RDN Director Performance Rights, page-2

Tranche1 of the new proposed performance rights seems like getting paid twicefor the same thing. The directors received performance rights already for avery similar milestone in the March 2024 quarter.

I’mall in favour of rewarding KPIs being met, but Tranche1 seems like being paid abonus for just turning up.

Perhapsthose with more corporate experience than me could provide their thoughts onwether this is reasonable prior to AGM and this afternoons proxy deadline

“Yourproxy voting instruction must be received by 03.45pm (AWST) on Monday, 25November 2024, being not later than 48 hours before the commencement of theMeeting. Any Proxy Voting instructions received after that time will not bevalid for the scheduled Meeting.”

ASXRELEASE | 15 April 2024

RAIDENQUARTERLY ACTIVITIES REPORT

FORPERIOD ENDED 31 MARCH 2024

Asat the 31 March 2024, the Company held 73,000,00 Performance Rights (issued in2021) on issue with various vesting conditions to Directors (including formerDirector Martin Pawlitschek) and 5,000,0000 Performance Rights (issued in 2023)on issue to other KMP with various vesting conditions.

Duringthe quarter the Board resolved that 54,750,000 Performance Rights had vested onsatisfaction of the relevant milestone being met.

PerformanceRights Tranche 3

25,550,000

TheCompany achieving:

a) aVWAP of at least $0.075 over a period of 20 consecutive tradingdays (on which the entity’s shares have actually traded) on or before ExpiryDate; or

a market capitalisation of A$100 millionover a period of 20 consecutive trading days (on which the entity’s shares haveactually traded) on or before the Expiry Date