Ioneer : Investor Presentation NWR Conference 20 June 2024

INVESTOR PRESENTATION

June 2024

Critical Materials in the U.S. for a Sustainable Planet

: IONR	ASX : INR	www.ioneer.com

B Li

Disclaimer

This presentation has been prepared as a summary only and does not contain all information about ioneer Ltds (ioneer or the Company) assets and liabilities, financial position and performance, profits and losses, prospects, and the rights and liabilities attaching to ioneer's securities. The securities issued by ioneer are considered speculative and there is no guarantee that they will make a return on the capital invested, that dividends will be paid on the shares or that there will be an increase in the value of the shares in the future.

ioneer does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this presentation. Recipients of this presentation should carefully consider whether the securities issued by ioneer are an appropriate investment for them in light of their personal circumstances, including their financial and taxation position. Investors should make and rely upon their own enquiries before deciding to acquire or deal in the Company's securities.

Forward Looking Statements

Various statements in this presentation constitute statements relating to intentions, future acts and events which are generally classified as "forward looking statements". These forward-looking statements are not guarantees or predictions of future performance and involve known and unknown risks, uncertainties and other important factors (many of which are beyond the Company's control) that could cause those future acts, events and circumstances to differ materially from what is presented or implicitly portrayed in this presentation.

For example, future reserves described in this presentation may be based, in part, on market prices that may vary significantly from current levels. These variations may materially affect the timing or feasibility of particular developments.

Words such as "anticipates", "expects", "intends", "plans", "believes", "seeks", "estimates", "potential" and similar expressions are intended to identify forward-looking statements.

ioneer cautions security holders and prospective security holders to not place undue reliance on these forward-looking statements, which reflect the view of ioneer only as of the date of this presentation.

The forward-looking statements made in this presentation relate only to events as of the date on which the statements are made. Except as required by applicable regulations or by law, ioneer does not undertake any obligation to publicly update or review any forward-looking statements, whether as a result of new information or future events. Past performance cannot be relied on as a guide to future performance.

Competent Persons Statement

In respect of Mineral Resources and Ore Reserves referred to in this presentation and previously reported by the Company in accordance with JORC Code 2012, the Company confirms that it is not aware of any new information or data that materially affects the information included in the public reports titled "Rhyolite Ridge Ore Reserve Increased 280% to 60 million tonnes" dated 30 April 2020 and "Mineral Resource increases by 168% to 3.4 Mt lithium carbonate Underscores growth potential for U.S. supply chain" dated 26 April 2023, released on ASX. Further information regarding the Mineral Resource estimate can be found in that report. All material assumptions and technical parameters underpinning the estimates in the report continue to apply and have not materially changed.

In respect of production targets referred to in this presentation, the Company confirms that it is not aware of any new information or data that materially affects the information included in the public report titled "ioneer Delivers Definitive Feasibility that Confirms Rhyolite Ridge as a World-Class Lithium and

Boron Project" dated 30 April 2020. Further information regarding the production estimates can be found

in that report. All material assumptions and technical parameters underpinning the estimates in the report continue to apply and have not materially changed.

No offer of securities

Nothing in this presentation should be construed as either an offer to sell or a solicitation of an offer to buy or sell ioneer securities in any jurisdiction or be treated or relied upon as a recommendation or advice by ioneer.

Reliance on third party information

The views expressed in this presentation contain information that has been derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information. This presentation should not be relied upon as a recommendation or forecast by ioneer.

Lithium Carbonate Equivalent

The formula used for the Lithium Carbonate Equivalent (LCE) values quoted in this presentation is: LCE = (lithium carbonate tonnes produced + lithium hydroxide tonnes produced * 0.880

Note

All $'s in this presentation are US$'s except where otherwise noted.

: IONR	ASX : INR	www.ioneer.com

Rhyolite Ridge - A Construction Ready Li-B Project

in the United States

: IONR	ASX : INR	www.ioneer.com

What Differentiates Ioneer from other emerging lithium companies

Permitting	Partnerships	Funding
Expecting to be fully	Binding agreements with	US$490 million conditional
permitted in late 2024	Ford (SK), Toyota-Panasonic	financing from Sibanye-
	and EcoPro	Stillwater

Debt	Engineering	Growth
US$700 million conditional	State of the art facility with	Multi-generational scale
loan from U.S. Dept of Energy	construction set to commence	potential with 3.4Mt LCE
Loan Programs Office	upon permitting approval	Mineral Resource Estimate*
	Over 70% complete

: IONR	ASX : INR	www.ioneer.com

• See Company announcement titled "Mineral Resource update delivers high grade, shallow shelf zone, outside of critical habitat" dated 30 April 2024

Best in Class Partners

Technically led approach

EPCM

Evaporation and

Crystallization

Material

Handling

Power and

Controls

Pumps

Environmental

Leaching

Acid Plant

Haulage

System

Maint. &

Support

Flotation

Lime

>US$170m		PFS, Pilot Plant, DFS completed,
invested to date		Engineering ready. Fluor is EPCM

Signed binding lithium offtake agreements

Funding

Sibanye-Stillwater to be a 50% JV		U.S. Dept of Energy Loan Programs Office
	Conditional Commitment offer for a loan of
partner for US$490m1
	up to US$700m2

: IONR	ASX : INR	www.ioneer.com

1Subject to closing conditions as outlined in the 16 September 2021 announcement "Sibanye-Stillwater to Invest US$490 Million to Advance Rhyolite Ridge to Production" 2Subject to closing conditions as outlined in the 16 January 2023 announcement "U.S. Department of Energy Offers Conditional Commitment for a loan of up to US$700 Million"

2024 Catalysts

Updated	Updated	Updated
Capex / Opex
Resource	Reserve &
Estimate
	Mine Plan

Final	Federal	Final
Environmental	Record of	Investment
Impact	Decision	Decision
Statement

: IONR	ASX : INR	www.ioneer.com

Supply Chain Security

: IONR	ASX : INR	www.ioneer.com	Source: IEA. International Energy Agency, Website www.iea.org

Supply Chain Security

: IONR	ASX : INR	www.ioneer.com	Source: IEA. International Energy Agency, Website www.iea.org

Supply Chain Security - U.S. Context

RHYOLITE RIDGE

Li-B PROJECT

Currently there is just one Lithium mine and one boron mine in the U.S.

: IONR	ASX : INR	www.ioneer.com

Source: US Department of Energy. Critical Minerals 101: What's so critical about Critical Minerals. www.energy.gov/cmm/what-are-critical-materials-and-critical-minerals

Critical Minerals in the U.S.

The National Defense Authorization Act for fiscal year 2024 included an

amendment to study boron supply chains

: IONR	ASX : INR	www.ioneer.com

Source: US Department of Energy. Critical Minerals 101: What's so critical about Critical Minerals. www.energy.gov/cmm/what-are-critical-materials-and-critical-minerals