Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 1 / 7 Announcement Summary Entity name ELEMENT 25 LIMITED Date of this announcement Wednesday October 22, 2025 The +securities the subject of this notification are: Total number of +securities to be issued/transferred ASX +security code Security description Total number of +securities to be issued/transferred Issue date New class - code to be confirmed Performance Rights 5,083,357 19/10/2025 Refer to next page for full details of the announcement +Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 2 / 7 Part 1 - Entity and announcement details 1.1 Name of entity ELEMENT 25 LIMITED We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities. 1.2 Registered number type ABN Registration number 46119711929 1.3 ASX issuer code E25 1.4 The announcement is 1.5 Date of this announcement 22/10/2025 New announcement Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 3 / 7 Part 2 - Issue details 2.1 The +securities the subject of this notification are: 2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which: does not have an existing ASX security code ("new class") +Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 4 / 7 Part 3C - number and type of +securities the subject of this notification (new class) New +securities issued under an +employee incentive scheme ASX +security code New class - code to be confirmed +Security description Performance Rights +Security type Other ISIN code Date the +securities the subject of this notification were issued 19/10/2025 Will all the +securities issued in this class rank equally in all respects from their issue date? Were any of the +securities issued to +key management personnel (KMP) or an +associate? Provide details of the KMP or +associates being issued +securities. Name of KMP Name of registered holder Number of +securities Justin Brown Aradia Ventures Pty Ltd 1,069,091 Salvatore Lancuba Salvatore Lancuba 37,037 Rudolph van Jaarsveld Rudolph van Jaarsveld 37,037 Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. Notice of Annual General Meeting https://element25.com.au/announcements/7216963 Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms Company Performance Rights Plan https://res.cloudinary.com/investorhub/raw/upload/v1749538184/leaf-prod/269/documents/Performance_Rights_Plan_y2j o2t.pdf Material Terms of Securities Issued https://res.cloudinary.com/investorhub/raw/upload/v1761032546/leaf-prod/269/documents/Attachment_to_3G_Summary_ of_Terms_of_Securities_Issued_20251021_pmvanu.pdf Any other information the entity wishes to provide about the +securities the subject of this notification The maximum number of performance rights to be exercised over the 3-year period is 5,085,266. The Performance Rights are subject to performance and vesting conditions over the 3-year period as set by the Board of Element 25 Limited. If the Performance Rights vest and are exercised, each participant will be issued one fully paid ordinary share in the Company for each Performance Right. Yes Yes Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 5 / 7 Issue details Number of +securities 5,083,357 Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 6 / 7 Part 4 - +Securities on issue Following the issue, conversion or payment up of the +securities the subject of this notification, the +securities of the entity will comprise: The figures in parts 4.1 and 4.2 below are automatically generated and may not reflect the entity's current issued capital if other Appendix 2A, Appendix 3G or Appendix 3H forms are currently with ASX for processing. 4.1 Quoted +securities (Total number of each +class of +securities issued and quoted on ASX) ASX +security code and description Total number of +securities on issue E25 : ORDINARY FULLY PAID 264,935,547 4.2 Unquoted +securities (Total number of each +class of +securities issued but not quoted on ASX) ASX +security code and description Total number of +securities on issue E25AO : OPTION EXPIRING 01-JUL-2027 EX $0.6547 500,000 E25AP : OPTION EXPIRING 23-SEP-2027 EX $1.2806 500,000 E25AI : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES 5,550,000 E25AA : OPTION EXPIRING 25-NOV-2027 EX $1.58 900,000 E25AM : OPTION EXPIRING 04-NOV-2025 EX $1.209 1,980,000 E25AL : OPTION EXPIRING 25-JUN-2025 EX 50C 500,000 E25AJ : OPTION EXPIRING 20-NOV-2024 EX 27.3C 2,000,000 E25AN : OPTION EXPIRING 13-JUL-2025 EX $0.44 1,000,000 E25AAA : PERFORMANCE RIGHTS 3,098,379 New class - code to be confirmed : Performance Rights 5,083,357 Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities 7 / 7 Part 5 - Other Listing Rule requirements 5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? 5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? 5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? 5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? A maximum of 3,942,101 performance rights will be issued over the 3-year period using the entities 15% placement capacity if vesting conditions are met. A maximum of 1,143,165 performance rights will be issued over the 3-year period to KMP or associates if vesting conditions are met. These performance rights are subject to shareholder approval at the AGM 26 November 2025. These performance rights will not be using the entities 15% placement capacity. 5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No Yes No No