NICK SCALI LIMITED — Major Shareholding Notification 2021

May 6, 2021

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Form 603
Corporations Act 2001
Section 671B
Notice of initial substantial holder
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Nick Scali Ltd To Company Name/Scheme 000 403 896 ACN/ARSN

1. Details of substantial holder (1)

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First Sentier Investors Holdings Pty Limited ACN 630 725 558 and its related bodies corporate listed in annexure A
Name
630 725 558
ACN/ARSN (if applicable)
04/05/2021
The holder became a substantial holder on
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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	4,058,059	4,058,059	5.01%

*Note these securities are comprised of 3,421,631 shares in which First Sentier Investors Holdings Pty Limited and its subsidiaries have voting power and 636,428 securities in which First Sentier Investors Holdings Pty Limited's ultimate parent, Mitsubishi UFJ Financial Group, Inc. on and from 4 May 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
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	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 capacity as investment manager, as provided for under its investment mandates. In addition, if any OTC derivatives, warrants or other securities (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.	1,175,771 Fully Paid ordinary shares

First Sentier Investors (Australia) IM Ltd ACN 114 194 311	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 capacity as investment manager, as provided for under its investment mandates. In addition, if any OTC derivatives, warrants or other securities (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.	2,245,860 Fully Paid ordinary shares
Mitsubishi UFJ Financial Group	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 Limited has a relevant interest or voting power in those shares pursuant to section 608(3) or section 12(2)(a) of the Corporations Act (as relevant). 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.	636,428 Fully Paid ordinary 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 as holder (8)	Class and number of securities
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	Citibank N A Hong Kong		559,735 Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	JP Morgan Chase Bank NA		507,485 Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	National Custodian Services		108,551 Fully Paid ordinary shares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	Citibank N A Hong Kong		459,800 Fully Paid ordinary shares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	Citicorp Nominees Pty Limited (Australia)		1,770,329 Fully Paid ordinary shares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	JPMorgan (UK)		15,731 Fully Paid ordinary shares
Mitsubishi UFJ Financial Group	Mitsubishi UFJ Financial Group		636,428 Fully Paid ordinary 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 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, and therefore related body corporate, of First Sentier Investors Holdings Pty Limited
ACN 114 194 311 First Sentier Investors (Australia) IM Ltd	A wholly-owned subsidiary, and therefore related body corporate, of First Sentier Investors Holdings Pty Limited

Each company referred to is an associate of Mitsubishi UFJ Financial Group, Inc. under section 12 of the Corporations Act

Mitsubishi UFJ Financial Group

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 NSW 2000, Australia
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	Level 5, Tower Three International Towers Sydney, 300 Barangaroo Avenue, Barangaroo NSW 2000, Australia
Mitsubishi UFJ Financial Group	2-7-1, Marunouchi, Chiyoda-ku, Tokyo 100-8330, Japan

Signature

	Rachel Lim	capacity	Company Secretary
		date	06/05/2021

print name Rachel Lim

sign here

Annexure A

This is Annexure A referred to in Form 603, Notice of initial substantial holder dated 04/05/2021

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Rachel Lim	Company Secretary
	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)

Dated the 06/05/2021

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 04/05/2021

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Rachel Lim Company Secretary Dated the 06/05/2021

Holder of relevant Interest	Date of Acquisition	Consideration Cash	Consideration non-cash	Class and number of securities affected	Class and number of securities affected
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	17/03/2021	5,380		567	Fully Paid ordinary shares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	17/03/2021	151,816		16,000	Fully Paid ordinary shares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	25/03/2021	7,606		779	Fully Paid ordinary shares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	25/03/2021	214,797		22,000	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	22/04/2021	11,682		1,062	Fully Paid ordinary shares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	19/02/2021	9,748		837	Fully Paid ordinary shares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	19/02/2021	279,521		24,000	Fully Paid ordinary shares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	12/02/2021	2,712.46		241	Fully Paid ordinary shares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	12/02/2021	76,534.00		6,800	Fully Paid ordinary shares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	5/02/2021	27,175.89		2,468	Fully Paid ordinary shares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	5/02/2021	781,802.30		71,000	Fully Paid ordinary shares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	4/02/2021	88,105.33		8,383	Fully Paid ordinary shares