MORPHIC ETHICAL EQUITIES FUND LIMITED — Major Shareholding Notification 2025

Jan 13, 2025

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Ellerston Capital Limited ABN 34 110 397 674 AFSL No. 283 000

Level 11, 179 Elizabeth Street Sydney NSW 2000 Phone +612 9021 7797 Fax +612 9261 0528 www.ellerstoncapital.com

TO: The Manager, Company Announcements, ASX

FAX No:

FROM: Ellerston Capital Limited

DATE: 14/01/2025

NO. OF PAGES (Including this page)

5

Dear Manager

RE:

MORPHIC ETHICAL EQUITY FUND LIMITED - Form 603

We attach our notice of becoming a substantial holder (Form 603) in respect of MORPHIC ETHICAL EQUITY FUND LIMITED.

We note that the shares reported in this Form are owned by third party accounts under the discretionary investment management of Ellerston Capital Limited.

None of Ellerston Capital Limited, nor any of its shareholders or any of their associates hold a direct interest in any shares disclosed in this Form.

Yours sincerely,

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Ian Kelly Company Secretary Ellerston Capital Limited

Form 603 Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme

MORPHIC ETHICAL EQUITY FUND LIMITED

ACN/ARSN/ARBN

ACN 617 345 123

1. Details of substantial holder (1)

Name Ellerston Capital Limited (Primary Person), and its associates being those persons listed in Annexure B ACN/ARSN (if applicable) ACN 110 397 674

The holder became a substantial holder on

14/01/2025

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)
Securities	1,826,268	1,826,268	5.08%

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 interest	Nature of relevant interest (7)	Class and number of securities
Primary Person	The Primary Person in its capacity as investment manager for various clients or as trustee/responsible entity for investment vehicles, has the power to exercise, or control the exercise of, a right to vote attached to the securities and has the power to dispose of, or control the exercise a disposal of, the securities	1,826,268 Securities

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	Registered holder of Securities	Person entitled to be registered as holder(8)	Person entitled to be registered as holder(8)	of securities Class and number
Primary Person	HSBC Custody Nominees (Australia) Limited		HSBC Custody Nominees (Australia) Limited		47,100,710 Securities
Primary Person	National Nominees Limited		National Nominees Limited		6,785,167 Securities
See Annexure A

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
Refer to Annexure B

7. Addresses

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

Name	Address
See annexures	The Substantial Shareholder – c/- Level 11, 179 Elizabeth Street, Sydney, NSW, 2000
	The entities listed in Annexure A – c/- Level 11, 179 Elizabeth Street, Sydney, NSW, 2000
MORPHIC ETHICAL EQUITY FUND LIMITED	Level 11, 179 Elizabeth St, SYDNEY, NSW, AUSTRALIA, 2000

Signature

print name	Ian Kelly	capacity	Company Secretary
sign here		date	14/01/2025

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 equity trust), the (1) 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:

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 (a) 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 which the (b) 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 “unknown.’”

Details of the consideration must include any and all benefits, moneys and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in (9) 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.

MORPHIC ETHICAL EQUITY FUND LIMITED ACN 617 345 123

This is Annexure A of 1 pages referred to in Form Form 603 Notice of initial substantial holder.

Signature

print name sign here

	Ian Kelly capacity Company Secretary	Ian Kelly capacity Company Secretary	Ian Kelly capacity Company Secretary	Ian Kelly capacity Company Secretary
	date 14/01/2025
	Date of Change	Person whose relevant interest changed	Consideration give in relation to change (5)	Class (6) and number of securities affected
	13/01/2025	PrimaryPerson	$103,750.00	100,000 Securities
	10/01/2025	PrimaryPerson	$89,303.53	85,630 Securities
	9/01/2025	PrimaryPerson	$22,637.03	21,463 Securities
	8/01/2025	PrimaryPerson	$4,208.88	4,047 Securities

MORPHIC ETHICAL EQUITY FUND LIMITED ACN 617 345 123

This is Annexure B of 3 pages referred to in Form Form 603 Notice of initial substantial holder.

Signature

print name sign here	Ian Kelly capacity Company Secretary
	date 14/01/2025

sign here

The following entities represent the Passive Substantial Holders. Each is a related body corporate of the Principal Person or a person that controls a related body corporate of the Principal Person and so an associate of the Primary Person under section 12(2)(a) of the Corporations Act, and therefore a substantial holder in the Company.

PARTY/ENTITY NAME	AUSTRALIAN COMPANY
Bareage PtyLtd	060 526 865
Cairnton Holdings Limited	008 394 134
Cairnton PtyLtd	001 735 075
Castwo Pty Ltd	084 494 520
Cavalane Holdings PtyLtd	080 695 754
Chermon PtyLtd	123 039 305
Conpress Holdings PtyLtd	088 047 974
Conpress Securities PtyLimited	160 602 853
Consolidated Custodians PtyLtd	008 394 492
Consolidated GamingPtyLtd	071 513 409
Consolidated Press(Finance)PtyLtd	001 557 035
Consolidated Press(Finance)II PtyLtd	603 295 834
Consolidated Press(Finance)III PtyLtd	604 881 030
Consolidated Press Financial Services PtyLtd	008 457 869
Consolidated Press Holdings PtyLimited	008 394 509
Consolidated Press Investments PtyLtd	000 089 118
Consolidated Press PropertyPtyLtd	004 160 703
CPH Capital PtyLtd	096 130 899
CPH Crown Holdings PtyLimited	603 296 804
CPH Direct Investments PtyLtd	122 328 652
CPH GamingI PtyLimited	603 295 674
CPH GamingII PtyLimited	603 295 923
CPH GamingIII PtyLimited	603 296 162
CPH GamingIVA PtyLimited	603 296 537
CPH GamingIVB PtyLimited	603 296 546
CPH(Ellerston Leisure)Holdings PtyLimited	608 726 334
CPH S.One Holdings PtyLimited	603 297 927
CPH S.One I PtyLimited	603 297 310
CPH Zhaopin Holdings PtyLimited	603 298 719
CPH Zhaopin Holdings I PtyLimited	603 298 344
CPH Zillow Holdings PtyLimited	603 300 090
CPH Zillow Holdings I PtyLimited	603 299 074
ECS Investment Partners PtyLtd	166 264 375
EC Ventures GP PtyLimited	606 074 864
Ellerston Capital Limited	110 397 674
Ellerston Opportunities PtyLtd	150 851 666
Hoyts Cinemas Operations PtyLtd	006 530 347
Jaslib PtyLtd	065 059 458
Jasopt PtyLtd	065 064 164
Manoc Developments PtyLtd	137 556 524
Milnar PtyLtd	054 169 685

PARTY/ENTITY NAME	AUSTRALIAN COMPANY
Northkom PtyLtd	082 885 961
Northkom I PtyLimited	604 022 899
Ridgegate ProprietaryLimited	058 139 923
S.One HoldingCompanyPtyLimited	601 640 215
Samenic PtyLimited	066 234 900
Savabow PtyLtd	084 712 774
ScrumPac PtyLtd	602 375 253
Silthree PtyLtd	084 494 575
Siltwo PtyLtd	084 494 495
Tastee Shears Holdings PtyLimited	627 444 464
Toranaga PtyLtd	056 229 728
TorayPtyLtd	002 348 503
Wilbur Holdings Aus Pty. Limited	633 535 565
Wilbur One Aus Pty. Limited	633 536 179