CHALLENGER LIMITED — Share Issue/Capital Change 2026

May 24, 2026

Appendix 3H - Notification of cessation of securities

Announcement Summary

Entity name
CHALLENGER LIMITED

Announcement Type
New announcement

Date of this announcement
Monday May 25, 2026

Details of +securities that have ceased

ASX +security code	Security description	Number of +securities that have ceased	The +securities have ceased due to	Date of cessation
CGFPC	CAP NOTE 3-BBSW+4.60%
PERP NON-CUM RED T-05-26	3,850,000	Other	25/05/2026

Refer to next page for full details of the announcement

Appendix 3H - Notification of cessation of securities

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Appendix 3H - Notification of cessation of securities

Part 1 - Announcement Details

1.1 Name of +Entity
CHALLENGER LIMITED
We (the entity named above) provide the following information about our issued capital.

1.2 Registered Number Type
Registration Number
ABN
85106842371

1.3 ASX issuer code
CGF

1.4 The announcement is
New announcement
1.5 Date of this announcement
25/5/2026

Appendix 3H - Notification of cessation of securities

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Appendix 3H - Notification of cessation of securities

Part 2 - Details of +equity securities or +debt securities that have ceased

ASX +Security Code and Description

CGFPC : CAP NOTE 3-BBSW+4.60% PERP NON-CUM RED T-05-26

Quoted +equity securities or +debt securities that have ceased

Number of securities that have ceased
3,850,000

Reason for cessation

Other

Please provide additional details

Redemption of CGFPC for $100 per Note in accordance with the terms and conditions of CGFPC. For more information, please refer to the Redemption Notice issued by Challenger Limited on 21 April 2026 and the Challenger Capital Notes 3 Prospectus dated 21 October 2020.

Date of cessation
25/5/2026

Is the entity paying any consideration for the cessation?
No

Any other information the entity wishes to notify to ASX about the cessation?

Appendix 3H - Notification of cessation of securities

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Appendix 3H - Notification of cessation of securities

Part 3 - Issued capital following changes

Following the cessation of the +securities the subject of this notification, the issued capital of the entity will comprise:

The figures in parts 3.1 and 3.2 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.

3.1 Quoted +equity securities and +debt securities (total number of each +class of +securities quoted on ASX)

ASX +security code and description	Total number of +securities on issue
CGF : ORDINARY FULLY PAID	687,737,874
CGFPC : CAP NOTE 3-BBSW+4.60% PERP NON-CUM RED T-05-26	0
CGFPD : CAP NOTE 3-BBSW+3.60% PERP NON-CUM RED T-05-29	3,500,000

3.2 Unquoted +equity securities (total number of each +class of +equity securities issued but not quoted on ASX)

ASX +security code and description	Total number of +securities on issue
CGFAA : PERFORMANCE RIGHTS	12,324,941

Note: the figures stated in the tables above are used to calculate the total market capitalisation of the entity published by ASX from time to time. The table will not include those classes of +securities that have ceased or lapsed in their entirety in ASX records before the announcement date described in Q1.5, even if the entity has advised ASX of a change to that class of +security in Part 2 of this form.

Appendix 3H - Notification of cessation of securities