MURRAY COD AUSTRALIA LIMITED — Major Shareholding Notification 2021

Nov 18, 2021

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Com pany Nam e/Schem e Murray Cod Australia Ltd

ACN/ARSN 143 928 625

1. Details of substantial holder (1)

Nam e Mathew Ryan

ACN/ARSN (if applicable)

There was a change in the interests of the substantial holder on 16/11/2021 The previous notice was given to the company on 20/01/2017 The previous notice was dated 20/01/2017

2. Previous and present voting pow er

The total num ber of votes attached to all the voting shares in the com pany or voting interests in the schem e 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 com pany or schem e, are as follows:

om pany or schem e, are as follows:
Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power(5)	Person's votes	Voting power(5)
Fully paid ordinaryshares	68,928,572	19.87%	73,608,761	11.00%

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 com pany or schem e, since the substantial holder was last required to give a substantial holding notice to the com pany or schem e 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
31/05/2018	Mrs Bonnie Louise Ryan	On m arket purchase	$2,234	37,332 FPO	37,332
07/03/2019	M & B Ryan Pty Ltd	Acquisition consideration shares	Nil	19,642,857 FPO	19,642,857
16/11/2021	M & B Ryan Pty Ltd	Off m arket sale	$5,025,000	(15,000,000) FPO	(15,000,000)

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
M & B Ryan Pty Ltd	M & B Ryan Pty Ltd	M & B Ryan Pty Ltd	Mr Ryan is a director and shareholder	73,571,429 FPO	73,571,429
Mrs Bonnie Louise Ryan	Mrs Bonnie Louise Ryan	Mrs Bonnie Louise Ryan	Spouse of Mr Ryan	37,332 FPO	37,332

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 schem e are as follows:

Nam e and ACN/ARSN (if a pp licable ) Nature of association

6. Addresses

The addresses of persons nam ed in this form are as follows:

Nam e	Address
Mathew Ryan	15 Gardiner Road, Yogali, NSW 2680

Signature

print nam e Mathew Ryan Capacity sign here Date 19 / 11 / 2021

DIRECTIONS

If there are a num ber of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the m anager and trustee of an equity trust), the nam es could be included in an annexure to the form.

• (1) If the relevant interests of a group of persons are essentially sim ilar, they m ay be referred to throughout the form as a specifically nam ed group if the m em bership of each group, with the nam es and addresses of m em bers 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 or schem e m ultiplied by 100.

• (6) Include details of:

• any relevant agreem ent or other circum stances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any docum ent setting out the term s of any relevant agreem ent, and a

• (a) statem ent by the person giving full and accurate details of any contract, schem e or arrangem ent, m ust accom pany this form, together with a written statem ent certifying this contract, schem e or arrangem ent; and

any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the

• (b) 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 agreem ent" 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, becom e entitled to receive in relation to that acquisition. Details m ust be included

• (7) even if the benefit is conditional on the happening or not of a contingency. Details m ust 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 determ ine the identity of the person (eg. if the relevant interest arises because of

• (8) an option) write "unknown".

• Give details, if appropriate, of the present association and any change in that association since the last substantial

• (9) holding notice.