the +securities being issued for a cash consideration? No Please describe the consideration being provided for the +securities In accordance with the Pre-Reinstatement Confirmation Notice as disclosed to ASX on 19/06/23, securities classified by the ASX as restricted securities are due to be released from escrow on 21/06/25. Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted 0.000000 Any other information the entity wishes to provide about the +securities to be quoted N/A

Appendix 2A - Application for quotation of securities

4 / 7

Appendix 2A - Application for quotation of securities

==> picture [21 x 22] intentionally omitted <==

==> picture [540 x 710] intentionally omitted <==

Appendix 2A - Application for quotation of securities

5 / 7

Appendix 2A - Application for quotation of securities

Part 4 - Issued capital following quotation

==> picture [21 x 22] intentionally omitted <==

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
IR1 : ORDINARY FULLY PAID	177,959,382

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
IR1AZ : OPTION EXPIRING 24-APR-2027 EX $0.40	10,000,000
IR1AAA : OPTION EXPIRING 24-APR-2026 EX NIL	500,000
IR1AAB : OPTION EXPIRING 24-OCT-2026 EX NIL	500,000
IR1AAC : OPTION EXPIRING 24-APR-2027 EX NIL	500,000
IR1AX : PERFORMANCE RIGHTS	6,000,000
IR1AH : OPTION EXPIRING 31-JUL-2025 RESTRICTED	1,500,000
IR1AY : OPTION EXPIRING 14-FEB-2027 EX $0.40	200,000
IR1AV : OPTION EXPIRING 31-DEC-2025 EX $0.40	6,500,000
IR1AW : ORDINARY FULLY PAID EMPLOYEE	100,000
IR1AK : OPTION EXPIRING 31-JAN-2026 EX $1.20	500,000
IR1AM : ORDINARY FULLY PAID RESTRICTED	0
IR1AN : PERFORMANCE RIGHTS RESTRICTED	2,800,000
IR1AP : OPTION EXPIRING 14-JUN-2026 EX $1.50	2,500,000
IR1AR : OPTION EXPIRING 31-JUL-2025 EX $0.40	16,100,000

Appendix 2A - Application for quotation of securities

6 / 7

Appendix 2A - Application for quotation of securities

==> picture [21 x 22] intentionally omitted <==

IR1AAD : OPTION EXPIRING	29-OCT-2026	EX NIL	500,000
IR1AAE : OPTION EXPIRING	29-APR-2027	EX NIL	2,000,000
IR1AAF : OPTION EXPIRING	29-OCT-2027	EX NIL	500,000
IR1AAG : OPTION EXPIRING	30-SEP-2027	EX $0.40	2,000,000

Appendix 2A - Application for quotation of securities

7 / 7