• Wellard to delist from ASX following sale of last revenue-generating asset
• Board proposes a further AU$0.015 per share capital return to shareholders
• Company to continue as unlisted public company to resolve Brett Cattle Class Action

Wellard Ltd has announced that it will hold its Annual General Meeting (AGM) on 14 November 2025, where shareholders will be asked to approve the delisting of the company from the ASX. This follows the sale of Wellard's last remaining revenue-generating asset, the M/V Ocean Drover, on 19 August 2025. With no new business opportunities, the Board believes there is insufficient benefit to remaining listed. Wellard will continue to operate as an unlisted public company, with a minimalist structure, to focus on resolving the Brett Cattle Class Action, in which it remains a claimant. The Board proposes a further capital return of AU$0.015 per share, which would bring the total capital returned to shareholders since December 2024 to approximately AU$98.3 million. Shareholders will be able to attend the AGM either in person or virtually via a live webcast, and will have the opportunity to vote, ask questions, and provide feedback. The Chairman has resolved to vote all undirected proxies in favor of all resolutions.

Wellard will continue as an unlisted public company to focus on resolving the Brett Cattle Class Action, which the Board expects to be brought to a successful conclusion within three years, either by commercial settlement or through the Federal Court of Australia.