IRIS METALS LIMITED — Governance Information 2021

Sep 20, 2021

Corporations Act 2001

CONSTITUTION

of

IRIS METALS LIMITED

ACN 646 787 135

A COMPANY LIMITED BY SHARES

ADOPTED BY SHAREHOLDERS: 12[TH ] OF FEBRUARY 2021

WITH EFFECT ON THE COMPANY'S CONVERSION TO A PUBLIC COMPANY ON:

_____ 2021 30[TH] APRIL

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33.	BUSINESS ............................................................................................................................................. 17
PROCEEDINGS AT GENERAL MEETINGS .............................................................................................................. 18
34.	MEMBER ............................................................................................................................................. 18
35.	QUORUM ............................................................................................................................................ 18
36.	CHAIRPERSON ..................................................................................................................................... 19
37.	GENERAL CONDUCT ............................................................................................................................ 19
38.	ADJOURNMENT ................................................................................................................................... 19
39.	DECISIONS ........................................................................................................................................... 20
40.	TAKING A POLL .................................................................................................................................... 20
41.	CASTING VOTE OF CHAIRPERSON ....................................................................................................... 21
42.	OFFENSIVE MATERIAL ......................................................................................................................... 21
43.	AUDITOR'S RIGHT TO BE HEARD .......................................................................................................... 21
VOTES OF MEMBERS ........................................................................................................................................... 21
44.	ENTITLEMENT TO VOTE ...................................................................................................................... 21
45.	UNPAID CALLS ..................................................................................................................................... 22
46.	JOINT HOLDERS ................................................................................................................................... 22
47.	OBJECTIONS AND LISTING RULES ........................................................................................................ 22
48.	VOTES BY PROXY ................................................................................................................................. 23
49.	INSTRUMENT APPOINTING PROXY ...................................................................................................... 23
50.	PROXY IN BLANK .................................................................................................................................. 24
51.	LODGEMENT OF PROXY ....................................................................................................................... 24
52.	VALIDITY .............................................................................................................................................. 24
53.	REPRESENTATIVES OF CORPORATIONS ............................................................................................... 24
APPOINTMENT AND REMOVAL OF DIRECTORS .................................................................................................. 25
54.	NUMBER OF DIRECTORS ..................................................................................................................... 25
55.	QUALIFICATION ................................................................................................................................... 25
56.	POWER TO REMOVE AND APPOINT .................................................................................................... 25
57.	ADDITIONAL AND CASUAL DIRECTORS ................................................................................................ 25
58.	FILLING VACATED OFFICE .................................................................................................................... 26
59.	RETIREMENT BY ROTATION ................................................................................................................. 26
60.	NOMINATION OF DIRECTOR ............................................................................................................... 26
61.	VACATION OF OFFICE .......................................................................................................................... 27
REMUNERATION OF DIRECTORS ......................................................................................................................... 27
62.	REMUNERATION OF NON-EXECUTIVE DIRECTORS ............................................................................. 27
63.	REMUNERATION OF EXECUTIVE DIRECTORS ....................................................................................... 28
64.	BENEFIT TO RETIRING DIRECTORS ....................................................................................................... 28
65.	POWERS AND DUTIES OF DI RECTORS .................................................................................................. 28
PROCEEDINGS OF DIRECTORS ............................................................................................................................. 29
66.	DIRECTORS' MEETINGS ....................................................................................................................... 29
67.	DECISIONS ........................................................................................................................................... 29
68.	DIRECTORS' INTERESTS ....................................................................................................................... 30
69.	ALTERNATE DIRECTORS ....................................................................................................................... 30
70.	REMAINING DIRECTORS ...................................................................................................................... 31
71.	CHAIRPERSON ..................................................................................................................................... 31
72.	DIRECTORS' COMMITTEES .................................................................................................................. 31
73.	WRITTEN RESOLUTIONS ...................................................................................................................... 31
74.	VALIDITY OF ACTS OF DIRECTORS ........................................................................................................ 32
75.	MINUTES ............................................................................................................................................. 32
EXECUTIVE DIRECTORS ........................................................................................................................................ 32
76.	APPOINTMENT .................................................................................................................................... 32
77.	POWERS OF EXECUTIVE DIRECTORS .................................................................................................... 33
SECRETARY ........................................................................................................................................................... 33
78.	SECRETARY .......................................................................................................................................... 33

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CORPORATIONS ACT 2001

COMPANY LIMITED BY SHARES CONSTITUTION OF

IRIS METALS LIMITED [ACN 646 787135] ("THE COMPANY")

PRELIMINARY

1. INTRODUCTION

The name of the Company upon this Constitution coming into effect is Iris Metals Limited.

The Company is a public company limited by shares.

The replaceable rules contained in the Corporations Act do not apply to the Company.

2. DEFINITIONS

In this Constitution:

"Act" means the Corporations Act as amended from time to time and includes a reference to the Corporations Regulations;

"Alternate Director" means a person appointed as an alternate director under Article 69;

"ASX" means ASX Limited [ABN 98 008 624 691];

"Auditor" means the Company's auditor;

"Board" means the Directors for the time being of the Company or those of them who are present at a meeting at which there is a quorum;

"Business Day" means a day which is a business day for the purposes of the Listing Rules;

"Company" means the entity whose name upon this Constitution becoming effective is Iris Metals Limited [ACN 646 787 135] and shall be taken to mean the same entity by whatever name from time to time it may be called;

"Constitution" means the constitution of the Company as amended from time to time;

"CS Facility" has the same meaning as prescribed CS Facility in the Act;

"CS Facility Operator" means the operator of a CS Facility;

"Director" means a person appointed to and acting in the position of a director of the Company;

"Directors" means all or some of the Directors acting as a Board;

"Listed Period" means that period of time during which the Company is admitted to the Official List of the ASX;

"Listing Rules" means the Listing Rules of ASX and any other rules of ASX which are applicable during the Listed Period, each as amended or replaced from time to time, except to the extent of any express written waiver by ASX;

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"Managing Director" means a Director appointed as Managing Director under Article 76{1)(a);

"Marketable Parcel" has the same meaning as in the Operating Rules;

"Member" means a person whose name is entered for the time being on the Register as the holder of one (1) or more Shares;

"Non-Marketable Parcel" means a parcel of securities which is less than a Marketable Parcel;

"Office" means the Company's registered office;

"Operating Rules" means the operating rules of a CS Facility regulating the settlement, clearing and registration of uncertificated shares as amended, varied or waived (whether in respect of the Company or generally) from time to time which shall only apply to the Company during the Listed Period;

"Register" means the register of Members of the Company;

"Registered Address" means the address of a Member specified on a transfer or any other address of which the Member notifies the Company as a place at which the Member is willing to accept service of notices;

"Representative" means a person appointed by a Member to act as its representative under Article 53(1) or under Section 250D of the Act;

"Restricted Securities" has the same meaning as in the Listing Rules;

"Seal" means the common seal of the Company (if any);

"Secretary" means any person appointed by the Directors to perform any of the duties of a secretary of the Company and if there are joint secretaries, any one (1) or more of such joint secretaries;

"Securities" includes shares, rights to shares, options to acquire shares and other securities with rights of conversion to equity and debentures, debenture stock, notes and other obligations of the Company;

"Shares" means shares in the share capital of the Company;

"Special Resolution" means a resolution of at least 75% of the votes validly cast on the resolution (by number of votes) being in favour of the resolution. Any resolution not expressed as a Special Resolution or that is not required under the Act, the Listing Rules and applicable law to be passed by Special Resolution, is a resolution able to be passed by a majority of votes validly cast on that resolution.

"Uncertificated Holding" means a holding of Shares which is not held on any certificated sub-register maintained by or on behalf of the Company; and

3. INTERPRETATION

(1) In this Constitution, unless the contrary intention appears:

• (a) the singular includes the plural and vice versa and words importing a gender include other genders;

(b) a reference to:

(i) an Article or schedule is to an Article or schedule of this Constitution;

(ii) person and words importing persons include partnerships, associations and corporations, unincorporated and incorporated by Ordinance, act of Parliament or registration as well as individuals; (iii) legislation, or a provision of legislation, include any consolidation, amendment, re-enactment, substitution or replacement of or for it, and

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