Announcement PDF 1 Form 604 Corporations Act 2001 Section 671B Notice of change of interests of substantial holder To Company Name/Scheme FIREBIRD METALS LIMITED ACN/ARSN 610 035 535 1. Details of substantial holder (1) Name Morgan Stanley and its subsidiaries listed in Annexure A ACN/ARSN (if applicable) Not Applicable There was a change in the interests of the substantial holder on January 27, 2026 The previous notice was given to the company on October 28, 2025 The previous notice was dated October 23, 2025 The holder became aware on January 29, 2026 2. Previous and present voting power The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows: Class of securities (4) Previous notice Present notice Person’s votes Voting power (5) Person’s votes Voting power (5) Ordinary Shares 8,240,454 5.03% 11,673,489 6.40% Based on 163,694,734 Ordinary Shares Outstanding Based on 182,361,401 Ordinary Shares Outstanding 3. Changes in relevant interests Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows: Date of change Person whose relevant interest changed Nature of change (6) Consideration given in relation to change (7) Class and number of Securities affected Person’s votes affected 10/24/2025 Morgan Stanley Australia Securities Limited Buy 165.00 1,000 Ordinary Shares 1,000 10/30/2025 Morgan Stanley Australia Securities Limited Buy 9,447.60 62,984 Ordinary Shares 62,984 10/30/2025 Morgan Stanley Australia Securities Limited Buy 811.13 5,594 Ordinary Shares 5,594 10/30/2025 Morgan Stanley Australia Securities Limited Buy 5,748.96 38,976 Ordinary Shares 38,976 10/31/2025 Morgan Stanley Australia Securities Limited Buy 4,986.38 35,617 Ordinary Shares 35,617 10/31/2025 Morgan Stanley Australia Securities Limited Buy 254.36 1,785 Ordinary Shares 1,785 10/31/2025 Morgan Stanley Australia Securities Limited Buy 9,076.71 62,598 Ordinary Shares 62,598 11/12/2025 Morgan Stanley Australia Securities Limited Buy 10,636.31 83,422 Ordinary Shares 83,422 11/12/2025 Morgan Stanley Australia Securities Limited Buy 1,756.63 14,053 Ordinary Shares 14,053 11/12/2025 Morgan Stanley Australia Securities Limited Buy 32,065.41 246,657 Ordinary Shares 246,657 11/12/2025 Morgan Stanley Australia Securities Limited Buy 429.00 3,300 Ordinary Shares 3,300 11/13/2025 Morgan Stanley Australia Securities Limited Buy 7,105.05 52,630 Ordinary Shares 52,630 11/13/2025 Morgan Stanley Australia Securities Limited Buy 675.00 5,000 Ordinary Shares 5,000 11/13/2025 Morgan Stanley Australia Securities Limited Buy 5,508.10 42,370 Ordinary Shares 42,370 12/16/2025 Morgan Stanley Australia Securities Limited Buy 9,421.94 64,914 Ordinary Shares 64,914 12/16/2025 Morgan Stanley Australia Securities Limited Buy 4,230.69 29,148 Ordinary Shares 29,148 12/16/2025 Morgan Stanley Australia Securities Limited Buy 2,323.77 16,010 Ordinary Shares 16,010 12/17/2025 Morgan Stanley Australia Securities Limited Buy 5,920.38 40,959 Ordinary Shares 40,959 12/17/2025 Morgan Stanley Australia Securities Limited Buy 11,512.70 79,628 Ordinary Shares 79,628 12/17/2025 Morgan Stanley Australia Securities Limited Buy 28,820.92 199,341 Ordinary Shares 199,341 2 12/19/2025 Morgan Stanley Australia Securities Limited Buy 759.55 5,233 Ordinary Shares 5,233 12/19/2025 Morgan Stanley Australia Securities Limited Buy 342.54 2,360 Ordinary Shares 2,360 12/19/2025 Morgan Stanley Australia Securities Limited Buy 188.26 1,297 Ordinary Shares 1,297 12/31/2025 Morgan Stanley Australia Securities Limited Buy 2,029.71 13,984 Ordinary Shares 13,984 12/31/2025 Morgan Stanley Australia Securities Limited Buy 1,116.32 7,691 Ordinary Shares 7,691 12/31/2025 Morgan Stanley Australia Securities Limited Buy 4,501.38 31,013 Ordinary Shares 31,013 01/15/2026 Morgan Stanley Australia Securities Limited Buy 39,058.39 137,578 Ordinary Shares 137,578 01/16/2026 Morgan Stanley Australia Securities Limited Buy 23,723.90 81,722 Ordinary Shares 81,722 01/19/2026 Morgan Stanley Australia Securities Limited Buy 1,383.86 4,767 Ordinary Shares 4,767 01/21/2026 Morgan Stanley Australia Securities Limited Buy 11,279.32 38,778 Ordinary Shares 38,778 01/22/2026 Morgan Stanley Australia Securities Limited Buy 82,452.66 284,909 Ordinary Shares 284,909 01/23/2026 Morgan Stanley Australia Securities Limited Buy 127,178.22 439,168 Ordinary Shares 439,168 01/27/2026 Morgan Stanley Australia Securities Limited Buy 376,824.64 1,298,549 Ordinary Shares 1,298,549 4. Present relevant interests Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows: Holder of relevant interest Registered holder of securities Person entitled to be registered as holder (8) Nature of relevant interest (6) Class and number of securities Person's votes Morgan Stanley Australia Securities Limited Morgan Stanley Australia Securities (Nominee) Pty Limited Not Applicable Shares held or in respect of which the holder may exercise control over disposal in the ordinary course of sales and trading businesses. 11,673,392 Ordinary Shares 11,673,392 Morgan Stanley Smith Barney LLC DTC through Morgan Stanley Not Applicable Shares held or in respect of which the holder may exercise control over disposal in the ordinary course of sales and trading businesses. 97 Ordinary Shares 97 Each of the entities (as listed in Annexure A) in the Morgan Stanley group upstream of the above entities Each of the above entities is a body corporate that each upstream entity controls and therefore has the relevant interests that the above entities collectively have. 11,673,489 Ordinary Shares 11,673,489 5. Changes in association The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows: Name and ACN/ARSN (if applicable) Nature of association Not Applicable Not Applicable 6. Addresses The addresses of persons named in this form are as follows: Name Address Morgan Stanley 1585 Broadway, New York, New York, 10036, USA. Morgan Stanley Australia Securities Limited Level 39, Chifley Tower, 2 Chifley Square, Sydney, 2000, AUSTRALIA. Morgan Stanley Smith Barney LLC 1585 Broadway, New York, 10036, USA. Signature 3 print name Latha Saisundar capacity Vice President sign here date January 30, 2026 4 Annexure A List of Morgan Stanley and its subsidiaries that have a relevant interest or deemed to have a relevant interest in the shares or units stated in Section 4. Name └─┬─Morgan Stanley ├─┬─Morgan Stanley Capital Management, LLC │ └───Morgan Stanley Smith Barney LLC └─┬─Morgan Stanley International Holdings Inc. └─┬─Morgan Stanley (Australia) Securities Holdings Pty Limited └───Morgan Stanley Australia Securities Limited Signature print name Latha Saisundar capacity Vice President sign here date January 30, 2026 5 DIRECTIONS (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form. (2) See the definition of "associate" in section 9 of the Corporations Act 2001. (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. (4) The voting shares of a company constitute one class unless divided into separate classes. (5) The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in. (6) The person’s votes divided by the total votes in the body corporate or scheme multiplied by 100. (7) Include details of: (a) any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies). See the definition of "relevant agreement" in section 9 of the Corporations Act 2001. (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write “unknown.’” (9) Details of the consideration must include any and all benefits, moneys and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired. 6 GUIDE This guide does not form part of the prescribed form and is included by ASIC to assist you in completing and lodging form 604. Signature This form must be signed by either a director or a secretary of the substantial holder. Lodging period Nil Lodging Fee Nil Other forms to be completed Nil Additional information (a) If additional space is required to complete a question, the information may be included on a separate piece of paper annexed to the form. (b) This notice must be given to a listed company, or the responsible entity for a listed managed investment scheme. A copy of this notice must also be given to each relevant securities exchange. (c) The person must give a copy of this notice: (i) within 2 business days after they become aware of the information; or (ii) by 9.30 am on the next trading day of the relevant securities exchange after they become aware of the information if: (A) a takeover bid is made for voting shares in the company or voting interests in the scheme; and (B) the person becomes aware of the information during the bid period. Annexures To make any annexure conform to the regulations, you must 1 use A4 size paper of white or light pastel colour with a margin of at least 10mm on all sides 2 show the corporation name and A.C.N or ARBN 3 number the pages consecutively 4 print or type in BLOCK letters in dark blue or black ink so that the document is clearly legible when photocopied 5 identify the annexure with a mark such as A, B, C, etc 6 endorse the annexure with the words: This is annexure (mark) of (number) pages referred to in form (form number and title) 7 sign and date the annexure. The annexure must be signed by the same person(s) who signed the form. Information in this guide is intended as a guide only. Please consult your accountant or solicitor for further advice.