HUB24 LIMITED — Major Shareholding Notification 2019

May 2, 2019

604 Page 1 of 3 15 July 2001

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme

HUB24 LTD

ACN/ARSN 124 891 685

1. Details of substantial holder (1)

PINNACLE INVESETMENT MANAGEMENT GROUP LIMITED (AND ITS SUBSIDIARIES Name LISTED IN ANNEXURE A)

ACN/ARSN (if applicable)

100 325 184

There was a change in the interests of the substantial holder on

substantial holder on 30/04/2019 The previous notice was given to the company on 14/03/2019 The previous notice was dated 17/03/2019

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	5,782,405	9.28%	6,448,670	10.35%
			REFER TO ANNEXURE A PART 1 AND PART 2

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 3 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

NO CHANGES - REFER TO
ANNEXURE D FOR PRESENT
ASSOCIATIONS

6. Addresses

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

Name	Address
REFER TO ANNEXURE E

Signature

print name sign here	CALVIN KWOK capacity COMPANY SECRETARY
	date 03/05/2019

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".

HUB24 LTD

HUB24 LTD	HUB24 LTD	HUB24 LTD	HUB24 LTD	HUB24 LTD
Annexure A - Part 1
Holder of relevant interest	Nature of relevant interest	Number of securities	Class of securities
Pinnacle Investment Management Group Limited Pinnacle Investment Management Limited Ariano Pty Limited (ACN 605 250 799) Next Financial Limited (ACN 081 722 894) Next Financial Nominees Pty Ltd (ACN 093 252 576) Next Financial Nominees No. 2 Pty Ltd (ACN 132 819 115) Investment Solutions Client Services Pty Ltd (ACN 117 898 334) Priority Funds Management Pty Ltd (ACN 120 826 575) Priority Investment Management Pty Ltd (ACN 116 943 456 PNI Option Plan Managers Pty Ltd (ACN 125 030 766) Pinnacle RE Services Limited (ACN 130 508 379) Pinnacle Services Administration Pty Ltd (ACN 126 175 148) Pinnacle Investment Management (UK) Limited (Company Number 11026111) POSH Nominees Pty Limited (ACN 620 094 251)	Relevant interest by virtue of section 608(3) of the Corporations Act as it or its associates holds directly or indirectly above 20% voting power in one or more affiliated investment managers (see Annexure A – Part 2) and Pinnacle Fund Services Limited, who each in turn hold relevant interests in the securities the subject of this notice.	6,448,670	ORDINARY FULLY PAID
Pinnacle Fund Services Limited (ACN 082 494 362)	Relevant interest held through the power to control voting and/or disposal of securities in its capacity as responsible entity or trustee of registered or unregistered schemes and/or relevant interest by virtue of section 608(3) of the Corporations Act as it or its associates holds directly or indirectly above 20% voting power in one or more affiliated investment managers (see Annexure A – Part 2) who each in turn hold relevant interests in the securities the subject of this notice.	6,448,670	ORDINARY FULLY PAID

This is Annexure "A - Part 1" as mentioned in form 604 Notice of change of interests of substantial holder

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Calvin Kwok Company Secretary Date: 03/05/2019

HUB24 LTD

Annexure A - Part 2 Affiliated Investment Managers in which Pinnacle has over 20% voting power Antipodes Partners Limited (ACN 602 042 035) Hyperion Asset Management Limited (ACN 080 135 897) Metrics Credit Partnerst Pty Limited (ACN 150 646 996) Palisade Investment Partners Limited (ACN 124 326 361) Plato Investment Management Limited (ACN 120 730 136) Resolution Capital Limited (ACN 108 584 167) Solaris Investment Management Limited (ACN 128 512 621) Two Trees Investment Management Pty Limited (ACN 616 424 170)

This is Annexure "A - Part 2" as mentioned in form 604 Notice of change of interests of substantial holder

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Calvin Kwok Company Secretary Date: 03/05/2019

HUB24 LTD Annexure B

HUB24 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
4/04/2019	Pinnacle Investment Management Group Limited (and its subsidiaries listed in Annexure A)	Purchase	13,414.61 $		ORDINARY FULLY PAID	926	926
4/04/2019	As Above	Purchase	101.41 $		ORDINARY FULLY PAID	7	7
4/04/2019	As Above	Purchase	96,727.15 $		ORDINARY FULLY PAID	6,677	6,677
4/04/2019	As Above	Purchase	25,916.56 $		ORDINARY FULLY PAID	1,789	1,789
4/04/2019	As Above	Purchase	19,716.29 $		ORDINARY FULLY PAID	1,361	1,361
4/04/2019	As Above	Purchase	163,481.49 $		ORDINARY FULLY PAID	11,285	11,285
5/04/2019	As Above	Purchase	130.42 $		ORDINARY FULLY PAID	9	9
5/04/2019	As Above	Purchase	122,943.66 $		ORDINARY FULLY PAID	8,484	8,484
5/04/2019	As Above	Purchase	115.44 $		ORDINARY FULLY PAID	8	8
5/04/2019	As Above	Purchase	104,721.08 $		ORDINARY FULLY PAID	7,257	7,257
5/04/2019	As Above	Purchase	32,938.58 $		ORDINARY FULLY PAID	2,273	2,273
5/04/2019	As Above	Purchase	28,052.61 $		ORDINARY FULLY PAID	1,944	1,944
5/04/2019	As Above	Purchase	25,055.35 $		ORDINARY FULLY PAID	1,729	1,729
5/04/2019	As Above	Purchase	21,342.50 $		ORDINARY FULLY PAID	1,479	1,479

5/04/2019	As Above	Purchase	207,789.85 $		ORDINARY FULLY PAID	14,339	14,339
5/04/2019	As Above	Purchase	176,988.28 $		ORDINARY FULLY PAID	12,265	12,265
5/04/2019	As Above	Purchase	17,635.84 $		ORDINARY FULLY PAID	1,217	1,217
5/04/2019	As Above	Purchase	17,056.18 $		ORDINARY FULLY PAID	1,177	1,177
5/04/2019	As Above	Purchase	15,022.00 $		ORDINARY FULLY PAID	1,041	1,041
5/04/2019	As Above	Purchase	14,516.94 $		ORDINARY FULLY PAID	1,006	1,006
8/04/2019	As Above	Purchase	13,355.07 $		ORDINARY FULLY PAID	887	887
8/04/2019	As Above	Purchase	110,800.44 $		ORDINARY FULLY PAID	7,359	7,359
8/04/2019	As Above	Purchase	9,410.28 $		ORDINARY FULLY PAID	625	625
8/04/2019	As Above	Purchase	9,094.09 $		ORDINARY FULLY PAID	604	604
8/04/2019	As Above	Purchase	75.28 $		ORDINARY FULLY PAID	5	5
8/04/2019	As Above	Purchase	65,555.79 $		ORDINARY FULLY PAID	4,354	4,354
8/04/2019	As Above	Purchase	17,555.82 $		ORDINARY FULLY PAID	1,166	1,166
9/04/2019	As Above	Purchase	46,179.62 $		ORDINARY FULLY PAID	3,115	3,115
9/04/2019	As Above	Purchase	36,602.72 $		ORDINARY FULLY PAID	2,469	2,469
9/04/2019	As Above	Purchase	230,957.37 $		ORDINARY FULLY PAID	15,579	15,579
9/04/2019	As Above	Purchase	19,598.54 $		ORDINARY FULLY PAID	1,322	1,322
9/04/2019	As Above	Purchase	18,946.25 $		ORDINARY FULLY PAID	1,278	1,278
9/04/2019	As Above	Purchase	174,370.66 $		ORDINARY FULLY PAID	11,762	11,762

9/04/2019	As Above	Purchase	148.25 $		ORDINARY FULLY PAID	10	10
10/04/2019	As Above	Purchase	87,321.59 $		ORDINARY FULLY PAID	5,830	5,830
10/04/2019	As Above	Purchase	44,994.57 $		ORDINARY FULLY PAID	3,068	3,068
10/04/2019	As Above	Purchase	35,667.15 $		ORDINARY FULLY PAID	2,432	2,432
10/04/2019	As Above	Purchase	225,031.52 $		ORDINARY FULLY PAID	15,344	15,344
10/04/2019	As Above	Purchase	19,094.83 $		ORDINARY FULLY PAID	1,302	1,302
10/04/2019	As Above	Purchase	18,464.20 $		ORDINARY FULLY PAID	1,259	1,259
10/04/2019	As Above	Purchase	169,902.91 $		ORDINARY FULLY PAID	11,585	11,585
10/04/2019	As Above	Purchase	146.65 $		ORDINARY FULLY PAID	10	10
11/04/2019	As Above	Purchase	104,355.33 $		ORDINARY FULLY PAID	7,198	7,198
11/04/2019	As Above	Purchase	82,739.08 $		ORDINARY FULLY PAID	5,707	5,707
11/04/2019	As Above	Purchase	521,936.10 $		ORDINARY FULLY PAID	36,001	36,001
11/04/2019	As Above	Purchase	44,305.34 $		ORDINARY FULLY PAID	3,056	3,056
11/04/2019	As Above	Purchase	42,826.56 $		ORDINARY FULLY PAID	2,954	2,954
11/04/2019	As Above	Purchase	394,079.80 $		ORDINARY FULLY PAID	27,182	27,182
11/04/2019	As Above	Purchase	333.44 $		ORDINARY FULLY PAID	23	23
12/04/2019	As Above	Purchase	110,142.00 $		ORDINARY FULLY PAID	7,602	7,602
12/04/2019	As Above	Purchase	89,655.18 $		ORDINARY FULLY PAID	6,188	6,188
12/04/2019	As Above	Purchase	71,080.85 $		ORDINARY FULLY PAID	4,906	4,906

12/04/2019	As Above	Purchase	448,449.76 $		ORDINARY FULLY PAID	30,952	30,952
12/04/2019	As Above	Purchase	38,061.43 $		ORDINARY FULLY PAID	2,627	2,627
12/04/2019	As Above	Purchase	36,800.93 $		ORDINARY FULLY PAID	2,540	2,540
12/04/2019	As Above	Purchase	289.77 $		ORDINARY FULLY PAID	20	20
29/04/2019	As Above	Purchase	164,612.23 $		ORDINARY FULLY PAID	11,061	11,061
30/04/2019	As Above	Purchase	1,348,991.53 $		ORDINARY FULLY PAID	89,771	89,771
30/04/2019	As Above	Purchase	556,496.01 $		ORDINARY FULLY PAID	37,033	37,033
30/04/2019	As Above	Purchase	184,922.64 $		ORDINARY FULLY PAID	12,306	12,306
30/04/2019	As Above	Purchase	1,502.70 $		ORDINARY FULLY PAID	100	100
1/05/2019	As Above	Purchase	115,612.82 $		ORDINARY FULLY PAID	7,693	7,693
1/05/2019	As Above	Purchase	108,876.52 $		ORDINARY FULLY PAID	7,248	7,248
1/05/2019	As Above	Purchase	886.28 $		ORDINARY FULLY PAID	59	59
1/05/2019	As Above	Purchase	858,507.41 $		ORDINARY FULLY PAID	57,126	57,126
1/05/2019	As Above	Purchase	77,771.53 $		ORDINARY FULLY PAID	5,175	5,175
1/05/2019	As Above	Purchase	567,454.07 $		ORDINARY FULLY PAID	37,759	37,759
1/05/2019	As Above	Purchase	56,165.74 $		ORDINARY FULLY PAID	3,739	3,739
1/05/2019	As Above	Purchase	409,698.97 $		ORDINARY FULLY PAID	27,274	27,274
1/05/2019	As Above	Purchase	35,886.59 $		ORDINARY FULLY PAID	2,389	2,389
1/05/2019	As Above	Purchase	350,715.74 $		ORDINARY FULLY PAID	23,337	23,337

1/05/2019	As Above	Purchase	302,504.87 $		ORDINARY FULLY PAID	20,138	20,138
1/05/2019	As Above	Purchase	2,660.02 $		ORDINARY FULLY PAID	177	177

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

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Calvin Kwok Company Secretary Date: 03/05/2019

HUB24 LTD

Annexure C

HUB24 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
Pinnacle Investment Management Group Limited (and its subsidiaries listed in Annexure A)	NAB Custodial Services	NAB Custodial Services	256,132	Ordinary fully paid	256,132
Pinnacle Investment Management Group Limited (and its subsidiaries listed in Annexure A)	JP Morgan Chase Bank	JP Morgan Chase Bank	555,924	Ordinary fully paid	555,924
Pinnacle Investment Management Group Limited (and its subsidiaries listed in Annexure A)	Citibank	Citibank	258,245	Ordinary fully paid	258,245
Pinnacle Investment Management Group Limited (and its subsidiaries listed in Annexure A)	RBC Investor Services Trust	RBC Investor Services Trust	3,376,382	Ordinary fully paid	3,376,382
Pinnacle Investment Management Group Limited (and its subsidiaries listed in Annexure A)	State Street	State Street	2,001,987	Ordinary fully paid	2,001,987

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

`

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Calvin Kwok Company Secretary Date: 03/05/2019

HUB24 LTD

HUB24 LTD	HUB24 LTD	HUB24 LTD
Annexure D
Name	ACN	Nature of Association
Pinnacle Investment Management Group Limited	100 325 184	Related body corporate of each other entity listed in Annexure D.
Pinnacle Investment Management Limited	109 659 109	Related body corporate of each other entity listed in Annexure D.
Pinnacle Fund Services Limited	082 494 362	Related body corporate of each other entity listed in Annexure D.
Ariano Pty Limited	605 250 799	Related body corporate of each other entity listed in Annexure D.
Next Financial Limited	081 722 894	Related body corporate of each other entity listed in Annexure D.
Next Financial Nominees Pty Ltd	093 252 576	Related body corporate of each other entity listed in Annexure D.
Next Financial Nominees No. 2 Pty Ltd	132 819 115	Related body corporate of each other entity listed in Annexure D.
Investment Solutions Client Services Pty Ltd	117 898 334	Related body corporate of each other entity listed in Annexure D.
Priority Funds Management Pty Ltd	120 826 575	Related body corporate of each other entity listed in Annexure D.
Priority Investment Management Pty Ltd	116 943 456	Related body corporate of each other entity listed in Annexure D.
PNI Option Plan Managers Pty Ltd	116 943 456	Related body corporate of each other entity listed in Annexure D.
Pinnacle RE Services Limited	130 508 379	Related body corporate of each other entity listed in Annexure D.
Pinnacle Services Administration Pty Ltd	126 175 148	Related body corporate of each other entity listed in Annexure D.
Pinnacle Investment Management (UK) Limited	Company Number 11026111	Related body corporate of each other entity listed in Annexure D.
POSH Nominees Pty Limited	620 094 251	Related body corporate of each other entity listed in Annexure D.

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

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Calvin Kwok Company Secretary Date: 03/05/2019

HUB24 LTD Annexure E

HUB24 LTD Annexure E
Name	Address
Pinnacle Investment Management GroupLimited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Fund Services Limited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Investment Management Limited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Investment Management GroupLimited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Investment Management Limited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Fund Services Limited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Ariano PtyLimited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Next Financial Limited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Next Financial Nominees PtyLtd	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Next Financial Nominees No. 2 PtyLtd	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Investment Solutions Client Services PtyLtd	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
PriorityFunds Management PtyLtd	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
PriorityInvestment Management PtyLtd	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
PNI Option Plan Managers PtyLtd	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Investment Management(UK)Limited	7th Floor, Dashwood House, 69 Old Broad Street, London EC2M 1QS, United Kingdom
Pinnacle RE Services Limited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Services Administration PtyLtd	Level 19, 307 Queen St, Brisbane QLD 4000, Australia
POSH Nominees PtyLimited	Level 19, 307 Queen St, Brisbane QLD 4000, Australia

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

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Calvin Kwok Company Secretary Date: 03/05/2019