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	Steve Formica
Date of last notice	2 September 2019

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.	a)Stevsand Pty Ltdb)StevsandHoldingsPtyLtdc)StevsandInvestmentsPtyLtd
Date of change	13 April 2021
No. of securities held prior to change	a)3,000,000Fully paid OrdinarySharesb)1,600,000Fully paid OrdinarySharesc)12,116,666Fully paidOrdinaryShares;3,000,000 Unlisted Options;expiringprice of $0.015, expiring 2September 2022;4,000,000 Unlisted Optionsexpiring price of $0.02expiring 8June 2021

+ See chapter 19 for defined terms.

Class	a)Fully paid OrdinarySharesb)Fully paid Ordinary Sharesc)Fully paid Ordinary Shares;Unlisted Options, exp price$0.015,expiring 2 September 2022;Unlisted Options, exp price $0.02,expiring 8 June 2021.
Number acquired	Nil
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	N/a
No. of securities held after change	a)600,000FullypaidOrdinarySharesb)320,000FullypaidOrdinaryShares;c)2,423,334FullypaidOrdinaryShares;600,000UnlistedOptions,expprice $0.075, expiring 2 September2022;800,000UnlistedOptions,expprice of $0.010, expiring 8 June2021.
Nature of changeExample: on-market trade, off-market trade, exercise of options, issueof securities under dividend reinvestment plan, participation in buyback	Ashareconsolidationapprovedbyshareholders at Ragnar MetalsLimited'sGeneral Meeting on 7 April 2021. As aresult, the number of Ordinary Shares andUnlisted Optionsheld by the Director hasbeen consolidated throughthe conversionof every five (5) fully paid ordinary sharesor unlisted options into one (1) fully paidordinary shareor unlisted option (subjectto rounding),as per the Company's Noticeof General Meeting.

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

+ See chapter 19 for defined terms.

Date of change	Not applicable
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed	Not applicable
Interest acquired	Notapplicable
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

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

+ See chapter 19 for defined terms.