Pilbara Minerals expands shares through performance rights conversion

Pilbara Minerals Limited has announced an application for the quotation of 55,819 new fully paid ordinary shares, following the exercise of performance rights. These securities were issued on November 18, 2025, and are expected to rank equally with existing issued securities. The conversion stems from performance rights that expired on December 31, 2025.

The performance rights were issued under the company's "Pilbara Minerals Award Plan," approved by shareholders on November 23, 2023. This plan included vesting conditions assessed against set targets over a three-year vesting period ending on June 30, 2024. No cash consideration was payable upon the vesting and exercise of these performance rights.

Following this quotation, Pilbara Minerals' total quoted ordinary fully paid shares will increase to 3,219,659,436. Additionally, the number of unquoted performance rights expiring on December 31, 2025, will reduce to zero, reflecting the full conversion of this specific class of convertible securities.