DUG TECHNOLOGY LTD — Major Shareholding Notification 2026

Mar 24, 2026

NOTICE OF INITIAL SUBSTANTIAL HOLDER

FORM 603 Corporations Act 2001 Section 671B

To: Company Name/Scheme

DUG - Dug Technology Ltd

ACN/ARSN

169 944 334

1. Details of Substantial Holder(1)

Name Acorn Capital Limited ACN/ARSN (if applicable) 082 694 531 The holder became a substantial holder on 24/03/2026

2. Details of Voting Power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

	Class of Securities (4)	Number of Securities	Person's Votes (5)	Voting Power (6)
	Ordinary	6,796,818	6,796,818	5.02%

3. Details of Relevant Interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

	holder became a substantial	holder are as follows:
	Holder of Relevant Interest	Nature of Relevant Interest (7)	Class and Number of Securities
	Acorn Capital Ltd	In its capacity as investmentmanager for various superannuationfunds, institutional investor portfolios	6,796,818
		and unit trusts has the powerto exercise , or control of, a rightattached to the securities and
		has the power to dispose of, orcontrol the exercise of a power todispose of, the securities.

4. Details of Present Registered Holders

The persons registered as holders of the securities referred to in Paragraph 3 above are as follows:

Holder of Relevant Interest	Registered Holder of Securities	Person Entitled to be Registered as Holder(8)	Class and Numberof Securities
Acorn Capital Ltd	BNP Paribas Securities Services Australia	BNP Paribas Securities Services Australia	1,455,408.00
Acorn Capital Ltd	Northern Trust	Northern Trust	1,476,834.00
Acorn Capital Ltd	JP Morgan Chase Nominees	JP Morgan Chase Nominees	1,499,409.00
Acorn Capital Ltd	State Street Bank and Trust	State Street Bank and Trust	2,365,167.00

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5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

	Holder of Relevant Interest	Date of Acquisition	Consideration (9)	Class and Number of Securities
	See Annexure A

6. Associates

The reasons the persons named in Paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable) Name of Association

7. Addresses

The addresses of persons named in this form are as follows:

Name	Address
All Relevant Holders	C/O Acorn Capital Limited, Level 4, 2 Russell Street, Melbourne Victoria 3000

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----- Start of picture text ----- Print Name PAUL PALUMBO Capacity DirectorSign Here Date 25/03/2026----- End of picture text -----

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Annexure A

25/03/2026

This Annexure A referred to in the Form 603 Notice of Initial Substantial Holder signed by me and dated

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..................................................

PAUL PALUMBO Director

	Date of Change	Entity Acorn Capital Ltd	Type of Transaction	Consideration	Quantity
	16/03/2026	Acorn Capital Ltd	Purchase	$165,251.85	83,195
	17/03/2026	Acorn Capital Ltd	Purchase	$159,481.97	79,570
	19/03/202620/03/202623/03/202624/03/2026	Acorn Capital LtdAcorn Capital LtdAcorn Capital LtdAcorn Capital Ltd	PurchasePurchasePurchasePurchase	$3,012.60$40,871.53$91,546.11$130,720.69	1,50320,41845,81065,275

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