Pilbara Minerals issues 131,313 new securities from performance rights

Pilbara Minerals Limited has applied for the quotation of 131,313 new ordinary fully paid securities (ASX: PLS), following the conversion of performance rights. The issue date for these new securities is October 7, 2025. These securities originate from two tranches of performance rights, with no cash consideration payable upon their vesting and exercise. The estimated value of the consideration provided per security is AUD0.000000.

The first tranche involved the conversion of 36,565 performance rights (ASX: PLSAT) expiring on December 31, 2026. The second tranche saw the conversion of 94,748 performance rights (ASX: PLSAAE) expiring on March 31, 2026. Both sets of performance rights were issued under the Company's "Pilbara Minerals Award Plan," which was approved by shareholders on November 23, 2023. Vesting was assessed against performance conditions for set targets over a three-year period ending June 30, 2025, for the first tranche, and against a service condition for the second.

Following this quotation, the total number of ordinary fully paid securities quoted on the ASX for Pilbara Minerals will increase to 3,219,441,647. The newly quoted securities will rank equally in all respects from their issue date with existing issued securities in that class.