IRIS METALS LIMITED — Share Issue/Capital Change 2025

Feb 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 February 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
New class - code	OPTION EXPIRING 14-FEB-2027 EX $0.40	200,000	14/02/2025
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

14/2/2025

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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 unlisted options as consideration for services provided by a supplier.

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

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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 14-FEB-2027 EX $0.40
+Security type		ISIN code
Options
Date the +securities the subject of this notification were issued
14/2/2025
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.
Fully vested on issue. Standard terms and conditions as expected for options of this type, with terms similar to as outlined in prior shareholder
notice of meetings.
Options Details
+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.40000000	14/2/2027
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 Converts into 1 IR1 share for each option exercised.

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

Issue of unlisted options as consideration for services provided by a supplier as approved by the Board on 14 February 2025.

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

Issue details

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Number of +securities

200,000

Were the +securities issued for a cash consideration? No

Please describe the consideration being provided for the +securities

Issue of unlisted options as consideration for services provided by a supplier.

Purpose of the issue To pay for services rendered Additional Details

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity 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	170,909,382
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
IR1AV : OPTION EXPIRING 31-DEC-2025 EX $0.40	6,500,000
IR1AW : ORDINARY FULLY PAID EMPLOYEE	150,000
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 14-FEB-2027 EX $0.40	200,000

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

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

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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? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? 200,000 options

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

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