PHOSCO LTD — Share Issue/Capital Change 2026

Feb 25, 2026

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

==> picture [21 x 22] intentionally omitted <==

Announcement Summary

Entity name

PHOSCO LTD

Date of this announcement

Thursday February 26, 2026

The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and 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	Unlisted Options	10,000,000	26/02/2026
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

1 / 6

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

==> picture [21 x 22] intentionally omitted <==

Part 1 - Entity and announcement details

1.1 Name of entity

PHOSCO LTD

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 ABN 82139255771

1.3 ASX issuer code

PHO

1.4 The announcement is

New announcement

1.5 Date of this announcement

26/2/2026

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

2 / 6

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

==> picture [21 x 22] intentionally omitted <==

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Previous Appendix 3B details:

Announcement Date and	Announcement Title	Selected Appendix 3B to submit quotation
Time		request
18-Feb-2026 09:57	New - Proposed issue of securities -	A placement or other type of issue
	PHO

2.3a.2 Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B?

No

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

3 / 6

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

==> picture [21 x 22] intentionally omitted <==

Part 3A - number and type of +securities the subject of this notification (existing class or new class) where issue has previously been notified to ASX in an Appendix 3B

Placement Details

ASX +security code and description

new unquoted class of security

Date the +securities the subject of this notification were issued

26/2/2026 Any other information the entity wishes to provide about the +securities the subject of this notification

10,000,000 Unlisted Options issued to the Joint Lead Managers (JLM's) and/or their nominee(s), split equally between Argonaut and Cumulus, exercisable at $0.18 each, expiring 1 March 2028.

Issue details

Number of +securities 10,000,000 Were the +securities issued for a cash consideration? Yes In what currency was the cash consideration being What was the issue price per +security? paid? AUD - Australian Dollar AUD 0.00001000

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

4 / 6

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

==> picture [21 x 22] intentionally omitted <==

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

==> picture [495 x 225] intentionally omitted <==

----- Start of picture text -----

ASX +security code +Security description
New class - code to be confirmed Unlisted Options
+Security type ISIN code
Options
Date the +securities the subject of this notification were issued
26/2/2026
Will all the +securities issued in this class rank equally in all respects from their issue date?
Yes
Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under
listing rule 6.1?
No
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being
issued.
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03057833-3A687335&v=undefined
----- End of picture text -----

Options Details
+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.18000000	1/3/2028

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

PHO : ORDINARY FULLY PAID

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

Issue details

Number of +securities

10,000,000

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

5 / 6

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

==> picture [21 x 22] intentionally omitted <==

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
PHO : ORDINARY FULLY PAID	482,944,202
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
PHOAK : OPTION EXPIRING 07-MAY-2027 EX $0.05	29,451,441
PHOAC : PERFORMANCE RIGHTS	3,000,000
PHOAA : OPTION EXPIRING 31-JAN-2028 EX $0.05	150,000,000
New class - code to be confirmed : Unlisted Options	10,000,000

4.2 Unquoted +securities (Total number of each +class of +securities issued but not quoted on ASX)

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

6 / 6