L1 GROUP LIMITED — Share Issue/Capital Change 2023

Nov 14, 2023

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

PLATINUM ASSET MANAGEMENT LIMITED

Date of this announcement

Wednesday November 15, 2023

The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
PTMAB	PERFORMANCE RIGHTS	2,749,352	15/11/2023

Refer to next page for full details of the announcement

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

PLATINUM ASSET MANAGEMENT LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number

13050064287

1.3 ASX issuer code

PTM

1.4 The announcement is

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New announcement

1.5 Date of this announcement

15/11/2023

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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has an existing ASX security code ("existing class")

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 3B - number and type of +securities the subject of this notification (existing class) where issue has not previously been notified to ASX in an Appendix 3B

ASX +security code and description

PTMAB : PERFORMANCE RIGHTS

Date the +securities the subject of this notification were issued

15/11/2023

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class

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No

If some of the issued +securities do not rank equally:

Is the actual date from which the +securities will rank equally (non-ranking end date) known? No

Provide the estimated non-ranking end period

Eligible employees may exercise their PTMAB rights from the eight (8) year anniversary of the Grant Date, subject to vesting and exercise conditions being met.

Please state the extent to which the +securities do not rank equally: In relation to the next dividend, distribution or interest payment; or For any other reason

Each PTMAB right constitutes a right to receive up to two (2) PTM ordinary shares, subject to vesting and exercise conditions being met. Prior to the PTMAB rights being exercised, there is no entitlement to vote and receive dividends.

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Andrew Clifford	Andrew Clifford	2,152,338
Elizabeth Norman	Elizabeth Norman	298,507
Andrew Stannard	Andrew Stannard	298,507

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

https://www.platinum.com.au/media/Platinum/ASXReleases/ptm_asx_notice_of_AGM_proxy_form_231013.pdf

Any other information the entity wishes to provide about the +securities the subject of this notification

Grant date: 15 November 2023

The PTMAB rights carry an entitlement to an alternative dividend equivalent payment. This entitlement arises if a tranche

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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of an award meets its vesting condition for a performance period and continues until the corresponding PTMAB rights are exercised ("Holding Period"). During the Holding Period an eligible employee will receive an amount approximately equal to the amount of dividends that would have been paid to the employee had they held the relevant resultant number of PTM ordinary shares from the date the vesting condition was met.

Issue details

Number of +securities

2,749,352

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
PTM : ORDINARY FULLY PAID	582,167,116
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
PTMAB : PERFORMANCE RIGHTS	25,403,199
PTMAA : RIGHTS	14,863,206

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

15/11/2023

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