IRIS METALS LIMITED - Regulatory Filings 2025

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ASX:IR1 - ASX RELEASE I 17 APRIL 2025

Amended Release in respect of

Webinar Presentation dated 27/3/25

IRIS Metals Limited (ASX: IR1 ) (“ IRIS ” or “ the Company ”) refers to its recent release titled “Iris Metals Live Investor Webinar” on 27 March 2025 ( Webinar Release ).

Following discussions with the ASX, the Company has made the following amendments to the Webinar Release:

(i) Corporate level exploration targets were retracted from Slide 3 to eliminate any potential confusion with a JORC compliant Exploration Target as defined in JORC Clause 50;
(ii) Reference to a corporate mine life objective was retracted from Slide 3, such as not to confuse that statement with a Production Target as defined in LR 19.12;
(iii) Corporate level production target from individual mine sites was retracted from Slide 4, such as not to confuse that statement with a Production Target as defined in LR 19.12; and
(iv) Photo descriptions were added to Slides 8, 11 and 13, and proximate cautionary statements added to photos on Slides 8 and 11 to meet the requirements of Listed@ASX Compliance Update No. 04/23.

The updated Webinar Release is attached. IR1 advises that the retracted information should not be relied on by investors.

ENDS

This announcement was approved for release by the Board of Iris Metals.

For further information, please contact:

COMPANY

INVESTORS & MEDIA

Peter Marks Melissa Tempra

E. [email protected] E. [email protected]

IRISMETALS.COM

ASX:IR1

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About IRIS Metals (ASX:IR1)

IRIS Metals Ltd (ASX:IR1) is an exploration company with an extensive suite of assets considered to be highly prospective for hard rock lithium located in South Dakota, United States (US). The company’s large and expanding South Dakota Project is located in a mining friendly jurisdiction and provides the company with strong exposure to the battery metals space, and the incentives offered by the US government for locally sourced critical minerals.

The Black Hills have a long and proud history of mining dating back to the late 1800s. The Black Hills pegmatites are famous for having the largest recorded lithium spodumene crystals ever mined. Extensive fields of fertile LCT-pegmatites outcrop throughout the Black Hills with significant volumes of lithium spodumene mined in numerous locations.

To learn more, please visit: www.irismetals.com

About The South Dakota Project

The Black Hills of South Dakota are famous for historic lithium mining dating back to 1898 when Li-bearing spodumene and amblygonite was first mined near the township of Custer. IRIS controls 2,105 federal mineral claims and has agreements over two patented claim blocks.

Existing project areas include:

Beecher Project – including Longview and Black Diamond
Tin Mountain Project
Edison Project
Helen Beryl Project
Tinton Project

The Beecher pegmatite trend was mined sporadically between the 1920’s and 1950’s for lithium, beryllium, tantalum, mica and feldspar. Limited amounts of lithium spodumene ore from the Beecher mines was shipped to Hill City during the 1940’s where it was processed through a flotation circuit.

IRIS’ is currently moving the Beecher Project to near-term development and has been granted mining licenses permitting lithium pegmatite mining for these patented claims.

These mining licenses, granted by the State of South Dakota, enable IRIS to fast-track all exploration and mining activities including the right to explore and mine lithium bearing pegmatites.

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Location of IRIS’ projects within South Dakota

IRISMETALS.COM

ASX:IR1

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Forward looking Statements:

This announcement may contain certain forward-looking statements that have been based on current expectations about future acts, events and circumstances. These forward-looking statements are, however, subject to risks, uncertainties and assumptions that could cause those acts, events and circumstances to differ materially from the expectations described in such forward-looking statements. These factors include, among other things, commercial and other risks associated with exploration, estimation of resources, the meeting of objectives and other investment considerations, as well as other matters not yet known to IRIS or not currently considered material by the company. IRIS accepts no responsibility to update any person regarding any error or omission or change in the information in this presentation or any other information made available to a person or any obligation to furnish the person with further information.

Not an offer in the United States:

This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.

Competent Persons Statement:

The information in this announcement that relates to exploration results is based on information reviewed by Matt Hartmann, IRIS’ President of U.S. Operations, and a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM) (318271), a Registered Member of the Society for Mining, Metallurgy and Exploration (RM-SME) (4170350RM). Matt Hartmann is an exploration geologist with over 20 years’ experience in mineral exploration, including lithium exploration and resource definition in the western United States, and has sufficient experience in the styles of mineralisation and type of deposit under consideration and to the activity undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Matt Hartmann has consented to the inclusion in this Public Report of the matters based on his information in the form and context in which it appears.

The information in this announcement that relates to the Mineral Resource Estimate for the Longview Pegmatite is based on information reviewed by Dr. Volker Moeller, Senior Resource Geologist at SLR Consulting (Canada) Ltd., and a registered Professional Geoscientist (P.Geo) in the Province of Ontario, Canada. Dr. Moeller has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken to qualify as a Competent Person, as defined in the JORC 2012 edition of the Australasian Code for Reporting of Mineral Resources and Ore Reserves. Dr. Moeller has consented to the inclusion in this Public Report of the matters based on his information in the form and context in which it appears.

IRISMETALS.COM

ASX:IR1

ASX: IR1

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Corporate Structure
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IR1 $0.24 176.56m

ASX CODE

SHARE PRICE (as at 26 Mar 2025)

SHARES ON ISSUE(undiluted)

~~A$40.58m~~ MARKET CAP

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$4.3m $0 $33.68m
CASH DEBT EV
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Peter Marks Executive Chairman

Peter brings over 30 years’ experience in corporate advisory, investment banking and director/advisory roles to the Board. Peter’s corporate skills lie in capital raising for pre-IPO and listed companies, cross border M&A transactions, corporate underwriting, and venture capital transactions for companies in Australia, USA and Israel.

Anthony Collins Non-Executive Director

Anthony with 30+ years in global finance and commodities, leads USQ Securities LLC, focusing on share register diversification, project finance, and market expansion in North America. He also serves as Director and President of Economic Index Associates, licensing active index strategies.

Matt Hartmann President US Operations

Denver-based President of U.S. Operations, Matt has more than 20 years of international mining industry experience with a key focus on critical and battery minerals. He oversees all technical and day-to-day operations and is also responsible for strategy and budgets, as well as technical and corporate due diligence.

Tal Paneth Non-Executive Director

Tal has more than a decade of multidisciplinary business experience including exposure to the diverse facets of the equity and debt markets. Tal specialises in identifying strategic mineral projects, financing, and project operations management.

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34.5%
65.5%
Remaining Top 20
Shareholders Shareholders
176m
29%
Shares on Held by
issue Directors
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Kevin Smith Non-Executive Director

An IRIS Metals Non-Executive Director based in New York City, Kevin has led the development and growth of successful lithium supply businesses globally, helping to build several energy and critical minerals businesses and has intimate knowledge of these supply chains.

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12-month share price graph

MARCH 2025

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2025 Operational and Strategic Highlights
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ASX-listed company with a US hard rock Low CAPEX/OPEX project vision, with Three MREs in CY25, and one Well-funded to advance South Dakota lithium mine permit, and the largest an ability to expedite to production MRE upgrade by Q1 2026, targeting a projects, establish resource estimates, exploration package in the Black Hills. significant global resource. and meet growing US demand for Very shallow, wide lithium drill Project study and investment decision domestic hard rock lithium production. 17,000ha federal mineral claims and a intercepts + shallow weathering profile on track for Q1 2026. regional brownfields footprint in a = very low strip ratio + low mining costs. First production expected Q4 2026–Q1 mining-friendly jurisdiction 2027. Further exploration underway to Aligned with the US supply chain, Advancing strategic investment and Experienced US based team: support long-term mining operations, leveraging government grants, offtake agreement discussions to Matt Hartmann – President US Ops with established infrastructure in the domestic production incentives, and boost project value Kevin Smith - Non-Executive Director Black Hills region which has a long, proximity to the world’s largest EV Anthony Collins- Non-Executive Director proud mining history. market and key manufacturers.

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MARCH 2025

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Advancing "Hub & Spoke" Production Model
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Hub & Spoke production leverages multiple mines and flexible mine plans Tin to ensure a consistent feed to a Beecher Mountain central processing facility

IRIS Metals regional exploration portfolio of lithium endowed Early Market pegmatites on its 17,000 hectares of Penetrationfederal mineral claims will form the long-term pipeline to continually replace mineral resources within the production model

In 2025, IRIS Metals will rapidly advance mineral resource development across multiple Black Hills projects to establish a global resource for the project that will Federal Edison support a central processing facility Claims

The development plan aligns with the small footprint, high-grade, and low CAPEX/OPEX mining environment of the IRIS Metals portfolio in the Black Hills

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MARCH 2025

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Black Hills South Dakota Portfolio Snapshot
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Beecher (near-term)

Fully permitted for mining operations, entirely on private owned land
Presents near-term production potential with permitted, outcropping, spodumene rich pegmatites
67 diamond core holes, and 50 RC drill holes for the basis of the maiden mineral resource estimate, on target for release in Q1 2025
Includes the historic Longview, Beecher, and Black Diamond mines, previously mined for lithium-rich spodumene.

Tin Mountain (near-term)

Entirely on privately owned land, under Option by IRIS Metals
Tin Mountain is a well-known megacrystic pegmatite with very large spodumene crystals
Historically mined for tin and beryllium, but now recognized as being endowed in lithium
2024 drill program consisted of 23 diamond core holes totaling 1,122m of drilling

Edison (long-term)

Entirely on privately owned land, owned 100% by IRIS Metals
Site of prior mining activities for lithium, with spodumene bearing pegmatites outcropping at surface.
• Maiden drill program will commence in Q2 2025

Regional Exploration Pipeline

IRIS Metals holds over 17,000 hectares of federal mineral claims in the Black Hills, South Dakota.
Actively exploring and identifying additional lithium endowed pegmatites for long term resource growth to support a central processing facility

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MARCH 2025

Lithium Demand Driven by EV & Energy Storage Growth

LITHIUM DEMAND IS UNABATED

Global lithium demand is projected to grow 5x by 2040 , driven by EV adoption (70% of demand by 2035) and energy storage growth (20% CAGR)[1]

By 2040, the U.S. will require ~ 1.5 million tonnes of LCE annually, up from ~100,000 tonnes per year today

Globally 60–70 new mines will be needed to meet projected demand.

US POLICY SETTINGS

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The Solution is IRIS Metals

Proximity to major U.S. battery manufacturers and EV producers' positions IRIS Metals as a key domestic supplier

President Trump’s administration is expected to maintain and expand tariffs reinforcing domestic supply chain competitiveness

Tariffs on Chinese imports (100% on EVs, 25% on batteries and lithium) as well as likely tariffs on Canada and other raw material suppliers

Domestic US lithium production is near zero, with rapidly growing demand and few projects that can achieve production in the next few years

President Trump recently signed an Executive Order to streamline the permitting and extraction of critical minerals in the US. This should assist projects like Iris’ that are near shovel ready, get into production

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MARCH 2025

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North America &Iris Metals Projects
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IRIS METALS IS CENTRALLY LOCATED TO NORTH AMERICAN BATTERY INITIATIVES

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Operational plant in Nevada with ~35 GWh operated with Panasonic (expected to expand up to 100 GWh). It also has a pilot line in Fremont (California) with plans of expand it.

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Kore Power plans to have its 12 GWh gigafactory open by 2025.

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Gigafactory Arizona with a capacity of 27 GWh.

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Gigafactory in Tucson, Arizona (capacity to be defined)

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Tesla expects to expand the gigafactory in Austin (Texas) which is already operating up to 100 GWh.

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Battery cell factory in Quebec with a capacity of 10 GWh by 2030

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Battery cell factory in Quebec with a capacity of 10 GWh by 2030

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Announced a battery plant of about 40 GWh in Ontario, with production to start in ear1y 2024

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Working in the development of a new plant in Michigan.

It has a 5 GWh capacity plant in Holland, Michigan.

They expect to open in 2025 their first project in Indiana (city of Kokomo) with a capacity of 33 GWh.

Panasonic's 30 GWh capacity Gigafactor in Kansas

Two plants in Georgia with initial capacities of ~10 and ~12 GWh (Tennessee),withDevelopmenttwo gigafactoriesof the "Blueand a third one in StatonOval Clty' project in Kentucky increaserespectivelythe potential tobeyond(with venture(50% each) to startThey havebuilding a gigafactoryannouncedina Joint each one with a capacity of 43 GWh 25 GWh) toOEMs such assupply Georgia Hyundai.

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Battery cell factory in Quebec with a capacity of 10 GWh by 2030

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Volkswagen's Canadian Gigafactory in St Thomas (Ontario), with a planned capacity of 90 GWh .

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Developing a new plant for 2026 in Indiana.

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Operational plant in Buffalo dedicated to solar cells of ~2 GWh.

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Plant with a capacity of 1 GWh (expandable to more than 15 GWh)

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New facility to be completed in 2025 in Ohio (40 GWh).

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This joint venture between LG Energy solutions and GM involves a plant in Lordstown (Ohio, with 30-35 GWh) and in Spring Hill (Tennessee) (with similar capacity).

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Announced a battery plant in North Carolina to start operations in 2025 with a capacity of 12 GWh.

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Currently working in 3 different initiatives in for several OEMs (BMW, Nissan and Mercedes respectively).

A second project has been announced, location to be defined. It will open in 2027 and will have a capacity of 34 GWh.

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Starting a new facility in 2025 with 30GWh of capacity In Savannah, Georgia.

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MARCH 2025

SOURCES: World of statistics, CIC Energiue

Beecher Project

The Beecher Project, a fully permitted mine featuring exposed lithium-rich pegmatite, is the centerpiece for near-term production within IRIS Metals' Black Hills Portfolio

Location: 7km from Custer, South Dakota, in the Black Hills

Landholding: 50.88 hectares of private landownership surrounded by 20,300 hectares of unpatented federal mining claims

Historic Mines: Includes Longview, Beecher, and Black Diamond mines, with operations dating back to the 1950s

Permitting: IRIS Metals holds all permits necessary to start mining operations at the Beecher Project

Exploration: In addition to mapping, geophysics, and surface sampling, a total of

67 diamond core holes, and 50 RC drill holes have been completed to date.

Resource Potential: Nearly 2,000m of pegmatite outcropping strike length within historic lithium-producing zones, initial MRE on schedule for Q1 2025 delivery

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Photo of mineralized pegmatite wall rock containing spodumene crystals at the Beecher Project. Photo for illustrative purposes only, no sample results are being reported

Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.

MARCH 2025

Beecher Project

: Wide and high-grade lithium intersections include[2,3]

BDD-24-040

BDD-24-031

75.1m @ 1.41% Li₂O from 25.1m, including:
56.7m @ 1.43% Li₂O from 40.4m, including:
4.4m @ 2.16% Li₂O from 29.1m
3.8m @ 2.63% Li₂O from 40.4m
3.4m @ 2.48% Li₂O from 37.8m
2.6m @ 1.90% Li₂O from 50.4m
14.8m @ 2.21% Li₂O from 68.2m incl.:
- 3.6m @ 1.91% Li₂O from 89.4m
3.6m @ 3.20% Li₂O from 76.7m
A total of 67 diamond drill holes and 50 RC drill holes completed across 2023 &

2024

Combining deeper, wide intercepts with mineralisation extending to surface, the
Beecher Project potentially represents a very low-cost mining operation
Additional drilling planned at the Beecher Project in 2025, new growth targets on property already identified

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MARCH 2025

Beecher Project

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Drill core from BDD-24-029, showing intercept of 4.5m @ 2.35% Li₂O From 62.5m to 67.0m[4]

Cross-section is idealized and utilizes interpretation between known drill holes; it is not intended as a visual estimate of grade or tonnage .

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MARCH 2025

Tin Mountain Project

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Spodumene bearing pegmatite wall rock of the former Tin Mountain Mine. Photo for illustrative purposes only, no sample results are being reported.

The Tin Mountain Project hosts a megacrystic pegmatite, well known for containing some of the largest spodumene crystals in the world

Location: 12km from Custer, South Dakota, in the Black Hills

Landholding: 6.2 hectares of private landownership optioned by IRIS Metals Historic Mines: Includes the Tin Mountain Mine, with polymetallic mining operations dating back to the early 1900s

Permitting: IRIS Metals holds an active exploration operations permit for the project area

Exploration: In addition to mapping, geophysics, and surface sampling, a total of 23 diamond core holes have been completed to date

Resource Potential: Mineral resource estimate planned after Phase II drilling completed in Q3 2025

Other Commodities: Drill results in 2024 included high-grade caesium intercept

in drill hole TDD-24-007[5]

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MARCH 2025

Tin Mountain Project

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PHASE I DRILLING HIGHLIGHTS[5]

TDD-24-006

TDD-24-021

6.7m @ 1.11% Li2O from 8.3m, including,
3.0m @ 1.24% Li2O from 26.0m,
3.0m @ 3.20% Li2O from 36.7m,
2.1m @ 2.29% Li2O from 12.9m
2.0m @ 1.68% Li2O from 43.2m

TDD-24-017

TDD-24-007

1.2m @ 1.56% Li2O from 13.7m,
1.0m @ 1.54% Cs2O from 31.2m
1.8m @ 3.90% Li2O from 23.5m,

TDD-24-008

2.7m @ 1.47% Li2O from 35.6m, including,
5.2m @ 2.05% Li2O from 39.2m, including,
1.0m @ 3.37% Li2O from 37.3m
1.5m @ 3.04% Li2O from 40.8m

Phase II drill program will be completed Q2/Q3 2025 with an initial MRE planned for late 2025

Cross section is idealized and utilizes interpretation between known drill holes; it is not intended as a visual estimate of grade or tonnage .

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MARCH 2025

Edison Project

The Edison Project hosts one of the most historically significant lithium mines in the Black Hills

Location: 4km from Keystone, South Dakota, in the Black

Hills

Landholding: 3.5 hectares of private landownership 100%

owned by IRIS Metals

Historic Mines: Includes the Edison Mine, formerly

owned by Thomas Edison, with mining operations for

lithium dating back to 1917

Permitting: IRIS Metals holds an active exploration

operations permit for the project area

Exploration: Surface sampling and mapping to date,

drilling planned to commence Q2 2025

Resource Potential: Initial MRE planned for completion

after 2025 drill program

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Photo of high wall of former Edison Mine.

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MARCH 2025

Growth - Regional Exploration

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Exploring Scale And Potential Of South Dakota Tenure

IRIS’ >17,000 Ha of mineral rights in the Black Hills provides significant growth potential for the Company[6]
In 2024 IRIS completed large scale pegmatite mapping and soil sampling across high-priority target areas to search for potential targets undercover within regions of historic mining operations
Planned activities for 2025 include airborne geophysics for further delineation of spodumene bearing pegmatites, including those potentially under cover, as well as focused mapping and sampling
Objective is to determine the full priority target ranking across the land package and initiate permitting of those targets in Q4 2025
The federal claim land package represents the long-term feed for IRIS’ hub & spoke production model

Continued success across this land package will provide the growth necessary to create a production plan beyond 15 years

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MARCH 2025

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Metallurgical Testing & Process Design
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Metallurgical testing has produced high purity spodumene concentrate with samples yielding as low as 0.25% Fe2O3 from the Beecher Project[7]

HLS test work achieved lithium recoveries of 45% to 59%
Further processing with flotation achieved overall lithium recoveries of 62.9% to 82.3%

The Beecher Project testing indicated that IRIS can expect strong recoveries from a hybrid DMS and flotation flowsheet.

FUTURE DEVELOPMENT

Testing additional pegmatites at Beecher, Tin Mountain, & Edison Projects in 2025
In final planning stages of a bulk sample mining campaign from the Longview pegmatite at the Beecher Project
Full flow-sheet design for a central processing facility advancing in 2025, led by WAVE International

6.1% Li2O SPODUMENE CONCENTRATE WITH LITHIUM RECOVERY EXCEEDING 82%

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Photo of 6.1% spodumene concentrate generated from mineralized material sourced from drill hole BDD-24-022, Sample 2 at the Beecher Project[7]

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MARCH 2025

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What's Next?
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Mineral Resource Expanded airborne geophysics, and target delineation and expansion sampling and mapping to drilling at Beecher, Tin Mountain and Edison prepare for Federal claim permitting Test mining at Beecher and Project Study to support an further process test work investment decision on across the portfolio to construction of hub & develop a multi-feed spoke model operations in source process flow sheet South Dakota

MARCH 2025

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Battery Grade Lithium Carbonate
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IRIS HAS SUCCESSFULLY CONVERTED SPODUMENE CONCENTRATE (SC6) FROM BEECHER INTO BATTERY GRADE LITHIUM CARBONATE[8]

Transition from exploration to near-term producer/supplier of lithium carbonate equivalent (LCE) is underway
IRIS has engaged with various downstream processors to facilitate successful bulk testing and development of an LCE supply for the US market
Strategic move positions IRIS Metals as first near-term supplier of fully domestically produced and processed lithium carbonate
Key development support IRIS well to benefit from growing demand for battery grade lithium in the US market
Allows IRIS to potentially capture the value uplift of moving beyond simply supplying spodumene, to also supplying finished battery grade LCE to the US market

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MARCH 2025

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Exploration to Production
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Exploration Operations	Timeframe
MRE Beecher Project –Publish the initial mineral resource estimate at our flagship project	Q1 2025
Advanced Exploration on Federal Claims –Continue work programs to assess and expand potential	Ongoing
2025 Drill Program –Focused drilling across Edison, Beecher, and Tin Mountain projects to grow resources	Q2-Q4 2025	IRIS Metals is committed to
MRE Edison & MRE Tin Mountain -Deliver MREs to continue to grow the mineral inventory portfolio for hub and spoke production	Q4 2025	driving value for investors by
Target Selection on Federal Claims -Align exploration with strategic permitting for future drilling	Q4 2025	advancing from exploration to
MRE Update of Beecher Refinement and expansion to showcase evolving resource capabilities	Q1 2026	defined development outcomes.
Development Studies	Timeframe	A 12 months focus on growing
Commence Process Test Work -Initiate metallurgical studies across all projects to inform production	✓	resource base and delivering a
strategies		comprehensive project study
Test Mining & Bulk Sample Collection from Beecher -Progress test material for commercial validation	Q2 2025	encompassing all feed sources
Complete Process Study & Flow Sheet -Optimise central processing facility for multiple feed sources	Q4 2025	across Black Hills portfolio.
Complete Mining Study -Define multiple mine plans, operational efficiencies, and production rates	Q4 2025
Project Study –Economic analysis of proposed South Dakota operations to support investment decision	Q1 2026

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MARCH 2025

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Important Information
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The purpose of this presentation is to provide background information to assist readers in obtaining a general understanding of the Company’s proposals and objectives. It is not and should not be considered as an offer or invitation to apply for or purchase any securities of the Company or as a recommendation or inducement to make an offer or invitation in respect of securities in the Company.

This presentation is not a disclosure document under Australian law or under any other law. Accordingly, this presentation neither purports to be exhaustive nor contain all of the information which any reader or prospective investor may require to make an investment decision, and it does not contain all of the information which would otherwise be required by Australian law or any other law to be disclosed in a prospectus.

The information in this presentation is not intended to form the basis of any investment decision in relation to the Company or its assets and should not be considered as a recommendation to the recipient to investment or acquire the Company’s assets. Readers must not rely on this presentation but make their own independent assessment and seek and rely upon their own independent taxation, legal, financial or other professional advice. This presentation is not intended to constitute financial product advice and does not take into account individual or group investment objectives, taxation situation, financial situation or needs.

The information in this presentation, which is selective and does not purport to contain all the information that the recipient may require to evaluate the opportunity, has not been independently verified. No representation or warranty, expressed or implied, is or will be made, and no responsibility or liability is or will be accepted by the Company, any of their respective officers, servants, agents or advisers as to or in relation to the accuracy, reasonableness, completeness or reliability of this presentation or any other written or oral information made available to any recipients of this presentation or their advisers.

Various statements in this presentation constitute statements relating to intentions, future acts and events (“Forward Looking Statements”).

Forward looking Statements:

This announcement may contain certain forward-looking statements that have been based on current expectations about future acts, events and circumstances.

These forward-looking. statements are, however, subject to risks, uncertainties and assumptions that could cause those acts, events and circumstances to differ materially from the expectations described in such forward-looking statements. These factors include, among other things, commercial and other risks associated with exploration, estimation of resources, the meeting of objectives and other investment considerations, as well as other matters not yet known to IRIS or not currently considered material by the company. IRIS accepts no responsibility to update any person regarding any error or omission or change in the information in this presentation or any other information made available to a person or any obligation to furnish the person with further information.

Not an offer in the United States:

Competent Persons Statement:

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MARCH 2025

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References
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1. Benchmark Mineral Lithium Forecast, Research Note, October 3, 2024, Benchmark Mineral Intelligence, www.benchmark.com

2. IR1 ASX Announcement: Iris Metals Reports Final Assays from Phase I Drilling at Beecher, dated 19 December 2024

3. IR1 ASX Announcement: Iris Metals Achieves Best Drill Intercept to Date at Beecher Project, dated 14 August 2024

4. IR1 ASX Announcement: Wide and High-grade lithium intercepts Continue at Beecher, dated 15 July 2024

5. IR1 ASX Announcement: IR1 intersects high-grade lithium & caesium at Tin Mountain, South Dakota, USA, dated 6 March 2025

6. IR1 ASX Announcement: Regional Lithium Exploration Demonstrates Scale and Potential of South Dakota Tenure, dated 30 August 2024

7. IR1 ASX Announcement: Iris achieves high purity spodumene concentrate from Beecher Project, dated 9 October 2024

8. IR1 ASX Announcement: Iris Metals Successfully Completes Downstream Lithium Conversion and Production of Battery grade LCE, dated 15 October 2024

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MARCH 2025

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Contact

Peter Marks Chairman [email protected]

Matt Hartmann

President of U.S. Operations [email protected]

Melissa Tempra

Media and Investor Relations [email protected]

US Operations Office 1029 Mt. Rushmore Rd., Suite C Custer, South Dakota 57730

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ASX:

IR1

AI assistant

IRIS METALS LIMITED — Regulatory Filings 2025

65139_rns_2025-04-16_212bf109-60c2-4494-8bb2-b3fe89324c19.pdf

Amended Release in respect of

Webinar Presentation dated 27/3/25

ENDS

COMPANY

INVESTORS & MEDIA

About IRIS Metals (ASX:IR1)

About The South Dakota Project

Existing project areas include:

Forward looking Statements:

Not an offer in the United States:

Competent Persons Statement:

Peter Marks Executive Chairman

Anthony Collins Non-Executive Director

Matt Hartmann President US Operations

Tal Paneth Non-Executive Director

Kevin Smith Non-Executive Director

Beecher (near-term)

Tin Mountain (near-term)

Edison (long-term)

Regional Exploration Pipeline

Lithium Demand Driven by EV & Energy Storage Growth

LITHIUM DEMAND IS UNABATED

US POLICY SETTINGS

Beecher Project

Beecher Project

: Wide and high-grade lithium intersections include[2,3]

BDD-24-040

BDD-24-031

2024

Beecher Project

Tin Mountain Project

Tin Mountain Project

PHASE I DRILLING HIGHLIGHTS[5]

TDD-24-006

TDD-24-021

TDD-24-017

TDD-24-007

TDD-24-008

Edison Project

Growth - Regional Exploration

Exploring Scale And Potential Of South Dakota Tenure

FUTURE DEVELOPMENT

6.1% Li2O SPODUMENE CONCENTRATE WITH LITHIUM RECOVERY EXCEEDING 82%

IRIS HAS SUCCESSFULLY CONVERTED SPODUMENE CONCENTRATE (SC6) FROM BEECHER INTO BATTERY GRADE LITHIUM CARBONATE[8]

Forward looking Statements:

Not an offer in the United States:

Competent Persons Statement:

Contact

Matt Hartmann

Melissa Tempra

More from IRIS METALS LIMITED

IRIS METALS LIMITED Regulatory Filings 2025