MORPHIC ETHICAL EQUITIES FUND LIMITED — Major Shareholding Notification 2025

Apr 3, 2025

604 Page 1 of 3 15 July 2001

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme Morphic Ethical Equities Fund Limited (ASX: MEC)

ACN/ARSN ACN: 617 345 123

1. Details of substantial holder (1)

Name Future Generation Global Limited

ACN/ARSN (if applicable)

606 110 838

There was a change in the interests of the substantial holder on 02 / 04 / 2025 The previous notice was given to the company on 03 / 03 / 2025 The previous notice was dated 03 / 03 / 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 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:

he total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or n associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the ompany or scheme, are as follows:	he total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or n associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the ompany or scheme, are as follows:	he total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or n associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the ompany or scheme, are as follows:	he total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or n associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the ompany or scheme, are as follows:	he total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or n associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the ompany 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 4,969,166 14.26% 5,348,406 15.36%

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:

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Date of Person whose Nature of change (6) Consideration given in Class and number Person's votes
change relevant interest relation to change (7) of securities affected
changed affected
Annexure
A
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4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

articulars of each relevant interest of the substantial holder in voting securities after the change are as follows:	articulars of each relevant interest of the substantial holder in voting securities after the change are as follows:	articulars of each relevant interest of the substantial holder in voting securities after the change are as follows:	articulars of each relevant interest of the substantial holder in voting securities after the change are as follows:	articulars of each relevant interest of the substantial holder in voting securities after the change are as follows:	articulars 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
Future Generation Global Limited Future Generation Global Limited Future Generation Global Limited Beneficial Owner 5,348,406 ordinary shares 5,348,406

604 Page 2 of 3 15 July 2001

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

6. Addresses

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

he addresses of persons named in this form are as follows:	he addresses of persons named in this form are as follows:
Name Address
Future Generation Global Limited Level 26, 1 Farrer Place Sydney NSW 2000

Signature

print name Jesse Hamilton capacity Company Secretary sign here date 0 4 / 04 / 2025

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 identity of the person (eg. if the relevant interest arises because of an option) write "unknown".

604 Page 3 of 3 15 July 2001

(9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

ANNEXURE A

Future Generation Global ACN 606 110 838

Date of Change	Persons whose relevant interest changed	Nature of Change	Consideration given in relation to change	Number of Securities afected	Class of Securities afected	Persons votes afected
4-Mar-25	Future Generation Global Limited	On Market Purchase	28,165.46	27,213	Ordinary Shares	27,213
5-Mar-25	Future Generation Global Limited	On Market Purchase	30,206.02	29,089	Ordinary Shares	29,089
13-Mar-25	Future Generation Global Limited	On Market Purchase	116,316.00	116,316	Ordinary Shares	116,316
17-Mar-25	Future Generation Global Limited	On Market Purchase	63,836.70	62,585	Ordinary Shares	62,585
21-Mar-25	Future Generation Global Limited	On Market Purchase	25,004.28	24,276	Ordinary Shares	24,276
27-Mar-25	Future Generation Global Limited	On Market Purchase	16,343.61	15,900	Ordinary Shares	15,900
28-Mar-25	Future Generation Global Limited	On Market Purchase	65,292.50	63,700	Ordinary Shares	63,700
2-Apr-25	Future Generation Global Limited	On Market Purchase	41,165.03	40,161	Ordinary Shares	40,161

This is Annexure A of 1 pages referred to in Form 604 - Notice of change of interests of substantial holder.

Signed: _________ Date: 04/04/2025