Non-Executive Director David Brown sold 1m shares, 10.84% of his 9.2m share holdings in XRF between 2 and 8 Sept 2025. This reduces his ownership in XRF by 0.71% from 6.56% to 5.85%

• Sale for financial diversification as the vast majority of his investments are in XRF shares
• Does not currently have a plan to conduct any further share sales

No huge concern for me. Caused a dip in the XRF price after the recent post-earnings rise, but these dips are fairly normal for XRF.

Mr David Brown (non-executive director)

David has over 40 years of experience in the research, development and manufacturing of X-ray flux chemicals. He pioneered the commercial development of X-ray fluxes in Australia and was responsible for the commercialisation of current formulae now used by most Australian X-ray flux users. David was previously Chief Chemist for the Swan Brewery Co. Ltd, where he carried out research involving the separation of proteins by gel electrophoresis, a technique that has subsequently progressed to the modern techniques of DNA separation and profiling. David holds B.Sc. and B.Ec degrees from the University of Western Australia and has held the position of Chairman of the Scientific Industries Council of WA.

Discl: Held IRL and in SM