Announcement PDF Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 1 / 6 Announcement Summary Entity name FBR LTD Announcement Type New announcement Date of this announcement 20/7/2026 The Proposed issue is: Total number of +securities proposed to be issued for a placement or other type of issue ASX +security code +Security description Maximum Number of +securities to be issued New class-code to be confirmed Convertible Notes 3,800,000 Proposed +issue date 20/7/2027 Refer to next page for full details of the announcement A placement or other type of issue Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 2 / 6 Part 1 - Entity and announcement details 1.1 Name of +Entity FBR LTD 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 ACN Registration Number 090000276 1.3 ASX issuer code FBR 1.4 The announcement is 1.5 Date of this announcement 20/7/2026 1.6 The Proposed issue is: A placement or other type of issue New announcement Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 3 / 6 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? 7A.1a Conditions Approval/Condition +Security holder approval Date for determination 20/7/2027 Is the date estimated or actual? ** Approval received/condition met? No Comments The issue of each tranche of convertible notes is subject to shareholder approval. Approval may be sought on more than one occasion due to the timing of different tranches and earlier than the specified date Part 7B - Issue details 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)? Will the proposed issue of this +security include an offer of attaching +securities? 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 ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1? Will the entity be seeking quotation of the 'new' class of +securities on ASX? ASX +security code New class-code to be confirmed +Security description Convertible Notes +Security type +Convertible debt securities No No No New class Estimated Yes Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 4 / 6 Number of +securities proposed to be issued 3,800,000 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? In what currency is the cash consideration being paid? AUD - Australian Dollar What is the issue price per +security? AUD 0.90000 Will all the +securities issued in this class rank equally in all respects from their issue date? +Convertible debt securities details These securities are: Convertible Type of security Convertible note or bond +Security currency AUD - Australian Dollar Face value AUD 1.0000 Interest rate type Zero coupon/no interest Frequency of coupon/interest payments per year No coupon/interest payments s128F of the Income Tax Assessment Act status applicable to the +security s128F exemption status unknown Is the +security perpetual (ie. no maturity date)? Maturity date 20/1/2029 Select other features applicable to the +security Is there a first trigger date on which a right of conversion, redemption, call or put can be exercised (whichever is first)? Details of the type of +security that will be issued if the securities are converted, transformed or exchanged FBR : ORDINARY FULLY PAID Number of +securities that will be issued if the +securities are converted, transformed or exchanged (including, if applicable, any interest) No Redeemable No Yes Yes Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 5 / 6 applicable, any interest) If all notes are converted at a price of 14 cents (calculated by reference to the VWAP at the time of announcement) then 27,142,857 shares (on a post-consolidation basis) would be issued 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. Refer to the ASX announcement dated 20 July 2026 Part 7C - Timetable 7C.1 Proposed +issue date 20/7/2027 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? 7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 20/7/2027 7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? 7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? 7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? Part 7E - Fees and expenses 7E.1 Will there be a lead manager or broker to the proposed issue? 7E.2 Is the proposed issue to be underwritten? 7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue Part 7F - Further Information 7F.01 The purpose(s) for which the entity is issuing the securities Funds raised for general working capital 7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No No No No No No Yes Appendix 3B - Proposed issue of securities Appendix 3B - Proposed issue of securities 6 / 6 7F.2 Any other information the entity wishes to provide about the proposed issue The number of securities issued on conversion of the notes is based on a variable as at the date of announcement (20 July 2026) and that may change at the time of issue