FIRSTWAVE CLOUD TECHNOLOGY LIMITED — Major Shareholding Notification 2026

Mar 18, 2026

604 page 1/2 15 July 2018

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Company/registered Firstwave Cloud Technology Limited scheme/notified foreign passport fund name ACN/ARSN/APFRN 144 733 595

NFPFRN (if applicable)

1. Details of substantial holder (1) Name Fenja Capital II A/S

ACN/ARSN/APFRN (if applicable)

NFPFRN (if applicable)

There was a change in the interests of the substantial holder on 17 03 202 / / 6 The previous notice was given to the company, or the responsible entity for a registered scheme, or the operator of a notified foreign passport fund on / / The previous notice was dated ~~17 02 20~~ / / 26

2. Previous and present voting power

The total number of votes attached to all the voting shares or interests in the company, scheme or fund that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company, scheme or fund, are as follows:

ws:
Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Fully paid ordinary shares	125,000,000	5.89%	104,242,212	4.90%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company, scheme or fund, since the substantial holder was last required to give a substantial holding notice to the company, scheme or fund are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
	See Annex A

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
Fenja Capita	l HSBC Bank Australia			104,242,212	104,242,212
II A/S	Limited			(ORD)

604 page 2/2 15 July 2018

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting securities in the company, scheme or fund are as follows:

Name and ACN/ARSN/APFRN (if Nature of association applicable) and NFPFRN (if applicable)

6. Addresses

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

Name Address Fenja Capital II A/S Østre Alle 102, DK-9000 Aalborg, Denmark

Signature

Rasmus Viggers CIO print name capacity sign here date 17 03 2026 / /

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.

• (2) See the definition of "associate" in section 9 of the Corporations Act 2001.

• (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

• (4) The voting shares of a company constitute one class unless divided into separate classes.

• (5) The person's votes divided by the total votes in the body corporate, scheme or fund multiplied by100.

• (6) Include details of:

• (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

• (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• (7) Details of the consideration must include any and all benefits, money or otherwise, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

• (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".

• (9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

Annex A

This is Annex A of 1 page referred to in form 604 Notice of change of interests of substantial shareholder

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideraton given in relaton to change (7)	Class and number of securites afected	Person’s votes afected
25/02/2026	Fenja Capital II A/S	On mkt sell	0.00438659	ORD	-501,388
26/02/2026	Fenja Capital II A/S	On mkt sell	0.00432668	ORD	-495,232
27/02/2026	Fenja Capital II A/S	On mkt sell	0.004	ORD	-205,000
02/03/2026	Fenja Capital II A/S	On mkt sell	0.0044	ORD	-1,178,086
03/03/2026	Fenja Capital II A/S	On mkt sell	0.004	ORD	-1,008,497
05/03/2026	Fenja Capital II A/S	On mkt sell	0.0041	ORD	-382,600
06/03/2026	Fenja Capital II A/S	On mkt sell	0.004	ORD	-165,217
09/03/2026	Fenja Capital II A/S	On mkt sell	0.0035	ORD	-8,833,680
10/03/2026	Fenja Capital II A/S	On mkt sell	0.004	ORD	-330,392
11/03/2026	Fenja Capital II A/S	On mkt sell	0.004	ORD	-430,641
12/03/2026	Fenja Capital II A/S	On mkt sell	0.004	ORD	-474,956
13/03/2026	Fenja Capital II A/S	On mkt sell	0.0038	ORD	-1,383,415
17/03/2026	Fenja Capital II A/S	On mkt sell	0.00309905	ORD	-5,368,684

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Rasmus Viggers, CIO

17/03/2026

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