MICRO-X LIMITED — Major Shareholding Notification 2026

Jan 19, 2026

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme Micro-X Ltd
ACN/ARSN: 153 273 735	Source:	Australian Business Register
1. Details of substantial holder (1)
Name: Perennial Value Management	Limited (PVM)
ACN/ARSN (if applicable) 22 090 879 904
There was a change in the interest of the substantial holder on		22 December 2025
The previous notice was given to the company on		6 October 2025
The previous notice was dated		3 October 2025

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 relavant 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	78,495,806	11.75	72,731,910	10.32

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 & number of securities affected	Person's votes affected
6/10/2025	HSBC	Sell on the Market	790.56 $	7,488	7,488
6/10/2025	CiticorpNominees PtyLimited	Sell on the Market	14,751.50 $	139,723	139,723
6/10/2025	HSBC	Sell on the Market	5,537.82 $	52,453	52,453
6/10/2025	HSBC	Sell on the Market	17,444.34 $	165,229	165,229
6/10/2025	HSBC	Sell on the Market	13,646.96 $	129,261	129,261
6/10/2025	HSBC	Sell on the Market	1,271.57 $	12,044	12,044
7/10/2025	HSBC	Sell on the Market	275.63 $	2,579	2,579
7/10/2025	CiticorpNominees PtyLimited	Sell on the Market	5,142.36 $	48,115	48,115
7/10/2025	HSBC	Sell on the Market	1,930.51 $	18,063	18,063
7/10/2025	HSBC	Sell on the Market	6,081.06 $	56,898	56,898
7/10/2025	HSBC	Sell on the Market	4,757.29 $	44,512	44,512
7/10/2025	HSBC	Sell on the Market	443.22 $	4,147	4,147
8/10/2025	HSBC	Sell on the Market	1,772.05 $	17,689	17,689
8/10/2025	CiticorpNominees PtyLimited	Sell on the Market	33,066.04 $	330,073	330,073
8/10/2025	HSBC	Sell on the Market	12,413.35 $	123,913	123,913
8/10/2025	HSBC	Sell on the Market	39,102.36 $	390,329	390,329
8/10/2025	HSBC	Sell on the Market	30,590.34 $	305,360	305,360
8/10/2025	HSBC	Sell on the Market	2,850.16 $	28,451	28,451
10/10/2025	HSBC	Sell on the Market	1,873.39 $	18,738	18,738
10/10/2025	HSBC	Sell on the Market	13,123.31 $	131,262	131,262
20/10/2025	HSBC	Sell on the Market	2,622.74 $	24,984	24,984
20/10/2025	HSBC	Sell on the Market	18,372.64 $	175,016	175,016
21/10/2025	HSBC	Sell on the Market	946.45 $	8,606	8,606
21/10/2025	HSBC	Sell on the Market	6,629.67 $	60,283	60,283
24/10/2025	HSBC	Sell on the Market	2,314.77 $	21,048	21,048
24/10/2025	HSBC	Sell on the Market	4,320.24 $	39,974	39,974
24/10/2025	HSBC	Sell on the Market	16,215.38 $	147,445	147,445
24/10/2025	HSBC	Sell on the Market	30,264.15 $	280,026	280,026
27/10/2025	HSBC	Sell on the Market	5,026.92 $	43,722	43,722
27/10/2025	HSBC	Sell on the Market	35,214.22 $	306,278	306,278
27/10/2025	HSBC	Sell on the Market	4,828.94 $	42,000	42,000
28/10/2025	CiticorpNominees PtyLimited	Buy on the Market	165,150.00 $	1,500,000	1,500,000
28/10/2025	HSBC	Sell on the Market	165,150.00 $	1,500,000	1,500,000
31/10/2025	HSBC	Sell on the Market	549.55 $	4,997	4,997
31/10/2025	HSBC	Sell on the Market	3,849.48 $	35,003	35,003
5/11/2025	HSBC	Sell on the Market	4,072.97 $	38,725	38,725
5/11/2025	HSBC	Sell on the Market	28,531.85 $	271,275	271,275
6/11/2025	HSBC	Sell on the Market	6,556.86 $	62,460	62,460
6/11/2025	HSBC	Sell on the Market	45,931.59 $	437,540	437,540
10/11/2025	HSBC	Sell on the Market	802.08 $	8,120	8,120
10/11/2025	HSBC	Sell on the Market	5,618.51 $	56,880	56,880
12/11/2025	HSBC	Sell on the Market	355.98 $	3,748	3,748
12/11/2025	HSBC	Sell on the Market	2,493.39 $	26,252	26,252
14/11/2025	HSBC	Buy on the Market	3,544,159.86 $	37,306,946	37,306,946
14/11/2025	HSBC	Sell on the Market	3,466.43 $	38,101	38,101
14/11/2025	HSBC	Sell on the Market	24,282.47 $	266,899	266,899
14/11/2025	HSBC	Sell on the Market	2,146,669.02 $	22,596,516	22,596,516
14/11/2025	HSBC	Buy on the Market	75,964.38 $	799,625	799,625
14/11/2025	HSBC	Buy on the Market	147,603.21 $	1,553,718	1,553,718
14/11/2025	HSBC	Sell on the Market	1,621,058.43 $	17,063,773	17,063,773

17/11/2025	HSBC	Sell on the Market	586.99 $	6,246	6,246
17/11/2025	HSBC	Sell on the Market	4,111.97 $	43,754	43,754
20/11/2025	HSBC	Sell on the Market	8,188.20 $	90,000	90,000
21/11/2025	CiticorpNominees PtyLimited	Sell on the Market	1,481.97 $	16,470	16,470
27/11/2025	HSBC	Sell on the Market	22,495.05 $	250,000	250,000
4/12/2025	HSBC	Sell on the Market	12,897.16 $	150,000	150,000
8/12/2025	HSBC	Sell on the Market	8,325.50 $	96,717	96,717
9/12/2025	HSBC	Sell on the Market	3,009.34 $	35,000	35,000
10/12/2025	HSBC	Sell on the Market	4,149.09 $	50,000	50,000
11/12/2025	HSBC	Sell on the Market	4,399.03 $	50,000	50,000
12/12/2025	HSBC	Sell on the Market	4,299.05 $	50,000	50,000
22/12/2025	HSBC	Sell on the Market	22,994.94 $	250,000	250,000
22/12/2025	HSBC	Sell on the Market	2,872.53 $	31,230	31,230
22/12/2025	HSBC	Sell on the Market	20,122.41 $	218,770	218,770

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 & number of securities (Ord)	Person's votes
Perennial Value Management Limited	HSBC	HSBC	48,120,054	48,120,054	48,120,054
Perennial Value Management Limited	Northern Trust	Northern Trust	4,696,269	4,696,269	4,696,269
Perennial Value Management Limited	Citicorp Nominees Pty Limited	Citicorp Nominees Pty Limited	19,915,587	19,915,587	19,915,587

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 & ACN Nature of association Not applicable

6. Addresses

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

Name	Address
Perennial Value Management Ltd	Level 27, 88 Phillip St SydneyNSW 2000
Micro-X Ltd	1 Dalmore Drive,Scoresby,Vic

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Signature
Print Name Bill Anastasopoulos Capacity Company Secretary
Sign Here Date 19/01/2026
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