IRIS METALS LIMITED — Director's Dealing 2025

Apr 28, 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

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	16 October 2024

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	(1) N/A
(including registered holder)
	(2) SABASCO VENTURES LLC (owned by director)
Date of change	(1.1) N/A
	(1.2) N/A
	(1.3) N/A
	(1.4) 29 APRIL 2025
	(1.5) 29 APRIL 2025
	(1.6) 29 APRIL 2025
	(2) 24 APRIL 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
No. of securities held prior to change	(1.1) 500,000 - PERFORMANCE RIGHTS – CLASSA – VESTING 13/03/25 EXP 13/09/25(1.2) 500,000 - PERFORMANCE RIGHTS – CLASSB – VESTING 13/09/25 EXP 13/03/26(1.3) 500,000 - PERFORMANCE RIGHTS – CLASSC – VESTING 13/03/26 EXP 13/09/27(1.4) 0 PERFORMANCE RIGHTS - CLASS A -VESTING TBD EXP 29/04/27(1.5) 0 PERFORMANCE RIGHTS - CLASS B -VESTING TBD EXP 29/04/27(1.6) 0 PERFORMANCE RIGHTS - CLASS C -VESTING TBD EXP 29/04/27(2) 125,760 - ORDINARY FULLY PAID SHARES
Class	(1.1) PERFORMANCE RIGHTS – CLASS A –VESTING 13/03/25 EXP 13/09/25(1.2) PERFORMANCE RIGHTS – CLASS B –VESTING 13/09/25 EXP 13/03/26(1.3) PERFORMANCE RIGHTS – CLASS C –VESTING 13/03/26 EXP 13/09/27(1.4) PERFORMANCE RIGHTS - CLASS A -VESTING TBD EXP 29/04/27(1.5) PERFORMANCE RIGHTS - CLASS B -VESTING TBD EXP 29/04/27(1.6) PERFORMANCE RIGHTS - CLASS C -VESTING TBD EXP 29/04/27(2) ORDINARY FULLY PAID SHARES
Number acquired	(1.1) NIL(1.2) NIL(1.3) NIL(1.4) 1,000,000 PERFORMANCE RIGHTS - CLASSA - VESTING TBD EXP 29/04/27(1.5) 1,000,000 PERFORMANCE RIGHTS - CLASSB - VESTING TBD EXP 29/04/27(1.6) 1,000,000 PERFORMANCE RIGHTS - CLASSC - VESTING TBD EXP 29/04/27(2) 1,500,000 ORDINARY FULLY PAID SHARES
Number disposed	N/A

• 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
Value/Consideration	(1.1) N/A(1.2) N/A(1.3) N/A(1.4) NIL - SHAREHOLDER APPROVEDINCENTIVE SECURITIES(1.5) NIL - SHAREHOLDER APPROVEDINCENTIVE SECURITIES(1.6) NIL - SHAREHOLDER APPROVEDINCENTIVE SECURITIES(2) $0.25 PER ORDINARY FULLY PAID SHARES(OR TOTAL CONSIDERATION OF $375,000)
No. of securities held after change	(1.1) 500,000 - PERFORMANCE RIGHTS – CLASSA – VESTING 13/03/25 EXP 13/09/25(1.2) 500,000 - PERFORMANCE RIGHTS – CLASSB – VESTING 13/09/25 EXP 13/03/26(1.3) 500,000 - PERFORMANCE RIGHTS – CLASSC – VESTING 13/03/26 EXP 13/09/27(1.4) 1,000,000 PERFORMANCE RIGHTS - CLASSA - VESTING TBD EXP 29/04/27(1.5) 1,000,000 PERFORMANCE RIGHTS - CLASSB - VESTING TBD EXP 29/04/27(1.6) 1,000,000 PERFORMANCE RIGHTS - CLASSC - VESTING TBD EXP 29/04/27(2) 1,625,760 ORDINARY FULLY PAID SHARES
Nature of change	(1.1) N/A(1.2) N/A(1.3) N/A(1.4) ISSUE OF PERFORMANCE RIGHTSAPPROVED BY SHAREHOLDERS ON 2 APRIL2025.(1.5) ISSUE OF PERFORMANCE RIGHTSAPPROVED BY SHAREHOLDERS ON 2 APRIL2025.(1.6) ISSUE OF PERFORMANCE RIGHTSAPPROVED BY SHAREHOLDERS ON 2 APRIL2025.(2) ISSUE OF PLACEMENT SHARES APPROVEDBY SHAREHOLDERS ON 2 APRIL 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.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder(if issued securities)	N/A

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3

Appendix 3Y Change of Director's Interest Notice

	Appendix 3YChange of Director's Interest Notice
Date of change	N/A
No. and class of securitiesto which interest relatedprior 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 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 4