GR ENGINEERING SERVICES LIMITED — Major Shareholding Notification 2021

May 5, 2021

604 Page 1 of 2 15 July 2001

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme GR ENGINEERING SERVICES LTD

ACN/ARSN 121 542 738

1. Details of substantial holder (1)

Name Spheria Asset Management Pty Ltd

ACN/ARSN (if applicable) 611 081 326

There was a change in the interests of the substantial holder on 04/05/2021 The previous notice was given to the company on 05/11/2019 The previous notice was dated 05/11/2019

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		Present notice
	Person’s votes	Voting power(5)	Person’s votes	Voting power(5)
ORDINARY FULLY PAID	18,502,822	12.04%	17,258,746	10.75%
			REFER TO ANNEXURE A

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 interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
REFER TO ANNEXURE B

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
REFER TO ANNEXURE C

604 Page 2 of 2 15 July 2001

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

6. Addresses

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

Name	Address
REFER TO ANNEXURE D

Signature

print name MATTHEW BOOKER capacity DIRECTOR sign here date 06/05/2021

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.

GR ENGINEERING SERVICES LTD

GR ENGINEERING SERVICES LTD	GR ENGINEERING SERVICES LTD	GR ENGINEERING SERVICES LTD	GR ENGINEERING SERVICES LTD	GR ENGINEERING SERVICES LTD
Annexure A
Holder of relevant interest	Nature of relevant interest	Number of securities	Class of securities
Spheria Asset Management Pty Ltd	Spheria Asset Management Pty Ltd in its capacity as investment manager has the power to control voting and/or disposal of securities.	17,258,746	ORDINARY FULLY PAID

This is Annexure "A" as mentioned in form 604 Notice of change of interests of substantial holder

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Matthew Booker Director Date: 06/05/2021

GR ENGINEERING SERVICES LTD	GR ENGINEERING SERVICES LTD	GR ENGINEERING SERVICES LTD	GR ENGINEERING SERVICES LTD	GR ENGINEERING SERVICES LTD	GR ENGINEERING SERVICES LTD	GR ENGINEERING SERVICES LTD	GR ENGINEERING SERVICES LTD
Annexure B
Date of change	Person whose relevant interest changed	Nature of change	Consideration		Class of Securities	Number of securities	Person's votes affected
			Cash	Non-cash
09/02/2021	Spheria Asset Management PtyLtd	Sale	6,299.20 -$		ORDINARY FULLY PAID	4,960 -	4,960 -
01/03/2021	As above	Sale	43,678.57 -$		ORDINARY FULLY PAID	30,119 -	30,119 -
02/03/2021	As above	Sale	110,174.15 -$		ORDINARY FULLY PAID	74,872 -	74,872 -
03/03/2021	As above	Sale	14,235.07 -$		ORDINARY FULLY PAID	9,797 -	9,797 -
04/03/2021	As above	Sale	28,512.97 -$		ORDINARY FULLY PAID	19,694 -	19,694 -
09/03/2021	As above	Sale	36,993.19 -$		ORDINARY FULLY PAID	26,488 -	26,488 -
10/03/2021	As above	Sale	6,188.00 -$		ORDINARY FULLY PAID	4,420 -	4,420 -
11/03/2021	As above	Sale	38,593.64 -$		ORDINARY FULLY PAID	26,434 -	26,434 -
31/03/2021	As above	Purchase	20,440.80 $		ORDINARY FULLY PAID	17,000	17,000
01/04/2021	As above	Purchase	3,599.00 $		ORDINARY FULLY PAID	2,950	2,950
07/04/2021	As above	Purchase	986.25 $		ORDINARY FULLY PAID	789	789
09/04/2021	As above	Purchase	8,792.28 $		ORDINARY FULLY PAID	6,978	6,978
12/04/2021	As above	Purchase	14,755.86 $		ORDINARY FULLY PAID	11,711	11,711
03/05/2021	As above	Sale	32,491.68 -$		ORDINARY FULLY PAID	23,905 -	23,905 -
04/05/2021	As above	Sale	739,443.60 -$		ORDINARY FULLY PAID	547,736 -	547,736 -

This is Annexure "B" as mentioned in form 604 Notice of change of interests of substantial holder

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Matthew Booker Director Date: 06/05/2021

GR ENGINEERING SERVICES LTD

GR ENGINEERING SERVICES LTD	GR ENGINEERING SERVICES LTD	GR ENGINEERING SERVICES LTD	GR ENGINEERING SERVICES LTD	GR ENGINEERING SERVICES LTD	GR ENGINEERING SERVICES LTD
Annexure C
Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder	Number of securities	Class of securities	Person's votes
Spheria Asset Management Pty Ltd	BNP Paribas Securities Services	BNP Paribas Securities Services	1,824,624	Ordinary fully paid	1,824,624
Spheria Asset Management Pty Ltd	NAB Custodial Services	NAB Custodial Services	1,459,894	Ordinary fully paid	1,459,894
Spheria Asset Management Pty Ltd	JP Morgan Chase Bank	JP Morgan Chase Bank	3,564,364	Ordinary fully paid	3,564,364
Spheria Asset Management Pty Ltd	Northern Trust	Northern Trust	3,435,799	Ordinary fully paid	3,435,799
Spheria Asset Management Pty Ltd	Citibank	Citibank	1,341,326	Ordinary fully paid	1,341,326
Spheria Asset Management Pty Ltd	RBC Investor Services Trust	RBC Investor Services Trust	5,632,739	Ordinary fully paid	5,632,739

This is Annexure "C" of 1 page as mentioned in form 604 Notice of change of interests of substantial holder

`

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Matthew Booker Director Date: 06/05/2021

GR ENGINEERING SERVICES LTD

GR ENGINEERING SERVICES LTD	GR ENGINEERING SERVICES LTD
Annexure D
Name	Address
Spheria Asset Management PtyLtd	Level 19, 307 Queen St, Brisbane QLD 4000, Australia

This is Annexure "D" as mentioned in form 604 Notice of change of interests of substantial holder

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Matthew Booker Director Date: 06/05/2021