RAGNAR METALS LIMITED — Director's Dealing 2021

Nov 10, 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	Ariel (Eddie) King
Date of last notice	28 June 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	Direct and Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	i)Ariel Edward Kingii)La Paz Resources Pty Ltd (Director ofentity)iii) King Corporate Pty Ltd (Director ofentity)
Date of change	5 November 2021
No. of securities held prior to change	i)3,300,000 Fully paid Ordinary Shares833,333 Listed Options, exp price $0.04,expiring 19 May 2023;ii)6,000,000 Unlisted Director Options, expprice$0.04,expiring19May2023(escrowed 24 months).iii) 500,000 Fully paid Ordinary Shares.
Class	Unlisted Options
Number acquired	4,000,000
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$40.00

• 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 after change	i)3,300,000 Fully paid Ordinary Shares833,333 Listed Options, exp price $0.04,expiring 19 May 2023;ii) 6,000,000 Unlisted Director Options, expprice$0.04,expiring19May2023(escrowed 24 months).iii) 500,000 Fully paid Ordinary Shares;4,000,000 Unlisted Options, exp price$0.0564, expiring 4 November 2024
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back	Issue of Incentive Options approved by Shareholdersat the Annual General Meeting held on 5 November2021.

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 whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed	Not applicable
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

Part 3 –+Closed period
Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	No
If so, was prior written clearance provided to allow the tradeto proceed during this period?	Not applicable
If prior written clearance was provided, on what date was thisprovided?	Not applicable

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011