PEET LIMITED — Major Shareholding Notification 2016

Sep 5, 2016

Form 605Corporations Act 2001Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme	PEET LIMITED
ACN/ARSN	008 665 834
1. Details of substantial holder (1)
Name		Morgan Stanley and its subsidiaries listed in Annexure A
ACN/ARSN (if applicable)	Not Applicable
The holder ceased to be a
substantial holder on		September 1, 2016
The previous notice was given to the company on		August 31, 2016
The previous notice was dated		August 26, 2016
The holder became aware on		September 5, 2016

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company orscheme, since the substantial holder was last required

Date ofchange	Person whose relevant interest changed	Nature of change(6)	Consideration givenin relation to change(7)	Class and number ofSecurities affected	Person'svotes affected
8/29/2016	Morgan Stanley Australia Securities Limited	Sell	2.00	-2 Ordinary Shares	$-2$
8/29/2016	Morgan Stanley Australia Securities Limited	Buy	297.00	300 Ordinary Shares	300
8/30/2016	Morgan Stanley Australia Securities Limited	Sell	263.61	-261 Ordinary Shares	$-261$
8/30/2016	Morgan Stanley Australia Securities Limited	Sell	1.047.42	-1,012 Ordinary Shares	$-1.012$
8/30/2016	Morgan Stanley Australia Securities Limited	Sell	2,706.06	-2,653 Ordinary Shares	$-2,653$
8/30/2016	Morgan Stanley Australia Securities Limited	Sell	100.88	-97 Ordinary Shares	$-97$
8/30/2016	Morgan Stanley Australia Securities Limited	Sell	641.00	-641 Ordinary Shares	$-641$
8/30/2016	Morgan Stanley Australia Securities Limited	Sell	326.40	-320 Ordinary Shares	$-320$
8/30/2016	Morgan Stanley Australia Securities Limited	Seil	701.95	-695 Ordinary Shares	$-695$
8/30/2016	Morgan Stanley Australia Securities Limited	Sell	25.63	-25 Ordinary Shares	$-25$
8/30/2016	Morgan Stanley Australia Securities Limited	Sell	410.00	-400 Ordinary Shares	-400
8/30/2016	Morgan Stanley Australia Securities Limited	Seil	772.85	-769 Ordinary Shares	$-769$
8/30/2016	Morgan Stanley Australia Securities Limited	Sell	2.229.38	-2,175 Ordinary Shares	$-2.175$
8/30/2016	Morgan Stanley Australia Securities Limited	Sell	37.56	-37 Ordinary Shares	$-37$
8/30/2016	Morgan Stanley Australia Securities Limited	Sell	1,889.00	-1,889 Ordinary Shares	$-1.889$
8/30/2016	Morgan Stanley Australia Securities Limited	Sell	2,720.20	-2,680 Ordinary Shares	$-2,680$
8/30/2016	Morgan Stanley Australia Securities Limited	Sell	697.31	-677 Ordinary Shares	-677
8/30/2016	Morgan Stanley Australia Securities Limited	Sell	3.047.17	-3,017 Ordinary Shares	$-3.017$
8/30/2016	Morgan Stanley Australia Securities Limited	Sell	415.14	-407 Ordinary Shares	-407

$\mathbf{1}$

8/30/2016	Morgan Stanley Australia Securities Limited	Buy	264.62	262 Ordinary Shares	262
8/30/2016	Morgan Stanley Australia Securities Limited	Buy	18.18	18 Ordinary Shares	18
8/30/2016	Morgan Stanley Australia Securities Limited	Buy	922.50	900 Ordinary Shares	900
8/30/2016	Morgan Stanley Australia Securities Limited	Buy	43.11	43 Ordinary Shares	43
8/30/2016	Morgan Stanley Australia Securities Limited	Buy	220.50	211 Ordinary Shares	211
8/30/2016	Morgan Stanley Australia Securities Limited	Buy	111.65	110 Ordinary Shares	110
8/30/2016	Morgan Stanley Australia Securities Limited	Buy	137.69	137 Ordinary Shares	137
8/30/2016	Morgan Stanley Australia Securities Limited	Buy	404.56	389 Ordinary Shares	389
8/31/2016	Morgan Stanley Australia Securities Limited	Sell	4 361.94	-4,406 Ordinary Shares	-4,406
8/31/2016	Morgan Stanley Australia Securities Limited	Sell	755.21	-759 Ordinary Shares	$-759$
8/31/2016	Morgan Stanley Australia Securities Limited	Sell	776.00	-776 Ordinary Shares	$-776$
8/31/2016	Morgan Stanley Australia Securities Limited	Sell	2.939.23	-2,954 Ordinary Shares	-2,954
8/31/2016	Morgan Stanley Australia Securities Limited	Buy	15.76	16 Ordinary Shares	16
8/31/2016	Morgan Stanley Australia Securities Limited	Buy	271.35	270 Ordinary Shares	270
8/31/2016	Morgan Stanley Australia Securities Limited	Buy	398.00	400 Ordinary Shares	400
8/31/2016	Morgan Stanley Australia Securities Limited	Buy	90.90	90 Ordinary Shares	90
$8/31/2016$ .	Morgan Stanley Australia Securities Limited	Buy.	181.80	180 Ordinary Shares	180
8/31/2016	Morgan Stanley Australia Securities Limited	Buy.	346.26	348 Ordinary Shares	348
8/31/2016	Morgan Stanley Australia Securities Limited	Buy.	439.00	439 Ordinary Shares	439
8/31/2016	Morgan Stanley Australia Securities Limited	Buy	137.00	137 Ordinary Shares	137
8/31/2016	Morgan Stanley Australia Securities Limited	Buy	257.40	260 Ordinary Shares	260
8/31/2016	Morgan Stanley Australia Securities Limited	Buy	175.12	176 Ordinary Shares	176
9/1/2016	Morgan Stanley Australia Securities Limited	Sell	3,215.00	-3,215 Ordinary Shares	$-3,215$
9/1/2016	Morgan Stanley Australia Securities Limited	Sell	922.50	-900 Ordinary Shares	-900
9/1/2016	Morgan Stanley Australia Securities Limited	Sell	359.79	-358 Ordinary Shares	-358
9/1/2016	Morgan Stanley Australia Securities Limited	Sell	264.62	-262 Ordinary Shares	-262
9/1/2016	Morgan Stanley Australia Securities Limited	Sell	111.65	-110 Ordinary Shares	-110
9/1/2016	Morgan Stanley Australia Securities Limited	Sell	220.50	-211 Ordinary Shares	-211
9/1/2016	Morgan Stanley Australia Securities Limited	Sell	29,786.50	-29,060 Ordinary Shares	-29,060
9/1/2016	Morgan Stanley Australia Securities Limited	Buy.	84.58	85 Ordinary Shares	85
9/1/2016	Morgan Stanley & Co. International plc	Collateral Returned	N/A	-18,355,117 Ordinary Shares	$-18,355,117$₭

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) 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
Not applicable	Not applicable

4. Addresses

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

Name	Address
Morgan Stanley	1585 Broadway, New York 10036, USA
Morgan Stanley & Co. International plc	25 Cabot Square, Canary Wharf, London E14 4QA, United Kingdom
Morgan Stanley Australia Securities Limited	Level 39 Chifley Tower, 2 Chifley Square, Sydney NSW 2000, Australia

Signature

	print name Annie Gong	capacity	Executive Director
sign here	л.	date	September 6, 2016

Annexure A

List of Morgan Stanley and its subsidiaries that have a relevant interest or deemed to have a relevant interest in the shares or units.

Name
-Morgan Stanley
-Morgan Stanley International Holdings Inc.
- Morgan Stanley International Limited
- Morgan Stanley UK Group
- Morgan Stanley Investments (UK)
Morgan Stanley & Co. International plc
Morgan Stanley International Incorporated
Morgan Stanley (Australia) Securities Holdings Pty Limited
--Morgan Stanley Australia Securities Limited

Signature

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 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 they may be referred to throughout the form. If the relevant interests of a is clearly set out in paragraph 4 of the form.

See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(2)$

See the definition of "associate" in section 9 of the Corporations Act 2001. $(3)$

$(4)$ Include details of:

• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy $(a)$ 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 stat
• 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 thesecurities to which the relevant interest relates (indicating clearly the $(b)$

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Details of the consideration must include any and all benefits, moneys and other, that any person from whom a relevant interest was acquired has, ormay, become entitled to receive in relation to that acquisition. Details $(5)$ 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 intere
• The voting shares of a company constitute one class unless divided into separate classes. $(6)$
• $(7)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

GUIDE

This guide does not form part of the prescribed formand is included by ASIC to assist you in completing and lodging form 605.

Signature	This form must be signed by either a director or a secretary of the substantial holder.
Lodging period	Nil
Lodging Fee	Nil
Other forms to becompleted	Nil
Additional information	(a)		If additional space is required to complete a question, the information may be included on a separate piece ofpaper annexed to the form.
	(b)		This notice must be given to a listed company, or the responsible entity for a listed managed investment scheme.A copy of this notice must also be given to each relevant securities exchange.
	(c)		The person must give a copy of this notice:
		(i)	within 2 business days after they become aware of the information; or
		(i)	by 9.30 am on the next trading day of the relevant securities exchange after they become aware of theinformation if:
			(A)a takeover bid is made for voting shares in the company or voting interests in the scheme; and
			(B)the person becomes aware of the information during the bid period.
Annexures			To make any annexure conform to the regulations, you must1 use A4 size paper of white or light pastel colour with a margin of at least 10mm on all sides
			2 show the corporation name and ACN or ARBN
			3 number the pages consecutively
			4 print or type in BLOCK letters in dark blue or black ink so that the document is clearly legible when photocopied
			5 identify the annexure with a mark such as A, B, C, etc
	6.		endorse the annexure with the words:This is annexure (mark) of (number) pages referred to in form (form number and title)
	7.		sign and date the annexure.
			The annexure must be signed by the same person(s) who signed the form.

Information in this guide is intended as a guide only. Please consult your accountant or solicitor for further advice.

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$\frac{1}{2}$ . The $\frac{1}{2}$

$\mathcal{L}^{\mathcal{L}}(\mathcal{A})$ .

Annexure B

This is Annexure B referred to in the Form 605: Notice of ceasing to be a substantial holder issued by Morgan Stanley and its subsidiaries. The following is description of the securities lending agreements referenced in the accompanying Form 605.

Schedule
Type of Agreement	International Prime Brokerage Agreement
Parties to agreement	Morgan Stanley & Co. International pic for itself and as agent and
	trustee for and on behalf of the other Morgan Stanley Companies andTHE TRUSTEE FOR TRIBECA GLOBAL TOTAL RETURN FUND
Transfer Date	20160804; 20160823;
Holder of Voting Rights	If prime broker has settled a short sale for the client, voting rights will
	pass to the purchaser of the securities.
Are there any restrictions on voting rights?	Yes/ No
If yes, detail Not applicable
Scheduled Return Date (if any)	Open
Does the borrower have the right to return early?	Yes /No
If yes, detail At any time the client may return to the prime broker shares which the client previously sold short.
Does the lender have the right to recall early?	Yes /No
If yes, detail The prime broker may require the client to return shares delivered on behalf of the client at any time.
Will the securities be returned on settlement?Yes /No
	If yes, detail any exceptions Upon an Event of Default, the default market value of all Equivalent Securities to be delivered will be determined and
	on the basis of the amounts so established, an account shall be taken of what is due from each party to the other. The amounts due from one
party shall be set off against the amounts due from the other party and only the balance of the account shall be nayable

Schedule
Type of Agreement	Global Master Repurchase Agreement
Parties to agreement	Morgan Stanley & Co. International plc and DEKABANK DEUTSCHE
	GIROZENTRALE
Transfer Date	20160822; 20160823; 20160824; 20160825; 20160826; 20160829;
	20160830; 20160831; 20160901;
Holder of Voting Rights	Buyer in relation to Purchased Securities and the transferee in the case
	of Margin Securities.
Are there any restrictions on voting rights?	Yes /No
If yes, detail Buyer, in the case of Purchased Securities, and transferee, in the case of Margin Securities, shall use its best endeavours to arrange
for voting rights of that kind to be exercised in relation to the relevant number of securities of that kind in accordance with the instructions of the
other party provided that it holds such Securities and the other party shall have notified Buyer or transferee, as the case may be, of its instructions
no later than seven Business Days prior to the date the votes are exercisable.
Scheduled Return Date (if any)	Open
Does the borrower have the right to return early?	Yes /No
If yes, detail Either party may terminate on demand Transactions on notice of not less than the minimum period as is customarily required for the
settlement or delivery of the Equivalent Securities. If Seller requests and Buyer agrees, Transaction may be varied such that Buyer transfers
Securities equivalent to the Purchased Securities to the Seller in exchange for the transfer of other securities as agreed.
Does the lender have the right to recall early?Yes /No
If yes, detail Either party may terminate on demand Transactions on notice of not less than the minimum period as is customarily required for the
settlement or delivery of the Equivalent Securities.
Will the securities be returned on settlement?	Yes /No
If yes, detail any exceptions If an Event of Default occurs with respect to either party, the Parties' obligation to deliver Equivalent Securities and
Equivalent Margin Securities will cease. The Non-defaulting party will calculate the Default Market Value of Equivalent Securities and Equivalent
Margin Securities, set off the sums due from one party to another, and only the balance of the account shall be payable.

$\mathbf 1$

Schedule
Type of Agreement	Global Master Securities Lending Agreement
Parties to agreement	Morgan Stanley & Co. International plc and THE BANK OF NEW YORK
	MELLON TRUST (JAPAN), LTD.
Transfer Date	20160822; 20160823; 20160824; 20160825; 20160826; 20160829;
	20160830; 20160831; 20160901;
Holder of Voting Rights	Borrower
Are there any restrictions on voting rights?	Yes/ No
If yes, detail Not applicable
Scheduled Return Date (if any)	Open
Does the borrower have the right to return early?	Yes ANO
If yes, detail The Borrower is entitled at any time to terminate a Loan and to redeliver all and any Equivalent Securities due and outstanding to the
Lender in accordance with the Lender's instructions.
Does the lender have the right to recall early?	Yes Ale
If yes, detail The Lender is entitled to terminate a Loan and to call for the redelivery of all or any Equivalent Securities at any time by giving notice
on any Business Day of not less than the standard settlement time for such Equivalent Securities on the exchange or in the clearing organisation
through which the Loaned Securities were originally delivered.
Will the securities be returned on settlement?	Yes /No
If yes, detail any exceptions If the Borrower does not redeliver Equivalent Securities in accordance with the Agreement, the Lender may by
written notice to Borrower terminate the Loan forthwith and the Parties' delivery and payment obligations in respect thereof.

Schedule
Type of Agreement	Global Master Repurchase Agreement
Parties to agreement	Morgan Stanley & Co. International plc and LYB FINANCE COMPANY BV
Transfer Date	20160701; 20160704; 20160705; 20160706; 20160707; 20160708;
	20160711; 20160712; 20160713; 20160714; 20160715; 20160718;
	20160719; 20160720; 20160721; 20160722; 20160725; 20160726;
	20160727; 20160728; 20160729; 20160801; 20160802; 20160803;
	20160804; 20160805; 20160808; 20160809; 20160810; 20160811;
	20160812; 20160815; 20160816; 20160817; 20160818; 20160819;
	20160822; 20160823; 20160824; 20160825; 20160826; 20160829;
	20160830: 20160831: 20160901:
Holder of Voting Rights	Buyer in relation to Purchased Securities and the transferee in the case
	of Margin Securities.
Are there any restrictions on voting rights?	Yes ANO

If yes, detail Buyer, in the case of Purchased Securities, and transferee, in the case of Margin Securities, shall use its best endeavours to arrange for voting rights of that kind to be exercised in relation to the relevant number of securities of that kind in accordance with the instructions of the other party provided that it holds such Securities and the other party shall have notified Buyer or transferee, as the case may be, of its instructions no later than seven Business Days prior to the date the votes are exercisable.

Scheduled Return Date (if any)	Open
Does the borrower have the right to return early?	Yes /Nc
$-$..	..

If yes, detail Either party may terminate on demand Transactions on notice of not less than the minimum period as is customarily required for the settlement or delivery of the Equivalent Securities. If Seller requests and Buyer agrees, Transaction may be varied such that Buyer transfers Securities equivalent to the Purchased Securities to the Seller in exchange for the transfer of other securities as agreed.

Does the lender have the right to recall early?	Yes /No
Either party may terminate on demand Transactions on notice of not less than the minimum period as is customarily required for theIf ves. detail
settlement or delivery of the Equivalent Securities.
Will the securities be returned on settlement?	Yes /No
If yes, detail any exceptions If an Event of Default occurs with respect to either party, the Parties' obligation to deliver Equivalent Securities and
Equivalent Margin Securities will cease. The Non-defaulting party will calculate the Default Market Value of Equivalent Securities and Equivalent
Margin Securities, set off the sums due from one party to another, and only the balance of the account shall be payable.

The above schedules are based on the relevant standard agreements. The entity filing the report will, if requested by the company or responsible entity to whom the prescribed form must be given or ASIC, give a copy of the agreement to the company, responsible entity or ASIC.

Signature

print name Annie Gong	capacity	Executive Director
sign here	date	September 6, 2016

$\mathcal{L}^{\text{max}}{\text{max}}$ and $\mathcal{L}^{\text{max}}{\text{max}}$

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