CALIX LIMITED — Major Shareholding Notification 2021

Feb 9, 2021

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme Calix Ltd ACN/ARSN: 36 117 372 540 Source:

Australian Business Register

1. Details of substantial holder (1)

Name: Perennial Value Management Limited (PVM) ACN/ARSN (if applicable) 22 090 879 904 There was a change in the interest of the substantial holder on 8 February 2021 The previous notice was given to the company on 4 February 2021 The previous notice was dated 2 February 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 relavant interest (3)

==> picture [414 x 28] intentionally omitted <==

----- Start of picture text -----

Class of securities (4) Previous notice Present notice
Person's votes Voting Power (%) (5) Person's votes Voting Power (%) (5)
Ordinary 21,508,315 14.48 20,015,690 13.46
----- End of picture text -----

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

Date	of	change		Person whose relevant	Nature of change (6)	Consideration given in	Consideration given in	Class & number of		Person's votes affected
				interest changed		relation to change (7)		securities affected
			3/02/2021	BNP Paribas Securities	Sell On the Market	$	81,247.74		53,595	53,595
				Services
			3/02/2021	National Asset Servicing	Sell On the Market	$	130,774.08		86,265	86,265
			3/02/2021	Northern Trust	Sell On the Market	$	131,553.27		86,779	86,779
			4/02/2021	BNP Paribas Securities	Sell On the Market	$	205,229.51		130,360	130,360
				Services
			4/02/2021	National Asset Servicing	Sell On the Market	$	330,327.25		209,821	209,821
			4/02/2021	Northern Trust	Sell On the Market	$	332,295.15		211,071	211,071
			5/02/2021	BNP Paribas Securities	Sell On the Market	$	329,254.43		193,992	193,992
				Services
			5/02/2021	BNP Paribas Securities	Sell On the Market	$	109,853.31		64,724	64,724
				Services
			5/02/2021	National Asset Servicing	Sell On the Market	$	198,548.61		116,982	116,982
			5/02/2021	Northern Trust	Sell On the Market	$	199,237.70		117,388	117,388
			8/02/2021	BNP Paribas Securities	Sell On the Market	$	66,629.11		37,462	37,462
				Services
			8/02/2021	BNP Paribas Securities	Sell On the Market	$	111,519.90		62,871	62,871
				Services
			8/02/2021	National Asset Servicing	Sell On the Market	$	40,288.36		22,652	22,652
			8/02/2021	National Asset Servicing	Sell On the Market	$	67,235.47		37,905	37,905
			8/02/2021	Northern Trust	Sell On the Market	$	40,409.30		22,720	22,720
			8/02/2021	Northern Trust	Sell On the Market	$	67,471.39		38,038	38,038

4. Present Relevant Interests

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

Holder of relevant interest	Registered holder of	Person entitled to be	Nature of relevant	Nature of relevant	Class & number	Class & number	of	Person's votes	Person's votes
	securities	registered as holder (8)	interest (6)		securities (Ord)
Perennial Value Management Limited	National Asset Servicing	National Asset Servicing		10,389,986		10,389,986			10,389,986
Perennial Value Management	Northern Trust	Northern Trust		2,099,891			2,099,891			2,099,891
Limited
Perennial Value Management Limited	BNP Paribas Securities Services	BNP Paribas Securities Services		3,091,538			3,091,538			3,091,538
Perennial Value Management Limited	Citicorp Nominees Pty Limited	Citicorp Nominees Pty Limited		4,434,275			4,434,275			4,434,275

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

Name & ACN Nature of association Not applicable

6. Addresses

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

==> picture [335 x 107] intentionally omitted <==

----- Start of picture text -----

Name Address
Perennial Value Management Ltd Level 27, 88 Phillip St
Sydney NSW 2000
Calix Ltd Calix Ltd9-11 Bridge Street Level 1, Pymble, Nsw 2073
Signature
Print Name Bill Anastasopoulos Capacity Company Secretary
Sign Here Date 10/02/2021
----- End of picture text -----

==> picture [488 x 120] intentionally omitted <==

==> picture [489 x 49] intentionally omitted <==