IRIS METALS LIMITED — Share Issue/Capital Change 2025

Aug 6, 2025

Appendix 2A - Application for quotation of securities

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Announcement Summary

Entity name

IRIS METALS LIMITED

Announcement Type

New announcement

Date of this announcement

Thursday August 07, 2025

The +securities to be quoted are:

+Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities being converted

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
IR1	ORDINARY FULLY PAID	1,500,000	07/08/2025

Refer to next page for full details of the announcement

Appendix 2A - Application for quotation of securities

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Appendix 2A - Application for quotation of securities

Part 1 - Entity and announcement details

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1.1 Name of entity

IRIS METALS LIMITED

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type

ACN

Registration number

646787135

1.3 ASX issuer code

IR1

1.4 The announcement is

New announcement

1.5 Date of this announcement

7/8/2025

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Appendix 2A - Application for quotation of securities

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Part 2 - Type of Issue

2.1 The +securities to be quoted are:

+Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities being converted

2.2 The +class of +securities to be quoted is:

Additional +securities in a class that is already quoted on ASX ("existing class")

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Appendix 2A - Application for quotation of securities

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

Existing +securities converting into additional +securities in an existing class FROM (Existing Class) ASX +security code and description IR1AX : PERFORMANCE RIGHTS

TO (Existing Class) ASX +security code and description IR1 : ORDINARY FULLY PAID Please state the number of options The first date the options were The last date the options were that were exercised or other exercised or other +convertible exercised or other +convertible +convertible securities that were securities were converted securities were converted converted 7/8/2025 7/8/2025 500,000 Is this all of the options or other +convertible securities on issue of that type (ie have all of those options now been exercised or have all of those convertible securities now been converted)? No The right of the holder of the options or other +convertible securities to receive the +underlying securities is being satisfied by: An issue of new +securities The underlying +securities being received by the holder are: Intended to be, but are not yet, quoted by ASX Were the options being exercised or other +convertible securities being converted issued under an +employee incentive scheme? No

Issue date

7/8/2025

Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

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Appendix 2A - Application for quotation of securities

Issue details

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----- Start of picture text -----

Number of +securities to be quoted
500,000
Are the +securities being issued for a cash consideration?
No
Please describe the consideration being provided for the +securities
Conversion of vested Tranche 1 of Performance Rights issued to Mr Smith, approved by shareholders at 2024 AGM held
30/8/24 (Res 7) under LR 10.11.
Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the
+securities to be quoted
0.180000
Any other information the entity wishes to provide about the +securities to be quoted
Value per Performance Rights as at date of grant.
Existing +securities converting into additional +securities in an existing class
FROM (Existing Class)
ASX +security code and description
IR1AAD : OPTION EXPIRING 29-OCT-2026 EX NIL
TO (Existing Class)
ASX +security code and description
IR1 : ORDINARY FULLY PAID
Please state the number of options The first date the options were The last date the options were
that were exercised or other exercised or other +convertible exercised or other +convertible
+convertible securities that were securities were converted securities were converted
converted
7/8/2025 7/8/2025
500,000
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Is this all of the options or other +convertible securities on issue of that type (ie have all of those options now been exercised or have all of those convertible securities now been converted)? Yes

The right of the holder of the options or other +convertible securities to receive the +underlying securities is being satisfied by: An issue of new +securities

The underlying +securities being received by the holder are: Intended to be, but are not yet, quoted by ASX

Were the options being exercised or other +convertible securities being converted issued under an +employee incentive scheme? Yes

Are any of the options being exercised or other +convertible securities being converted held by +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates who are exercising options or converting convertible securities

Number of options being exercised or other +convertible securities Name of KMP Name of registered holder being converted Matthew Hartmann Matthew Hartmann 500,000

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Appendix 2A - Application for quotation of securities

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Issue date 7/8/2025 Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Issue details

Number of +securities to be quoted 500,000 Are the +securities being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

Conversion of vested Tranche 1 of ZEPOs issued to Mr Hartmann on 29/4/2025 under LR 7.2 Exemption 13.

Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted 0.268000

Any other information the entity wishes to provide about the +securities to be quoted

Value per ZEPO as at date of grant.

Existing +securities converting into additional +securities in an existing class FROM (Existing Class) ASX +security code and description IR1AAE : OPTION EXPIRING 29-APR-2027 EX NIL

TO (Existing Class) ASX +security code and description IR1 : ORDINARY FULLY PAID Please state the number of options The first date the options were The last date the options were that were exercised or other exercised or other +convertible exercised or other +convertible +convertible securities that were securities were converted securities were converted converted 7/8/2025 7/8/2025 500,000

Is this all of the options or other +convertible securities on issue of that type (ie have all of those options now been exercised or have all of those convertible securities now been converted)? No The right of the holder of the options or other +convertible securities to receive the +underlying securities is being satisfied by: An issue of new +securities

The underlying +securities being received by the holder are: Intended to be, but are not yet, quoted by ASX

Were the options being exercised or other +convertible securities being converted issued under an +employee incentive scheme? Yes

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Appendix 2A - Application for quotation of securities

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Are any of the options being exercised or other +convertible securities being converted held by +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates who are exercising options or converting convertible securities

		Number of options being exercised
		or other +convertible securities
Name of KMP	Name of registered holder	being converted
Matthew Hartmann	Matthew Hartmann	500,000

Issue date

7/8/2025 Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Issue details

Number of +securities to be quoted

500,000

Are the +securities being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

Conversion of vested Tranche 2 of ZEPOs issued to Mr Hartmann on 29/4/2025 under LR 7.2 Exemption 13.

Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted

0.268000

Any other information the entity wishes to provide about the +securities to be quoted

Value per ZEPO as at date of grant.

Section 4.1 IR1 : ORDINARY FULLY PAID = 223,771,227, being 179,459,382 + 44,311,845 (as per App 2A released prior to this form).

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Appendix 2A - Application for quotation of securities

Part 4 - Issued capital following quotation

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Following the quotation of the +securities the subject of this application, the issued capital 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 quoted on ASX following the +quotation of the +securities subject of this application)

+securities subject of this application)
	Total number of
ASX +security code and description	+securities on issue
IR1 : ORDINARY FULLY PAID	179,459,382

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	6,900,000
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	100,000
IR1AK : OPTION EXPIRING 31-JAN-2026 EX $1.20	500,000
IR1AP : OPTION EXPIRING 14-JUN-2026 EX $1.50	2,500,000
IR1AAD : OPTION EXPIRING 29-OCT-2026 EX NIL	0
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

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