Investor Presentation: RIU Sydney Resources Round-up

Investor Presentation RIU Sydney Resource Round-up

May 2023

Providing Material in the U.S. for a Sustainable Planet

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.

iioneer IInvesttorr Prresenttation

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 report titled "Rhyolite Ridge Ore Reserve Increased 280% to 60 million tonnes" dated 30 April 2020 and 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	.	.	2
ASX : INR wwwioneer. com.

Why Ioneer

Strategic

position to supply U.S. lithium needs

26-year

mine life

with large expansion potential

iioneer IInvesttorr Prresenttation

World's 2nd largest car market

Inflation

Reduction

Act 2022

favours

domestic U.S. supply

Domestic

U.S. source

of lithium

Advanced

Project

nearing FID

One of two near term projects to

address the need for locally sourced

U.S. lithium

Positioned to become a cornerstone lithium supplier to the domestic U.S.

EV battery supply chain

Ford	Toyota /	EcoPro
	Panasonic

: IONR	.	.
ASX : INR wwwioneer. com.

1. Why Ioneer
2. Corporate	Overview
Lithium &	Boron
3.
4. Rhyolite	Ridge Project
Expansion	Projects
5.
6. Conclusion

3

Corporate Snapshot

Capital Structure				ASX Share Price
(As at May 2023)
SHARES OUTSTANDING			2.10B
PERFORMANCE RIGHTS AND OPTIONS OUTSTANDING		36.5M
CASH BALANCE - 1 Apr 2023			US$60.3M
SHARE PRICE ASX - 8 May 2023		A$0.365
ADR PRICE NASDAQ (1 ADR = 40 ASX shares)		US$9.07
MARKET CAPITALISATION		A$766m (US$509m)
Shareholders (February 2023)
Insider Ownership	Top 50 Ownership	Substantial Holders	Institutional holders
Centaurus	Sibanye-Stillwater	22.7%
5.6%	~62.0%
12.1%	7.0%
		(Excl. Centaurus & SSW)

Source: Source: Company Data, FactSet, Nasdaq, Ipreo and CapIQ

iioneer IInvesttorr Prresenttation

Research Coverage

: IONR	.	.
ASX : INR wwwioneer. com.

1. Why Ioneer
2. Corporate	Overview
Lithium &	Boron
3.
4. Rhyolite	Ridge Project
Expansion	Projects
5.
6. Conclusion

4

Proven, Experienced Team

Board of Directors

JAMES D. CALAWAY

Executive Chairman

FORMER:

Non-exec chairman of

Orocobre Ltd

USA

BERNARD ROWE

Managing Director

IONEER:

Managing Director, CEO,

Founder

AUS

MARGARET WALKER

Non-executive Director

FORMER:

VP Engineering and

Technology Centers, Dow

Chemical

USA

ALAN DAVIES

Non-executive Director

FORMER:

Chief Executive, Energy &

Minerals of Rio Tinto

AUS

ROSE McKINNEY-JAMES

Non-executive Director

FORMER:

President and CEO of

Corporation for Solar Tech & Renewable Resources

USA

STEPHEN GARDINER

Non-executive Director

FORMER:

CFO Oil Search

AUS

Management Team

JAMES D.

CALAWAY

Executive Chairman

USA

IAN BUCKNELL

CFO & Company

Secretary

AUS

KEN COON

VP Human

Resources

USA

CHAD YEFTICH

VP Corporate

Development &

External Affairs

USA

BERNARD ROWE

Managing Director

AUS

MATT WEAVER

Snr VP Engineering

& Operations

USA

YOSHIO NAGAI

VP Commercial Sales

& Marketing

JPKR

1. Why Ioneer
2. Corporate	Overview
Lithium &	Boron
3.
4. Rhyolite	Ridge Project
Expansion	Projects
5.
6. Conclusion

iioneer IInvesttorr Prresenttation

: IONR	.	.	5
ASX : INR wwwioneer. com.