ANSELL LIMITED — Major Shareholding Notification 2025

Jan 15, 2025

Form 603

Corporations Act 2001

Section 671B

Notice of initial substantial holder

To Company Name/Scheme Ansell Ltd

ACN/ARSN 004 085 330

1. Details of substantial holder (1)

Pinnacle Investment Management Group Limited (and its subsidiaries Name listed in Annexure A ACN/ARSN (if applicable) 100 325 184

The holder became a substantial holder on 13/01/2025

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)
ORDINARY FULLY PAID	7,551,553	7,551,553	5.17%

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 relevant interest	Nature of relevant interest (7)	Class and number of securities
REFER TO ANNEXURE A PART 1 AND PART 2

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 relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Class and number of securities
REFER TO ANNEXURE B

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 of relevant interest	Date of acquisition	Consideration (9)	Consideration (9)	Class and number of securities
		Cash	Non-cash
REFER TO ANNEXURE C

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
REFER TO ANNEXURE D

7. Addresses

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

Name	Address
REFER TO ANNEXURE E

Signature

ure
print name	CALVIN KWOK	capacity	COMPANY SECRETARY
sign here		date	16/01/2025

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 total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.

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

• (7) Include details of:

• (a) any relevant agreement or other circumstances by which the relevant interest was acquired. 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.

• (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) 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.

Ansell Ltd	Ansell Ltd	Ansell Ltd	Ansell Ltd
Annexure A - Part 1
Holder of relevant interest	Nature of relevant interest	Number of securities	Class of securities
Pinnacle Investment Management Group Limited (ACN 100 325 184) Pinnacle Investment Management Limited (ACN 109 659 109) Ariano Pty Limited (ACN 605 250 799) Next Financial Limited (ACN 081 722 894) Next Financial Nominees Pty Ltd (ACN 093 252 576) Next Financial Nominees No. 2 Pty Ltd (ACN 132 819 115) Investment Solutions Client Services Pty Ltd (ACN 117 898 334) Priority Funds Management Pty Ltd (ACN 120 826 575) Priority Investment Management Pty Ltd (ACN 116 943 456 PNI Option Plan Managers Pty Ltd (ACN 125 030 766) Pinnacle RE Services Limited (ACN 130 508 379) Pinnacle Services Administration Pty Ltd (ACN 126 175 148) Pinnacle Investment Management (UK) Limited (Company Number 11026111) POSH Nominees Pty Limited (ACN 620 094 251) Pingroup IM Limited (US) (EIN 85-0920129)	Relevant interest by virtue of section 608(3) of the Corporations Act as it or its associates holds directly or indirectly above 20% voting power in one or more affiliated investment managers (see Annexure A – Part 2) and Pinnacle Fund Services Limited, who each in turn hold relevant interests in the securities the subject of this notice.	7,551,553	Ordinary fully paid
Pinnacle Fund Services Limited (ACN 082 494 362)	Relevant interest held through the power to control voting and/or disposal of securities in its capacity as responsible entity or trustee of registered or unregistered schemes and/or relevant interest by virtue of section 608(3) of the Corporations Act as it or its associates holds directly or indirectly above 20% voting power in one or more affiliated investment managers (see Annexure A – Part 2) who each in turn hold relevant interests in the securities the subject of this notice.	7,551,553	Ordinary fully paid

This is Annexure "A - Part 1" as mentioned in form 603 Notice of initial substantial holder

==> picture [117 x 39] intentionally omitted <==

Calvin Kwok Company Secretary Date: 16/01/2025

Ansell Ltd

Annexure A - Part 2

Affiliated Investment Managers in which Pinnacle has over 20% voting power

Aikya Investment Management Limited (UK) (Company Number 12329682) Antipodes Partners Limited (ACN 602 042 035) Coolabah Capital Investments Pty Limited (ACN 605 806 059) Five V Capital Pty Limited (ACN 162 193 928) Hyperion Asset Management Limited (ACN 080 135 897) Langdon Equity Partners Limited (CA) (NRD 73210) Life Cycle Investment Partners Limited (UK) (Company Number 15633723) Metrics Credit Partners Pty Limited (ACN 150 646 996) Palisade Investment Partners Limited (ACN 124 326 361) Plato Investment Management Limited (ACN 120 730 136) Resolution Capital Limited (ACN 108 584 167) Solaris Investment Management Limited (ACN 128 512 621) Riparian Capital Partners Pty Ltd (ACN 630 179 752)

This is Annexure "A - Part 2" as mentioned in form 603 Notice of initial substantial holder

==> picture [114 x 37] intentionally omitted <==

Calvin Kwok Company Secretary Date: 16/01/2025

Ansell Ltd

Ansell Ltd	Ansell Ltd	Ansell Ltd	Ansell Ltd	Ansell Ltd
Annexure B
Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder	Number of securities	Class of securities
Pinnacle Investment Management Group Limited (and its subsidiaries listed in Annexure A)	BNP Paribas Australia Pty Ltd	BNP Paribas Autralia Pty Ltd	224,809	Ordinary fully paid
Pinnacle Investment Management Group Limited (and its subsidiaries listed in Annexure A)	Citicorp Nominees Pty Ltd	Citicorp Nominees Pty Ltd	853,650	Ordinary fully paid
Pinnacle Investment Management Group Limited (and its subsidiaries listed in Annexure A)	HSBC Custody Nominees (Australia)Ltd	HSBC Custody Nominees (Australia)Ltd	331,298	Ordinary fully paid
Pinnacle Investment Management Group Limited (and its subsidiaries listed in Annexure A)	JP Morgan Chase Nominees Pty Ltd	JP Morgan Chase Nominees PtyLtd	46,392	Ordinary fully paid
Pinnacle Investment Management Group Limited (and its subsidiaries listed in Annexure A)	National Nominees Ltd	National Nominees Ltd	1,515,295	Ordinary fully paid
Pinnacle Investment Management Group Limited (and its subsidiaries listed in Annexure A)	Northern Trust Corporation	Northern Trust Corporation	1,478,523	Ordinary fully paid
Pinnacle Investment Management Group Limited (and its subsidiaries listed in Annexure A)	RBC Investor Services Trust	RBC Investor Services Trust	251,202	Ordinary fully paid
Pinnacle Investment Management Group Limited (and its subsidiaries listed in Annexure A)	State Street Australia Ltd	State Street Australia Ltd	2,850,384	Ordinary fully paid

This is Annexure "B" of 1 page as mentioned in form 603 Notice of initial substantial holder

==> picture [116 x 37] intentionally omitted <==

Calvin Kwok Company Secretary Date: 16/01/2025

Ansell Ltd Annexure C

Ansell Ltd Annexure C
Holder of relevant interest	Trade Date	Consideration		Number of securities	Class of Securities
		Cash	Non-cash
Pinnacle Investment Management Group Limited (and its subsidiaries listed in Annexure A)	16/09/2024	305,497.67 $		10,000	ORDINARY FULLY PAID
As above	17/09/2024	718,198.53 -$		22,700 -	ORDINARY FULLY PAID
As above	18/09/2024	3,410,826.42 -$		108,411 -	ORDINARY FULLY PAID
As above	19/09/2024	315,054.91 $		10,000	ORDINARY FULLY PAID
As above	20/09/2024	3,951,534.33 -$		123,805 -	ORDINARY FULLY PAID
As above	23/09/2024	319,104.84 $		10,000	ORDINARY FULLY PAID
As above	24/09/2024	320,121.20 $		10,000	ORDINARY FULLY PAID
As above	26/09/2024	948,288.16 -$		30,000 -	ORDINARY FULLY PAID
As above	01/10/2024	642,337.07 $		20,000	ORDINARY FULLY PAID
As above	02/10/2024	645,539.47 $		20,000	ORDINARY FULLY PAID
As above	08/10/2024	44,690.55 -$		1,373 -	ORDINARY FULLY PAID
As above	09/10/2024	971,383.46 -$		29,759 -	ORDINARY FULLY PAID
As above	10/10/2024	3,716,935.89 -$		116,000 -	ORDINARY FULLY PAID
As above	15/10/2024	740,837.56 $		23,088	ORDINARY FULLY PAID
As above	16/10/2024	630,595.31 $		20,000	ORDINARY FULLY PAID
As above	17/10/2024	310,648.27 $		10,000	ORDINARY FULLY PAID
As above	18/10/2024	471,796.11 $		15,000	ORDINARY FULLY PAID
As above	23/10/2024	574,151.23 $		18,258	ORDINARY FULLY PAID
As above	24/10/2024	115,094.76 -$		3,695 -	ORDINARY FULLY PAID
As above	29/10/2024	637,033.24 $		20,000	ORDINARY FULLY PAID
As above	30/10/2024	758,302.89 $		25,000	ORDINARY FULLY PAID

As above	07/11/2024	3,571,222.62 $		111,531	ORDINARY FULLY PAID
As above	12/11/2024	1,987,615.60 -$		62,000 -	ORDINARY FULLY PAID
As above	13/11/2024	2,057,718.04 -$		65,000 -	ORDINARY FULLY PAID
As above	14/11/2024	146,332.96 -$		4,632 -	ORDINARY FULLY PAID
As above	15/11/2024	1,802,153.07 -$		56,368 -	ORDINARY FULLY PAID
As above	18/11/2024	1,741,964.87 -$		54,000 -	ORDINARY FULLY PAID
As above	19/11/2024	1,871,143.59 -$		57,204 -	ORDINARY FULLY PAID
As above	20/11/2024	45,314.87 $		1,307	ORDINARY FULLY PAID
As above	21/11/2024	726,108.08 -$		22,668 -	ORDINARY FULLY PAID
As above	22/11/2024	93,825.04 -$		2,894 -	ORDINARY FULLY PAID
As above	27/11/2024	985,002.21 -$		30,000 -	ORDINARY FULLY PAID
As above	28/11/2024	1,323,210.50 -$		40,000 -	ORDINARY FULLY PAID
As above	02/12/2024	398,992.67 -$		12,000 -	ORDINARY FULLY PAID
As above	04/12/2024	1,913,029.99 -$		57,600 -	ORDINARY FULLY PAID
As above	10/12/2024	822,203.14 -$		24,774 -	ORDINARY FULLY PAID
As above	12/12/2024	848,281.94 -$		25,984 -	ORDINARY FULLY PAID
As above	13/12/2024	6,517,747.01 $		198,173	ORDINARY FULLY PAID
As above	16/12/2024	364,046.64 -$		11,163 -	ORDINARY FULLY PAID
As above	17/12/2024	2,920,263.95 -$		88,000 -	ORDINARY FULLY PAID
As above	18/12/2024	26,030,924.96 $		770,000	ORDINARY FULLY PAID
As above	19/12/2024	948,662.06 -$		28,615 -	ORDINARY FULLY PAID
As above	20/12/2024	2,971,072.93 $		90,000	ORDINARY FULLY PAID
As above	23/12/2024	995,603.02 $		30,000	ORDINARY FULLY PAID
As above	23/12/2024	991,369.18 -$		30,000 -	ORDINARY FULLY PAID
As above	27/12/2024	1,845,602.73 -$		55,000 -	ORDINARY FULLY PAID
As above	30/12/2024	507,405.34 $		15,000	ORDINARY FULLY PAID
As above	31/12/2024	6,073,200.82 $		180,080	ORDINARY FULLY PAID

As above	02/01/2025	417,759.21 $		12,354	ORDINARY FULLY PAID
As above	03/01/2025	511,128.46 $		15,000	ORDINARY FULLY PAID
As above	06/01/2025	253,354.72 -$		7,486 -	ORDINARY FULLY PAID
As above	07/01/2025	109,516.77 $		3,236	ORDINARY FULLY PAID
As above	08/01/2025	124,992.55 -$		3,684 -	ORDINARY FULLY PAID
As above	09/01/2025	208,644.62 -$		6,189 -	ORDINARY FULLY PAID
As above	10/01/2025	2,329,692.46 -$		68,570 -	ORDINARY FULLY PAID
As above	13/01/2025	16,454,153.74 $		488,186	ORDINARY FULLY PAID

This is Annexure "C" as mentioned in form 603 Notice of initial substantial holder

==> picture [108 x 35] intentionally omitted <==

Calvin Kwok Company Secretary Date: 16/01/2025

Ansell Ltd Annexure D	Ansell Ltd Annexure D	Ansell Ltd Annexure D
Name	ACN	Nature of Association
Pinnacle Investment Management GroupLimited	100 325 184	Related bodycorporate of each other entitylisted in Annexure D.
Pinnacle Investment Management Limited	109 659 109	Related bodycorporate of each other entitylisted in Annexure D.
Pinnacle Fund Services Limited	082 494 362	Related bodycorporate of each other entitylisted in Annexure D.
Ariano PtyLimited	605 250 799	Related bodycorporate of each other entitylisted in Annexure D.
Next Financial Limited	081 722 894	Related bodycorporate of each other entitylisted in Annexure D.
Next Financial Nominees PtyLtd	093 252 576	Related bodycorporate of each other entitylisted in Annexure D.
Next Financial Nominees No. 2 PtyLtd	132 819 115	Related bodycorporate of each other entitylisted in Annexure D.
Investment Solutions Client Services PtyLtd	117 898 334	Related bodycorporate of each other entitylisted in Annexure D.
PriorityFunds Management PtyLtd	120 826 575	Related bodycorporate of each other entitylisted in Annexure D.
PriorityInvestment Management PtyLtd	116 943 456	Related bodycorporate of each other entitylisted in Annexure D.
PNI Option Plan Managers PtyLtd	116 943 456	Related bodycorporate of each other entitylisted in Annexure D.
Pinnacle RE Services Limited	130 508 379	Related bodycorporate of each other entitylisted in Annexure D.
Pinnacle Services Administration PtyLtd	126 175 148	Related bodycorporate of each other entitylisted in Annexure D.
Pinnacle Investment Management (UK) Limited	Company Number 11026111	Related body corporate of each other entity listed in Annexure D.
POSH Nominees PtyLimited	620 094 251	Related bodycorporate of each other entitylisted in Annexure D.
PingroupIM Limited(US)	EIN 85-0920129	Related bodycorporate of each other entitylisted in Annexure D.

This is Annexure "D" as mentioned in form 603 Notice of initial substantial holder

==> picture [110 x 36] intentionally omitted <==

Calvin Kwok Company Secretary Date: 16/01/2025

Ansell Ltd Annexure E	Ansell Ltd Annexure E
Name	Address
Pinnacle Investment Management Group Limited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Fund Services Limited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Investment Management Limited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Investment Management Group Limited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Investment Management Limited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Fund Services Limited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Ariano Pty Limited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Next Financial Limited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Next Financial Nominees Pty Ltd	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Next Financial Nominees No. 2 Pty Ltd	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Investment Solutions Client Services Pty Ltd	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Priority Funds Management Pty Ltd	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Priority Investment Management Pty Ltd	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
PNI Option Plan Managers Pty Ltd	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Investment Management (UK) Limited	7th Floor, Dashwood House, 69 Old Broad Street, London EC2M 1QS, United Kingdom
Pinnacle RE Services Limited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Services Administration Pty Ltd	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
POSH Nominees Pty Limited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
PingroupIM Limited(US)	c/o TMF GroupNew York,LLC,48 Wall Street,27thFloor,New York NY 10005

This is Annexure "E" as mentioned in form 603 Notice of initial substantial holder

==> picture [112 x 36] intentionally omitted <==

Calvin Kwok Company Secretary Date: 16/01/2025