RURAL FUNDS GROUP — Major Shareholding Notification 2017

Mar 16, 2017

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Tel ma Super Pry Ltd. $A13476007122602$

Ausdralian Fireare of Schwieges the one early in teacher

Level 8, 215 Spring Street Melbourne Vicanna, 3000 Australia,

T | 400 053 164 | 168 965 1600 www.telstrasuper.com.au.

17 March 2017

The Manager - Companies ASX Limited Level 45, South Tower, Rialto 525 Collins Street Melbourne VIC 3000

By facsimile: 1 300 135 638

Dear Sirs

Re: Notice of ceasing to be a substantial shareholder

We attach a form 605, Notice of ceasing to be a substantial shareholder, for your information.

Yours Faithfully

سيمية Sjeve Miller

Company Secretary

Enc.

605 page 1/2 15 July 2001

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme	Rural Funds Group
ACN/ARSN	077 442 838

1. Details of substantial holder(1)

NameACN/ARSN (if applicable)	Telstra super Pty Ltd as trustee of Telstra Superannuation Scheme422.522
The holder ceased to be asubstantial holder on	15/03/17.

The previous notice was given to the company on	09/08/16
The previous notice was dated	09 1081 16

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since thesubstantial holder was last required

Date ofchange	Person whoserelevant Interestchanged	Nature ofchange (4)	Considerationgiven in relationto change(5)	Class (6) andnumber ofsecuritiesaffected	Person's votesaffected
IS N3 117	. Telshra Super	S ale u rShores---	182112 000	ਾਨਾਲਕਾਪੁ 55ਕਾਲ200 000 J	ww Ooo
Base Common	— — —.

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to votinginterests in the company or scheme are as fo

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

4. Addresses

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

Name	Address
Telstra$\mathbf{r}$ and $\mathbf{r}$	Street melhourne, 4tCع ب م ا215Springο

Signature

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page 2/2 15 July 2001 605

DIRECTIONS

• 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 anequity trust), the names could be included in an ann $(1)$ the form.
• See the definition of "relevant interest" in sections 608 and 6718(7) of the Corporations Act 2001. $(2)$
• $(3)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• $(4)$ Include details of:
  • any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 6718(4) applies, a copy of anydocument setting out the terms of any relevant agreement, and a statemen $[2] % \centering \includegraphics[width=0.3\textwidth]{images/TrDiS.pdf} \caption{The figure shows the results of the estimators in the left hand side.} \label{TrDiS}$
  • 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 towhich the relevant interest relates (indicating clearly the (b)

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Detalls 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, becomeentitled to receive in relation to that acquisition. Details m $[5] % \begin{center} \includegraphics[width=\linewidth]{imagesSupplemental_3.png} \end{center} % \caption { % \textit{DefNet} of the image \textit{DefNet} and the image \textit{DefNet} and the image \textit{DefNet} and the image \textit{DefNet} and the image \textit{DefNet} and the image \textit{DefNet} and the image \textit{DefNet} and the image \textit{DefNet} and the image \textit{DefNet} and the image \textit{DefNet} and the image \textit{DefNet} and the image \textit{DefNet} and the image \textit{DefNet} and the image \textit{DefNet} and the image \textit{DefNet} and the image \textit{DefNet} and the image \textit{DefNet} and the image \textit{Def$ 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.
• $(6)$ The voting shares of a company constitute one class unless divided into separate classes.
• $\omega$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.