ASX Appendix 3Y - Change of Director's Interest Notice - AC

Appendix 3Y
Change of Director’s Interest Notice



+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Rule 3.19A.2
Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and
documents given to ASX become ASX’s property and may be made public.
Introduced 30/09/01 Amended 01/01/11

Name of entity: Vulcan Steel Limited
ARBN: 652 996 015 (incorporated in New Zealand)

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for
the director for the purposes of section 205G of the Corporations Act.

Name of Director
Adrian John Casey
Date of last notice
25 September 2025
Date of this notice
11 November 2025

Part 1 - Change of director’s relevant interests in securities
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be
disclosed in this part.

Direct or indirect interest
Direct and indirect
Nature of indirect interest
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant
interest.

Securities held by Adrian John Casey,
Henderika Fiona Casey and B.W.S Trustee
Company 2012 Limited as trustees of
the Casey Family Trust. Adrian Casey is a
beneficiary of that trust.

Date of change
10 November 2025

Appendix 3Y
Change of Director’s Interest Notice



+ See chapter 19 for defined terms.

Appendix 3Y Page 2 01/01/2011

No. of securities held prior to change
17,214 ordinary shares held by Adrian John
Casey

5,870,711 ordinary shares held by Adrian
John Casey, Henderika Fiona Casey and
B.W.S Trustee Company 2012 Limited as
trustees of the Casey Family Trust. Adrian
Casey is a beneficiary of that trust.

91,217 performance share rights granted to
Adrian Casey (with vesting date of 1 July
2026, subject to the satisfaction of certain
conditions) under Vulcan’s FY24 long-term
incentive plan.

105,263 performance share rights granted to
Adrian Casey (with vesting date of 1 July
2027, subject to the satisfaction of certain
conditions) under Vulcan’s FY25 long-term
incentive plan.

Class
Performance share rights, being rights to
acquire ordinary shares
Number acquired
126,624 performance share rights
Number disposed
N/A

Value/Consideration
Note: If consideration is non-cash, provide details and estimated
valuation

Nil

The rights are issued for nil consideration.
The value of the rights granted is
NZ$780,000 (based on the 20-trading day
volume weighted average price of Vulcan
Steel Limited’s shares up to and including
30 June 2025, being NZ$6.16).

Appendix 3Y
Change of Director’s Interest Notice



+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3

No. of securities held after change
17,214 ordinary shares held by Adrian John
Casey

5,870,711 ordinary shares held by Adrian
John Casey, Henderika Fiona Casey and
B.W.S Trustee Company 2012 Limited as
trustees of the Casey Family Trust. Adrian
Casey is a beneficiary of that trust.

91,217 performance share rights granted to
Adrian Casey (with vesting date of 1 July
2026, subject to the satisfaction of certain
conditions) under Vulcan’s FY24 long-term
incentive plan.

105,263 performance share rights granted to
Adrian Casey (with vesting date of 1 July
2027, subject to the satisfaction of certain
conditions) under Vulcan’s FY25 long-term
incentive plan.

126,624 performance share rights granted to
Adrian Casey (with vesting date of 1 July
2028, subject to the satisfaction of certain
conditions) under Vulcan’s FY26 long-term
incentive plan.

Nature of change
Example: on-market trade, off-market trade, exercise of options, issue
of securities under dividend reinvestment plan, participation in buy-
back
Issue of performance share rights by Vulcan
Steel Limited under Vulcan’s FY26 long-term
incentive plan

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be
disclosed in this part.

Detail of contract
N/A
Nature of interest


N/A
Name of registered holder
(if issued securities)

N/A
Date of change
N/A
No. and class of securities to which
interest related prior to change
Note: Details are only required for a contract in
relation to which the interest has changed

N/A
Interest acquired
N/A

Appendix 3Y
Change of Director’s Interest Notice



+ See chapter 19 for defined terms.

Appendix 3Y Page 4 01/01/2011

Interest disposed
N/A
Value/Consideration
Note: If consideration is non-cash, provide details
and an estimated valuation

N/A
Interest after change
N/A

Part 3 –
+
Closed period

Were the interests in the securities or contracts
detailed above traded during a
+
closed period
where prior written clearance was required?



No. The grant of performance share
rights was approved by shareholders at
the Annual Meeting of shareholders on
31 October 2025 and granted to
Adrian Casey on 10 November 2025.

If so, was prior written clearance provided to
allow the trade to proceed during this period?
N/A
If prior written clearance was provided, on what
date was this provided?
N/A