H&G HIGH CONVICTION LIMITED — Major Shareholding Notification 2022

Oct 25, 2022

Form 603 Corporations Act 2001 Section 671B

Notice of initial substantial holder

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To: H&G High Conviction Ltd
ACN/ARSN: 78 660 009 165 Source: Australian Business Register
Name: Perennial Value Management Limited
ACN: 22 090 879 904
The holder became a substantial shareholder on: 25 October 2022
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2. Details of Voting Power

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The total number of votes attached to all the voting shares in the company or voting interest in the scheme that the substantial holder or an associate had
a relevant interest in on the date the substantial holder are as follows:
Class of securities Number of securities Person’s votes Voting Power (%)
Ordinary 3,100,153 3,100,153 14.05
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3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a susbstantial holder are as follows:

Holder of relevant interest	Nature of relevenat interest	Class & number of securities (Ord)	Class & number of securities (Ord)
Perennial Value Management	Investment Manager		3,100,153
Limited

4. Details of present registered holders

The persons registered as holders of the securities referred to paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as	Class & number of
		holder	securities (Ord)
Perennial Value Management Limited	National Asset Servicing	National Asset Servicing	3,100,153

5. Consideration

The consideration paid for each relevant interest referred to paragraph 3 above, and acquired in the four months prior to the day that the substantial

Holder of relevant interest	Date of acquisition	Date of acquisition		Consideration				Class & and	number of
				Cash		Non-cash		securities
Perennial Value Management			24/10/2022	$	2,031,427.25		2,066,769		2,066,769
Limited
Perennial Value Management			24/10/2022	$	253,928.28		258,346		258,346
Limited
Perennial Value Management			24/10/2022	$	761,784.85		775,038		775,038
Limited
6. Associates
The reasons the persons above in paragraph 3 above are associates of the substantial					holder are as follows:
Name & ACN		Nature of association

Not applicable

7. Addresses

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

Name	Address
Perennial Value Management Limited	Level 27, 88 Phillip St Sydney NSW 2000
H&G High Conviction Ltd
Signature Print Name	Bill Anastasopoulos Capacity	Company Secretary
Sign Here	Date	26/10/2022