JANUS ELECTRIC HOLDINGS LIMITED

ASX:JNSUtilities

184.6M shares on issueASX (delayed) · snapshot 28 Oct 2026212.0M fully diluted+14.8% if every option and right converts$0.56price · delayed$108.9MMarket capAt the previous close. On a day the price moves, shares × today’s price will differ. Prices delayed.

Today’s holders own 87.1% of what they think they own, once every option and right converts.

Very high

Dilution riskprovisional — limited history

Runway under 2 quarters; share count grew 250% in 24 months; 14 cash raises in 24 months; since relisting as JNS; prior history under RNE not included

Absolute levels — not a ranking against other companies.

Cash runway1.2 quarters of funding

Share-count growth (24m)250.5%since relisting as JNS; prior history under RNE not included

Raise cadence (24m)14 cash raisessince relisting as JNS; prior history under RNE not included

Options & rights overhang14.8% of shares

In-the-money supply7.2% of shares

Pending proposed issuesopen proposed issue (Appendix 3B)

JANUS ELECTRIC HOLDINGS LIMITED, which was renamed from RNE and has traded as JNS only since May 2025, reported a 250.5% increase in its ordinary share count between May 2025 and October 2026, its latest share-count filing, to 185M shares. All figures cover only the period since the rename. In the past 24 months the company completed 14 capital raises totalling A$45.2M, most recently a A$2.0M placement in October 2026. Options and rights on issue could convert into 27M new shares, equal to 14.8% of the current share count, of which 7% are in the money; the nearest expiry is May 2027. The company has under 2 quarters of funding at the recent spend rate. One proposed securities issue is pending, with an expected issue date in October 2026.

AI-generated summary of this page's cited filings · updated 28 Oct 2026

Quick answers · 3

Is JNS raising capital?

Janus Electric Holdings has 1 proposed issue of securities pending under Appendix 3B as at 28 Oct 2026; the most recent raise announced is Placement of $2.0M on 28 Oct 2026.

How much cash does JNS have?

In its quarterly cash report for the quarter ended 30 June 2026, Janus Electric Holdings reported $2.0M of cash and estimated 0.7 quarters of funding available at its current rate of spending. That is the company's own estimate.

When do JNS's options expire?

Unexercised options and rights equal 14.8% of Janus Electric Holdings's shares on issue; the nearest expiry is May 2027.

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14.8%

Options & rights overhang

7.2%

In the moneyAn option whose exercise price is below the last closing share price, so converting it pays. These are the options most likely to become new shares soon. supply · most strikes not on record

Raises · last 12 months

1.2 qtrs

Cash cover · under 2 quarters

Shares on issue — last 2 years

Ordinary shares on issue

Weekly counts from ASX records. Dots mark cash capital raises. Shown since relisting as JNS (12 May 2025); prior history under RNE is not included. Latest count 184.6M per ASX (delayed) (snapshot 28 Oct 2026).

Cash runway

1.2 qtrs OURS

Less than two quarters of funding at the recent spend rate — near-term funding pressure.

Funds operations to about Feb 2027 at the reported spend rate.

Adds the $7.7M raise announced 24 July 2026 (filing).

FILED 0.7 qtrs · $2.0M cash · quarter ended 30 June 2026 · before the raise above came in

OURS our estimate, carried to todayOURSOur estimate for today. We take the cash in the company’s latest cash report, deduct spending since at its reported rate, and, for quarterly filers, add raises announced after it. It moves daily; announced money may not all be received yet.$2.0M cash at 30 Jun 2026 + $7.7M announced raises + $1.9M grant or R&D refund due − $6.1M spent ($4.6M a quarter × 120 days) = $5.5M left → 1.2 qtrsFILED as the company reportedFILEDAs the company stated it in its latest cash report. Dated to the end of that period, it does not change until the next report.

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5 cash reports on record — Cash runway history

Cash, net spend and cover trend from every Appendix 4C/5B and 4D/4E on record up to 30 June 2026.

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Issuance timeline

Latest 5 filings (Appendix 2AThe form a company lodges to have new securities quoted on the ASX. It restates how many of each class are on issue. quoted issues, 3G unquoted, 3H cancellations)

Date	Form	Security	On issue, per this filing	Source
12 Oct 2026	2A · quoted issue	JNS : ORDINARY FULLY PAID	166.2M	Appendix 2A
2 Oct 2026	2A · quoted issue	JNS : ORDINARY FULLY PAID	165.7M	Appendix 2A
2 Sept 2026	3H · cancellation	JNS : ORDINARY FULLY PAID	164.1M	Appendix 3H
27 Aug 2026	2A · quoted issue	JNS : ORDINARY FULLY PAID	164.1M	Appendix 2A
30 July 2026	2A · quoted issue	JNS : ORDINARY FULLY PAID	160.9M	Appendix 2A

Each filing states the count for the security it names, as at its own reference date and in the units of that filing — so the newest row (166.2M) need not equal the current count above (184.6M).

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34 filings on record — Full issuance history

Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).

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Securities on issue over time

Ordinary shares and every option and rights class, month by month over two years. The top edge is the fully diluted count.

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Securities on issue, by class

How the share count and each option and rights class moved, month by month, with every number in a table.

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Capital raises

13 cash raises in the last 24 months · 6 in the last 12 months · counted since relisting as JNS (12 May 2025); prior history under RNE is not included

every 2.1 monthsaverage gap between raises

0 monthssince the most recent

29 Jan 2025 – 28 Oct 2026first to most recent in this window

$2.0M

Placement

At 48.5c, 17.8% below the last close

28 Oct 2026 ACTIVE

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19 issues (incl. 1 exercise or conversion) on record — Full raise history

Issue price, shares issued, brokers and stated purpose for every raise on record.

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Forward supply

Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.

2.9M of option supply could convert within 12 months — 1.6% of shares on issue

2.9M in the money, expiring in the window

1 proposed issue (Appendix 3B) also pending — not counted above; the securities each would add are in the calendar below.

Out-of-the-money options are excluded — at today’s price they expire rather than convert. So is condition-triggered supply, which has no expiry and no price, and convertibles that convert on their own terms rather than on a date.

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11 dated events on record — Forward supply calendar

Option expiries and proposed issues on one forward timeline, with the securities each could add.

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Placement capacity

How much stock a company can place without asking holders. Listing Rule 7.1 / 7.1ARule 7.1 lets a company issue up to 15% of its shares in 12 months without a shareholder vote. Rule 7.1A adds 10% for smaller companies whose holders approve it. allows 15% of ordinary securities in any 12 months, and every Appendix 3BNotice that a company proposes to issue new securities, such as a placement. The securities are not on issue until a later filing confirms it. states how much of it an issue uses.

No estimate — the filings already exceed 15% of the share count we can measure, which means securities were added to the base during the year, or holders ratified an issue, in a way we cannot match. The company has also placed under the additional 10% (Listing Rule 7.1A), which is not counted in this figure.

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Placement capacity — LR 7.1 / 7.1A

The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.

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Pending proposed issues

1 proposed issue pending — Appendix 3B lodged, securities not yet issued. New shares from these issues are not in the counts above until quoted.

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1 pending issue on record — Pending issue detail

Size, price, fees, broker and placement-capacity usage for each pending issue.

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Options & convertible securities

14.8%

Options & rights overhang · of current shares

7.2%

In-the-money supply · most strikes not on record

27.4M

Potential new shares

May 2027

Nearest expiry

What this supply is, and what converts it

Price-triggered23.1M · 12.5% of shares
Options and warrants — they convert when the share price clears their exercise price.
At least 9.8M of it states no exercise price — that much cannot be called in or out of the money.
Condition-triggered4.3M · 2.3% of shares
Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.

Exercise price on record: 13.4M priced (of which 13.4M in the money), 14.0M where the filing never states one. A security with no exercise price is never counted in the money — nothing is paid to convert it, so there is no price for it to be above.

Each figure is the filing’s own count of securities, not a share count — a 2A never states what one security converts into.

What a price move would switch on

At $0.56 today, 13.4M securities are in the money (7.2% of shares on issue) — a floor, because an exercise price is on record for only 48.8% of this supply. No price up to ten times today’s switches on any more priced supply.

Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
14.0M (51.2% of the supply above) states no exercise price at all. It cannot be called in or out of the money at any price, which is why it is hatched rather than plotted.

Code	Security	Type	Exercise price	Expiry	On issue	Source
JNSAP	Options	Price-triggered, no exercise price stated	—	14 May 2027	833k	Filing
JNSAO	Options	Price-triggered	$0.30	14 May 2027	1.4M	Filing
JNSAN	Options	Price-triggered	$0.30	14 May 2027	1.5M	Filing
JNSAQ	Options	Price-triggered, no exercise price stated	—	14 May 2028	400k	Filing
JNSAR	Options	Price-triggered, no exercise price stated	—	14 May 2028	5.0M	Filing
JNSAT	Options	Price-triggered	$0.20	10 Apr 2029	285k	Filing
JNSAU	Options	Price-triggered	$0.30	10 Apr 2029	1.0M	Filing
JNSAV	Options	Price-triggered	$0.30	1 July 2029	820k	Filing
JNSAX	Options	Price-triggered	$0.18	1 July 2031	5.3M	Filing
JNSAY	Options	Price-triggered	$0.18	6 July 2031	3.0M	Filing
JNSAS	Options	Price-triggered, no exercise price stated	—	—	3.5M	Filing
JNSAW	Performance rights	Condition-triggered	—	—	4.3M	Filing Meeting

“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column. For what expires soon across other listed companies, see the options expiry calendar.

A condition-triggered class has no exercise price and usually no expiry: what it vests on is set by a shareholder resolution, not by the register. Where the company lodged a notice of meeting before the class first appears here, it is linked as “Meeting” — that is where terms of this kind are put to shareholders. It is not confirmation that the document sets this class’s conditions, and no link appears where there is no such filing.

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12 option lines on record — In-the-money value & price ladder

What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.

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