PEET LIMITED — Major Shareholding Notification 2023

Feb 5, 2023

Form 603 Corporations Act 2001

Section 671B

Notice of initial 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 became a substantial holder on		February 01, 2023
The holder became aware on		February 03, 2023

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)
Ordinary Shares	24,178,931	24,178,931	5.10%
			Based on 473,988,632 OrdinaryShares Outstanding

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 numberof securities
Morgan Stanley & Co.International plc	Holder of securities subject to an obligation to return under a prime brokerageagreement.	23,548,150 OrdinaryShares
Morgan Stanley & Co.International plc	Shares held or in respect of which the holder may exercise control overdisposal in the ordinary course of sales and trading businesses.	9,643 Ordinary Shares
Morgan Stanley AustraliaSecurities Limited	Shares held or in respect of which the holder may exercise control overdisposal in the ordinary course of sales and trading businesses.	621,138 OrdinaryShares
Each of the entities (as listed inAnnexure A) in the MorganStanley group upstream of theabove entities	Each of the above entities is a body corporate that each upstream entitycontrols and therefore has the relevant interests that the above entitiescollectively have.	24,178,931 OrdinaryShares(N.B.: Total ofthe above directinterest)

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 relevant interest	Registered holder of securities	Person entitled to beregistered as holder (8)	Class and number ofsecurities
Morgan Stanley & Co. International plc	HSBC Custody Nominees (Australia)Limited	Not Applicable	23,557,793 OrdinaryShares
Morgan Stanley Australia SecuritiesLimited	Morgan Stanley Australia Securities(Nominee) Pty Limited	Not Applicable	621,138 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 relevant interest	Date of acquisition	Consideration (9)		Class and number interestof securities
		Cash	Non-cash
Morgan Stanley Australia Securities Limited	10/04/2022	907.39	Buy	803 Ordinary Shares
Morgan Stanley Australia Securities Limited	10/04/2022	714.56	Buy	638 Ordinary Shares
Morgan Stanley Australia Securities Limited	10/04/2022	619.94	Buy	556 Ordinary Shares
Morgan Stanley Australia Securities Limited	10/04/2022	3.38	Buy	3 Ordinary Shares
Morgan Stanley Australia Securities Limited	10/05/2022	18.16	Buy	16 Ordinary Shares
Morgan Stanley Australia Securities Limited	10/07/2022	1,539.57	Buy	1,387 Ordinary Shares
Morgan Stanley Australia Securities Limited	10/21/2022	543.90	Buy	518 Ordinary Shares
Morgan Stanley Australia Securities Limited	10/31/2022	79.20	Buy	72 Ordinary Shares
Morgan Stanley Australia Securities Limited	11/02/2022	192.50	Buy	175 Ordinary Shares
Morgan Stanley Australia Securities Limited	11/10/2022	272,500.00	Buy	250,000 Ordinary Shares
Morgan Stanley & Co. International plc	12/01/2022	N/A	Collateral Received	22,839,021 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/02/2022	1.15	Buy	1 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/02/2022	11.65	Buy	10 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/02/2022	1.15	Buy	1 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/02/2022	2.31	Buy	2 Ordinary Shares
Morgan Stanley & Co. International plc	12/02/2022	N/A	Collateral Received	3,940,490 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/05/2022	228.26	Buy	202 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/05/2022	2.21	Buy	2 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/05/2022	565.23	Buy	498 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/06/2022	542.73	Buy	474 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/06/2022	541.50	Buy	475 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/06/2022	509.63	Buy	451 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/06/2022	10.22	Buy	9 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/07/2022	2.27	Buy	2 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/07/2022	2.26	Buy	2 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/07/2022	2.28	Buy	2 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/07/2022	111.00	Buy	100 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/07/2022	210.60	Buy	195 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/07/2022	1.13	Buy	1 Ordinary Shares
Morgan Stanley & Co. International plc	12/07/2022	N/A	Collateral Received	3,643,478 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/08/2022	80.67	Buy	73 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/09/2022	3,360.50	Buy	3,055 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/12/2022	2.22	Buy	2 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/12/2022	2.18	Buy	2 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/12/2022	1.12	Buy	1 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/12/2022	2.21	Buy	2 Ordinary Shares
Morgan Stanley & Co. International plc	12/12/2022	N/A	Collateral Received	26,651,736 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/13/2022	287.49	Buy	259 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/13/2022	1,382.99	Buy	1,263 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/13/2022	88.97	Buy	82 Ordinary Shares

Morgan Stanley Australia Securities Limited	12/13/2022	155.81	Buy	141 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/14/2022	68.80	Buy	64 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/14/2022	34.08	Buy	32 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/14/2022	1,075.00	Buy	1,000 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/14/2022	81.32	Buy	76 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/14/2022	2,715.90	Buy	2,469 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/14/2022	553.32	Buy	522 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/14/2022	499.22	Buy	458 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/14/2022	79.94	Buy	73 Ordinary Shares
Morgan Stanley & Co. International plc	12/14/2022	N/A	Collateral Received	23,008,263 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/15/2022	1,077.16	Buy	1,021 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/15/2022	686.31	Buy	634 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/15/2022	1,100.00	Buy	1,000 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/15/2022	884.00	Buy	800 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/15/2022	15.90	Buy	15 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/15/2022	103.40	Buy	94 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/15/2022	648.86	Buy	605 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/15/2022	71.61	Buy	66 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/15/2022	330.00	Buy	300 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/15/2022	972.00	Buy	900 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/15/2022	1,069.63	Buy	995 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/16/2022	636.12	Buy	589 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/16/2022	356.92	Buy	323 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/16/2022	322.50	Buy	300 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/16/2022	1,160.95	Buy	1,085 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/19/2022	1.14	Buy	1 Ordinary Shares
Morgan Stanley & Co. International plc	12/19/2022	N/A	Collateral Received	15,796,098 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/20/2022	1,194.60	Buy	1,086 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/21/2022	700.91	Buy	646 Ordinary Shares
Morgan Stanley & Co. International plc	12/21/2022	N/A	Collateral Received	332,445 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/23/2022	1,700.23	Buy	1,589 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/23/2022	700.90	Buy	652 Ordinary Shares
Morgan Stanley Australia Securities Limited	12/29/2022	11.77	Buy	11 Ordinary Shares
Morgan Stanley & Co. International plc	12/30/2022	N/A	Collateral Received	11,610,177 Ordinary Shares
Morgan Stanley & Co. International plc	01/03/2023	N/A	Collateral Received	12,000,948 Ordinary Shares
Morgan Stanley Australia Securities Limited	01/04/2023	3,201.00	Buy	2,910 Ordinary Shares
Morgan Stanley & Co. International plc	01/04/2023	N/A	Collateral Received	789,890 Ordinary Shares
Morgan Stanley & Co. International plc	01/05/2023	N/A	Collateral Received	2,876,552 Ordinary Shares
Morgan Stanley & Co. International plc	01/10/2023	N/A	Collateral Received	2,518,334 Ordinary Shares
Morgan Stanley Australia Securities Limited	01/11/2023	1,200.03	Buy	1,086 Ordinary Shares
Morgan Stanley Australia Securities Limited	01/11/2023	2,200.00	Buy	2,000 Ordinary Shares
Morgan Stanley & Co. International plc	01/11/2023	N/A	Collateral Received	16,650,353 Ordinary Shares
Morgan Stanley Australia Securities Limited	01/12/2023	1,200.10	Buy	1,091 Ordinary Shares
Morgan Stanley & Co. International plc	01/12/2023	N/A	Collateral Received	4,442,440 Ordinary Shares
Morgan Stanley Australia Securities Limited	01/13/2023	1,701.00	Buy	1,575 Ordinary Shares
Morgan Stanley Australia Securities Limited	01/17/2023	1,701.00	Buy	1,575 Ordinary Shares
Morgan Stanley & Co. International plc	01/17/2023	N/A	Collateral Received	13,349,836 Ordinary Shares
Morgan Stanley Australia Securities Limited	01/18/2023	1,556.28	Buy	1,441 Ordinary Shares
Morgan Stanley Australia Securities Limited	01/18/2023	1,200.54	Buy	1,122 Ordinary Shares

Morgan Stanley Australia Securities Limited	01/23/2023	53.04	Buy	48 Ordinary Shares
Morgan Stanley & Co. International plc	01/24/2023	N/A	Collateral Received	17,777,742 Ordinary Shares
Morgan Stanley Australia Securities Limited	01/27/2023	385.00	Buy	350 Ordinary Shares
Morgan Stanley & Co. International plc	01/27/2023	N/A	Collateral Received	20,551,129 Ordinary Shares
Morgan Stanley Australia Securities Limited	02/01/2023	1,116.12	Buy	1,001 Ordinary Shares
Morgan Stanley & Co. International plc	02/01/2023	N/A	Collateral Received	7,752,985 Ordinary Shares

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
Morgan Stanley & Co. International plc	Is a body corporate controlled by each upstream entity as listed in Annexure A
Morgan Stanley Australia Securities Limited	Is a body corporate controlled by each upstream entity as listed in Annexure A

7. Addresses

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

Name	Address
Morgan Stanley	1585 Broadway, New York, New York, 10036, USA.
Morgan Stanley & Co. International plc	Legal & Compliance Department, 25 Cabot Square, Canary Wharf, London, E14 4QA,UNITED KINGDOM.
Morgan Stanley Australia Securities Limited	Level 39, Chifley Tower, 2 Chifley Square, Sydney, 2000, AUSTRALIA.

Signature

print name	Wilson Li		capacity	Vice President
sign here			date	February 03, 2023

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 stated in Section 3.
-------------------------------------------------------------------------------------------------------------------------------------------------------------	--	--	--	--	--	--	--

Name
└─┬─Morgan Stanley
└─┬─Morgan Stanley International Holdings Inc.
├─┬─Morgan Stanley (Australia) Securities Holdings Pty Limited
│ └───Morgan Stanley Australia Securities Limited
└─┬─Morgan Stanley International Limited
└─┬─Morgan Stanley Investments (UK)
└───Morgan Stanley & Co. International plc

Signature

print name	Wilson Li		capacity	Vice President
sign here			date	February 03, 2023

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 7 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 total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.
• (6) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• (7) Include details of:
  • (a) any relevant agreement or other circumstances by which the relevant interest was acquired. 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.

• (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) Details of the consideration must include any and all benefits, moneys 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.

GUIDE This guide does not form part of the prescribed form and is included by ASIC to assist you in completing and lodging form 603.

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(ii)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
Annexures	(B)the person becomes aware of the information during the bid period.To make any annexure conform to the regulations, you must1use A4 size paper of white or light pastel colour with a margin of at least 10mm on all sides2show the corporation name and ACN or ARBN3number the pages consecutively4print or type in BLOCK letters in dark blue or black ink so that the document is clearly legible when photocopied5identify the annexure with a mark such as A, B, C, etc6endorse the annexure with the words:This is annexure (mark) of (number) pages referred to in form (form number and title)7sign 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.

Annexure B:

This is Annexure B referred to in the Form 603: Notice of becoming a substantial holder issued by Morgan Stanley and its subsidiaries. The following is description of the securities lending agreements referenced in the accompanying Form 603.

Schedule
Type of Agreement	International Prime Brokerage Agreement
Parties to agreement	Morgan Stanley & Co. International plc for itself and as agent andtrustee for and on behalf of the other Morgan Stanley Companies
	andEQUITY TRUSTEES LIMITED AS TRUSTEE FOR L1CAPITAL LONG SHORT FUND
Transfer Date	20230201;
Holder of Voting Rights	Prime broker has the right to vote securities rehypothecated fromthe Client.
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 Prime broker may return shares which were rehypothecated from the client at any time.
Does the lender have the right to recall early?	Yes/No
shares by the client.	If yes, detail Prime broker will be required to return to the client shares rehypothecated from the client's account upon a sale of those
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 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 Stanley Companies
	and INTEGRATED CORE STRATEGIES (ASIA) PTE LTD.
Transfer Date	20230201;
Holder of Voting Rights	Prime broker has the right to vote securities rehypothecated from
	the Client.
Are there any restrictions on voting rights?	Yes/No
If yes, detail Not applicableScheduled Return Date (if any)	Open
Does the borrower have the right to return early?	Yes/No
If yes, detail Prime broker may return shares which were rehypothecated from the client at any time.
Does the lender have the right to recall early?	Yes/No
shares by the client.	If yes, detail Prime broker will be required to return to the client shares rehypothecated from the client's account upon a sale of those
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 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 Stanley Companies
	and EQUITY TRUSTEES LIMITED AS RESPONSIBLE ENTITY
	FOR REGAL INVESTMENT FUND
Transfer Date	20230201;
Holder of Voting Rights	Prime broker has the right to vote securities rehypothecated fromthe Client.
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 Prime broker may return shares which were rehypothecated from the client at any time.
Does the lender have the right to recall early?	Yes/No
shares by the client.	If yes, detail Prime broker will be required to return to the client shares rehypothecated from the client's account upon a sale of those
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 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 Stanley Companies
	and L1 LONG SHORT FUND LIMITED
Transfer Date	20230201;
Holder of Voting Rights	Prime broker has the right to vote securities rehypothecated from
	the Client.
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 Prime 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, detail Prime 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 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.

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	Wilson Li	capacity	Vice President
sign here		date	February 03, 2023