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

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	Peter Marks
Date of last notice	6 January 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) Indirect (2) Direct
Nature of indirect interest (including registered holder)	(1) SHANTI CAPITAL PTY LTD SUPERFUND A/C> (Super fund beneficiary) (2) N/A
Date of change	(1) N/A (2.1) N/A (2.2) N/A (2.3) N/A (2.4) N/A (2.5) N/A (2.6) N/A (2.7) 29 April 2025 (2.8) 29 April 2025 (2.9) 29 April 2025 (2.10) 24 April 2025 (2.11) 24 April 2025 (2.12) 24 April 2025

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

Appendix 3Y Change of Director's Interest Notice

No. of securities held prior to change

(1) 405,000 - ORDINARY FULLY PAID SHARES (2.1) 2,200,000 - ORDINARY FULLY PAID SHARES (2.2) 1,000,000 - UNLISTED OPTIONS @$0.40 EXP 31/07/25 VESTED (2.3) 1,000,000 - UNLISTED OPTIONS @$0.40 EXP 31/07/25 VEST 27/09/2023 (2.4) 700,000 - PERFORMANCE RIGHTS - CLASS B - VESTING 14/06/2025 - ESC 24M (2.5) 700,000 - PERFORMANCE RIGHTS - CLASS D - VESTING 30/06/2025 - ESC 24M (2.6) 700,000 - PERFORMANCE RIGHTS - CLASS E - VESTING 30/06/2026 - ESC 24M (2.7) 0 PERFORMANCE RIGHTS – CLASS A – VESTING TBD EXP 29/04/27 (2.8) 0 PERFORMANCE RIGHTS – CLASS B – VESTING TBD EXP 29/04/27 (2.9) 0 PERFORMANCE RIGHTS – CLASS C – VESTING TBD EXP 29/04/27 (2.10) 0 UNLISTED OPTIONS @$0.00 VESTING 24/10/25 EXP 24/04/2026 (2.11) 0 UNLISTED OPTION @$0.00 VESTING 24/04/26 EXP 24/10/2026 (2.12) 0 UNLISTED OPTION @$0.00 VESTING 24/10/26 EXP 24/04/2027

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

Appendix 3Y Change of Director's Interest Notice

Class	(1) ORDINARY FULLY PAID SHARES (2.1) ORDINARY FULLY PAID SHARES (2.2) UNLISTED OPTIONS @$0.40 EXP 31/07/25 VESTED (2.3) UNLISTED OPTIONS @$0.40 EXP 31/07/25 VEST 27/09/2023 (2.4) PERFORMANCE RIGHTS - CLASS B - VESTING 14/06/2025 - ESC 24M (2.5) PERFORMANCE RIGHTS - CLASS D - VESTING 30/06/2025 - ESC 24M (2.6) PERFORMANCE RIGHTS - CLASS E - VESTING 30/06/2026 - ESC 24M (2.7) PERFORMANCE RIGHTS – CLASS A – VESTING TBD EXP 29/04/27 (2.8) PERFORMANCE RIGHTS – CLASS B – VESTING TBD EXP 29/04/27 (2.9) PERFORMANCE RIGHTS – CLASS C – VESTING TBD EXP 29/04/27 (2.10) UNLISTED OPTIONS @$0.00 VESTING 24/10/25 EXP 24/04/2026 (2.11) UNLISTED OPTION @$0.00 VESTING 24/04/26 EXP 24/10/2026 (2.12) UNLISTED OPTION @$0.00 VESTING 24/10/26 EXP 24/04/2027
Number acquired	(1) NIL (2.1) NIL (2.2) NIL (2.3) NIL (2.4) NIL (2.5) NIL (2.6) NIL (2.7) 500,000 PERFORMANCE RIGHTS – CLASS A – VESTING TBD EXP 29/04/27 (2.8) 500,000 PERFORMANCE RIGHTS – CLASS B – VESTING TBD EXP 29/04/27 (2.9) 500,000 PERFORMANCE RIGHTS – CLASS C – VESTING TBD EXP 29/04/27 (2.10) 500,000 UNLISTED OPTIONS @$0.00 VESTING 24/10/25 EXP 24/04/2026 (2.11) 500,000 UNLISTED OPTION @$0.00 VESTING 24/04/26 EXP 24/10/2026 (2.12) 500,000 UNLISTED OPTION @$0.00 VESTING 24/10/26 EXP 24/04/2027
Number disposed	N/A

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

Appendix 3Y Change of Director's Interest Notice

	Appendix 3Y Change of Director's Interest Notice
Value/Consideration	(1) N/A (2.1) N/A (2.2) N/A (2.3) N/A (2.4) N/A (2.5) N/A (2.6) N/A (2.7) NIL - SHAREHOLDER APPROVED INCENTIVE SECURITIES (2.8) NIL - SHAREHOLDER APPROVED INCENTIVE SECURITIES (2.9) NIL - SHAREHOLDER APPROVED INCENTIVE SECURITIES (2.10) NIL - SHAREHOLDER APPROVED INCENTIVE SECURITIES (2.11) NIL - SHAREHOLDER APPROVED INCENTIVE SECURITIES (2.12) NIL - SHAREHOLDER APPROVED INCENTIVE SECURITIES
No. of securities held after change	(1) 405,000 - ORDINARY FULLY PAID SHARES (2.1) 2,200,000 - ORDINARY FULLY PAID SHARES (2.2) 1,000,000 - UNLISTED OPTIONS @$0.40 EXP 31/07/25 VESTED (2.3) 1,000,000 - UNLISTED OPTIONS @$0.40 EXP 31/07/25 VEST 27/09/2023 (2.4) 700,000 - PERFORMANCE RIGHTS - CLASS B - VESTING 14/06/2025 - ESC 24M (2.5) 700,000 - PERFORMANCE RIGHTS - CLASS D - VESTING 30/06/2025 - ESC 24M (2.6) 700,000 - PERFORMANCE RIGHTS - CLASS E - VESTING 30/06/2026 - ESC 24M (2.7) 500,000 PERFORMANCE RIGHTS – CLASS A – VESTING TBD EXP 29/04/27 (2.8) 500,000 PERFORMANCE RIGHTS – CLASS B – VESTING TBD EXP 29/04/27 (2.9) 500,000 PERFORMANCE RIGHTS – CLASS C – VESTING TBD EXP 29/04/27 (2.10) 500,000 UNLISTED OPTIONS @$0.00 VESTING 24/10/25 EXP 24/04/2026 (2.11) 500,000 UNLISTED OPTION @$0.00 VESTING 24/04/26 EXP 24/10/2026 (2.12) 500,000 UNLISTED OPTION @$0.00 VESTING 24/10/26 EXP 24/04/2027

• See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 4

Appendix 3Y Change of Director's Interest Notice

Nature of change

(1) N/A (2.1) N/A (2.2) N/A (2.3) N/A (2.4) N/A (2.5) N/A (2.6) N/A (2.7) ISSUE OF PERFORMANCE RIGHTS AS APPROVED BY SHAREHOLDERS ON 2 APRIL 2025. (2.8) ISSUE OF PERFORMANCE RIGHTS AS APPROVED BY SHAREHOLDERS ON 2 APRIL 2025. (2.9) ISSUE OF PERFORMANCE RIGHTS AS APPROVED BY SHAREHOLDRES ON 2 APRIL 2025. (2.10) ISSUE OF UNLISTED OPTIONS AS APPROVED BY SHAREHOLDERS ON 2 APRIL 2025. (2.11) ISSUE OF UNLISTED OPTIONS AS APPROVED BY SHAREHOLDERS ON 2 APRIL 2025. (2.12) ISSUE OF UNLISTED OPTIONS AS APPROVED BY 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
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

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NO
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Were the interests in the securities or NO contracts detailed above traded during a +closed period where prior written clearance was required?

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 5

Appendix 3Y Change of Director's Interest Notice

	Appendix 3Y Change of Director's Interest Notice
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 6