APPEN LIMITED — Major Shareholding Notification 2015

Sep 17, 2015

604 page 1/2 15 July 2001

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme APPEN LIMITED ACN/ARSN 138 878 298

1. Details of substantial holder(1)

Name ANACACIA PARTNERSHIP 1 LP ACN/ARSN (if applicable) ABN 36 544 641 988

There was a change in the interests of the substantial holder on 16 / 09 / 2015 The previous notice was given to the company on 02 / 04 / 2015 The previous notice was dated 02 / 04 / 2015

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)	Previousnotice	Previousnotice	Presentnotice	Presentnotice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Ordinary Shares	23,827,955	25.12%	22,338,739	23.20%

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:

Dateofchange	Dateofchange	Person whoserelevant interestchanged	Natureofchange (6)	Considerationgiven in relationto change (7)	Class andnumberofsecurities	Person's votesaffected	Person's votesaffected
					affected
8/0	4/2015	AnacaciaPartnership 1LP	Disposal	$0.73 per share	15,000OrdinaryFully Paid	15,000
9/04/2015	4/2015	AnacaciaPartnership 1LP	Disposal	$0.73 per share	51,800OrdinaryFully Paid	51,800
10/04/2015		AnacaciaPartnership 1LP	Disposal	$0.73 per share	5,000OrdinaryFully Paid	5,000
13/04/2015		AnacaciaPartnership 1LP	Disposal	$0.73 per share	13,200OrdinaryFully Paid	13,200
16/09/2015		AnacaciaPartnership 1LP	Disposal	$1.00 per share	1,404,249OrdinaryFully Paid	1,404,249

604 page 2/2 15 July 2001

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

Holderof	Registered		Personentitled	Natureof	Class and	Person's votes
relevantinterest	holderof		to be registeredas	relevant	numberof
	securities		holder (8)	interest (6)	securities
Anacacia Partnership 1	Anacacia Capital	Not applicable		Registered Holder	22,338,739	22,338,739 votes
LP	as General Partner				Ordinary shares
	of the General
	Partner of Anacacia
	Partnership 1 LP

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 follows: Name Address Anacacia Partnership 1 LP Level 2, 53 Cross Street, Double Bay NSW 2028

6. Addresses

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

Signature print name Jeremy Samuel capacity Director and Secretary Anacacia Capital Pty Ltd

sign here 18/9/2015

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 6 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.