AMA GROUP LIMITED — Major Shareholding Notification 2021

Oct 10, 2021

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To: Company Name/Scheme AMA Group Limited (AMA) ACN/ARSN 113 883 560 1. Details of substantial holder (1) Name Mittleman Investment Management, LLC and its associates listed in Section 4 below ACN\ARSN (if applicable) Not applicable There was a change in the interests of the substantial holder on 07/10/2021 The previous notice was given to the company on 23/09/2021 The previous notice was dated 22/09/2021

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	Present notice	Present notice
	Person’s votes	Voting power(5)	Person’s votes	Voting power(5)
Fully paid ordinary shares	114,464,158	12.88%	117,470,917	11.59%

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
See Annexure A	See Annexure A	See Annexure A	See Annexure A	See Annexure A	See Annexure A

4. Present relevant interests

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

34	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
	Mittleman Investment Management, LLC (MIM)	See Annexure B	See Annexure B	MIM, in its capacity as investment manager for a range of client portfolios, has a relevant interest in the shares of such clients by virtue of s608(1)(c) of the Corporations Act 2001(Cth) (Corporations Act).	117,470,917 fully paid Ordinary shares	117,470,917 votes
	Master Control, LLC (MC), Aimia AM Holdings Inc. (AM), Aimia Holdings US Inc. and Aimia Holdings UK Limited and Aimia Inc. (AI)	See Annexure B	See Annexure B	Each have a relevant interest by virtue of s608(3)(b) of the Corporations Act as a result of directly or indirectly controlling MIM.	117,470,917 fully paid Ordinary shares	117,470,917 votes
	40-8794-8310v1 AI and each of its controlled entities	See Annexure B	See Annexure B	Has a relevant interest by virtue of s608(3)(a) of the Corporations Act as a result of having voting power of more than 20% in MIM.	117,470,917 fully paid Ordinary shares	117,470,917 votes

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 andACN/ARSN(ifapplicable) Nature of association N/A N/A 6. Addresses The addresses of the persons named in this form are as follows: Name Address Mittleman Investment Management, LLC 105 Maxess Road, Suite 207, Melville, NY 11747, United States Master Control,LLC 105 Maxess Road,Suite 207,Melville,NY 11747,United States Aimia AM Holdings Inc, 105 Maxess Road, Suite 207, Melville, NY 11747, United States Aimia Holdings US Inc. c/o Corporation Trust Center, 1209 Orange Street, Wilmington, New Castle County, Delaware 19801 Aimia Holdings UK Limited Suite 1,3rd Floor,11-12 St. James Square,London SW1Y 4LB Aimia Inc. 176Yonge Street, 06-128,Toronto OntarioM5C2L7	Name andACN/ARSN(ifapplicable)	Nature of association
	N/A	N/A
	Name	Address
	Mittleman Investment Management, LLC	105 Maxess Road, Suite 207, Melville, NY 11747, United States
	Master Control,LLC	105 Maxess Road,Suite 207,Melville,NY 11747,United States
	Aimia AM Holdings Inc,	105 Maxess Road, Suite 207, Melville, NY 11747, United States
	Aimia Holdings US Inc.	c/o Corporation Trust Center, 1209 Orange Street, Wilmington, New Castle County, Delaware 19801
	Aimia Holdings UK Limited	Suite 1,3rd Floor,11-12 St. James Square,London SW1Y 4LB
	Aimia Inc.	176Yonge Street, 06-128,Toronto OntarioM5C2L7

Signature print name Stephen G. Bondi capacity Authorized Signatory sign here date 10/10//2021

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 person’s votes divided by the total votes in the body corporate or scheme multiplied by 100. (6) 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.

(7) 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.

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

3440-8794-8310v1

Annexure A of Form 604

This is Annexure A of 1 page referred to in the Form 604 (Notice of change of interest of substantial holder), signed by me and dated: 10/10/2021

By: Stephen G. Bondi, Authorized Signatory

	AMA GroupLimited DailyTransactions from 22 September 2021 to 07 October 2021	AMA GroupLimited DailyTransactions from 22 September 2021 to 07 October 2021	AMA GroupLimited DailyTransactions from 22 September 2021 to 07 October 2021	AMA GroupLimited DailyTransactions from 22 September 2021 to 07 October 2021	AMA GroupLimited DailyTransactions from 22 September 2021 to 07 October 2021	AMA GroupLimited DailyTransactions from 22 September 2021 to 07 October 2021
Date of change	Person whose relevant interest changed	Nature of change	Consideration given related to change (USD)	Class and number of securities affected		Person's votes affected
24/09/2021	Mittleman Investment Management,LLC	Buy	196,458.04	591,250	Ordinaryshares	591,250
27/09/2021	Mittleman Investment Management,LLC	Buy	44,959.41	132,374	Ordinaryshares	132,374
27/09/2021	Mittleman Investment Management,LLC	Deliver	n/a(1)	145,000	Ordinaryshares	145,000
28/09/2021	Mittleman Investment Management,LLC	Buy	52,924.54	157,029	Ordinaryshares	157,029
28/09/2021	Mittleman Investment Management,LLC	Sell	179,913.90	530,000	Ordinaryshares	530,000
29/09/2021	Mittleman Investment Management,LLC	Buy	11,053.73	33,400	Ordinaryshares	33,400
29/09/2021	Mittleman Investment Management,LLC	Sell	223,505.48	674,418	Ordinaryshares	674,418
30/09/2021	Mittleman Investment Management,LLC	Buy	410,159.74	1,264,124	Ordinaryshares	1,264,124
01/10/2021	Mittleman Investment Management,LLC	Buy	96,974.37	303,000	Ordinaryshares	303,000
05/10/2021	Mittleman Investment Management,LLC	Buy	97,799.41	302,000	Ordinaryshares	302,000
06/10/2021	Mittleman Investment Management,LLC	Buy	368,327.07	1,124,055	Ordinaryshares	1,124,055
07/10/2021	Mittleman Investment Management,LLC	Buy	146,655.97	448,945	Ordinaryshares	448,945

(1) n/a - shares no longer under direction and control of Mittleman Investment Management, LLC

3440-8794-8310v1

Annexure B of Form 604

This is Annexure B of 1 page referred to in form 604 Notice of change of interests of substantial holder

Company Name/Scheme: AMA Group Limited

Substantial Holder Name: Mittleman Investment Management, LLC

Paragraph 4. Details of present registered holders

Holder of relevant interest	Registered holder of securities	Person Entitled to be registered as holder	Class and number of securities
Aimia Inc.	Not applicable	Not applicable	No Ordinary shares directly held
Aimia Holdings UK Limited	Not applicable	Not applicable	No Ordinary shares directly held
Aimia Holdings US Inc.	Not applicable	Not applicable	No Ordinary shares directly held
Aimia AM Holdings Inc.	Not applicable	Not applicable	No Ordinary shares directly held
Master Control, LLC	Not applicable	Not applicable	No Ordinary shares directly held
Mittleman Investment Management,LLC	Pershing LLC	various discretionary client accounts of MIM	92,241,638 Ordinary shares
Mittleman Investment Management,LLC	BNP Paribas Securities Services, Sucursal En Espana	discretionary client account of MIM	5,520,744 Ordinary shares
Mittleman Investment Management,LLC	National Financial Services LLC	various discretionary client accounts of MIM	3,935,000 Ordinary shares
Mittleman Investment Management,LLC	The Northern Trust Company	discretionary client account of MIM	15,773,535 Ordinary shares
Mittleman Investment Management,LLC	Pershing LLC*	Precog Capital Partners, L.P.	20.000,000 Ordinary shares*

Notes:

*Pershing LLC holdings for Precog Capital Partners, L.P. are also included in MIM’s holdings at Pershing LLC for the various discretionary client accounts of MIM.

Signature: ________ Date: 10/10/2021 Name: Stephen G. Bondi Title: Authorized Signatory

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