• 30,123,526 shares held by employees, including the Group Managing Director, will be released from voluntary escrow
• This will increase the company's free float to 72.4% of total issued capital
• The early release of shares was approved by the Board

Qualitas Limited (ASX: QAL) announced that the Board has approved the release of 30,123,526 fully paid ordinary shares from voluntary escrow. These shares were held by employees or their respective controlled entities, including the Group Managing Director and Co-Founder of Qualitas, Mr Andrew Schwartz. The released shares represent the remaining one third of their shareholding at the time of Qualitas' Initial Public Listing (IPO) on 16 December 2021. The other two thirds of their shareholding held at IPO were previously released from escrow on 19 August 2022 and 16 December 2023. The escrow restrictions on the released shares were originally due to end on 16 December 2026, but the Board has exercised its discretion to permit the early release. As a result, Qualitas will no longer have a relevant interest in its own shares and will not be listed as a substantial shareholder. When these changes take effect, Qualitas considers its Free Float to be 72.4% of total issued capital as at 29 July 2025, subject to no further changes to shares on issue, directors' and key management personnel's shareholding from the date of the announcement to 29 July 2025.