PEET LIMITED — Major Shareholding Notification 2020

Mar 30, 2020

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/ Scheme	PEET LIMITED
ACN/ ARSN	008 665 834
1. Details of substantial holder (1)
Name	L1 Capital PtyLtd
ACN/ ARSN (if applicable)	21 125 378 145
There was a change in the interests of the substantial holder on		27/03/2020
The previous notice was given to the company on		11/03/2020
The previous notice was dated		11/03/2020

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:

	Number of securities	Number of securities		Person's votes(5)
Class of securities(4)	Person's votes	Voting power(5)	Person's votes	Voting power(5)
FPO	57,320,923	11.86%	67,316,177	13.93%

*Based on issued capital of 483,300,489 shares

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	Person whose relevant interest		Consideration given in	Class and number of
change	changed	Nature of change(6)	relation to change(7)	securities affected	Person's votes affected
		9,995,254		9,995,254	9,995,254
27/03/2020	L1 Capital Pty Ltd

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		Person entitled to be		Class and number of
interest	Registered Holder of securities	registered as holder(8)	Nature of relevant interest	securities	Person's votes
See
Schedule 1

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:

5. Changes in asThe persons whointerests in the co	5. Changes in asThe persons whointerests in the co	5. Changes in asThe persons whointerests in the co	sociationhave become associates (2)mpany or scheme are as foll	sociationhave become associates (2)mpany or scheme are as foll	of, ceased toows:	be associates of, or have ch	be associates of, or have ch	anged the nat	ure of their association (9) wi	th, the substa	ntial holder in relation to votin	g	g
	6. Addresse		Name a	nd ACN/ ARSN(if a	pplicable)				Nature of association
		N/A
		s
	The address	es of	persons	named in this form	are as follows:
				Name					Address
				L1 Capital PtyLtd				Level 2	8,101 Collins Street,Melbou	rne,VIC,300	0
	Signature	P	t		k Ld	Cit			Dit
		r	n name		ar anau	apacy			recor
		Sign here		Date				31/03/2020

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".

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

Schedule 1 - L1 Capital Pty Ltd change in substantial holding for PEET LIMITED Details of relevant interests

Holder of relevant interest	Nature of relevant interest	Class and number of securities
L1 Capital Pty Ltd	Power to (or to control) exercise vote and/or dispose ofthe securities as discretionary investment managers oradvisers of superannuation funds, pooledsuperannuation trusts, managed investment schemesand investment management agreements.	Fully paid ordinary shares67,316,177

Details of present registered holders

Holder of relevant interest	Registered holder of securities	Persons entitled to be a registered holder	Class and number ofsecurities	Class and number ofsecurities
L1 Capital Pty Ltd	National Nominees Ltd	National Nominees Ltd	8,830,290FPO
L1 Capital Pty Ltd	State Street Australia Limited	State Street Australia Limited	2,381,356FPO
L1 Capital Pty Ltd	Credit Suisse	Credit Suisse	42,360,599FPO
L1 Capital Pty Ltd	Citigroup Nominees	Citigroup Nominees	6,380,632FPO
L1 Capital Pty Ltd	Morgan Stanley	Morgan Stanley	5,194,806FPO
L1 Capital Pty Ltd	Northern Trust	Northern Trust	2,168,494FPO
			67,316,177