IRIS METALS LIMITED - Director's Dealing 2025

Appendix 3X Initial Director's Interest Notice

Rule 3.19A.1

Appendix 3X

Initial 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 becomes ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	IRIS Metals Limited
ABN	61 646 787 135

We (the entity) give ASX the following information under listing rule 3.19.A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of director	Christopher Allan Evans
Date of appointment	01 December 2025

Part 1 - Director's relevant interests in securities of which the director is the registered holder

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.

Number & class of securities

Nil

Part 2 - Director's relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature ofinterestNote: Provide details of the circumstancesgiving rise to the relevant interest.Nil	Number & class of SecuritiesNil

Part 3 - 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	"Confirmation of Appointment as Non ExecutiveDirector" Letter between IR1 and Mr Christopher AllanEvans

See chapter 19 for defined terms.

11/03/2002

Appendix 3X Page 1

Appendix 3X Initial Director's Interest Notice

		Nature of interest	2,000,000 unlisted ZEPOs expiring at 5:00 pm (Sydneytime) on the date that is eighteen (18) months from theDate ofVesting ("Expiry Date"), comprising:(i) Class A Options (1,000,000): will vest on the datethat is six (6) months from the date of appointment ofMr Evans as a director of the Company, with Mr Evansrequired to be a director of Company at this time, withthe condition being a ‘cliff face’ condition and noproportional vesting permitted ("Date of Vesting");(ii) Class B Options (1,000,000): will vest on the datethat is twelve (12) months from the date of appointmentof Mr Evans as a director of the Company, with MrEvans required to be a director of Company at thistime, with the condition being a ‘cliff face’ condition andno proportional vesting permitted ("Date of Vesting");(a) to be issued under Listing Rule 10.12 Exemption 12;d	2,000,000 unlisted ZEPOs expiring at 5:00 pm (Sydneytime) on the date that is eighteen (18) months from theDate ofVesting ("Expiry Date"), comprising:(i) Class A Options (1,000,000): will vest on the datethat is six (6) months from the date of appointment ofMr Evans as a director of the Company, with Mr Evansrequired to be a director of Company at this time, withthe condition being a ‘cliff face’ condition and noproportional vesting permitted ("Date of Vesting");(ii) Class B Options (1,000,000): will vest on the datethat is twelve (12) months from the date of appointmentof Mr Evans as a director of the Company, with MrEvans required to be a director of Company at thistime, with the condition being a ‘cliff face’ condition andno proportional vesting permitted ("Date of Vesting");(a) to be issued under Listing Rule 10.12 Exemption 12;d
			an
			(b) The unlisted options are to be issued under theCompany’s current Employee Securities Incentive Plan,and are subject to the completion and return of therequired documentation including offer letter and ListingRule 7.2 Exemption 13.
		Name of registered holder (ifissued securities)	Mr Christopher Allan Evans (or nominee)
		No. and class of securities tohih itt lt	2,000,000 unlisted ZEPOs expiring at 5:00 pm (Sydneyti th dt tht i iht 18 th f th
		wc neres reaes	me) on e ae a s egeen () mons rom eDate ofVesting ("Expiry Date"), comprising:(i) Class A Options (1,000,000): will vest on the datethat is six (6) months from the date of appointment ofMr Evans as a director of the Company, with Mr Evansrequired to be a director of Company at this time, withthe condition being a ‘cliff face’ condition and noproportional vesting permitted ("Date of Vesting");(ii) Class B Options (1,000,000): will vest on the datethat is twelve (12) months from the date of appointmentof Mr Evans as a director of the Company, with MrEvans required to be a director of Company at thistime, with the condition being a ‘cliff face’ condition andno proportional vesting permitted ("Date of Vesting");(a) to be issued under Listing Rule 10.12 Exemption 12;and(b) The unlisted options are to be issued under theCompany’s current Employee Securities Incentive Plan,and are subject to the completion and return of therequired documentation including offer letter and ListingRule 7.2 Exemption 13.

See chapter 19 for defined terms.

Appendix 3X Page 2

11/03/2002

AI assistant

IRIS METALS LIMITED Director's Dealing 2025

65139_rns_2025-11-30_76592fc2-6432-4473-b010-5ee1248a7573.pdf

Appendix 3X

Initial Director's Interest Notice

Part 1 - Director's relevant interests in securities of which the director is the registered holder

Number & class of securities

Part 2 - Director's relevant interests in securities of which the director is not the registered holder

Part 3 - Director's interests in contracts

Appendix 3X Initial Director's Interest Notice

AI assistant

IRIS METALS LIMITED — Director's Dealing 2025

65139_rns_2025-11-30_76592fc2-6432-4473-b010-5ee1248a7573.pdf

Appendix 3X

Initial Director's Interest Notice

Part 1 - Director's relevant interests in securities of which the director is the registered holder

Number & class of securities

Part 2 - Director's relevant interests in securities of which the director is not the registered holder

Part 3 - Director's interests in contracts

Appendix 3X Initial Director's Interest Notice

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