CHALLENGER LIMITED — Major Shareholding Notification 2021

Sep 9, 2021

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Sydney

Level 2, 5 Martin Place Sydney NSW 2000 Australia GPO Box 3698 Sydney NSW 2001 www.challenger.com.au

Telephone 02 9994 7000 Facsimile 02 9994 7777

10 September 2021

The Manager Company Announcements Office ASX Limited 20 Bridge Street SYDNEY NSW 2000

By electronic lodgement

Dear Sir/Madam

Re: Notice of change of interests of substantial holder – Qube Holdings Limited (QUB)

We attach a notice of change of interests of substantial holder in Qube Holdings Limited. This notice is given by Challenger Limited and each of its associated entities named in Annexure 2 to this notice.

Yours faithfully

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Linda Matthews Company Secretary

Melbourne Level 19, 31 Queen Street PO Box 297, Flinders Lane, Melbourne VIC 3000 Telephone 02 9994 7000 Facsimile 02 9994 7777 Brisbane Level 6, 215 Adelaide Street, Brisbane QLD 4000 Telephone 07 3136 5400 Facsimile 07 3136 5407 Perth Level 26, 140 St Georges Terrace, Perth WA 6000 Telephone 08 6466 9613 Adelaide Level 7, Suite 714, 147 Pirie Street, Adelaide SA 5000 Telephone 08 8427 9511

Challenger Limited ABN 85 106 842 371 Challenger Group Services Pty Limited ABN 91 085 657 307 Challenger Life Company Limited ABN 44 072 486 938 AFSL 234670 Challenger Investment Partners Limited ABN 29 092 382 842 AFSL 234 678 Challenger Retirement and Investment Services Limited ABN 80 115 534 453 AFSL295642 RSE Licence No. L0001304 Challenger Mortgage Management Pty Ltd ABN 72 087 271 109 Challenger Securitisation Management Pty Ltd ABN 56 100 346 898 AFSL 244593 Challenger Investment Solutions Management Pty Ltd ABN 63 130 035 353 AFSL 487354

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Form 604

Corporations Act 2001 Section 671B Notice of change of interests of substantial holder

To Company Name/Scheme		Qube Holdings Limited	Qube Holdings Limited	Qube Holdings Limited
ACN/ARSN		149 723 053
1. Details of substantial holder(1)
Name		Challenger Limited(and its entities listed in Annexure						2)
ACN/ARSN (if applicable)		106 842 371
There was a change in the interests of the substantial		holder on		08/09/2021
The previous notice was given to the company on				16/04/2021
The previous notice was dated				16/04/2021
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 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:
Classof securities (4)		Previous notice				Present notice
	Person's	votes	Voting power (5)		Person's votes			Voting power (5)
Ordinary Fully Paid	95,885,263		5.03%		116,755,115			6.12%
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:
Date of change Person whose relevant		Nature of change (6)		Consideration given in		Class and number of			Person's votes
interest changed				relation to change (7)		securities affected			affected
Refer Challenger		Refer		Refer		Refer			Refer
Annexure 1 Limited (and its		Annexure 1		Annexure 1		Annexure 1			Annexure 1
entities listed in
Annexure 2)

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 (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
Challenger Limited (and its entities listed in Annexure 2)	BNP Paribas Nominees Pty Limited	BNP Paribas Nominees Pty Limited	Ordinary Fully Paid securities purchased and sold on market and acquired and sold (via off market transfer) by Challenger Limited (and its entities listed in Annexure 2) and obtains a relevant interest by virtue of section 608(3) of the Corporations Act 2001 (Cth).	1,702,378 (Ordinary Fully Paid)	1,702,378
Challenger Limited (and its entities listed in Annexure 2)	Citicorp Nominees Pty Limited	Citicorp Nominees Pty Limited	As above	29,916,366 (Ordinary Fully Paid)	29,916,366
Challenger Limited (and its entities listed in Annexure 2)	J. P. Morgan Nominees Australia Pty Limited	J. P. Morgan Nominees Australia Pty Limited	As above	24,486,467 (Ordinary Fully Paid)	24,486,467
Challenger Limited (and its entities listed in Annexure 2)	National Nominees Limited	National Nominees Limited	As above	10,140,100 (Ordinary Fully Paid)	10,140,100
Challenger Limited (and its entities listed in Annexure 2)	HSBC Custody Nominees (Australia) Limited	HSBC Custody Nominees (Australia) Limited	As above	50,509,804 (Ordinary Fully Paid)	50,509,804

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:

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Name and ACN/ARSN (if applicable) Nature of association
N/A N/A
6. Addresses
The addresses of persons named in this form are as follows:
Name Address
Challenger Limited (and its entities Level 2, 5 Martin Place, Sydney NSW 2000
listed in Annexure 2)
Signature
print name Linda Matthews Capacity Company Secretary
sign here date 10/09/2021
DIRECTIONS
----- End of picture text -----

• (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.

Annexure 1 consists of 6 pages and is referred to in Form 605 signed by me and dated 10/09/2021

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Linda Matthews Company Secretary of Challenger Limited

Transactions:

Company Name/Scheme: Qube Holdings Limited (QUB) As at: 08/09/2021 Class of security: Ordinary Fully Paid

Date of Change	Holder of relevant interest	Nature of Change	Consideration	Number of Securities	Person's Votes Affected
15/04/2021	Challenger Limited (and its entities listed in Annexure 2)	Buy	1,394,533	469,777	469,777
15/04/2021	as above	Buy	127,165	42,839	42,839
15/04/2021	as above	Buy	54,166	18,247	18,247
15/04/2021	as above	Buy	62,549	21,071	21,071
15/04/2021	as above	Buy	13,412	4,518	4,518
15/04/2021	as above	Buy	141,093	47,530	47,530
15/04/2021	as above	Buy	96,856	32,628	32,628
15/04/2021	as above	Buy	298,699	100,623	100,623
15/04/2021	as above	Buy	134,903	45,445	45,445
15/04/2021	as above	Buy	141,865	47,790	47,790
15/04/2021	as above	Buy	263,098	88,630	88,630
15/04/2021	as above	Buy	68,094	22,939	22,939
15/04/2021	as above	Buy	142,381	47,964	47,964
21/04/2021	as above	Buy	16,626	5,644	5,644
21/04/2021	as above	Buy	66,311	22,511	22,511
21/04/2021	as above	Buy	19,327	6,561	6,561
21/04/2021	as above	Buy	40,480	13,742	13,742
21/04/2021	as above	Buy	11,691	3,969	3,969
21/04/2021	as above	Buy	24,496	8,316	8,316
21/04/2021	as above	Buy	21,816	7,406	7,406
21/04/2021	as above	Buy	24,196	8,214	8,214
21/04/2021	as above	Buy	9,288	3,153	3,153
21/04/2021	as above	Buy	10,725	3,641	3,641
21/04/2021	as above	Buy	2,295	779	779
21/04/2021	as above	Buy	51,998	17,652	17,652
21/04/2021	as above	Buy	6,392	2,170	2,170
21/04/2021	as above	Buy	24,305	8,251	8,251
21/04/2021	as above	Buy	45,155	15,329	15,329
21/04/2021	as above	Buy	51,270	17,405	17,405
21/04/2021	as above	Buy	23,147	7,858	7,858
22/04/2021	as above	Sell	213,069	‐71,586	71,586
22/04/2021	as above	Sell	1,496,492	‐502,786	502,786
23/04/2021	as above	Buy	364,288	122,656	122,656

Page 1 of 6

Date of Change	Holder of relevant interest	Nature of Change	Consideration	Number of Securities	Person's Votes Affected
23/04/2021	as above	Buy	517,347	174,191	174,191
23/04/2021	as above	Buy	71,390	24,037	24,037
23/04/2021	as above	Buy	720,644	242,641	242,641
23/04/2021	as above	Buy	1,407,207	473,807	473,807
23/04/2021	as above	Buy	672,755	226,517	226,517
23/04/2021	as above	Buy	746,789	251,444	251,444
23/04/2021	as above	Buy	132,729	44,690	44,690
23/04/2021	as above	Buy	1,090,136	367,049	367,049
23/04/2021	as above	Buy	386,355	130,086	130,086
23/04/2021	as above	Buy	2,521,872	849,115	849,115
23/04/2021	as above	Buy	334,909	112,764	112,764
23/04/2021	as above	Buy	750,608	252,730	252,730
23/04/2021	as above	Buy	286,730	96,542	96,542
23/04/2021	as above	Buy	1,599,339	538,498	538,498
23/04/2021	as above	Buy	878,692	295,856	295,856
23/04/2021	as above	Buy	763,828	257,181	257,181
23/04/2021	as above	Sell	2,143,722	‐721,792	721,792
23/04/2021	as above	Sell	2,676,086	‐901,039	901,039
23/04/2021	as above	Sell	1,995,439	‐671,865	671,865
23/04/2021	as above	Sell	4,843,874	‐1,630,934	1,630,934
23/04/2021	as above	Sell	1,960,761	‐660,189	660,189
23/04/2021	as above	Sell	1,707,937	‐575,063	575,063
23/04/2021	as above	Sell	504,567	‐169,888	169,888
23/04/2021	as above	Sell	383,231	‐129,034	129,034
23/04/2021	as above	Buy	19,179	6,420	6,420
23/04/2021	as above	Buy	157,520	52,728	52,728
23/04/2021	as above	Buy	55,829	18,688	18,688
23/04/2021	as above	Buy	364,403	121,980	121,980
23/04/2021	as above	Buy	126,967	42,501	42,501
30/04/2021	as above	Buy	1,446,126	481,400	481,400
12/05/2021	as above	Buy	669,241	224,600	224,600
30/06/2021	as above	Sell	1,016,843	‐324,300	324,300
09/07/2021	as above	Sell - Transfer	719,999	‐246,575	246,575
09/07/2021	as above	Sell - Transfer	1,919,999	‐657,534	657,534
09/07/2021	as above	Buy	151,261	52,062	52,062
09/07/2021	as above	Buy	81,139	27,927	27,927
09/07/2021	as above	Buy	115,771	39,847	39,847
09/07/2021	as above	Buy	16,026	5,516	5,516
09/07/2021	as above	Buy	161,276	55,509	55,509
09/07/2021	as above	Buy	314,969	108,408	108,408
09/07/2021	as above	Buy	168,005	57,825	57,825
09/07/2021	as above	Buy	43,648	15,023	15,023
09/07/2021	as above	Buy	453,632	156,134	156,134
09/07/2021	as above	Buy	132,655	45,658	45,658
09/07/2021	as above	Buy	370,351	127,470	127,470
09/07/2021	as above	Buy	74,843	25,760	25,760
09/07/2021	as above	Buy	172,726	59,450	59,450
09/07/2021	as above	Buy	64,395	22,164	22,164
09/07/2021	as above	Buy	357,184	122,938	122,938
09/07/2021	as above	Buy	277,477	95,504	95,504
09/07/2021	as above	Buy	161,851	55,707	55,707
09/07/2021	as above	Buy	48,255	16,614	16,614
09/07/2021	as above	Buy	68,851	23,705	23,705
09/07/2021	as above	Buy	9,533	3,282	3,282
09/07/2021	as above	Buy	95,915	33,023	33,023

Page 2 of 6

Date of Change	Holder of relevant interest	Nature of Change	Consideration	Number of Securities	Person's Votes Affected
09/07/2021	as above	Buy	187,320	64,493	64,493
09/07/2021	as above	Buy	99,915	34,400	34,400
09/07/2021	as above	Buy	102,723	35,367	35,367
09/07/2021	as above	Buy	38,299	13,186	13,186
09/07/2021	as above	Buy	212,426	73,137	73,137
09/07/2021	as above	Buy	89,958	30,972	30,972
09/07/2021	as above	Buy	25,958	8,937	8,937
09/07/2021	as above	Buy	269,793	92,888	92,888
09/07/2021	as above	Buy	78,895	27,163	27,163
09/07/2021	as above	Buy	220,257	75,833	75,833
09/07/2021	as above	Buy	44,511	15,325	15,325
09/07/2021	as above	Buy	165,022	56,816	56,816
09/07/2021	as above	Buy	96,255	33,140	33,140
20/07/2021	as above	Sell	601,582	‐203,100	203,100
28/07/2021	as above	Buy- Transfer	20,245,173	6,981,094	6,981,094
03/08/2021	as above	Buy	12,342	4,213	4,213
03/08/2021	as above	Buy	48,690	16,620	16,620
03/08/2021	as above	Buy	89,072	30,404	30,404
03/08/2021	as above	Buy	100,966	34,464	34,464
03/08/2021	as above	Buy	40,109	13,691	13,691
03/08/2021	as above	Buy	46,797	15,974	15,974
03/08/2021	as above	Buy	30,690	10,476	10,476
03/08/2021	as above	Buy	128,220	43,767	43,767
03/08/2021	as above	Buy	37,496	12,799	12,799
03/08/2021	as above	Buy	78,425	26,770	26,770
03/08/2021	as above	Buy	22,950	7,834	7,834
03/08/2021	as above	Buy	106,971	36,514	36,514
03/08/2021	as above	Buy	42,643	14,556	14,556
03/08/2021	as above	Buy	45,687	15,595	15,595
03/08/2021	as above	Buy	18,172	6,203	6,203
03/08/2021	as above	Buy	21,137	7,215	7,215
03/08/2021	as above	Buy	4,503	1,537	1,537
03/08/2021	as above	Buy	73,551	25,106	25,106
03/08/2021	as above	Buy	7,756	2,647	2,647
03/08/2021	as above	Buy	30,598	10,443	10,443
03/08/2021	as above	Buy	55,978	19,105	19,105
03/08/2021	as above	Buy	63,452	21,656	21,656
03/08/2021	as above	Buy	25,207	8,603	8,603
03/08/2021	as above	Buy	29,411	10,038	10,038
03/08/2021	as above	Buy	19,288	6,583	6,583
03/08/2021	as above	Buy	80,584	27,503	27,503
03/08/2021	as above	Buy	23,566	8,043	8,043
03/08/2021	as above	Buy	49,288	16,822	16,822
03/08/2021	as above	Buy	14,424	4,923	4,923
03/08/2021	as above	Buy	67,229	22,945	22,945
03/08/2021	as above	Buy	26,801	9,147	9,147
03/08/2021	as above	Buy	28,711	9,799	9,799
03/08/2021	as above	Buy	11,421	3,898	3,898
03/08/2021	as above	Buy	13,285	4,534	4,534
03/08/2021	as above	Buy	2,830	966	966
03/08/2021	as above	Buy	46,224	15,776	15,776
03/08/2021	as above	Buy	11,458	3,904	3,904
03/08/2021	as above	Buy	45,202	15,401	15,401
03/08/2021	as above	Buy	82,691	28,174	28,174
03/08/2021	as above	Buy	93,735	31,937	31,937
03/08/2021	as above	Buy	37,236	12,687	12,687
03/08/2021	as above	Buy	43,447	14,803	14,803
03/08/2021	as above	Buy	28,493	9,708	9,708
03/08/2021	as above	Buy	119,041	40,559	40,559
03/08/2021	as above	Buy	34,812	11,861	11,861
03/08/2021	as above	Buy	72,809	24,807	24,807

Page 3 of 6

Date of Change	Holder of relevant interest	Nature of Change	Consideration	Number of Securities	Person's Votes Affected
03/08/2021	as above	Buy	21,305	7,259	7,259
03/08/2021	as above	Buy	99,309	33,836	33,836
03/08/2021	as above	Buy	39,590	13,489	13,489
03/08/2021	as above	Buy	42,414	14,451	14,451
03/08/2021	as above	Buy	16,870	5,748	5,748
03/08/2021	as above	Buy	19,623	6,686	6,686
03/08/2021	as above	Buy	4,182	1,425	1,425
03/08/2021	as above	Buy	68,283	23,265	23,265
03/08/2021	as above	Buy	9,891	3,370	3,370
03/08/2021	as above	Buy	39,018	13,294	13,294
03/08/2021	as above	Buy	71,379	24,320	24,320
03/08/2021	as above	Buy	80,912	27,568	27,568
03/08/2021	as above	Buy	32,144	10,952	10,952
03/08/2021	as above	Buy	37,503	12,778	12,778
03/08/2021	as above	Buy	24,595	8,380	8,380
03/08/2021	as above	Buy	102,760	35,012	35,012
03/08/2021	as above	Buy	30,049	10,238	10,238
03/08/2021	as above	Buy	62,847	21,413	21,413
03/08/2021	as above	Buy	18,391	6,266	6,266
03/08/2021	as above	Buy	85,725	29,208	29,208
03/08/2021	as above	Buy	34,175	11,644	11,644
03/08/2021	as above	Buy	36,611	12,474	12,474
03/08/2021	as above	Buy	14,563	4,962	4,962
03/08/2021	as above	Buy	16,938	5,771	5,771
03/08/2021	as above	Buy	3,610	1,230	1,230
03/08/2021	as above	Buy	58,941	20,082	20,082
04/08/2021	as above	Buy	11,580	3,941	3,941
04/08/2021	as above	Buy	45,679	15,546	15,546
04/08/2021	as above	Buy	83,565	28,440	28,440
04/08/2021	as above	Buy	94,725	32,238	32,238
04/08/2021	as above	Buy	37,631	12,807	12,807
04/08/2021	as above	Buy	43,904	14,942	14,942
04/08/2021	as above	Buy	28,795	9,800	9,800
04/08/2021	as above	Buy	120,297	40,941	40,941
04/08/2021	as above	Buy	35,177	11,972	11,972
04/08/2021	as above	Buy	73,575	25,040	25,040
04/08/2021	as above	Buy	21,532	7,328	7,328
04/08/2021	as above	Buy	100,358	34,155	34,155
04/08/2021	as above	Buy	40,008	13,616	13,616
04/08/2021	as above	Buy	42,861	14,587	14,587
04/08/2021	as above	Buy	17,051	5,803	5,803
04/08/2021	as above	Buy	19,831	6,749	6,749
04/08/2021	as above	Buy	4,225	1,438	1,438
04/08/2021	as above	Buy	69,003	23,484	23,484
05/08/2021	as above	Buy	565,852	192,140	192,140
05/08/2021	as above	Buy	304,669	103,453	103,453
05/08/2021	as above	Buy	407,176	138,260	138,260
05/08/2021	as above	Buy	59,795	20,304	20,304
05/08/2021	as above	Buy	532,459	180,801	180,801
05/08/2021	as above	Buy	1,182,438	401,507	401,507
05/08/2021	as above	Buy	606,490	205,939	205,939
05/08/2021	as above	Buy	164,113	55,726	55,726
05/08/2021	as above	Buy	1,704,531	578,788	578,788
05/08/2021	as above	Buy	498,550	169,287	169,287
05/08/2021	as above	Buy	1,424,982	483,865	483,865
05/08/2021	as above	Buy	976,132	331,454	331,454
05/08/2021	as above	Buy	280,597	95,279	95,279
05/08/2021	as above	Buy	646,095	219,387	219,387
05/08/2021	as above	Buy	240,992	81,831	81,831
05/08/2021	as above	Buy	1,340,337	455,123	455,123
05/08/2021	as above	Buy	1,042,657	354,043	354,043
05/08/2021	as above	Buy	622,022	211,213	211,213
05/08/2021	as above	Buy	11,144	3,797	3,797
05/08/2021	as above	Buy	43,958	14,977	14,977
05/08/2021	as above	Buy	80,413	27,398	27,398
05/08/2021	as above	Buy	91,152	31,057	31,057

Page 4 of 6

Date of Change	Holder of relevant interest	Nature of Change	Consideration	Number of Securities	Person's Votes Affected
05/08/2021	as above	Buy	36,212	12,338	12,338
05/08/2021	as above	Buy	42,249	14,395	14,395
05/08/2021	as above	Buy	27,709	9,441	9,441
05/08/2021	as above	Buy	115,756	39,440	39,440
05/08/2021	as above	Buy	33,852	11,534	11,534
05/08/2021	as above	Buy	70,801	24,123	24,123
05/08/2021	as above	Buy	20,718	7,059	7,059
05/08/2021	as above	Buy	96,573	32,904	32,904
05/08/2021	as above	Buy	38,498	13,117	13,117
05/08/2021	as above	Buy	41,246	14,053	14,053
05/08/2021	as above	Buy	16,407	5,590	5,590
05/08/2021	as above	Buy	19,083	6,502	6,502
05/08/2021	as above	Buy	4,068	1,386	1,386
05/08/2021	as above	Buy	66,401	22,624	22,624
12/08/2021	as above	Buy	66,298	22,474	22,474
12/08/2021	as above	Buy	35,651	12,085	12,085
12/08/2021	as above	Buy	47,657	16,155	16,155
12/08/2021	as above	Buy	6,997	2,372	2,372
12/08/2021	as above	Buy	62,286	21,114	21,114
12/08/2021	as above	Buy	138,293	46,879	46,879
12/08/2021	as above	Buy	71,033	24,079	24,079
12/08/2021	as above	Buy	19,243	6,523	6,523
12/08/2021	as above	Buy	198,889	67,420	67,420
12/08/2021	as above	Buy	58,304	19,764	19,764
12/08/2021	as above	Buy	167,129	56,654	56,654
12/08/2021	as above	Buy	114,407	38,782	38,782
12/08/2021	as above	Buy	32,816	11,124	11,124
12/08/2021	as above	Buy	75,709	25,664	25,664
12/08/2021	as above	Buy	28,261	9,580	9,580
12/08/2021	as above	Buy	156,725	53,127	53,127
12/08/2021	as above	Buy	121,797	41,287	41,287
12/08/2021	as above	Buy	73,505	24,917	24,917
26/08/2021	as above	Buy	210,094	69,194	69,194
26/08/2021	as above	Buy	69,064	22,746	22,746
26/08/2021	as above	Buy	439,076	144,609	144,609
26/08/2021	as above	Buy	716,448	235,961	235,961
26/08/2021	as above	Buy	608,268	200,332	200,332
26/08/2021	as above	Buy	172,210	56,717	56,717
26/08/2021	as above	Buy	273,458	90,063	90,063
26/08/2021	as above	Buy	118,680	39,087	39,087
26/08/2021	as above	Buy	25,256	8,318	8,318
26/08/2021	as above	Buy	266,417	87,744	87,744
26/08/2021	as above	Buy	239,039	78,727	78,727
26/08/2021	as above	Buy	101,919	33,567	33,567
26/08/2021	as above	Buy	566,586	186,604	186,604
26/08/2021	as above	Buy	225,069	74,126	74,126
26/08/2021	as above	Buy	256,249	84,395	84,395
26/08/2021	as above	Buy	500,094	164,705	164,705
26/08/2021	as above	Buy	128,627	42,363	42,363
26/08/2021	as above	Buy	412,591	135,886	135,886
01/09/2021	as above	Sell	430,222	136,800 -	136,800
01/09/2021	as above	Sell	94,347	30,000 -	30,000
01/09/2021	as above	Sell	269,203	85,600 -	85,600
01/09/2021	as above	Sell	356,317	113,300 -	113,300
01/09/2021	as above	Sell	805,094	256,000 -	256,000
08/09/2021	as above	Buy	737,189	217,781	217,781
08/09/2021	as above	Buy	1,754,239	518,239	518,239
08/09/2021	as above	Buy	1,851,876	547,083	547,083
08/09/2021	as above	Buy	1,503,025	444,025	444,025
08/09/2021	as above	Buy	6,230,685	1,840,675	1,840,675
08/09/2021	as above	Buy	1,922,409	567,920	567,920
08/09/2021	as above	Buy	165,858	48,998	48,998
08/09/2021	as above	Buy	1,146,594	338,728	338,728
08/09/2021	as above	Buy	1,019,684	301,236	301,236
08/09/2021	as above	Buy	593,441	175,315	175,315
08/09/2021	as above	Buy	72,956	21,778	21,778

Page 5 of 6

Date of Change	Holder of relevant interest	Nature of Change	Consideration	Number of Securities	Person's Votes Affected
08/09/2021	as above	Buy	173,610	51,824	51,824
08/09/2021	as above	Buy	183,272	54,708	54,708
08/09/2021	as above	Buy	148,747	44,402	44,402
08/09/2021	as above	Buy	616,628	184,068	184,068
08/09/2021	as above	Buy	190,253	56,792	56,792
08/09/2021	as above	Buy	16,415	4,900	4,900
08/09/2021	as above	Buy	113,475	33,873	33,873
08/09/2021	as above	Buy	100,915	30,124	30,124
08/09/2021	as above	Buy	58,729	17,531	17,531
					-
			Total Number of Securities	20,869,852
					-

Page 6 of 6

Annexure 2

This is page 1 of 4 of Annexure 2 referred to in ASIC Form 604 - change of interest holder

==> picture [108 x 42] intentionally omitted <==

Linda Matthews - Company Secretary of Challenger Limited

10/09/2021

Company Name	ACN /	Country of
	Company Number	Incorporation
Challenger Limited	106842371	Australia
255 Finance Group Pty Ltd	628853056	Australia
255 Finance Investments Pty Ltd	164516401	Australia
255 Finance Pty Ltd	168112507	Australia
255 Finance Services Pty Ltd	168107355	Australia
Accurium Holdings Pty Ltd	158242936	Australia
Accurium Pty Ltd	009492219	Australia
Alphinity Investment Management Pty Ltd	140833709	Australia
Appia Europe Limited	6490323	United Kingdom
Appia Group Limited	99865	Jersey
Ardea Investment Management Pty Ltd	132902722	Australia
Ares Australia Management Pty Limited	636490732	Australia
Assetsecure Pty. Limited	110953618	Australia
Avenir Capital Pty Ltd	150790355	Australia
Bentham Asset Management Pty Ltd	140833674	Australia
CDPG Australia Pty Limited	124498095	Australia
CDPG Luxembourg Holdings Sarl	B127717	Luxembourg
CDPG Luxembourg II S.a.r.l	B127580	Luxembourg
CDPG Luxembourg Sarl	B127515	Luxembourg
CDPG Malta Limited	C41110	Malta
Cescade Pty Limited	096097399	Australia
Challenger Direct Pty Ltd	006475501	Australia
Challenger Diversified Property Development Pty Limited	121624833	Australia
Challenger Emerging Market Infrastructure Fund Pte. Ltd	200804361D	Singapore
Challenger Emerging Market Infrastructure Fund, L.P.		Cayman Islands
Challenger Financial Services Pty Limited	087464131	Australia
Challenger FM 2 Holdings Pty Limited	080036657	Australia
Challenger Funds Management (Asia) Pte Ltd	202113533D	Singapore
Challenger Funds Management Holdings Pty Limited	107728030	Australia
Challenger Group Holdings Limited	002993302	Australia
Challenger Group Pty Limited	003374196	Australia
Challenger Group Services Pty. Ltd.	085657307	Australia
Challenger Holdco1 Holdings Pty Ltd	645868659	Australia
Challenger Holdco2 Holdings Pty Ltd	646761275	Australia
Challenger Home Loan Corporation Pty Ltd	058891302	Australia
Challenger Inventory Finance Servicing Pty Limited	107706810	Australia
Challenger Investment Partners Limited	092382842	Australia
Challenger Investment Solutions Management Pty Ltd	130035353	Australia
Challenger Japan Holdings Kabushiki Kaisha	0100-01-182399	Japan
Challenger Japan Holdings Pty Limited	617208205	Australia
Challenger Japan Kabushiki Kaisha	0100-01-182920	Unknown

Annexure 2

This is page 2 of 4 of Annexure 2 referred to in ASIC Form 604 - change of interest holder

==> picture [108 x 42] intentionally omitted <==

Linda Matthews - Company Secretary of Challenger Limited

10/09/2021

Company Name	ACN /	Country of
	Company Number	Incorporation
Challenger Kabushiki Kaisha	0100-01-182872	Unknown
Challenger LBC Terminals Holding Company Limited	C41149	Malta
Challenger Life CDI Nominees Pty Ltd	055293644	Australia
Challenger Life Company Holdings Pty Ltd	006381193	Australia
Challenger Life Company Limited	072486938	Australia
Challenger Life Debt Investments (Europe) Limited	7626067	United Kingdom
Challenger Life Fund Property Investments Pty Ltd	161212693	Australia
Challenger Life Investments UK Limited	6067787	United Kingdom
Challenger Life Nominees No.2 Pty Ltd	078627013	Australia
Challenger Life Nominees No.3 Pty Limited	151482147	Australia
Challenger Life Nominees Pty Ltd	091336793	Australia
Challenger Life Subsidiary Holdings Pty Limited	099742122	Australia
Challenger Managed Investments (International) Pty Limited	120871212	Australia
Challenger Management Services (UK) Limited	6393787	United Kingdom
Challenger Margin Lending Pty Ltd	091338822	Australia
Challenger MBK Emerging Market Infrastructure Fund GP Ltd	WK-209744	Cayman Islands
Challenger Mortgage Management Pty Ltd	087271109	Australia
Challenger Non-conforming Finance Pty Ltd	107725486	Australia
Challenger Originator Finance Pty Ltd	095085466	Australia
Challenger Property Asset Management Pty Ltd	077569021	Australia
Challenger Retirement and Investment Services Limited	115534453	Australia
Challenger Securitisation Management Pty Ltd	100346898	Australia
Challenger Skybridge (Group) Holding Company Pty Ltd	130888327	Australia
Challenger Skybridge (Hastings) Holding Company Pty Ltd	130888274	Australia
Challenger Special Servicing Pty Ltd	107707415	Australia
Challenger Treasury Limited	093307996	Australia
Challenger UK Terminals Limited	95751	Jersey
Challenger Wholesale Finance Holdings Pty Limited	087284240	Australia
Challenger Wind Holdings Pty Limited	151496061	Australia
CLS US Holdings, LLC	5302598	United States
CPHIC Investments Pty Ltd	093340526	Australia
CSPP1 Maitland Pty Ltd	122460968	Australia
CSPP1 Mavis Court Pty Ltd	122461983	Australia
Eiger Capital Pty Limited	631838607	Australia
Fidante Partners (Guernsey) Limited	40288	Guernsey
Fidante Partners AAM Holdings Pty Limited	636490189	Australia
Fidante Partners Alphinity Holdings Pty Ltd	140716016	Australia
Fidante Partners Ardea Holdings Pty Ltd	133865853	Australia
Fidante Partners Arete Holdings Pty Ltd	143836373	Australia
Fidante Partners Avenir Capital Holdings Pty Ltd	616504502	Australia
Fidante Partners Bentham Holdings Pty Ltd	140715573	Australia
Fidante Partners Eiger Holdings Pty Limited	631837360	Australia
Fidante Partners Europe Limited	4040660	United Kingdom
Fidante Partners FME Holdings Limited	11410594	United Kingdom

Annexure 2

This is page 3 of 4 of Annexure 2 referred to in ASIC Form 604 - change of interest holder

==> picture [108 x 42] intentionally omitted <==

Linda Matthews - Company Secretary of Challenger Limited

10/09/2021

Company Name	ACN /	Country of
	Company Number	Incorporation
Fidante Partners Holdings (Guernsey) Limited	43315	Guernsey
Fidante Partners Holdings Europe Limited	6172534	United Kingdom
Fidante Partners Holdings Pty Limited	123318650	Australia
Fidante Partners Kapstream Holdings Pty Limited	123319460	Australia
Fidante Partners Latigo Holdings LLC	5651705	Unknown
Fidante Partners Lennox Holdings Pty Limited	616975565	Australia
Fidante Partners Limited	002835592	Australia
Fidante Partners Merlon Holdings Pty Ltd	140715662	Australia
Fidante Partners Metisq Holdings Pty Ltd	143376961	Australia
Fidante Partners Novaport Holdings Pty Ltd	140715797	Australia
Fidante Partners Ox Holdings Pty Ltd	649174087	Australia
Fidante Partners R&M Holdings Pty Limited	152375436	Australia
Fidante Partners Services Limited	119605373	Australia
Fidante Partners Tempo Holdings Pty Ltd	167321262	Australia
Fidante Partners USA LLC	81-4925448	United States
Fidante Partners Wavestone Holdings Pty Limited	133626276	Australia
Fidante Partners Whitehelm Holdings Pty Ltd	169043903	Australia
Fidante Partners Wyetree Limited	9387239	United Kingdom
Gasvalpo S.A.	96.960.800-6	Chile
Greencape Capital Pty Ltd	120328529	Australia
GV Cayman Company Limited	OG-206918	Cayman Islands
GV Chile Holding Limitada	124311723611675	Chile
GV Chile Limitada	124301725311696	Chile
GV Jersey Holding Company Limited	100293	Jersey
GV Jersey Trustee Company Limited	100294	Jersey
GV Jersey Trustee Company No. 2 Limited	100367	Jersey
Howard Commercial Lending Pty Ltd	000033143	Australia
Kudu Investment Partners I, Lp	47-2497501	Unknown
Lanv Pty Ltd	147224502	Australia
Lease Collateral No.2 Pty Ltd	168112481	Australia
Lease Collateral Pty Ltd	168112472	Australia
Lease Funding Management Pty Ltd	168112490	Australia
Lennox Capital Partners Pty Limited	617001966	Australia
Maitland Nominee Holdings Pty Limited	122853114	Australia
Mawbury Pty Limited	096097479	Australia
Merlon Capital Partners Pty Ltd	140833683	Australia
Metisq Capital Holdings Pty Ltd	158011351	Australia
Metisq Capital Pty Ltd	104642613	Australia
MIR Libra Capital Management Ltd	236748	Cayman Islands
MyLifeMyFinance Limited	087651750	Australia

Annexure 2

This is page 4 of 4 of Annexure 2 referred to in ASIC Form 604 - change of interest holder

==> picture [108 x 42] intentionally omitted <==

Linda Matthews - Company Secretary of Challenger Limited

10/09/2021

Company Name	ACN /	Country of
	Company Number	Incorporation
Novaport Capital Pty Ltd	140833656	Australia
Oaklands Hill Pty Ltd	149814559	Australia
Oaklands Hill Wind Farm Pty Ltd	126595935	Australia
Offshore Reinsurer (Bermuda) Company Limited	51746	Bermuda
Ox Capital Management Pty Ltd	648887914	Australia
Residential Real Estate Total Return Opportunities Fund Ltd.	212456	Cayman Islands
Residential Real Estate Total Return Opportunities Master Fund	L.P27263	Cayman Islands
Sabrand Limited	126677	Cyprus
The Liberty Group Consortium Pty Ltd	082564289	Australia
TLG Services Pty Limited	092500608	Australia
TLGH Pty Limited	092927467	Australia
TRE Data Centres Canberra Pty Ltd	141881227	Australia
US LLC Holdings Pty Ltd	130888292	Australia
US LLC Investments LLC	36-4811214	Unknown
Waterford County Pty Limited	122853089	Australia
Wavestone Capital Pty Limited	120179419	Australia
Welcome Break Group Limited	3147949	United Kingdom
Welcome Break Holdings (1) Limited	4099287	United Kingdom
Welcome Break Holdings (2) Limited	4379574	United Kingdom
Welcome Break Holdings Limited	3290817	Cayman Islands
Welcome Break Limited	1735476	United Kingdom
Welcome Break No.1 Limited	8331837	United Kingdom
Welcome Break No.2 Limited	8331870	United Kingdom
Welcome Break Services Limited	4099292	United Kingdom
Whitehelm Capital Pty Ltd	008636717	Australia