IRIS METALS LIMITED — Share Issue/Capital Change 2025

Apr 23, 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

Thursday April 24, 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
New class - code	OPTION EXPIRING 24-APR-2026 EX $0.00	500,000	24/04/2025
to be confirmed
New class - code	OPTION EXPIRING 24-OCT-2026 EX $0.00	500,000	24/04/2025
to be confirmed
New class - code	OPTION EXPIRING 24-APR-2027 EX $0.00	500,000	24/04/2025
to be confirmed

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

1.2 Registered number type Registration number ABN 61646787135

1.3 ASX issuer code

IR1

1.4 The announcement is

New announcement

1.5 Date of this announcement

24/4/2025

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

Other

Please specify

Allotment of 1.5m options (Res 7 and Annex D of NOM) as approved by holders at EGM held on 2/4/25.

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

does not have an existing ASX security code ("new class")

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Part 3C - number and type of +securities the subject of this notification (new class)

New +securities

ASX +security code +Security description New class - code to be confirmed OPTION EXPIRING 24-APR-2026 EX $0.00 +Security type ISIN code Options Date the +securities the subject of this notification were issued 24/4/2025 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. Refer EGM NOM release to the ASX on 27 Feb 2025 (Resolution 7 and Annexure D). https://stocknessmonster.com/announcements/ir1.asx-3A662910/

Options Details

+Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.00000000 24/4/2026

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

IR1 : ORDINARY FULLY PAID

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

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

Director incentive securities approved by shareholders.

Refer EGM NOM release to the ASX on 27 Feb 2025 (Resolution 7 and Annexure D). https://stocknessmonster.com/announcements/ir1.asx-3A662910/

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Issue details

Number of +securities

500,000

Were the +securities issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

Director incentive securities approved by shareholders.

Purpose of the issue

Other

Additional Details

Director incentive securities approved by shareholders.

New +securities

ASX +security code +Security description New class - code to be confirmed OPTION EXPIRING 24-OCT-2026 EX $0.00 +Security type ISIN code Options

Date the +securities the subject of this notification were issued

24/4/2025

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. Refer EGM NOM release to the ASX on 27 Feb 2025 (Resolution 7 and Annexure D). https://stocknessmonster.com/announcements/ir1.asx-3A662910/

Options Details

+Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.00000000 24/10/2026

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

IR1 : ORDINARY FULLY PAID

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

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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

Director incentive securities approved by shareholders. Refer EGM NOM release to the ASX on 27 Feb 2025 (Resolution 7 and Annexure D). https://stocknessmonster.com/announcements/ir1.asx-3A662910/

Issue details

Number of +securities

500,000

Were the +securities issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

Director incentive securities approved by shareholders.

Purpose of the issue

Other

Additional Details

Director incentive securities approved by shareholders.

New +securities

ASX +security code

+Security description

New class - code to be confirmed OPTION EXPIRING 24-APR-2027 EX $0.00

+Security type

ISIN code

Options

Date the +securities the subject of this notification were issued

24/4/2025

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1?

No Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Refer EGM NOM release to the ASX on 27 Feb 2025 (Resolution 7 and Annexure D). https://stocknessmonster.com/announcements/ir1.asx-3A662910/

Options Details

+Security currency

AUD - Australian Dollar

Exercise price AUD 0.00000000

Expiry date 24/4/2027

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Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

IR1 : ORDINARY FULLY PAID

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

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

Director incentive securities approved by shareholders. Refer EGM NOM release to the ASX on 27 Feb 2025 (Resolution 7 and Annexure D). https://stocknessmonster.com/announcements/ir1.asx-3A662910/

Issue details

Number of +securities

500,000

Were the +securities issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

Director incentive securities approved by shareholders.

Purpose of the issue Other

Additional Details

4.1.IR1=172,459,382,being170,959,382+1.5m(prior App2A) 4.2.OPT EXP 24/4/27 EX $0.40=10m(prior App3G)

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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 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	170,959,382
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
IR1AX : PERFORMANCE RIGHTS	1,500,000
IR1AH : OPTION EXPIRING 31-JUL-2025 RESTRICTED	1,500,000
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
IR1AM : ORDINARY FULLY PAID RESTRICTED	5,500,000
IR1AN : PERFORMANCE RIGHTS RESTRICTED	4,200,000
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	7,893,741
IR1AR : OPTION EXPIRING 31-JUL-2025 EX $0.40	16,100,000
New class - code to be confirmed : OPTION EXPIRING 24-APR-2026 EX $0.00	500,000
New class - code to be confirmed : OPTION EXPIRING 24-OCT-2026 EX $0.00	500,000
New class - code to be confirmed : OPTION EXPIRING 24-APR-2027 EX $0.00	500,000

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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