IRIS METALS LIMITED — Share Issue/Capital Change 2026

Feb 19, 2026

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

Friday February 20, 2026

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	500,000	20/02/2026

Refer to next page for full details of the announcement

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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

ABN

Registration number

61646787135

1.3 ASX issuer code

IR1

1.4 The announcement is

New announcement

1.5 Date of this announcement

20/2/2026

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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 IR1AAF : OPTION EXPIRING 29-OCT-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 20/2/2026 20/2/2026 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)? 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

Issue date

20/2/2026

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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Number of +securities to be quoted 500,000 Are the +securities being issued for a cash consideration? Yes In what currency is the cash consideration being paid? What is the issue price per +security? AUD - Australian Dollar AUD 0.00000000 Any other information the entity wishes to provide about the +securities to be quoted

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Appendix 2A - Application for quotation of securities

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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	281,595,523

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
IR1AB : OPTION EXPIRING 01-JUN-2028 EX NIL	1,000,000
IR1AA : OPTION EXPIRING 01-DEC-2027 EX NIL	1,000,000
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
IR1AAN : OPTION EXPIRING 14-NOV-2026 EX NIL	2,000,000
IR1AAH : OPTION EXPIRING 30-SEP-2026 EX $0.25	25,097,088
IR1AAI : OPTION EXPIRING 30-JUN-2027 EX $0.20	4,000,000
IR1AAM : OPTION EXPIRING 14-AUG-2026 EX NIL	1,000,000
IR1AAL : OPTION EXPIRING 14-NOV-2027 EX NIL	2,500,000
IR1AAK : OPTION EXPIRING 14-MAY-2027 EX NIL	3,500,000
IR1AAJ : OPTION EXPIRING 14-NOV-2027 EX $0.20	16,250,000
IR1AX : PERFORMANCE RIGHTS	13,900,000

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Appendix 2A - Application for quotation of securities

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Appendix 2A - Application for quotation of securities
IR1AY : OPTION EXPIRING 14-FEB-2027 EX $0.40	200,000
IR1AW : ORDINARY FULLY PAID EMPLOYEE	25,000
IR1AAO : OPTION EXPIRING 10-FEB-2029 EX $0.2475	18,363,638
IR1AAP : OPTION EXPIRING 10-FEB-2029 EX $0.2887	2,000,000
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	0
IR1AAG : OPTION EXPIRING 30-SEP-2027 EX $0.40	2,000,000

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