IRIS METALS LIMITED — Director's Dealing 2022

Sep 27, 2022

Appendix 3Y Change of Director's Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX becomes ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	IRIS Metals Limited
ABN	61 646 787 135

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of director	Chris Connell
Date of last notice	21 September 2021

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	(1) Indirect (2) Direct
Nature of indirect interest (including registered holder)	(1) CHRISTOPHER CONNELL A/C> (Trustee and beneficiary of Trust) (2) N/A
Date of change	(1.1) N/A (1.2) 28 September 2022 (1.3) 28 September 2022 (1.4) 28 September 2022 (2) N/A
No. of securities held prior to change	(1.1) 250,000 - SHARES ESCROWED 24M FROM QUOTATION (1.2) NIL - UNLISTED OPTIONS @$0.00 EXP 31/07/2025 VEST 12/07/2023 (1.3) NIL - UNLISTED OPTIONS @$0.00 EXP 31/07/2025 VEST 12/07/2024 (1.4) NIL - UNLISTED OPTIONS @$0.00 EXP 31/07/2025 VEST 12/07/2025 (2) 1,250,000 - OPTIONS @$0.30 EXP 15/09/2024 ESC 24M FROM QUOTATION

• See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director's Interest Notice

	Appendix 3Y Change of Director's Interest Notice
Class	(1.1) SHARES ESCROWED 24M FROM QUOTATION (1.2) UNLISTED OPTIONS @$0.00 EXP 31/07/2025 VEST 12/07/2023 (1.3) UNLISTED OPTIONS @$0.00 EXP 31/07/2025 VEST 12/07/2024 (1.4) UNLISTED OPTIONS @$0.00 EXP 31/07/2025 VEST 12/07/2025 (2) OPTIONS @$0.30 EXP 15/09/2024 ESC 24M FROM QUOTATION
Number acquired	(1.1) NIL (1.2) 1,500,000 - UNLISTED OPTIONS @$0.00 EXP 31/07/2025 VEST 12/07/2023 (1.3) 1,500,000 - UNLISTED OPTIONS @$0.00 EXP 31/07/2025 VEST 12/07/2024 (1.4) 2,000,000 - UNLISTED OPTIONS @$0.00 EXP 31/07/2025 VEST 12/07/2025 (2) NIL
Number disposed	(1.1) NIL (1.2) NIL (1.3) NIL (1.4) NIL (2) NIL
Value/Consideration	(1.1) N/A (1.2) $Nil - UNLISTED OPTIONS @$0.00 EXP 31/07/2025 VEST 12/07/2023 (1.3) $Nil - UNLISTED OPTIONS @$0.00 EXP 31/07/2025 VEST 12/07/2024 (1.4) $Nil - UNLISTED OPTIONS @$0.00 EXP 31/07/2025 VEST 12/07/2025 (2) N/A
No. of securities held after change	(1.1) 250,000 - SHARES ESCROWED 24M FROM QUOTATION (1.2) 1,500,000 - UNLISTED OPTIONS @$0.00 EXP 31/07/2025 VEST 12/07/2023 (1.3) 1,500,000 - UNLISTED OPTIONS @$0.00 EXP 31/07/2025 VEST 12/07/2024 (1.4) 2,000,000 - UNLISTED OPTIONS @$0.00 EXP 31/07/2025 VEST 12/07/2025 (2) 1,250,000 - OPTIONS @$0.30 EXP 15/09/2024 ESC 24M FROM QUOTATION

• See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 2

Appendix 3Y Change of Director's Interest Notice

Nature of change	(1.1) N/A (1.2) Allotment - As approved by shareholders on 30 August 2022 (Resolution 15) (1.3) Allotment - As approved by shareholders on 30 August 2022 (Resolution 15) (1.4) Allotment - As approved by shareholders on 30 August 2022 (Resolution 15) (2) N/A

Part 2 - Change of director's relevant interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration	N/A
Interest after change	N/A

Part 3 -[+] Closed period

Part 3 -+Closed period
Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

• See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 3