HIGHCOM LIMITED — Major Shareholding Notification 2026

Apr 8, 2026

Corporations Act 2001

Section 671B

Form 604

Notice of change of interests of substantial holder

HIGHCOM LIMITED (HCL)

To Company Name/Scheme ACN/ARSN 103 629 107

1. Details of substantial holder (1)

Name

ACN/ARSN (if applicable)

Regal Partners Funds Management Pty Limited and its associates (see Annexure 1)

There was a change in the interests of the substantial holder on

The previous notice was given to the company on The previous notice was dated

2/04/2026 18/02/2026 16/02/2026

2. Previous and present 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 when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice	Previous notice	Current notice	Current notice
	Person's votes	Voting power(5)	Person's votes	Voting power (5)
ORDINARY	9,000,000	7.01%	7,961,507	5.62%*

*The % substantial is based on the shares on issue of 141,655,172 as disclosed by the Company on 02-04-2026.

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 or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Holder of relevant interest	Date of acquisition	Consideration (9)	Class and number of securities
	See Annexure 2

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 asholder (8)	Nature of relevantinterest (6)	Class andnumber ofsecurities	Person'svotes
Regal Partners FundsManagement Pty Limited andits associates	UBS NOMINEES PTY LTD	UBS AG, AUSTRALIA BRANCH	Power to dispose of,or control theexercise of a powerto dispose of, thesecurities.	2,450,000ORDINARY	2,450,000
Regal Partners FundsManagement Pty Limited andits associates	MERRILL LYNCH (AUS) NOMINEES PTY LTD	MERRILL LYNCHINTERNATIONAL LIMITED	Power to dispose of,or control theexercise of a powerto dispose of, thesecurities.	4,365,367ORDINARY	4,365,367
Regal Partners FundsManagement Pty Limited andits associates	J.P. MORGAN PRIME NOMINEES LTD	J.P MORGAN SECURITIES PLC	Power to dispose of,or control theexercise of a powerto dispose of, thesecurities.	554,377ORDINARY	554,377
Regal Partners FundsManagement Pty Limited andits associates	CITICORP NOMINEES PTY LIMITED	CITIGROUP GLOBAL MARKETSLIMITED	Power to dispose of,or control theexercise of a powerto dispose of, thesecurities.	591,763ORDINARY	591,763

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 interests in the company or scheme are as follows:

The persons who have become associates (2) of, ceased to be associates of, orrelation to voting interests in the company or scheme are as follows:	have changed the nature of their association (9) with, the substa
Name and ACN/ARSN (if applicable)	Nature of association
N/A
6. AddressesThe addresses of persons named in this form are as follows:
Name	Address
REGAL PARTNERS FUNDS MANAGEMENT PTY LIMITED	LEVEL 46, GATEWAY, 1 MACQUARIE PLACE, SYDNEYNSW 2000
REGAL PARTNERS HOLDINGS PTY LIMITED	LEVEL 46, GATEWAY, 1 MACQUARIE PLACE, SYDNEYNSW 2000
REGAL PARTNERS LIMITED	LEVEL 46, GATEWAY, 1 MACQUARIE PLACE, SYDNEYNSW 2000

Signature

print name	Kathleen Liu	capacity	CompanySecretary
sign here		date	8/04/2026

Annexure 1

Details of Substantial Holders

ACN	Name
610 797 138	REGAL PARTNERS FUNDS MANAGEMENT PTY LIMITED
107 576 821	REGAL PARTNERS HOLDINGS PTY LIMITED
129 188 450	REGAL PARTNERS LIMITED

Annexure 2

Changes in Relevant Interests

Date	Person whose relevant interest changed	Nature ofChange	Considerationgiven in relationto change	Number ofsecuritiesaffected	Class ofsecurities	Personsvotesaffected
6/03/2026	Regal Partners Funds Management Pty Limited as investment manager(and, where applicable, Regal Partners Holdings Pty Limited as trustee)(and Regal Partners Limited by virtue of its control of such entitles)	Sell	26253.44	134633	Ordinary	134633
16/03/2026	Regal Partners Funds Management Pty Limited as investment manager(and, where applicable, Regal Partners Holdings Pty Limited as trustee)(and Regal Partners Limited by virtue of its control of such entitles)	Sell	136896.38	745623	Ordinary	745623
19/03/2026	Regal Partners Funds Management Pty Limited as investment manager(and, where applicable, Regal Partners Holdings Pty Limited as trustee)(and Regal Partners Limited by virtue of its control of such entitles)	Sell	28087.07	158237	Ordinary	158237

Regal Partners Funds Management Pty Limited as investment manager (and, where applicable, Regal Partners Holdings Pty Limited as trustee) Holding diluted due to the issue of 9,329,333 shares (announced on the 2/04/2026 (and Regal Partners Limited by virtue of its control of such entitles) Sell 02 April 2026)