WEEBIT NANO LTD — Interim / Quarterly Report 2016

Jan 31, 2016

Quarterly Activities Report For the three months ended 31 December 2015

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ACN 146 455 576

ASX Release

31 January 2016

Suite 8, 55 Hampden Rd Nedlands WA 6009 PO BOX 994 Subiaco WA 6904

P + 61 8 9389 9919 F + 61 8 9389 0576 E info@radariron.com.au W www.radariron.com.au

Contact

Jonathan Lea Director E jlea@radariron.com.au

Damon Sweeny

Company Secretary E damon@ampereltd.com.au

Directors

Alan Tough - Chairman Jonathan Lea - Non-Executive Ananda Kathiravelu - Non-Executive David Sourbutts - Non-Executive

Issued Capital

334,532,760 Ordinary Shares 23,500,000 Unlisted Options

ASX Code

RAD (Fully Paid Ordinary Shares)

Overview

The Board of Radar Iron Ltd (“Radar”) is pleased to present its Quarterly Activities Report for the period ended 31 December 2015.

Radar announced during the quarter the signing of an exclusive option agreement with Israeli Company Weebit Nano Ltd, to acquire 100% of a world leading Resistive Random Access Memory (ReRAM) technology. The technology is the next generation of “Flash” memory and is essential as new applications require reduced physical size but a significantly expanded data storage capacity. Full details were released in an announcement to the ASX on November 11, 2015.

During the quarter the Company focussed on the negotiation of this agreement and the due diligence process – Radar announced the satisfactory completion of due diligence to the ASX on January 7, 2016. During the current quarter Radar will focus on gaining the required regulatory and share holder approvals to permit completion of the acquisition – scheduled for April 2016.

The current addressable market for Flash Memory is approximately US$37B – ReRAM can replace Flash Memory and is expected to be widely in use by 2018. Weebit's technology is world leading being an order of magnitude smaller in size, faster, more reliable and with lower energy usage. It is at the forefront of current technology being closer to commercial development than other new generation memory products. Further technical information was included in the ASX announcement on January 15, 2016, “Semiconductor Industry Miniaturisation Breakthrough”.

No on ground exploration was completed during the quarter. Given the intended change in direction for Radar the Company is reviewing options to realise value for the assets.

A General Meeting of shareholders was held on October 27. All resolutions were passed. The resolutions largely related to the ratification of previously announced funding and remuneration arrangements.

The Annual General Meeting of Shareholders was held on November 30 – all resolutions were passed relating to procedural and governance issues.

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Quarterly Activities Report

For the Three Months Ended 31 December 2015

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YERECOIN PROJECT

Radar Iron Ltd acquired the Yerecoin Iron Ore Project in April 2014.

The Yerecoin project area is within approximately 150km of Perth and is adjacent to an accessible rail line. Yerecoin has been drilled with sufficient density to enable resource estimation. The Company has reported JORC 2012 Inferred and Indicated Mineral Resources of 383Mt – refer ASX releases of 24 April 2014 “ Major Project Acquisition ” and 8 September 2014 “ Yerecoin Resource Upgrade ” as available on the Company’s website www.radariron.com.au .

CENTRAL YILGARN PROJECT

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No field work completed. Figure 1: Project Location

CORPORATE

On October 27 shareholders approved in general meeting to issue securities to convertible noteholders who had earlier loaned funds to Radar to allow both the completion of the Yerecoin acquisition in April, and the reinstatement to trading on the ASX in August. Shareholders also approved the issue of a number of securities to Radar’s directors in consideration for remuneration foregone, or services performed which were similarly instrumental in bringing Radar to its current activities. The issue of these securities was announced on 9 December.

On 11 November Radar announced its agreement to make the strategic acquisition of Weebit Nano Ltd, the Israel based “Resistive Random Access Memory” (“ReRAM”) technology company partnering with Prof James Tour and Rice University’s Tour Lab Group in Houston, USA (Global Leader in Materials Technology).

Due diligence has been completed, the option exercised and $150,000 in option fees paid.

The remaining conditions precedent for completion of the acquisition include;

• In exchange for 100% of the issued capital in Weebit, Radar agreed to issue 750,000,000 Radar shares to the shareholders of Weebit, which will be subject to ASX escrow provisions.

• ASX providing conditional approval for Radar to be re-instated to trading on the ASX

• Recompliance with Chapters 1 and 2 of the ASX Listing Rules,

• Obtaining all necessary shareholder and regulatory approvals

• Radar undertaking a Capital Raising for at least A$5,000,

• Radar will also issue 50,000,000 options to acquire Radar shares (exercisable at a 25% premium to the Capital Raising price on or before the date that is 3 years from the date of issue) to parties who introduced and assisted with the Transaction.

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Quarterly Activities Report

For the Three Months Ended 31 December 2015

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ANNOUNCEMENTS

The Company has made the following announcements since the start of the quarter.

Date	Headline
1 October 2015	Annual Report to Shareholders
1October 2015	Appendix 4G
27 October 2015	Quarterly Activities Report
28 October 2015	Results of General meeting and Notice of Waiver
30 October 2015	Notice of AnnualGeneral Meeting/ProxyForm
2 November 2015	QuarterlyCash Flow Report
9 November 2015	Trading Halt
11 November 2015	StrategicAcquisition Agreement
19 November 2015	Weebit Roadshow and Investor Presentation
30November 2015	Results of Meeting
9 December 2015	Appendix 3B
11 December 2015	Cleansing Prospectus
15December 2015	Becoming a SubstantialShareholder
21 December 2015	Change of Director’s Interest Notice x 4
7January2016	RadarandWeebit CompleteDueDiligence
15 January2016	Semiconductor Industry Miniaturisation Breakthrough

For or on behalf of Radar Iron Ltd

Damon Sweeny Company Secretary

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Quarterly Activities Report

For the Three Months Ended 31 December 2015

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COMPETENT PERSON’S STATEMENT

The information in this report that relates to Exploration Results is based on information compiled by Mr Jonathan Lea, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Lea is a full-time employee of Radar Iron Ltd and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Lea consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

PREVIOUS REPORTED RESULTS

A Mineral Resource was established previously for the Yerecoin Magnetite Deposit. This information was reported under the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The Mineral Resource was detailed ASX releases that are available to view on the Company’s website www.radariron.com.au. The ASX releases were:

“Major Project Acquisition” on 24/04/2014

“Yerecoin Resource Upgrade” on 08/09/2014

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the data in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of indicated mineral resources or that any production target itself will be realised.

CAUTION REGARDING FORWARD LOOKING INFORMATION

This document contains forward looking statements concerning Radar. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward looking statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company’s actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of, the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes. Forward looking statements in this document are based on Radar’s beliefs, opinions and estimates of Radar as of the dates the forward looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future development.

APPENDIX 1 – TENEMENTS HELD AT 31 DECEMBER 2015

Lease	Location	Interest at End of Quarter	Acquired During the Quarter	Disposed of During the Quarter
E77/2240	Yilgarn WA	75.5
E70/2733	Yerecoin WA	100
E70/2784	Yerecoin WA	100
E70/3990	Yerecoin WA	100
E70/4388	Yerecoin WA	100
E70/4391	Yerecoin WA	100

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