RAREX LIMITED — Share Issue/Capital Change 2026

Jan 29, 2026

Appendix 2A - Application for quotation of securities

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Announcement Summary

Entity name

RAREX LIMITED

Announcement Type

New announcement

Date of this announcement

Friday January 30, 2026

The +securities to be quoted are:

+Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities being converted

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
REE	ORDINARY FULLY PAID	11,500,000	29/01/2026

Refer to next page for full details of the announcement

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Appendix 2A - Application for quotation of securities

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Part 1 - Entity and announcement details

1.1 Name of entity

RAREX LIMITED

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type

ABN

Registration number

65105578756

1.3 ASX issuer code

REE

1.4 The announcement is

New announcement

1.5 Date of this announcement

30/1/2026

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Appendix 2A - Application for quotation of securities

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Part 2 - Type of Issue

2.1 The +securities to be quoted are:

+Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities being converted

2.2 The +class of +securities to be quoted is:

Additional +securities in a class that is already quoted on ASX ("existing class")

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Appendix 2A - Application for quotation of securities

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

Existing +securities converting into	additional +securities in an existing	class
FROM (Existing Class)
ASX +security code and description
REEAD : PERFORMANCE RIGHTS
TO (Existing Class)
ASX +security code and description
REE : ORDINARY FULLY PAID
Please state the number of options	The first date the options were	The last date the options were
that were exercised or other	exercised or other +convertible	exercised or other +convertible
+convertible securities that were	securities were converted	securities were converted
converted		22/1/2026
11,500,000

Is this all of the options or other +convertible securities on issue of that type (ie have all of those options now been exercised or have all of those convertible securities now been converted)? No The right of the holder of the options or other +convertible securities to receive the +underlying securities is being satisfied by: An issue of new +securities The underlying +securities being received by the holder are: Intended to be, but are not yet, quoted by ASX Were the options being exercised or other +convertible securities being converted issued under an +employee incentive scheme? Yes Are any of the options being exercised or other +convertible securities being converted held by +key management personnel (KMP) or an +associate? Yes Provide details of the KMP or +associates who are exercising options or converting convertible securities Number of options being exercised or other +convertible securities Name of KMP Name of registered holder being converted James Durrant Sibon Legacy Pty Ltd James Durrant Ms Toni Louise Gianatti 2,000,000

Issue date

29/1/2026

Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

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Appendix 2A - Application for quotation of securities

Issue details

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Number of +securities to be quoted 11,500,000 Are the +securities being issued for a cash consideration? No Please describe the consideration being provided for the +securities Conversion of vested performance rights Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted

0.030000

Any other information the entity wishes to provide about the +securities to be quoted

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Appendix 2A - Application for quotation of securities

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Part 4 - Issued capital following quotation

Following the quotation of the +securities the subject of this application, the issued capital 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 quoted on ASX following the +quotation of the +securities subject of this application)

+securities subject of this application)
	Total number of
ASX +security code and description	+securities on issue
REE : ORDINARY FULLY PAID	1,030,982,201
REEO : OPTION EXPIRING 22-OCT-2028	106,818,181
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	68,500,000
REEAN : OPTION EXPIRING 22-OCT-2028 EX $0.033	15,000,000
REEAO : OPTION EXPIRING 07-JAN-2029 EX $0.045	1,000,000
REEAL : OPTION EXPIRING 23-SEP-2028 EX $0.025	30,000,000
REEAM : OPTION EXPIRING 13-OCT-2028 EX $0.046	43,000,000
REEAJ : OPTION EXPIRING 01-MAR-2026 EX $0.10	4,500,000

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

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