IRON ROAD LIMITED — Capital/Financing Update 2021

May 9, 2021

10 May 2021

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ASX ANNOUNCEMENT

Iron Road Ltd (Iron Road, ASX: IRD)

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PLACEMENT CLEANSING NOTICE UNDER SECTION 708A(5)(E) OF THE CORPORATIONS ACT

Iron Road Ltd (Iron Road, ASX: IRD) ( Company ) has issued 19,767,444 fully paid ordinary shares following a share placement and 465,116 fully paid ordinary shares for professional services ( Issue ).

Details of the Issue:

Class of securities: Ordinary shares ASX code of securities: IRD Date of the issue: 10 May 2021 Total number of shares issued: 20,232,560

The Company advises that:

1. The shares offered under the Issue were issued without disclosure to investors under Part 6D.2 Corporations Act 2001 (Cth) (Corporations Act).

2. This notice is given under section 708A(5)(e) of the Corporations Act.

3. As at the date of this notice, the Company has complied with the provisions of Chapter 2M Corporations Act as they apply to Iron Road and has complied with section 674 Corporations Act.

4. As at the date of this notice, there is no excluded information of the type referred to in sections 708A(7) and 708A(8) of the Corporations Act that has not already been disclosed to investors generally.

Authorised for release by the board of Iron Road Ltd

For further information, please contact:

Larry Ingle, Chief Executive Officer Iron Road Ltd Tel: +61 8 8214 4400

Jarek Kopias, Company Secretary Iron Road Ltd

ASX: IRD admin@ironroadlimited.com.au www.ironroadlimited.com.au

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[GPO Box 1164, Adelaide SA 5001, Australia | T +61 (8) 8214 4400 ] admin@ironroadlimited.com.au | ironroadlimited.com.au | ABN: 51 128 698 108