CHORUS LIMITED — Major Shareholding Notification 2013

Feb 3, 2013

Form 604 Corporations Law Section 671B Notice of change of interests of substantial holder Chorus Limited To Company Name/Scheme 152 485 848 ACN/ARSN 1. Details of substantial holder (1) Name Schroder Investment Management Australia Limited ACN/ARSN (if applicable) 22 000 443 274 There was a change in the interests of the 04/02/2013 substantial holder on The previous notice was given to the 28/01/2013 company on 28/01/2013 The previous notice was dated

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:

Class of securities (4)	Previous notice	Previous notice	Present notice	Present notice
	Person’svotes	Voting power(5)	Person’svotes	Voting power(5)
Ordinary Shares	40,446,688	10.50%	38,288,978	9.94%

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 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
28/01/2013 - 04/02/2013	SIMAL	Sell	6,160,00	2,200,000	2,200,000
28/01/2013 - 04/02/2013	SIMNA LTD	Purchase	118,412	42,290	42,290

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows: Holder of Registered holder Beneficial Owner Nature of Class and Person’s

relevant interest	of securities		relevant interest	number of securities	votes
SIMAL	BNP Paribas	BNP Paribas	Power to dispose of securities	2,288,894	2,288,894
SIMAL	JP Morgan Custodial Services	JP Morgan Custodial Services	Power to dispose of securities	8,081,912	8,081,912
SIMAL	Citicorp Nominees Ltd HK	Citicorp Nominees Ltd HK	Power to dispose of securities	2,996,494	2,996,494
SIMAL	HSBC Custody Nominees (Australia)Ltd	HSBC Custody Nominees (Australia)Ltd	Power to dispose of securities	2,068,452	2,068,452
SIMAL	National Nominees Ltd - Melbourne	National Nominees Ltd - Melbourne	Power to dispose of securities	5,585,555	5,585,555
SIMAL	State Street Australia Limited	State Street Australia Limited	Power to dispose of securities	2,038,045	2,038,045
SIM LTD	JP Morgan Chase (Bournemouth)	JP Morgan Chase (Bournemouth)	Power to dispose of securities	7,835,499	7,835,499
SIMNA LTD	JP Morgan Chase (New York)	JP Morgan Chase (New York)	Power to dispose of securities	457,259	457,259
SIMNA LTD	JP Morgan Chase (Bournemouth)	JP Morgan Chase (Bournemouth)	Power to dispose of securities	4,851,733	4,851,733
SIMNA LTD	State Street Bank &Trust Co	State Street Bank & Trust Co	Power to dispose of securities	1,964,782	1,964,782
SIMNA LTD	Bank of New York (New York)	Bank of New York (New York)	Power to dispose of securities	314,473	314,473

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
Schroder Investment Management Australia Limited (“SIMAL”)	Relevant Fund Manager
Schroder Investment Management UK Limited (“SIM LTD”)	Relevant Fund Manager
Schroder Investment Management North America (“SIMNA LTD”)	Relevant Fund Manager

6. Addresses

The addresses of persons named in this form are:

Name	Address
Schroder Investment Management (Australia) Limited (“SIMAL”)	Level 20, Angel Place, 123 Pitt Street, Sydney, 2000, Australia
Schroder Investment Management Limited (“SIM LTD”)	31 Gresham Street, London EC2V 7QA, UK

Schroder Investment Management North America 31 Gresham Street, London EC2V 7QA, UK (“SIMNA LTD”)