SANTOS LIMITED — Major Shareholding Notification 2023

Apr 3, 2023

603 page 1/2 15 July 2001

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

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To Company Name/Scheme Santos Limited
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ACN/ARSN 1. Details of substantial holder (1) Name ACN/ARSN (if applicable) The holder became a substantial holder on	007 550 923
	Vanguard Group (The Vanguard Group, Inc. and its controlled entities including those listed in Annexure A).
	N/A
	29 March 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	165,560,037	165,560,037	5.015%
Note: Vanguard Group also holds	94,935 shares of Santos Limited ADR.

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:

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Holder of relevant interest Nature of relevant interest (7) Class and number of securities
Vanguard Group Vanguard Group is the manager of various Mutual funds Ordinary – 165,560,037
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and accounts and in that capacity has the power to dispose of the shares. The other members of Vanguard Group have a relevant interest under section 608(3) of the Corporations Act.

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

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Holder of relevant Registered holder of Person entitled to be Class and
interest securities registered as holder (8) number of
securities
Vanguard Group Brown Brothers Harriman Various funds and accounts of Vanguard Group Ordinary –
9,639,156
Vanguard Group BNY Mellon Various funds and accounts of Vanguard Group Ordinary –
11,292,699
Vanguard Group JP Morgan Chase Bank, Various funds and accounts of Vanguard Group Ordinary –
N.A. 117,953,096
Vanguard Group State Street Bank and Trust Various funds and accounts of Vanguard Group Ordinary –
Company 26,675,086
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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:

stantial holder is as follows:
Holder of relevant interest	Date of acquisition	Consideration (9)	Class and number of securities
	See Annexure A

603 page 2/2 15 July 2001

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
N/A	N/A

7. Addresses

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

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Name Address
Vanguard Group P.O. Box 2600, V26 Valley Forge, PA 19482 USA
print name Shawn Acker capacity Compliance Manager
sign here date 3 April 2023
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Annexure A

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To Company Santos Limited
ACN/ARSN 007 550 923
Substantial Holder Name Vanguard Group
ACN/ARSN N/A
Consideration
Nature of given in relation Number of securities Person's votes
Date of change Person whose relevant interest changed Change(6) to change(7) Class affected affected
30-Nov-22 The Vanguard Group, Inc. BUY 7.40 Ordinary 2,886 2,886
30-Nov-22 The Vanguard Group, Inc. SELL 7.40 Ordinary (70,075) (70,075)
1-Dec-22 The Vanguard Group, Inc. SELL 7.34 Ordinary (11,356) (11,356)
2-Dec-22 The Vanguard Group, Inc. BUY 7.15 Ordinary 2,722 2,722
2-Dec-22 The Vanguard Group, Inc. BUY 7.12 Ordinary 5,640 5,640
5-Dec-22 The Vanguard Group, Inc. BUY 7.34 Ordinary 296 296
8-Dec-22 The Vanguard Group, Inc. BUY 7.05 Ordinary 5,788 5,788
8-Dec-22 The Vanguard Group, Inc. BUY 7.11 Ordinary 60,269 60,269
12-Dec-22 The Vanguard Group, Inc. BUY 7.21 Ordinary 7,105 7,105
13-Dec-22 The Vanguard Group, Inc. BUY 7.10 Ordinary 2,884 2,884
13-Dec-22 The Vanguard Group, Inc. BUY 7.10 Ordinary 979 979
13-Dec-22 The Vanguard Group, Inc. BUY 7.10 Ordinary 37,841 37,841
13-Dec-22 The Vanguard Group, Inc. BUY 7.13 Ordinary 4,275 4,275
13-Dec-22 The Vanguard Group, Inc. BUY 7.13 Ordinary 7,125 7,125
13-Dec-22 The Vanguard Group, Inc. BUY 7.13 Ordinary 7,125 7,125
16-Dec-22 The Vanguard Group, Inc. BUY 7.22 Ordinary 2,730 2,730
16-Dec-22 The Vanguard Group, Inc. SELL 7.22 Ordinary (16,053) (16,053)
16-Dec-22 The Vanguard Group, Inc. BUY 7.22 Ordinary 1,482 1,482
16-Dec-22 The Vanguard Group, Inc. SELL 7.22 Ordinary (274) (274)
16-Dec-22 The Vanguard Group, Inc. SELL 7.22 Ordinary (130,303) (130,303)
16-Dec-22 The Vanguard Group, Inc. SELL 7.22 Ordinary (140,975) (140,975)
16-Dec-22 The Vanguard Group, Inc. SELL 7.22 Ordinary (394,878) (394,878)
16-Dec-22 The Vanguard Group, Inc. SELL 7.22 Ordinary (62,561) (62,561)
16-Dec-22 The Vanguard Group, Inc. SELL 7.22 Ordinary (644,889) (644,889)
16-Dec-22 The Vanguard Group, Inc. SELL 7.22 Ordinary (251,924) (251,924)
16-Dec-22 The Vanguard Group, Inc. SELL 7.22 Ordinary (41,707) (41,707)
16-Dec-22 The Vanguard Group, Inc. SELL 7.22 Ordinary (4,827) (4,827)
19-Dec-22 The Vanguard Group, Inc. SELL 7.21 Ordinary (93,607) (93,607)
21-Dec-22 The Vanguard Group, Inc. BUY 7.32 Ordinary 2,776 2,776
21-Dec-22 The Vanguard Group, Inc. BUY 7.32 Ordinary 2,828 2,828
21-Dec-22 The Vanguard Group, Inc. BUY 7.32 Ordinary 55,096 55,096
23-Dec-22 The Vanguard Group, Inc. BUY 7.20 Ordinary 1,331 1,331
28-Dec-22 The Vanguard Group, Inc. BUY 7.30 Ordinary 6,640 6,640
28-Dec-22 The Vanguard Group, Inc. BUY 7.30 Ordinary 39,936 39,936
29-Dec-22 The Vanguard Group, Inc. BUY 7.09 Ordinary 2,652 2,652
29-Dec-22 The Vanguard Group, Inc. BUY 7.09 Ordinary 5,322 5,322
29-Dec-22 The Vanguard Group, Inc. BUY 7.14 Ordinary 19,968 19,968
3-Jan-23 The Vanguard Group, Inc. SELL 7.08 Ordinary (12,556) (12,556)
4-Jan-23 The Vanguard Group, Inc. BUY 6.96 Ordinary 1,378 1,378
4-Jan-23 The Vanguard Group, Inc. BUY 6.96 Ordinary 2,756 2,756
4-Jan-23 The Vanguard Group, Inc. BUY 6.94 Ordinary 11,332 11,332
4-Jan-23 The Vanguard Group, Inc. SELL 6.99 Ordinary (104,836) (104,836)
5-Jan-23 The Vanguard Group, Inc. BUY 6.90 Ordinary 18,539 18,539
5-Jan-23 The Vanguard Group, Inc. BUY 6.87 Ordinary 19,927 19,927
5-Jan-23 The Vanguard Group, Inc. BUY 6.87 Ordinary 4,715 4,715
6-Jan-23 The Vanguard Group, Inc. BUY 7.02 Ordinary 2,826 2,826
6-Jan-23 The Vanguard Group, Inc. BUY 7.07 Ordinary 19,968 19,968
6-Jan-23 The Vanguard Group, Inc. BUY 7.07 Ordinary 8,499 8,499
6-Jan-23 The Vanguard Group, Inc. SELL 6.98 Ordinary (70,316) (70,316)
6-Jan-23 The Vanguard Group, Inc. SELL 6.98 Ordinary (62,929) (62,929)
9-Jan-23 The Vanguard Group, Inc. BUY 7.11 Ordinary 6,072 6,072
10-Jan-23 The Vanguard Group, Inc. BUY 7.05 Ordinary 1,381 1,381
10-Jan-23 The Vanguard Group, Inc. BUY 7.05 Ordinary 2,856 2,856
11-Jan-23 The Vanguard Group, Inc. BUY 7.06 Ordinary 4,149 4,149
11-Jan-23 The Vanguard Group, Inc. BUY 7.06 Ordinary 4,281 4,281
11-Jan-23 The Vanguard Group, Inc. SELL 7.06 Ordinary (813) (813)
12-Jan-23 The Vanguard Group, Inc. SELL 7.14 Ordinary (81,247) (81,247)
12-Jan-23 The Vanguard Group, Inc. SELL 7.13 Ordinary (61,837) (61,837)
13-Jan-23 The Vanguard Group, Inc. BUY 7.30 Ordinary 1,344 1,344
16-Jan-23 The Vanguard Group, Inc. BUY 7.30 Ordinary 4,989 4,989
16-Jan-23 The Vanguard Group, Inc. BUY 7.30 Ordinary 6,224 6,224
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Page 1 of 5

Annexure A

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Consideration
Nature of given in relation Number of securities Person's votes
Date of change Person whose relevant interest changed Change(6) to change(7) Class affected affected
17-Jan-23 The Vanguard Group, Inc. BUY 7.38 Ordinary 1,328 1,328
19-Jan-23 The Vanguard Group, Inc. BUY 7.24 Ordinary 2,766 2,766
19-Jan-23 The Vanguard Group, Inc. BUY 7.24 Ordinary 10,636 10,636
19-Jan-23 The Vanguard Group, Inc. BUY 7.24 Ordinary 2,852 2,852
20-Jan-23 The Vanguard Group, Inc. BUY 7.43 Ordinary 16,640 16,640
20-Jan-23 The Vanguard Group, Inc. SELL 7.35 Ordinary (48,461) (48,461)
20-Jan-23 The Vanguard Group, Inc. SELL 7.34 Ordinary (62,607) (62,607)
20-Jan-23 The Vanguard Group, Inc. SELL 7.35 Ordinary (58,163) (58,163)
20-Jan-23 The Vanguard Group, Inc. SELL 7.34 Ordinary (58,151) (58,151)
24-Jan-23 The Vanguard Group, Inc. BUY 7.36 Ordinary 2,858 2,858
24-Jan-23 The Vanguard Group, Inc. BUY 7.36 Ordinary 4,287 4,287
24-Jan-23 The Vanguard Group, Inc. BUY 7.34 Ordinary 116,153 116,153
27-Jan-23 The Vanguard Group, Inc. SELL 7.24 Ordinary (74,452) (74,452)
30-Jan-23 The Vanguard Group, Inc. BUY 7.17 Ordinary 73,563 73,563
30-Jan-23 The Vanguard Group, Inc. BUY 7.24 Ordinary 7,356 7,356
31-Jan-23 The Vanguard Group, Inc. BUY 7.11 Ordinary 9,942 9,942
1-Feb-23 The Vanguard Group, Inc. BUY 7.04 Ordinary 1,464 1,464
1-Feb-23 The Vanguard Group, Inc. BUY 7.04 Ordinary 25,938 25,938
1-Feb-23 The Vanguard Group, Inc. BUY 7.19 Ordinary 3,824 3,824
2-Feb-23 The Vanguard Group, Inc. BUY 6.93 Ordinary 39,552 39,552
2-Feb-23 The Vanguard Group, Inc. SELL 6.97 Ordinary (49,918) (49,918)
3-Feb-23 The Vanguard Group, Inc. BUY 6.99 Ordinary 1,398 1,398
3-Feb-23 The Vanguard Group, Inc. BUY 6.99 Ordinary 62,375 62,375
3-Feb-23 The Vanguard Group, Inc. BUY 6.99 Ordinary 5,048 5,048
3-Feb-23 The Vanguard Group, Inc. BUY 6.99 Ordinary 2,856 2,856
3-Feb-23 The Vanguard Group, Inc. SELL 6.92 Ordinary (12,768) (12,768)
3-Feb-23 The Vanguard Group, Inc. SELL 6.92 Ordinary (6,384) (6,384)
3-Feb-23 The Vanguard Group, Inc. SELL 6.92 Ordinary (8,286) (8,286)
3-Feb-23 The Vanguard Group, Inc. SELL 6.92 Ordinary (7,450) (7,450)
6-Feb-23 The Vanguard Group, Inc. BUY 7.01 Ordinary 28,800 28,800
7-Feb-23 The Vanguard Group, Inc. BUY 7.05 Ordinary 1,446 1,446
7-Feb-23 The Vanguard Group, Inc. BUY 7.05 Ordinary 23,040 23,040
7-Feb-23 The Vanguard Group, Inc. BUY 7.05 Ordinary 13,309 13,309
8-Feb-23 The Vanguard Group, Inc. BUY 7.03 Ordinary 1,497 1,497
9-Feb-23 The Vanguard Group, Inc. BUY 6.97 Ordinary 19,968 19,968
10-Feb-23 The Vanguard Group, Inc. BUY 6.95 Ordinary 1,416 1,416
15-Feb-23 The Vanguard Group, Inc. BUY 7.06 Ordinary 2,380 2,380
15-Feb-23 The Vanguard Group, Inc. BUY 7.02 Ordinary 19,968 19,968
16-Feb-23 The Vanguard Group, Inc. BUY 7.01 Ordinary 5,236 5,236
17-Feb-23 The Vanguard Group, Inc. BUY 6.85 Ordinary 3,402 3,402
17-Feb-23 The Vanguard Group, Inc. BUY 6.85 Ordinary 7,130 7,130
17-Feb-23 The Vanguard Group, Inc. BUY 6.94 Ordinary 62,709 62,709
20-Feb-23 The Vanguard Group, Inc. BUY 6.77 Ordinary 2,525 2,525
20-Feb-23 The Vanguard Group, Inc. BUY 6.83 Ordinary 5,948 5,948
21-Feb-23 The Vanguard Group, Inc. BUY 6.81 Ordinary 3,339 3,339
21-Feb-23 The Vanguard Group, Inc. BUY 6.81 Ordinary 3,339 3,339
21-Feb-23 The Vanguard Group, Inc. BUY 6.73 Ordinary 19,968 19,968
22-Feb-23 The Vanguard Group, Inc. BUY 7.02 Ordinary 1,916 1,916
22-Feb-23 The Vanguard Group, Inc. BUY 7.02 Ordinary 23,097 23,097
23-Feb-23 The Vanguard Group, Inc. BUY 6.93 Ordinary 2,882 2,882
23-Feb-23 The Vanguard Group, Inc. BUY 6.98 Ordinary 8,322 8,322
24-Feb-23 The Vanguard Group, Inc. BUY 7.01 Ordinary 1,473 1,473
24-Feb-23 The Vanguard Group, Inc. BUY 7.01 Ordinary 1,326 1,326
27-Feb-23 The Vanguard Group, Inc. SELL 6.89 Ordinary (438) (438)
27-Feb-23 The Vanguard Group, Inc. BUY 6.96 Ordinary 19,968 19,968
27-Feb-23 The Vanguard Group, Inc. BUY 6.96 Ordinary 8,322 8,322
28-Feb-23 The Vanguard Group, Inc. SELL 7.00 Ordinary (42,783) (42,783)
1-Mar-23 The Vanguard Group, Inc. BUY 7.06 Ordinary 1,473 1,473
1-Mar-23 The Vanguard Group, Inc. BUY 7.18 Ordinary 16,640 16,640
1-Mar-23 The Vanguard Group, Inc. BUY 7.18 Ordinary 33,280 33,280
1-Mar-23 The Vanguard Group, Inc. BUY 7.18 Ordinary 22,232 22,232
1-Mar-23 The Vanguard Group, Inc. BUY 7.02 Ordinary 65,168 65,168
2-Mar-23 The Vanguard Group, Inc. BUY 7.11 Ordinary 27,775 27,775
2-Mar-23 The Vanguard Group, Inc. BUY 7.11 Ordinary 5,050 5,050
2-Mar-23 The Vanguard Group, Inc. BUY 7.11 Ordinary 20,174 20,174
2-Mar-23 The Vanguard Group, Inc. BUY 7.11 Ordinary 58,075 58,075
3-Mar-23 The Vanguard Group, Inc. BUY 7.20 Ordinary 10,451 10,451
6-Mar-23 The Vanguard Group, Inc. BUY 7.14 Ordinary 2,525 2,525
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Page 2 of 5

Annexure A

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Consideration
Nature of given in relation Number of securities Person's votes
Date of change Person whose relevant interest changed Change(6) to change(7) Class affected affected
7-Mar-23 The Vanguard Group, Inc. BUY 7.33 Ordinary 1,473 1,473
7-Mar-23 The Vanguard Group, Inc. BUY 7.33 Ordinary 8,738 8,738
8-Mar-23 The Vanguard Group, Inc. BUY 7.40 Ordinary 13,312 13,312
9-Mar-23 The Vanguard Group, Inc. BUY 7.40 Ordinary 60,865 60,865
10-Mar-23 The Vanguard Group, Inc. SELL 7.20 Ordinary (44,176) (44,176)
13-Mar-23 The Vanguard Group, Inc. BUY 7.24 Ordinary 3,437 3,437
13-Mar-23 The Vanguard Group, Inc. BUY 7.24 Ordinary 1,892 1,892
13-Mar-23 The Vanguard Group, Inc. SELL 7.15 Ordinary (16,566) (16,566)
14-Mar-23 The Vanguard Group, Inc. BUY 7.11 Ordinary 3,437 3,437
15-Mar-23 The Vanguard Group, Inc. BUY 7.17 Ordinary 1,326 1,326
15-Mar-23 The Vanguard Group, Inc. BUY 7.17 Ordinary 424 424
15-Mar-23 The Vanguard Group, Inc. SELL 6.95 Ordinary (6,384) (6,384)
15-Mar-23 The Vanguard Group, Inc. SELL 6.95 Ordinary (8,283) (8,283)
15-Mar-23 The Vanguard Group, Inc. SELL 6.95 Ordinary (11,044) (11,044)
16-Mar-23 The Vanguard Group, Inc. BUY 6.82 Ordinary 3,928 3,928
17-Mar-23 The Vanguard Group, Inc. BUY 6.93 Ordinary 5,017 5,017
17-Mar-23 The Vanguard Group, Inc. BUY 6.93 Ordinary 18,081 18,081
17-Mar-23 The Vanguard Group, Inc. BUY 6.93 Ordinary 360,577 360,577
17-Mar-23 The Vanguard Group, Inc. BUY 6.93 Ordinary 1,266,830 1,266,830
20-Mar-23 The Vanguard Group, Inc. BUY 6.74 Ordinary 2,208 2,208
20-Mar-23 The Vanguard Group, Inc. BUY 6.83 Ordinary 547 547
20-Mar-23 The Vanguard Group, Inc. BUY 6.74 Ordinary 441 441
22-Mar-23 The Vanguard Group, Inc. BUY 6.99 Ordinary 4,880 4,880
22-Mar-23 The Vanguard Group, Inc. SELL 6.99 Ordinary (1,480) (1,480)
24-Mar-23 The Vanguard Group, Inc. BUY 6.85 Ordinary 752 752
24-Mar-23 The Vanguard Group, Inc. BUY 6.85 Ordinary 78,113 78,113
24-Mar-23 The Vanguard Group, Inc. BUY 6.85 Ordinary 33,881 33,881
27-Mar-23 The Vanguard Group, Inc. SELL 6.74 Ordinary (51,876) (51,876)
27-Mar-23 The Vanguard Group, Inc. BUY 6.86 Ordinary 3,412 3,412
28-Mar-23 The Vanguard Group, Inc. BUY 6.95 Ordinary 669 669
29-Mar-23 The Vanguard Group, Inc. SELL 7.02 Ordinary (27,920) (27,920)
29-Mar-23 The Vanguard Group, Inc. BUY 6.99 Ordinary 84,661 84,661
2-Dec-22 Vanguard Investments Australia Ltd. BUY 7.15 Ordinary 4,304 4,304
5-Dec-22 Vanguard Investments Australia Ltd. BUY 7.34 Ordinary 66,500 66,500
7-Dec-22 Vanguard Investments Australia Ltd. BUY 7.17 Ordinary 4,306 4,306
7-Dec-22 Vanguard Investments Australia Ltd. BUY 7.17 Ordinary 6,459 6,459
8-Dec-22 Vanguard Investments Australia Ltd. BUY 7.09 Ordinary 8,608 8,608
12-Dec-22 Vanguard Investments Australia Ltd. BUY 7.11 Ordinary 26,720 26,720
13-Dec-22 Vanguard Investments Australia Ltd. BUY 7.10 Ordinary 26,720 26,720
13-Dec-22 Vanguard Investments Australia Ltd. BUY 7.10 Ordinary 40,080 40,080
14-Dec-22 Vanguard Investments Australia Ltd. SELL 7.16 Ordinary (77,488) (77,488)
14-Dec-22 Vanguard Investments Australia Ltd. BUY 7.16 Ordinary 4,304 4,304
16-Dec-22 Vanguard Investments Australia Ltd. BUY 7.22 Ordinary 2,750,000 2,750,000
16-Dec-22 Vanguard Investments Australia Ltd. BUY 7.22 Ordinary 1,688,391 1,688,391
16-Dec-22 Vanguard Investments Australia Ltd. BUY 7.22 Ordinary 1,087,143 1,087,143
16-Dec-22 Vanguard Investments Australia Ltd. BUY 7.22 Ordinary 6,456 6,456
20-Dec-22 Vanguard Investments Australia Ltd. BUY 7.13 Ordinary 26,630 26,630
20-Dec-22 Vanguard Investments Australia Ltd. BUY 7.13 Ordinary 3,581 3,581
20-Dec-22 Vanguard Investments Australia Ltd. BUY 7.22 Ordinary 72,120 72,120
20-Dec-22 Vanguard Investments Australia Ltd. BUY 7.13 Ordinary 8,172 8,172
21-Dec-22 Vanguard Investments Australia Ltd. SELL 7.32 Ordinary (4,086) (4,086)
22-Dec-22 Vanguard Investments Australia Ltd. SELL 7.31 Ordinary (47,934) (47,934)
22-Dec-22 Vanguard Investments Australia Ltd. BUY 7.31 Ordinary 8,172 8,172
23-Dec-22 Vanguard Investments Australia Ltd. SELL 7.20 Ordinary (31,932) (31,932)
23-Dec-22 Vanguard Investments Australia Ltd. BUY 7.20 Ordinary 8,172 8,172
23-Dec-22 Vanguard Investments Australia Ltd. BUY 7.20 Ordinary 8,172 8,172
28-Dec-22 Vanguard Investments Australia Ltd. SELL 7.38 Ordinary (93,100) (93,100)
28-Dec-22 Vanguard Investments Australia Ltd. BUY 7.38 Ordinary 4,086 4,086
29-Dec-22 Vanguard Investments Australia Ltd. BUY 7.09 Ordinary 8,180 8,180
30-Dec-22 Vanguard Investments Australia Ltd. SELL 7.14 Ordinary (107,400) (107,400)
3-Jan-23 Vanguard Investments Australia Ltd. BUY 7.08 Ordinary 65,950 65,950
3-Jan-23 Vanguard Investments Australia Ltd. BUY 7.08 Ordinary 8,084 8,084
3-Jan-23 Vanguard Investments Australia Ltd. BUY 7.08 Ordinary 12,126 12,126
5-Jan-23 Vanguard Investments Australia Ltd. BUY 6.90 Ordinary 12,126 12,126
13-Jan-23 Vanguard Investments Australia Ltd. SELL 7.30 Ordinary (39,360) (39,360)
17-Jan-23 Vanguard Investments Australia Ltd. BUY 7.38 Ordinary 8,088 8,088
18-Jan-23 Vanguard Investments Australia Ltd. BUY 7.36 Ordinary 8,088 8,088
25-Jan-23 Vanguard Investments Australia Ltd. BUY 7.24 Ordinary 3,550 3,550
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Page 3 of 5

Annexure A

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Consideration
Nature of given in relation Number of securities Person's votes
Date of change Person whose relevant interest changed Change(6) to change(7) Class affected affected
30-Jan-23 Vanguard Investments Australia Ltd. BUY 7.17 Ordinary 8,088 8,088
31-Jan-23 Vanguard Investments Australia Ltd. SELL 7.11 Ordinary (104,603) (104,603)
31-Jan-23 Vanguard Investments Australia Ltd. SELL 7.11 Ordinary (28,512) (28,512)
1-Feb-23 Vanguard Investments Australia Ltd. SELL 7.04 Ordinary (54,957) (54,957)
2-Feb-23 Vanguard Investments Australia Ltd. BUY 6.93 Ordinary 3,550 3,550
2-Feb-23 Vanguard Investments Australia Ltd. BUY 6.93 Ordinary 12,129 12,129
3-Feb-23 Vanguard Investments Australia Ltd. BUY 6.99 Ordinary 52,220 52,220
3-Feb-23 Vanguard Investments Australia Ltd. SELL 6.99 Ordinary (41,776) (41,776)
3-Feb-23 Vanguard Investments Australia Ltd. BUY 6.99 Ordinary 12,129 12,129
7-Feb-23 Vanguard Investments Australia Ltd. BUY 7.05 Ordinary 8,086 8,086
9-Feb-23 Vanguard Investments Australia Ltd. BUY 7.03 Ordinary 8,086 8,086
10-Feb-23 Vanguard Investments Australia Ltd. BUY 6.95 Ordinary 8,086 8,086
13-Feb-23 Vanguard Investments Australia Ltd. BUY 7.07 Ordinary 39,090 39,090
13-Feb-23 Vanguard Investments Australia Ltd. SELL 7.07 Ordinary (165,751) (165,751)
13-Feb-23 Vanguard Investments Australia Ltd. BUY 7.07 Ordinary 20,215 20,215
15-Feb-23 Vanguard Investments Australia Ltd. BUY 7.06 Ordinary 12,132 12,132
16-Feb-23 Vanguard Investments Australia Ltd. BUY 7.01 Ordinary 20,225 20,225
16-Feb-23 Vanguard Investments Australia Ltd. BUY 7.01 Ordinary 12,135 12,135
17-Feb-23 Vanguard Investments Australia Ltd. BUY 6.85 Ordinary 41,808 41,808
20-Feb-23 Vanguard Investments Australia Ltd. BUY 6.77 Ordinary 3,552 3,552
20-Feb-23 Vanguard Investments Australia Ltd. BUY 6.77 Ordinary 12,147 12,147
21-Feb-23 Vanguard Investments Australia Ltd. BUY 6.81 Ordinary 39,135 39,135
21-Feb-23 Vanguard Investments Australia Ltd. SELL 6.81 Ordinary (156,540) (156,540)
22-Feb-23 Vanguard Investments Australia Ltd. BUY 7.02 Ordinary 26,110 26,110
22-Feb-23 Vanguard Investments Australia Ltd. BUY 7.02 Ordinary 12,171 12,171
23-Feb-23 Vanguard Investments Australia Ltd. SELL 6.93 Ordinary (3,561) (3,561)
23-Feb-23 Vanguard Investments Australia Ltd. BUY 6.93 Ordinary 16,236 16,236
24-Feb-23 Vanguard Investments Australia Ltd. BUY 7.01 Ordinary 3,563 3,563
24-Feb-23 Vanguard Investments Australia Ltd. BUY 7.01 Ordinary 3,563 3,563
27-Feb-23 Vanguard Investments Australia Ltd. BUY 6.89 Ordinary 12,195 12,195
28-Feb-23 Vanguard Investments Australia Ltd. SELL 7.00 Ordinary (5,245) (5,245)
28-Feb-23 Vanguard Investments Australia Ltd. BUY 7.00 Ordinary 12,198 12,198
1-Mar-23 Vanguard Investments Australia Ltd. BUY 7.06 Ordinary 39,420 39,420
1-Mar-23 Vanguard Investments Australia Ltd. SELL 7.06 Ordinary (47,304) (47,304)
2-Mar-23 Vanguard Investments Australia Ltd. BUY 7.11 Ordinary 12,222 12,222
2-Mar-23 Vanguard Investments Australia Ltd. BUY 7.11 Ordinary 12,222 12,222
3-Mar-23 Vanguard Investments Australia Ltd. BUY 7.20 Ordinary 34,502 34,502
6-Mar-23 Vanguard Investments Australia Ltd. BUY 7.14 Ordinary 8,154 8,154
7-Mar-23 Vanguard Investments Australia Ltd. BUY 7.33 Ordinary 8,156 8,156
7-Mar-23 Vanguard Investments Australia Ltd. BUY 7.33 Ordinary 12,234 12,234
9-Mar-23 Vanguard Investments Australia Ltd. BUY 7.40 Ordinary 6,654 6,654
9-Mar-23 Vanguard Investments Australia Ltd. BUY 7.38 Ordinary 27,654 27,654
10-Mar-23 Vanguard Investments Australia Ltd. BUY 7.20 Ordinary 40,275 40,275
10-Mar-23 Vanguard Investments Australia Ltd. BUY 7.20 Ordinary 24,666 24,666
13-Mar-23 Vanguard Investments Australia Ltd. SELL 7.24 Ordinary (29,557) (29,557)
13-Mar-23 Vanguard Investments Australia Ltd. BUY 7.24 Ordinary 8,222 8,222
14-Mar-23 Vanguard Investments Australia Ltd. BUY 7.11 Ordinary 53,760 53,760
14-Mar-23 Vanguard Investments Australia Ltd. BUY 7.11 Ordinary 3,575 3,575
14-Mar-23 Vanguard Investments Australia Ltd. BUY 7.11 Ordinary 24,672 24,672
14-Mar-23 Vanguard Investments Australia Ltd. BUY 7.11 Ordinary 16,448 16,448
15-Mar-23 Vanguard Investments Australia Ltd. BUY 7.17 Ordinary 3,575 3,575
15-Mar-23 Vanguard Investments Australia Ltd. BUY 7.17 Ordinary 12,336 12,336
16-Mar-23 Vanguard Investments Australia Ltd. BUY 6.82 Ordinary 53,800 53,800
16-Mar-23 Vanguard Investments Australia Ltd. BUY 6.82 Ordinary 16,448 16,448
17-Mar-23 Vanguard Investments Australia Ltd. BUY 6.93 Ordinary 150,699 150,699
17-Mar-23 Vanguard Investments Australia Ltd. BUY 6.93 Ordinary 12,336 12,336
20-Mar-23 Vanguard Investments Australia Ltd. SELL 6.74 Ordinary (69,914) (69,914)
21-Mar-23 Vanguard Investments Australia Ltd. BUY 6.77 Ordinary 40,170 40,170
21-Mar-23 Vanguard Investments Australia Ltd. BUY 6.77 Ordinary 16,496 16,496
23-Mar-23 Vanguard Investments Australia Ltd. BUY 6.90 Ordinary 12,372 12,372
24-Mar-23 Vanguard Investments Australia Ltd. BUY 6.85 Ordinary 32,196 32,196
24-Mar-23 Vanguard Investments Australia Ltd. BUY 6.85 Ordinary 12,372 12,372
24-Mar-23 Vanguard Investments Australia Ltd. BUY 6.85 Ordinary 8,248 8,248
24-Mar-23 Vanguard Investments Australia Ltd. BUY 6.85 Ordinary 8,248 8,248
27-Mar-23 Vanguard Investments Australia Ltd. BUY 6.74 Ordinary 12,372 12,372
28-Mar-23 Vanguard Investments Australia Ltd. BUY 6.95 Ordinary 8,250 8,250
29-Mar-23 Vanguard Investments Australia Ltd. BUY 6.99 Ordinary 4,125 4,125
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Annexure A

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Consideration
Nature of given in relation Number of securities Person's votes
Date of change Person whose relevant interest changed Change(6) to change(7) Class affected affected
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This is Annexure A of 5 pages referred to in Form 603, Notice of initial substantial holder.

Signature: Name: Shawn Acker Capacity: Compliance Manager Date: 3 April 2023

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