TIVAN LIMITED — Capital/Financing Update 2025

Oct 19, 2025

Appendix 3B - Proposed issue of securities

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Announcement Summary

Entity name

TIVAN LIMITED

Announcement Type

New announcement

Date of this announcement

20/10/2025

The Proposed issue is:

A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
New class-code to be	Class E Performance Rights	3,000,000
confirmed
New class-code to be	Class F Performance Rights	2,000,000
confirmed
New class-code to be	Class G Performance Rights	2,000,000
confirmed
New class-code to be	Class H Performance Rights	2,000,000
confirmed

Proposed +issue date

2/12/2025

Refer to next page for full details of the announcement

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

TIVAN LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

ABN

Registration Number

12000817023

1.3 ASX issuer code

TVN

1.4 The announcement is

New announcement

1.5 Date of this announcement

20/10/2025

1.6 The Proposed issue is:

A placement or other type of issue

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis? Yes 7A.1a Conditions

Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? +Security holder approval 20/11/2025 Actual No

Comments

Part 7B - Issue details

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? New class

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

Have you received confirmation from Will the entity be seeking quotation ASX that the terms of the proposed of the 'new' class of +securities on +securities are appropriate and ASX? equitable under listing rule 6.1? No Yes ASX +security code +Security description New class-code to be confirmed Class E Performance Rights

+Security type

Performance options/rights

Number of +securities proposed to be issued

3,000,000

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Appendix 3B - Proposed issue of securities

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Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

Short term incentive securities to be issued to Executive Chairman. Vesting is conditional upon: (1) the maximum VWAP of Shares across any 20 sequential trading days between 1 January 2026 and 30 June 2026 (inclusive), rounded to the

nearest $0.001, is greater than $0.10; and (2) the holder remains in office on 1 July 2026.

The number of Shares issued on exercise of each STI Performance Right is calculated by using the following formula: TVN Share Price - $0.10

where the TVN Share Price is the maximum VWAP of Shares across any 20 sequential trading days between 1 January 2026 and 30 June 2026 (inclusive), rounded to the nearest $0.001, where each cent represents one Share. The TVN Share Price is capped at a maximum of $0.15. Therefore, the maximum number of Shares that may be issued on exercise of 3,000,000 STI Performance Rights is 15,000,000 Shares.

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

0.000001

Will all the +securities issued in this class rank equally in all respects from their issue date?

Yes

Performance options/rights details

+Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.0000 1/10/2026

Details of the type of +security that will be issued if the option is exercised TVN : ORDINARY FULLY PAID Number of securities that will be issued if the option is exercised Maximum 15,000,000

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? New class

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

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Appendix 3B - Proposed issue of securities

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Have you received confirmation from Will the entity be seeking quotation ASX that the terms of the proposed of the 'new' class of +securities on +securities are appropriate and ASX? equitable under listing rule 6.1? No Yes ASX +security code +Security description New class-code to be confirmed Class F Performance Rights +Security type Performance options/rights Number of +securities proposed to be issued 2,000,000 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

Long term incentive securities to be issued to Executive Chairman. Vesting is conditional upon: (1) the maximum VWAP of Shares across any 20 sequential trading days between 1 January 2027 and 30 June 2027 (inclusive), rounded to the nearest $0.001, is greater than $0.15; and (2) the holder remains in office on 1 July 2027.

The number of Shares issued on exercise of each Class F LTI Performance Right is calculating by using the following formula: TVN Share Price - $0.15

where the TVN Share Price is the maximum VWAP of Shares across any 20 sequential trading days between 1 January 2027 and 30 June 2027 (inclusive), rounded to the nearest $0.001, where each cent represents one Share. The TVN Share Price is capped at a maximum of $0.20. Therefore, the maximum number of Shares that may be issued on exercise of 2,000,000 Class F LTI Performance Rights is 10,000,000 Shares. Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

0.000001

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Performance options/rights details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.0000 1/10/2027 Details of the type of +security that will be issued if the option is exercised TVN : ORDINARY FULLY PAID Number of securities that will be issued if the option is exercised Maximum 10,000,000 Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

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Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? New class

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

Have you received confirmation from Will the entity be seeking quotation ASX that the terms of the proposed of the 'new' class of +securities on +securities are appropriate and ASX? equitable under listing rule 6.1? No Yes ASX +security code +Security description New class-code to be confirmed Class G Performance Rights

+Security type

Performance options/rights

Number of +securities proposed to be issued

2,000,000

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

Long term incentive securities to be issued to Executive Chairman. Vesting is conditional upon: (1) the maximum VWAP of Shares across any 20 sequential trading days between 1 January 2028 and 30 June 2028 (inclusive), rounded to the nearest $0.001, is greater than $0.20; and (2) the holder remains in office on 1 July 2028. The number of Shares issued on exercise of each Class G LTI Performance Right is calculating by using the following formula: TVN Share Price - $0.20 where the TVN Share Price is the maximum VWAP of Shares across any 20 sequential trading days between 1 January 2028 and 30 June 2028 (inclusive), rounded to the nearest $0.001, where each cent represents one Share. The TVN Share Price is capped at a maximum of $0.25. Therefore, the maximum number of Shares that may be issued on exercise of 2,000,000 Class G LTI Performance Rights is 10,000,000 Shares. Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

0.000001 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

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Appendix 3B - Proposed issue of securities

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Performance options/rights details

+Security currency AUD - Australian Dollar

Exercise price Expiry date AUD 0.0000 1/10/2028

Details of the type of +security that will be issued if the option is exercised

TVN : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised

Maximum 10,000,000

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? New class

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

Have you received confirmation from Will the entity be seeking quotation ASX that the terms of the proposed of the 'new' class of +securities on +securities are appropriate and ASX? equitable under listing rule 6.1? No Yes ASX +security code +Security description New class-code to be confirmed Class H Performance Rights

+Security type

Performance options/rights

Number of +securities proposed to be issued

2,000,000

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

Long term incentive securities to be issued to Executive Chairman. Vesting is conditional upon: (1) the maximum VWAP of Shares across any 20 sequential trading days between 1 January 2029 and 30 June 2029 (inclusive), rounded to the nearest $0.001, is greater than $0.25; and (2) the holder remains in office on 1 July 2029.

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

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The number of Shares issued on exercise of each Class H LTI Performance Right is calculating by using the following formula:

TVN Share Price - $0.25

where the TVN Share Price is the maximum VWAP of Shares across any 20 sequential trading days between 1 January 2029 and 30 June 2029 (inclusive), rounded to the nearest $0.001, where each cent represents one Share. The TVN Share Price is capped at a maximum of $0.30. Therefore, the maximum number of Shares that may be issued on exercise of 2,000,000 Class H LTI Performance Rights is 10,000,000 Shares.

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 0.000001

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Performance options/rights details

+Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.0000 1/10/2029 Details of the type of +security that will be issued if the option is exercised TVN : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised

Maximum 10,000,000

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

Part 7C - Timetable

7C.1 Proposed +issue date

2/12/2025

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? Yes

7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

20/11/2025

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Yes

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

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Appendix 3B - Proposed issue of securities

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7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? No 7E.2 Is the proposed issue to be underwritten? No 7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue None Part 7F - Further Information 7F.01 The purpose(s) for which the entity is issuing the securities Short-term and long-term incentive securities to be issued to the Executive Chairman. 7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No 7F.2 Any other information the entity wishes to provide about the proposed issue

Appendix 3B - Proposed issue of securities

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