IRIS METALS LIMITED — Share Issue/Capital Change 2023

Aug 31, 2023

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

IRIS METALS LIMITED

Date of this announcement

Friday September 01, 2023

The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
IR1AQ	OPTION EXPIRING 14-JUN-2025 EX $1.50	516,241	01/09/2023

Refer to next page for full details of the announcement

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Part 1 - Entity and announcement details

1.1 Name of entity

IRIS METALS LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number

61646787135

1.3 ASX issuer code

IR1

1.4 The announcement is

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New announcement

1.5 Date of this announcement

1/9/2023

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Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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has an existing ASX security code ("existing class")

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Part 3B - number and type of +securities the subject of this notification (existing class) where issue has not previously been notified to ASX in an Appendix 3B

ASX +security code and description

IR1AQ : OPTION EXPIRING 14-JUN-2025 EX $1.50

Date the +securities the subject of this notification were issued

1/9/2023

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? No Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms Refer EGM NOM held on 3 May 2023 (Resolution 15 including Schedule 12) https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02650107-3A615887?access_token=83 ff96335c2d45a094df02a206a39ff4 Any other information the entity wishes to provide about the +securities the subject of this notification

Issued as Employee Securities Incentive Plan to Eligible Employees.

Issue details

Number of +securities

516,241

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Part 4 - +Securities on issue

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Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
IR1 : ORDINARY FULLY PAID	83,296,000
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
IR1AC : ORDINARY FULLY PAID RESTRICTED	36,350,000
IR1AD : OPTION EXPIRING 15-SEP-2024 RESTRICTED	3,750,000
IR1AU : OPTION EXPIRING 10-JUL-2027 EX $2.50	300,000
IR1AT : OPTION EXPIRING 10-JUL-2026 EX $2.00	300,000
IR1AS : OPTION EXPIRING 10-JUL-2026 EX $1.50	300,000
IR1AE : OPTION EXPIRING 15-OCT-2024 EX $0.30	500,000
IR1AH : OPTION EXPIRING 31-JUL-2025 RESTRICTED	1,500,000
IR1AI : OPTION EXPIRING 31-JUL-2025 EX NIL	7,500,000
IR1AJ : OPTION EXPIRING 31-JAN-2025 EX $1.50	750,000
IR1AK : OPTION EXPIRING 31-JAN-2026 EX $1.20	500,000
IR1AM : ORDINARY FULLY PAID RESTRICTED	5,500,000
IR1AN : PERFORMANCE RIGHTS RESTRICTED	12,000,000
IR1AL : ORDINARY FULLY PAID RESTRICTED	4,000,000

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

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IR1AP : OPTION EXPIRING	14-JUN-2026	RESTRICTED	2,500,000
IR1AO : OPTION EXPIRING	14-JUN-2025	RESTRICTED	750,000
IR1AQ : OPTION EXPIRING	14-JUN-2025	EX $1.50	7,950,241
IR1AR : OPTION EXPIRING	31-JUL-2025	EX $0.40	17,000,000

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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