NICK SCALI LIMITED — Major Shareholding Notification 2021

Aug 18, 2021

Form 603 Corporations Act 2001 Section 671B Notice of initial substantial holder

To Company Name/Scheme	Nick Scali Ltd
ACN/ARSN	000 403 896
1. Details of substantial holder (1)Name	First Sentier Investors Holdings Pty Limited ACN 630 725 558 and its related bodies corporate listed in annexure A
ACN/ARSN (if applicable)	630 725 558
The holder became a substantial holder on	17/08/2021

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:

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----- Start of picture text ----- Class of securities (4) Number of securities Person's votes (5) Voting power (6)Fully Paid ordinary shares 4,096,867 4,096,867 5.06%----- End of picture text -----

*Note these securities are comprised of 3,109,381 shares in which First Sentier Investors Holdings Pty Limited and its subsidiaries have voting power and 987,486 securities in which First Sentier Investors Holdings Pty Limited's ultimate parent, Mitsubishi UFJ Financial Group, Inc. on and from 17 August 2021, has informed it that it has voting power prior to the date of this notice.

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	Class and number of securities
	Relevant interest under paragraph 608(1)(b) and/or 608(1)(c) of the
	Corporations Act 2001 (Cth), being a relevant interest arising from having
	the power to control the exercise of the right to vote attached to securities
	and/or to control the exercise of the power to dispose of securities in its
First Sentier Investors Realindex Pty LtdACN 133 312 017	capacity as investment manager, as provided for under its investmentmandates. In addition, if any OTC derivatives, warrants or other securities		1,089,715	Fully Paid ordinary	shares
	(other than ordinary shares or ordinary units (as applicable)) are referred to
	below in this row, the relevant interest in respect of those	securities arises
	under subsection 608(8) being an accelerated relevant interest held in the
	same capacity.
	Relevant interest under paragraph 608(1)(b) and/or 608(1)(c) of the
	Corporations Act 2001 (Cth), being a relevant interest arising from having
	the power to control the exercise of the right to vote attached to securities
	and/or to control the exercise of the power to dispose of securities in its
First Sentier Investors (Australia) IM LtdACN 114 194 311	capacity as investment manager, as provided for under its investmentmandates. In addition, if any OTC derivatives, warrants or other securities		2,019,666	Fully Paid ordinary	shares
	(other than ordinary shares or ordinary units (as applicable)) are referred to
	below in this row, the relevant interest in respect of those	securities arises
	under subsection 608(8) being an accelerated relevant interest held in the
	same capacity.
	Mitsubishi UFJ Financial Group Inc. (MUFG) owns 100%	of First Sentier
	Investors Holdings Pty Limited (indirectly) and has informed First Sentier
	Investors Holdings Pty Limited that it has a relevant interest in the shares
	noted in this column. Accordingly, First Sentier Investors Holdings Pty
Mitsubishi UFJ Financial Group	Limited has a relevant interest or voting power in those shares pursuant tosection 608(3) or section 12(2)(a) of the Corporations Act (as relevant).		987,486	Fully Paid ordinary	shares
	MUFG has not provided any further details of that relevant interest -
	accordingly no transaction information is recorded in Appendix B or holder
	information is recorded in Section 4. Reference is made to any subsequent
	filing of MUFG which will reflect this interest.
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 relevantinterest	Registered holder ofsecurities	Person entitled to beregistered as holder (8)		Class and number	of securities
First Sentier Investors Realindex Pty Ltd ACN	Citibank N A Hong Kong133 312 017			493,958	Fully Paid ordinaryshares
First Sentier Investors Realindex Pty Ltd ACN	JP Morgan Chase Bank NA133 312 017			489,669	Fully Paid ordinaryshares
First Sentier Investors Realindex Pty Ltd ACN	133 312 017National Custodian Services			106,088	Fully Paid ordinaryshares
First Sentier Investors (Australia) IM Ltd ACN	114 194 311Citibank N A Hong Kong			443,300	Fully Paid ordinaryshares

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----- Start of picture text ----- First Sentier Investors (Australia) IM Ltd ACN 114 194 311 Citicorp Nominees Pty Limited 1,561,514 [Fully Paid ordinary ](Australia) sharesFirst Sentier Investors (Australia) IM Ltd ACN 114 194 311 JPMorgan (UK) 14,852 [Fully Paid ordinary ]sharesMitsubishi UFJ Financial Group Mitsubishi UFJ Financial Group 987,486 [Fully Paid ordinary ]shares----- End of picture text -----

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 relevantinterest		Date of acquisition		Consideration (9)		Class and number of securities
				Cash	Non-cash
See annexure B to this notice
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
First Sentier Investors Realindex Pty Ltd		ACN 133 312 017		A wholly-owned subsidiary, andHoldings Pty Limited	therefore related body corporate, of First Sentier Investors
First Sentier Investors (Australia) IM Ltd		ACN 114 194 311		A wholly-owned subsidiary, andHoldings Pty Limited	therefore related body corporate, of First Sentier Investors
Mitsubishi UFJ Financial Group				Each company referred to is an12 of the Corporations Act	associate of Mitsubishi	UFJ Financial Group, Inc. under section

7. Addresses

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

Name	Address
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	Level 5, Tower Three International Towers Sydney, 300 Barangaroo Avenue, Barangaroo NSW2000, Australia
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	Level 5, Tower Three International Towers Sydney, 300 Barangaroo Avenue, Barangaroo NSW2000, Australia
Mitsubishi UFJ Financial Group	2-7-1, Marunouchi, Chiyoda-ku, Tokyo 100-8330, Japan

Signature

print namecapacityPauline O'ConnorCompany Secretary
sign heredate19/08/2021

Annexure A

17/08/2021

This is Annexure A referred to in Form 603, Notice of initial substantial holder dated

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Pauline O'Connor	Company Secretary	Dated the 19/08/2021
	SCHEDULE
	First Sentier Investors (Malta) Limited (Company Code C41267)
	First Sentier Investors (Malta) Holdings Limited (Company Code C41260)
	CFSIM (Company No. 00153197)
	First Sentier Investors (Luxembourg) EDIF II GP S.Á.R.L (Company No. B204413)
	First Sentier Investors (Australia) Services Pty Limited (ACN 624 305 595)
	First Sentier Investors (Australia) IM Ltd (ACN 114 194 311)
	First Sentier Investors (Australia) Infrastructure Holdings Ltd (ACN 085 313 926)
	First Sentier Investors (Australia) Infrastructure Managers Pty Ltd (ACN 101 384 294)
	First Sentier Investors Strategic Investments Pty Limited (ACN 625 765 399)
	First Sentier Investors (Australia) RE Ltd (ACN 006 464 428)
	First Sentier Investors Asia Holdings Limited (ACN 054 571 701)
	First Sentier Investors Realindex Pty Ltd (ACN 133 312 017)
	First Sentier Investors (Luxembourg) EDIF I Feeders MC S.A.R.L (Company No. B134314)
	First Sentier Infrastructure Managers (International) Limited (Company No. 298444)
	First Sentier Investors (UK) IM Limited (Company No. SC047708)
	First Sentier Investors (UK) Services Limited (Company No. 03904320)
	First Sentier Investors (Hong Kong) Limited (CR No. 0206616)
	First Sentier Investors (Ireland) Limited (Company No. 629188)
	First Sentier Investors (Japan) Limited (Company No. 0104-01-093090)
	First Sentier Investors (Singapore) (COMPANY NO. 196900420D)
	First Sentier Investors Europe Holdings Limited (Company No. 03904310)
	First Sentier Investors (UK) Funds Limited (Company No. 02294743)
	First Sentier Investors (US) LLC (File Number 546 9442)
	First Sentier Investors (Luxembourg) EDIF I MC S.A.R.L (Company No. B128117)
	First Sentier Investors (Singapore) Holdings Limited (Registration No. 199901706Z)
	First Sentier Investors International IM Limited (Company No. SC079063)
	First Sentier Investors (Hong Kong) Nominees Limited (CR NO. 0206615)
	FSIB LTD (Registration No. 26193)
	Mitsubishi UFJ Financial Group, Inc (Registration No. 0100-01-073486)

Mitsubishi UFJ Trust and Banking Corporation (Registration No. 0100-01-008770)

SI Holdings Limited (Company No. SC109439)

First Sentier Investors (Hong Kong) AMC Limited (CR NO. 0580652)

Annexure B

This is Annexure B referred to in Form 603, Notice of initial substantial holder dated 17/08/2021

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----- Start of picture text ----- Pauline O'Connor Company Secretary Dated the 19/08/2021Holder of relevant Interest Date of Acquisition Consideration Cash Consideration non-cash Class and number of securities affectedFirst Sentier Investors Realindex Pty Ltd ACN Fully Paid ordinary133 312 017 22/04/2021 11,682 1,062 sharesFirst Sentier Investors Realindex Pty Ltd ACN Fully Paid ordinary133 312 017 05/05/2021 916,187 88,435 sharesFirst Sentier Investors Realindex Pty Ltd ACN Fully Paid ordinary133 312 017 06/05/2021 4,427 418 sharesFirst Sentier Investors Realindex Pty Ltd ACN Fully Paid ordinary133 312 017 13/05/2021 20,420 2,000 sharesFirst Sentier Investors Realindex Pty Ltd ACN Fully Paid ordinary133 312 017 19/05/2021 11,272 1,087 sharesFirst Sentier Investors (Australia) IM Ltd ACN Fully Paid ordinary114 194 311 25/05/2021 1,288,464 120,000 sharesFirst Sentier Investors Realindex Pty Ltd ACN Fully Paid ordinary133 312 017 25/05/2021 10,035 930 sharesFirst Sentier Investors Realindex Pty Ltd ACN Fully Paid ordinary133 312 017 10/06/2021 232,869 21,370 sharesFirst Sentier Investors Realindex Pty Ltd ACN Fully Paid ordinary133 312 017 10/06/2021 42,793 3,927 sharesFirst Sentier Investors Realindex Pty Ltd ACN Fully Paid ordinary133 312 017 07/07/2021 71,468 6,364 sharesFirst Sentier Investors Realindex Pty Ltd ACN Fully Paid ordinary133 312 017 13/07/2021 31,723 2,840 sharesFirst Sentier Investors Realindex Pty Ltd ACN Fully Paid ordinary133 312 017 11/08/2021 56,843 4,490 sharesFirst Sentier Investors Realindex Pty Ltd ACN Fully Paid ordinary133 312 017 16/08/2021 13,432 1,092 shares----- End of picture text -----