STEPCHANGE HOLDINGS LIMITED

ASX:STHSoftware & Services

164.4M shares on issueASX (delayed) · snapshot 11 Sept 2026169.9M fully diluted+3.3% if every option and right converts$0.12price · delayed$19.7Mmarket cap · indicative

Today’s holders own 96.8% of what they think they own, once every option and right converts.

Minimal

Dilution riskprovisional — limited history

No issuance filings since 2024; no dilution pressure signals in current disclosures

Absolute levels — not a ranking against other companies.

Cash runwayno data — not a quarterly (4C/5B) cash filer

Share-count growth (24m)0.0%no issuance filings since 2024; measured to the latest Appendix 2A, not to the share count above

Raise cadence (24m)0 cash raisesexcludes announced events with no matching share-issuance (Appendix 2A) filing

Options & rights overhang3.3% of shares

In-the-money supply0.0% of shares

Pending proposed issuesnone

STEPCHANGE HOLDINGS LIMITED has a current ordinary share count of 164M as of August 2026. No new share-issuance filings have been lodged since January 2024, therefore growth in the share count over the 24-month window is not stated. The company has not undertaken any capital raises in the past 24 months and has no pending proposed securities issues. Options and rights on issue could convert into 6M new shares, representing 3.3% of the current share count, with the nearest expiry in October 2029; none of these options are currently in the money. The company does not have a current quarterly cash report on record, so no cash balance or funding runway figure is disclosed on that basis.

AI-generated summary of this page's cited filings · updated 1 Sept 2026

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3.3%

Options & rights overhang

0.0%

In-the-money supply

Raises · last 12 months

—

Cash cover · not a quarterly filer

Shares on issue — last 2 years

Ordinary shares on issue

Weekly counts from ASX records. Dots mark cash capital raises. Latest count 164.4M per ASX (delayed) (snapshot 11 Sept 2026).

Cash runway

Not a quarterly cash filer. This company does not lodge Appendix 4C/5B quarterly cash reports, so cash runway does not apply.

Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

Date	Form	Security	On issue, per this filing	Source
6 Aug 2026	3H · cancellation	STH : ORDINARY FULLY PAID	164.4M	Appendix 3H
7 July 2026	3G · unquoted	STH : ORDINARY FULLY PAID	164.6M	Appendix 3G
3 July 2026	3H · cancellation	STH : ORDINARY FULLY PAID	164.6M	Appendix 3H
3 June 2026	3H · cancellation	STH : ORDINARY FULLY PAID	165.0M	Appendix 3H
4 May 2026	3H · cancellation	STH : ORDINARY FULLY PAID	165.3M	Appendix 3H

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9 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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Capital raises

No equity raises in the last 24 months.

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2 raises 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.

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2 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 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.

About 38% of the 15% placement capacity left — about 62% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). Holder-approved issues and any later ratification are not deducted, so the true headroom can be higher.

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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

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

3.3%

Options & rights overhang · of current shares

0.0%

In-the-money supply · at current price

5.5M

Potential new shares

Oct 2029

Nearest expiry

What a price move would switch on

At $0.12 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 3× today’s price, which takes it to 5.5M (3.3% of shares).

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.

Code	Security	Type	Exercise price	Expiry	On issue	Source
STHAA	Options	Price-triggered	$0.29	31 Oct 2029	4.0M	Filing
STHAB	Options	Price-triggered	$0.29	31 Oct 2030	1.5M	Filing

“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.

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2 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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