FRONTIER DIGITAL VENTURES LIMITED — Major Shareholding Notification 2021

Nov 30, 2021

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

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|To Company Name/Scheme|Frontier Digital Ventures Ltd|
|ACN/ARSN:|ABN 25 609 183 959|Source:|Australian Business Register|
|1. Details of substantial holder (1)|
|Name:|Perennial Value Management Limited (PVM)|
|ACN/ARSN (if applicable)|22 090 879 904|
|There was a change in the interest of the substantial holder on|29 November 2021|
|The previous notice was given to the company on|25 October 2021|
|The previous notice was dated|22 October 2021|

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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 (2) had a relavant interest (3) 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 (4) Previous notice Present notice
Person's votes Voting Power (%) (5) Person's votes Voting Power (%) (5)
Ordinary 21,713,805 6.33 17,180,203 5.01
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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:

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|Date of change|Person whose relevant|Nature of change (6)|Consideration given in|Class & number of|Person's votes affected|
|interest changed|relation to change (7)|securities affected|
|25/10/2021|[BNP Paribas Securities Services]|[Sell On the Market]|$ 24,231.57|16,190|16,190|
|25/10/2021|[BNP Paribas Securities Services]|[Sell On the Market]|$ 19,135.30|12,785|12,785|
|25/10/2021|[Citicorp Nominees Pty Limited]|Sell On the Market|$ 48,365.85|32,315|32,315|
|25/10/2021|[National Asset Servicing]|Sell On the Market|$ 47,259.80|31,576|31,576|
|25/10/2021|[National Asset Servicing]|Sell On the Market|$ 11,306.07|7,554|7,554|
|25/10/2021|[National Asset Servicing]|Sell On the Market|$|4,409.28|2,946|2,946|
|25/10/2021|[National Asset Servicing]|Sell On the Market|$ 36,535.95|24,411|24,411|
|25/10/2021|[Northern Trust]|Sell On the Market|$ 35,844.46|23,949|23,949|
|26/10/2021|[BNP Paribas Securities Services]|[Sell On the Market]|$ 6,154.43|4,112|4,112|
|26/10/2021|[BNP Paribas Securities Services]|[Sell On the Market]|$ 4,859.79|3,247|3,247|
|26/10/2021|[Citicorp Nominees Pty Limited]|Sell On the Market|$ 12,286.41|8,209|8,209|
|26/10/2021|[National Asset Servicing]|Sell On the Market|$|9,281.04|6,201|6,201|
|26/10/2021|[National Asset Servicing]|Sell On the Market|$ 12,005.03|8,021|8,021|
|26/10/2021|[National Asset Servicing]|Sell On the Market|$|2,872.16|1,919|1,919|
|26/10/2021|[National Asset Servicing]|Sell On the Market|$|1,119.54|748|748|
|26/10/2021|[Northern Trust]|Sell On the Market|$|9,105.92|6,084|6,084|
|27/10/2021|[BNP Paribas Securities Services]|[Sell On the Market]|$ 71,964.32|48,082|48,082|
|27/10/2021|[BNP Paribas Securities Services]|[Sell On the Market]|$ 56,828.20|37,969|37,969|
|27/10/2021|[Citicorp Nominees Pty Limited]|Sell On the Market|$ 143,641.29|95,972|95,972|
|27/10/2021|[National Asset Servicing]|Sell On the Market|$ 140,359.03|93,779|93,779|
|27/10/2021|[National Asset Servicing]|Sell On the Market|$ 33,575.47|22,433|22,433|
|27/10/2021|[National Asset Servicing]|Sell On the Market|$ 13,094.62|8,749|8,749|
|27/10/2021|[National Asset Servicing]|Sell On the Market|$ 108,509.25|72,499|72,499|
|27/10/2021|[Northern Trust]|Sell On the Market|$ 106,455.78|71,127|71,127|
|28/10/2021|[National Asset Servicing]|Sell On the Market|$ 382,202.82|245,542|245,542|
|28/10/2021|[National Asset Servicing]|Sell On the Market|$ 121,082.31|77,788|77,788|
|28/10/2021|[National Asset Servicing]|Sell On the Market|$ 41,513.67|26,670|26,670|
|1/11/2021|[BNP Paribas Securities Services]|[Sell On the Market]|$ 6,506.82|3,524|3,524|
|1/11/2021|[BNP Paribas Securities Services]|[Sell On the Market]|$ 4,891.19|2,649|2,649|
|1/11/2021|[Citicorp Nominees Pty Limited]|Sell On the Market|$ 19,444.74|10,531|10,531|
|1/11/2021|[National Asset Servicing]|Sell On the Market|$|6,881.64|3,727|3,727|
|1/11/2021|[National Asset Servicing]|Sell On the Market|$|3,524.82|1,909|1,909|
|1/11/2021|[National Asset Servicing]|Sell On the Market|$|1,083.85|587|587|
|1/11/2021|[National Asset Servicing]|Sell On the Market|$|9,859.93|5,340|5,340|
|1/11/2021|[Northern Trust]|Sell On the Market|$|9,180.45|4,972|4,972|
|2/11/2021|[BNP Paribas Securities Services]|[Sell On the Market]|$ 8,063.55|4,398|4,398|
|2/11/2021|[BNP Paribas Securities Services]|[Sell On the Market]|$ 6,063.24|3,307|3,307|
|2/11/2021|[Citicorp Nominees Pty Limited]|Sell On the Market|$ 24,098.97|13,144|13,144|
|2/11/2021|[National Asset Servicing]|Sell On the Market|$|8,527.41|4,651|4,651|
|2/11/2021|[National Asset Servicing]|Sell On the Market|$|4,369.12|2,383|2,383|
|2/11/2021|[National Asset Servicing]|Sell On the Market|$|1,343.93|733|733|
|2/11/2021|[National Asset Servicing]|Sell On the Market|$ 12,220.00|6,665|6,665|
|2/11/2021|[Northern Trust]|Sell On the Market|$ 11,376.61|6,205|6,205|
|3/11/2021|[BNP Paribas Securities Services]|[Sell On the Market]|$ 18,615.38|10,578|10,578|

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3/11/2021 [BNP Paribas Securities Services] [Sell On the Market] $ 3,863.29 2,129 2,129
3/11/2021 [BNP Paribas Securities Services] [Sell On the Market] $ 14,393.56 8,179 8,179
3/11/2021 [BNP Paribas Securities Services] [Sell On the Market] $ 2,986.83 1,646 1,646
3/11/2021 [Citicorp Nominees Pty Limited] Sell On the Market $ 11,544.48 6,362 6,362
3/11/2021 [Citicorp Nominees Pty Limited] Sell On the Market $ 55,629.67 31,611 31,611
3/11/2021 [National Asset Servicing] Sell On the Market $ 19,683.58 11,185 11,185
3/11/2021 [National Asset Servicing] Sell On the Market $ 4,084.66 2,251 2,251
3/11/2021 [National Asset Servicing] Sell On the Market $ 10,083.77 5,730 5,730
3/11/2021 [National Asset Servicing] Sell On the Market $ 2,092.24 1,153 1,153
3/11/2021 [National Asset Servicing] Sell On the Market $ 3,102.56 1,763 1,763
3/11/2021 [National Asset Servicing] Sell On the Market $ 644.18 355 355
3/11/2021 [National Asset Servicing] Sell On the Market $ 28,209.92 16,030 16,030
3/11/2021 [National Asset Servicing] Sell On the Market $ 5,853.90 3,226 3,226
3/11/2021 [Northern Trust] Sell On the Market $ 26,263.56 14,924 14,924
3/11/2021 [Northern Trust] Sell On the Market $ 5,449.25 3,003 3,003
4/11/2021 [BNP Paribas Securities Services] [Sell On the Market] $ 13,835.34 7,844 7,844
4/11/2021 [BNP Paribas Securities Services] [Sell On the Market] $ 10,697.52 6,065 6,065
4/11/2021 [Citicorp Nominees Pty Limited] Sell On the Market $ 41,343.73 23,440 23,440
4/11/2021 [National Asset Servicing] Sell On the Market $ 14,629.05 8,294 8,294
4/11/2021 [National Asset Servicing] Sell On the Market $ 7,494.44 4,249 4,249
4/11/2021 [National Asset Servicing] Sell On the Market $ 2,305.30 1,307 1,307
4/11/2021 [National Asset Servicing] Sell On the Market $ 20,966.42 11,887 11,887
4/11/2021 [Northern Trust] Sell On the Market $ 19,520.10 11,067 11,067
5/11/2021 [BNP Paribas Securities Services] [Sell On the Market] $ 6,676.19 3,724 3,724
5/11/2021 [BNP Paribas Securities Services] [Sell On the Market] $ 5,161.31 2,879 2,879
5/11/2021 [Citicorp Nominees Pty Limited] Sell On the Market $ 19,951.48 11,129 11,129
5/11/2021 [National Asset Servicing] Sell On the Market $ 7,059.83 3,938 3,938
5/11/2021 [National Asset Servicing] Sell On the Market $ 3,615.96 2,017 2,017
5/11/2021 [National Asset Servicing] Sell On the Market $ 1,113.30 621 621
5/11/2021 [National Asset Servicing] Sell On the Market $ 10,116.47 5,643 5,643
5/11/2021 [Northern Trust] Sell On the Market $ 9,419.09 5,254 5,254
8/11/2021 [BNP Paribas Securities Services] [Sell On the Market] $ 21.56 12 12
8/11/2021 [BNP Paribas Securities Services] [Sell On the Market] $ 16.17 9 9
8/11/2021 [Citicorp Nominees Pty Limited] Sell On the Market $ 64.66 36 36
8/11/2021 [National Asset Servicing] Sell On the Market $ 23.34 13 13
8/11/2021 [National Asset Servicing] Sell On the Market $ 12.57 7 7
8/11/2021 [National Asset Servicing] Sell On the Market $ 3.59 2 2
8/11/2021 [National Asset Servicing] Sell On the Market $ 34.12 19 19
8/11/2021 [Northern Trust] Sell On the Market $ 30.53 17 17
9/11/2021 [BNP Paribas Securities Services] [Sell On the Market] $ 3,187.97 1,775 1,775
9/11/2021 [BNP Paribas Securities Services] [Sell On the Market] $ 2,464.17 1,372 1,372
9/11/2021 [Citicorp Nominees Pty Limited] Sell On the Market $ 9,526.20 5,304 5,304
9/11/2021 [National Asset Servicing] Sell On the Market $ 3,371.16 1,877 1,877
9/11/2021 [National Asset Servicing] Sell On the Market $ 1,727.79 962 962
9/11/2021 [National Asset Servicing] Sell On the Market $ 531.62 296 296
9/11/2021 [National Asset Servicing] Sell On the Market $ 4,831.35 2,690 2,690
9/11/2021 [Northern Trust] Sell On the Market $ 4,497.29 2,504 2,504
11/11/2021 [BNP Paribas Securities Services] [Sell On the Market] $ 240,522.52 140,147 140,147
11/11/2021 [BNP Paribas Securities Services] [Sell On the Market] $ 86,507.58 50,406 50,406
11/11/2021 [National Asset Servicing] Sell On the Market $ 14,901.90 8,683 8,683
11/11/2021 [National Asset Servicing] Sell On the Market $ 330,841.83 192,774 192,774
11/11/2021 [Northern Trust] Sell On the Market $ 48,036.88 27,990 27,990
29/11/2021 [National Asset Servicing] Sell On the Market $ 2,352,553.68 1,541,007 1,541,007
29/11/2021 [National Asset Servicing] Sell On the Market $ 1,479,570.92 969,172 969,172
29/11/2021 [National Asset Servicing] Sell On the Market $ 444,926.79 291,443 291,443
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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	Person entitled to be	Nature of relevant	Nature of relevant	Class & number	of	Person's votes
	securities	registered as holder (8)	interest (6)		securities (Ord)
Perennial Value Management Limited	National Asset Servicing	National Asset Servicing		5,510,459		5,510,459		5,510,459
Perennial Value Management	Northern Trust	Northern Trust		2,567,478		2,567,478		2,567,478
Limited
Perennial Value Management Limited	BNP Paribas Securities Services	BNP Paribas Securities Services		3,081,678		3,081,678		3,081,678
Perennial Value Management Limited	Citicorp Nominees Pty Limited	Citicorp Nominees Pty Limited		6,020,588		6,020,588		6,020,588

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 & ACN

Nature of association

Not applicable

6. Addresses

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

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Name Address
Perennial Value Management Ltd Level 27, 88 Phillip St
Sydney NSW 2000
Frontier Digital Ventures Ltd Frontier Digital Ventures LtdLevel 7, 330 Collins Street,
Melbourne, 3000
Signature
Print Name Bill Anastasopoulos Capacity Company Secretary
Sign Here Date 30/11/2021
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