HYDROCARBON DYNAMICS LIMITED — Major Shareholding Notification 2024

Nov 17, 2024

604 page 1/2 15 July 2001

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme

ACN/ARSN

Hydrocarbon Dynamics Limited

117 387 354

1. Details of substantial holder(1)

Name Stirling McGregor Super Pty Ltd

ACN/ARSN (if applicable) 135 428 076

There was a change in the interests of the substantial holder on 18/11/24 The previous notice was given to the company on 4/5/2020 The previous notice was dated 4/5/2020

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		Present notice
	Person’s votes	Voting power (5)	Person’s votes	Voting power (5)
Ordinary Shares	31,782,790	9.21%	159,082,428	17.15%

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 are as follows:

Date of	Person whose	Nature of	Consideration given	Class and number	Person’s votes
change	relevant interest	change (6)	in relation to change	of securities	affected
	changed		(7)	affected
27/11/2020	Stirling McGregorSuper Pty Ltd	Placement	$140,000	Ordinary shares7,000,000	7,000,000
18/3/2022	Stirling McGregorSuper Pty Ltd	Rights Issue	$142,203,57	Ordinary shares12,927,597	12,927,597
18/5/2023	Stirling McGregorSuper Pty Ltd	Rights Issue	$155,131.16	Ordinary shares12,927,597	12,927,597
29/12/2023	Stirling McGregorSuper Pty Ltd	Placement	$50,000.00	Ordinary shares11,111,111	11,111,111
15/12/2024	Stirling McGregorSuper Pty Ltd	Rights Issuesub-underwriter	$250,000.00	Ordinary shares83,333,333	83,333,333

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	Registered	Person entitled to	Nature of relevant	Class and	Person’s
interest	holder of	be registered as	interest (6)	number of	votes
	securities	holder (8)		securities
	Stirling
	McGregor	Stirling McGregor
Stirling McGregor	Super Pty Ltd	Super Pty Ltd	Controls registered	159,082,428
Super Pty Ltd	<Stirling	<Stirling	holder (section 608	Ordinary fully	159,082,428
	McGregor	McGregor Super	(3)(b))	paid
	Super Fund	Fund A/c>
	A/c>

page 2/2 15 July 2001

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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:

Name andACN/ARSN(ifapplicable)	Nature ofassociation
N/A

6. Addresses

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

Name	Address
Stirling McGregor Super Pty Ltd	Level 14, 1 Collins Street, Melbourne, Vic. 3000

Signatureprint nameStirling McGregorcapacity Director	Signatureprint nameStirling McGregorcapacity Director
	sign heredate18/11/2024
	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 or scheme multiplied by 100.
(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 and other, 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 identify 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.

• (7) Details of the consideration must include any and all benefits, money and other, 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 identify 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.