PEET LIMITED — Major Shareholding Notification 2021

May 10, 2021

Form605

Form 605

Corporations Act 2001

Section 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

Name: Mitsubishi UFJ Financial Group, Inc.

The holder ceased to be a substantial holder on: 06/05/2021 The previous notice was given to the company on: 10/05/2021 The previous notice was dated: 10/05/2021 The holder became aware on: 10/05/2021

2. 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:

Person whose Class and Date of Consideration given in Person's votes relevant interest Nature of change number of change relation to change affected changed securities affected See annexure A to this notice

3. Changes in association

The persons who have become associates of, ceased to be associates of, or have changed the nature of their association 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
Mitsubishi UFJ Financial Group, Inc.	2-7-1, Marunouchi, Chiyoda-ku, Tokyo 100-8330, Japan

5. Signature

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Dated 11 May 2021
Kenji Takase Authorised signatory
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Page 1

AnnexureA

Annexure A

This is annexure A of 1 page referred to in Form 605, Notice of ceasing to be a substantial holder dated 11 May 2021

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Kenji Takase Authorised signatory Dated 11 May 2021

Date of change	Person whose relevant interest changed	Nature of change	Consideration given in relation to change	Class and number of securities affected	Person's votes affected
6/05/2021	Mitsubishi UFJ Financial Group, Inc.	Sale of securities by an entity controlled by Morgan Stanley	580.72	476 Ordinary Shares	476
6/05/2021	Mitsubishi UFJ Financial Group, Inc.	Collateral returned by an entity controlled by Morgan Stanley - see Annexure B	N/A	20,488,469 Ordinary Shares	20,488,469

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AnnexureB

Annexure B

This is annexure B of 3 pages referred to in Form 605, Notice of ceasing to be a substantial holder dated 11 May 2021

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Kenji Takase

Authorised signatory

Dated 11 May 2021

The below 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.

Schedule	Schedule
Type of Agreement	International Prime Brokerage Agreement
Parties to agreement	Morgan Stanley & Co. International plc for itself and as agent and trustee for and on behalf of the other Morgan Stanley Companies and EQUITY TRUSTEES LIMITED AS TRUSTEE FOR L1 CAPITAL LONG SHORT FUND
Transfer Date	20210506;
Holder of Voting Rights	Prime broker has the right to vote securities rehypothecated from the Client.
Are there any restrictions on voting rights?	~~Yes/~~ ~~N~~o
Ifyes, detailNot applicable
Scheduled Return Date (if any)	Open
Does the borrower have the right to return early?	Yes~~/No~~
If yes, detailPrime broker may return shares which were rehypothecated from the client at any time.
Does the lender have the right to recall early?	Yes~~/No~~
If yes, detailPrime broker will be required to return to the client shares rehypothecated from the client's account upon a sale of those shares by the client.
Will the securities be returned on settlement?	Yes~~/No~~
If yes, detail any exceptionsUpon 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 payable.
Schedule
Type of Agreement	International Prime Brokerage Agreement
Parties to agreement	Morgan Stanley & Co. International plc for itself and as agent and trustee for and on behalf of the other Morgan StanleyCompanies and CERES CAPITAL PTY LTD
Transfer Date	20210505;
Holder of Voting Rights	Prime broker has the right to vote securities rehypothecated from the Client.
Are there any restrictions on voting rights?	~~Yes/~~ ~~N~~o
Ifyes, detailNot applicable
Scheduled Return Date (if any)	Open
Does the borrower have the right to return early?	Yes~~/No~~
If yes, detailPrime broker may return shares which were rehypothecated from the client at any time.
Does the lender have the right to recall early?	Yes~~/No~~
If yes, detailPrime broker will be required to return to the client shares rehypothecated from the client's account upon a sale of those shares by the client.
Will the securities be returned on settlement?	Yes~~/No~~

Page 3

AnnexureB

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 payable.

Schedule	Schedule
Type of Agreement	International Prime Brokerage Agreement
Parties to agreement	Morgan Stanley & Co. International plc for itself and as agent and trustee for and on behalf of the other Morgan Stanley Companies and L1 CAPITAL LONG SHORT (MASTER) FUND
Transfer Date	20210506;
Holder of Voting Rights	Prime broker has the right to vote securities rehypothecated from the Client.
Are there any restrictions on voting rights?	~~Yes/~~ ~~N~~o
Ifyes, detailNot applicable
Scheduled Return Date (if any)	Open
Does the borrower have the right to return early?	Yes~~/No~~
If yes, detailPrime broker may return shares which were rehypothecated from the client at any time.
Does the lender have the right to recall early?	Yes~~/No~~
If yes, detailPrime broker will be required to return to the client shares rehypothecated from the client's account upon a sale of those shares by the client.
Will the securities be returned on settlement?	Yes~~/No~~
If yes, detail any exceptionsUpon 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 payable.

Schedule	Schedule
Type of Agreement	International Prime Brokerage Agreement
Parties to agreement	Morgan Stanley & Co. International plc for itself and as agent and trustee for and on behalf of the other Morgan Stanley Companies and INTEGRATED CORE STRATEGIES (ASIA) PTE LTD.
Transfer Date	20210505;
Holder of Voting Rights	Prime broker has the right to vote securities rehypothecated from the Client.
Are there any restrictions on voting rights?	~~Yes/~~ ~~N~~o
Ifyes, detailNot applicable
Scheduled Return Date (if any)	Open
Does the borrower have the right to return early?	Yes~~/No~~
If yes, detailPrime broker may return shares which were rehypothecated from the client at any time.
Does the lender have the right to recall early?	Yes~~/No~~
If yes, detailPrime broker will be required to return to the client shares rehypothecated from the client's account upon a sale of those shares by the client.
Will the securities be returned on settlement?	Yes~~/No~~
If yes, detail any exceptionsUpon 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 payable.

Schedule	Schedule
Type of Agreement	International Prime Brokerage Agreement
Parties to agreement	Morgan Stanley & Co. International plc for itself and as agent and trustee for and on behalf of the other Morgan StanleyCompanies and L1 LONG SHORT FUND LIMITED
Transfer Date	20210506;
Holder of Voting Rights	Prime broker has the right to vote securities rehypothecated from the Client.

Page 4

AnnexureB

Are there any restrictions on voting rights?	~~Yes/~~ ~~N~~o
Ifyes, detailNot applicable
Scheduled Return Date (if any)	Open
Does the borrower have the right to return early?	Yes~~/No~~
If yes, detailPrime broker may return shares which were rehypothecated from the client at any time.
Does the lender have the right to recall early?	Yes~~/No~~
If yes, detailPrime broker will be required to return to the client shares rehypothecated from the client's account upon a sale of those shares by the client.
Will the securities be returned on settlement?	Yes~~/No~~
If yes, detail any exceptionsUpon 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 payable.

Page 5