INSIGNIA FINANCIAL LTD — Major Shareholding Notification 2018

Apr 2, 2018

Form 603 Corporations Act 2001 Section 671B Notice of initial substantial holder

To : Otto Energy Limited ACN: 101 585 737 ASX Code: OEL

1. Details of substantial holder

Name: IOOF Holdings Limited ACN: 107 555 046

This notice is given by IOOF Holdings Limited on behalf of itself and its subsidiaries.

The holder became a substantial shareholder on: 28/03/2018

2. Previous and present voting power

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 is as follows:

Class of securities	Number of securities	Person’s votes	Voting Power
Ordinary	84,393,436	84,393,436	5.513%

3. Details of present registered holders

The persons registered as holders of the securities are as follows:

Registered holder of securities	Person Entitled to be holder	Nature of relevant interest	Class & Number (Ord)	Person's votes
NAB AssetServicing		Investment Manager	54,469,313	54,469,313

2

Perennial Value Management Limited (ACN 090 879 904)	BNP		Investment Manager	29,924,123	29,924,123

4. Consideration

The consideration paid for each relevant interest and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Date 19/12/2017	Person	Nature	Consideration	Class & number (ord)	Person's votes - 1,907,339
	Perennial Value Management Limited (ACN 090 879 904)	Sold on market	-$76,506.34	- 1,907,339
20/12/2017	Perennial Value Management Limited (ACN 090 879 904)	Sold on market	-$110,978.15	- 2,719,385	- 2,719,385
7/03/2018	Perennial Value Management Limited (ACN 090 879 904)	Purchased on market	$149,639.39	2,509,427	2,509,427
8/03/2018	Perennial Value Management Limited (ACN 090 879 904)	Purchased on market	$22,850.16	380,000	380,000
9/03/2018	Perennial Value Management Limited (ACN 090 879 904)	Purchased on market	$38,154.91	614,051	614,051
27/03/2018	Perennial Value Management Limited (ACN 090 879 904)	Purchased on market	$4,008,800.05	72,727,273	72,727,273
28/03/2018	Perennial Value Management Limited (ACN 090 879 904)	Purchased on market	$477,313.37	8,162,685	8,162,685

5. Associates

Name & ACN	Nature of association
Not applicable

6. Addresses

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

Name	Address
IOOF Holdings Limited	Level 6, 161 Collins Street Melbourne Victoria 3000
Otto Energy Limited	32 Delhi Street, West Perth WA 6005
Perennial Value Management Limited	Level 27, 88 Phillip Street SydneyNSW 2000