L1 GROUP LIMITED — Major Shareholding Notification 2015

Apr 22, 2015

FACSIMILE COVER PAGE

To,	Company Announcements	From:	Philip Howard
Fax:	1300 135 638	Fax#.	+61 2 9254 5590
Company:	ASX	Tel#:	+61 2 9255 7576

Subject:	Substantial Shareholding Disclosure
Sent:	23 April 2015	Pages:	6 (including cover)
Email:	compliance@platinum.com.au	Website:	www.platinum.com.au

Please find attached the reporting form required under Corporations Act 2001 Section 671B.

I would be grateful if you could confirm receipt to my email address: compliance@platinum.com.au

Kind regards

Philip Howard Finance Director Platinum Investment Management Limited Level 8, 7 Macquarie Place, Sydney, NSW 2000

Platinum Investment Management Limited ABN 25 083 565 008 AFSL 221935 trading as Platinum Asset Management ("Platinum")

This facsimile is intended solely for the named addressee(s) and may contain confidential or privileged information. If you are not the intended addressee(s), any use, disclosure or copying of the information contained in this facsimile is unauthorised and prohibited. Please notify the sender immediately and destroy this copy.

Any personal information in this facsimile must be handled in accordance with the Privacy Act 1988 (Cth).

Platinum is a member of the Platinum Group of companies.

23 April 2015

ASX Company Announcements 20 Bridge St SYDNEY NSW 2000

By facsimile: 1300 135 638

Dear Sir/Madam

Platinum Asset Management Limited (PTM) - Substantial Shareholding Disclosure

On 25 May 2007, we reported a substantial shareholding in PTM shares by the Company's CEO of 57.59% (representing a holding of 323,074,841 shares). On 25 May 2007, the CEO sold a further 1,000,000 shares that did not trigger a substantial shareholder reporting obligation. The required Appendix 3Y (Change of Director's Interest Notice) was lodged with the ASX.

We recently became aware that the CEO's percentage holding (representing 322,074,841 shares) has been diluted as a result of the exercise of PTM options by employees of the Company. The movement inadvertently failed to be communicated to the ASX.

We understand that any movement in substantial shareholdings of at least 1% needs to be reported (including passive movements that have resulted from the exercise of Company options).

The CEO's holdings (322,074,841 shares) were correctly reported in the PTM Annual Report as at 30 June 2014. The holdings crossed the 1% threshold for reporting on 15 May 2013 and again on 27 February 2014.

Please find completed Forms 604 representing these two missed reports.

Please accept our apologies for this extended delay.

Should you require any further information, please do not hesitate to contact me.

Yours faithfully

en Howard

Philip Howard Finance Director

Level 8, 7 Macquarie Place, Sydney NSW 2000, Australia | GPO Box 2724, Sydney NSW 2001 Tel 61 2 9255 7500 | Investor Services 1300 726 700 | Facsimile 61 2 9254 555 | Email Invest@platinum.com.au | Website www.platinum.com.au Platinum Investment Management Limited ABN 25 063 565 006 AFSL 221935 trading as Platinum Asset Management⁴⁰

1. Apr. 2015 15:31

Platinum Asset Mgt 61 2 92545555

No. 1619 Р. $\mathfrak{Z}$

604 page 1/2 15 July 2001

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	PLATINUM ASSET MANAGEMENT LIMITED
ACN/ARSN	ACN 050 064 287 $-$

1. Details of substantial holder(1)

Name		JUDITH PATRICIA LYDIA NEILSON
ACN/ARSN (if applicable)	N/A
There was a change in the interests of the
substantial holder on		15/05/13
The previous notice was given to the company on		25/05/07
The previous notice was dated		クラハミハワ

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) $\left| \frac{1}{2} \right|$ in when last require

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votesi	Voting nower (5)
ORDINARY	323,074,841	57.59%	322,074,841	56.57%
	—

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

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
25/05/2007	KERR NEILSON JUDITH NEILSON	SALE	\$7,995.527.40	ORDINARY 1,000,000	1,000,000
115/05/2013	KERR NEILSON JUDITH NEILSON	INCREASE IN NUMBER OF SHARES ON ISSUE	Nil	ORDINARY 322,074,841	322,074,841

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of	Registered	Person entitied	Nature of	Class and	Person's votes
relevant	holder of	to be registered	relevant	number of
Interest	securities	as holder (8)	interest (6)	securities
THE R. P. LEWIS	JUDITH PATRICIA LYOIA	JUDITH PATRICIA LYDIA	TAKEN UNDER SECTION	ORDINARY	322,074,841
KERR NEILSON	NEILSON	NEILEON	608(1)(B)	322,074,041

page 2/2 15 July 2001 604

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 (it applicable)	$1 - 10000$ 448.88 ---- Nature of association --------- . -----	CARDINAL COMPANY
---	____ ALCOHOL: 1979

6. Addresses

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

Name .	Address ----
---- J NETLSON	29 MIDDLE ST MCMAHONS POINT NSW 2060
$-4170 - 11$ K NEILSON	29 MIDDLE ST MCMAHONS POINT NSW 2060

Signature

print name	PHILIP HOWARD	capacity			FINANCE DIRECTOR
sign here	1 pulys [Hentist]	date 23 / 04			2015
Property	. --

DIRECTIONS

• 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 $(3)$ equity trust), the names could be included in an annoxure 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.
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(7)$
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $\begin{pmatrix} 1 \ 2 \end{pmatrix}$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$
• Include details of: $(6)$
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any $(a)$ document setting out the terms of any relevant agreement, and a statement by the porson 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
• 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 $(h)$ 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.

• 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, becomic $\sigma$ 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 entitled to receive in relation to that acquisition 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.
• If the substantial holder is unable to dotormine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown". $\left( 0 \right)$

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

• Apr. 2015 15:31 Platinum Asset Mgt 61 2 92545555

Р. - 5 No. 1619

604 page 1/2 15 July 2001

Form 604

Corporations Act 2001 Section 6718

Notice of change of interests of substantial holder

Io Company Name/Scheme	PLATINUM ASSET MANAGEMENT LIMITED
ACN/ARSN	ACN 050 064 287

1. Details of substantial holder(1)

Name		JUDITH PATRICIA LYDIA NEILSON
ACN/ARSN (if applicable)	$\mathrm{N}/\mathrm{A}$
There was a change in the interests of the substantial holder on		27/02/2014
The previous notice was given to the company on		23/04/2015

23/04/2015

2. Previous and present voting power

The previous notice was dated

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)	Provious notice		Present notice
	Person's votes	Voting power (5)	≖ Person's votes! Voting power (5)
ORDINARY	322,074,841	56.57%	322,074,841 55.56%

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
27/02/2014	KERR NEILSON JUDITH NEILSON	INCREASE IN NUMBER OF SHARICS (W 188UE	NIL	ORDINARY 322,074,841	322,074,841

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 (B)	Nature of relevant interest (6)	Class and number of Securities	Person's votes
KERR NEILSON	JUDITH PATRICIA LYDIA NKTLSON	JUDITH PATRICIA LYDIA NEILSON	TAKKN UNDER SECTION 608(1)(3)	ORDINARY 322,074.841	322,074,841

page 2/2 15 July 2001 604

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 a applicable)	--- Nature of association ______
	-------------------------------------- ------ ____
	$-1.44$ $\begin{array}{l} \begin{array}{c} \begin{array}{c} \begin{array}{c} \end{array} \ \end{array} \end{array} \end{array} \begin{array}{ll} \begin{array}{c} \begin{array}{c} \end{array} \ \end{array} \end{array} \begin{array}{l} \begin{array}{c} \end{array} \end{array} \begin{array}{c} \begin{array}{c} \end{array} \end{array} \end{array} \begin{array}{c} \begin{array}{c} \end{array} \end{array} \begin{array}{c} \begin{array}{c} \end{array} \end{array} \end{array} \begin{array}{c} \begin{array}{c} \end{array} \end{array} \end{array$ -------

6. Addresses

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

	ALL AREA __
Name	Address
, , , , , , , , , , , , , , , , J NEILSON	-------------------------------------- 29 MIDDLE ST MCMAHONS POINT NSW 2060 ALC: UNK Linux Street ________
K NELLSON .	29 MIDDLE ST MCMAHONS POINT NSW 2060 - 5

Signature

print name	PHILIP HOWARD	FINANCE DIRECTOR capacity
sign here	__ I NAI (Flevard	date 23 / 04 / 2015
	-------

DIRECTIONS

• 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 $(1)$ 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.
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$
• See the definition of "relevant interest" in sections 608 and 671B(1) of the Corporations Act 2001. $\left( 3\right)$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$
• Include details of: $₍₆₎$
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any $\left( n\right)$ 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
• 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 $(b)$ 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.

• 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, becomie $\sigma$ 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.
• 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", $\left(\begin{matrix} 1\ 1\end{matrix}\right)$
• Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. $\left( \Theta \right)$