NUFARM LIMITED — Major Shareholding Notification 2021

Jan 18, 2021

604 Page 1 of 3 15 July 2001

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme

ACN/ARSN

NUFARM LTD

091 323 312

1. Details of substantial holder (1)

Name Firetrail Investments

ACN/ARSN (if applicable)

622 377 913

There was a change in the interests of the substantial holder on

substantial holder on 14/01/2021 The previous notice was given to the company on 05/11/2018 The previous notice was dated 05/11/2018

2. Previous and present 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 when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice		Present notice
	Person’s votes	Voting power(5)	Person’s votes	Voting power(5)
ORDINARY FULLY PAID	25,400,315	6.69%	30,241,799	7.96%
			REFER TO ANNEXURE A

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 company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme 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
REFER TO ANNEXURE B

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
REFER TO ANNEXURE C

604 Page 2 of 3 15 July 2001

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 scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
N/A

6. Addresses

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

Name	Address
REFER TO ANNEXURE D

Signature

print name ALEX IHLENFELDT capacity COMPANY SECRETARY sign here date 18/01/2021

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 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 scheme multiplied by 100.

• (6) 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 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 Act 2001.

• (7) 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 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.

• (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".

604 Page 3 of 3 15 July 2001

(9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

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NUFARM LTD
Annexure A
Holder of relevant interest Nature of relevant interest Number of Class of securities
securities
Firetrail Investments Firetrail Investments in its capacity as investment manager has 30,241,799 ORDINARY FULLY
the power to control voting and/or disposal of securities. PAID
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This is Annexure "A" as mentioned in form 604 Notice of change of interests of substantial holder

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Alex Ihlenfeldt Company Secretary Date: 14/01/2021

NUFARM LTD

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Annexure B
Date of Person whose relevant Nature of change Consideration Class of Securities Number of Person's votes
change interest changed securities affected
Cash Non-cash
9/10/2020 Firetrail Investments Sale -$ 381,537.90 ORDINARY FULLY - 95,500 - 95,500
PAID
14/10/2020 As above Purchase $ 270,104.94 ORDINARY FULLY 69,500 69,500
PAID
14/10/2020 As above Sale -$ 196,391.42 ORDINARY FULLY - 50,700 - 50,700
PAID
14/10/2020 As above Sale -$ 72,823.64 ORDINARY FULLY - 18,800 - 18,800
PAID
19/10/2020 As above Sale -$ 214,157.23 ORDINARY FULLY - 54,700 - 54,700
PAID
21/10/2020 As above In-specie transfer out -$ 139,551.59 ORDINARY FULLY - 36,821 - 36,821
PAID
21/10/2020 As above In-specie transfer out -$ 26,677.81 ORDINARY FULLY - 7,039 - 7,039
PAID
21/10/2020 As above In-specie transfer in $ 465,260.40 ORDINARY FULLY 122,760 122,760
PAID
21/10/2020 As above In-specie transfer out -$ 69,349.42 ORDINARY FULLY - 18,298 - 18,298
PAID
21/10/2020 As above In-specie transfer out -$ 41,587.67 ORDINARY FULLY - 10,973 - 10,973
PAID
21/10/2020 As above In-specie transfer out -$ 150,186.33 ORDINARY FULLY - 39,627 - 39,627
PAID
21/10/2020 As above In-specie transfer out -$ 37,907.58 ORDINARY FULLY - 10,002 - 10,002
PAID
22/10/2020 As above Sale -$ 403,370.13 ORDINARY FULLY - 107,200 - 107,200
PAID
12/11/2020 As above Purchase $ 433,386.28 ORDINARY FULLY 112,822 112,822
PAID
12/11/2020 As above Purchase $ 24,310.38 ORDINARY FULLY 6,338 6,338
PAID
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12/11/2020 As above Purchase $ 3,108.05 ORDINARY FULLY 807 807
PAID
12/11/2020 As above Purchase $ 1,325,031.44 ORDINARY FULLY 344,941 344,941
PAID
12/11/2020 As above Purchase $ 74,327.32 ORDINARY FULLY 19,378 19,378
PAID
12/11/2020 As above Purchase $ 9,507.85 ORDINARY FULLY 2,469 2,469
PAID
12/11/2020 As above Purchase $ 251,910.43 ORDINARY FULLY 65,579 65,579
PAID
12/11/2020 As above Purchase $ 14,130.55 ORDINARY FULLY 3,684 3,684
PAID
12/11/2020 As above In-specie transfer in $ 1,805.65 ORDINARY FULLY 469 469
PAID
12/11/2020 As above Purchase $ 530,944.48 ORDINARY FULLY 138,219 138,219
PAID
12/11/2020 As above Purchase $ 29,783.85 ORDINARY FULLY 7,765 7,765
PAID
12/11/2020 As above Purchase $ 3,808.75 ORDINARY FULLY 989 989
PAID
12/11/2020 As above Purchase $ 853,884.91 ORDINARY FULLY 222,289 222,289
PAID
12/11/2020 As above Purchase $ 47,895.82 ORDINARY FULLY 12,487 12,487
PAID
12/11/2020 As above Purchase $ 6,127.55 ORDINARY FULLY 1,591 1,591
PAID
12/11/2020 As above Purchase $ 179,678.11 ORDINARY FULLY 46,775 46,775
PAID
12/11/2020 As above Purchase $ 10,080.10 ORDINARY FULLY 2,628 2,628
PAID
12/11/2020 As above In-specie transfer in $ 1,289.75 ORDINARY FULLY 335 335
PAID
12/11/2020 As above Purchase $ 1,063,982.48 ORDINARY FULLY 276,983 276,983
PAID
12/11/2020 As above Purchase $ 59,682.79 ORDINARY FULLY 15,560 15,560
PAID
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12/11/2020 As above Purchase $ 7,632.90 ORDINARY FULLY 1,982 1,982
PAID
12/11/2020 As above Purchase $ 716,315.43 ORDINARY FULLY 186,476 186,476
PAID
12/11/2020 As above Purchase $ 40,182.31 ORDINARY FULLY 10,476 10,476
PAID
12/11/2020 As above Purchase $ 5,137.00 ORDINARY FULLY 1,334 1,334
PAID
12/11/2020 As above Purchase $ 2,584.45 ORDINARY FULLY 671 671
PAID
12/11/2020 As above Purchase $ 20,198.56 ORDINARY FULLY 5,266 5,266
PAID
12/11/2020 As above Purchase $ 360,105.28 ORDINARY FULLY 93,745 93,745
PAID
12/11/2020 As above Purchase $ 96,955.11 ORDINARY FULLY 25,240 25,240
PAID
12/11/2020 As above Purchase $ 5,438.96 ORDINARY FULLY 1,418 1,418
PAID
12/11/2020 As above In-specie transfer in $ 696.85 ORDINARY FULLY 181 181
PAID
12/11/2020 As above Purchase $ 691,888.43 ORDINARY FULLY 180,117 180,117
PAID
12/11/2020 As above Purchase $ 38,809.15 ORDINARY FULLY 10,118 10,118
PAID
12/11/2020 As above Purchase $ 4,963.75 ORDINARY FULLY 1,289 1,289
PAID
12/11/2020 As above Purchase $ 1,065,630.41 ORDINARY FULLY 277,412 277,412
PAID
12/11/2020 As above Purchase $ 59,774.84 ORDINARY FULLY 15,584 15,584
PAID
12/11/2020 As above Purchase $ 7,644.45 ORDINARY FULLY 1,985 1,985
PAID
12/11/2020 As above Purchase $ 1,425,585.88 ORDINARY FULLY 371,118 371,118
PAID
12/11/2020 As above Purchase $ 79,965.73 ORDINARY FULLY 20,848 20,848
PAID
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12/11/2020 As above Purchase $ 10,228.90 ORDINARY FULLY 2,656 2,656
PAID
12/11/2020 As above Purchase $ 2,834.70 ORDINARY FULLY 736 736
PAID
12/11/2020 As above Purchase $ 22,150.91 ORDINARY FULLY 5,775 5,775
PAID
12/11/2020 As above Purchase $ 394,873.12 ORDINARY FULLY 102,796 102,796
PAID
12/11/2020 As above Purchase $ 658,319.07 ORDINARY FULLY 171,378 171,378
PAID
12/11/2020 As above Purchase $ 36,929.68 ORDINARY FULLY 9,628 9,628
PAID
12/11/2020 As above Purchase $ 4,721.20 ORDINARY FULLY 1,226 1,226
PAID
12/11/2020 As above Purchase $ 196,614.52 ORDINARY FULLY 51,184 51,184
PAID
12/11/2020 As above Purchase $ 11,027.52 ORDINARY FULLY 2,875 2,875
PAID
12/11/2020 As above In-specie transfer in $ 1,409.10 ORDINARY FULLY 366 366
PAID
12/11/2020 As above Purchase $ 126,479.56 ORDINARY FULLY 32,926 32,926
PAID
12/11/2020 As above Purchase $ 7,095.96 ORDINARY FULLY 1,850 1,850
PAID
12/11/2020 As above In-specie transfer in $ 908.60 ORDINARY FULLY 236 236
PAID
13/11/2020 As above Purchase $ 137,026.07 ORDINARY FULLY 34,633 34,633
PAID
13/11/2020 As above Purchase $ 213,007.03 ORDINARY FULLY 53,837 53,837
PAID
13/11/2020 As above Purchase $ 713,221.63 ORDINARY FULLY 180,265 180,265
PAID
13/11/2020 As above Purchase $ 427,802.42 ORDINARY FULLY 108,126 108,126
PAID
13/11/2020 As above Purchase $ 1,544,474.08 ORDINARY FULLY 390,362 390,362
PAID
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13/11/2020 As above Purchase $ 1,154,499.94 ORDINARY FULLY 291,797 291,797
PAID
13/11/2020 As above Purchase $ 749,589.93 ORDINARY FULLY 189,457 189,457
PAID
13/11/2020 As above Purchase $ 105,041.58 ORDINARY FULLY 26,549 26,549
PAID
13/11/2020 As above Purchase $ 390,136.36 ORDINARY FULLY 98,606 98,606
PAID
13/11/2020 As above Purchase $ 776,051.13 ORDINARY FULLY 196,145 196,145
PAID
13/11/2020 As above Purchase $ 1,152,711.59 ORDINARY FULLY 291,345 291,345
PAID
13/11/2020 As above Purchase $ 194,660.66 ORDINARY FULLY 49,200 49,200
PAID
13/11/2020 As above Purchase $ 925,093.14 ORDINARY FULLY 233,815 233,815
PAID
13/11/2020 As above Purchase $ 575,218.30 ORDINARY FULLY 145,385 145,385
PAID
13/11/2020 As above Purchase $ 272,916.62 ORDINARY FULLY 68,979 68,979
PAID
13/11/2020 As above Purchase $ 1,435,531.38 ORDINARY FULLY 362,827 362,827
PAID
13/11/2020 As above Purchase $ 469,527.84 ORDINARY FULLY 118,672 118,672
PAID
26/11/2020 As above Sale -$ 292,606.00 ORDINARY FULLY - 71,100 - 71,100
PAID
8/12/2020 As above Purchase $ 185,697.61 ORDINARY FULLY 42,771 42,771
PAID
14/12/2020 As above In-specie transfer in $ 291,024.00 ORDINARY FULLY 68,800 68,800
PAID
14/12/2020 As above In-specie transfer out -$ 291,024.00 ORDINARY FULLY - 68,800 - 68,800
PAID
17/12/2020 As above In-specie transfer out -$ 165,600.00 ORDINARY FULLY - 40,000 - 40,000
PAID
17/12/2020 As above Purchase $ 75,368.72 ORDINARY FULLY 18,200 18,200
PAID
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17/12/2020 As above In-specie transfer in $ 165,600.00 ORDINARY FULLY 40,000 40,000
PAID
21/12/2020 As above Purchase $ 394,574.13 ORDINARY FULLY 91,500 91,500
PAID
11/01/2021 As above Purchase $ 110,453.27 ORDINARY FULLY 27,222 27,222
PAID
11/01/2021 As above Purchase $ 150,504.85 ORDINARY FULLY 37,093 37,093
PAID
11/01/2021 As above Purchase $ 903,889.28 ORDINARY FULLY 222,770 222,770
PAID
11/01/2021 As above Purchase $ 19,808.72 ORDINARY FULLY 4,882 4,882
PAID
12/01/2021 As above Purchase $ 221,824.94 ORDINARY FULLY 53,858 53,858
PAID
12/01/2021 As above Purchase $ 190,326.15 ORDINARY FULLY 46,620 46,620
PAID
12/01/2021 As above Purchase $ 302,250.80 ORDINARY FULLY 73,385 73,385
PAID
12/01/2021 As above Purchase $ 259,328.57 ORDINARY FULLY 63,522 63,522
PAID
12/01/2021 As above Purchase $ 148,941.85 ORDINARY FULLY 36,483 36,483
PAID
12/01/2021 As above Purchase $ 1,557,465.59 ORDINARY FULLY 381,498 381,498
PAID
12/01/2021 As above Purchase $ 39,778.40 ORDINARY FULLY 9,658 9,658
PAID
12/01/2021 As above Purchase $ 34,129.70 ORDINARY FULLY 8,360 8,360
PAID
13/01/2021 As above Purchase $ 1,815,242.89 ORDINARY FULLY 440,732 440,732
PAID
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This is Annexure "B" as mentioned in form 604 Notice of change of interests of substantial holder

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Alex Ihlenfeldt

Company Secretary Date: 14/01/2021

`

NUFARM LTD

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Annexure C
Holder of relevant interest Registered holder of securities Person entitled to be Number of Class of Person's votes
registered as holder securities securities
Firetrail Investments BNP Paribas Securities Services BNP Paribas Securities 4,153,435 Ordinary fully paid 4,153,435
Services
Firetrail Investments NAB Custodial Services NAB Custodial Services 9,336,432 Ordinary fully paid 9,336,432
Firetrail Investments JP Morgan Chase Bank JP Morgan Chase Bank 637,859 Ordinary fully paid 637,859
Firetrail Investments Citibank Citibank 3,599,465 Ordinary fully paid 3,599,465
Firetrail Investments RBC Investor Services Trust RBC Investor Services Trust 5,111,084 Ordinary fully paid 5,111,084
Firetrail Investments State Street State Street 5,023,259 Ordinary fully paid 5,023,259
Firetrail Investments Northern Trust Northern Trust 2,380,265 Ordinary fully paid 2,380,265
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This is Annexure "C" of 1 page as mentioned in form 604 Notice of change of interests of substantial holder

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Alex Ihlenfeldt Company Secretary Date: 14/01/2021

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NUFARM LTD
Annexure D
Name Address
Firetrail Investments Level 19, 307 Queen St, Brisbane QLD 4000, Australia
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This is Annexure "D" as mentioned in form 604 Notice of change of interests of substantial holder

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Alex Ihlenfeldt Company Secretary Date: 14/01/2021