APPEN LIMITED — Major Shareholding Notification 2021

Apr 8, 2021

605 page 1/2

15 July 2001

Form 605 Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

ToCompany Name/Scheme ACN/ARSN 1. Details of substantial holder (1) Name ACN/ARSN (if applicable) The holder ceased to be a substantial holder on The previous notice was given to the company on The previous notice was dated		Appen Limited
		138 878 298
		Vanguard Group (The Vanguard Group, Inc. and its controlled entities including those
		listed in Annexure A)
		N/A
		6 April 2021 23 September 2020 23 September 2020

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) 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 (4)	Consideration given in relation to change(5)	Class (6) and number of securities affected	Person's votes affected
See Annexure A					Vanguard Group now holds 4.860% of voting power

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) 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
N/A	N/A

4. Addresses

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

Name	Address
Vanguard Group	P.O. Box 2600, V26 Valley Forge, PA 19482 USA

Signature

print name sign here	Shawn Acker capacity Compliance Manager
	date 8 April 2021

605 page 2/2

15 July 2001

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 4 of the form.

• (2) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

• (3) See the definition of "associate" in section 9 of the Corporations Act 2001.

• (4) 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.

• (5) 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.

• (6) The voting shares of a company constitute one class unless divided into separate classes.

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

Annexure A

To Company ACN/ARSN Substantial Holder Name ACN/ARSN	Appen Limited
	138 878 298
	Vanguard Group
	N/A

Date of change	Person whose relevant interest changed	Nature of Change(6)	Consideration given in relation to change(7)	Class	Number of securities affected	Person's votes affected
24-Sep-2020	The Vanguard Group,Inc.	BUY	32.49	Ordinary	1,385	1,385
29-Sep-2020	The Vanguard Group,Inc.	SELL	33.80	Ordinary	(46,572)	(46,572)
29-Sep-2020	The Vanguard Group,Inc.	BUY	33.80	Ordinary	46,572	46,572
2-Oct-2020	The Vanguard Group,Inc.	BUY	34.03	Ordinary	978	978
2-Oct-2020	The Vanguard Group,Inc.	BUY	34.00	Ordinary	62	62
5-Oct-2020	The Vanguard Group,Inc.	BUY	34.15	Ordinary	412	412
9-Oct-2020	The Vanguard Group,Inc.	BUY	35.31	Ordinary	2,119	2,119
9-Oct-2020	The Vanguard Group,Inc.	BUY	35.31	Ordinary	815	815
12-Oct-2020	The Vanguard Group,Inc.	BUY	36.21	Ordinary	774	774
16-Oct-2020	The Vanguard Group,Inc.	BUY	35.68	Ordinary	585	585
22-Oct-2020	The Vanguard Group,Inc.	SELL	35.32	Ordinary	(3,861)	(3,861)
26-Oct-2020	The Vanguard Group,Inc.	BUY	34.60	Ordinary	778	778
27-Oct-2020	The Vanguard Group,Inc.	BUY	33.29	Ordinary	412	412
30-Oct-2020	The Vanguard Group,Inc.	BUY	32.32	Ordinary	2,307	2,307
30-Oct-2020	The Vanguard Group,Inc.	BUY	33.60	Ordinary	4,160	4,160
30-Oct-2020	The Vanguard Group,Inc.	BUY	32.32	Ordinary	980	980
5-Nov-2020	The Vanguard Group,Inc.	BUY	35.39	Ordinary	620	620
10-Nov-2020	The Vanguard Group,Inc.	BUY	35.91	Ordinary	19,571	19,571
20-Nov-2020	The Vanguard Group,Inc.	BUY	33.21	Ordinary	780	780
20-Nov-2020	The Vanguard Group,Inc.	BUY	33.63	Ordinary	6,889	6,889
25-Nov-2020	The Vanguard Group,Inc.	BUY	31.93	Ordinary	2,996	2,996
25-Nov-2020	The Vanguard Group,Inc.	BUY	33.86	Ordinary	112	112
26-Nov-2020	The Vanguard Group,Inc.	BUY	31.78	Ordinary	414	414
2-Dec-2020	The Vanguard Group,Inc.	BUY	31.02	Ordinary	888	888
7-Dec-2020	The Vanguard Group,Inc.	BUY	29.98	Ordinary	207	207
8-Dec-2020	The Vanguard Group,Inc.	BUY	29.97	Ordinary	1,134	1,134
9-Dec-2020	The Vanguard Group,Inc.	BUY	29.71	Ordinary	378	378
15-Dec-2020	The Vanguard Group,Inc.	BUY	24.91	Ordinary	882	882
16-Dec-2020	The Vanguard Group,Inc.	BUY	24.77	Ordinary	207	207
18-Dec-2020	The Vanguard Group,Inc.	BUY	24.85	Ordinary	206	206
18-Dec-2020	The Vanguard Group,Inc.	SELL	24.87	Ordinary	(9,094)	(9,094)
18-Dec-2020	The Vanguard Group,Inc.	SELL	24.85	Ordinary	(980)	(980)
21-Dec-2020	The Vanguard Group,Inc.	BUY	24.49	Ordinary	206	206
22-Dec-2020	The Vanguard Group,Inc.	BUY	24.60	Ordinary	630	630
24-Dec-2020	The Vanguard Group,Inc.	BUY	24.66	Ordinary	207	207
24-Dec-2020	The Vanguard Group,Inc.	BUY	25.38	Ordinary	5,419	5,419
31-Dec-2020	The Vanguard Group,Inc.	SELL	24.77	Ordinary	(1,534)	(1,534)
31-Dec-2020	The Vanguard Group,Inc.	BUY	24.77	Ordinary	1,534	1,534
5-Jan-2021	The Vanguard Group,Inc.	BUY	24.91	Ordinary	206	206
5-Jan-2021	The Vanguard Group,Inc.	BUY	24.91	Ordinary	1,785	1,785
6-Jan-2021	The Vanguard Group,Inc.	BUY	24.37	Ordinary	504	504
7-Jan-2021	The Vanguard Group,Inc.	BUY	23.97	Ordinary	2,268	2,268
8-Jan-2021	The Vanguard Group,Inc.	BUY	23.49	Ordinary	1,572	1,572
11-Jan-2021	The Vanguard Group,Inc.	BUY	22.51	Ordinary	205	205
12-Jan-2021	The Vanguard Group,Inc.	BUY	22.58	Ordinary	378	378
12-Jan-2021	The Vanguard Group,Inc.	BUY	22.58	Ordinary	1,008	1,008
12-Jan-2021	The Vanguard Group,Inc.	BUY	22.52	Ordinary	9,481	9,481
13-Jan-2021	The Vanguard Group,Inc.	BUY	22.54	Ordinary	917	917
13-Jan-2021	The Vanguard Group,Inc.	BUY	22.80	Ordinary	1,994	1,994
18-Jan-2021	The Vanguard Group,Inc.	BUY	22.60	Ordinary	206	206
21-Jan-2021	The Vanguard Group,Inc.	BUY	23.03	Ordinary	1,134	1,134
21-Jan-2021	The Vanguard Group,Inc.	BUY	23.03	Ordinary	524	524
22-Jan-2021	The Vanguard Group,Inc.	BUY	22.70	Ordinary	410	410
25-Jan-2021	The Vanguard Group,Inc.	BUY	23.33	Ordinary	1,179	1,179
27-Jan-2021	The Vanguard Group,Inc.	BUY	22.94	Ordinary	205	205
28-Jan-2021	The Vanguard Group,Inc.	BUY	22.60	Ordinary	816	816
29-Jan-2021	The Vanguard Group,Inc.	BUY	22.33	Ordinary	218	218
29-Jan-2021	The Vanguard Group,Inc.	BUY	22.15	Ordinary	378	378
29-Jan-2021	The Vanguard Group,Inc.	BUY	22.15	Ordinary	816	816
4-Feb-2021	The Vanguard Group,Inc.	BUY	22.73	Ordinary	942	942
5-Feb-2021	The Vanguard Group,Inc.	SELL	22.76	Ordinary	(2,146)	(2,146)

Page 1 of 3

Annexure A

Date of change	Person whose relevant interest changed	Nature of Change(6)	Consideration given in relation to change(7)	Class	Number of securities affected	Person's votes affected
10-Feb-2021	The Vanguard Group,Inc.	BUY	24.05	Ordinary	504	504
10-Feb-2021	The Vanguard Group,Inc.	BUY	24.05	Ordinary	1,764	1,764
10-Feb-2021	The Vanguard Group,Inc.	BUY	24.05	Ordinary	471	471
11-Feb-2021	The Vanguard Group,Inc.	BUY	23.63	Ordinary	504	504
11-Feb-2021	The Vanguard Group,Inc.	BUY	23.63	Ordinary	1,256	1,256
12-Feb-2021	The Vanguard Group,Inc.	BUY	23.28	Ordinary	378	378
12-Feb-2021	The Vanguard Group,Inc.	BUY	23.28	Ordinary	1,422	1,422
15-Feb-2021	The Vanguard Group,Inc.	BUY	23.36	Ordinary	6,879	6,879
17-Feb-2021	The Vanguard Group,Inc.	BUY	23.11	Ordinary	1,292	1,292
22-Feb-2021	The Vanguard Group,Inc.	SELL	20.57	Ordinary	(412)	(412)
22-Feb-2021	The Vanguard Group,Inc.	SELL	20.47	Ordinary	(2,405)	(2,405)
25-Feb-2021	The Vanguard Group,Inc.	BUY	16.86	Ordinary	93	93
9-Mar-2021	The Vanguard Group,Inc.	BUY	17.02	Ordinary	1,260	1,260
17-Mar-2021	The Vanguard Group,Inc.	SELL	18.32	Ordinary	(208)	(208)
19-Mar-2021	The Vanguard Group,Inc.	SELL	18.47	Ordinary	(48)	(48)
23-Mar-2021	The Vanguard Group,Inc.	BUY	18.20	Ordinary	73	73
21-Sep-2020	Vanguard Investments Australia Ltd.	BUY	31.46	Ordinary	1,301	1,301
21-Sep-2020	Vanguard Investments Australia Ltd.	BUY	31.46	Ordinary	14,058	14,058
21-Sep-2020	Vanguard Investments Australia Ltd.	BUY	31.47	Ordinary	339	339
24-Sep-2020	Vanguard Investments Australia Ltd.	SELL	32.49	Ordinary	(1,780)	(1,780)
24-Sep-2020	Vanguard Investments Australia Ltd.	BUY	32.49	Ordinary	420	420
25-Sep-2020	Vanguard Investments Australia Ltd.	BUY	32.80	Ordinary	1,110	1,110
28-Sep-2020	Vanguard Investments Australia Ltd.	BUY	32.91	Ordinary	1,335	1,335
29-Sep-2020	Vanguard Investments Australia Ltd.	BUY	34.08	Ordinary	333	333
30-Sep-2020	Vanguard Investments Australia Ltd.	BUY	34.08	Ordinary	1,110	1,110
2-Oct-2020	Vanguard Investments Australia Ltd.	BUY	34.18	Ordinary	2,971	2,971
2-Oct-2020	Vanguard Investments Australia Ltd.	BUY	34.18	Ordinary	174	174
2-Oct-2020	Vanguard Investments Australia Ltd.	BUY	34.18	Ordinary	2,971	2,971
5-Oct-2020	Vanguard Investments Australia Ltd.	BUY	34.15	Ordinary	1,635	1,635
6-Oct-2020	Vanguard Investments Australia Ltd.	BUY	34.29	Ordinary	617	617
6-Oct-2020	Vanguard Investments Australia Ltd.	BUY	34.29	Ordinary	7,008	7,008
6-Oct-2020	Vanguard Investments Australia Ltd.	BUY	34.29	Ordinary	7,166	7,166
6-Oct-2020	Vanguard Investments Australia Ltd.	BUY	34.32	Ordinary	1,090	1,090
7-Oct-2020	Vanguard Investments Australia Ltd.	BUY	34.53	Ordinary	1,335	1,335
12-Oct-2020	Vanguard Investments Australia Ltd.	BUY	36.21	Ordinary	174	174
13-Oct-2020	Vanguard Investments Australia Ltd.	BUY	36.19	Ordinary	1,100	1,100
19-Oct-2020	Vanguard Investments Australia Ltd.	SELL	36.29	Ordinary	(6,691)	(6,691)
20-Oct-2020	Vanguard Investments Australia Ltd.	BUY	36.71	Ordinary	6,270	6,270
23-Oct-2020	Vanguard Investments Australia Ltd.	BUY	35.00	Ordinary	1,100	1,100
27-Oct-2020	Vanguard Investments Australia Ltd.	BUY	33.29	Ordinary	10,926	10,926
27-Oct-2020	Vanguard Investments Australia Ltd.	BUY	33.29	Ordinary	1,780	1,780
28-Oct-2020	Vanguard Investments Australia Ltd.	BUY	34.02	Ordinary	1,090	1,090
29-Oct-2020	Vanguard Investments Australia Ltd.	BUY	33.61	Ordinary	880	880
30-Oct-2020	Vanguard Investments Australia Ltd.	BUY	32.44	Ordinary	2,058	2,058
30-Oct-2020	Vanguard Investments Australia Ltd.	BUY	32.32	Ordinary	1,335	1,335
30-Oct-2020	Vanguard Investments Australia Ltd.	BUY	32.32	Ordinary	2,977	2,977
3-Nov-2020	Vanguard Investments Australia Ltd.	BUY	33.76	Ordinary	1,090	1,090
4-Nov-2020	Vanguard Investments Australia Ltd.	BUY	35.22	Ordinary	1,635	1,635
4-Nov-2020	Vanguard Investments Australia Ltd.	BUY	35.22	Ordinary	438	438
5-Nov-2020	Vanguard Investments Australia Ltd.	BUY	35.39	Ordinary	218	218
10-Nov-2020	Vanguard Investments Australia Ltd.	BUY	33.11	Ordinary	1,853	1,853
11-Nov-2020	Vanguard Investments Australia Ltd.	BUY	33.23	Ordinary	1,338	1,338
13-Nov-2020	Vanguard Investments Australia Ltd.	BUY	33.94	Ordinary	1,887	1,887
13-Nov-2020	Vanguard Investments Australia Ltd.	BUY	33.94	Ordinary	5,883	5,883
17-Nov-2020	Vanguard Investments Australia Ltd.	BUY	32.95	Ordinary	892	892
17-Nov-2020	Vanguard Investments Australia Ltd.	BUY	32.95	Ordinary	1,110	1,110
20-Nov-2020	Vanguard Investments Australia Ltd.	BUY	33.21	Ordinary	352	352
20-Nov-2020	Vanguard Investments Australia Ltd.	BUY	33.21	Ordinary	176	176
23-Nov-2020	Vanguard Investments Australia Ltd.	BUY	33.12	Ordinary	1,332	1,332
25-Nov-2020	Vanguard Investments Australia Ltd.	BUY	31.93	Ordinary	3,219	3,219
26-Nov-2020	Vanguard Investments Australia Ltd.	SELL	31.78	Ordinary	(5,637)	(5,637)
26-Nov-2020	Vanguard Investments Australia Ltd.	BUY	31.78	Ordinary	15,684	15,684
26-Nov-2020	Vanguard Investments Australia Ltd.	BUY	31.78	Ordinary	1,338	1,338
30-Nov-2020	Vanguard Investments Australia Ltd.	SELL	31.53	Ordinary	(6,733)	(6,733)
1-Dec-2020	Vanguard Investments Australia Ltd.	BUY	32.34	Ordinary	1,680	1,680
2-Dec-2020	Vanguard Investments Australia Ltd.	BUY	31.02	Ordinary	1,808	1,808
3-Dec-2020	Vanguard Investments Australia Ltd.	BUY	30.49	Ordinary	17,757	17,757
3-Dec-2020	Vanguard Investments Australia Ltd.	BUY	30.49	Ordinary	88	88

Page 2 of 3

Annexure A

Date of change	Person whose relevant interest changed	Nature of Change(6)	Consideration given in relation to change(7)	Class	Number of securities affected	Person's votes affected
4-Dec-2020	Vanguard Investments Australia Ltd.	BUY	29.74	Ordinary	1,140	1,140
7-Dec-2020	Vanguard Investments Australia Ltd.	SELL	29.98	Ordinary	(2,773)	(2,773)
8-Dec-2020	Vanguard Investments Australia Ltd.	BUY	29.84	Ordinary	850	850
9-Dec-2020	Vanguard Investments Australia Ltd.	SELL	29.92	Ordinary	(1,495)	(1,495)
11-Dec-2020	Vanguard Investments Australia Ltd.	BUY	25.44	Ordinary	1,495	1,495
11-Dec-2020	Vanguard Investments Australia Ltd.	BUY	25.44	Ordinary	264	264
14-Dec-2020	Vanguard Investments Australia Ltd.	BUY	25.25	Ordinary	1,272	1,272
15-Dec-2020	Vanguard Investments Australia Ltd.	BUY	24.62	Ordinary	1,140	1,140
16-Dec-2020	Vanguard Investments Australia Ltd.	BUY	24.77	Ordinary	1,140	1,140
17-Dec-2020	Vanguard Investments Australia Ltd.	BUY	25.07	Ordinary	1,482	1,482
18-Dec-2020	Vanguard Investments Australia Ltd.	BUY	24.85	Ordinary	848	848
22-Dec-2020	Vanguard Investments Australia Ltd.	BUY	24.54	Ordinary	2,260	2,260
29-Dec-2020	Vanguard Investments Australia Ltd.	BUY	25.25	Ordinary	846	846
30-Dec-2020	Vanguard Investments Australia Ltd.	BUY	24.80	Ordinary	1,269	1,269
4-Jan-2021	Vanguard Investments Australia Ltd.	BUY	25.51	Ordinary	1,110	1,110
5-Jan-2021	Vanguard Investments Australia Ltd.	SELL	24.91	Ordinary	(292)	(292)
6-Jan-2021	Vanguard Investments Australia Ltd.	BUY	24.10	Ordinary	1,320	1,320
11-Jan-2021	Vanguard Investments Australia Ltd.	BUY	22.51	Ordinary	1,257	1,257
12-Jan-2021	Vanguard Investments Australia Ltd.	BUY	22.54	Ordinary	795	795
14-Jan-2021	Vanguard Investments Australia Ltd.	BUY	22.70	Ordinary	1,744	1,744
19-Jan-2021	Vanguard Investments Australia Ltd.	BUY	23.08	Ordinary	550	550
20-Jan-2021	Vanguard Investments Australia Ltd.	BUY	23.30	Ordinary	1,257	1,257
20-Jan-2021	Vanguard Investments Australia Ltd.	BUY	23.30	Ordinary	174	174
28-Jan-2021	Vanguard Investments Australia Ltd.	BUY	22.40	Ordinary	1,430	1,430
2-Feb-2021	Vanguard Investments Australia Ltd.	BUY	23.04	Ordinary	1,540	1,540
3-Feb-2021	Vanguard Investments Australia Ltd.	BUY	23.14	Ordinary	2,034	2,034
3-Feb-2021	Vanguard Investments Australia Ltd.	BUY	23.14	Ordinary	174	174
5-Feb-2021	Vanguard Investments Australia Ltd.	BUY	22.88	Ordinary	330	330
5-Feb-2021	Vanguard Investments Australia Ltd.	BUY	22.88	Ordinary	432	432
8-Feb-2021	Vanguard Investments Australia Ltd.	BUY	22.76	Ordinary	1,704	1,704
8-Feb-2021	Vanguard Investments Australia Ltd.	BUY	22.76	Ordinary	1,278	1,278
10-Feb-2021	Vanguard Investments Australia Ltd.	BUY	24.19	Ordinary	1,430	1,430
11-Feb-2021	Vanguard Investments Australia Ltd.	BUY	23.61	Ordinary	770	770
16-Feb-2021	Vanguard Investments Australia Ltd.	BUY	25.46	Ordinary	1,278	1,278
19-Feb-2021	Vanguard Investments Australia Ltd.	BUY	21.60	Ordinary	4,716	4,716
22-Feb-2021	Vanguard Investments Australia Ltd.	SELL	20.57	Ordinary	(25,506)	(25,506)
22-Feb-2021	Vanguard Investments Australia Ltd.	BUY	20.57	Ordinary	1,080	1,080
26-Feb-2021	Vanguard Investments Australia Ltd.	SELL	16.64	Ordinary	(191,621)	(191,621)
26-Feb-2021	Vanguard Investments Australia Ltd.	BUY	16.69	Ordinary	1,278	1,278
26-Feb-2021	Vanguard Investments Australia Ltd.	BUY	16.69	Ordinary	1,080	1,080
3-Mar-2021	Vanguard Investments Australia Ltd.	BUY	16.38	Ordinary	2,160	2,160
5-Mar-2021	Vanguard Investments Australia Ltd.	BUY	15.80	Ordinary	1,090	1,090
8-Mar-2021	Vanguard Investments Australia Ltd.	BUY	16.13	Ordinary	264	264
9-Mar-2021	Vanguard Investments Australia Ltd.	BUY	16.93	Ordinary	327	327
10-Mar-2021	Vanguard Investments Australia Ltd.	BUY	17.48	Ordinary	1,308	1,308
17-Mar-2021	Vanguard Investments Australia Ltd.	BUY	18.32	Ordinary	1,275	1,275
17-Mar-2021	Vanguard Investments Australia Ltd.	BUY	18.32	Ordinary	1,090	1,090
19-Mar-2021	Vanguard Investments Australia Ltd.	SELL	18.47	Ordinary	(1,131)	(1,131)
29-Mar-2021	Vanguard Investments Australia Ltd.	BUY	16.77	Ordinary	848	848
30-Mar-2021	Vanguard Investments Australia Ltd.	BUY	16.33	Ordinary	1,243	1,243
30-Mar-2021	Vanguard Investments Australia Ltd.	BUY	16.33	Ordinary	1,469	1,469
31-Mar-2021	Vanguard Investments Australia Ltd.	BUY	15.83	Ordinary	166	166
1-Apr-2021	Vanguard Investments Australia Ltd.	SELL	16.38	Ordinary	(202,579)	(202,579)
6-Apr-2021	Vanguard Investments Australia Ltd.	BUY	16.58	Ordinary	339	339

This is Annexure A of 3 pages referred to in Form 605, Notice of ceasing to be a substantial holder. Signature: Name: Shawn Acker Capacity: Compliance Manager Date: 8 April 2021

Page 3 of 3