NUFARM LIMITED — Major Shareholding Notification 2014

Feb 3, 2014

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4 February 2014

Company Announcements Platform Australian Securities Exchange Limited 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam,

Notice of Initial Substantial Holder

In accordance with section 671B of the Corporations Act 2001 (Cth), we attach a Notice of Initial Substantial Holder (Form 603) in respect of Nufarm Limited.

A notice in substantially the same terms will also be lodged with the ASX on behalf of Westpac Banking Corporation (WBC).

Yours faithfully,

Chris Millard Company Secretary

GPO Box 7072 The Chifley Tower Sydney NSW 2001 Level 15, 2 Chifley Square Australia Sydney NSW 2000 Australia Tel 612 8253 2999

BT Investment Management Limited ABN 28 126 385 822

www.btim.com.au

BT[® ] is a registered trade mark of BT Financial Group Pty Ltd and is used under licence

Form 603

Corporations Law Section 671B Notice of initial substantial holder

To Company Name/Scheme NUFARM LIMITED (NUF) ACN/ARSN ABN 37 091 323 312

1. Details of substantial holder(1)

Name BT INVESTMENT MANAGEMENT LIMITED (BTT) ACN/ARSN (if applicable) ABN 28 126 385 822 The holder became a substantial holder on 31/01/2014

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:

follows:
Class of securities	Number of securities	Person’s votes (5)	Voting power (6)
ORDINARY SHARES	14,365,460	14,365,460	5.45%

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	Registered holder of securities	Nature of relevant interest (6)	Number of securities
Advance Asset Management Limited	HSBC Custody Nominees (Australia) Limited.	Advance Asset Management Ltd is the RE of various unit trusts and, in that capacity, can exercise the power to vote or dispose of the shares.	1,237,075
Asgard Capital Management Limited	ASGARD Capital Management Limited	Asgard Capital Management Limited ABN 92 009 279 592 AFSL 240695 RSE Licence L0001946 is the trustee, administrator and custodian of all Asgard superannuation entities, the (Hillross) PortfolioCare Retirement Plan and the BEACON	26,111

Page 1 of 15

		Superannuation Plan. In those capacities, Asgard has the power to exercise the right to vote attached to, and to dispose of, the securities held by these entities.
BT Funds Management Limited	BT Portfolio Services Limited	BT Funds Management Limited is the manager of various superannuation funds, institutional investor portfolios and unit trusts and, in that capacity, can exercise the power to vote or dispose of the shares.	60,974
BT Funds Management No.2 Limited	HSBC Custody Nominees (Australia) Limited.	BT Funds Management No 2 Limited is or may be the Manager of various Superannuation funds, Institutional investor portfolios and unit trusts and, in that capacity, can exercise the power to vote or dispose of the shares.	1,450,368
BT Investment Management (Fund Services) Limited	Australia and New Zealand Banking Group Limited BNP Fund Services Australasia Pty Limited National Australian Custodian Services National Nominees Limited National Australia Bank Limited Citicorp Nominees Pty Limited	BT Investment Management (Fund Services) Limited is the responsible entity of various managed investment schemes and, in that capacity, can exercise the power to vote or dispose of the shares.	2,030,408
BT Investment Management (Institutional) Limited	National Australia Bank Limited HSBC Custody Nominees (Australia) Limited.	BT Investment Management (Institutional) Limited (previously known as BT Investment Management (RE) Limited) is the fund manager of various superannuation funds, institutional investor portfolios and unit trusts and, in that capacity, can exercise thepower to vote or	9,424,345

Page 2 of 15

		dispose of the shares.
Westpac RE Limited	HSBC Custody Nominees (Australia) Limited.	Westpac RE Pty Limited is the manager of various superannuation funds, institutional investor portfolios and unit trusts and, in that capacity, can exercise the power to vote or dispose of the shares.	136,179

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	Persons entitled to be registered as holder(8)	Class and number of securities
Asgard Capital Management Limited	See Schedule	See Schedule
BT Funds Management Limited	See Schedule	See Schedule
Westpac RE Limited	See Schedule	See Schedule
Advance Asset Management Limited	See Schedule	See Schedule
BT Funds Management No.2 Limited	See Schedule	See Schedule
BT Investment Management (Fund Services)Limited	See Schedule	See Schedule
BT Investment Management (Institutional)Limited	See Schedule	See Schedule

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
WBC & associates	See Schedule	See Schedule

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
7. Addresses The addresses of persons named in this form are as follows:
Name	Address
Westpac Banking Corporation (WBC)	Level 20, Westpac Place, 275 Kent St, Sydney NSW 2000
Westpac Financial Services Group Limited (WFSG)	Level 20, Westpac Place, 275 Kent St, Sydney NSW 2000

Page 3 of 15

Equity Desk - (WIB) Westpac Institutional Bank *	Level 20, Westpac Place, 275 Kent St Sydney NSW 2000
Asgard Capital Management Limited	Level 20, Westpac Place, 275 Kent Street, Sydney NSW 2000
BT Funds Management Limited	Level 20, Westpac Place, 275 Kent Street, Sydney NSW 2000
Westpac RE Limited	Level 20, Westpac Place, 275 Kent Street, Sydney NSW 2000
Advance Asset Management Limited	Level 20, Westpac Place, 275 Kent Street, Sydney NSW 2000
BT Funds Management No.2 Limited	Level 20, Westpac Place, 275 Kent Street, Sydney NSW 2000
BT Investment Management (Fund Services) Limited	Level 14, Chifley Tower, 2 Chifley Sydney, SydneyNSW 2000
BT Investment Management (Institutional) Limited	Level 14, Chifley Tower, 2 Chifley Square SYDNEY NSW 2000
NUFARM LIMITED	The Company Secretary Nufarm Limited (NUF) 103 -105 Pipe Road LAVERTON VIC 3026 Tel: +61 3 9282 1000 Fax: +61 3 9282 1007

Signature

print name sign here	Chris Millard capacityCompanySecretary
	date 04/02/2014

Page 4 of 15

• 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 6of the form.

• (2) See the definition of “associate” in section 9 of the Corporations Law. (3) See the definition of “relevant interest” in sections 608 and 671B(7) of the Corporations Law. (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 scheme multiplied by 100. (7) Include details of: (a) Any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and with 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 Law.

• (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”.

• (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 muts 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.

Page 5 of 15

SCHEDULE

Sales & Purchases for the period : 30/09/2013 to 31/01/2014 SECURITY: NUF

**Advance Asset **	Management Limited
Date	Registered Company	Quantity	Value
14/10/2013	HSBC Custody Nominees (Australia) Limited.	11,915	54,213.25
15/10/2013	HSBC Custody Nominees (Australia) Limited.	418	1,922.80
16/10/2013	HSBC Custody Nominees (Australia) Limited.	234	1,071.72
16/10/2013	HSBC Custody Nominees (Australia) Limited.	45,000	207,450.00
18/10/2013	HSBC Custody Nominees (Australia) Limited.	-7,942	-38,359.86
23/10/2013	HSBC Custody Nominees (Australia) Limited.	-1,100	-5,280.00
4/11/2013	HSBC Custody Nominees (Australia) Limited.	-2,100	-10,206.00
11/11/2013	HSBC Custody Nominees (Australia) Limited.	464	2,264.32
13/11/2013	HSBC Custody Nominees (Australia) Limited.	-480	-2,433.60
13/11/2013	HSBC Custody Nominees (Australia) Limited.	-5,379	-27,271.53
14/11/2013	HSBC Custody Nominees (Australia) Limited.	-533	-2,696.98
14/11/2013	HSBC Custody Nominees (Australia) Limited.	-3,707	-18,757.42
14/11/2013	HSBC Custody Nominees (Australia) Limited.	-4,399	-22,258.94
15/11/2013	HSBC Custody Nominees (Australia) Limited.	-16,823	-85,292.61
19/11/2013	HSBC Custody Nominees (Australia) Limited.	-4,876	-24,331.24
19/11/2013	HSBC Custody Nominees (Australia) Limited.	-37	-184.63
19/11/2013	HSBC Custody Nominees (Australia) Limited.	-2,820	-14,071.80
20/11/2013	HSBC Custody Nominees (Australia) Limited.	-986	-4,801.82
20/11/2013	HSBC Custody Nominees (Australia) Limited.	-2,291	-11,157.17
20/11/2013	HSBC Custody Nominees (Australia) Limited.	-3,885	-18,919.95
20/11/2013	HSBC Custody Nominees (Australia) Limited.	-1,105	-5,381.35
29/11/2013	HSBC Custody Nominees (Australia) Limited.	-2,007	-9,713.88
29/11/2013	HSBC Custody Nominees (Australia) Limited.	-5,958	-28,836.72
2/12/2013	HSBC Custody Nominees (Australia) Limited.	-565	-2,762.85
3/12/2013	HSBC Custody Nominees (Australia) Limited.	-7,532	-36,379.56
3/12/2013	HSBC Custody Nominees (Australia) Limited.	-678	-3,274.74
3/12/2013	HSBC Custody Nominees (Australia) Limited.	-7,746	-37,413.18
9/12/2013	HSBC Custody Nominees (Australia) Limited.	24,207	102,153.54
10/12/2013	HSBC Custody Nominees (Australia) Limited.	5,641	23,466.56
11/12/2013	HSBC Custody Nominees (Australia) Limited.	6,229	25,414.32
12/12/2013	HSBC Custody Nominees (Australia) Limited.	2,930	12,100.90
12/12/2013	HSBC Custody Nominees (Australia) Limited.	-1,591	-6,427.64
12/12/2013	HSBC Custody Nominees (Australia) Limited.	-12,409	-50,132.36
13/12/2013	HSBC Custody Nominees (Australia) Limited.	7,186	29,821.90
2/01/2014	HSBC Custody Nominees (Australia) Limited.	-796	-3,478.52
2/01/2014	HSBC Custody Nominees (Australia) Limited.	-2,404	-10,505.48
15/01/2014	HSBC Custody Nominees (Australia) Limited.	-4,255	-18,041.20
17/01/2014	HSBC Custody Nominees (Australia) Limited.	-2,388	-10,053.48
17/01/2014	HSBC Custody Nominees (Australia) Limited.	-9,988	-42,049.48
17/01/2014	HSBC Custody Nominees (Australia) Limited.	-6,488	-27,314.48
17/01/2014	HSBC Custody Nominees (Australia) Limited.	-7,256	-30,547.76
17/01/2014	HSBC Custody Nominees (Australia) Limited.	-5,547	-23,352.87
17/01/2014	HSBC Custody Nominees (Australia) Limited.	-2,803	-11,800.63
17/01/2014	HSBC Custody Nominees (Australia) Limited.	-6,084	-25,613.64
20/01/2014	HSBC Custody Nominees (Australia) Limited.	-8,661	-36,376.20
20/01/2014	HSBC Custody Nominees (Australia) Limited.	-11,896	-49,963.20
20/01/2014	HSBC Custody Nominees (Australia) Limited.	-10,036	-42,151.20

Page 6 of 15

20/01/2014	HSBC Custody Nominees (Australia) Limited.	-9,098	-38,211.60
21/01/2014	HSBC Custody Nominees (Australia) Limited.	-2,124	-8,899.56
21/01/2014	HSBC Custody Nominees (Australia) Limited.	-205	-858.95
21/01/2014	HSBC Custody Nominees (Australia) Limited.	-7,652	-32,214.92
21/01/2014	HSBC Custody Nominees (Australia) Limited.	-18,783	-79,076.43
21/01/2014	HSBC Custody Nominees (Australia) Limited.	-195	-820.95
22/01/2014	HSBC Custody Nominees (Australia) Limited.	-2,937	-12,276.66
22/01/2014	HSBC Custody Nominees (Australia) Limited.	-2,294	-9,588.92
23/01/2014	HSBC Custody Nominees (Australia) Limited.	-4,374	-18,239.58
23/01/2014	HSBC Custody Nominees (Australia) Limited.	-1,197	-4,991.49
23/01/2014	HSBC Custody Nominees (Australia) Limited.	-187	-779.79
23/01/2014	HSBC Custody Nominees (Australia) Limited.	-11,316	-47,187.72
23/01/2014	HSBC Custody Nominees (Australia) Limited.	-12,899	-53,788.83
23/01/2014	HSBC Custody Nominees (Australia) Limited.	-2,000	-8,320.00
24/01/2014	HSBC Custody Nominees (Australia) Limited.	-2,464	-10,077.76
24/01/2014	HSBC Custody Nominees (Australia) Limited.	-18,000	-73,440.00
31/01/2014	HSBC Custody Nominees (Australia) Limited.	189,025	720,185.25
	Total	21,973	-16,302.57
	Advance Asset Management Limited Total :	21,973	-16,302.57
Asgard Capital	Management Limited
Date	Registered Company	Quantity	Value
4/11/2013	ASGARD Capital Management Limited	-350	-1,718.50
14/11/2013	ASGARD Capital Management Limited	1,577	7,995.39
15/11/2013	ASGARD Capital Management Limited	15	72.45
15/11/2013	ASGARD Capital Management Limited	-203	-1,043.42
25/11/2013	ASGARD Capital Management Limited	1,193	6,000.79
9/12/2013	ASGARD Capital Management Limited	1,000	4,200.00
30/01/2014	ASGARD Capital Management Limited	1,500	6,045.00
	Total	4,732	21,551.71
	Asgard Capital Management Limited Total :	4,732	21,551.71
BT Funds Management Limited
Date	Registered Company	Quantity	Value
7/10/2013	BT Portfolio Services Limited	-1,333	-6,285.63
21/10/2013	BT Portfolio Services Limited	-221	-1,048.78
22/11/2013	BT Portfolio Services Limited	2,015	10,030.67
17/12/2013	BT Portfolio Services Limited	1,627	7,048.65
14/01/2014	BT Portfolio Services Limited	-885	-3,761.60
	Total	1,203	5,983.31
	BT Funds Management Limited Total :	1,203	5,983.31
BT Funds Management No.2 Limited
Date	Registered Company	Quantity	Value
14/11/2013	HSBC Custody Nominees (Australia) Limited.	-25,972	-131,678.04
14/11/2013	HSBC Custody Nominees (Australia) Limited.	-471	-2,387.97
14/11/2013	HSBC Custody Nominees (Australia) Limited.	-8,625	-43,728.75
14/11/2013	HSBC Custody Nominees (Australia) Limited.	-221	-1,120.47

Page 7 of 15

15/11/2013	HSBC Custody Nominees (Australia) Limited.	11,545	55,762.35
10/12/2013	HSBC Custody Nominees (Australia) Limited.	24,968	103,617.20
16/12/2013	HSBC Custody Nominees (Australia) Limited.	43,819	186,668.94
17/12/2013	HSBC Custody Nominees (Australia) Limited.	17,663	75,597.64
17/01/2014	HSBC Custody Nominees (Australia) Limited.	48,646	204,799.66
20/01/2014	HSBC Custody Nominees (Australia) Limited.	53,323	224,489.83
21/01/2014	HSBC Custody Nominees (Australia) Limited.	25,318	106,588.78
31/01/2014	HSBC Custody Nominees (Australia) Limited.	144,118	549,089.58
	Total	334,111	1,327,698.75
	BT Funds Management No.2 Limited Total :	334,111	1,327,698.75
**BT Investment **	Management (Fund Services) Limited
Date	Registered Company	Quantity	Value
15/11/2013	Australia and New Zealand Banking Group Limited	1,147	5,551.48
10/12/2013	Australia and New Zealand Banking Group Limited	1,964	8,150.60
16/12/2013	Australia and New Zealand Banking Group Limited	2,936	12,507.36
17/12/2013	Australia and New Zealand Banking Group Limited	1,595	6,826.60
17/01/2014	Australia and New Zealand Banking Group Limited	5,417	22,805.57
20/01/2014	Australia and New Zealand Banking Group Limited	5,594	23,550.74
21/01/2014	Australia and New Zealand Banking Group Limited	2,656	11,181.76
31/01/2014	Australia and New Zealand Banking Group Limited	14,979	57,069.99
	Total	36,288	147,644.10
Date	Registered Company	Quantity	Value
31/01/2014	BNP Fund Services Australasia Pty Limited	90,798	345,940.38
	Total	90,798	345,940.38
Date	Registered Company	Quantity	Value
31/01/2014	Citicorp Nominees Pty Limited	213,814	814,631.34
	Total	213,814	814,631.34
Date	Registered Company	Quantity	Value
4/12/2013	JP Morgan Chase Bank	-28,715	-136,109.10
10/12/2013	JP Morgan Chase Bank	-3,055	-12,678.25
10/12/2013	JP Morgan Chase Bank	-85,189	-353,534.35
10/12/2013	JP Morgan Chase Bank	-1,168	-4,847.20
10/12/2013	JP Morgan Chase Bank	-588	-2,440.20
	Total	-118,715	-509,609.10
Date	Registered Company	Quantity	Value
31/01/2014	National Australia Bank Limited	43,062	164,066.22
31/01/2014	National Australia Bank Limited	147,553	562,176.93
	Total	190,615	726,243.15
Date	Registered Company	Quantity	Value
15/11/2013	National Australian Custodian Services	9,256	44,706.48
15/11/2013	National Australian Custodian Services	4,958	23,947.14
15/11/2013	National Australian Custodian Services	2,876	13,919.84
10/12/2013	National Australian Custodian Services	17,424	72,309.60
10/12/2013	National Australian Custodian Services	9,352	38,810.80
10/12/2013	National Australian Custodian Services	5,992	24,866.80
13/12/2013	National Australian Custodian Services	-26,368	-110,745.60

Page 8 of 15

13/12/2013	National Australian Custodian Services	-32,279	-135,571.80
13/12/2013	National Australian Custodian Services	-19,732	-82,874.40
13/12/2013	National Australian Custodian Services	-2,891	-12,142.20
13/12/2013	National Australian Custodian Services	-136,230	-572,166.00
13/12/2013	National Australian Custodian Services	-4,170	-17,514.00
13/12/2013	National Australian Custodian Services	-23,487	-98,645.40
13/12/2013	National Australian Custodian Services	-36	-151.20
13/12/2013	National Australian Custodian Services	-15,738	-66,099.60
13/12/2013	National Australian Custodian Services	-7,553	-31,722.60
13/12/2013	National Australian Custodian Services	-16,425	-68,985.00
13/12/2013	National Australian Custodian Services	-14,895	-62,559.00
13/12/2013	National Australian Custodian Services	-7,361	-30,916.20
13/12/2013	National Australian Custodian Services	-22,854	-95,986.80
13/12/2013	National Australian Custodian Services	-11,988	-50,349.60
13/12/2013	National Australian Custodian Services	-16,366	-68,737.20
13/12/2013	National Australian Custodian Services	-57,958	-243,423.60
13/12/2013	National Australian Custodian Services	-13,760	-57,792.00
13/12/2013	National Australian Custodian Services	-19,504	-81,916.80
13/12/2013	National Australian Custodian Services	-8,260	-34,692.00
13/12/2013	National Australian Custodian Services	-21,670	-91,014.00
13/12/2013	National Australian Custodian Services	-26,728	-112,257.60
13/12/2013	National Australian Custodian Services	-8,442	-35,456.40
13/12/2013	National Australian Custodian Services	-6,552	-27,518.40
13/12/2013	National Australian Custodian Services	-21,998	-92,391.60
13/12/2013	National Australian Custodian Services	-12,344	-51,844.80
13/12/2013	National Australian Custodian Services	-26,484	-111,232.80
13/12/2013	National Australian Custodian Services	-6,388	-26,829.60
13/12/2013	National Australian Custodian Services	-20,735	-87,087.00
13/12/2013	National Australian Custodian Services	-23,531	-98,830.20
13/12/2013	National Australian Custodian Services	-1,747	-7,337.40
13/12/2013	National Australian Custodian Services	-9,256	-38,875.20
13/12/2013	National Australian Custodian Services	-16,400	-68,880.00
13/12/2013	National Australian Custodian Services	-4,570	-19,194.00
13/12/2013	National Australian Custodian Services	-20,815	-87,423.00
13/12/2013	National Australian Custodian Services	-1,582	-6,644.40
13/12/2013	National Australian Custodian Services	-20,753	-87,162.60
13/12/2013	National Australian Custodian Services	-22,767	-95,621.40
13/12/2013	National Australian Custodian Services	-49,517	-207,971.40
13/12/2013	National Australian Custodian Services	-1,095	-4,599.00
13/12/2013	National Australian Custodian Services	-17,424	-73,180.80
13/12/2013	National Australian Custodian Services	-6,742	-28,316.40
13/12/2013	National Australian Custodian Services	-1,938	-8,139.60
13/12/2013	National Australian Custodian Services	-40,092	-168,386.40
13/12/2013	National Australian Custodian Services	-10,457	-43,919.40
13/12/2013	National Australian Custodian Services	-13,891	-58,342.20
13/12/2013	National Australian Custodian Services	-6,959	-29,227.80
13/12/2013	National Australian Custodian Services	-75	-315.00
13/12/2013	National Australian Custodian Services	-23,782	-99,884.40
13/12/2013	National Australian Custodian Services	-5,801	-24,364.20
13/12/2013	National Australian Custodian Services	-441	-1,852.20
13/12/2013	National Australian Custodian Services	-12,791	-53,722.20
13/12/2013	National Australian Custodian Services	-3,572	-15,002.40
13/12/2013	National Australian Custodian Services	-3,016	-12,667.20
13/12/2013	National Australian Custodian Services	-867	-3,641.40

Page 9 of 15

13/12/2013	National Australian Custodian Services	-6,227	-26,153.40
13/12/2013	National Australian Custodian Services	-20,938	-87,939.60
13/12/2013	National Australian Custodian Services	-12,223	-51,336.60
13/12/2013	National Australian Custodian Services	-2,168	-9,105.60
13/12/2013	National Australian Custodian Services	-12,403	-52,092.60
13/12/2013	National Australian Custodian Services	-4,958	-20,823.60
13/12/2013	National Australian Custodian Services	-8,501	-35,704.20
13/12/2013	National Australian Custodian Services	-10,135	-42,567.00
13/12/2013	National Australian Custodian Services	-11,819	-49,639.80
13/12/2013	National Australian Custodian Services	-7,148	-30,021.60
13/12/2013	National Australian Custodian Services	-10,779	-45,271.80
13/12/2013	National Australian Custodian Services	-9,352	-39,278.40
13/12/2013	National Australian Custodian Services	-821	-3,448.20
13/12/2013	National Australian Custodian Services	-4,387	-18,425.40
13/12/2013	National Australian Custodian Services	-11,989	-50,353.80
13/12/2013	National Australian Custodian Services	-11,256	-47,275.20
13/12/2013	National Australian Custodian Services	-3,454	-14,506.80
13/12/2013	National Australian Custodian Services	-2,414	-10,138.80
13/12/2013	National Australian Custodian Services	-10,246	-43,033.20
13/12/2013	National Australian Custodian Services	-8,173	-34,326.60
13/12/2013	National Australian Custodian Services	-3,823	-16,056.60
13/12/2013	National Australian Custodian Services	-12,378	-51,987.60
13/12/2013	National Australian Custodian Services	-5,432	-22,814.40
13/12/2013	National Australian Custodian Services	-1,501	-6,304.20
13/12/2013	National Australian Custodian Services	-30,135	-126,567.00
13/12/2013	National Australian Custodian Services	-962	-4,040.40
13/12/2013	National Australian Custodian Services	-3,318	-13,935.60
13/12/2013	National Australian Custodian Services	-10,812	-45,410.40
13/12/2013	National Australian Custodian Services	-7,743	-32,520.60
13/12/2013	National Australian Custodian Services	-8,531	-35,830.20
13/12/2013	National Australian Custodian Services	-8,524	-35,800.80
13/12/2013	National Australian Custodian Services	-974	-4,090.80
13/12/2013	National Australian Custodian Services	-3,502	-14,708.40
13/12/2013	National Australian Custodian Services	-569	-2,389.80
13/12/2013	National Australian Custodian Services	-7,215	-30,303.00
13/12/2013	National Australian Custodian Services	-13,754	-57,766.80
13/12/2013	National Australian Custodian Services	-6,649	-27,925.80
13/12/2013	National Australian Custodian Services	-11,401	-47,884.20
13/12/2013	National Australian Custodian Services	-16,945	-71,169.00
13/12/2013	National Australian Custodian Services	-4,291	-18,022.20
13/12/2013	National Australian Custodian Services	-39	-163.80
13/12/2013	National Australian Custodian Services	-3,403	-14,292.60
13/12/2013	National Australian Custodian Services	-26,213	-110,094.60
13/12/2013	National Australian Custodian Services	-13,692	-57,506.40
13/12/2013	National Australian Custodian Services	-1,639	-6,883.80
13/12/2013	National Australian Custodian Services	-10,293	-43,230.60
13/12/2013	National Australian Custodian Services	-70,763	-297,204.60
13/12/2013	National Australian Custodian Services	-229	-961.80
13/12/2013	National Australian Custodian Services	-11,871	-49,858.20
13/12/2013	National Australian Custodian Services	-19	-79.80
13/12/2013	National Australian Custodian Services	-13,885	-58,317.00
13/12/2013	National Australian Custodian Services	-6,350	-26,670.00
16/12/2013	National Australian Custodian Services	10,324	43,980.24
17/12/2013	National Australian Custodian Services	4,464	19,105.92

Page 10 of 15

17/01/2014	National Australian Custodian Services	14,249	59,988.29
20/01/2014	National Australian Custodian Services	14,442	60,800.82
21/01/2014	National Australian Custodian Services	6,857	28,867.97
31/01/2014	National Australian Custodian Services	37,805	144,037.05
	Total	-1,277,324	-5,369,015.65
Date	Registered Company	Quantity	Value
15/11/2013	National Nominees Limited	3,161	15,267.63
10/12/2013	National Nominees Limited	6,574	27,282.10
16/12/2013	National Nominees Limited	11,321	48,227.46
17/12/2013	National Nominees Limited	4,901	20,976.28
17/01/2014	National Nominees Limited	15,661	65,932.81
20/01/2014	National Nominees Limited	15,870	66,812.70
21/01/2014	National Nominees Limited	7,535	31,722.35
31/01/2014	National Nominees Limited	41,540	158,267.40
	Total	106,563	434,488.73
	BT Investment Management (Fund Services) Limited
	Total :	-757,961	-3,409,677.05
**BT Investment **	Management (Institutional) Limited
Date	Registered Company	Quantity	Value
14/11/2013	HSBC Custody Nominees (Australia) Limited.	-177,304	-898,931.28
15/11/2013	HSBC Custody Nominees (Australia) Limited.	57,452	277,493.16
4/12/2013	HSBC Custody Nominees (Australia) Limited.	-35,375	-167,677.50
10/12/2013	HSBC Custody Nominees (Australia) Limited.	128,726	534,212.90
10/12/2013	HSBC Custody Nominees (Australia) Limited.	-3,219	-13,358.85
10/12/2013	HSBC Custody Nominees (Australia) Limited.	-2,414	-10,018.10
10/12/2013	HSBC Custody Nominees (Australia) Limited.	-97,029	-402,670.35
10/12/2013	HSBC Custody Nominees (Australia) Limited.	-2,338	-9,702.70
16/12/2013	HSBC Custody Nominees (Australia) Limited.	209,304	891,635.04
17/12/2013	HSBC Custody Nominees (Australia) Limited.	84,327	360,919.56
17/01/2014	HSBC Custody Nominees (Australia) Limited.	245,461	1,033,390.81
20/01/2014	HSBC Custody Nominees (Australia) Limited.	266,582	1,122,310.22
21/01/2014	HSBC Custody Nominees (Australia) Limited.	126,573	532,872.33
31/01/2014	HSBC Custody Nominees (Australia) Limited.	118,808	452,658.48
31/01/2014	HSBC Custody Nominees (Australia) Limited.	721,994	2,750,797.14
31/01/2014	HSBC Custody Nominees (Australia) Limited.	76,754	292,432.74
	Total	1,718,302	6,746,363.60
Date	Registered Company	Quantity	Value
13/12/2013	National Australia Bank Limited	493,701	2,073,544.20
13/12/2013	National Australia Bank Limited	921,622	3,870,812.40
17/12/2013	National Australia Bank Limited	78,015	333,904.20
17/01/2014	National Australia Bank Limited	56,802	239,136.42
20/01/2014	National Australia Bank Limited	65,419	275,413.99
21/01/2014	National Australia Bank Limited	31,061	130,766.81
31/01/2014	National Australia Bank Limited	190,880	727,252.80
	Total	1,837,500	7,650,830.82
	BT Investment Management (Institutional) Limited
	Total :	3,555,802	14,397,194.42

Page 11 of 15

Westpac RE	Limited
Date	Registered Company	Quantity	Value
17/10/2013	HSBC Custody Nominees (Australia) Limited.	-1,797	-8,391.99
17/10/2013	HSBC Custody Nominees (Australia) Limited.	-4,595	-21,458.65
19/11/2013	HSBC Custody Nominees (Australia) Limited.	-1,909	-9,525.91
19/11/2013	HSBC Custody Nominees (Australia) Limited.	-8,127	-40,553.73
20/11/2013	HSBC Custody Nominees (Australia) Limited.	-1,792	-8,727.04
20/11/2013	HSBC Custody Nominees (Australia) Limited.	-1,434	-6,983.58
20/11/2013	HSBC Custody Nominees (Australia) Limited.	-7,503	-36,539.61
10/12/2013	HSBC Custody Nominees (Australia) Limited.	10,365	43,118.40
11/12/2013	HSBC Custody Nominees (Australia) Limited.	11,444	46,691.52
12/12/2013	HSBC Custody Nominees (Australia) Limited.	5,384	22,235.92
13/12/2013	HSBC Custody Nominees (Australia) Limited.	13,202	54,788.30
21/01/2014	HSBC Custody Nominees (Australia) Limited.	-2,903	-12,163.57
21/01/2014	HSBC Custody Nominees (Australia) Limited.	-3,641	-15,255.79
22/01/2014	HSBC Custody Nominees (Australia) Limited.	-1,966	-8,217.88
22/01/2014	HSBC Custody Nominees (Australia) Limited.	-4,745	-19,834.10
22/01/2014	HSBC Custody Nominees (Australia) Limited.	-5,951	-24,875.18
22/01/2014	HSBC Custody Nominees (Australia) Limited.	-2,035	-8,506.30
23/01/2014	HSBC Custody Nominees (Australia) Limited.	-1,894	-7,897.98
23/01/2014	HSBC Custody Nominees (Australia) Limited.	-3,043	-12,689.31
23/01/2014	HSBC Custody Nominees (Australia) Limited.	-4,797	-20,003.49
23/01/2014	HSBC Custody Nominees (Australia) Limited.	-1,092	-4,553.64
23/01/2014	HSBC Custody Nominees (Australia) Limited.	-1,548	-6,455.16
23/01/2014	HSBC Custody Nominees (Australia) Limited.	-3,803	-15,858.51
24/01/2014	HSBC Custody Nominees (Australia) Limited.	-3,493	-14,286.37
24/01/2014	HSBC Custody Nominees (Australia) Limited.	-3,430	-14,028.70
	Total	-31,103	-149,972.35
	Westpac RE Limited Total :	-31,103	-149,972.35

Page 12 of 15

ANNEXURE A – ASSOCIATED COMPANIES

This is the annexure ‘A’ (being 3 pages) referred to in Form 603, Notice of initial substantial holder, lodged for Westpac and its associated entities

Tim Hartin – Company Secretary WBC – 31/01/2014

Westpac Banking Corporation	Australia	Packaging Properties 3 Pty Limited	Australia
1925 (Commercial) Pty Limited	Australia	Partnership Pacific Pty Limited	Australia
1925 (Industrial) Pty Limited	Australia	Partnership Pacific Securities Pty Limited	Australia
1925 Advances Pty Limited	Australia	Pashley Investments Pty Limited	Australia
A.G.C. (Pacific) Limited	Papua New Guinea	Qvalent Pty Limited	Australia
Advance Asset Management Limited	Australia	RAMS Financial Group Pty Limited	Australia
Altitude Administration Pty Limited	Australia	RMS Warehouse Trust 2007-1	Australia
Altitude Rewards Pty Limited	Australia	Sallmoor Pty Limited	Australia
Aotearoa Financial Services Limited	New Zealand	Securitor Financial Group Limited	Australia
Ascalon Capital Managers (Asia) Limited	Hong Kong	Seed Pool Trust No. 2	Australia
Ascalon Capital Managers Limited	Australia	Series 2007-1G WST Trust	Australia
Ascalon Funds Seed Pool Trust	Australia	Series 2008-1M WST Trust	Australia
Asgard Capital Management Limited	Australia	Series 2009-1 WST Trust	Australia
Asgard Wealth Solutions Limited	Australia	Series 2011-1 WST Trust	Australia
Australian Loan Processing Security Company Pty
Limited	Australia	Series 2011-2 WST Trust	Australia
Australian Loan Processing Security Trust	Australia	Series 2011-3 WST Trust	Australia
Belliston Pty Limited	Australia	Series 2012-1 WST Trust	Australia
Bill Acceptance Corporation Pty Limited	Australia	Series 2013-1 WST Trust	Australia
BLE Capital Investments Pty Limited	Australia	Series 2013-2 WST Trust	Australia
BLE Capital Limited	Australia	Sie-Lease (New Zealand) Pty Limited	New Zealand
BLE Development Pty Limited	Australia	Sixty Martin Place (Holdings) Pty Limited	Australia
BLE Holdings Pty Limited	Australia	St.George Business Finance Pty Limited	Australia
BOS International (Australia) Limited	Australia	St.George Custodial Pty Limited	Australia
BOS International (Securities) Limited	Australia	St.George Equity Finance Limited	Australia
BOSI Security Services Pty Ltd	Australia	St.George Finance Holdings Limited	Australia
BT (Queensland) Pty Limited	Australia	St.George Finance Limited	Australia
BT Australia Pty Limited	Australia	St.George Life Limited	Australia
BT Financial Group (NZ) Limited	New Zealand	St.George Motor Finance Limited	Australia
BT Financial Group Pty Limited	Australia	St.George Procurement Management Pty Limited	Australia
BT Funds Management (NZ) Limited	New Zealand	St.George Security Holdings Pty Limited	Australia
BT Funds Management Limited	Australia	Sydney Capital Corp Inc.	USA
BT Funds Management No.2 Limited	Australia	Tavarua Funding Trust III	USA
BT Investment Management (Fund Services) Limited	Australia	Tavarua Funding Trust IV	USA
BT Investment Management (Institutional) Limited	Australia	Teuton Pty Limited	Australia
BT Investment Management Limited	Australia	The Home Mortgage Company Limited	New Zealand
BT Long Term Income Fund	Australia	The Mortgage Company Pty Limited	Australia
BT Portfolio Services Limited	Australia	The Warehouse Financial Services Limited	New Zealand
BT Private Nominees Pty Limited (formerly known as BT Investment Management No.2 Limited)	Australia	Value Nominees Pty Limited	Australia
BT Securities Limited	Australia	W1 Investments Pty Limited	Australia
BT Short Term Income Fund	Australia	Waratah Receivables Corp Pty Limited	Australia
BTIM UK Limited	UK	Waratah Securities Australia Limited	Australia
Canning Park Capital Pte. Ltd	Australia	Westpac (NZ) Investments Limited	New Zealand
Capital Finance Australia Limited	Australia	Westpac Administration Pty Limited	Australia

Page 13 of 15

Capital Fleetlease Limited	Australia	Westpac Altitude Rewards Trust	Australia
Capital Finance (NZ) Limited	Australia	Westpac Americas Inc.	USA
Capital Corporate Finance Limited	Australia	Westpac Asian Lending Pty Limited	Australia
Capital Rent Group Limited	Australia	Westpac Bank of Tonga	Tonga
Capital Motor Finance Limited	Australia	Westpac Bank Samoa Limited	Samoa
			Papua New
Capital Finance New Zealand Limited	New Zealand	Westpac Bank-PNG-Limited	Guinea
Castlereagh Trust	Australia	Westpac Capital Holdings Inc.	USA
CBA Limited	Australia	Westpac Capital Markets Holding Corp.	USA
Challenge Limited	Australia	Westpac Capital Markets LLC	USA
Codrington S.a.r.l.	Luxembourg	Westpac Capital Trust III	USA
Crusade ABS Series 2012 - 1 Trust	Australia	Westpac Capital Trust IV	USA
Crusade ABS Series 2013 - 1 Trust	Australia	Westpac Capital-NZ-Limited	New Zealand
Crusade CP Management Pty Limited	Australia	Westpac Cash PIE Fund	Australia
Crusade CP No.1 Pty Limited	Australia	Westpac Cook Cove Trust I	Australia
Crusade CP Trust No. 41	Australia	Westpac Cook Cove Trust II	Australia
Crusade CP Trust No. 44	Australia	Westpac Covered Bond Trust New	Australia
Crusade CP Trust No. 48	Australia	Westpac Custodian Nominees Limited	Australia
Crusade CP Trust No. 49	Australia	Westpac Debt Securities Pty Limited	Australia
Crusade CP Trust No. 50	Australia	Westpac Delta LLC	USA
Crusade CP Trust No. 52	Australia	Westpac Direct Equity Investments Pty Limited	Australia
Crusade CP Trust No. 53	Australia	Westpac Equipment Finance (No.1) Pty Limited	Australia
Crusade CP Trust No. 54	Australia	Westpac Equipment Finance Limited	Australia
Crusade CP Trust No. 55	Australia	Westpac Equity Holdings Pty Limited	Australia
Crusade CP Trust No. 56	Australia	Westpac Equity Investments NZ Limited	New Zealand
Crusade CP Trust No. 57	Australia	Westpac Equity Pty Limited	Australia
Crusade CP Trust No. 58	Australia	Westpac Europe Limited	UK
Crusade CP Trust No. 60	Australia	Westpac Finance (HK) Limited	Hong Kong
Crusade Euro Trust 1E of 2006	Australia	Westpac Financial Consultants Limited	Australia
Crusade Euro Trust 1E of 2007	Australia	Westpac Financial Holdings Pty Limited	Australia
Crusade Global Trust 1 of 2005	Australia	Westpac Financial Services Group Limited	Australia
Crusade Global Trust 1 of 2006	Australia	Westpac Financial Services Group-NZ-Limited	New Zealand
Crusade Global Trust 1 of 2007	Australia	Westpac Financial Services Limited	Australia
Crusade Global Trust 2 of 2004	Australia	Westpac Funding Holdings Pty Limited	Australia
Crusade Global Trust 2 of 2005	Australia	Westpac Funds Financing Holdco Pty Limited	Australia
Crusade Global Trust 2 of 2006	Australia	Westpac Funds Financing Pty Limited	Australia
Crusade Management Limited	Australia	Westpac General Insurance Limited	Australia
Crusade Trust 1A of 2005	Australia	Westpac General Insurance Services Limited	Australia
Crusade 2P Trust of 2008	Australia	Westpac Group Investment-NZ-Limited	New Zealand
Danaby Pty Limited	Australia	Westpac Group Investments Australia Pty Limited	Australia
eQR Securities Pty. Limited	Australia	Westpac Global Capital Markets Pty Limited	Australia
Europe Infrastructure Debt LP	UK	Westpac Holdings-NZ-Limited	New Zealand
G.C.L. Investments Pty Limited	Australia	Westpac Investment Capital Corporation	USA
General Credit Holdings Pty Limited	Australia	Westpac Investment Vehicle No.2 Pty Limited	Australia
General Credits Pty Limited	Australia	Westpac Investment Vehicle No.3 Pty Limited	Australia
Halcyon Securities Limited	Australia	Westpac Investment Vehicle Pty Limited	Australia
Hastings Advisers LLC	USA	Westpac Investments U.K. Limited	UK
Hastings Forestry Investments Limited	New Zealand	Westpac Leasing Nominees-Vic.-Pty Limited	Australia
Hastings Forests Australia Pty Limited	Australia	Westpac Lenders Mortgage Insurance Limited	Australia

Page 14 of 15

Hastings Funds Management Asia Pty. Limited	Singapore	Westpac Life Insurance Services Limited	Australia
Hastings Funds Management (UK) Limited	UK	Westpac Life-NZ-Limited	New Zealand
Hastings Funds Management (USA) Inc.	USA	Westpac New Zealand Group Limited	New Zealand
Hastings Funds Management Limited	Australia	Westpac New Zealand Limited	New Zealand
Hastings Group Pty Limited	Australia	Westpac Nominees-NZ-Limited	New Zealand
Hastings Infrastructure 1 Limited	UK	Westpac NZ Covered Bond Holdings Limited	New Zealand
Hastings Infrastructure 2 Limited	UK	Westpac NZ Covered Bond Limited	New Zealand
Hastings Investment Capital LP	USA	Westpac NZ Leasing Limited	New Zealand
Hastings Investments GP LLC	USA	Westpac NZ Operations Limited	New Zealand
Hastings Investment Management Pty Ltd (formerly Hastings Private Equity Fund IIB Pty Limited)	Australia	Westpac NZ Securitisation Holdings Limited	New Zealand
Hastings Korea Company Limited	Korea	Westpac NZ Securitisation Limited	New Zealand
Hastings Management Pty Limited	Australia	Westpac NZ Securitisation No. 2 Limited	New Zealand
Hastings Private Equity Fund IIA Pty Limited	Australia	Westpac Overseas Holdings No. 2 Pty Limited	Australia
Hickory Trust	Australia	Westpac Overseas Holdings Pty Limited	Australia
Hitton Pty Limited	Australia	Westpac Pacific Limited Partnership	Australia
HLT Custodian Trust	New Zealand	Westpac Properties Limited	Australia
Infrastructure GP LLP	UK	Westpac RE Limited	Australia
J O Hambro Capital Management Holdings Limited	UK	Westpac Securities Administration Limited	Australia
J O Hambro Capital Management Limited	UK	Westpac Securities Limited	Australia
JOHCM (Singapore) Pte Limited	Singapore	Westpac Securities NZ Limited	New Zealand
JOHCM (USA) Inc	USA	Westpac Securitisation Holdings Pty Limited	Australia
JOHCMG Share Trustee Limited	UK	Westpac Securitisation Management Pty Limited	Australia
Magnitude Group Pty Limited	Australia	Westpac Singapore Limited	Singapore
MIF Custodian Trust	New Zealand	Westpac Structured Products Limited	Australia
Mortgage Management Pty Limited	Australia	Westpac Superannuation Nominees-NZ-Limited	New Zealand
Nationwide Management Pty Limited	Australia	Westpac Syndications Management Pty Limited	Australia
Net Nominees Limited	Australia	Westpac Term PIE Fund	New Zealand
Number 120 Limited1	New Zealand	Westpac TPS Trust	Australia
Oniston Pty Limited	Australia	Westpac Unit Trust	Australia
Packaging Properties 1 Pty Limited	Australia	Westpac USA Inc.	USA
Packaging Properties 2 Pty Limited	Australia

Note: Westpac retains 63% ownership of BT Investment Management Limited who lodges separate notices under ASX code ‘BTT’

BT Investment Management Limited (63%)

BT Investment Management (Institutional) Limited (Subsidiary of BT Investment Management Limited)

Australia Australia

Page 15 of 15