PRO-PAC PACKAGING LIMITED — Major Shareholding Notification 2021

Sep 15, 2021

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	PRO-PAC PACKAGING LIMITED (PPG)
ACN/ARSN	112 971 874
1. Details of substantial holder (1)
Name	Bennamon Pty Ltd (ACN: 126 160 852)Kin Group Pty Ltd (ACN: 095 313 714)Salvage Pty Ltd (ACN: 101 048 471)
ACN/ARSN (if applicable)
There was a change in the interests of thesubstantial holder onThe previous notice was given to the company on	14/09/202130/08/2021
The previous notice was dated	30/08/2021

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:

	Previous notice		Present notice
Class of securities (4)	Person's votes	Voting power (5)	Person's votes	Voting power
Ordinary	427,698,942	52.7%	435,915,254	53.7%

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 ofchange	Person whoserelevant interestchanged	Nature of change (6)	Considerationgiven inrelation tochange (7)	Class andnumber ofsecuritiesaffected	Person's votesaffected
30/08/2021	Bennamon Pty LtdKin Group Pty LtdSalvage Pty Ltd	Acquisition of 519,076 ordinaryshares	$0.2050 pershare	Ordinary519,076	519,076
31/08/2021	Bennamon Pty LtdKin Group Pty LtdSalvage Pty Ltd	Acquisition of 913,906 ordinaryshares	$0.2133 pershare	Ordinary913,906	913,906
2/09/2021	Bennamon Pty LtdKin Group Pty LtdSalvage Pty Ltd	Acquisition of 2,212,589ordinary shares	$0.2150 pershare	Ordinary2,212,589	2,212,589
7/09/2021	Bennamon Pty LtdKin Group Pty LtdSalvage Pty Ltd	Acquisition of 385,315 ordinaryshares	$0.2082 pershare	Ordinary385,315	385,315
8/09/2021	Bennamon Pty LtdKin Group Pty LtdSalvage Pty Ltd	Acquisition of 168,381 ordinaryshares	$0.2100 pershare	Ordinary168,381	168,381
9/09/2021	Bennamon Pty LtdKin Group Pty LtdSalvage Pty Ltd	Acquisition of 3,489,989ordinary shares	$0.2191 pershare	Ordinary3,489,989	3,489,989

Date ofchange	Person whoserelevant interestchanged	Nature of change (6)	Considerationgiven inrelation tochange (7)	Class andnumber ofsecuritiesaffected	Person's votesaffected
13/09/2021	Bennamon Pty LtdKin Group Pty LtdSalvage Pty Ltd	Acquisition of 396,544 ordinaryshares	$0.2200 pershare	Ordinary396,544	396,544
14/09/2021	Bennamon Pty LtdKin Group Pty LtdSalvage Pty Ltd	Acquisition of 130,512 ordinaryshares	$0.2200 pershare	Ordinary130,512	130,512

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder ofRelevantinterest	Registeredholder ofsecurities	Person entitledto be registeredas holder (8)	Nature ofrelevantinterest (6)	Class andnumber ofsecurities	Person's votes
Bennamon PtyLtd	Bennamon Pty Ltd	Bennamon Pty Ltd	Direct Holding	Ordinary435,915,254	435,915,254
Kin Group PtyLtd	Bennamon Pty Ltd	Bennamon Pty Ltd	Relevant interest undersection 608(3) of theCorporations Act	Ordinary435,915,254	435,915,254
Salvage Pty Ltd	Bennamon Pty Ltd	Bennamon Pty Ltd	Relevant interest undersection 608(3) of theCorporations Act	Ordinary435,915,254	435,915,254

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:

Name and ACN/ARSN (if applicable)	Nature of association
N/A	N/A

6. Addresses

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

Name	Address
Bennamon Pty Ltd
Kin Group Pty Ltd	Level 16, 644 Chapel Street, South Yarra VIC 3141
Salvage Pty Ltd

Signature

print name Nick Perkins	capacity	Authorised signatory

sign here date 16/09/2021

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 on 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.

GUIDE This guide does not form part of the prescribed form and is included by ASIC to assist you in completing and lodging form 604.

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 tobe completed	Nil
Additional information	(a)If additional space is required to complete a question, the information may be included on a separatepiece of paper annexed to the form.
	(b)This notice must be given to a listed company, or the responsible entity for a listed managed investmentscheme. 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 awareof the information 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 must
	1use A4 size paper of white or light pastel colour with a margin of at least 10mm on all sides
	2show the corporation name and A.C.N or ARBN
	3number the pages consecutively
	4print or type in BLOCK letters in dark blue or black ink so that the document is clearly legible whenphotocopied
	5identify the annexure with a mark such as A, B, C, etc
	6endorse 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.