SPH Notice - JIT Hillend Investment Limited

1
Disclosure of beginning to have substantial holding
Section 276, Financial Markets Conduct Act 2013
To NZX Limited
and
To Lodestone Energy Limited
Date this disclosure made: 22 October 2026
Date on which substantial holding began: 22 October 2026
Substantial product holder(s) giving disclosure
Full name(s): JIT Hillend Investment Limited
Summary of substantial holding
Class of quoted voting products: Ordinary shares in Lodestone Energy Limited (NZX Code: LOD)
Summary for JIT Hillend Investment Limited
For this disclosure,—
(a)total number held in class: 24,231,829
(b)total in class: 195,555,584
(c)total percentage held in class: 12.391%
Details of relevant interests
Details for JIT Hillend Investment Limited
Nature of relevant interest(s):
1.Registered holder and beneficial owner of 19,787,385 shares. This relevant interest is qualified by
the terms of an escrow deed between JIT Hillend Investment Limited dated 24 September 2026
(Escrow Deed) under which JIT Hillend Investment Limited agrees not to sell or otherwise dispose
of any of the shares held by it at the date of the Escrow Deed and which are registered in the
name of JIT Hillend Investment Limited as at the date of quotation of LOD’s shares on the NZX
Main Board and any shares issued to it or associated persons upon the exercise of options prior
to and until the commencement of trading on the NZX Main Board on the first business day after
the business day on which LOD’s results for the year ending 31 March 2027 are released to NZX.
A copy of the Escrow Deed is attached to the event disclosure given by LOD on 22 October 2026.
For the relevant interest,—
(a)number held in class: 19,787,385
(b)percentage held in class: 10.119%
(c)current registered holder(s): JIT Hillend Investment Limited
(d)registered holder(s) once transfers are registered: Not applicable

2
For a derivative relevant interest, also—
(a)type of derivative: Not applicable
(b)details of derivative: Not applicable
(c)parties to the derivative: Not applicable
(c)if the substantial product holder is not a party to the derivative, the nature of the relevant
interest in the derivative: Not applicable
2.Registered holder and beneficial owner of 4,444,444 shares. On 21 October 2026, 4,444,444
shares were allotted to JIT Hillend Investments Limited under the initial public offering of LOD at
$2.25, for a total consideration of $9,999,999. Such shares are not subject to the Escrow Deed.
For the relevant interest,—
(a)number held in class: 4,444,444
(b)percentage held in class: 2.273%
(c)current registered holder(s): JIT Hillend Investment Limited
(d)registered holder(s) once transfers are registered: Not applicable
For a derivative relevant interest, also—
(a)type of derivative: Not applicable
(b)details of derivative: Not applicable
(c)parties to the derivative: Not applicable
(c)if the substantial product holder is not a party to the derivative, the nature of the relevant
interest in the derivative: Not applicable
Details of transactions and events giving rise to substantial holding
Details of the transactions or other events requiring disclosure: The substantial holding began on 22
October 2026 on quotation of the ordinary shares of Lodestone Energy Limited on the NZX Main Board.
Additional information
Address(es) of substantial product holder(s): C/- Fusion Tax Limited, Level 10 15 Murphy Street,
Thorndon, Wellington, 6011, New Zealand
Contact details:
Dave Keen
dave@redstars.co.nz
Name of any other person believed to have given, or believed to be required to give, a disclosure under
the Financial Markets Conduct Act 2013 in relation to the financial products to which this disclosure
relates: Lodestone Energy Limited

3
Certification
I, David Keen, certify that, to the best of my knowledge and belief, the information contained in this
disclosure is correct and that I am duly authorised to make this disclosure by all persons for whom it is
made.