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:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and 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
New class - code	OPTION EXPIRING 24-APR-2027 EX $0.40	10,000,000	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:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Previous Appendix 3B details:

Announcement Date and	Announcement Title	Selected Appendix 3B to submit quotation
Time		request
17-Apr-2025 17:32	Update - Update - Proposed issue of	A placement or other type of issue
	securities - IR1

2.3a.2 Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B?

No

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Part 3A - number and type of +securities the subject of this notification (existing class or new class) where issue has previously been notified to ASX in an Appendix 3B

Placement Details

ASX +security code and description

new unquoted class of security

Date the +securities the subject of this notification were issued

24/4/2025

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

As approved by shareholders on 2 April 2025 (Resolution 4).

As noted in Cleansing Prospectus released to ASX on 23 April 2025.

Issue details

Number of +securities

10,000,000

Were the +securities issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

Full consideration for Corporate Advisory Services 12 month mandate with 5 Point 8 Capital Pty Ltd, comprising of 10 million Options.

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

ASX +security code +Security description New class - code to be confirmed OPTION EXPIRING 24-APR-2027 EX $0.40 +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 4 and Annexure A). https://stocknessmonster.com/announcements/ir1.asx-3A662910/

Options Details

+Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.40000000 24/4/2027

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

1 IR1 share to be issued per option exercised. Section 4.1 IR1 = 172,459,382, being 170,959,382 + 1,500,000 (as per App 2A issued prior to this form).

Issue details

Number of +securities

10,000,000

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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	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-2027 EX $0.40	10,000,000

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

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