IRON BEAR RESOURCES LTD — Director's Dealing 2025

Mar 18, 2025

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity CYCLONE METALS LIMITED

ABN 71 095 047 920

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Paul Berend
Date of last notice	13 December 2024

Part 1 - Change of director’s relevant interests in securities In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct and Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	(a) Mrs Anna Sloboda (an entity in which Paul Berend has a relevant interest) (b) Mr Paul Henry Berend & Mrs Anna Sloboda (an entity in which Paul Berend has a relevant interest) (c) Paul Henry Victor Berend as a Trustee for Tangaroa Trust (an entity in which Paul Berend has a relevant interest)
Date of change	14 March 2025

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	Direct 2,812,500 fully paid ordinary shares 937,500 unlisted options ($0.032 each expiring 30 November 2028) Indirect (a) 3,480,000 fully paid ordinary shares (b) 1,388,751 fully paid ordinary shares (c) 5,000,000 Unlisted Class B Incentive Options ($0.10 expiring 5 December 2025) 5,000,000 Unlisted Class C Incentive Options ($0.20 expiring 5 December 2026) (c) 46,200,000 Unlisted Options ($0.032 expiring 30/11/2028)
Class	Fully paid ordinary shares
Number acquired	180,000
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$0.05 per share
No. of securities held after change	Direct 2,812,500 fully paid ordinary shares 937,500 unlisted options ($0.032 each expiring 30 November 2028) Indirect (a) 3,480,000 fully paid ordinary shares (b) 1,568,751 fully paid ordinary shares (c) 5,000,000 Unlisted Class B Incentive Options ($0.10 expiring 5 December 2025) 5,000,000 Unlisted Class C Incentive Options ($0.20 expiring 5 December 2026) (c) 46,200,000 Unlisted Options ($0.032 expiring 30/11/2028)
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On market purchase

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

Date: 19 March 2025

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3