Seek limited issues unquoted securities to CEO Ian Narev

Seek Limited has notified the market of the issuance of several unquoted equity securities to key management personnel (KMP), including chief executive Ian Narev and Kendra Banks. The issuances, dated December 8, 2025, and October 29, 2025, involve a total of 225,680 WSP Options, 90,272 WSP Rights, and 1 Equity Right to Ian Narev. Kendra Banks received 10,127 Restricted Rights on December 8, 2025, and an additional 81,665 Restricted Rights on October 29, 2025.

These securities, issued under an employee incentive scheme, will rank equally from their issue date with existing issued securities in their respective classes. The WSP Options have an exercise price of $22.29, with an earliest exercise date of July 1, 2029, and an expiry date of June 30, 2035. Both WSP Options and WSP Rights are subject to a relative total shareholder return (TSR) performance hurdle over a three-year vesting period (July 1, 2025, to June 30, 2028), assessed against the S&P/ASX 100 index constituents. If vested, WSP Options will be subject to an exercise restriction until June 30, 2029, while WSP Rights will also have a restriction period until June 30, 2029.

The Equity Right issued to Ian Narev is a conditional right convertible to 53,753 ordinary shares upon vesting, subject to an employment condition and a 60-day VWAP calculation up to June 30, 2025. These shares will be subject to a disposal restriction until June 30, 2027. The Restricted Rights granted to Kendra Banks are subject to continued employment over a 12-month vesting period, converting into shares not subject to disposal restriction upon vesting. These issuances were made without security holder approval, utilizing the entity's 15% placement capacity, amounting to 1,848,246 securities.