RAGNAR METALS LIMITED — Director's Dealing 2021

Apr 14, 2021

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	David Wheeler
Date of last notice	20 March 2018

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 relevantinterest.	Pathways CorpInvestments PtyLtd<pcInvestmentA/c></pc
Date of change	13 April 2021
No. of securities held prior to change	2,000,000 Unlisted Options, expiring priceof $0.025, expiring 8 June 2021
Class	UnlistedOptions,expprice$0.125,expiring 8 June 2021
Number acquired	Nil
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	N/a

+ See chapter 19 for defined terms.

No. of securities held after change	400,000UnlistedOptions,expprice$0.125, expiring 8 June 2021.
Nature of changeExample: on-market trade, off-market trade, exercise of options, issueof securities under dividend reinvestment plan, participation in buyback	Ashareconsolidationapprovedbyshareholders at Ragnar Metals Limited'sGeneral Meeting on 7 April 2021. As aresult, the number of Ordinary Shares andUnlisted Options held by the Director hasbeen consolidated throughthe conversionof every five (5) unlisted options into one(1) unlisted option (subject to rounding),as per the Company's Notice of GeneralMeeting.

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	Notapplicable
(if issued securities)
Date of change	Not applicable
No. and class of securities to which	Not applicable
interest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed
Interest acquired	Not applicable
Interest disposed	Not applicable
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation	Not applicable
Interest after change	Not applicable

Part 3 – +Closed period

+ See chapter 19 for defined terms.

No
Not applicable
Not applicable
Were the interests in the securities or contracts detailedwhere prior writtenIf so, was prior written clearance provided to allow theIf prior written clearance was provided, on what date was

+ See chapter 19 for defined terms.