CVC LIMITED — Capital/Financing Update 2025

Nov 19, 2025

Appendix 3B - Proposed issue of securities

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Update Summary

Entity name

CVC LIMITED

Announcement Type

Update to previous announcement

Date of this announcement

20/11/2025

Reason for update to a previous announcement

The Appendix 3B has been updated to reflect the following changes contained in the Replacement Prospectus dated 20 November 2025: the margin of 4.50 per cent and proposed issue of 750,000 CVC Notes 3.

Refer to next page for full details of the announcement

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

CVC LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

Registration Number

ABN 34002700361

1.3 ASX issuer code

CVC

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

The Appendix 3B has been updated to reflect the following changes contained in the Replacement Prospectus dated 20 November 2025: the margin of 4.50 per cent and proposed issue of 750,000 CVC Notes 3.

1.4b Date of previous announcement to this update

12/11/2025

1.5 Date of this announcement

20/11/2025

1.6 The Proposed issue is:

A non-+pro rata offer of +securities under a +disclosure document or +PDS

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Appendix 3B - Proposed issue of securities

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Part 5 - Details of proposed non-pro rata offer under a +disclosure document or +PDS

Part 5A - Conditions

5A.1 Do any external approvals need to be obtained or other conditions satisfied before the non-pro rata offer of +securities under a +disclosure document or + PDS can proceed on an unconditional basis? No

Part 5B - Offer details

Is the proposed security a 'New	Will the proposed issue of this
class' (+securities in a class that is	+security include an offer of
not yet quoted or recorded by ASX)	attaching +securities?
or an 'Existing class' (additional	No
securities in a class that is already
quoted or recorded by ASX)?
New class
Details of +securities proposed to be issued
ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs
issued over them)
Have you received confirmation from	Will the entity be seeking quotation
ASX that the terms of the proposed	of the 'new' class of +securities on
+securities are appropriate and	ASX?
equitable under listing rule 6.1?	Yes
No
ASX +security code	+Security description
New class-code to be confirmed	Redeemable, unsecured, non-convertible, unsubordinated notes (CVC Notes 3)
+Security type
Non-convertible +debt securities
The number of +securities to be offered under the +disclosure document or
+PDS
750,000
Reason for the update of 'The number of +securities to be offered under the +disclosure document or +PDS' Will the offer be conditional on applications for a minimum number of
+securities being received or a minimum amount being raised (i.e. a
minimum subscription condition)?
No
Will individual security holders be required to accept the offer for a

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Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities	Appendix 3B - Proposed issue of securities
minimum number or value of +securities (i.e. a minimum acceptance
condition)?
Yes
Is the minimum acceptance unit based	or dollar based?
Unit based
Please enter the minimum acceptance	value
50
Will individual security holders be limited to accepting the offer for a
maximum number or value of +securities (i.e. a maximum acceptance
condition)?
No
Offer price details
Has the offer price been determined?
Yes
In what currency will the offer be	What is the offer price per +security?
made?	AUD 100.00000
AUD - Australian Dollar
Oversubscription & Scale back details
Will the entity be entitled to accept over-subscriptions?
No
Will a scale back be applied if the offer	is over-subscribed?
Yes
Describe the scale back arrangements Allocations of CVC Notes 3 may be subject to scale back if investors are applying under the New Money Offer. It is at the discretion of the Brokers as to how they allocate their Broker Firm Allocations to their clients.
Will all the +securities issued in this class rank equally in all respects from
their issue date?
Yes

Non-convertible +debt securities details

These securities are:	Type of security
None of the above	Non-convertible note or bond
+Security currency	Face value
AUD - Australian Dollar	AUD 100.0000
Interest rate type
Floating rate
Frequency of coupon/interest	First interest payment date
payments per year
Quarterly
	20/3/2026

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Appendix 3B - Proposed issue of securities

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Interest rate per annum Is the interest rate per annum If the interest rate per annum is estimated at this time? estimated, then what is the date for 8.13500 % Yes this information to be announced to the market (if known) Does the interest rate include a reference rate, base rate or market rate (e.g. BBSW or CPI)? Yes What is the reference rate, base rate or market rate? 3 month BBSW rate s128F of the Income Tax Assessment Act status applicable to the +security s128F exempt Is the +security perpetual (ie. no Maturity date maturity date)? 11/12/2028 No Select other features applicable to the +security Redeemable Is there a first trigger date on which a right of conversion, redemption, call or put can be exercised (whichever is first)? No Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement. www.cvc.com.au/investor-information/cvc-limited/corporate-governance

Part 5C - Timetable 5C.1 Lodgement date of +disclosure document or +PDS with ASIC 12/11/2025 5C.2 Date when +disclosure document or +PDS and acceptance forms will be made available to investors 20/11/2025 5C.3 Offer open date 20/11/2025 5C.4 Closing date for receipt of acceptances 3/12/2025

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Appendix 3B - Proposed issue of securities

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5C.6 Proposed +issue date

10/12/2025

Part 5D - Listing Rule requirements

5D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? No

5D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? No 5D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No 5D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No

Part 5E - Fees and expenses

5E.1 Will there be a lead manager or broker to the proposed offer? Yes

5E.1a Who is the lead manager/broker?

E&P Capital Pty Limited (ABN 21 137 980 520)

5E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

An arranger fee of 1.00% (exclusive of GST) of the Offer proceeds, and a management fee of 2.00% (exclusive of GST) of the Offer proceeds. Refer to Section 11.3(a) of the Replacement Prospectus for further details regarding the fee arrangements which are in place between CVC Limited and E&P Capital Pty Limited as Lead Manager. 5E.2 Is the proposed offer to be underwritten? No

5E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No 5E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer Refer to Section 12.6 of the Replacement Prospectus for further details regarding additional legal, administrative, trustee and accounting fees.

Part 5F - Further Information

5F.01 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

The CVC Notes 3 proceeds will be used to fund CVC's general corporate purposes and to redeem CVCHA (for those that do not participate in the Reinvestment Offer). Refer to Sections 1.1 and 4.3 of the Replacement Prospectus for further details.

5F.1 Will the entity be changing its dividend/distribution policy if the proposed offer is successful? No

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Appendix 3B - Proposed issue of securities

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5F.2 Please explain the entity's allocation policy for the offer, including whether or not acceptances from existing +security holders will be given priority

Allocations of CVC Notes 3 are at the discretion of the Brokers as to how they allocate their Broker Firm Allocations to their clients.

5F.3 URL on the entity's website where investors can download the +disclosure document or +PDS

www.cvc.com.au/investor-information/cvc-limited/corporate-governance

5F.4 Any other information the entity wishes to provide about the proposed offer

Under the Reinvestment Offer component of the Offer, Eligible CVCHA Holders may elect to exchange their CVCHA for CVC Notes 3 on a 1:1 basis and receive the following in cash for each CVCHA exchanged for CVC Notes 3: - $2.00 per CVCHA; plus

• any accrued but unpaid interest on each CVCHA to (but excluding) the CVCHA Reinvestment Date.

Further details in respect of the use of funds to be raised under the offer are set out in Section 4.3 of the Replacement Prospectus.

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