LGI LIMITED — Major Shareholding Notification 2022

Oct 5, 2022

603 Page 1 of 2 15 July 2001

Form 603

Corporations Act 2001

Section 671B

Notice of initial substantial holder

To Company Name/Scheme

ACN/ARSN

LGI Limited

138 085 551

1. Details of substantial holder (1)

Name Robert McGavin

ACN/ARSN (if applicable)

N/A

The holder became a substantial holder on 06 October 2022

2. Details of 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 on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
Fully Paid Ordinary Shares(Shares)	10,207,279	10,207,279	11.56%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interestRobert McGavinRobert McGavin	Nature of relevant interest (7)	Class and number of securities
	Direct – Registered Holder	16,359 Shares
	Relevant interest under section 608(2) ofthe Corporations Act as controller of PicarraHoldings Pty Ltd <Picarra Land A/c> andRD & KA McGavin Pty Ltd <RD & KAMcGavin S/F A/c>	10,190,920 Shares

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered asholder (8)	Class and number ofsecurities
Robert McGavin	Picarra Holdings Pty Ltd<Picarra Land A/c>	Picarra Holdings Pty Ltd<Picarra Land A/c>	10,048,064 Shares
Robert McGavin	Robert Douglas HarryMcGavin	Robert Douglas Harry McGavin	16,359 Shares
Robert McGavin	RD & KA McGavin Pty Ltd<RD & KA McGavin S/F A/c>	RD & KA McGavin Pty Ltd <RD& KA McGavin S/F A/c>	142,856 Shares

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration (9)	Consideration (9)	Class and number ofsecurities
		Cash	Non-cash
Picarra Holdings Pty Ltd	20 Oct 2021	N/A	N/A	10,048,064 Shares

603 Page 2 of 2 15 July 2001

<Picarra Land A/c>
Robert Douglas Harry McGavin	08 May 2022	N/A	N/A	16,359 shares
RD & KA McGavin Pty Ltd<RD & KA McGavin S/F A/c>	08 May 2022	N/A	N/A	142,856 shares

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
Picarra Holdings Pty Ltd <PicarraLand A/c>	The entity is indirectly controlled by Robert McGavin
RD & KA McGavin Pty Ltd <RD &KA McGavin S/F A/c>	The entity is indirectly controlled by Robert McGavin

7. Addresses

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

Name	Address
Picarra Holdings Pty Ltd ACN117 568 724	C/- Pitcher Partners, Level 19, 15 William Street, Melbourne VIC 3000
Robert Douglas Harry McGavin	5 Kurweeton Road, Derrinallum VIC 3325
RD & KA McGavin Pty Ltd <RD& KA McGavin S/F A/c>	PO BOX 290, Renmark SA 5341

Signature

print name

Capacity

sign here

date

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 7 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 total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.

• (6) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (7) Include details of:

  • (a) any relevant agreement or other circumstances by which the relevant interest was acquired. 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.

(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

603 Page 3 of 2 15 July 2001

"unknown".

• (9) 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.