Gentrack Group Limited logo

Form 605 & 603 - Wilson Asset Management Group

Insider/Shareholder Notice17 December 2025GTKInformation Technology

605 Page 1 of 2 15 July 2001
Gentrack Group Limited (ASX: GTK)

ARBN: 169 195 751

Wilson Asset Management Group (refer entities listed in Annexure A)

Refer to

Annexure B

print nameKim Hengcapacity

sign heredate

Signature

Chief Operating Officer

17/12/2025

4. Addresses

The addresses of persons named in this form are as follows:

NameAddress

Refer Annexure A

Name and ACN/ARSN (if applicable)Nature of association

n/a

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or

scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Form 605

Corporations Act 2001

Section 671B

To Company Name/Scheme

ACN/ARSN

1. Details of substantial holder (1)

Notice of ceasing to be a substantial holder

The holder ceased to be a substantial holder on

3/09/2025

3/09/2025

Name

ACN/ARSN (if applicable)

12/12/2025

The previous notice was dated

The previous notice was given to the company on

Date of change

Person whose relevant

interest changed

Nature of change (4)

Consideration given in relation

to change (5)

Class (6) and number of

securities affected

Person's votes affected

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to

voting interests in the company or scheme are as follows:

605 Page 1 of 2 15 July 2001
(1)

(2)

(3)

(4)Include details of:

(a)

(b)

(5)

(6)

(7)

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

The voting shares of a company constitute one class unless divided into separate classes.

Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or

may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a

contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they

are not paid directly to the person from whom the relevant interest was acquired.

See the definition of "associate" in section 9 of the Corporations Act 2001.

any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a

copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of

any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or

arrangement; and

any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of

the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and

trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar,

they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members

is clearly set out in paragraph 4 of the form.

DIRECTIONS

Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

Page 1
Annexure A

1. Details of Wilson Asset Management Group

Wilson Asset Management Group

NameACN / ARSN

Wilson Asset Management (International) Pty Limited

(ACN 081 047 118)

MAM Pty Limited

(ACN 100 276 542)

WAM Capital Limited

(ACN 086 587 395)

WAM Research Limited

(ACN 100 504 541)

WAM Active Limited

(ACN 126 420 719)

Botanical Nominees Pty Limited ATF Wilson Asset Management Equity Fund

(ACN 081 032 000)

WAM Leaders Limited

(ACN 611 053 751)

WAM Microcap Limited

(ACN 617 838 418)

WAM Global Limited

(ACN 624 572 925)

WAM Strategic Value Limited

(ACN 649 096 220)

WAM Alternative Assets Limited

(ACN 168 941 704)

Wilson Asset Management Leaders Fund

(ARSN 663 806 228)

Wilson Asset Management Founders Fund

(ARSN 682 673 678)

WAM Income Maximiser Limited

(ACN 683 776 954)

4. Addresses

Name

Address

Wilson Asset Management (International) Pty Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

MAM Pty Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

WAM Capital Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

WAM Research Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

WAM Active Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

Botanical Nominees Pty Limited ATF Wilson Asset Management Equity Fund

Level 26,1 Farrer Place, Sydney, NSW 2000

WAM Leaders Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

WAM Microcap Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

WAM Alternative Assets Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

WAM Strategic Value Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

WAM Global Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

Wilson Asset Management Leaders Fund

Level 26,1 Farrer Place, Sydney, NSW 2000

Wilson Asset Management Founders Fund

Level 26, 1 Farrer Place, Sydney, NSW 2000

WAM Income Maximiser Limited

Level 26, 1 Farrer Place, Sydney, NSW 2000

Citigroup Pty Limited

Level 21, 2 Park Street, Sydney NSW 2000

This is Annexure A of 1 pages referred to in Form 605 - Notice of ceasing to be a substantial holder

Signed: _______________________

Date: 17/12/2025

Page 1
ANNEXURE B

Refer to Annexure A for the name and ACN's of the Wilson Asset Management Group members.

2. Changes in relevant interests

Date of change

Person whose relevant interest

changed

Nature of change (4)

Consideration given in

relation to change (5)

Class of securities

(6)

Number of

securities

Person's votes

affected

4/09/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 7,123.12 Ordinary shares794 794

4/09/2025WAM Capital LimitedOn market purchase- 242,526.83 Ordinary shares27,034 27,034

4/09/2025WAM Research LimitedOn market purchase- 64,341.29 Ordinary shares7,172 7,172

9/09/2025WAM Microcap LimitedOn market purchase- 91,314.19 Ordinary shares9,920 9,920

10/09/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 14,235.73 Ordinary shares1,556 1,556

10/09/2025WAM Capital LimitedOn market purchase- 490,428.35 Ordinary shares53,605 53,605

10/09/2025WAM Research LimitedOn market purchase- 155,056.06 Ordinary shares16,948 16,948

11/09/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 27,372.92 Ordinary shares3,028 3,028

11/09/2025WAM Active LimitedOn market purchase- 157,918.59 Ordinary shares17,469 17,469

11/09/2025WAM Capital LimitedOn market purchase- 961,089.59 Ordinary shares106,316 106,316

11/09/2025WAM Microcap LimitedOn market purchase- 481,186.64 Ordinary shares53,229 53,229

11/09/2025WAM Research LimitedOn market purchase- 191,818.36 Ordinary shares21,219 21,219

19/09/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 28,838.05 Ordinary shares3,092 3,092

19/09/2025WAM Capital LimitedOn market purchase- 874,915.66 Ordinary shares93,808 93,808

19/09/2025WAM Research LimitedOn market purchase- 245,515.10 Ordinary shares26,324 26,324

22/09/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 10,868.72 Ordinary shares1,158 1,158

22/09/2025WAM Capital LimitedOn market purchase- 362,196.52 Ordinary shares38,590 38,590

22/09/2025WAM Research LimitedOn market purchase- 96,222.83 Ordinary shares10,252 10,252

23/09/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 30,535.01 Ordinary shares3,316 3,316

23/09/2025WAM Capital LimitedOn market purchase- 1,069,766.54 Ordinary shares116,173 116,173

Page 2
Date of change

Person whose relevant interest

changed

Nature of change (4)

Consideration given in

relation to change (5)

Class of securities

(6)

Number of

securities

Person's votes

affected

23/09/2025WAM Microcap LimitedOn market purchase- 418,558.26 Ordinary shares45,454 45,454

23/09/2025WAM Research LimitedOn market purchase- 272,144.83 Ordinary shares29,554 29,554

24/09/2025WAM Active LimitedOn market purchase- 26,829.65 Ordinary shares2,922 2,922

29/09/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 12,388.82 Ordinary shares1,399 1,399

29/09/2025WAM Capital LimitedOn market purchase- 430,376.69 Ordinary shares48,600 48,600

29/09/2025WAM Research LimitedOn market purchase- 8.85 Ordinary shares1 1

30/09/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 1,388.57 Ordinary shares158 158

30/09/2025WAM Capital LimitedOn market purchase- 80,971.59 Ordinary shares9,213 9,213

30/09/2025WAM Research LimitedOn market purchase- 8.81 Ordinary shares1 1

1/10/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 5,943.83 Ordinary shares683 683

1/10/2025WAM Active LimitedOn market sell448,479.88 Ordinary shares- 51,553 51,553

1/10/2025WAM Capital LimitedOn market purchase- 204,927.30 Ordinary shares23,548 23,548

1/10/2025WAM Research LimitedOn market purchase- 50,204.92 Ordinary shares5,769 5,769

3/10/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 11,468.88 Ordinary shares1,351 1,351

3/10/2025WAM Capital LimitedOn market purchase- 353,311.35 Ordinary shares41,619 41,619

3/10/2025WAM Research LimitedOn market purchase- 59,678.96 Ordinary shares7,030 7,030

13/10/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 5,484.79 Ordinary shares684 684

13/10/2025WAM Capital LimitedOn market purchase- 188,928.83 Ordinary shares23,561 23,561

13/10/2025WAM Research LimitedOn market purchase- 46,147.68 Ordinary shares5,755 5,755

14/10/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 9,146.01 Ordinary shares1,140 1,140

14/10/2025WAM Capital LimitedOn market purchase- 315,039.94 Ordinary shares39,268 39,268

14/10/2025WAM Research LimitedOn market purchase- 76,954.85 Ordinary shares9,592 9,592

21/10/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market sell35,894.28 Ordinary shares- 4,384 4,384

21/10/2025WAM Capital LimitedOn market sell2,910,228.44 Ordinary shares- 355,445 355,445

Page 3
Date of change

Person whose relevant interest

changed

Nature of change (4)

Consideration given in

relation to change (5)

Class of securities

(6)

Number of

securities

Person's votes

affected

21/10/2025WAM Research LimitedOn market sell738,280.78 Ordinary shares- 90,171 90,171

22/10/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market sell53,156.85 Ordinary shares- 6,604 6,604

22/10/2025WAM Capital LimitedOn market sell1,805,547.58 Ordinary shares- 224,314 224,314

22/10/2025WAM Research LimitedOn market sell395,070.71 Ordinary shares- 49,082 49,082

24/10/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market sell57,683.13 Ordinary shares- 7,323 7,323

24/10/2025WAM Capital LimitedOn market sell1,886,797.01 Ordinary shares- 239,533 239,533

24/10/2025WAM Microcap LimitedOn market sell523,708.99 Ordinary shares- 66,486 66,486

24/10/2025WAM Research LimitedOn market sell462,047.98 Ordinary shares- 58,658 58,658

28/10/2025WAM Microcap LimitedOn market sell977,584.32 Ordinary shares- 120,000 120,000

5/11/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 9,292.98 Ordinary shares1,198 1,198

5/11/2025WAM Capital LimitedOn market purchase- 304,620.46 Ordinary shares39,270 39,270

5/11/2025WAM Research LimitedOn market purchase- 73,940.47 Ordinary shares9,532 9,532

10/11/2025WAM Microcap LimitedOn market purchase- 45,170.54 Ordinary shares5,944 5,944

14/11/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 14,096.55 Ordinary shares1,965 1,965

14/11/2025WAM Capital LimitedOn market purchase- 399,144.02 Ordinary shares55,639 55,639

14/11/2025WAM Research LimitedOn market purchase- 142,593.97 Ordinary shares19,877 19,877

17/11/2025WAM Microcap LimitedOn market purchase- 401,276.27 Ordinary shares59,714 59,714

19/11/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 7,852.24 Ordinary shares1,199 1,199

19/11/2025WAM Capital LimitedOn market purchase- 256,799.23 Ordinary shares39,212 39,212

19/11/2025WAM Research LimitedOn market purchase- 62,798.32 Ordinary shares9,589 9,589

21/11/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 18,828.29 Ordinary shares2,820 2,820

21/11/2025WAM Capital LimitedOn market purchase- 467,682.70 Ordinary shares70,047 70,047

21/11/2025WAM Research LimitedOn market purchase- 110,652.93 Ordinary shares16,573 16,573

24/11/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 5,162.43 Ordinary shares654 654

Page 4
Date of change

Person whose relevant interest

changed

Nature of change (4)

Consideration given in

relation to change (5)

Class of securities

(6)

Number of

securities

Person's votes

affected

24/11/2025WAM Capital LimitedOn market purchase- 161,882.41 Ordinary shares20,508 20,508

24/11/2025WAM Research LimitedOn market purchase- 39,412.86 Ordinary shares4,993 4,993

25/11/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market sell30,649.70 Ordinary shares- 3,669 3,669

25/11/2025WAM Capital LimitedOn market sell1,049,274.04 Ordinary shares- 125,606 125,606

25/11/2025WAM Microcap LimitedOn market sell2,018,369.33 Ordinary shares- 241,614 241,614

25/11/2025WAM Research LimitedOn market sell243,184.37 Ordinary shares- 29,111 29,111

1/12/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 17,755.89 Ordinary shares1,905 1,905

1/12/2025WAM Capital LimitedOn market purchase- 437,297.36 Ordinary shares46,917 46,917

1/12/2025WAM Microcap LimitedOn market purchase- 169,887.66 Ordinary shares18,227 18,227

1/12/2025WAM Research LimitedOn market purchase- 120,711.87 Ordinary shares12,951 12,951

2/12/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 4,353.59 Ordinary shares484 484

2/12/2025WAM Capital LimitedOn market purchase- 140,610.11 Ordinary shares15,632 15,632

2/12/2025WAM Research LimitedOn market purchase- 34,936.65 Ordinary shares3,884 3,884

3/12/2025

Botanical Nominees Pty Limited ATF

Wilson Asset Management Equity Fund

On market purchase- 13,956.05 Ordinary shares1,548 1,548

3/12/2025WAM Capital LimitedOn market purchase- 442,617.86 Ordinary shares49,095 49,095

3/12/2025WAM Research LimitedOn market purchase- 135,755.97 Ordinary shares15,058 15,058

This is Annexure B of 4 pages referred to in Form 605 - Notice of ceasing to be a substantial holder

Signed: _______________________

Date: 17/12/2025

---

603 Page 1 of 2 15 July 2001
Gentrack Group Limited (ASX: GTK)

ARBN: 169 195 751

Wilson Asset Management Group (refer entities listed in Annexure A)

CashNon-cash

Annexure C

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial

holder became a substantial holder is as follows:

Holder of relevant

interest

Date of acquisitionConsideration (9)

Class and number

of securities

5. Consideration

Annexure B

Holder of relevant

interest

Registered holder of

securities

Person entitled to be

registered as holder (8)

Class and number

of securities

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a

substantial holder are as follows:

Holder of relevant interestNature of relevant interest (7)Class and number of securities

Annexure B

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

4. Details of present registered holders

Ordinary Shares5,674,2505,674,2505.05%

Class of securities (4)Number of securitiesPerson's votes (5)Voting power (6)

Form 603

Corporations Act 2001

Section 671B

To Company Name/Scheme

ACN/ARSN

1. Details of substantial holder (1)

Name

Notice of initial substantial holder

ACN/ARSN (if applicable)

The holder became a substantial holder on16/12/25

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2)

had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

603 Page 2 of 2 15 July 2001
print nameKim Hengcapacity

sign heredate

(1)

(2)

(3)

(4)

(5)

(6)

(7)Include details of:

(a)

(b)

(8)

(9)

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

If the substantial holder is unable to determine the identity of the person ( eg. if the relevant interest arises because of an option) write

"unknown".

Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was

acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional

on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in

relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

The voting shares of a company constitute one class unless divided into separate classes.

The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an

associate has a relevant interest in.

The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a

copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and

accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement

certifying this contract, scheme or arrangement; and

any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers

or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the

qualification applies).

See the definition of "associate" in section 9 of the Corporations Act 2001.

NameAddress

Annexure A

Signature

Chief Operating Officer

17/12/25

If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the

manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of

persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group,

with the names and addresses of members is clearly set out in paragraph 7 of the form.

DIRECTIONS

The addresses of persons named in this form are as follows:

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)Nature of association

n/a

7. Addresses

Page 1
Annexure A

1. Details of Substantial Holder

Wilson Asset Management Group

NameACN / ARSN

Wilson Asset Management (International) Pty Limited

(ACN 081 047 118)

MAM Pty Limited

(ACN 100 276 542)

WAM Capital Limited

(ACN 086 587 395)

WAM Research Limited

(ACN 100 504 541)

WAM Active Limited

(ACN 126 420 719)

Botanical Nominees Pty Limited ATF Wilson Asset Management Equity Fund

(ACN 081 032 000)

WAM Leaders Limited

(ACN 611 053 751)

WAM Microcap Limited

(ACN 617 838 418)

WAM Global Limited

(ACN 624 572 925)

WAM Strategic Value Limited

(ACN 649 096 220)

WAM Alternative Assets Limited

(ACN 168 941 704)

Wilson Asset Management Leaders Fund

(ARSN 663 806 228)

Wilson Asset Management Founders Fund

(ARSN 682 673 678)

WAM Income Maximiser Limited

(ACN 683 776 954)

7. Addresses

Name

Address

Wilson Asset Management (International) Pty Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

MAM Pty Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

WAM Capital Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

WAM Research Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

WAM Active Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

Botanical Nominees Pty Limited ATF Wilson Asset Management Equity Fund

Level 26,1 Farrer Place, Sydney, NSW 2000

WAM Leaders Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

WAM Microcap Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

WAM Alternative Assets Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

WAM Strategic Value Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

WAM Global Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

Wilson Asset Management Leaders Fund

Level 26,1 Farrer Place, Sydney, NSW 2000

Wilson Asset Management Founders Fund

Level 26,1 Farrer Place, Sydney, NSW 2000

WAM Income Maximiser Limited

Level 26,1 Farrer Place, Sydney, NSW 2000

Citigroup Pty Limited

Level 21, 2 Park Street, Sydney NSW 2000

This is Annexure A of 1 pages referred to in Form 603 - Notice of initial substantial holder.

Signed: _______________________

Date: 17/12/25

Page 1
Annexure B

Refer to Annexure A for the name and ACN's of the Wilson Asset Management Group members.

3. Details of relevant interests & 4. Details of present registered holders

Holder of relevant interestRegistered holder of

securities

Nature of relevant interest (7)Person entitled to be registered

as a holder (8)

Number of

securities

Class of

securities

Botanical Nominees Pty

Limited ATF Wilson Asset

Management Equity Fund

Citigroup Pty LimitedManagement of the portfolio of

Botanical Nominees Pty Limited

ATF Wilson Asset Management

Equity Fund

Botanical Nominees Pty Limited

ATF Wilson Asset Management

Equity Fund

114,220 Ordinary

shares

WAM Capital LimitedCitigroup Pty LimitedManagement of the portfolio of

WAM Capital Limited

WAM Capital Limited 3,666,235 Ordinary

shares

WAM Microcap LimitedCitigroup Pty LimitedManagement of the portfolio of

WAM Microcap Limited

WAM Microcap Limited980,871 Ordinary

shares

WAM Research LimitedCitigroup Pty LimitedManagement of the portfolio of

WAM Research Limited

WAM Research Limited912,924 Ordinary

shares

This is Annexure B of 1 pages referred to in Form 603 - Notice of initial substantial holder.

Signed: _______________________

Date: 17/12/25

Page 1
Annexure C

Refer to Annexure A for the name and ACN's of the Wilson Asset Management Group members.

5. Consideration

Holder of relevant interestDate of aquisition Cash consideration ($)

Amount of

securities Class of securities

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 15/08/2025- 4,879.33 541 Ordinary shares

WAM Active Limited15/08/2025- 308,659.35 34,223 Ordinary shares

WAM Capital Limited15/08/2025- 209,684.16 23,249 Ordinary shares

WAM Research Limited15/08/2025- 69,609.10 7,718 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 19/08/2025- 11,196.64 1,214 Ordinary shares

WAM Active Limited19/08/2025- 82,591.46 8,955 Ordinary shares

WAM Capital Limited19/08/2025- 397,702.58 43,121 Ordinary shares

WAM Research Limited19/08/2025- 105,492.03 11,438 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 20/08/2025- 2,717.31 295 Ordinary shares

WAM Capital Limited20/08/2025- 201,910.35 21,920 Ordinary shares

WAM Research Limited20/08/2025- 48,359.00 5,250 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 22/08/2025- 2,513.75 272 Ordinary shares

WAM Active Limited22/08/2025- 277,215.29 29,996 Ordinary shares

WAM Capital Limited22/08/2025- 106,076.72 11,478 Ordinary shares

WAM Microcap Limited22/08/2025- 281,143.03 30,421 Ordinary shares

WAM Research Limited22/08/2025- 22,355.77 2,419 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 25/08/2025- 39,610.91 4,154 Ordinary shares

WAM Active Limited25/08/2025- 363,306.61 38,100 Ordinary shares

WAM Capital Limited25/08/2025- 1,423,084.39 149,239 Ordinary shares

WAM Microcap Limited25/08/2025- 718,126.53 75,310 Ordinary shares

WAM Research Limited25/08/2025- 336,645.06 35,304 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 28/08/2025- 17,577.75 1,877 Ordinary shares

WAM Active Limited28/08/2025- 192,737.37 20,581 Ordinary shares

WAM Capital Limited28/08/2025- 605,192.21 64,624 Ordinary shares

WAM Research Limited28/08/2025- 135,059.41 14,422 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 29/08/2025- 55,133.62 5,900 Ordinary shares

WAM Active Limited29/08/2025- 604,506.49 64,690 Ordinary shares

WAM Capital Limited29/08/2025- 1,898,228.89 203,135 Ordinary shares

Page 2
Holder of relevant interestDate of aquisition Cash consideration ($)

Amount of

securities Class of securities

WAM Research Limited29/08/2025- 423,603.03 45,331 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 1/09/2025- 46,100.11 5,058 Ordinary shares

WAM Capital Limited1/09/2025- 1,596,870.06 175,205 Ordinary shares

WAM Research Limited1/09/2025- 455,897.05 50,020 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 2/09/2025- 24,785.45 2,731 Ordinary shares

WAM Capital Limited2/09/2025- 799,560.69 88,100 Ordinary shares

WAM Research Limited2/09/2025- 83,214.26 9,169 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 4/09/2025- 7,123.12 794 Ordinary shares

WAM Capital Limited4/09/2025- 242,526.83 27,034 Ordinary shares

WAM Research Limited4/09/2025- 64,341.29 7,172 Ordinary shares

WAM Microcap Limited9/09/2025- 91,314.19 9,920 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 10/09/2025- 14,235.73 1,556 Ordinary shares

WAM Capital Limited10/09/2025- 490,428.35 53,605 Ordinary shares

WAM Research Limited10/09/2025- 155,056.06 16,948 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 11/09/2025- 27,372.92 3,028 Ordinary shares

WAM Active Limited11/09/2025- 157,918.59 17,469 Ordinary shares

WAM Capital Limited11/09/2025- 961,089.59 106,316 Ordinary shares

WAM Microcap Limited11/09/2025- 481,186.64 53,229 Ordinary shares

WAM Research Limited11/09/2025- 191,818.36 21,219 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 19/09/2025- 28,838.05 3,092 Ordinary shares

WAM Capital Limited19/09/2025- 874,915.66 93,808 Ordinary shares

WAM Research Limited19/09/2025- 245,515.10 26,324 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 22/09/2025- 10,868.72 1,158 Ordinary shares

WAM Capital Limited22/09/2025- 362,196.52 38,590 Ordinary shares

WAM Research Limited22/09/2025- 96,222.83 10,252 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 23/09/2025- 30,535.01 3,316 Ordinary shares

WAM Capital Limited23/09/2025- 1,069,766.54 116,173 Ordinary shares

WAM Microcap Limited23/09/2025- 418,558.26 45,454 Ordinary shares

WAM Research Limited23/09/2025- 272,144.83 29,554 Ordinary shares

WAM Active Limited24/09/2025- 26,829.65 2,922 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 29/09/2025- 12,388.82 1,399 Ordinary shares

Page 3
Holder of relevant interestDate of aquisition Cash consideration ($)

Amount of

securities Class of securities

WAM Capital Limited29/09/2025- 430,376.69 48,600 Ordinary shares

WAM Research Limited29/09/2025- 8.85 1 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 30/09/2025- 1,388.57 158 Ordinary shares

WAM Capital Limited30/09/2025- 80,971.59 9,213 Ordinary shares

WAM Research Limited30/09/2025- 8.81 1 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 1/10/2025- 5,943.83 683 Ordinary shares

WAM Capital Limited1/10/2025- 204,927.30 23,548 Ordinary shares

WAM Research Limited1/10/2025- 50,204.92 5,769 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 3/10/2025- 11,468.88 1,351 Ordinary shares

WAM Capital Limited3/10/2025- 353,311.35 41,619 Ordinary shares

WAM Research Limited3/10/2025- 59,678.96 7,030 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 13/10/2025- 5,484.79 684 Ordinary shares

WAM Capital Limited13/10/2025- 188,928.83 23,561 Ordinary shares

WAM Research Limited13/10/2025- 46,147.68 5,755 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 14/10/2025- 9,146.01 1,140 Ordinary shares

WAM Capital Limited14/10/2025- 315,039.94 39,268 Ordinary shares

WAM Research Limited14/10/2025- 76,954.85 9,592 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 5/11/2025- 9,292.98 1,198 Ordinary shares

WAM Capital Limited5/11/2025- 304,620.46 39,270 Ordinary shares

WAM Research Limited5/11/2025- 73,940.47 9,532 Ordinary shares

WAM Microcap Limited10/11/2025- 45,170.54 5,944 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 14/11/2025- 14,096.55 1,965 Ordinary shares

WAM Capital Limited14/11/2025- 399,144.02 55,639 Ordinary shares

WAM Research Limited14/11/2025- 142,593.97 19,877 Ordinary shares

WAM Microcap Limited17/11/2025- 401,276.27 59,714 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 19/11/2025- 7,852.24 1,199 Ordinary shares

WAM Capital Limited19/11/2025- 256,799.23 39,212 Ordinary shares

WAM Research Limited19/11/2025- 62,798.32 9,589 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 21/11/2025- 18,828.29 2,820 Ordinary shares

WAM Capital Limited21/11/2025- 467,682.70 70,047 Ordinary shares

WAM Research Limited21/11/2025- 110,652.93 16,573 Ordinary shares

Page 4
Holder of relevant interestDate of aquisition Cash consideration ($)

Amount of

securities Class of securities

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 24/11/2025- 5,162.43 654 Ordinary shares

WAM Capital Limited24/11/2025- 161,882.41 20,508 Ordinary shares

WAM Research Limited24/11/2025- 39,412.86 4,993 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 1/12/2025- 17,755.89 1,905 Ordinary shares

WAM Capital Limited1/12/2025- 437,297.36 46,917 Ordinary shares

WAM Microcap Limited1/12/2025- 169,887.66 18,227 Ordinary shares

WAM Research Limited1/12/2025- 120,711.87 12,951 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 2/12/2025- 4,353.59 484 Ordinary shares

WAM Capital Limited2/12/2025- 140,610.11 15,632 Ordinary shares

WAM Research Limited2/12/2025- 34,936.65 3,884 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 3/12/2025- 13,956.05 1,548 Ordinary shares

WAM Capital Limited3/12/2025- 442,617.86 49,095 Ordinary shares

WAM Research Limited3/12/2025- 135,755.97 15,058 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 15/12/2025- 3,734.00 485 Ordinary shares

WAM Capital Limited15/12/2025- 120,573.40 15,661 Ordinary shares

WAM Research Limited15/12/2025- 29,671.79 3,854 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 16/12/2025- 4,702.78 619 Ordinary shares

WAM Capital Limited16/12/2025- 109,736.50 14,444 Ordinary shares

WAM Research Limited16/12/2025- 46,792.24 6,159 Ordinary shares

Botanical Nominees Pty Limited ATF Wilson Asset

Management Equity Fund 17/12/2025- 11,199.54 1,491 Ordinary shares

WAM Capital Limited17/12/2025- 243,948.68 32,477 Ordinary shares

WAM Research Limited17/12/2025- 120,423.23 16,032 Ordinary shares

This is Annexure C of 4 pages referred to in Form 603 - Notice of initial substantial holder.

Signed: _______________________

Date: 17/12/25

Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.

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