AMA GROUP LIMITED — Major Shareholding Notification 2021

Sep 22, 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 21/09/2021 The previous notice was given to the company on 06/08/2021 The previous notice was dated 05/08/2021

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	78,841,158	10.56%	114,464,158	12.88%

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).	114,464,158 fully paid Ordinary shares	114,464,158 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.	114,464,158 fully paid Ordinary shares	114,464,158 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.	114,464,158 fully paid Ordinary shares	114,464,158 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
Signature
	print name Stephen G. Bondi capacity Authorized Signatory
	sign here date 22/09/2021
	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: 22/09/2021

By: Stephen G. Bondi, Authorized Signatory

AMA GroupLimited DailyTransactions from 05 August 2021 to 21 September 2021	AMA GroupLimited DailyTransactions from 05 August 2021 to 21 September 2021	AMA GroupLimited DailyTransactions from 05 August 2021 to 21 September 2021	AMA GroupLimited DailyTransactions from 05 August 2021 to 21 September 2021	AMA GroupLimited DailyTransactions from 05 August 2021 to 21 September 2021	AMA GroupLimited DailyTransactions from 05 August 2021 to 21 September 2021	AMA GroupLimited DailyTransactions from 05 August 2021 to 21 September 2021
Date of change	Person whose relevant interest changed	Nature of change	Consideration given related to change (USD or AUD as indicated)	Class and number of securities affected		Person's votes affected
06/08/2021	Mittleman Investment Management,LLC	Buy	USD 28,573.95	82,000	Ordinaryshares	82,000
10/08/2021	Mittleman Investment Management,LLC	Buy	USD 10,804.79	30,000	Ordinaryshares	30,000
18/08/2021	Mittleman Investment Management,LLC	Buy	USD 169,319.17	500,000	Ordinaryshares	500,000
03/09/2021	Mittleman Investment Management,LLC	Buy	USD 614,005.88	1,985,000	Ordinaryshares	1,985,000
13/09/2021	Mittleman Investment Management,LLC	Buy	USD 1,516,461.94	4,742,715	Ordinaryshares	4,742,715
14/09/2021	Mittleman Investment Management,LLC	Buy	USD 49,466.61	154,622	Ordinaryshares	154,622
25/08/2021	Mittleman Investment Management,LLC	Sell	USD 3,032.96	10,000	Ordinaryshares	10,000
26/08/2021	Mittleman Investment Management,LLC	Sell	USD 7,782.21	25,000	Ordinaryshares	25,000
27/08/2021	Mittleman Investment Management,LLC	Sell	USD 6,813.98	21,000	Ordinaryshares	21,000
02/09/2021	Mittleman Investment Management,LLC	Sell	USD 4,870.12	15,000	Ordinaryshares	15,000
15/09/2021	Mittleman Investment Management,LLC	Deliver	n/a(1)	634,000	Ordinaryshares	634,000
20/09/2021	Mittleman Investment Management,LLC	Buy	AUD 10,812,623.63	28,833,663	Ordinaryshares	28,833,663

(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	89,882,503 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	3,287,376 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.	19,867,626 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: 22/09/2021 Name: Stephen G. Bondi Title: Authorized Signatory

3440-8794-8310v1