BEGA CHEESE LIMITED — Major Shareholding Notification 2021

Dec 29, 2021

603 page 1/2

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme Bega Cheese Limited ACN/ARSN 008 358 503 1. Details of substantial holder (1) Tattarang AgriFood Investments Pty Ltd ACN 652 192 124 ( TAIPL ), Forrest & Forrest Pty Ltd ABN 38 088 052 180 Name ( FFPL ) and John Andrew Henry Forrest ( AF ) ACN/ARSN (if applicable) As above The holder became a substantial holder on 23 / 12 / 2021

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	Persons’ votes (5)	Voting power (6)
Fully Paid OrdinaryShares (Shares)	20,012,461	20,012,461	6.61%

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
TAIPL	Relevant interest under section 608(1)Corporations Act 2001 (Cth) (Act) asregisteredholderofthe Shares.	20,012,461 Shares
FFPL	Relevant interest under section 608(3) oftheAct asFFPLcontrolsTAIPL.	20,012,461 Shares
AF	Relevant interest under section 608(3) ofthe Act as AF has voting power of morethan 20%in FFPL.	20,012,461 Shares

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 relevantinterest	Registered holder ofsecurities	Person entitled to be registered as holder(8)	Class and numberof securities
TAIPL	TAIPL	TAIPL	20,012,461 Shares

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 relevantinterest	Date of acquisition	Consideration (9)		Class and numberof securities
		Cash	Non-cash
TAIPL	10/11/2021 –29/12/2021	$108,325,094		20,012,461 Shares

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 See above See above

7. Addresses

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

Name	Address
TAIPL, FFPL and AF	171-173	Mounts BayRoad, Perth WA	6000

Signature	Signature
	print nameAnn Louise AtkinscapacityCompany Secretary
	TattarangAgrifoodInvestmentsPtyLtd
	sign heredate 29/12/2021
	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 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.