BUTN LIMITED — Director's Dealing 2026

Feb 26, 2026

Appendix 3Y Change of Director’s Interest Notice

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 Butn Limited

ABN 42 644 182 883

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	Rael Ross
Date of last notice	16 December 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	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Indirect is via Why K Pty Ltd atf Rael RossFamily Trust – Rael Ross is the soledirector and shareholder of the trustee,and beneficiary ofthe trust.
Date of change	27 February 2026
No. of securities held prior to change	40,350,706 ordinary fully paid shares heldindirectly.96,450 ordinary fully paid shares helddirectly.1,300,000 unlisted fully vested optionsexercisable at $0.50 per option on orbefore 26 February 2026.3,500,000 unlisted options exercisable at$0.08 per option on or before 14November 2028, which options vest asoutlined in the 2024 AGM Notice ofMeeting.

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Class	Unlisted options (BTNAD)
Number acquired	N/A
Number disposed	1,300,000
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Nil.
No. of securities held after change	40,350,706 ordinary fully paid shares heldindirectly.96,450 ordinary fully paid shares helddirectly.3,500,000 unlisted options exercisable at$0.08 per option on or before 14November 2028, which options vest asoutlined in the 2024 AGM Notice ofMeeting.
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back	Expiry of options

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
Name of registered holder(if issued securities)
Date of change
No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract inrelation to which the interest has changed

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contractsdetailed above traded during a+closed periodwhere prior written clearance was required?	No
If so, was prior written clearance provided to allowthe trade to proceed during this period?	N/A
If prior written clearance was provided, on whatdate was this provided?	N/A

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3