PEET LIMITED — Major Shareholding Notification 2021

May 25, 2021

Form 603

Corporations Act 2001

Section 671B

Notice of initial substantial holder

To Company Name/Scheme	Peet Ltd
ACN/ARSN	008 665 834
1. Details of substantial holder (1)
Name	First Sentier Investors Holdings Pty Limited ACN 630 725 558 and its related bodies corporate listed in annexure A
ACN/ARSN (if applicable)	630 725 558
The holder became a substantial holder on	24/05/2021

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	24,319,471	24,319,471	5.03%

*Note these securities are comprised of 9,867,823 shares in which First Sentier Investors Holdings Pty Limited and its subsidiaries have voting power and 14,451,648 securities in which First Sentier Investors Holdings Pty Limited's ultimate parent, Mitsubishi UFJ Financial Group, Inc. on and from 2 August 2019, 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 LtdACN 133 312 017	Relevant interest under paragraph 608(1)(b) and/or 608(1)(c) of theCorporations Act 2001 (Cth), being a relevant interest arising from havingthe power to control the exercise of the right to vote attached to securitiesand/or to control the exercise of the power to dispose of securities in itscapacity as investment manager, as provided for under its investmentmandates. In addition, if any OTC derivatives, warrants or other securities(other than ordinary shares or ordinary units (as applicable)) are referred tobelow in this row, the relevant interest in respect of those securities arisesunder subsection 608(8) being an accelerated relevant interest held in thesame capacity.	Fully Paid ordinary shares3,546,408
First Sentier Investors (Australia) IM LtdACN 114 194 311	Relevant interest under paragraph 608(1)(b) and/or 608(1)(c) of theCorporations Act 2001 (Cth), being a relevant interest arising from havingthe power to control the exercise of the right to vote attached to securitiesand/or to control the exercise of the power to dispose of securities in itscapacity as investment manager, as provided for under its investmentmandates. In addition, if any OTC derivatives, warrants or other securities(other than ordinary shares or ordinary units (as applicable)) are referred tobelow in this row, the relevant interest in respect of those securities arisesunder subsection 608(8) being an accelerated relevant interest held in thesame capacity.	Fully Paid ordinary shares6,321,415
Mitsubishi UFJ Financial Group	Mitsubishi UFJ Financial Group Inc. (MUFG) owns 100% of First SentierInvestors Holdings Pty Limited (indirectly) and has informed First SentierInvestors Holdings Pty Limited that it has a relevant interest in the sharesnoted in this column. Accordingly, First Sentier Investors Holdings PtyLimited has a relevant interest or voting power in those shares pursuant tosection 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 holderinformation is recorded in Section 4. Reference is made to any subsequentfiling of MUFG which will reflect this interest.	Fully Paid ordinary shares14,451,648

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 relevantinterest	Registered holder ofsecurities	Person entitled to beregistered as holder (8)	Class and number of securities
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	Citibank N A Hong Kong		2,861,738 Fully Paid ordinaryshares
First Sentier Investors Realindex Pty Ltd ACN 133 312 017	National Custodian Services		684,670 Fully Paid ordinaryshares
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	Citicorp Nominees Pty Limited(Australia)		6,321,415 Fully Paid ordinaryshares
Mitsubishi UFJ Financial Group	Mitsubishi UFJ Financial Group		14,451,648 Fully Paid ordinaryshares

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 relevantinterest	Date of acquisition	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	A wholly-owned subsidiary, and therefore related body corporate, of First Sentier Investors
ACN 133 312 017	Holdings Pty Limited
First Sentier Investors (Australia) IM Ltd	A wholly-owned subsidiary, and therefore related body corporate, of First Sentier Investors
ACN 114 194 311	Holdings Pty Limited
Mitsubishi UFJ Financial Group	Each company referred to is an associate of Mitsubishi UFJ Financial Group, Inc. under section12 of the Corporations Act

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 NSW2000, Australia
First Sentier Investors (Australia) IM Ltd ACN 114 194 311	Level 5, Tower Three International Towers Sydney, 300 Barangaroo Avenue, Barangaroo NSW2000, Australia
Mitsubishi UFJ Financial Group	2-7-1, Marunouchi, Chiyoda-ku, Tokyo 100-8330, Japan

Signature

Rachel Lim

print name capacity

Company Secretary

sign here date 26/05/2021

Annexure A

This is Annexure A referred to in Form 603, Notice of initial substantial holder dated 24/05/2021

Rachel Lim

Company Secretary

Dated the 26/05/2021

SCHEDULE

Mitsubishi UFJ Financial Group, Inc (Registration No. 0100-01-073486) First Sentier Investors (Singapore) (COMPANY NO. 196900420D) First Sentier Investors Strategic Investments Pty Limited (ACN 625 765 399) First Sentier Investors International IM Limited (Company No. SC079063) First Sentier Investors Asia Holdings Limited (ACN 054 571 701) SI Holdings Limited (Company No. SC109439) First Sentier Investors (Hong Kong) Limited (CR No. 0206616) First Sentier Investors (Australia) Services Pty Limited (ACN 624 305 595) First Sentier Investors (Ireland) Limited (Company No. 629188) First Sentier Investors (Luxembourg) EDIF I Feeders MC S.A.R.L (Company No. B134314) First Sentier Investors Realindex Pty Ltd (ACN 133 312 017) FSIB LTD (Registration No. 26193) First Sentier Investors Europe Holdings Limited (Company No. 03904310) First Sentier Investors (US) LLC (File Number 546 9442) Mitsubishi UFJ Trust and Banking Corporation (Registration No. 0100-01-008770) First Sentier Investors (Hong Kong) Nominees Limited (CR NO. 0206615) First Sentier Investors (Hong Kong) AMC Limited (CR NO. 0580652) First Sentier Investors (Japan) Limited (Company No. 0104-01-093090) First Sentier Investors (Luxembourg) EDIF I MC S.A.R.L (Company No. B128117) First Sentier Investors (UK) Services Limited (Company No. 03904320) First Sentier Investors (Australia) Infrastructure Managers Pty Ltd (ACN 101 384 294) CFSIM (Company No. 00153197) First Sentier Investors (Australia) IM Ltd (ACN 114 194 311) First Sentier Investors (UK) IM Limited (Company No. SC047708) First Sentier Investors (Luxembourg) EDIF II GP S.Á.R.L (Company No. B204413) First Sentier Investors (Malta) Limited (Company Code C41267) First Sentier Investors (Singapore) Holdings Limited (Registration No. 199901706Z) First Sentier Infrastructure Managers (International) Limited (Company No. 298444) First Sentier Investors (Australia) RE Ltd (ACN 006 464 428) First Sentier Investors (Australia) Infrastructure Holdings Ltd (ACN 085 313 926) First Sentier Investors (UK) Funds Limited (Company No. 02294743) First Sentier Investors (Malta) Holdings Limited (Company Code C41260)

Annexure B

This is Annexure B referred to in Form 603, Notice of initial substantial holder dated 24/05/2021

Rachel Lim

Company Secretary

Dated the 26/05/2021

Holder of relevant Interest	Date of Acquisition	Consideration Cash	Consideration non-cash	Class and number of securities affected