IMAGE RESOURCES NL — Major Shareholding Notification 2024

May 5, 2024

604 page 3/3

15 July 2001

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme Image Resources NL

ACN/ARSN 063 977 579

1. Details of substantial holder (1) Name Li Huang Cheng ( Mr Li ), Winston Lee ( Mr Lee ) and Vestpro International Limited ( Vestpro ) ACN/ARSN (if applicable)

There was a change in the interests of the substantial holder on 26/04/2024 The previous notice was given to the company on 11/01/2022 The previous notice was dated 11/01/2022

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	Present notice	Present notice
	Person’s votes	Voting power(5)	Person’s votes	Voting power(5)
Ordinary	151,515,494	14.96%	151,515,494	13.49%

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:

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
19/01/2022 to 10/04/2024	Mr Li Mr Lee Vestpro	Changes from decreases in total number of ordinary shares on issue following completion of share buy-backs under the Company’s Employee Share Plan	N/A	Ordinary 151,515,494	151,515,494
17/03/2022 to 21/03/2022	Mr Li Mr Lee Vestpro	Dilution from increases in total number of ordinary shares on issue following issues of shares on exercise of options	N/A	Ordinary 151,515,494	151,515,494
28/04/2022	Mr Li Mr Lee Vestpro	Dilution from increase in total number of ordinary shares on issue following issue of shares under the Company’s Dividend Reinvestment Plan	N/A	Ordinary 151,515,494	151,515,494
12/09/2022	Mr Li Mr Lee Vestpro	Dilution from increase in total number of ordinary shares on issue following completion of issue of securities under the Company’s Employee Share Plan	N/A	Ordinary 151,515,494	151,515,494
26/04/2024	Mr Li Mr Lee Vestpro	Dilution from increase in total number of ordinary shares on issue following issue of shares as security in accordance with an At-the-Market Subscription Deed	N/A	Ordinary 151,515,494	151,515,494

604 page 2/3 15 July 2001

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
Li Huang Cheng	Vestpro International Limited	Vestpro International Limited	Pursuant to section 608(3)(b) Corporations Act - a body corporate the person controls	Ordinary 151,515,494	151,515,494
Winston Lee	Vestpro International Limited	Vestpro International Limited	Pursuant to section 608(1)(b) & (c) Corporations Act - power to control the exercise or a right to vote and a power to dispose held jointly with others	Ordinary 151,515,494	151,515,494
Vestpro International Limited	Vestpro International Limited	Vestpro International Limited	Section 608(1)(a) Corporations Act – registered holder of securities	Ordinary 151,515,494	151,515,494

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 and ACN/ARSN (if applicable)	Nature of association
N/A	N/A

6. Addresses

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

Name	Address
Li Huang Cheng	9F/No. 12, Aly. 3, Ln. 53, Sec. 4, Najing E. Rd, Taipei City, Republic of China
Winston Lee	Unit 45C, 15 East 30thStreet, New York NY 10016, United States
Vestpro International Limited	Unit 1306, 13/F Arion Commercial Centre, 2-12 Queens Road West, Sheung Wan, Hong Kong

604 page 3/3 15 July 2001

Signature

604 page 3/3 15 July 2001	604 page 3/3 15 July 2001
Signature
print name sign here	Winston Lee capacity Individual and Director of Vestpro International Limited
	date / / 06 05 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 on 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.

• (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 on 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.