GENERATION DEVELOPMENT GROUP LIMITED — Capital/Financing Update 2025

Feb 9, 2025

10 February 2025

The Manager Market Announcements Office ASX Limited Rialto Towers Level 4, 525 Collins Street MELBOURNE VIC 3000

Dear Sir/Madam

Notice under section 708AA(2)(f) of the Corporations Act 2001 (Cth)

This notice is given by Generation Development Group Limited ACN 087 334 370 (ASX: GDG) ( GDG ) under section 708AA(2)(f) of the Corporations Act 2001 (Cth) ( Corporations Act ) as notionally modified by ASIC Corporations (Non-Traditional Rights Issue) Instrument 2016/84 and ASIC Corporations (Disregarding Technical Relief) Instrument 2016/73 ( ASIC Instruments ).

Where applicable, references in this notice are to sections of the Corporations Act as modified by the ASIC Instruments.

GDG has announced a fully underwritten pro rata accelerated non-renounceable entitlement offer ( Entitlement Offer ) of 1 fully paid ordinary share in GDG ( New Shares ) for every 7.16 fully paid ordinary shares held in GDG as at 7.00pm (Sydney time) on Wednesday, 12 February 2025 at a price of $4.15 per New Share to existing shareholders of the Company registered in Australia and New Zealand and certain eligible institutional investors in certain permitted foreign jurisdictions.

GDG states that:

• (a) GDG will offer the New Shares for issue without disclosure to investors under Part 6D.2 of the Corporations Act;

• (b) this notice is being given under section 708AA(2)(f) of the Corporations Act;

• (c) as at the date of this notice, GDG has complied with:

  • (i) the provisions of Chapter 2M of the Corporations Act as they apply to GDG; and

  • (ii) sections 674 and 674A of the Corporations Act;

• (d) as at the date of this notice, there is no excluded information of the type referred to in sections 708AA(8) and 708AA(9) of the Corporations Act; and

• (e) the potential effect that the Entitlement Offer will have on the control of GDG, and the consequences of that effect, will depend on a number of factors, including investor demand and existing shareholdings. However, GDG does not believe that any person will increase their voting power in GDG under the Entitlement Offer in a way that will have any material impact on the control of GDG. In particular and consistent with the Insurance Acquisitions and Takeovers Act 1991 (Cth), no person presently has a relevant interest in more than 15% of the fully paid ordinary shares in GDG ( Shares ) and no person is expected to have a more than 15% relevant interest in the Shares immediately following the Entitlement Offer.

Yours sincerely,

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Amanda Gawne Company Secretary

This notice was authorised by the board of Generation Development Group Limited.