Ann: Becoming a substantial holder, page-2

Now this is a little interesting. And while Mr Huang was a previous holder with 21,500,000 per the Annual Report Top 20 , he now seems to have bolted on another approximate 33,333,333 million. What interesting is that Mr Huang is a Corporate Finance Associate with GBA capital who seems to have a bit of talent at their firm ...., including and not limited to ex Geologist with Newcrest as well as Journalist with Fairfax Media. They also have depth institutional desks with experience from the likes of Morgan Stanley , Merrill Lynch , Virtu Financial , and Arquaam Capita.

be a substantial And while Tolga dropped 20 million in his holdings balance with the ' ceasing ' to be a substantial holder last month , I'm not sure as to why when he only held 4.77% at the time of the 2024 Annual Report and 5.72% in the 2023 Annual Report..... , but nothing whatsoever in-between either of those two reports from what I can see.

So he was already below the 5% threshold and didn't need to report this latest change.on 11th April 2025... , at.from what it looks like anyway.

In any case , its interesting to the firm that Mr Huang is tied to is potentially also keen on PEC.