Bluescope Steel converts unquoted securities to ordinary shares

Bluescope Steel Limited (ASX:BSL) has completed the conversion of 1,199,097 unquoted options and convertible securities into ordinary fully paid shares. This conversion, dated September 2, 2025, resulted in the issue of new securities under the ASX code BSL, bringing the total number of ordinary fully paid shares on issue to 438,609,849. The announcement, made on September 5, 2025, details that these securities were previously unquoted options or convertible securities that have now become quoted on ASX as existing class securities.

The conversion involved securities issued under various employee incentive schemes. Key management personnel and their associates were among those exercising options. Mark Vassella converted 143,415 securities, David Fallu 36,666, Tania Archibald 40,741, Kristie Keast 31,306, Qingfeng Zhang 36,594, and Robin Davies 26,554.

The allocated shares satisfy vesting and exercise of rights across several awards, including 1,015,266 shares under FY23 Alignment Rights, 80,000 under FY24 Talent Retention Rights, 39,999 under FY25 STI Share Rights, 30,329 under FY25 PSP Share Rights, and 33,503 under a Sign-On Equity Award. Following these transactions, the total number of unquoted BSLAB: RIGHTS securities on issue stands at 2,301,781.