ACROW LIMITED — Major Shareholding Notification 2021

Jul 27, 2021

605 page 1/2 15 July 2001

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme Acrow Formwork and Construction Services Limited

ACN/ARSN 124 893 465

1. Details of substantial holder(1)

Name

Peter Lancken ACN/ARSN (if applicable) N/A The holder ceased to be a substantial holder on 28/07/21 The previous notice was given to the company on 05/05/20 The previous notice was dated 01/05/20

ACN/ARSN (if applicable)

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) 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 (4)	Consideration given in relation to change(5)	Class (6) and number of securities affected	Person's votes affected
		see Annexure A

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) 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
N/A

4. Addresses

The addresses of persons named in this form are as follows:

Name Address Peter Lancken 25 TENNYSON AVENUE , TURRAMURRA NSW 2074

Signature

print name sign here	capacity Peter Lancken Holder of relevant interest
	date / / 28 07 2021

605 page 2/2 15 July 2001

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 4 of the form.

• (2) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

• (3) See the definition of "associate" in section 9 of the Corporations Act 2001.

(4) Include details of:

• (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. 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.

• (5) Details of the consideration must include any and all benefits, money 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) The voting shares of a company constitute one class unless divided into separate classes.

• (7) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

Annexure A to Form 605 – Ceasing to be a substantial holder

Date of change	Person whose relevant interest changed	Nature of Change	Consideration given in relation to change	Class and number of securities affected	Person’s votes affected
4/6/2020	Peter Lancken	Dilution due to issue of 637,500 following the exercise of Performance Rights	N/A	10,952,365 fully paid ordinary shares	10,952,365
19/6/2020	Peter Lancken	Dilution due to issue of 1,466,250 following the exercise of Performance Rights	N/A	10,952,365 fully paid ordinary shares	10,952,365
26/6/2020	Peter Lancken	Dilution due to the issue of 187,000 shares following the exercise of options	N/A	10,952,365 fully paid ordinary shares	10,952,365
30/9/2020	Peter Lancken	Issue of 350,000 fully paid ordinary shares following exercise of options	$0.20 per share	11,302,365 fully paid ordinary shares	11,302,365
19/10/2020	Peter Lancken	Dilution due to issue of 19,227 fully paid ordinary shares following exercise of options	N/A	11,302,365 fully paid ordinary shares	11,302,365
13/11/2020	Peter Lancken	Issue of 328,577 fully paid ordinary shares under dividend reinvestment plan	$0.3444 per share	11,630,942 fully paid ordinary shares	11,630,942
30/11/2020	Peter Lancken	Dilution due to issue of 200,000 shares upon exercise of options	N/A	11,630,942 fully paid ordinary shares	11,630,942
23/3/2021	Peter Lancken	Dilution due to issue of 373,886 shares upon exercise of options	N/A	11,630,942 fully paid ordinary shares	11,630,942
14/5/2021	Peter Lancken	Issue of 6,551 shares under dividend reinvestment plan	$0.3591 per share	11,637,493 fully paid ordinary shares	11,637,493
28/7/2021	Peter Lancken	Dilution due to issue of 27,631,579 shares under aplacement	N/A	11,637,493 fully paid ordinary shares	11,637,493