RAGNAR METALS LIMITED — Director's Dealing 2021

May 20, 2021

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 RAGNAR METALS LIMITED ABN 12 108 560 069

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	Steve Formica
Date of last notice	15 April 2021

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	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Director, trustee and / or beneficiary of the following related party entities; i) Stevsand Pty Ltd ii) Stevsand Holdings Pty Ltd Horticultural A/c> iii) Stevsand Investments Pty Ltd Formica Family A/c> iv) Formica Investments Pty Ltd FormicaFamilyA/c>
Date of change	19 May 2021
No. of securities held prior to change	i) 600,000 Fully paid Ordinary Shares ii) 320,000 Fully paid Ordinary Shares; iii) 2,423,334 Fully paid Ordinary Shares; 600,000 Unlisted Options, exp price $0.075, expiring 2 September 2022; 800,000 Unlisted Options, exp price of $0.010, expiring 8 June 2021. iv) Nil
Class	a) Fully paid Ordinary Shares b) Listed Options, exp price $0.04, expiring 19/05/2023; c) Listed Options, exp price $0.04, expiring 19/05/2023 (escrowed 24 months).

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number acquired	a) 5,000,000 Fully paid Ordinary Shares b) 1,666,666 Listed Options, exp price $0.04, expiring 19/05/2023 c) 6,000,000 Listed Director Options, exp price $0.04, expiring 19/05/2023 (escrowed 24 months).
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	a) $0.02 per Fully paid Ordinary Shares b) Nil cash consideration for Listed Options (free-attaching); c) Nil cash consideration for Listed Director Options (escrowed24 months).
No. of securities held after change	i) 600,000 Fully paid Ordinary Shares; ii) 320,000 Fully paid Ordinary Shares; iii) 2,423,334 Fully paid Ordinary Shares; 600,000 Unlisted Options, exp price $0.075, expiring 2 September 2022; 800,000 Unlisted Options, exp price of $0.010, expiring 8 June 2021. 6,000,000 Listed Director Options, exp price $0.04, expiring 19/05/2023, (escrowed 24 months); iv) 5,000,000 Fully paid Ordinary Shares; 1,666,666 Listed Options, exp price $0.04, expiring 19/05/2023
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy- back	Issue of Ordinary Shares and Options pursuant to the Offer approved by Shareholders at the General Meeting held on 7 April 2021.

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	Not applicable
Nature of interest	Not applicable
Name of registered holder (if issued securities)	Not applicable
Date of change	Not applicable
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	Not applicable
Interest acquired	Not applicable
Interest disposed	Not applicable

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	Not applicable
Interest after change	Not applicable

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed above traded No during a[+] closed period where prior written clearance was required? If so, was prior written clearance provided to allow the trade to Not applicable proceed during this period? If prior written clearance was provided, on what date was this Not applicable provided?

• See chapter 19 for defined terms.

01/01/2011

Appendix 3Y Page 3