CODAN LIMITED — Share Issue/Capital Change 2025

Oct 27, 2025

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

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Announcement Summary

Entity name

CODAN LIMITED

Date of this announcement

Tuesday October 28, 2025

The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
CDAAI	PERFORMANCE RIGHTS	33,948	28/10/2025

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

CODAN 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 ABN 77007590605

1.3 ASX issuer code

CDA

1.4 The announcement is

New announcement

1.5 Date of this announcement

28/10/2025

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

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Securities issued under an +employee incentive scheme that are subject to a restriction on transfer and are not being quoted on ASX until the restriction ends

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

has an existing ASX security code ("existing class")

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

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Part 3B - number and type of +securities the subject of this notification (existing class) where issue has not previously been notified to ASX in an Appendix 3B

Additional +securities in an existing class issued under an +employee incentive scheme ASX +security code and description

CDAAI : PERFORMANCE RIGHTS

Date the +securities the subject of this notification were issued

28/10/2025

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

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----- Start of picture text ----- Name of KMP Name of registered holder Number of +securitiesAlfonzo Ianniello Alfonzo Ianniello 33,948Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive schemeor a summary of the terms- - -https://codan.com.au/wp content/uploads/2024/11/CDA_Share Rights Plan_Oct2024.pdfAny other information the entity wishes to provide about the +securities the subject of this notificationPerformance Rights issue as approved at 2025 AGM (Resolution 3) - LTI.----- End of picture text -----

Issue details

Number of +securities

33,948

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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
CDA : ORDINARY FULLY PAID	181,864,253

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
CDAAI : PERFORMANCE RIGHTS	1,018,770
CDAAJ : NED RIGHTS	6,483

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

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

22/10/2025

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