ALPHA HPA LIMITED — Major Shareholding Notification 2021

May 31, 2021

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme Alpha HPA Ltd (A4N) ACN/ARSN 106 879 690 1. Details of substantial holder (1) Name Regal Funds Management Pty Ltd (RFM) ACN/ARSN (if applicable) 107 576 821

There was a change in the interests of the substantial holder on 28/05/2021 The previous notice was given to the company on 23/12/2020 The previous notice was dated 21/12/2020

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	Previous notice	Current notice	Current notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
ORDINARY	69,893,435	10.09%	62,528,369	9.03%

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:

Holder of relevant interest	Date of acquisition	Consideration (9)	Class and number of securities
	See Annexure 1

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
UBS AG, AUSTRALIA BRANCH	UBS NOMINEES PTY LTD	UBS AG, AUSTRALIA BRANCH	HOLDER OF SHARES	35,719,852 ORDINARY	35,719,852
MERRILL LYNCH INTERNATIONAL LIMITED	MERRILL LYNCH (AUS) NOMINEES PTY LTD	MERRILL LYNCH INTERNATIONAL LIMITED	HOLDER OF SHARES	19,890,008 ORDINARY	19,890,008
CREDIT SUISSE AG	CS THIRD NOMINEES PTY LIMITED	CREDIT SUISSE AG	HOLDER OF SHARES	6,918,509 ORDINARY	6,918,509

5. Changes in associati The persons who have bec with, the substantial holder	5. Changes in associati The persons who have bec with, the substantial holder	on named in this form are as follows: print name capacity sign here date erests Nature of Change Consideration given in relation to change Number of securities affected Class of securities Persons votes affected Sell 204845.77 636167 Ordinary 636167 Sell 177550.00 530000 Ordinary 530000 Buy 240000.00 600000 Ordinary 600000 Buy 82000.00 200000 Ordinary 200000 Buy 82000.00 200000 Ordinary 200000 Sell 93608.23 201135 Ordinary 201135 Sell 27487.32 60266 Ordinary 60266 Sell 83900.33 197552 Ordinary 197552 Sell 70290.00 150000 Ordinary 150000 Sell 188127.27 414286 Ordinary 414286 Sell 99000.00 200000 Ordinary 200000 Sell 338030.00 700000 Ordinary 700000 Sell 111915.71 213376 Ordinary 213376 Sell 109582.51 207897 Ordinary 207897 Sell 253899.54 508511 Ordinary 508511 Sell 155968.00 320000 Ordinary 320000 Sell 284900.68 511216 Ordinary 511216 Sell 106060.00 200000 Ordinary 200000 Sell 98692.88 177825 Ordinary 177825 Sell 61065.39 113378 Ordinary 113378 Sell 151050.00 300000 Ordinary 300000 Sell 59359.53 114882 Ordinary 114882 1/06/2021 al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management se relevant interest changed al Funds Management al Funds Management al Funds Management CompanySecretary ARSN (if applicable) PPLICABLE Nature of association ame IP KING Address LEVEL 47 GATEWAY 1 MACQUARIE PLACE SYDNEY NSW 2000 KennyHo ome associates (2) of, ceased to be associates of, or have changed the nature of their association (9) in relation to voting interests in the company or scheme are as follows:	on named in this form are as follows: print name capacity sign here date erests Nature of Change Consideration given in relation to change Number of securities affected Class of securities Persons votes affected Sell 204845.77 636167 Ordinary 636167 Sell 177550.00 530000 Ordinary 530000 Buy 240000.00 600000 Ordinary 600000 Buy 82000.00 200000 Ordinary 200000 Buy 82000.00 200000 Ordinary 200000 Sell 93608.23 201135 Ordinary 201135 Sell 27487.32 60266 Ordinary 60266 Sell 83900.33 197552 Ordinary 197552 Sell 70290.00 150000 Ordinary 150000 Sell 188127.27 414286 Ordinary 414286 Sell 99000.00 200000 Ordinary 200000 Sell 338030.00 700000 Ordinary 700000 Sell 111915.71 213376 Ordinary 213376 Sell 109582.51 207897 Ordinary 207897 Sell 253899.54 508511 Ordinary 508511 Sell 155968.00 320000 Ordinary 320000 Sell 284900.68 511216 Ordinary 511216 Sell 106060.00 200000 Ordinary 200000 Sell 98692.88 177825 Ordinary 177825 Sell 61065.39 113378 Ordinary 113378 Sell 151050.00 300000 Ordinary 300000 Sell 59359.53 114882 Ordinary 114882 1/06/2021 al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management se relevant interest changed al Funds Management al Funds Management al Funds Management CompanySecretary ARSN (if applicable) PPLICABLE Nature of association ame IP KING Address LEVEL 47 GATEWAY 1 MACQUARIE PLACE SYDNEY NSW 2000 KennyHo ome associates (2) of, ceased to be associates of, or have changed the nature of their association (9) in relation to voting interests in the company or scheme are as follows:	on named in this form are as follows: print name capacity sign here date erests Nature of Change Consideration given in relation to change Number of securities affected Class of securities Persons votes affected Sell 204845.77 636167 Ordinary 636167 Sell 177550.00 530000 Ordinary 530000 Buy 240000.00 600000 Ordinary 600000 Buy 82000.00 200000 Ordinary 200000 Buy 82000.00 200000 Ordinary 200000 Sell 93608.23 201135 Ordinary 201135 Sell 27487.32 60266 Ordinary 60266 Sell 83900.33 197552 Ordinary 197552 Sell 70290.00 150000 Ordinary 150000 Sell 188127.27 414286 Ordinary 414286 Sell 99000.00 200000 Ordinary 200000 Sell 338030.00 700000 Ordinary 700000 Sell 111915.71 213376 Ordinary 213376 Sell 109582.51 207897 Ordinary 207897 Sell 253899.54 508511 Ordinary 508511 Sell 155968.00 320000 Ordinary 320000 Sell 284900.68 511216 Ordinary 511216 Sell 106060.00 200000 Ordinary 200000 Sell 98692.88 177825 Ordinary 177825 Sell 61065.39 113378 Ordinary 113378 Sell 151050.00 300000 Ordinary 300000 Sell 59359.53 114882 Ordinary 114882 1/06/2021 al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management se relevant interest changed al Funds Management al Funds Management al Funds Management CompanySecretary ARSN (if applicable) PPLICABLE Nature of association ame IP KING Address LEVEL 47 GATEWAY 1 MACQUARIE PLACE SYDNEY NSW 2000 KennyHo ome associates (2) of, ceased to be associates of, or have changed the nature of their association (9) in relation to voting interests in the company or scheme are as follows:	on named in this form are as follows: print name capacity sign here date erests Nature of Change Consideration given in relation to change Number of securities affected Class of securities Persons votes affected Sell 204845.77 636167 Ordinary 636167 Sell 177550.00 530000 Ordinary 530000 Buy 240000.00 600000 Ordinary 600000 Buy 82000.00 200000 Ordinary 200000 Buy 82000.00 200000 Ordinary 200000 Sell 93608.23 201135 Ordinary 201135 Sell 27487.32 60266 Ordinary 60266 Sell 83900.33 197552 Ordinary 197552 Sell 70290.00 150000 Ordinary 150000 Sell 188127.27 414286 Ordinary 414286 Sell 99000.00 200000 Ordinary 200000 Sell 338030.00 700000 Ordinary 700000 Sell 111915.71 213376 Ordinary 213376 Sell 109582.51 207897 Ordinary 207897 Sell 253899.54 508511 Ordinary 508511 Sell 155968.00 320000 Ordinary 320000 Sell 284900.68 511216 Ordinary 511216 Sell 106060.00 200000 Ordinary 200000 Sell 98692.88 177825 Ordinary 177825 Sell 61065.39 113378 Ordinary 113378 Sell 151050.00 300000 Ordinary 300000 Sell 59359.53 114882 Ordinary 114882 1/06/2021 al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management se relevant interest changed al Funds Management al Funds Management al Funds Management CompanySecretary ARSN (if applicable) PPLICABLE Nature of association ame IP KING Address LEVEL 47 GATEWAY 1 MACQUARIE PLACE SYDNEY NSW 2000 KennyHo ome associates (2) of, ceased to be associates of, or have changed the nature of their association (9) in relation to voting interests in the company or scheme are as follows:	on named in this form are as follows: print name capacity sign here date erests Nature of Change Consideration given in relation to change Number of securities affected Class of securities Persons votes affected Sell 204845.77 636167 Ordinary 636167 Sell 177550.00 530000 Ordinary 530000 Buy 240000.00 600000 Ordinary 600000 Buy 82000.00 200000 Ordinary 200000 Buy 82000.00 200000 Ordinary 200000 Sell 93608.23 201135 Ordinary 201135 Sell 27487.32 60266 Ordinary 60266 Sell 83900.33 197552 Ordinary 197552 Sell 70290.00 150000 Ordinary 150000 Sell 188127.27 414286 Ordinary 414286 Sell 99000.00 200000 Ordinary 200000 Sell 338030.00 700000 Ordinary 700000 Sell 111915.71 213376 Ordinary 213376 Sell 109582.51 207897 Ordinary 207897 Sell 253899.54 508511 Ordinary 508511 Sell 155968.00 320000 Ordinary 320000 Sell 284900.68 511216 Ordinary 511216 Sell 106060.00 200000 Ordinary 200000 Sell 98692.88 177825 Ordinary 177825 Sell 61065.39 113378 Ordinary 113378 Sell 151050.00 300000 Ordinary 300000 Sell 59359.53 114882 Ordinary 114882 1/06/2021 al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management se relevant interest changed al Funds Management al Funds Management al Funds Management CompanySecretary ARSN (if applicable) PPLICABLE Nature of association ame IP KING Address LEVEL 47 GATEWAY 1 MACQUARIE PLACE SYDNEY NSW 2000 KennyHo ome associates (2) of, ceased to be associates of, or have changed the nature of their association (9) in relation to voting interests in the company or scheme are as follows:	on named in this form are as follows: print name capacity sign here date erests Nature of Change Consideration given in relation to change Number of securities affected Class of securities Persons votes affected Sell 204845.77 636167 Ordinary 636167 Sell 177550.00 530000 Ordinary 530000 Buy 240000.00 600000 Ordinary 600000 Buy 82000.00 200000 Ordinary 200000 Buy 82000.00 200000 Ordinary 200000 Sell 93608.23 201135 Ordinary 201135 Sell 27487.32 60266 Ordinary 60266 Sell 83900.33 197552 Ordinary 197552 Sell 70290.00 150000 Ordinary 150000 Sell 188127.27 414286 Ordinary 414286 Sell 99000.00 200000 Ordinary 200000 Sell 338030.00 700000 Ordinary 700000 Sell 111915.71 213376 Ordinary 213376 Sell 109582.51 207897 Ordinary 207897 Sell 253899.54 508511 Ordinary 508511 Sell 155968.00 320000 Ordinary 320000 Sell 284900.68 511216 Ordinary 511216 Sell 106060.00 200000 Ordinary 200000 Sell 98692.88 177825 Ordinary 177825 Sell 61065.39 113378 Ordinary 113378 Sell 151050.00 300000 Ordinary 300000 Sell 59359.53 114882 Ordinary 114882 1/06/2021 al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management se relevant interest changed al Funds Management al Funds Management al Funds Management CompanySecretary ARSN (if applicable) PPLICABLE Nature of association ame IP KING Address LEVEL 47 GATEWAY 1 MACQUARIE PLACE SYDNEY NSW 2000 KennyHo ome associates (2) of, ceased to be associates of, or have changed the nature of their association (9) in relation to voting interests in the company or scheme are as follows:	on named in this form are as follows: print name capacity sign here date erests Nature of Change Consideration given in relation to change Number of securities affected Class of securities Persons votes affected Sell 204845.77 636167 Ordinary 636167 Sell 177550.00 530000 Ordinary 530000 Buy 240000.00 600000 Ordinary 600000 Buy 82000.00 200000 Ordinary 200000 Buy 82000.00 200000 Ordinary 200000 Sell 93608.23 201135 Ordinary 201135 Sell 27487.32 60266 Ordinary 60266 Sell 83900.33 197552 Ordinary 197552 Sell 70290.00 150000 Ordinary 150000 Sell 188127.27 414286 Ordinary 414286 Sell 99000.00 200000 Ordinary 200000 Sell 338030.00 700000 Ordinary 700000 Sell 111915.71 213376 Ordinary 213376 Sell 109582.51 207897 Ordinary 207897 Sell 253899.54 508511 Ordinary 508511 Sell 155968.00 320000 Ordinary 320000 Sell 284900.68 511216 Ordinary 511216 Sell 106060.00 200000 Ordinary 200000 Sell 98692.88 177825 Ordinary 177825 Sell 61065.39 113378 Ordinary 113378 Sell 151050.00 300000 Ordinary 300000 Sell 59359.53 114882 Ordinary 114882 1/06/2021 al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management al Funds Management se relevant interest changed al Funds Management al Funds Management al Funds Management CompanySecretary ARSN (if applicable) PPLICABLE Nature of association ame IP KING Address LEVEL 47 GATEWAY 1 MACQUARIE PLACE SYDNEY NSW 2000 KennyHo ome associates (2) of, ceased to be associates of, or have changed the nature of their association (9) in relation to voting interests in the company or scheme are as follows:
Name and ACN/		ARSN (if applicable)		Nature of association
NOT A		PPLICABLE
6. Addresses The addresses of persons
N		ame		Address
PHIL		IP KING		LEVEL 47 GATEWAY 1 MACQUARIE PLACE SYDNEY NSW 2000
Signature Annexure 1 Changes in relevant int
Date	Person who	se relevant interest changed		Nature of Change	Consideration given in relation to change	Number of securities affected	Class of securities	Persons votes affected
19/01/2021	Reg	al Funds Management		Sell	204845.77	636167	Ordinary	636167
20/01/2021	Reg	al Funds Management		Sell	177550.00	530000	Ordinary	530000
25/01/2021	Reg	al Funds Management		Buy	240000.00	600000	Ordinary	600000
25/01/2021	Reg	al Funds Management		Buy	82000.00	200000	Ordinary	200000
25/01/2021	Reg	al Funds Management		Buy	82000.00	200000	Ordinary	200000
16/02/2021	Reg	al Funds Management		Sell	93608.23	201135	Ordinary	201135
17/02/2021	Reg	al Funds Management		Sell	27487.32	60266	Ordinary	60266
18/02/2021	Reg	al Funds Management		Sell	83900.33	197552	Ordinary	197552
22/02/2021	Reg	al Funds Management		Sell	70290.00	150000	Ordinary	150000
23/02/2021	Reg	al Funds Management		Sell	188127.27	414286	Ordinary	414286
25/02/2021	Reg	al Funds Management		Sell	99000.00	200000	Ordinary	200000
25/02/2021	Reg	al Funds Management		Sell	338030.00	700000	Ordinary	700000
2/03/2021	Reg	al Funds Management		Sell	111915.71	213376	Ordinary	213376
3/03/2021	Reg	al Funds Management		Sell	109582.51	207897	Ordinary	207897
4/03/2021	Reg	al Funds Management		Sell	253899.54	508511	Ordinary	508511
10/03/2021	Reg	al Funds Management		Sell	155968.00	320000	Ordinary	320000
16/03/2021	Reg	al Funds Management		Sell	284900.68	511216	Ordinary	511216
17/03/2021	Reg	al Funds Management		Sell	106060.00	200000	Ordinary	200000
17/03/2021	Reg	al Funds Management		Sell	98692.88	177825	Ordinary	177825
18/03/2021	Reg	al Funds Management		Sell	61065.39	113378	Ordinary	113378
19/03/2021	Reg	al Funds Management		Sell	151050.00	300000	Ordinary	300000
19/03/2021	Reg	al Funds Management		Sell	59359.53	114882	Ordinary	114882

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

6. Addresses

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

Name Address LEVEL 47 GATEWAY 1 MACQUARIE PLACE SYDNEY PHILIP KING NSW 2000

Signature

Annexure 1

Changes in relevant interests

			Consideration
			given in	Number of		Persons
		Nature of	relation to	securities	Class of	votes
Date	Person whose relevant interest changed	Change	change	affected	securities	affected
19/01/2021	Regal Funds Management	Sell	204845.77	636167	Ordinary	636167
20/01/2021	Regal Funds Management	Sell	177550.00	530000	Ordinary	530000
25/01/2021	Regal Funds Management	Buy	240000.00	600000	Ordinary	600000
25/01/2021	Regal Funds Management	Buy	82000.00	200000	Ordinary	200000
25/01/2021	Regal Funds Management	Buy	82000.00	200000	Ordinary	200000
16/02/2021	Regal Funds Management	Sell	93608.23	201135	Ordinary	201135
17/02/2021	Regal Funds Management	Sell	27487.32	60266	Ordinary	60266
18/02/2021	Regal Funds Management	Sell	83900.33	197552	Ordinary	197552
22/02/2021	Regal Funds Management	Sell	70290.00	150000	Ordinary	150000
23/02/2021	Regal Funds Management	Sell	188127.27	414286	Ordinary	414286
25/02/2021	Regal Funds Management	Sell	99000.00	200000	Ordinary	200000
25/02/2021	Regal Funds Management	Sell	338030.00	700000	Ordinary	700000
2/03/2021	Regal Funds Management	Sell	111915.71	213376	Ordinary	213376
3/03/2021	Regal Funds Management	Sell	109582.51	207897	Ordinary	207897
4/03/2021	Regal Funds Management	Sell	253899.54	508511	Ordinary	508511
10/03/2021	Regal Funds Management	Sell	155968.00	320000	Ordinary	320000
16/03/2021	Regal Funds Management	Sell	284900.68	511216	Ordinary	511216
17/03/2021	Regal Funds Management	Sell	106060.00	200000	Ordinary	200000
17/03/2021	Regal Funds Management	Sell	98692.88	177825	Ordinary	177825
18/03/2021	Regal Funds Management	Sell	61065.39	113378	Ordinary	113378
19/03/2021	Regal Funds Management	Sell	151050.00	300000	Ordinary	300000
19/03/2021	Regal Funds Management	Sell	59359.53	114882	Ordinary	114882

22/03/2021	Regal Funds Management	Sell	11990.01	23496	Ordinary	23496
23/03/2021	Regal Funds Management	Sell	12324.66	24166	Ordinary	24166
24/03/2021	Regal Funds Management	Sell	16992.72	33503	Ordinary	33503
25/03/2021	Regal Funds Management	Sell	83692.00	167384	Ordinary	167384
25/03/2021	Regal Funds Management	Sell	12440.06	24421	Ordinary	24421
26/03/2021	Regal Funds Management	Sell	96260.00	200000	Ordinary	200000
30/03/2021	Regal Funds Management	Sell	103752.00	220000	Ordinary	220000
12/04/2021	Regal Funds Management	Sell	421840.00	800000	Ordinary	800000
21/04/2021	Regal Funds Management	Sell	261196.00	520000	Ordinary	520000
22/04/2021	Regal Funds Management	Sell	79500.00	150000	Ordinary	150000
28/05/2021	Regal Funds Management	Sell	282513.57	445605	Ordinary	445605