CHALLENGER LIMITED — Major Shareholding Notification 2021

Mar 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 March 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 – Collins Food Limited (CKF)

We attach a notice of change of interests of substantial holder in Collins Food 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	COLLINS FOODS LIMITED	COLLINS FOODS LIMITED
ACN/ARSN	151 420 781
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	08/03/2021
The previous notice was given to the company on		16/02/2021
The previous notice was dated		16/02/2021

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)	Classof securities (4)	Previous notice	Previous notice	Previous notice	Previous notice	Present notice	Present notice	Present notice	Present notice
		Person's votes		Voting power (5)		Person's votes		Voting power (5)
Ordinary Fully Paid		6,314,709		5.42%		7,517,257		6.45%
3. Changes in relevant interests Particulars of each change in, or change in t or scheme, since the substantial holder was		he nature of, a relevant interest of the substantial holder or an associate in voting securities of the company last required to give a substantial holding notice to the company or scheme are as follows:
Date of change	Person whose relevant interest changed		Nature of change (6)		Consideration given in relation to change (7)		Class and number of securities affected		Person's votes affected
Refer Annexure 1	Challenger Limited (and its entities listed in Annexure 2)		Refer Annexure 1		Refer Annexure 1		Refer Annexure 1		Refer Annexure 1

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	Registered holder of	Person entitled to be	**Nature of relevant interest (6) **	Class and number of	Person's votes
interest	securities	registered as holder		securities
		(8)
Challenger Limited (and	UBS Nominees Pty	UBS Nominees	Ordinary Fully Paid	168,880 (Ordinary	168,880
its entities listed in Annexure 2)	Limited	Pty Limited	securities purchased and sold on market by	Fully Paid)
			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).
Challenger Limited (and	National Nominees	National	As above	439,363 (Ordinary	439,363
its entities listed in Annexure 2)	Limited	Nominees Limited		Fully Paid)
Challenger Limited (and	J P Morgan	J P Morgan	As above	897,161 (Ordinary	897,161
its entities listed in Annexure 2)	Nominees Australia Limited	Nominees Australia Limited		Fully Paid)

Challenger Limited (and its entities listed in Annexure 2)	HSBC Custody Nominees (Australia) Limited	HSBC Custody Nominees (Australia) Limited	As above	1,748,997 (Ordinary Fully Paid)	1,748,997
Challenger Limited (and its entities listed in Annexure 2)	BNP Paribas Nominees Pty Limited	BNP Paribas Nominees Pty Limited	As above	2,571,060 (Ordinary Fully Paid)	2,571,060
Challenger Limited (and its entities listed in Annexure 2)	Citicorp Nominees Pty Limited	Citicorp Nominees Pty Limited	As above	1,691,796 (Ordinary Fully Paid)	1,691,796

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:

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	10/03/2021

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 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 4 page/s and is referred to in Form 604 signed by me and dated 10/03/2021

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[Insert Signature Here]
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Linda Matthews Company Secretary of Challenger Limited

Transactions:

Company Name/Scheme: COLLINS FOODS LIMITED (CKF) As at: 08/03/2021 Class of security: Ordinary Fully Paid

Date of Change	Holder of relevant interest	Nature of Change	Consideration	Number of Securities	Person's Votes Affected
16/02/2021	Challenger Limited (and its entities listed in Annexure 2)	Buy	110,117	11,351	11,351
16/02/2021	as above	Buy	15,958	1,645	1,645
16/02/2021	as above	Buy	44,936	4,632	4,632
16/02/2021	as above	Buy	34,128	3,518	3,518
16/02/2021	as above	Buy	238,327	24,567	24,567
16/02/2021	as above	Buy	182,711	18,834	18,834
16/02/2021	as above	Buy	431,505	44,480	44,480
16/02/2021	as above	Buy	144,314	14,876	14,876
16/02/2021	as above	Buy	183,089	18,873	18,873
16/02/2021	as above	Buy	192,402	19,833	19,833
17/02/2021	as above	Buy	213,620	21,437	21,437
17/02/2021	as above	Buy	4,870	489	489
17/02/2021	as above	Buy	30,961	3,107	3,107
17/02/2021	as above	Buy	707	71	71
17/02/2021	as above	Buy	87,174	8,748	8,748
17/02/2021	as above	Buy	1,992	200	200
17/02/2021	as above	Buy	66,207	6,644	6,644
17/02/2021	as above	Buy	1,514	152	152
17/02/2021	as above	Buy	462,336	46,396	46,396
17/02/2021	as above	Buy	10,548	1,059	1,059
17/02/2021	as above	Buy	354,445	35,569	35,569
17/02/2021	as above	Buy	8,088	812	812
17/02/2021	as above	Buy	837,100	84,004	84,004
17/02/2021	as above	Buy	19,093	1,917	1,917
17/02/2021	as above	Buy	279,967	28,095	28,095
17/02/2021	as above	Buy	6,384	641	641
17/02/2021	as above	Buy	355,183	35,643	35,643
17/02/2021	as above	Buy	8,107	814	814
17/02/2021	as above	Buy	373,249	37,456	37,456
17/02/2021	as above	Buy	8,516	855	855
18/02/2021	as above	Buy	19,377	1,961	1,961
18/02/2021	as above	Buy	2,806	284	284
18/02/2021	as above	Buy	7,905	800	800
18/02/2021	as above	Buy	6,008	608	608
18/02/2021	as above	Buy	41,936	4,244	4,244
18/02/2021	as above	Buy	32,144	3,253	3,253

Page 1 of 4

Date of Change	Holder of relevant interest	Nature of Change	Consideration	Number of Securities	Person's Votes Affected
18/02/2021	as above	Buy	75,927	7,684	7,684
18/02/2021	as above	Buy	25,395	2,570	2,570
18/02/2021	as above	Buy	32,213	3,260	3,260
18/02/2021	as above	Buy	7,645	768	768
18/02/2021	as above	Buy	33,853	3,426	3,426
19/02/2021	as above	Buy	29,476	2,991	2,991
19/02/2021	as above	Buy	4,277	434	434
19/02/2021	as above	Buy	12,023	1,220	1,220
19/02/2021	as above	Buy	9,135	927	927
19/02/2021	as above	Buy	63,790	6,473	6,473
19/02/2021	as above	Buy	48,900	4,962	4,962
19/02/2021	as above	Buy	115,488	11,719	11,719
19/02/2021	as above	Buy	38,631	3,920	3,920
19/02/2021	as above	Buy	49,008	4,973	4,973
19/02/2021	as above	Buy	51,501	5,226	5,226
22/02/2021	as above	Buy	4,442	451	451
22/02/2021	as above	Buy	640	65	65
22/02/2021	as above	Buy	1,812	184	184
22/02/2021	as above	Buy	1,379	140	140
22/02/2021	as above	Buy	9,623	977	977
22/02/2021	as above	Buy	7,378	749	749
22/02/2021	as above	Buy	17,425	1,769	1,769
22/02/2021	as above	Buy	5,831	592	592
22/02/2021	as above	Buy	7,388	750	750
22/02/2021	as above	Buy	7,772	789	789
23/02/2021	as above	Buy	43,855	4,435	4,435
23/02/2021	as above	Buy	3,301	337	337
23/02/2021	as above	Buy	6,358	643	643
23/02/2021	as above	Buy	480	49	49
23/02/2021	as above	Buy	17,898	1,810	1,810
23/02/2021	as above	Buy	1,342	137	137
23/02/2021	as above	Buy	13,587	1,374	1,374
23/02/2021	as above	Buy	1,019	104	104
23/02/2021	as above	Buy	94,919	9,599	9,599
23/02/2021	as above	Buy	7,141	729	729
23/02/2021	as above	Buy	72,769	7,359	7,359
23/02/2021	as above	Buy	5,476	559	559
23/02/2021	as above	Buy	171,851	17,379	17,379
23/02/2021	as above	Buy	12,921	1,319	1,319
23/02/2021	as above	Buy	57,471	5,812	5,812
23/02/2021	as above	Buy	4,320	441	441
23/02/2021	as above	Buy	72,917	7,374	7,374
23/02/2021	as above	Buy	5,486	560	560
23/02/2021	as above	Buy	76,625	7,749	7,749
23/02/2021	as above	Buy	5,760	588	588
24/02/2021	as above	Buy	13,734	1,414	1,414
24/02/2021	as above	Buy	20,215	2,082	2,082
24/02/2021	as above	Buy	2,040	210	210
24/02/2021	as above	Buy	3,000	309	309
24/02/2021	as above	Buy	5,663	583	583
24/02/2021	as above	Buy	8,341	859	859
24/02/2021	as above	Buy	4,303	443	443
24/02/2021	as above	Buy	6,340	653	653
24/02/2021	as above	Buy	30,052	3,094	3,094
24/02/2021	as above	Buy	44,247	4,557	4,557
24/02/2021	as above	Buy	23,078	2,376	2,376
24/02/2021	as above	Buy	33,974	3,499	3,499
24/02/2021	as above	Buy	54,597	5,621	5,621

Page 2 of 4

Date of Change	Holder of relevant interest	Nature of Change	Consideration	Number of Securities	Person's Votes Affected
24/02/2021	as above	Buy	80,376	8,278	8,278
24/02/2021	as above	Buy	18,183	1,872	1,872
24/02/2021	as above	Buy	26,769	2,757	2,757
24/02/2021	as above	Buy	23,088	2,377	2,377
24/02/2021	as above	Buy	33,993	3,501	3,501
24/02/2021	as above	Buy	23,117	2,380	2,380
24/02/2021	as above	Buy	34,032	3,505	3,505
25/02/2021	as above	Buy	2,351	240	240
25/02/2021	as above	Buy	353	36	36
25/02/2021	as above	Buy	970	99	99
25/02/2021	as above	Buy	735	75	75
25/02/2021	as above	Buy	5,154	526	526
25/02/2021	as above	Buy	3,958	404	404
25/02/2021	as above	Buy	9,367	956	956
25/02/2021	as above	Buy	3,116	318	318
25/02/2021	as above	Buy	3,958	404	404
25/02/2021	as above	Buy	3,968	405	405
26/02/2021	as above	Buy	40,102	4,165	4,165
26/02/2021	as above	Buy	5,960	619	619
26/02/2021	as above	Buy	16,541	1,718	1,718
26/02/2021	as above	Buy	12,575	1,306	1,306
26/02/2021	as above	Buy	87,762	9,115	9,115
26/02/2021	as above	Buy	67,369	6,997	6,997
26/02/2021	as above	Buy	159,377	16,553	16,553
26/02/2021	as above	Buy	53,100	5,515	5,515
26/02/2021	as above	Buy	67,417	7,002	7,002
26/02/2021	as above	Buy	31,963	3,324	3,324
26/02/2021	as above	Buy	67,494	7,010	7,010
01/03/2021	as above	Buy	29,294	3,021	3,021
01/03/2021	as above	Buy	4,354	449	449
01/03/2021	as above	Buy	12,082	1,246	1,246
01/03/2021	as above	Buy	9,183	947	947
01/03/2021	as above	Buy	64,115	6,612	6,612
01/03/2021	as above	Buy	49,221	5,076	5,076
01/03/2021	as above	Buy	116,459	12,010	12,010
01/03/2021	as above	Buy	38,797	4,001	4,001
01/03/2021	as above	Buy	49,260	5,080	5,080
01/03/2021	as above	Buy	22,848	2,347	2,347
01/03/2021	as above	Buy	49,318	5,086	5,086
02/03/2021	as above	Buy	59,354	6,121	6,121
02/03/2021	as above	Buy	8,814	909	909
02/03/2021	as above	Buy	24,484	2,525	2,525
02/03/2021	as above	Buy	18,608	1,919	1,919
02/03/2021	as above	Buy	129,918	13,398	13,398
02/03/2021	as above	Buy	99,722	10,284	10,284
02/03/2021	as above	Buy	235,943	24,332	24,332
02/03/2021	as above	Buy	78,602	8,106	8,106
02/03/2021	as above	Buy	99,790	10,291	10,291
02/03/2021	as above	Buy	99,906	10,303	10,303
03/03/2021	as above	Buy	23,537	2,430	2,430
03/03/2021	as above	Buy	3,497	361	361
03/03/2021	as above	Buy	9,705	1,002	1,002
03/03/2021	as above	Buy	7,381	762	762
03/03/2021	as above	Buy	51,500	5,317	5,317
03/03/2021	as above	Buy	39,538	4,082	4,082
03/03/2021	as above	Buy	93,527	9,656	9,656
03/03/2021	as above	Buy	31,160	3,217	3,217
03/03/2021	as above	Buy	39,557	4,084	4,084
03/03/2021	as above	Buy	34,408	3,557	3,557
03/03/2021	as above	Buy	342,731	35,375	35,375
03/03/2021	as above	Buy	39,606	4,089	4,089
04/03/2021	as above	Buy	15,355	1,603	1,603
04/03/2021	as above	Buy	2,280	238	238
04/03/2021	as above	Buy	6,332	661	661
04/03/2021	as above	Buy	4,809	502	502

Page 3 of 4

Date of Change	Holder of relevant interest	Nature of Change	Consideration	Number of Securities	Person's Votes Affected
04/03/2021	as above	Buy	33,593	3,507	3,507
04/03/2021	as above	Buy	25,796	2,693	2,693
04/03/2021	as above	Buy	61,027	6,371	6,371
04/03/2021	as above	Buy	20,326	2,122	2,122
04/03/2021	as above	Buy	25,805	2,694	2,694
04/03/2021	as above	Buy	25,844	2,698	2,698
05/03/2021	as above	Buy	33,022	3,471	3,471
05/03/2021	as above	Buy	4,909	516	516
05/03/2021	as above	Buy	13,623	1,432	1,432
05/03/2021	as above	Buy	81,852	8,563	8,563
05/03/2021	as above	Buy	159,221	16,657	16,657
05/03/2021	as above	Buy	10,351	1,088	1,088
05/03/2021	as above	Buy	72,265	7,596	7,596
05/03/2021	as above	Buy	55,474	5,831	5,831
05/03/2021	as above	Buy	131,221	13,793	13,793
05/03/2021	as above	Buy	43,725	4,596	4,596
05/03/2021	as above	Buy	55,512	5,835	5,835
05/03/2021	as above	Buy	55,578	5,842	5,842
08/03/2021	as above	Buy	98,294	10,123	10,123
08/03/2021	as above	Buy	6,642	694	694
08/03/2021	as above	Buy	14,604	1,504	1,504
08/03/2021	as above	Buy	986	103	103
08/03/2021	as above	Buy	40,559	4,177	4,177
08/03/2021	as above	Buy	2,737	286	286
08/03/2021	as above	Buy	30,810	3,173	3,173
08/03/2021	as above	Buy	2,086	218	218
08/03/2021	as above	Buy	215,125	22,155	22,155
08/03/2021	as above	Buy	14,537	1,519	1,519
08/03/2021	as above	Buy	165,138	17,007	17,007
08/03/2021	as above	Buy	11,159	1,166	1,166
08/03/2021	as above	Buy	390,721	40,239	40,239
08/03/2021	as above	Buy	26,413	2,760	2,760
08/03/2021	as above	Buy	130,182	13,407	13,407
08/03/2021	as above	Buy	8,795	919	919
08/03/2021	as above	Buy	165,254	17,019	17,019
08/03/2021	as above	Buy	11,168	1,167	1,167
08/03/2021	as above	Buy	165,449	17,039	17,039
08/03/2021	as above	Buy	11,178	1,168	1,168
					-
			Total Number of Securities	1,202,548	1,202,548
					-

Page 4 of 4

Annexure 2

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Linda Matthews - Company Secretary of Challenger Limited

10/03/20�1

10/03/20�1
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

������������������������������������������������������������04 - change of interest

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Linda Matthews - Company Secretary of Challenger Limited

10/03/20�1

10/03/20�1
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

�������������������������������������������������������������4 - change of interest

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Linda Matthews - Company Secretary of Challenger Limited

10/03/20�1

10/03/20�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

�������������������������������������������������������������4 - change of interest

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

Linda Matthews - Company Secretary of Challenger Limited

Linda Matthews - Company Secretary of Challenger Limited
10/03/20�1	ACN /	Country of
Company Name	Company No.	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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