Announcement PDF Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Announcement Summary Entity name RAREX LIMITED Date of this announcement Friday February 10, 2023 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 ASX +security code Security description REEAD PERFORMANCE RIGHTS Refer to next page for full details of the announcement Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 1/6 Total number of +securities to be issued/transferred Issue date 18,000,000 10/02/2023 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 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 10/2/2023 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 2/6 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 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") Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 3/6 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 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 10/2/2023 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? No 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://www.asx.com.au/asxpdf/20221101/pdf/45h419d5t761xn.pdf Any other information the entity wishes to provide about the +securities the subject of this notification 6,000,000 performance rights vesting on 1Mt contained TREO resource at Cummins Range and 24 months service 6,000,000 performance rights vesting on granting of Mining Licence at Cummins Range and 24 months service 6,000,000 performance rights vesting on positive PFS for Cummins Range and 24 months service Issue details Number of +securities 18,000,000 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 4/6 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Part 4 - +Securities on issue Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise: (A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.) 4.1 Quoted +Securities (Total number of each +class of +securities quoted) Total number of +securities on issue ASX +security code and description REE : ORDINARY FULLY PAID 579,386,576 4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX) Total number of +securities on issue ASX +security code and description REEAD : PERFORMANCE RIGHTS 58,500,000 REEAH : OPTION EXPIRING 30-NOV-2023 EX $0.15 10,000,000 REEAI : OPTION EXPIRING 31-DEC-2023 EX $0.15 7,000,000 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 5/6 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 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? Yes 5.1a Select the number of the applicable exception in Listing Rule 7.2 13 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 6/6