MURRAY COD AUSTRALIA LIMITED — Major Shareholding Notification 2026

May 13, 2026

603 page 1/2 15 July 2018

Form 603
Corporations Act 2001
Section 671B

Notice of initial substantial holder

To Company/registered scheme/notified foreign passport fund name
Murray Cod Australia Limited
143 928 625

ACN/ARSN/APFRN
NFPFRN (if applicable)

1. Details of substantial holder (1)
   Name
   George Roger Commins

ACN/ARSN/APFRN (if applicable)

NFPFRN (if applicable)

The holder became a substantial holder on 12/05/26

1. Details of voting power
   The total number of votes attached to all the voting shares or interests in the company, scheme or fund that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
Ordinary	10,466,572	10,466,572	5.48%

1. Details of relevant interests
   The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
Brigalow Enterprises Pty Ltd	Relevant interest held as Trustee of Brigalow Trust Account	9,547,572 Ordinary
Brigalow Enterprises Pty Ltd	Held by Company	200,000 Ordinary
Commins Partnership Pty Ltd	Trustee for Self-Managed Super Fund	719,000 Ordinary

1. Details of present registered holders
   The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Class and number of securities
Brigalow Enterprises Pty Ltd	Brigalow Enterprises Pty Ltd	n/a	9,747,572 Ordinary
Commins Partnership Pty Ltd	Commins Partnership Pty Ltd	n/a	719,000 Ordinary

1. Consideration
   The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration (9)		Class and number of securities
		Cash	Non-cash
Brigalow Enterprises Pty Ltd	12/05/2026	$784,992.90		5,233,286 Ordinary

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603 page 2/2 15 July 2018

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN/APFRN (if applicable) and NFPFRN (if applicable)	Nature of association
Brigalow Enterprises Pty Ltd	George Roger Commins is Director and Shareholder of Brigalow Enterprises Pty Ltd ACN 117 275 288
Commins Partnership Pty Ltd	George Roger Commins is Director and Shareholder of Commins Partnership Pty Ltd ACN 073 580 864

7. Addresses

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

Name	Address
George Roger Commins	Farm 1758 Litchfield Road Whitton NSW 2705

Signature

print name George Roger Commins

capacity Director

sign here

GR Commins

date 14 /05 /26

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 7 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 total number of votes attached to all the voting shares or interests in the company, scheme or fund (if any) that the person or an associate has a relevant interest in.

(6) The person's votes divided by the total votes in the body corporate, scheme or fund multiplied by 100.

(7) Include details of:

(a) any relevant agreement or other circumstances by which the relevant interest was acquired. 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.

(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) Details of the consideration must include any and all benefits, money and otherwise, 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.