Ann: Preliminary Approval for up to US$657m in Funding from EXIM, page-5

PRELIMINARY APPROVAL FOR UP TO US$657m IN FUNDING FROM US EXIM BANK
Highlights
• US EXIM has issued Ironbark with a Preliminary Project Letter (PPL) offering up to US$657m in
debt funding to cornerstone the development of the Citronen Project
• Key commercial details of the indicative Term Sheet include (all dollar figures USD):
o Loan Amount – up to $657m comprising $485m in US Costs plus $171m in Local Costs;
final amount subject to Ironbark meeting minimum equity commitments
o Tenor – 8.5 years; potential to be extended subject to further 402(A) flexibilities
o Rate – 100 basis points above five-year US treasury rate (implied rate ~2.2% p.a.)
• Commercial terms may be further improved following Ironbark’s recent landmark 402(A)
designation, the first of its kind globally, received under US EXIM’s China & Transformational
Exports Program
• The proposed level of US EXIM support is sufficient to provide all required project senior debt
Ironbark Zinc Limited (ASX: IBG) (Ironbark or the Company) advises that its Phase I due diligence (DD) period with
US EXIM Bank has now successfully concluded and that Ironbark has received a Preliminary Project Letter (PPL)
outlining EXIM’sintention, subject to further due diligence and EXIM Board approval, to extend up to US$657m in
debt funding to Ironbark to cornerstone the development of the Citronen Project

Hallelujah