PANTHER METALS LTD — Director's Dealing 2025

Dec 7, 2025

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity PANTHER METALS LTD ABN 27 614 676 578

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Ranko Matic
Date of last notice	22 October 2025

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving riseto the relevant interest.	A. Matic Capital Pty Ltd(formerly Consilium Corporate Advisory Pty Ltd)(director & shareholder)B. Cavalier Corporate Pty Ltd ATF<The Cavalier A/C>(director & beneficiary)C. Cataalna Pty Ltd ATF(director & beneficiary)D. MARS Kapital Pty Ltd(director & shareholder)
Date of change	3 December 2025 (expiry of performance rights)5 December 2025 (rights issue)

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

		No. of securities held prior to change	No. of securities held prior to change	No. of securities held prior to change	No. of securities held prior to change	A. 250,000 Listed Options (expiry 28 Apr 2026)1,500,000 Performance Rights (expiry 3 Dec 2025)B. 1,875,000 Fully Paid Ordinary Shares281,250 Unlisted Options (expiry 24 Sept 2027)C. 13,541,347 Fully Paid Ordinary Shares2,623,830 Listed Options (expiry 28 Apr 2026)2,395,712 Unlisted Options (expiry 24 Sept 2027)	A. 250,000 Listed Options (expiry 28 Apr 2026)1,500,000 Performance Rights (expiry 3 Dec 2025)B. 1,875,000 Fully Paid Ordinary Shares281,250 Unlisted Options (expiry 24 Sept 2027)C. 13,541,347 Fully Paid Ordinary Shares2,623,830 Listed Options (expiry 28 Apr 2026)2,395,712 Unlisted Options (expiry 24 Sept 2027)	A. 250,000 Listed Options (expiry 28 Apr 2026)1,500,000 Performance Rights (expiry 3 Dec 2025)B. 1,875,000 Fully Paid Ordinary Shares281,250 Unlisted Options (expiry 24 Sept 2027)C. 13,541,347 Fully Paid Ordinary Shares2,623,830 Listed Options (expiry 28 Apr 2026)2,395,712 Unlisted Options (expiry 24 Sept 2027)	A. 250,000 Listed Options (expiry 28 Apr 2026)1,500,000 Performance Rights (expiry 3 Dec 2025)B. 1,875,000 Fully Paid Ordinary Shares281,250 Unlisted Options (expiry 24 Sept 2027)C. 13,541,347 Fully Paid Ordinary Shares2,623,830 Listed Options (expiry 28 Apr 2026)2,395,712 Unlisted Options (expiry 24 Sept 2027)	A. 250,000 Listed Options (expiry 28 Apr 2026)1,500,000 Performance Rights (expiry 3 Dec 2025)B. 1,875,000 Fully Paid Ordinary Shares281,250 Unlisted Options (expiry 24 Sept 2027)C. 13,541,347 Fully Paid Ordinary Shares2,623,830 Listed Options (expiry 28 Apr 2026)2,395,712 Unlisted Options (expiry 24 Sept 2027)	A. 250,000 Listed Options (expiry 28 Apr 2026)1,500,000 Performance Rights (expiry 3 Dec 2025)B. 1,875,000 Fully Paid Ordinary Shares281,250 Unlisted Options (expiry 24 Sept 2027)C. 13,541,347 Fully Paid Ordinary Shares2,623,830 Listed Options (expiry 28 Apr 2026)2,395,712 Unlisted Options (expiry 24 Sept 2027)	A. 250,000 Listed Options (expiry 28 Apr 2026)1,500,000 Performance Rights (expiry 3 Dec 2025)B. 1,875,000 Fully Paid Ordinary Shares281,250 Unlisted Options (expiry 24 Sept 2027)C. 13,541,347 Fully Paid Ordinary Shares2,623,830 Listed Options (expiry 28 Apr 2026)2,395,712 Unlisted Options (expiry 24 Sept 2027)	A. 250,000 Listed Options (expiry 28 Apr 2026)1,500,000 Performance Rights (expiry 3 Dec 2025)B. 1,875,000 Fully Paid Ordinary Shares281,250 Unlisted Options (expiry 24 Sept 2027)C. 13,541,347 Fully Paid Ordinary Shares2,623,830 Listed Options (expiry 28 Apr 2026)2,395,712 Unlisted Options (expiry 24 Sept 2027)
						D. 3,225,000 Fully Paid Ordinary Shares3,225,000 Performance Rights (expiry 18 Dec 2029)
		Class				Fully Paid Ordinary SharesPerformance Rights (expiry 3 Dec 2025)
		Number acquired				B. 625,000 Fully Paid Ordinary SharesC. 4,513,783 Fully Paid Ordinary SharesD. 1,075,000 Fully Paid Ordinary Shares
		Number disposed				A. 1,500,000 Performance Rights (expiry 3 Dec 2025)
		Value/ConsiderationNote: If consideration is non-cash, provide details andestimated valuation				0.8 cents per share (rights issue)
		No. of securities held after change				A. 250,000 Listed Options (expiry 28 Apr 2026)
						B. 2,50281,C. 18,0	0,000 Ful250 Unlis55,130 Fu	y Paidted Optilly Paid	Ordinary Shons (expiryOrdinary S	ares24 Sept 20hares	27)
						2,622,39	3,830 List5,712 Unl	ed Optiisted O	ons (expiryptions (expi	28 Apr 202ry 24 Sept 2	6)027)c 2029)
						D. 4,303,22	0,000 Ful5,000 Per	y Paidformanc	Ordinary She Rights (ex	arespiry 18 De
		NExofrei	ature of changeample: on-market tradeoptions, issue of securitnvestment plan, partici	, off-market traies under dividepation in buy-ba	de, exercisendck	Lapse ofIssue of	performashares un	nce rigder righ	ts (upon exts issue	piry)

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Name of registered holder(if issued securities)	N/A
Date of change	N/A
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	No
If so, was prior written clearance provided to allow the tradeto proceed during this period?	N/A
If prior written clearance was provided, on what date was thisprovided?	N/A

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3