ACROW LIMITED — Major Shareholding Notification 2021

Mar 7, 2021

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme: ACN/ARSN: 124 893 465

Acrow Formwork and Construction Services Limited

1. Details of substantial holder (1)

Name:

Schroder Investment Management Australia Limited and all of its related bodies corporate

ACN/ARSN (if applicable): 000 443 274 There was a change in the interests of the 04/03/2021 substantial holder on: The previous notice was given to the 08/05/2019 company on: The previous notice was dated: 08/05/2019

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:

==> picture [485 x 70] intentionally omitted <==

----- Start of picture text -----

Class of securities (4) Previous notice Present notice
Voting power
Person’s votes Person's votes Voting power (5)
(5)
Ordinary Shares 14,792,872 8.41% 12,629,536 5.73%
----- End of picture text -----

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 09/05/2019 - 04/03/2021 09/05/2019 - 04/03/2021	Person whose relevant interest changed SIMAL	Sell $1,621,167 4,931,142 Ordinary Shares 4,931,142 Consideration given in relation to change (7) Person’s votes affected Class and number of securities affected Nature of change (6) Buy $882,236 2,767,806 Ordinary Shares 2,767,806
	SIMAL

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

==> picture [485 x 118] intentionally omitted <==

----- Start of picture text -----

Person entitled Nature of
Holder of relevant Registered holder Class and number of
to be registered relevant Person’s votes
interest of securities securities
as holder (8) interest (6)
BNP Paribas Power to
BNP Paribas 8,238,934
SIMAL Securities dispose of 8,238,934
Securities Services Ordinary Shares
Services securities
JP Morgan Power to
JP Morgan 4,390,602
SIMAL Custodial dispose of 4,390,602
Custodial Services Ordinary Shares
Services securities
----- End of picture text -----

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
Schroder Investment Management Australia Limited (“SIMAL”)	Relevant Fund Manager

6. Address

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

Name					Address
Schroder	Investment	Management	(Australia)	Limited	Level 20, Angel Place, 123 Pitt Street, Sydney, 2000,
(“SIMAL”)					Australia