ALS LIMITED — Major Shareholding Notification 2015

Jul 1, 2015

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme: A L S Limited

ACN/ARSN: 009 657 489

1. Details of substantial holder (1)

Name: Schroder Investment Management Australia Limited

ACN/ARSN (if applicable): 000 443 274

The holder became a substantial holder on:

02/07/2015

2. Details of 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 on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	Person’s Votes (5)	Voting Power (6)
Ordinaryshares	22,851,707	22,851,707	5.61%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevantinterest	Nature of relevant interest (7)	Class and number ofsecurities
SIMAL	Power to dispose of securities	22,851,707 OrdinaryShares

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevantinterest	Registered holder ofsecurities	Person entitled to beregistered as holder(8)	Class and number ofsecurities
SIMAL	BNP Paribas SecuritiesServices	BNP Paribas SecuritiesServices	2,636,638OrdinaryShares
SIMAL	Citicorp Nominees LtdHK	Citicorp Nominees LtdHK	3,133,189Ordinary Shares
SIMAL	HSBC CustodyNominees (Australia)Ltd	HSBC CustodyNominees (Australia)Ltd	2,263,438Ordinary Shares
SIMAL	JP Morgan CustodialServices	JP Morgan CustodialServices	10,028,793Ordinary Shares
SIMAL	National Nominees Ltd -Melbourne	National Nominees Ltd -Melbourne	4,789,649Ordinary Shares

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder ofrelevantinterest	Date ofacquisition	Consideration (9)	Consideration (9)	Class and number ofsecurities
		Cash	Non-cash
SIMAL	04/02/2015 -01/07/2015	$48,064,051.20		8,115,666 Ordinaryshares
SIMAL	04/02/2015 -01/07/2015	Nil	In specietransfer	279,970 Ordinaryshares

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN(if applicable)	Nature of association
Schroder Investment Management AustraliaLimited (“SIMAL”)	Related Fund Manager

7. Address

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

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