IRIS METALS LIMITED — Director's Dealing 2025

Nov 13, 2025

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	Kevin Smith
Date of last notice	7 August 2025

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) Direct(2) Indirect
Nature of indirect interest(including registered holder)	(1) N/A(2) SABASCO VENTURES LLC (owned by director)
Date of change	(1.7) - 14 November 2025(1.8) - 14 November 2025(1.9) - 14 November 2025

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

Appendix 3Y Change of Director's Interest Notice

		Appendix 3YChange of Director's Interest Notice	Appendix 3YChange of Director's Interest Notice
No. of securities held prior to change		(1.1) 500,000 - PERFORMANCE RIGHTS – CLASS
		B – VESTING 1	3/09/25 EXP 13/03/26
		(1.2) 500,000 -C – VESTING 1	PERFORMANCE RIGHTS – CLASS3/03/26 EXP 13/09/27
		(1.3) 1,000,000	- PERFORMANCE RIGHTS –
		CLASS A – VE14 1000000	TING TBD EXP 29/04/27PERFORMANCE RIGHTS
		(.) ,,	- –
		CLASS B – VE	TING TBD EXP 29/04/27
		(1.5) 1,000,000	- PERFORMANCE RIGHTS –
		CLASS C – VE	STING TBD EXP 29/04/27
		(1.6) 500,000 -	ORDINARY FULLY PAID SHARES
		(1.7) 0 - PERFVESTING 14/0	RMANCE RIGHTS – CLASS A –5/26 EXP 14/11/26
		(1.8) 0 - PERFO	RMANCE RIGHTS – CLASS B –
		VESTING 14/1	/26 EXP 14/05/27
		(1.9) 0 - PERFVESTING 14/0	RMANCE RIGHTS – CLASS C –5/27 EXP 14/11/27
		(2) 1,625,760 -	ORDINARY FULLY PAID SHARES
Class		(1.7) PERFORVESTING 14/0	MANCE RIGHTS – CLASS A –5/26 EXP 14/11/26
		(1.8) PERFOR	MANCE RIGHTS – CLASS B –
		VESTING 14/1	1/26 EXP 14/05/27
		(1.9) PERFORVESTING 14/0	MANCE RIGHTS – CLASS C –5/27 EXP 14/11/27
Number acquired		(1.7) 1,000,000	- PERFORMANCE RIGHTS –
		CLASS A – VE	TING 14/05/26 EXP 14/11/26
		(1.8) 1,000,000CLASS B – VE	- PERFORMANCE RIGHTS –STING 14/11/26 EXP 14/05/27
		(1.9) 1,000,000CLASS C VE	- PERFORMANCE RIGHTS –TING 14/05/27 EXP 14/11/27
		–
Number disposed		N/A
Value/Consideration		(1.7) $Nil - PER	FORMANCE RIGHTS – CLASS A –
		VESTING 14/0	/26 EXP 14/11/26
		(1.8) $Nil - PERVESTING 14/1	FORMANCE RIGHTS – CLASS B –1/26 EXP 14/05/27
		(1.9) $Nil - PER	FORMANCE RIGHTS – CLASS C –
		VESTING 14/0	/27 EXP 14/11/27

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

Appendix 3Y Change of Director's Interest Notice

	Appendix 3YChange of Director's Interest Notice
No. of securities held after change	(1.1) 500,000 - PERFORMANCE RIGHTS – CLASSB – VESTING 13/09/25 EXP 13/03/26(1.2) 500,000 - PERFORMANCE RIGHTS – CLASSC – VESTING 13/03/26 EXP 13/09/27(1.3) 1,000,000 - PERFORMANCE RIGHTS –CLASS A – VESTING TBD EXP 29/04/27(1.4) 1,000,000 - PERFORMANCE RIGHTS –CLASS B – VESTING TBD EXP 29/04/27(1.5) 1,000,000 - PERFORMANCE RIGHTS –CLASS C – VESTING TBD EXP 29/04/27(1.6) 500,000 - ORDINARY FULLY PAID SHARES(1.7) 1,000,000 - PERFORMANCE RIGHTS –CLASS A – VESTING 14/05/26 EXP 14/11/26(1.8) 1,000,000 - PERFORMANCE RIGHTS –CLASS B – VESTING 14/11/26 EXP 14/05/27(1.9) 1,000,000 - PERFORMANCE RIGHTS –CLASS C – VESTING 14/05/27 EXP 14/11/27(2) 1,625,760 - ORDINARY FULLY PAID SHARES
Nature of change	(1.7) - (1.9) ISSUE OF PERFORMANCE RIGHTSAS APPROVED BY SHAREHOLDERS ON 7NOVEMBER 2025

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.

	the case ofd in this pa	a company, interrt.	ests which come wit	ests which come wit	hin paragraph (ii) o	f the definition o	f "notifiable inter	est of a directo	r" should	r" should
Deta	il of cont	ract		N	/A
Natu	re of inte	rest		N	/A
Nam(if is	e of regissued sec	tered holderurities)		N	/A
Date	of chang	e		N	/A
No. ato wprior	nd classhich interto chang	of securitiesest relatede		N	/A
Inter	est acqui	red		N	/A
Inter	est dispo	sed		N	/A
Valu
	e/Consid	eration		N	/A
Interest after change	est after	change		N	/A

Part 3 -[+] Closed period

Part 3 -+Closed period
Were the interests in the securities orcontracts detailed above traded during a+closed period where prior written clearancewas required?	NO
If so, was prior written clearance provided toallow the trade to proceed during this period?	N/A
If prior written clearance was provided, onwhat date was this provided?	N/A

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3