Announcement PDF Date: 18/12/2023 To: Company: Fax number: Company Announcements Office Australian Stock Exchange +61 2 9347 0005 From: Contact number: Pgs (inc cover): Steven Johnson 02 8277 4812 3 FORM 604 - NOTICE OF CHANGE OF INTERESTS OF SUBSTANTIAL HOLDER We attach a change of interests of substantial holder notice with regards to our interest in shares in Verbrec Limited (VBC). Steven Johnson Director Forager Funds Management Level 11, 10 Carrington St Sydney, NSW, 2000 P: +61 (0) 2 8277 4812 W foragerfunds.com Form 604 Corporations Act 2001 Section 671B NOTICE OF CHANGE OF INTERESTS OF SUBSTANTIAL HOLDER To Verbrec Limited (ASX Code: VBC) ACN/ARSN 127 897 689 1. Details of substantial holder (1) Name Forager Funds Management Pty Ltd ABN 78 138 351 345 There was a change in the interests of the substantial holder on The previous notice was dated 18 / 12 / 2023 26 / 02 / 2020 The holder became a substantial holder on 04 / 06 / 2015 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 relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows: Class of securities (4) Previous notice Present notice Person's votes Voting power (5) Person's votes Voting power (5) Ordinary Shares 14,293,724 7.11% 15,773,724 5.49% 3. Details 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 are as follows: Person whose relevant interest changed Forager Funds Management Pty Ltd Nature of change (6) Date Consideration given in relation to change (7) Class and number of securities affected (ordinary shares) Person's votes affected On-market sale 30-Nov-23 8,481 100,000 100,000 23-Apr-21 225,000 1,250,000 1,250,000 10-Mar-20 19,495 120,000 120,000 09-Mar-20 32,130 201,000 201,000 02-Mar-20 8,348 9,000 9,000 On-market purchase 4. Present relevant interests Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows: Holder of Registered holder of Person entitled to Nature of relevant Class and relevant interest securities be registered as interest (6) number of holder (8) securities Forager Funds JP Morgan Nominees The Trust Company Power to (or to control) 15,773,724 Management Pty Australia Limited as (RE Services) exercise vote on ordinary Ltd custodian of the Forager Limited as 15,773,724 fully paid shares Australian Shares Fund responsible entity ordinary shares and/or ARSN 139 641 491 of the Forager dispose of the securities Australian Shares as investment manager Fund ARSN 139 641 of the Forager 491 Australian Shares Fund 5. Changes in association Person's votes 5.49% The person 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/ASRN (if applicable) Name of association 6. Addresses The addresses of persons named on this form are as follows: Name Address Verbrec Limited Level 14, 200 Mary Street, Brisbane, QLD, Australia, 4000 Forager Funds Management Pty Ltd Level 11, 10 Carrington St, Sydney, NSW, Australia, 2000 The Trust Company (RE Services) Limited Angel Place, 123 Pitt Street, Sydney, NSW, Australia Signature Print name: Steven Johnson Capacity: Director Signature: Date: 18/12/2023 DIRECTIONS (1) If there are a number of substantial holders with similar or related relevant interests (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 because of which the change in relevant interest occurred. 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, or influence 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 is 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.