ASX Appendix 3H - Notification of cessation of securities

Appendix 3H - Notification of cessation of securities
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Announcement Summary
Entity name
VULCAN STEEL LIMITED
Announcement Type
New announcement
Date of this announcement
Thursday September 25, 2025
Details of +securities that have ceased
ASX +security
codeSecurity description
Number of
+securities that
have ceased
The +securities have
ceased due to
Date of
cessation
VSLAAPERFORMANCE SHARE
RIGHTS
231,362Lapse of conditional right to
securities because the
conditions have not been, or
have become incapable of
being, satisfied
25/09/2025
Refer to next page for full details of the announcement

Appendix 3H - Notification of cessation of securities
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Part 1 - Announcement Details
1.1 Name of +Entity
VULCAN STEEL LIMITED
We (the entity named above) provide the following information about our issued capital.
1.2 Registered Number Type
ARBN
Registration Number
652996015
1.3 ASX issuer code
VSL
1.4 The announcement is
1.5 Date of this announcement
25/9/2025
New announcement

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Part 2 - Details of +equity securities or +debt securities that have ceased
ASX +Security Code and Description
VSLAA : PERFORMANCE SHARE RIGHTS
Unquoted +equity securities that have ceased
Number of securities that have ceased
231,362
Reason for cessation
Lapse of conditional right to securities because the conditions have not been, or have become incapable of being,
satisfied
Date of cessation
25/9/2025
Is the entity paying any consideration for the cessation?
Any other information the entity wishes to notify to ASX about the cessation?
As set out on pages 86 to 87 of VSL's annual report for year ended 30 June 2025, 231,362 performance share rights
issued on 4 November 2022 (referred to as FY23 PSRs) did not vest on 1 July 2025 and as such have lapsed.
No

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Part 3 - Issued capital following changes
Following the cessation of the +securities the subject of this notification, the issued capital of the entity will
comprise:
The figures in parts 3.1 and 3.2 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.
3.1 Quoted +equity securities and +debt securities (total number of each +class of +securities quoted on ASX)
ASX +security code and description
Total number of
+securities on issue
VSL : ORDINARY FULLY PAID146,428,905
3.2 Unquoted +equity securities (total number of each +class of +equity securities issued but not quoted on ASX)
ASX +security code and description
Total number of
+securities on issue
VSLAA : PERFORMANCE SHARE RIGHTS1,512,966
Note: the figures stated in the tables above are used to calculate the total market capitalisation of the entity published by
ASX from time to time. The table will not include those classes of +securities that have ceased or lapsed in their entirety in
ASX records before the announcement date described in Q1.5, even if the entity has advised ASX of a change to that class
of +security in Part 2 of this form.