CHALLENGER LIMITED — Major Shareholding Notification 2021

Jun 8, 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

9 June 2021

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

By electronic lodgement

Dear Sir/Madam

Re: Notice of ceasing to be a substantial holder ~ Cleanaway Waste Management Limited (CWY)

We attach a notice of ceasing to be a substantial holder in Cleanaway Waste Management Limited (ACN 101 155 220). 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 GPO Box 3234, Brisbane QLD 4001 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 605 Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme Cleanaway Waste Management Limited ACN/ARSN 101 155 220

1. Details of substantial holder (1)

Name Challenger Limited (and its entities listed in Annexure 2) ACN/ARSN (if applicable) 106 842 371 The holder ceased to be a substantial holder on 07/06/2021 The previous notice was given to the company on 21/05/2021 The previous notice was dated 21/05/2021

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 Nature of change (4) Consideration given in Class (6) and Person's votes interest changed relation to change (5) number of affected securities affected Refer Challenger Refer Refer Refer Refer Annexure Annexure 1 Limited (and its Annexure 1 Annexure 1 Annexure 1 1 entities listed in Annexure 2)

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
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	09/06/2021
		DIRECTIONS

(1) If there area 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 1 consists of 4 page/s & is referred to in Form 605 signed by me & dated 09/06/2021

[Insert Signature Here]

Linda Matthews Company Secretary of Challenger Limited

Transactions: Company Name/Scheme: Cleanaway Waste Management Limited (CWY) As at: 07/06/2021 Class of security: Ordinary Fully Paid

Date of Change	Holder of relevant interest	Nature of Change	Consideration	Number of Securities	Person's Votes Affected
20/05/2021	Challenger Limited (and its entities listed in Annexure 2)	Sell	65,915.03	-23,713	23,713
20/05/2021	as above	Sell	25,506.53	-9,176	9,176
20/05/2021	as above	Sell	443,804.12	-159,659	159,659
20/05/2021	as above	Sell	65,714.89	-23,641	23,641
25/05/2021	as above	Buy	505,406.60	183,291	183,291
25/05/2021	as above	Buy	1,123,684.62	407,516	407,516
26/05/2021	as above	Buy	192,739.25	70,087	70,087
27/05/2021	as above	Buy	86,776.90	31,417	31,417
27/05/2021	as above	Buy	68,552.56	24,819	24,819
27/05/2021	as above	Buy	70,609.69	32,977	32,977
27/05/2021	as above	Buy	22,704.46	8,220	8,220
27/05/2021	as above	Buy	171,816.43	62,205	62,205
27/05/2021	as above	Buy	19,094.40	6,913	6,913
27/05/2021	as above	Buy	12,979.11	4,699	4,699
27/05/2021	as above	Buy	74,120.95	26,835	26,835
27/05/2021	as above	Buy	60,559.04	21,925	21,925
27/05/2021	as above	Buy	269,194.27	97,460	97,460
27/05/2021	as above	Buy	17,229.98	6,238	6,238
27/05/2021	as above	Buy	60,039.77	21,737	21,737
27/05/2021	as above	Buy	55,777.85	20,194	20,194
27/05/2021	as above	Buy	29,631.81	10,728	10,728
27/05/2021	as above	Buy	234,110.07	84,758	84,758
27/05/2021	as above	Buy	5,935.75	2,149	2,149
27/05/2021	as above	Buy	291,600.42	105,572	105,572
27/05/2021	as above	Buy	76,858.19	27,826	27,826
27/05/2021	as above	Buy	47,303.72	17,126	17,126
27/05/2021	as above	Buy	35,730.53	12,936	12,936
27/05/2021	as above	Buy	43,086.00	15,599	15,599
27/05/2021	as above	Buy	78,932.53	28,577	28,577
27/05/2021	as above	Buy	63,729.93	23,073	23,073
27/05/2021	as above	Buy	79,385.52	28,741	28,741
27/05/2021	as above	Buy	22,055.37	7,985	7,985
28/05/2021	as above	Buy	962,245.37	347,381	347,381
31/05/2021	as above	Sell	5,117.05	-1,860	1,860
31/05/2021	as above	Sell	51,519.85	-18,727	18,727
31/05/2021	as above	Sell	19,318.22	-7,022	7,022
31/05/2021	as above	Sell	3,537.91	-1,286	1,286
31/05/2021	as above	Sell	9,279.46	-3,373	3,373
01/06/2021	as above	Sell	24,574.00	-8,936	8,936
01/06/2021	as above	Sell	247,365.25	-89,951	89,951
01/06/2021	as above	Sell	92,760.25	-33,731	33,731
01/06/2021	as above	Sell	16,995.00	-6,180	6,180
01/06/2021	as above	Sell	44,555.50	-16,202	16,202
02/06/2021	as above	Sell	1,035.79	-382	382
02/06/2021	as above	Sell	184.38	-68	68
02/06/2021	as above	Sell	471.8	-174	174
02/06/2021	as above	Sell	32.54	-12	12
02/06/2021	as above	Sell	89.48	-33	33
02/06/2021	as above	Sell	512.47	-189	189
02/06/2021	as above	Sell	1,114.43	-411	411
02/06/2021	as above	Sell	591.11	-218	218
02/06/2021	as above	Sell	4,373.65	-1,613	1,613
02/06/2021	as above	Sell	1,206.62	-445	445
02/06/2021	as above	Sell	447.4	-165	165
02/06/2021	as above	Sell	344.36	-127	127

Page 1 of 4

Date of Change	Holder of relevant interest	Nature of Change	Consideration	Number of Securities	Person's Votes Affected
02/06/2021	as above	Sell	1,420.28	-675	675
02/06/2021	as above	Sell	5,366.06	-1,979	1,979
02/06/2021	as above	Sell	667.03	-246	246
02/06/2021	as above	Sell	1,578.09	-582	582
02/06/2021	as above	Sell	1,206.62	-445	445
02/06/2021	as above	Sell	1,729.94	-638	638
02/06/2021	as above	Sell	1,477.77	-545	545
02/06/2021	as above	Sell	4,151.31	-1,531	1,531
02/06/2021	as above	Sell	1,130.70	-417	417
02/06/2021	as above	Sell	1,247.29	-460	460
02/06/2021	as above	Sell	1,434.38	-529	529
02/06/2021	as above	Sell	474.51	-175	175
02/06/2021	as above	Sell	4,083.52	-1,506	1,506
02/06/2021	as above	Sell	675.16	-249	249
02/06/2021	as above	Sell	105.75	-39	39
02/06/2021	as above	Sell	596.53	-220	220
02/06/2021	as above	Sell	1,488.61	-549	549
02/06/2021	as above	Sell	883.95	-326	326
02/06/2021	as above	Sell	92.19	-34	34
02/06/2021	as above	Sell	935.47	-345	345
02/06/2021	as above	Sell	352.5	-130	130
02/06/2021	as above	Sell	65.08	-24	24
02/06/2021	as above	Sell	168.11	-62	62
02/06/2021	as above	Sell	84,444.69	-31,218	31,218
02/06/2021	as above	Sell	15,139.89	-5,597	5,597
02/06/2021	as above	Sell	38,535.43	-14,246	14,246
02/06/2021	as above	Sell	2,591.39	-958	958
02/06/2021	as above	Sell	7,279.16	-2,691	2,691
02/06/2021	as above	Sell	41,857.17	-15,474	15,474
02/06/2021	as above	Sell	90,817.67	-33,574	33,574
02/06/2021	as above	Sell	48,278.84	-17,848	17,848
02/06/2021	as above	Sell	356,267.44	-131,707	131,707
02/06/2021	as above	Sell	98,386.26	-36,372	36,372
02/06/2021	as above	Sell	36,485.04	-13,488	13,488
02/06/2021	as above	Sell	28,067.08	-10,376	10,376
02/06/2021	as above	Sell	115,841.93	-55,187	55,187
02/06/2021	as above	Sell	437,176.69	-161,618	161,618
02/06/2021	as above	Sell	54,302.88	-20,075	20,075
02/06/2021	as above	Sell	128,590.29	-47,538	47,538
02/06/2021	as above	Sell	98,462.00	-36,400	36,400
02/06/2021	as above	Sell	141,084.69	-52,157	52,157
02/06/2021	as above	Sell	120,442.83	-44,526	44,526
02/06/2021	as above	Sell	338,073.61	-124,981	124,981
02/06/2021	as above	Sell	92,124.19	-34,057	34,057
02/06/2021	as above	Sell	101,726.94	-37,607	37,607
02/06/2021	as above	Sell	116,918.22	-43,223	43,223
02/06/2021	as above	Sell	38,781.59	-14,337	14,337
02/06/2021	as above	Sell	332,831.32	-123,043	123,043
02/06/2021	as above	Sell	55,117.08	-20,376	20,376
02/06/2021	as above	Sell	8,572.15	-3,169	3,169
02/06/2021	as above	Sell	48,560.16	-17,952	17,952
02/06/2021	as above	Sell	121,435.57	-44,893	44,893
02/06/2021	as above	Sell	72,136.94	-26,668	26,668
02/06/2021	as above	Sell	7,584.82	-2,804	2,804
02/06/2021	as above	Sell	76,362.15	-28,230	28,230
02/06/2021	as above	Sell	28,635.13	-10,586	10,586
02/06/2021	as above	Sell	5,245.00	-1,939	1,939
02/06/2021	as above	Sell	13,754.93	-5,085	5,085
02/06/2021	as above	Buy	54,636.46	20,220	20,220
03/06/2021	as above	Sell	86,394.05	-31,359	31,359
03/06/2021	as above	Sell	15,488.61	-5,622	5,622
03/06/2021	as above	Sell	39,426.81	-14,311	14,311
03/06/2021	as above	Sell	2,650.31	-962	962
03/06/2021	as above	Sell	7,446.77	-2,703	2,703
03/06/2021	as above	Sell	42,823.72	-15,544	15,544
03/06/2021	as above	Sell	92,915.13	-33,726	33,726
03/06/2021	as above	Sell	49,391.64	-17,928	17,928
03/06/2021	as above	Sell	364,492.01	-132,302	132,302
03/06/2021	as above	Sell	100,659.44	-36,537	36,537
03/06/2021	as above	Sell	37,327.50	-13,549	13,549
03/06/2021	as above	Sell	28,715.37	-10,423	10,423
03/06/2021	as above	Sell	118,347.52	-55,436	55,436

Page 2 of 4

Date of Change	Holder of relevant interest	Nature of Change	Consideration	Number of Securities	Person's Votes Affected
03/06/2021	as above	Sell	447,271.50	-162,349	162,349
03/06/2021	as above	Sell	55,557.33	-20,166	20,166
03/06/2021	as above	Sell	131,559.52	-47,753	47,753
03/06/2021	as above	Sell	100,733.82	-36,564	36,564
03/06/2021	as above	Sell	144,342.72	-52,393	52,393
03/06/2021	as above	Sell	123,222.89	-44,727	44,727
03/06/2021	as above	Sell	345,881.99	-125,547	125,547
03/06/2021	as above	Sell	94,251.31	-34,211	34,211
03/06/2021	as above	Sell	104,072.88	-37,776	37,776
03/06/2021	as above	Sell	119,616.59	-43,418	43,418
03/06/2021	as above	Sell	39,677.51	-14,402	14,402
03/06/2021	as above	Sell	340,515.25	-123,599	123,599
03/06/2021	as above	Sell	56,389.34	-20,468	20,468
03/06/2021	as above	Sell	8,771.92	-3,184	3,184
03/06/2021	as above	Sell	49,680.92	-18,033	18,033
03/06/2021	as above	Sell	124,239.48	-45,096	45,096
03/06/2021	as above	Sell	73,800.94	-26,788	26,788
03/06/2021	as above	Sell	7,760.84	-2,817	2,817
03/06/2021	as above	Sell	78,126.29	-28,358	28,358
03/06/2021	as above	Sell	29,293.92	-10,633	10,633
03/06/2021	as above	Sell	5,366.74	-1,948	1,948
03/06/2021	as above	Sell	14,072.54	-5,108	5,108
04/06/2021	as above	Sell	55,190.92	-20,033	20,033
04/06/2021	as above	Sell	9,895.96	-3,592	3,592
04/06/2021	as above	Sell	25,186.21	-9,142	9,142
04/06/2021	as above	Sell	1,694.33	-615	615
04/06/2021	as above	Sell	4,757.89	-1,727	1,727
04/06/2021	as above	Sell	27,357.15	-9,930	9,930
04/06/2021	as above	Sell	59,356.48	-21,545	21,545
04/06/2021	as above	Sell	31,553.02	-11,453	11,453
04/06/2021	as above	Sell	232,844.34	-84,517	84,517
04/06/2021	as above	Sell	64,304.46	-23,341	23,341
04/06/2021	as above	Sell	23,847.28	-8,656	8,656
04/06/2021	as above	Sell	18,345.55	-6,659	6,659
04/06/2021	as above	Sell	75,447.46	-35,414	35,414
04/06/2021	as above	Sell	285,718.30	-103,709	103,709
04/06/2021	as above	Sell	35,492.67	-12,883	12,883
04/06/2021	as above	Sell	84,044.03	-30,506	30,506
04/06/2021	as above	Sell	64,351.29	-23,358	23,358
04/06/2021	as above	Sell	92,209.85	-33,470	33,470
04/06/2021	as above	Sell	78,718.62	-28,573	28,573
04/06/2021	as above	Sell	220,956.51	-80,202	80,202
04/06/2021	as above	Sell	60,210.53	-21,855	21,855
04/06/2021	as above	Sell	66,486.42	-24,133	24,133
04/06/2021	as above	Sell	76,412.68	-27,736	27,736
04/06/2021	as above	Sell	25,346.00	-9,200	9,200
04/06/2021	as above	Sell	217,529.29	-78,958	78,958
04/06/2021	as above	Sell	36,024.38	-13,076	13,076
04/06/2021	as above	Sell	5,603.67	-2,034	2,034
04/06/2021	as above	Sell	31,737.60	-11,520	11,520
04/06/2021	as above	Sell	79,368.80	-28,809	28,809
04/06/2021	as above	Sell	47,146.32	-17,113	17,113
04/06/2021	as above	Sell	4,959.00	-1,800	1,800
04/06/2021	as above	Sell	49,909.58	-18,116	18,116
04/06/2021	as above	Sell	18,714.72	-6,793	6,793
04/06/2021	as above	Sell	3,429.98	-1,245	1,245
04/06/2021	as above	Sell	8,989.57	-3,263	3,263
07/06/2021	as above	Sell	136,626.23	-50,885	50,885
07/06/2021	as above	Sell	24,495.26	-9,123	9,123
07/06/2021	as above	Sell	62,348.39	-23,221	23,221
07/06/2021	as above	Sell	4,193.97	-1,562	1,562
07/06/2021	as above	Sell	11,779.10	-4,387	4,387
07/06/2021	as above	Sell	67,721.07	-25,222	25,222
07/06/2021	as above	Sell	146,942.00	-54,727	54,727
07/06/2021	as above	Sell	78,114.71	-29,093	29,093
07/06/2021	as above	Sell	576,423.86	-214,683	214,683
07/06/2021	as above	Sell	159,188.28	-59,288	59,288
07/06/2021	as above	Sell	59,035.10	-21,987	21,987
07/06/2021	as above	Sell	45,414.09	-16,914	16,914
07/06/2021	as above	Sell	186,776.59	-89,956	89,956
07/06/2021	as above	Sell	707,339.09	-263,441	263,441
07/06/2021	as above	Sell	87,861.26	-32,723	32,723

Page 3 of 4

Date of Change	Holder of relevant interest	Nature of Change	Consideration	Number of Securities	Person's Votes Affected
07/06/2021	as above	Sell	208,057.97	-77,489	77,489
07/06/2021	as above	Sell	159,309.11	-59,333	59,333
07/06/2021	as above	Sell	228,270.65	-85,017	85,017
07/06/2021	as above	Sell	194,871.93	-72,578	72,578
07/06/2021	as above	Sell	546,993.57	-203,722	203,722
07/06/2021	as above	Sell	149,052.41	-55,513	55,513
07/06/2021	as above	Sell	164,587.82	-61,299	61,299
07/06/2021	as above	Sell	189,168.99	-70,454	70,454
07/06/2021	as above	Sell	62,748.45	-23,370	23,370
07/06/2021	as above	Sell	538,511.66	-200,563	200,563
07/06/2021	as above	Sell	89,176.91	-33,213	33,213
07/06/2021	as above	Sell	13,870.71	-5,166	5,166
07/06/2021	as above	Sell	78,571.16	-29,263	29,263
07/06/2021	as above	Sell	196,480.25	-73,177	73,177
07/06/2021	as above	Sell	116,714.27	-43,469	43,469
07/06/2021	as above	Sell	12,273.14	-4,571	4,571
07/06/2021	as above	Sell	123,552.96	-46,016	46,016
07/06/2021	as above	Sell	46,329.68	-17,255	17,255
07/06/2021	as above	Sell	8,487.29	-3,161	3,161
07/06/2021	as above	Sell	22,253.28	-8,288	8,288
					-
			Total Number of Securities	-4,090,641

Page 4 of 4

Annexure 2

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==> picture [119 x 50] intentionally omitted <==

Linda Matthews - Company Secretary of Challenger Limited�

09/06/2021

Linda Matthews - Company Secretary of Challenger Limited 09/06/2021
Company Name	ACN / Company No.	Country of Incorporation
255 FINANCE GROUP PTY LTD	628 853 056	AUSTRALIA
255 FINANCE INVESTMENTS PTY LTD	164 516 401	AUSTRALIA
255 FINANCE PTY LTD	168 112 507	AUSTRALIA
ACCURIUM HOLDINGS PTY LTD	158 242 936	AUSTRALIA
ACCURIUM PTY LTD	009 492 219	AUSTRALIA
APPIA EUROPE LIMITED	6490323	ENGLAND/WALES
APPIA GROUP LIMITED	99865	JERSEY
CDPG AUSTRALIA PTY LIMITED	124 498 095	AUSTRALIA
CDPG LUXEMBOURG HOLDINGS SARL	B 127717	LUXEMBOURG
CDPG LUXEMBOURG II SARL	B 127580	LUXEMBOURG
CDPG LUXEMBOURG SARL	B 127515	LUXEMBOURG
CDPG MALTA LIMITED	C 41110	MALTA
CESCADE PTY LIMITED	096 097 399	AUSTRALIA
CHALLENGER DIRECT PTY LTD	006 475 501	AUSTRALIA
CHALLENGER DIVERSIFIED PROPERTY DEVELOPMENT PTY LIMITED	121 624 833	AUSTRALIA
CHALLENGER EMERGING MARKET INFRASTRUCTURE FUND PTE. LTD	200804361D	SINGAPORE
CHALLENGER EMERGING MARKET INFRASTRUCTURE FUND, L.P.		CAYMAN ISLANDS
CHALLENGER FINANCIAL SERVICES PTY LIMITED	087 464 131	AUSTRALIA
CHALLENGER FM 2 HOLDINGS PTY LIMITED	080 036 657	AUSTRALIA
CHALLENGER FUNDS MANAGEMENT HOLDINGS PTY LIMITED	107 728 030	AUSTRALIA
CHALLENGER GROUP HOLDINGS LIMITED	002 993 302	AUSTRALIA
CHALLENGER GROUP PTY LIMITED	003 374 196	AUSTRALIA
CHALLENGER GROUP SERVICES (UK) LIMITED	04244127	ENGLAND/WALES
CHALLENGER GROUP SERVICES PTY. LTD.	085 657 307	AUSTRALIA
CHALLENGER HOME LOAN CORPORATION PTY LTD	058 891 302	AUSTRALIA
CHALLENGER HOLDCO1 HOLDINGS PTY LTD	645 868 659	AUSTRALIA
CHALLENGER HOLDCO2 HOLDINGS PTY LTD	646 761 275	AUSTRALIA
CHALLENGER INVENTORY FINANCE SERVICING PTY LIMITED	107 706 810	AUSTRALIA
CHALLENGER INVESTMENT PARTNERS LIMITED	092 382 842	AUSTRALIA
CHALLENGER INVESTMENT SOLUTIONS MANAGEMENT PTY LTD	130 035 353	AUSTRALIA
CHALLENGER JAPAN HOLDINGS KABUSHIKI KAISHA	0100-01-182399	�����
CHALLENGER JAPAN HOLDINGS PTY LIMITED	617 208 205	���������
CHALLENGER JAPAN KABUSHIKI KAISHA	0100-01-182920	�����
CHALLENGER KABUSHIKI KAISHA	0100-01-182872	�����
CHALLENGER LBC TERMINALS HOLDING COMPANY LIMITED	C41149	MALTA

Annexure 2

������������������������������������������������������������05 - ceasing to be a substantial holder

==> picture [119 x 50] intentionally omitted <==

Linda Matthews - Company Secretary of Challenger Limited� 09/06/2021

Linda Matthews - Company Secretary of Challenger Limited 09/06/2021
Company Name	ACN / Company No.	Country of Incorporation
CHALLENGER LIFE CDI NOMINEES PTY LTD	055 293 644	AUSTRALIA
CHALLENGER LIFE COMPANY HOLDINGS PTY LTD	006 381 193	AUSTRALIA
CHALLENGER LIFE COMPANY LIMITED	072 486 938	AUSTRALIA
CHALLENGER LIFE DEBT INVESTMENTS (EUROPE) LIMITED	07626067	ENGLAND/WALES
CHALLENGER LIFE FUND PROPERTY INVESTMENTS PTY LTD	161 212 693	AUSTRALIA
CHALLENGER LIFE INVESTMENTS UK LIMITED	6067787	ENGLAND/WALES
CHALLENGER LIFE NOMINEES NO.2 PTY LTD	078 627 013	AUSTRALIA
CHALLENGER LIFE NOMINEES NO.3 PTY LIMITED	151 482 147	AUSTRALIA
CHALLENGER LIFE NOMINEES PTY LTD	091 336 793	AUSTRALIA
CHALLENGER LIFE SUBSIDIARY HOLDINGS PTY LIMITED	099 742 122	AUSTRALIA
CHALLENGER LIMITED	106 842 371	AUSTRALIA
CHALLENGER MANAGED INVESTMENTS (INTERNATIONAL) PTY LIMITED	120 871 212	AUSTRALIA
CHALLENGER MANAGEMENT SERVICES (UK) LIMITED	06393787	ENGLAND/WALES
CHALLENGER MARGIN LENDING PTY LTD	091 338 822	AUSTRALIA
CHALLENGER MBK EMERGING MARKET INFRASTRUCTURE FUND GP LTD	WK-209744	CAYMAN ISLANDS
CHALLENGER MORTGAGE MANAGEMENT PTY LTD	087 271 109	AUSTRALIA
CHALLENGER NON-CONFORMING FINANCE PTY LTD	107 725 486	AUSTRALIA
CHALLENGER ORIGINATOR FINANCE PTY LTD	095 085 466	AUSTRALIA
CHALLENGER PROPERTY ASSET MANAGEMENT PTY LTD	077 569 021	AUSTRALIA
CHALLENGER RETIREMENT AND INVESTMENT SERVICES LIMITED	115 534 453	AUSTRALIA
CHALLENGER SECURITISATION MANAGEMENT PTY LTD	100 346 898	AUSTRALIA
CHALLENGER SKYBRIDGE (GROUP) HOLDING COMPANY PTY LTD	130 888 327	AUSTRALIA
CHALLENGER SKYBRIDGE (HASTINGS) HOLDING COMPANY PTY LTD	130 888 274	AUSTRALIA
CHALLENGER SPECIAL SERVICING PTY LTD	107 707 415	AUSTRALIA
������������������������	168 107 355	AUSTRALIA
CHALLENGER TREASURY LIMITED	093 307 996	AUSTRALIA
CHALLENGER UK TERMINALS LIMITED	95751	AUSTRALIA
CHALLENGER WHOLESALE FINANCE HOLDINGS PTY LIMITED	087 284 240	AUSTRALIA
CHALLENGER WIND HOLDINGS PTY LIMITED	151 496 061	UNITED STATES
CLS US HOLDINGS, LLC	5302598	AUSTRALIA
CPHIC INVESTMENTS PTY LTD	093 340 526	AUSTRALIA
CSPP1 MAITLAND PTY LTD	122 460 968	AUSTRALIA
CSPP1 MAVIS COURT PTY LTD	122 461 983	GUERNSEY
FIDANTE PARTNERS (GUERNSEY) LIMITED	40288	AUSTRALIA
FIDANTE PARTNERS ALPHINITY HOLDINGS PTY LTD	140 716 016	AUSTRALIA
FIDANTE PARTNERS ARDEA HOLDINGS PTY LTD	133 865 853	AUSTRALIA
FIDANTE PARTNERS ARETE HOLDINGS PTY LTD	143 836 373	AUSTRALIA
FIDANTE PARTNERS AVENIR CAPITAL HOLDINGS PTY LTD	616 504 502	AUSTRALIA
FIDANTE PARTNERS BENTHAM HOLDINGS PTY LTD	140 715 573	AUSTRALIA
FIDANTE PARTNERS EIGER HOLDINGS PTY LIMITED	631 837 360	AUSTRALIA

Annexure 2

�������������������������������������������������������������5 - ceasing to be a substantial holder

==> picture [119 x 50] intentionally omitted <==

Linda Matthews - Company Secretary of Challenger Limited�

09/06/20�1

Linda Matthews - Company Secretary of Challenger Limited 09/06/20�1
Company Name	ACN / Company No.	Country of Incorporation
FIDANTE PARTNERS EUROPE LIMITED	04040660	ENGLAND/WALES
FIDANTE PARTNERS FME HOLDINGS LIMITED	11410594	UNITED KINGDOM
FIDANTE PARTNERS HOLDINGS (GUERNSEY) LIMITED	43315	GUERNSEY
FIDANTE PARTNERS HOLDINGS EUROPE LIMITED	06172534	ENGLAND/WALES
FIDANTE PARTNERS HOLDINGS PTY LIMITED	123 318 650	AUSTRALIA
FIDANTE PARTNERS KAPSTREAM HOLDINGS PTY LIMITED	123 319 460	AUSTRALIA
FIDANTE PARTNERS LATIGO HOLDINGS LLC	5651705	UNITED STATES
FIDANTE PARTNERS LENNOX HOLDINGS PTY LIMITED	616 975 565	AUSTRALIA
FIDANTE PARTNERS LIMITED	002 835 592	AUSTRALIA
FIDANTE PARTNERS MERLON HOLDINGS PTY LTD	140 715 662	AUSTRALIA
FIDANTE PARTNERS METISQ HOLDINGS PTY LTD	143 376 961	AUSTRALIA
FIDANTE PARTNERS NOVAPORT HOLDINGS PTY LTD	140 715 797	AUSTRALIA
FIDANTE PARTNERS R&M HOLDINGS PTY LIMITED	152 375 436	AUSTRALIA
FIDANTE PARTNERS SERVICES LIMITED	119 605 373	AUSTRALIA
FIDANTE PARTNERS TEMPO HOLDINGS PTY LTD	167 321 262	AUSTRALIA
FIDANTE PARTNERS USA LLC	81-4925448	UNITED STATES
FIDANTE PARTNERS WAVESTONE HOLDINGS PTY LIMITEDFIDANTE	133 626 276	AUSTRALIA
PARTNERS WHITEHELM HOLDINGS PTY LTD	169 043 903	AUSTRALIA
FIDANTE PARTNERS WYETREE LIMITED	09387239	ENGLAND/WALES
GASVALPO S.A.	96.960.800-6	CHILE
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	000 033 143	AUSTRALIA
KUDU INVESTMENT MANAGEMENT LLC	1231609	UNITED STATES
KUDU INVESTMENT PARTNERS I, LP	47-2497501	UNITED STATES
KUDU INVESTMENTS GP LLC	1244682	UNITED STATES
LANV PTY LTD	147 224 502	AUSTRALIA
LEASE COLLATERAL NO.2 PTY LTD	168 112 481	AUSTRALIA
LEASE COLLATERAL PTY LTD	168 112 472	AUSTRALIA
LEASE FUNDING MANAGEMENT PTY LTD	168 112 490	AUSTRALIA
MAITLAND NOMINEE HOLDINGS PTY LIMITED	122 853 114	AUSTRALIA
MAWBURY PTY LIMITED	096 097 479	AUSTRALIA
METISQ CAPITAL HOLDINGS PTY LTD	158 011 351	AUSTRALIA

Annexure 2

�������������������������������������������������������������5 - ceasing to be a substantial holder

==> picture [119 x 50] intentionally omitted <==

Linda Matthews - Company Secretary of Challenger Limited�

09/06/2021

Linda Matthews - Company Secretary of Challenger Limited 09/06/2021
Company Name	ACN / Company No.	Country of Incorporation
METISQ CAPITAL PTY LTD	104 642 613	AUSTRALIA
METISQ LIBRA GREATER CHINA EQUITY FUND LTD.	WK-237319	CAYMANISLANDS
MIR LIBRA CAPITAL MANAGEMENT LTD	236748	CAYMAN ISLANDS
OAKLANDS HILL PTY LTD	149 814 559	AUSTRALIA
OAKLANDS HILL WIND FARM PTY LTD	126 595 935	AUSTRALIA
OFFSHORE REINSURER (BERMUDA) COMPANY LIMITED	51746	BERMUDA
RESIDENTIAL REAL ESTATE TOTAL RETURN OPPORTUNITIES FUND LTD.	212456	CAYMAN ISLANDS
RESIDENTIAL REAL ESTATE TOTAL RETURN OPPORTUNITIES MASTER FUND L.P. 27263		CAYMAN ISLANDS
SABRAND LIMITED	126677	CYPRUS
THE LIBERTY GROUP CONSORTIUM PTY LTD	082 564 289	AUSTRALIA
TLG SERVICES PTY LIMITED	092 500 608	AUSTRALIA
TLGH PTY LIMITED	092 927 467	AUSTRALIA
TRE DATA CENTRES CANBERRA PTY LTD	141 881 227	AUSTRALIA
US LLC HOLDINGS PTY LTD	130 888 292	AUSTRALIA
US LLC INVESTMENTS LLC	4811214 36-	UNITED STATES
WATERFORD COUNTY PTY LIMITED	122 853 089	AUSTRALIA
WELCOME BREAK GROUP LIMITED	03147949	ENGLAND/WALES
WELCOME BREAK HOLDINGS (1) LIMITED	04099287	ENGLAND/WALES
WELCOME BREAK HOLDINGS (2) LIMITED	04379574	ENGLAND/WALES
WELCOME BREAK HOLDINGS LIMITED	03290817	CAYMAN ISLANDS
WELCOME BREAK LIMITED	01735476	ENGLAND/WALES
WELCOME BREAK NO.1 LIMITED WELCOME	08331837	ENGLAND/WALES
BREAK NO.2 LIMITED WELCOME BREAK	08331870	ENGLAND/WALES
SERVICES LIMITED	04099292	ENGLAND/WALES
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CHALLENGER HOLDCO1 HOLDINGS PTY LTD CHALLENGER HOLDCO2 HOLDINGS PTY LTD	645 868 659 646 761 275	AUSTRALIA AUSTRALIA