IPD GROUP LTD — Major Shareholding Notification 2022

Feb 27, 2022

Pendal Group Limited

Level 14, The Chifley Tower

2 Chifley Square Sydney NSW 2000 Australia ABN 28 126 385 822

Company Announcements Platform Australian Securities Exchange Limited 20 Bridge Street SYDNEY NSW 2000

28 February 2022

Dear Sir/Madam

Re: Notice of Change of Interests of Substantial Holder

In accordance with section 671B of the Corporations Act 2001 (Cth), we attach a Notice of Change of Interests of Substantial Holder (Form 604) in respect of IPD Group Ltd (IPG).

Yours faithfully

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Joanne Hawkins Group Company Secretary

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Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

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To Company Name/Scheme IPD Group Ltd
ACN/ARSN ACN 111 178 351
1. Details of substantial holder(1)
Name Pendal Group Limited
ACN/ARSN (if applicable) ACN 126 385 822
There was a change in the interests of the
substantial holder on 24/02/2022
The previous notice was given to the company on 20/12/2021
The previous notice was dated 17/12/2021
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 in 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 shares 4,708,334 5.457% 5,803,983 6.726%
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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:

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
24/02/2022	PDL & its Associates, Pendal Fund Services Limited, Pendal Institutional Limited	See Annexure 'A'	See Annexure 'A'	See Annexure 'A'	See Annexure 'A'

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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 securities	Person entitled to be registered as holder(8)	Nature of relevant interest (6)	Class and Number of securities	Person’s votes
Pendal Fund Services Limited *	HSBC Custody Nominees (Australia) Limited.	HSBC Custody Nominees (Australia) Limited.	Pendal Fund Services Limited is the trustee or responsible entity of various managed investment schemes and, in that capacity, can exercise the power to vote or dispose of the shares.	5,803,983 Ordinary	5,803,983
Pendal Institutional Limited	-------	-------	Pendal Institutional Limited is the investment manager appointed by various superannuation funds, institutional investors and unit trusts and, in that capacity, can exercise the power to vote or dispose of the shares.	-------	-------

• Pendal Fund Services Limited has appointed Pendal Institutional Limited to act as the investment manager of the trusts of which it is responsible entity, giving Pendal Institutional Limited the capacity to exercise the power to vote or dispose of the shares. Pendal Institutional Limited therefore also has a relevant interest in shares in which Pendal Fund Services Limited has a relevant interest.

5. Changes in association

The persons who have become associates (2) of, or 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
6. Addresses The addresses ofpersons named in this form are	as follows:
Name		Address
Pendal Group Limited (PDL)		Level 14, Chifley Tower, 2 Chifley Square, Sydney NSW 2000
Pendal Fund Services Limited		Level 14, Chifley Tower, 2 Chifley Square, Sydney NSW 2000
Pendal Institutional Limited		Level 14, Chifley Tower, 2 Chifley Square SYDNEY NSW 2000
IPD GROUP LTD		The Company Secretary, 43 Newton Road, Wetherill Park, NSW 2164 Australia
Signature Print name Sign here	Joanne Hawkins CapacityCompanySecretary
	Date 28/02/2022

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DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (e.g. 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 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 (e.g. if the relevant interest arises because of an option) write “unknown”.

• (9) Give details, if appropriate, of the present association and any changes in that association since the last substantial holding notice.

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ANNEXURE A

This is annexure ‘A’ referred to in Form 604, Notice of change of interests of substantial holder, lodged for Pendal Group Limited ACN 126 385 822 Joanne Hawkins – Company Secretary, Pendal Group Limited – 28/02/2022

TRANSACTION HISTORY

Sales & Purchases for the period: 20/12/2021 to 24/02/2022

SECURITY: IPG

Pendal Fund Services Limited

Date 20/12/2021 21/12/2021 23/12/2021 30/12/2021 31/12/2021 5/01/2022 6/01/2022 7/01/2022 10/01/2022 11/01/2022 12/01/2022 17/01/2022 25/01/2022 27/01/2022 24/02/2022

Registered Company Nature of Change Quantity Consideration Class of Securities Person’s votes affected HSBC Custody Nominees (Australia) Limited. Buy 41,088 42,924.63 Ordinary 41,088 HSBC Custody Nominees (Australia) Limited. Buy 83,912 88,149.56 Ordinary 83,912 HSBC Custody Nominees (Australia) Limited. Buy 76,546 83,335.63 Ordinary 76,546 HSBC Custody Nominees (Australia) Limited. Buy 28,945 31,836.61 Ordinary 28,945 HSBC Custody Nominees (Australia) Limited. Buy 2,177 2,394.70 Ordinary 2,177 HSBC Custody Nominees (Australia) Limited. Buy 4,441 4,929.51 Ordinary 4,441 HSBC Custody Nominees (Australia) Limited. Buy 36,546 40,555.10 Ordinary 36,546 HSBC Custody Nominees (Australia) Limited. Buy 141,198 156,701.54 Ordinary 141,198 HSBC Custody Nominees (Australia) Limited. Buy 219,706 244,378.98 Ordinary 219,706 HSBC Custody Nominees (Australia) Limited. Buy 26,067 29,922.31 Ordinary 26,067 HSBC Custody Nominees (Australia) Limited. Buy 21,933 26,054.21 Ordinary 21,933 HSBC Custody Nominees (Australia) Limited. Buy 75,764 93,886.75 Ordinary 75,764 HSBC Custody Nominees (Australia) Limited. Buy 4,376 5,163.68 Ordinary 4,376 HSBC Custody Nominees (Australia) Limited. Buy 11,045 13,033.10 Ordinary 11,045 HSBC Custody Nominees (Australia) Limited. Buy 321,905 444,228.90 Ordinary 321,905 Total 1,095,649 1,307,495.21 Pendal Fund Services Limited 1,095,649 1,307,495.21

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