Citigroup's stake in Vulcan Energy declines after securities lending changes

Citigroup Global Markets Australia Pty Limited and its related bodies corporate have notified a change in their substantial holding in Vulcan Energy Resources Limited. The previous notice, dated November 11, 2025, showed a voting power of 6.7224% with 15,759,260 votes. The present notice indicates a reduced voting power of 5.3233%, corresponding to 12,479,351 votes.

The change in relevant interests primarily involved Citibank, N.A. Sydney Branch decreasing its holdings by 2,700 ordinary fully paid shares and Citigroup Global Markets Limited decreasing its holdings by 3,421,856 ordinary fully paid shares. These changes relate to securities lending agreements, where Citibank acts as an agent lender and Citigroup Global Markets Limited holds a relevant interest subject to an obligation to return shares.

Conversely, Citigroup Global Markets Australia Pty Limited increased its relevant interest by 144,647 ordinary fully paid shares through contracts entered into under securities lending agreements and ordinary course of business transactions on a stock exchange. The net effect is a reduction in Citigroup's overall stake in Vulcan Energy Resources Limited.