CVC LIMITED — Capital/Financing Update 2025

Nov 11, 2025

Appendix 3B - Proposed issue of securities

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Announcement Summary

Entity name

CVC LIMITED

Announcement Type

New announcement

Date of this announcement

12/11/2025

The Proposed issue is:

A non pro rata offer of securities under a disclosure document or product disclosure statement (PDS)

Total number of +securities proposed to be issued for a non pro rata offer of securities under a disclosure document or product disclosure statement (PDS)

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
New class-code to be	Redeemable, unsecured, non-convertible, unsubordinated	500000
confirmed	notes (CVC Notes 3)

Closing date for receipt of acceptances

3/12/2025

Proposed +issue date

10/12/2025

Refer to next page for full details of the announcement

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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

New announcement

1.5 Date of this announcement

12/11/2025

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 New class-code to be confirmed	+Security description 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
500,000
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
minimum number or value of +securities (i.e. a minimum acceptance
condition)?
Yes

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Appendix 3B - Proposed issue of securities

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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
Interest rate per annum	Is the interest rate per annum	If the interest rate per annum is
8.13500 %	estimated at this time?	estimated, then what is the date for

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Appendix 3B - Proposed issue of securities

Yes

this information to be announced to the market (if known)

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	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)? No	11/12/2028
	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. investor-information/cvc-limited/corporate-governance www.cvc.com.au/
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
	5C.6 Proposed +issue date
	10/12/2025

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Appendix 3B - Proposed issue of securities

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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 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 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).

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

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

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Appendix 3B - Proposed issue of securities

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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 Prospectus.

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