IRIS METALS LIMITED — Share Issue/Capital Change 2025

Nov 13, 2025

Appendix 3G - 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 November 14, 2025

The +securities the subject of this notification are: Other

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
IR1AX	PERFORMANCE RIGHTS	6,000,000	14/11/2025

Refer to next page for full details of the announcement

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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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 Registration number ACN 646787135

1.3 ASX issuer code

IR1

1.4 The announcement is

New announcement

1.5 Date of this announcement

14/11/2025

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

Other

Please specify

Issue of Director Performance Rights as approved by holders at the EGM on 7 Nov 2025 (Res 10-11).

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

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

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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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

Additional +securities in an existing class

ASX +security code and description IR1AX : PERFORMANCE RIGHTS

Date the +securities the subject of this notification were issued

14/11/2025

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

Any other information the entity wishes to provide about the +securities the subject of this notification

Section 4.1 IR1 : ORDINARY FULLY PAID=242,526,369, being 231,302,139+5,882,352+5,341,878 Section 4.2 OPTION EXPIRING 30-SEP-2026 EX $0.25=25,097,099 OPTION EXPIRING 30-JUN-2027 EX $0.20=4,000,000 OPTION EXPIRING 14-NOV-2027 EX $0.20=10,000,000 OPTION EXPIRING 14-MAY-2027 EX $0.00=1,500,000 OPTION EXPIRING 14-NOV-2027 EX $0.00=1,500,000 as per App 2Ax2 and 3Gx2 released prior to this form

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Issued as part of EGM: Refer to Resolutions 10 and 11 and Annexure I of EGM NOM released to ASX on 3/10/2025

https://stocknessmonster.com/announcements/ir1.asx-3A677968/

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Issue details

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Number of +securities

6,000,000

Were the +securities issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

Funds will not be raised from the issue of these Performance Rights as these Performance Rights are being issued for the purposes of incentive securities.

Purpose of the issue

Other

Additional Details

Performance Rights are being issued for the purposes of incentive securities.

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Part 4 - +Securities on issue

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

The figures in parts 4.1 and 4.2 below are automatically generated and may not reflect the entity's current issued capital if other Appendix 2A, Appendix 3G or Appendix 3H forms are currently with ASX for processing.

4.1 Quoted +securities (Total number of each +class of +securities issued and quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
IR1 : ORDINARY FULLY PAID	231,302,139
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
IR1AZ : OPTION EXPIRING 24-APR-2027 EX $0.40	10,000,000
IR1AAA : OPTION EXPIRING 24-APR-2026 EX NIL	500,000
IR1AAB : OPTION EXPIRING 24-OCT-2026 EX NIL	500,000
IR1AAC : OPTION EXPIRING 24-APR-2027 EX NIL	500,000
IR1AX : PERFORMANCE RIGHTS	14,400,000
IR1AY : OPTION EXPIRING 14-FEB-2027 EX $0.40	200,000
IR1AV : OPTION EXPIRING 31-DEC-2025 EX $0.40	6,500,000
IR1AW : ORDINARY FULLY PAID EMPLOYEE	25,000
IR1AK : OPTION EXPIRING 31-JAN-2026 EX $1.20	500,000
IR1AP : OPTION EXPIRING 14-JUN-2026 EX $1.50	2,500,000
IR1AAE : OPTION EXPIRING 29-APR-2027 EX NIL	1,500,000
IR1AAF : OPTION EXPIRING 29-OCT-2027 EX NIL	500,000
IR1AAG : OPTION EXPIRING 30-SEP-2027 EX $0.40	2,000,000

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

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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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