ASSOCIATE GLOBAL PARTNERS LIMITED — Share Issue/Capital Change 2025

Nov 13, 2025

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Announcement Summary

Entity name

ASSOCIATE GLOBAL PARTNERS LIMITED

Date of this announcement

Friday November 14, 2025

The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
APLAA	PERFORMANCE RIGHTS	491,000	14/11/2025

Refer to next page for full details of the announcement

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Part 1 - Entity and announcement details

1.1 Name of entity

ASSOCIATE GLOBAL PARTNERS 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 Registration number ACN 080277998

1.3 ASX issuer code

APL

1.4 The announcement is

New announcement

1.5 Date of this announcement

14/11/2025

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Previous Appendix 3B details:

Announcement Date and	Announcement Title	Selected Appendix 3B to submit quotation
Time		request
13-Nov-2025 16:41	New - Proposed issue of securities -	A placement or other type of issue
	APL

2.3a.2 Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B?

No

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Part 3A - number and type of +securities the subject of this notification (existing class or new class) where issue has previously been notified to ASX in an Appendix 3B

Placement Details

ASX +security code and description

APLAA : PERFORMANCE RIGHTS

Date the +securities the subject of this notification were issued

14/11/2025

Any other information the entity wishes to provide about the +securities the subject of this notification

The performance rights will automatically vest to Mr Marty Switzer on the earlier of (i) 12 months after the issue date or (ii) the occurrence of a Change of Control Event (refer definition in Notice of Meeting dated 8 October 2025) and conditional on Mr Switzer remaining employed by the Company and that he has not given notice to terminate his employment.

Issue details

Number of +securities

491,000

Were the +securities issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

Nil cash consideration. The issue price for the Performance Rights is nil. The issue price for any shares issued on vesting of Performance Rights is nil.

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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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)

	Total number of
ASX +security code and description	+securities on issue
APL : ORDINARY FULLY PAID	57,442,426
4.2 Unquoted +securities (Total number of each +class of +securities issued but not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
APLAA : PERFORMANCE RIGHTS	2,413,000

4.2 Unquoted +securities (Total number of each +class of +securities issued but not quoted on ASX)

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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