L1 GROUP LIMITED — Share Issue/Capital Change 2021

Oct 14, 2021

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Announcement Summary

Entity name

PLATINUM ASSET MANAGEMENT LIMITED

Date of this announcement

Friday October 15, 2021

The +securities the subject of this notification are:

==> picture [8 x 9] intentionally omitted <==

+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	PERFORMANCE RIGHTS	8,229,367	19/07/2021
to be confirmed

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

1 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Part 1 - Entity and announcement details

1.1 Name of entity

PLATINUM ASSET MANAGEMENT LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number

13050064287

1.3 ASX issuer code

PTM

1.4 The announcement is

==> picture [8 x 8] intentionally omitted <==

New announcement

1.5 Date of this announcement

15/10/2021

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

2 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Part 2 - Issue details

==> picture [21 x 22] intentionally omitted <==

2.1 The +securities the subject of this notification are:

==> picture [8 x 8] intentionally omitted <==

+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

==> picture [8 x 8] intentionally omitted <==

does not have an existing ASX security code ("new class")

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

3 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

ASX +security code +Security description New class - code to be confirmed PERFORMANCE RIGHTS

+Security type ISIN code Other Date the +securities the subject of this notification were issued 19/7/2021

Will all the +securities issued in this class rank equally in all respects from their issue date? No

If some of the issued +securities do not rank equally:

Is the actual date from which the +securities will rank equally (non-ranking end date) known? No

Provide the estimated non-ranking end period

19 July 2029 - eligible employees may exercise their vested deferred rights from the eight year anniversary of the grant date.

Please state the extent to which the +securities do not rank equally: In relation to the next dividend, distribution or interest payment; or For any other reason

Each deferred right constitutes a conditional right to receive up to two PTM ordinary shares, subject to the vesting and exercise conditions being met.

Were any of the +securities issued to +key management personnel (KMP) or an +associate? No

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. - https://www.platinum.com.au/PlatinumSite/media/Financial Statements/ptm_0621.pdf

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms - https://www.platinum.com.au/PlatinumSite/media/Financial Statements/ptm_0621.pdf

Any other information the entity wishes to provide about the +securities the subject of this notification

The deferred rights carry an entitlement to an alternative dividend equivalent payment. This entitlement arises if a tranche of an award meets its vesting condition for a performance period and continues until the corresponding deferred rights are exercised ("Holding Period"). During the Holding Period an eligible employee will receive an amount approximately equal to the amount of dividends that would have been paid to the employee had they held the relevant resultant number of PTM ordinary shares from the date the vesting condition was met.

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

4 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Issue details

Number of +securities

8,229,367

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

5 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
PTM : ORDINARY FULLY PAID	586,678,900
4.2 Unquoted +Securities (Total number of each +class of +securities issued but	not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
PTMAA : RIGHTS	6,973,139
New class - code to be confirmed : PERFORMANCE RIGHTS	8,229,367

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

6 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

8,229,367

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? N/A

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

7 / 7