RAREX LIMITED — Share Issue/Capital Change 2025

Oct 13, 2025

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Announcement Summary

Entity name

RAREX LIMITED

Date of this announcement

Tuesday October 14, 2025

The +securities the subject of this notification are:

+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
REEAD	PERFORMANCE RIGHTS	45,000,000	13/10/2025
New class - code	Options exercisable at $0.046	41,000,000	13/10/2025
to be confirmed

Refer to next page for full details of the announcement

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Part 1 - Entity and announcement details

1.1 Name of entity

RAREX LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type Registration number ABN 65105578756

1.3 ASX issuer code

REE

1.4 The announcement is

New announcement

1.5 Date of this announcement

14/10/2025

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

has an existing ASX security code ("existing class") does not have an existing ASX security code ("new class")

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Part 3B - number and type of +securities the subject of this notification (existing class) where issue has not previously been notified to ASX in an Appendix 3B

ASX +security code and description

REEAD : PERFORMANCE RIGHTS

Date the +securities the subject of this notification were issued

13/10/2025

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
James Durrant	Sibon Legacy Pty Ltd	35,000,000
Jeremy Robinson	Mr Jeremy Kim Robinson	10,000,000

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

https://announcements.asx.com.au/asxpdf/20250820/pdf/06n3k8jbnmtd9y.pdf

Any other information the entity wishes to provide about the +securities the subject of this notification As approved by shareholders on 23 September 2025

Issue details

Number of +securities

45,000,000

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Part 3C - number and type of +securities the subject of this notification (new class)

ASX +security code New class - code to be confirmed	+Security description Options exercisable at $0.046
+Security type	ISIN code
Options

Date the +securities the subject of this notification were issued

13/10/2025

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
James Durrant	Sibon Legacy Pty Ltd	15,000,000
Jeremy Robinson	Mr Jeremy Kim Robinson	10,000,000
Danny Goeman	Mr Danny Goeman	8,000,000
Shaun Hardcastle	CYM Holdings Pty Ltd	8,000,000

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

https://announcements.asx.com.au/asxpdf/20250820/pdf/06n3k8jbnmtd9y.pdf

Options Details

+Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.04600000 13/10/2028

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

REE : ORDINARY FULLY PAID

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

https://announcements.asx.com.au/asxpdf/20250820/pdf/06n3k8jbnmtd9y.pdf

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Any other information the entity wishes to provide about the +securities the subject of this notification

As approved by shareholders on 23 September 2025

Issue details

Number of +securities

41,000,000

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this notification, the +securities of the entity will comprise:

The figures in parts 4.1 and 4.2 below are automatically generated and may not reflect the entity's current issued capital if other Appendix 2A, Appendix 3G or Appendix 3H forms are currently with ASX for processing.

4.1 Quoted +securities (Total number of each +class of +securities issued and quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
REE : ORDINARY FULLY PAID	1,010,391,292
4.2 Unquoted +securities (Total number of each +class of +securities issued but	not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
REEAK : OPTION EXPIRING 27-DEC-2027 EX $0.018	33,000,000
REEAD : PERFORMANCE RIGHTS	80,000,000
REEAL : OPTION EXPIRING 23-SEP-2028 EX $0.025	30,000,000
REEAJ : OPTION EXPIRING 01-MAR-2026 EX $0.10	4,500,000
New class - code to be confirmed : Options exercisable at $0.046	41,000,000

4.2 Unquoted +securities (Total number of each +class of +securities issued but not quoted on ASX)

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

23/9/2025

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