TIVAN LIMITED — Major Shareholding Notification 2025

May 15, 2025

604 page 1/2 15 July 2001

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

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Form 604 Corporations Act 2001 Section 671B Notice of change of interests of substantial holder
To:Company Name/Scheme TIVAN LIMITED ACN/ARSN 12 000 817 023 1. Details of substantial holder (1) Name Sparta Invest AG, Heidelberg, Germany Deutsche Balaton Aktiengesellschaft, Heidelberg, Germany VV Beteiligungen Aktiengesellschaft, Heidelberg, Germany
	To:Company Name/Scheme ACN/ARSN 1. Details of substantial holder (1) Name					TIVAN LIMITED
						12 000 817 023
						Sparta Invest AG, Heidelberg, Germany Deutsche Balaton Aktiengesellschaft, Heidelberg, Germany VV Beteiligungen Aktiengesellschaft, Heidelberg, Germany
	DELPHI Unternehmensberatung Aktiengesellschaft, Heidelberg, Germany Wilhelm K.T. Zours, Heidelberg, Germany ACN/ARSN (if applicable) There was a change in the interests of the substantial holder on 14 / 05 / 25 The previous notice was given to the company on 02 / 10 / 24 The previous notice was dated 02 / 10 / 24 2. Previous and present voting power The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company of scheme, are as follows: Class of securities (4) Previousnotice Presentnotice Person’svotes Voting power(5) Person’svotes Voting power(5) Fully paid ordinary shares 165,577,124 9.39% 172,958,076 8.36% 3. Changes in relevant interests Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme as follows: Date of change Person whose relevant interest changed Nature of change (6) Consideration given in relation to change (7) Class and number of securities affected Person’s votes affected 19 February 2025 Deutsche Balaton Aktiengesellschaft Placement $ 0.1050 per share ordinary shares, 7,380,952 7,380,952 14 May 2025 Sparta Invest AG, Deutsche Balaton Aktiengesellschaft, DELPHI Unternehmensberatung Aktiengesellschaft Dilution from issuance of new shares n/a n/a n/a 4. Present relevant interest Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows: Holder of relevant interest Registered holder of securities Person entitled to be registered as holder (8) Nature of relevant interest (6) Class and number of securities Person’s votes					DELPHI Unternehmensberatung Aktiengesellschaft, Heidelberg, Germany Wilhelm K.T. Zours, Heidelberg, Germany
		Date of change	Person whose relevant interest changed				Nature of change (6)		Consideration given in relation to change (7)		Class and number of securities affected		Person’s votes affected
		19 February 2025	Deutsche Balaton Aktiengesellschaft				Placement		$ 0.1050 per share		ordinary shares, 7,380,952		7,380,952
		14 May 2025	Sparta Invest AG, Deutsche Balaton Aktiengesellschaft, DELPHI Unternehmensberatung Aktiengesellschaft				Dilution from issuance of new shares		n/a		n/a		n/a
		Holder of relevant interest		Registered holder of securities				Person entitled to be registered as holder (8)		Nature of relevant interest (6)		Class and number of securities		Person’s votes

Sparta Invest AG	Sparta Invest AG		Has a relevant interest under section 608(1)(a) of the Corporations Act as the registered holder	Ordinary Shares, 76,568,094	76,568,094
Deutsche Balaton Aktiengesellschaft	Sparta Invest AG, Deutsche Balaton Aktiengesellschaft		Has a relevant interest under section 608(1)(a) of the Corporations Act as the registered holder. Has a relevant interest under section 608(3)(b) of the Corporations Act as the major shareholder of Sparta Invest AG	Ordinary Shares, 120,271,158	120,271,158
VV Beteiligungen Aktiengesellschaft	Sparta Invest AG, Deutsche Balaton Aktiengesellschaft		Has a relevant interest under section 608(3)(b) of the Corporations Act as the major shareholder of Deutsche Balaton Aktiengesellschaft	Ordinary Shares, 120,271,158	120,271,158
DELPHI Unternehmensberatung Aktiengesellschaft	Sparta Invest AG, Deutsche Balaton Aktiengesellschaft, DELPHI Unternehmensberatung Aktiengesellschaft		Has a relevant interest under section 608(1)(a) of the Corporations Act as the registered holder. Has a relevant interest under section 608(3)(b) of the Corporations Act as the holding company of VV Beteiligungen Aktiengesellschaft.	Ordinary Shares, 172,958,076	172,958,076
Wilhelm K.T. Zours	Sparta Invest AG, Deutsche Balaton Aktiengesellschaft, DELPHI Unternehmensberatung Aktiengesellschaft		Has a relevant interest under section 608(3)(b) of the Corporations Act as the major shareholder of DELPHI Unternehmensberatung Aktiengesellschaft	Ordinary Shares, 172,958,076	172,958,076

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable) Nature of association

6. Addresses

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

Name	Address
Sparta Invest AG	Ziegelhaeuser Landstrasse 3, 69120 Heidelberg, Germany
Deutsche Balaton Aktiengesellschaft	Ziegelhaeuser Landstrasse 3, 69120 Heidelberg, Germany
VV Beteiligungen Aktiengesellschaft	Ziegelhaeuser Landstrasse 3, 69120 Heidelberg, Germany
DELPHI Unternehmensberatung Aktiengesellschaft	Ziegelhaeuser Landstrasse 3, 69120 Heidelberg, Germany
Wilhelm K.T. Zours	69120 Heidelberg, Germany

Signature

print name	Alexander Link	capacity	Member	Management	Board
sign here		date	14	/ 05	/	25

DIRECTIONS

(1) If there are a number of substantial holders with similar or related relevant issues (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 6 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 person’s votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (6) 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, 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.

• (7) Details of the consideration must include any and all benefits, money and other, 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.

• (8) If the substantial holder in unable to determine the identity of the person (eg. If the relevant interest arises because of an option) write “unknown”.

• (9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.