SOUTHERN PALLADIUM LIMITED - Appendix 3Y Change of Directors Interest Notice: Roger Baxter

Appendix 3Y – Change of Director’s Interest Notice: Roger Baxter

Southern Palladium Limited
Incorporated in the Commonwealth of Australia
Australian Company Number 646 391 899
ASX share code: SPD
JSE share code: SDL
ISIN AU0000220808
("Southern Palladium" or "the Company")


Appendix 3Y – Change of Director's Interest Notice: Roger Baxter


Shareholders of Southern Palladium are advised that the Company has released an Appendix 3Y -
Change of Director's Interest Notice for Mr Roger Baxter, on the Australian Securities Exchange.

The Appendix is available on the Company's website,
https://www.southernpalladium.com/site/investor-centre/asx-announcements.

This very small purchase of shares took place inadvertently on the JSE during a Closed Period under
the Company's Securities Trading Policy.

Mr. Baxter placed orders to acquire shares on the JSE on 22 September 2025. Upon realising that he
was prohibited from acquiring shares during a Closed Period (relating to the release of the Company's
Financial Report for the Year Ended 30 June 2025) Mr Baxter attempted to cancel his orders and
believed that he had done so. Unfortunately two small trades took place as reported herein. Mr Baxter
believed that he had cancelled his purchase orders and the trades concerned took place
unintentionally. The Company has a Securities Trading Policy and systems in place to make Directors
aware of Closed Periods.

Authorised by the Company Secretary


For further information, please contact:

Johan Odendaal
Managing Director
Southern Palladium
Phone: +27 82 557 6088
Email: johan.odendaal@southernpalladium.com

26 September 2025

JSE Sponsor
Merchantec Capital

Media & investor relations inquiries: Sam Jacobs, Six Degrees Investor Relations: +61 423 755 909

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Date: 26-09-2025 09:50:00
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