RYDER CAPITAL LIMITED — M&A Activity 2019

Jul 23, 2019

24 July 2019

RYDER CAPITAL LIMITED

Market Announcements Platform Australia Securities Exchange 20 Bridge Street SYDNEY NSW 2000

RYDER CAPITAL LIMITED SHAREHOLDING IN PACIFIC ENERGY LIMITED

Ryder Capital Limited (ASX:RYD) wishes to advise shareholders that it currently holds ~ 6.42m ordinary shares in Pacific Energy Limited (ASX:PEA) (“Pacific Energy”).

Today the Directors of Pacific Energy announced that they have entered into a Scheme Implementation Deed with a subsidiary of funds managed or advised by QIC Private Capital Pty Ltd (“QIC”), to acquire Pacific Energy by way of a Scheme of Arrangement (“Scheme”). Under the Scheme Pacific Energy shareholders will receive $0.975 per share in cash, comprising $0.96 per share to be paid by QIC and a final $0.015 per share fully franked dividend intended to be paid by Pacific Energy.

In the absence of receiving a higher offer the Directors of Pacific Energy have unanimously recommended the Scheme.

Yours faithfully,

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David Bottomley

Director and Company Secretary

Level 25, 88 Phillip Street SYDNEY NSW 2000 I www.rydercapital.com.au T +61 (2) 8211 2790 F +61 (2) 8211 0555 I ABN 57 606 695 854