Investor Presentaiton

Rhyolite Ridge Lithium-Boron Project INR Fact Sheet¹ Location Nevada, USA Project Stage Bankable Feasibility Study Products Resources² Production Li2CO3, LiOH, B 146.5Mt Li 22,000 tpa B 174,400 tpa Capex US$785M All in sustaining cash cost US$2,510t of LCE EBITDA After-tax NPV8 US$288M (LOM) US$1.265B After-tax IRR 20.8% Payback 5.2 years ioneer Investor Presentation Oregon Idaho Winnemucca Elko 80 NEVADA Reno Hawthorne Tonopah Goldfield Rhyolite Ridge Lithium-Boron Project 95 California ioneer 0 50 100 Km 0 25 50 Miles ioneer N Utah Location • Esmeralda County, NV 25km west of Albemarle's Silver Peak lithium mine Tier-one mining jurisdiction Highlights Most advanced Li Project in the US World-Scale Resource Unique lithium-boron deposit 26+ year mine life with significant upside from Resource base Las Vegas Arizona • Expected lowest cost lithium producer Fully funded to Final Investment Decision 1. See Company announcement titled "ioneer delivers DFS that confirms Rhyolite Ridge as a world-class lithium-boron Project dated 30 April 2020 2. See Company announcement titled "Rhyolite Ridge Ore Reserve Increased 280% to 60 million tonnes" dated 30 April 2020. Mineral Resource estimates include Ore Reserves. ASX: INR www.ioneer.com 13

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