CAPRAL LIMITED — Major Shareholding Notification 2020

Feb 18, 2020

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|Form 604|
|Corporations Act 2001|
|Section 671B|
|Notice of change of interests of substantial holder|
|To: Company Name/Scheme:|CAPRAL LIMITED|
|ACN/ARSN|004 213 692|
|1. Details of substantial holder|
|Name|First Sentier Investors Holdings Pty Limited ACN 630 725 558 and its related bodies corporate listed in annexure A|
|There was a change in the interests of the|17/02/2020|
|substantial holder on|
|The previous notice was given to the company on|08/08/2019|
|The previous notice was dated|02/08/2019|

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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 had a relevant interest in when last required, and when now required, to give a substantial holding notice to the company or scheme are as follows:

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Class of securities Previous notice Present notice
Person’s votes Voting power (%) Person’s votes Voting power (%)
Fully Paid ordinary shares 42,607,316 8.80 48,391,513 9.99
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*Note these securities are comprised of 44,877,497 shares in which First Sentier Investors Holdings Pty Limited and its subsidiaries have voting power and 3,514,016 securities in which First Sentier Investors Holdings Pty Limited's ultimate parent, Mitsubishi UFJ Financial Group, Inc. on and from 2 August 2019, has informed it that it has voting power prior to the date of this notice.

3. Changes in relevant interest

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:

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||||||||
|---|---|---|---|---|---|---|
|Date of change|Person whose relevant interest changed|Nature of change|Consideration given in relation to change|Class and number of securities affected|Person's votesaffected|
|See annexure B to this notice|
|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 securities|Person entitled to be registered as holder|Nature of relevant interest|Class and number of securities|Person's votes|
|Relevant interest under paragraph|
|608(1)(b) and/or 608(1)(c) of the|
|Corporations Act 2001 (Cth), being a|
|relevant interest arising from having the|
|power to control the exercise of the right|
|to vote attached to securities and/or to|
|control the exercise of the power to|
|dispose of securities in its capacity as|
|First Sentier Investors (Australia) IM Ltd ACN 114 194 311|Citicorp Nominees Pty Limited (Australia)|investment manager (as provided for under its investment mandates). In addition, if any OTC derivatives, warrants or other securities (other than|44,877,497|[Fully paid ]|ordinary shares|44,877,497|
|ordinary shares or ordinary units (as|
|applicable)) are referred to below in this|
|row, the relevant interest in respect of|
|those securities arises under subsection|
|608(8) being an accelerated relevant|
|interest held in the same capacity.|

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MUFJ owns 100% of Carol (indirectly)
and has informed Carol that it has a
relevant interest in the shares noted in
this column. Accordingly, Carol has a
relevant interest or voting power in those
shares pursuant to section 608(3) or
section 12(2)(a) of the Corporations Act
Mitsubishi UFJ Financial Unknown (as relevant). MUFJ has not provided any further details of that relevant 3,514,016 [Fully paid ] 3,514,016
Group, Inc. Not Applicable interest - accordingly no transaction ordinary shares
information is recorded in Appendix B or
holder information is recorded in Section
4. Reference is made to any
subsequent filing of MUFJ which will
reflect this interest.
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5. Changes in association

The persons who have become associates of, ceased to be associates of, or have changed the nature of their association 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

6. Addresses

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

Name Address First Sentier Investors (Australia) IM Ltd ACN 114 194 311 Level 5, Tower Three International Towers Sydney, 300 Barangaroo Avenue, Barangaroo NSW 2000 Mitsubishi UFJ Financial Group, Inc. Not Applicable 2-7-1, Marunouchi, Chiyoda-ku, Tokyo 100-8330, Japan

Signature

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Dated the 19 day of February 2020
Rachel Lim - Company Secretary
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Annexure A

This is annexure A referred to in Form 604, Notice of change of interest of substantial holder dated 17/02/2020

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Rachel Lim - Company Secretary Dated the 19/02/2020

SCHEDULE

CFSPAI EUROPE CO LIMITED (COMPANY CODE C41267) CFSPAI EUROPE HOLDCO LIMITED (COMPANY CODE C41260) COLONIAL FIRST STATE INVESTMENT MANAGERS (UK) LIMITED (COMPANY NO. 00153197) EDIF II GP S.A.R.L (COMPANY NO. B204413) FIRST SENTIER INVESTORS (AUSTRALIA) SERVICES PTY LIMITED (ACN 624 305 595) FIRST SENTIER INVESTORS (AUSTRALIA) IM LTD (ACN 114 194 311) FIRST SENTIER INVESTORS (AUSTRALIA) INFRASTRUCTURE HOLDINGS LTD (ACN 085 313 926) FIRST SENTIER INVESTORS (AUSTRALIA) INFRASTRUCTURE MANAGERS PTY LTD (ACN 101 384 294) FIRST SENTIER INVESTORS (AUSTRALIA) IP HOLDINGS PTY LIMITED (ACN 625 765 399) FIRST SENTIER INVESTORS (AUSTRALIA) RE LTD (ACN 006 464 428) FIRST SENTIER INVESTORS ASIA HOLDINGS LIMITED (ACN 054 571 701) FIRST SENTIER INVESTORS REALINDEX PTY LTD (ACN 133 312 017) FIRST STATE EUROPEAN DIVERSIFIED INFRASTRUCTURE S.A.R.L (COMPANY NO. B134314) FIRST STATE INFRASTRUCTURE MANAGERS (INTERNATIONAL) LIMITED (COMPANY NO. 298444) FIRST STATE INVESTMENT MANAGEMENT (UK) LIMITED (COMPANY NO. SC047708) FIRST STATE INVESTMENT SERVICES (UK) LIMITED (COMPANY NO. 03904320) FIRST STATE INVESTMENTS (HONG KONG) LIMITED (CR NO. 0206616) FIRST STATE INVESTMENTS (IRELAND) LIMITED (COMPANY NO. 629188) FIRST STATE INVESTMENTS (JAPAN) LIMITED (COMPANY NUMBER 0104-01-093090) FIRST STATE INVESTMENTS (SINGAPORE) (COMPANY NO. 02294743) FIRST STATE INVESTMENTS (UK HOLDINGS) LIMITED (COMPANY NO. 03904310) FIRST STATE INVESTMENTS (UK) LIMITED (COMPANY NO. 02294743) FIRST STATE INVESTMENTS (US) LLC (FILE NUMBER 546 9442) FIRST STATE INVESTMENTS FUND MANAGEMENT S.A.R.L (COMPANY NO. B128117) FIRST STATE INVESTMENTS HOLDINGS (SINGAPORE) LIMITED (REGISTRATION NO. 199901706Z) FIRST STATE INVESTMENTS INTERNATIONAL LIMITED (COMPANY NO. SC079063) FIRST STATE NOMINEES (HONG KONG) LIMITED (CR NO. 0206615) FSIB LTD (REGISTRATION NO. 26193) MITSUBISHI UFJ FINANCIAL GROUP, INC (REGISTRATION NO. 0100-01-073486) MITSUBISHI UFJ TRUST AND BANKING CORPORATION (REGISTRATION NO. 0100-01-008770) SI HOLDINGS LIMITED (COMPANY NO. SC109439) TOTAL KEEN INVESTMENT LIMITED (CR NO. 0580652)

Annexure B

This is annexure B referred to in Form 604, Notice of change of interest of substantial holder dated 17/02/2020

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Rachel Lim - Company Secretary Dated the 19/02/2020

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Person's
Date of change Person whose relevant interest changed Nature of change Consideration given in relation to change Class and number of securities affected affectedvotes
First Sentier Investors (Australia) IM 637,016 Ordinary shares
Wednesday, 04 September 2019 Ltd ACN 114 194 311 Purchase 70,008.06 637,016
First Sentier Investors (Australia) IM 611,079 Ordinary shares
Thursday, 05 September 2019 Ltd ACN 114 194 311 Purchase 67,218.69 611,079
First Sentier Investors (Australia) IM 500,000 Ordinary shares
Monday, 09 September 2019 Ltd ACN 114 194 311 Purchase 57,500.00 500,000
First Sentier Investors (Australia) IM 28,000 Ordinary shares
Tuesday, 10 September 2019 Ltd ACN 114 194 311 Purchase 3,080.00 28,000
First Sentier Investors (Australia) IM 134,483 Ordinary shares
Thursday, 12 September 2019 Ltd ACN 114 194 311 Purchase 14,793.13 134,483
First Sentier Investors (Australia) IM 375,495 Ordinary shares
Friday, 13 September 2019 Ltd ACN 114 194 311 Purchase 41,304.45 375,495
First Sentier Investors (Australia) IM 197,500 Ordinary shares
Monday, 16 September 2019 Ltd ACN 114 194 311 Purchase 22,712.50 197,500
First Sentier Investors (Australia) IM 1,702,500 Ordinary shares
Thursday, 19 September 2019 Ltd ACN 114 194 311 Purchase 201,405.75 1,702,500
First Sentier Investors (Australia) IM 492,994 Ordinary shares
Friday, 14 February 2020 Ltd ACN 114 194 311 Purchase 68,871.26 492,994
First Sentier Investors (Australia) IM 1,085,400 Ordinary shares
Monday, 17 February 2020 Ltd ACN 114 194 311 Purchase 159,119.64 1,085,400
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