APA Group director Adam Watson shuffles stapled securities to investment vehicle

Adam Watson, a director at APA Group, completed an off-market transfer of 86,767 ordinary stapled securities on September 15, 2025. These securities, valued at A$8.88 per stapled security, were moved from Watson's direct holdings to Baker Watson Investments Pty Ltd.

Prior to this change, Watson directly held 86,767 ordinary stapled securities and 632,458 performance rights. His indirect holdings included 115,974 ordinary stapled securities via Baker Watson Investments Pty Ltd and 17,000 via Baker Watson Holdings Pty Ltd.

Following the transfer, Watson's direct holdings now show nil ordinary stapled securities, maintaining 632,458 performance rights. His indirect interest through Baker Watson Investments Pty Ltd has increased to 202,741 ordinary stapled securities, while Baker Watson Holdings Pty Ltd continues to hold 17,000 ordinary stapled securities. The transaction was an off-market transfer from Adam Watson to Baker Watson Investments Pty Ltd, with no securities acquired or disposed of in the market.

The change in interest did not occur during a closed period, and therefore, no prior written clearance was required for the transaction. The notice details the nature of the change as an off-market transfer, effectively consolidating a portion of Watson's individual holdings into a corporate investment vehicle.