OPENLEARNING LIMITED — Share Issue/Capital Change 2026

Jan 6, 2026

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Announcement Summary

Entity name

OPENLEARNING LIMITED

Date of this announcement

Wednesday January 07, 2026

The +securities the subject of this notification are:

+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
New class - code	Option Expiring 1-Jul-2030 Ex $0.05	1,000,000	14/10/2025
to be confirmed

Refer to next page for full details of the announcement

Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Appendix 3G - 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

OPENLEARNING 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 Registration number ACN 635890390

1.3 ASX issuer code

OLL

1.4 The announcement is

New announcement

1.5 Date of this announcement

7/1/2026

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+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:

does not have an existing ASX security code ("new class")

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Appendix 3G - Notification of issue, conversion or payment up of unquoted equity securities

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Part 3C - number and type of +securities the subject of this notification (new class)

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----- Start of picture text ----- ASX +security code +Security descriptionNew class - code to be confirmed Option Expiring 1-Jul-2030 Ex $0.05+Security type ISIN codeOptionsDate the +securities the subject of this notification were issued14/10/2025Will all the +securities issued in this class rank equally in all respects from their issue date?YesWere any of the +securities issued to +key management personnel (KMP) or an +associate?NoHave you received confirmation from ASX that the terms of the +securities are appropriate and equitable underlisting rule 6.1?NoPlease provide a URL link for a document lodged with ASX setting out the material terms of the +securities beingissued.https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02661129-6A1148151&v=undefined----- End of picture text -----

Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.05000000 1/7/2030

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

OLL : ORDINARY FULLY PAID

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://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02661129-6A1148151&v=undefined

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

OLLAAP : PERFORMANCE RIGHTS = 13,746,665 as per Appendix 3G issued immediately prior to this form.

Issue details

Number of +securities

1,000,000

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Appendix 3G - 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 notification, the +securities of the entity will comprise:

The figures in parts 4.1 and 4.2 below are automatically generated and may not reflect the entity's current issued capital if other Appendix 2A, Appendix 3G or Appendix 3H forms are currently with ASX for processing.

4.1 Quoted +securities (Total number of each +class of +securities issued and quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
OLL : ORDINARY FULLY PAID	782,006,466

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
OLLAAS : OPTION EXPIRING 17-DEC-2027 EX $0.05	5,000,000
OLLAAR : OPTION EXPIRING 02-JUL-2029 EX $0.05	1,000,000
OLLAAP : PERFORMANCE RIGHTS	11,746,665
OLLAAQ : OPTION EXPIRING 28-JUN-2029 EX $0.05	4,000,000
New class - code to be confirmed : Option Expiring 1-Jul-2030 Ex $0.05	1,000,000

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Appendix 3G - 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? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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