SCHOOLBLAZER LIMITED — Capital/Financing Update 2020

Mar 19, 2020

19 March 2020

Company Announcements Office Australian Securities Exchange Authorised for immediate release

EXTENSION OF NON-RENOUNCEABLE RIGHTS ISSUE

Further to the announcement lodged earlier in relation to the extension of the Rights Issue, please see attached amended Appendix 3B containing the relevant changes to the timetable.

Please note also the amended timetable has been changed to reflect the announcement of the results of the Rights Issue (at 3C.10) being Tuesday 14 April 2020, to incorporate the Easter public holidays.

Iain Thompson CFO & Company Secretary

Appendix 3B

Proposed issue of +securities

Information and documents given to ASX become ASX's property and may be made public.

If you are an entity incorporated outside Australia and you are proposing to issue a new class of +securities other than CDIs, you will need to obtain and provide an International Securities Identification Number (ISIN) for that class. Similarly, if you are an entity incorporated outside Australia, the +securities proposed to be issued are in an existing class of +security but the event timetable includes a period of rights or +deferred settlement trading, you will need to obtain and provide an ISIN code for the rights and/or the deferred settlement +securities. Further information on the requirement for the notification of an ISIN is available from the Create Online Forms page. ASX is unable to create the new ISIN for non-Australian issuers.

*Denotes minimum information required for first lodgement of this form, with exceptions provided in specific notes for certain questions. The balance of the information, where applicable, must be provided as soon as reasonably practicable by the entity.

Questionno	Question	Answer
1.1	*Name of entityWe (the entity here named)give ASX the followinginformation about a proposedissue of +securities and, if ASXagrees to +quote any of the+securities (including anyrights) on a +deferredsettlement basis, we agree tothe matters set out inAppendix 3B of the ASXListing Rules	HGL Limited
1.2	*Registration type and numberPlease supply your ABN, ARSN,ARBN, ACN or another registrationtype and number (if you supplyanother registration type, pleasespecify both the type of registrationand the registration number).	ABN 25 009 657 961
1.3	*ASX issuer code	HNG
1.4	*This announcement isTick whichever is applicable.	☐ A new announcement☒An update/amendment to a previous announcement☐ A cancellation of a previous announcement
1.4a	*Reason for updateMandatory only if "Update" ticked inQ1.4 above. A reason must beprovided for an update.	Extension of timetable for acceptance of Rights underentitlement offer
1.4b	*Date of previousannouncement to this updateMandatory only if "Update" ticked inQ1.4 above.	5 March 2020

Part 1 – Entity and announcement details

1.4c	*Reason for cancellationMandatory only if "Cancellation" tickedin Q1.4 above.
1.4d	*Date of previousannouncement to thiscancellationMandatory only if "Cancellation" tickedin Q1.4 above.
1.5	*Date of this announcement	19 March 2020
1.6	*The proposed issue is:Note: You can select more than onetype of issue (e.g. an offer ofsecurities under a securities purchaseplan and a placement, however ASXmay restrict certain events from being	☐ A +bonus issue (complete Parts 2 and 8)☒A standard +pro rata issue (non-renounceable orrenounceable) (complete Q1.6a and Parts 3 and 8)☐ An accelerated offer (complete Q1.6b and Parts 3 and 8)
	announced concurrently). Pleasecontact your listing adviser if you areunsure.	☐ An offer of +securities under a +securities purchaseplan (complete Parts 4 and 8)
		☐ A non-+pro rata offer of +securities under a+disclosure document or +PDS (complete Parts 5 and 8)
		☐ A non-+pro rata offer to wholesale investors under aninformation memorandum (complete Parts 6 and 8)
		☐ A placement or other type of issue (complete Parts 7 and8)
1.6a	*The proposed standard +prorata issue is:Answer this question if your responseto Q1.6 is "A standard pro rata issue(non-renounceable or renounceable)."Select one item from the list	☒Non-renounceable☐ Renounceable
1.6b	*The proposed acceleratedoffer is:	☐Accelerated non-renounceable entitlement offer(commonly known as a JUMBO or ANREO)
	Answer this question if your responseto Q1.6 is "An accelerated offer"Select one item from the list	☐ Accelerated renounceable entitlement offer(commonly known as an AREO)
		☐ Simultaneous accelerated renounceable entitlementoffer (commonly known as a SAREO)
		☐ Accelerated renounceable entitlement offer with dualbook-build structure (commonly known as aRAPIDS)
		☐ Accelerated renounceable entitlement offer with retailrights trading (commonly known as a PAITREO)

Part 2 – Details of proposed +bonus issue

If your response to Q1.6 is "A bonus issue", please complete Parts 2A – 2D and the details of the securities proposed to be issued in Part 8. Refer to section 1 of Appendix 7A of the Listing Rules for the timetable for bonus issues.

N / A

Part 3 – Details of proposed entitlement offer

If your response to Q1.6 is "A standard pro rata issue (non-renounceable or renounceable)" or "An accelerated offer", please complete parts 3A, 3F and 3G and the details of the securities proposed to be issued in Part 8. Please also complete Parts 3B and 3C if your response to Q1.6 is "A standard pro rata issue (non-renounceable or renounceable)" and Parts 3D and 3E if your response to Q1.6 is "An accelerated offer". Refer to sections 2,3,4,5 and 6 of Appendix 7A of the Listing Rules for the respective timetables for entitlement offers, including non-renounceable, renounceable and accelerated offers.

QuestionNo.	Question			Answer
3A.1	••••••securities.	*Are any of the following approvals requiredfor the entitlement offer to be unconditional?+Security holder approvalCourt approvalLodgement of court order with +ASICACCC approvalFIRB approvalAnother approval/condition external tothe entity.If any of the above approvals apply to the entitlementoffer, they must be obtained before business day 0 ofthe timetable. The relevant approvals must be receivedbefore ASX can establish an ex market in the		No
3A.1a	Conditionsapproval).	Answer these questions if your response to Q3A.1 is "Yes".Select the applicable approval(s) from the list. More than one approval can be selected. The "date fordetermination" is the date that you expect to know if the approval is given (for example, the date of the securityholder meeting in the case of +security holder approval or the date of the court hearing in the case of court
*Approval/ conditionType		*Date fordetermination	*Is the dateestimated oractual?	**Approval received/condition met?Please respond "Yes" or"No". Only answer thisquestion when you knowthe outcome of theapproval. Please advisebefore +business day 0of the relevant Appendix7A entitlement offertimetable.	Comments
+Security holderapproval
Court approval
Lodgement of courtorder with +ASIC
ACCC approval
FIRB approval
Other (please specifyin comment section)

Part 3A – Proposed entitlement offer – conditions

Part 3B – Proposed standard pro rata issue entitlement offer - offer details

If your response to Q1.6 is "A standard pro rata issue (non-renounceable or renounceable)", please complete the relevant questions in this part.

QuestionNo.	Question	Answer
3B.1	*Class or classes of +securities that willparticipate in the proposed entitlement offer(please enter both the ASX security code &description)	HNG: Ordinary Fully Paid
	If more than one class of security will participate in theproposed entitlement offer, make sure you clearlyidentify any different treatment between the classes.
3B.2	*Class of +securities that will be issued inthe proposed entitlement offer (please enterboth the ASX security code & description)	HNG: Ordinary Fully Paid
3B.3	*Offer ratioEnter the quantity of additional securities to be offeredfor a given quantity of securities held (for example, 1for 2 means 1 new security will be offered for every 2existing securities held).Please only enter whole numbers (for example, anentitlement offer of 1 new security for every 2.5 existingsecurities held should be expressed as "2 for 5").	1 for 4
3B.4	*What will be done with fractionalentitlements?	☒Fractions rounded up to the next wholenumber
	Select one item from the list.	☐Fractions rounded down to the nearestwhole number or fractions disregarded
		☐Fractions sold and proceeds distributed
		☐Fractions of 0.5 or more rounded up
		☐Fractions over 0.5 rounded up
		☐Not applicable
3B.5	*Maximum number of +securities proposedto be issued (subject to rounding)	15,537,397
3B.6	*Will individual +security holders bepermitted to apply for more than theirentitlement (i.e. to over-subscribe)?	Yes
3B.6a	*Describe the limits on over-subscriptionAnswer this question if your response to Q3B.6 is"Yes".	Eligible Securityholders may apply forAdditional New Shares above their pro rataEntitlements. Additional New Shareswill onlybe issued out of any Entitlements whichhave not been taken up under theEntitlement Offer
3B.7	*Will a scale back be applied if the offer isover-subscribed?	Yes
3B.7a	*Describe the scale back arrangementsAnswer this question if your response to Q3B.7 is"Yes".	The Directors reserve the right to scale backany application for Additional New Sharesabove a securityholder's pro rata Entitlementin their absolute discretion
3B.8	*In what currency will the offer be made?	AUD
	For example, if the consideration for the issue ispayable in Australian Dollars, state AUD.

3B.9	*Has the offer price been determined?	Yes
3B.9a	*What is the offer price per +security?Answer this question if your response to Q3B.9 is "Yes"using the currency specified in your answer to Q3B.8.	0.25
3B.9b	*How and when will the offer price bedetermined?Answer this question if your response to Q3B.9 is "No".

Part 3C – Proposed standard pro rata issue – timetable

If your response to Q1.6 is "A standard pro rata issue (non-renounceable or renounceable)", please complete the relevant questions in this part.

QuestionNo.	Question	Answer
3C.1	*+Record dateRecord date to identify security holders entitled toparticipate in the issue. Per Appendix 7A sections 2and 3 the record date must be at least 3 business daysfrom the announcement date (day 0)	Tuesday March 10, 2020
3C.2	*Ex datePer Appendix 7A sections 2 and 3 the Ex Date is onebusiness day before the record date. For renounceableissues, this is also the date that rights will commencequotation on a deferred settlement basis.	Monday March 9, 2020
3C.3	*Date rights trading commencesFor renounceable issues only - this is the date thatrights will commence quotation initially on a deferredsettlement basis
3C.4	*Record dateSame as Q3C.1 above	Tuesday March 10, 2020
3C.5	*Date on which offer documents will be sentto +security holders entitled to participate inthe +pro rata issueThe offer documents can be sent to security holders asearly as business day 4 but must be sent no later thanbusiness day 6. Business day 6 is the last day for theoffer to open.For renounceable issues, deferred settlement trading inrights ends at the close of trading on this day. Tradingin rights on a normal (T+2) settlement basis will startfrom market open on the next business day (i.e.business day 7) provided that the entity tells ASX by12pm Sydney time that the offer documents have beensent or will have been sent by the end of the day.	Friday March 13, 2020
3C.6	*Offer closing dateOffers close at 5pm on this day. The date must be atleast 7 business days after the entity announces thatthe offer documents have been sent to holders.	Tuesday April 7, 2020
3C.7	*Last day to extend the offer closing dateAt least 3 business days' notice must be given toextend the offer closing date.	Thursday April 2, 2020
3C.8	*Date rights trading endsFor renounceable issues only - rights trading ends atthe close of trading 5 business days before theapplications closing date.

3C.9	*Trading in new +securities commences ona deferred settlement basisNon-renounceable issues - the business day after theoffer closing dateRenounceable issues – the business day after the daterights trading ends	Wednesday 8 April, 2020
3C.10	*Last day for entity to announce the resultsof the offer to ASX, including the numberand percentage of +securities taken up byexisting +security holders and any shortfalltaken up by underwriters or other investorsNo more than 3 business days after the offer closingdate	Tuesday 14 April, 2020
3C.11	*Issue datePer Appendix 7A section 2 and section 3, the issuedate should be no more than 5 business days after theoffer closes date (the last day for the entity to issue thesecurities taken up in the pro rata issue and lodge anAppendix 2A with ASX to apply for quotation of thesecurities). Deferred settlement trading will end atmarket close on this day.	Tuesday 14 April, 2020
3C.12	*Date trading starts on a normal T+2 basisPer Appendix 7A section 2 and 3 this is one businessday after the issue date.	Wednesday 15 April, 2020
3C.13	*First settlement date of trades conductedon a +deferred settlement basis and on anormal T+2 basisPer Appendix 7A section 2 and 3 1 this is two businessdays after trading starts on a normal T+2 basis (3business days after the issue date).	Friday 17 April, 2020

Part 3D – Proposed accelerated offer – offer details

QuestionNo.	Question	Answer
3D.1	*Class or classes of +securities that willparticipate in the proposed entitlement offer(please enter both the ASX security code &description)If more than one class of security will participate in theproposed entitlement offer, make sure you clearlyidentify any different treatment between the classes.
3D.2	*Class of +securities that will issued in theproposed entitlement offer (please enterboth the ASX security code & description)
3D.3	*Has the offer ratio been determined?	Yes or No
3D.3a	*Offer ratio	for
	Answer this question if your response to Q3D.3 is"Yes" or "No". If your response to Q3D.3 is "No" pleaseprovide an indicative ratio and state as indicative.
	Enter the quantity of additional securities to be offeredfor a given quantity of securities held (for example, 1for 2 means 1 new security will be offered for every 2existing securities held).
	Please only enter whole numbers (for example, anentitlement offer of 1 new security for every 2.5 existingsecurities held should be expressed as "2 for 5").

3D.3b	*How and when will the offer ratio bedetermined?Answer this question if your response to Q3D.3 is "No".Note that once the offer ratio is determined, this mustbe provided via an update announcement.
3D.4	*What will be done with fractionalentitlements?	☐ Fractions rounded up to the next wholenumber
	Select one item from the list.	☐ Fractions rounded down to the nearestwhole number or fractions disregarded
		☐ Fractions sold and proceeds distributed
		☐ Fractions of 0.5 or more rounded up
		☐ Fractions over 0.5 rounded up
		☐ Not applicable
3D.5	*Maximum number of +securities proposedto be issued (subject to rounding)
3D.6	*Will individual +security holders bepermitted to apply for more than theirentitlement (i.e. to over-subscribe)?	Yes or No
3D.6a	*Describe the limits on over-subscriptionAnswer this question if your response to Q3D.6 is"Yes".
3D.7	*Will a scale back be applied if the offer isover-subscribed?	Yes or No
3D.7a	*Describe the scale back arrangementsAnswer this question if your response to Q3D.7 is"Yes".
3D.8	*In what currency will the offer be made?For example, if the consideration for the issue ispayable in Australian Dollars, state AUD.
3D.9	*Has the offer price for the institutional offerbeen determined?	Yes or No
3D.9a	*What is the offer price per +security for theinstitutional offer?Answer this question if your response to Q3D.9 is"Yes" using the currency specified in your answer toQ3D.8.
3D.9b	*How and when will the offer price for theinstitutional offer be determined?Answer this question if your response to Q3D.9 is "No".
3D.9c	*Will the offer price for the institutional offerbe determined by way of a bookbuild?Answer this question if your response to Q3D.9 is "No".If your response to this question is "yes", please notethe information that ASX expects to be announcedabout the results of the bookbuild set out insection 4.12 of Guidance Note 30 Notifying an Issue of	Yes or No
3D.9d	Securities and Applying for their Quotation.*Provide details of the parameters that willapply to the bookbuild for the institutionaloffer (e.g. the indicative price range for thebookbuild)Answer this question if your response to Q3D.9 is "No"and your response to Q5B.9c is "Yes".

3D.10	*Has the offer price for the retail offer beendetermined?	Yes or No
3D.10a	*What is the offer price per +security for theretail offer?Answer this question if your response to Q3D.10 is"Yes" using the currency specified in your answer toQ3B.8.
3D.10b	*How and when will the offer price for theretail offer be determined?Answer this question if your response to Q3D.10 is"No".

Part 3E – Proposed accelerated offer – timetable

If your response to Q1.6 is "An accelerated offer", please complete the relevant questions in this Part.Per

QuestionNo.	Question	Answer
3E.1a	*First day of trading haltThe entity is required to announce the accelerated offerand give a completed Appendix 3B to ASX. If theaccelerated offer is conditional on security holderapproval or any other requirement, that condition musthave been satisfied and the entity must haveannounced that fact to ASX. An entity should alsoconsider the rights of convertible security holders toparticipate in the issue and what, if any, notice needsto be given to them in relation to the issue
3E.1b	*Announcement date of accelerated offer
3E.2	*Trading resumes on an ex-entitlementbasis (ex date)For JUMBO, ANREO, AREO, SAREO, RAPIDs offers
3E.3	*Trading resumes on ex-rights basisFor PAITREO offers only
3E.4	*Rights trading commencesFor PAITREO offers only
3E.5	*Date offer will be made to eligibleinstitutional +security holders
3E.6	*Application closing date for institutional+security holders
3E.7	*Institutional offer shortfall book build dateFor AREO, SAREO, RAPIDs, PAITREO offers
3E.8	*Announcement of results of institutionalofferThe announcement should be made before theresumption of trading following the trading halt.
3E.9	*+Record dateRecord date to identify security holders entitled toparticipate in the offer. Per Appendix 7A sections 4, 5and 6 the record date must be at least 2 business daysfrom the announcement date (day 0).

3E.10	*Settlement date of new+securities issuedunder institutional entitlement offerIf DvP settlement applies, provided the Appendix 2A isgiven to ASX before noon (Sydney time) this day,normal trading in the securities will apply on the nextbusiness day, and if DvP settlement does not apply onthe business day after that.
3E11	*+Issue date for institutional+securityholders
3E.12	*Normaltrading of new+securities issuedunder institutional entitlement offer
3E13	*Date on which offer documents will be sentto retail+security holders entitled toparticipate in the +pro rata issueThe offer documents can be sent to security holders asearly as business day 4 but must be sent no later thanbusiness day 6. Business day 6 is the last day for theoffer to open. For renounceable offers, deferredsettlement trading in rights ends at the close of tradingon this day. Trading in rights on a normal (T+2)settlement basis will start from market open on the nextbusiness day (i.e. business day 7) provided that theentity tells ASX by 12pm Sydney time that the offerdocuments have been sent or will have been sent bythe end of the day.
3E14	*Offer closing date for retail+securityholdersOffers close at 5pm on this day. The date must be atleast 7 business days after the entity announces thatthe offer documents have been sent to holders.
3E15	*Last day to extend the retail offer closingdateAt least 3 business days' notice must be given toextend the offer closing date.
3E.16	*Rights trading end dateFor PAITREO offers only
3E.17	*Trading in new+securities commences ona deferred settlement basisFor PAITREO offers onlyThe business day afterrights trading end date
3E18	*Entity announces results of the retail offerto ASX, including the number andpercentage of+securities taken up byexisting retail+security holders
3E.19	*Bookbuild for any shortfall (if applicable)For all offers except JUMBO, ANREO
3E.20	*Entity announces results of bookbuild(including any information about thebookbuild expected to be disclosed undersection 4.12 of Guidance Note 30)For all offers except JUMBO, ANREO
3E21	*+Issuedate for retail+security holdersPer Appendix 7A section 2 and section 3, theissuedate should be no more than 5 business days after theoffer closes date. This is the last day for the entity toissue the securities taken up in the pro rata issue andlodge an Appendix 2A with ASX to apply for quotationof the securities. Deferred settlement trading will end atmarket close on this day.

3E.22	*Date trading starts on a normal T+2 basisFor PAITREO offers onlyThis is one business day after the issue date.
3E.23	*First settlement date of trades conductedon a +deferred settlement basis and on anormal T+2 basis
	For PAITREO offers onlyThis is two business days after trading starts on anormal T+2 basis (3 business days after the issuedate).

Part 3F – Proposed entitlement offer – fees and expenses

QuestionNo.	Question	Answer
3F.1	*Will there be a lead manager or broker tothe proposed offer?	No
3F.1a	*Who is the lead manager/broker?Answer this question if your response to Q3F.1 is"Yes".
3F.1b	*What fee, commission or otherconsideration is payable to them for actingas lead manager/broker?Answer this question if your response to Q3F.1 is"Yes".
3F.2	*Is the proposed offer to be underwritten?	Yes
3F.2a	*Who are the underwriter(s)?Answer this question if your response to Q3F.2 is"Yes".Note for issuers that are an ASX Listing (i.e. not anASX Debt Listing or ASX Foreign Exempt Listing): Ifyou are seeking to rely on listing rule 7.2 exception 2 toissue the securities without security holder approvalunder listing rule 7.1 and without using your placementcapacity under listing rules 7.1 or 7.1A, you mustinclude the details asked for in this and the next 3questions.	Sery Pty Limited (ACN 008 392 989) (Sery)Supervised Investments Australia Limited asInvestment Manager of The SupervisedFund (ACN 125 580 305)(Supervised)Ms I. Constable
3F.2b	*What is the extent of the underwriting (i.e.the amount or proportion of the offer that isunderwritten)?Answer this question if your response to Q3F.2 is"Yes".	53.04%
3F.2c	*What fees, commissions or otherconsideration are payable to them for actingas underwriter(s)?Answer this question if your response to Q3F.2 is"Yes".This includes any applicable discount the underwriterreceives to the issue price payable by participants inthe issue.	Nil

3F.2d	*Provide a summary of the significantevents that could lead to the underwritingbeing terminatedAnswer this question if your response to Q3F.2 is"Yes".You may cross-refer to a disclosure document, PDS,information memorandum, investor presentation orother announcement with this information provided ithas been released on the ASX Market AnnouncementsPlatform.	None
3F.2e	*Is a party referred to in listing rule 10.11underwriting or sub-underwriting theproposed offer?Answer this question if the issuer is an ASX Listing (i.e.not an ASX Debt Listing or ASX Foreign ExemptListing) and your response to Q3F.2 is "Yes".	Yes
3F.2e(i)	*What is the name of that party?Answer this question if the issuer is an ASX Listing andyour response to Q3F.2e is "Yes".Note: If you are seeking to rely on listing rule 10.12exception 2 to issue the securities to the underwriter orsub-underwriter without security holder approval underlisting rule 10.11, you must include the details askedfor in this and the next 2 questions. If there is morethan one party referred to in listing rule 10.11 acting asunderwriter or sub-underwriter include all of theirdetails in this and the next 2 questions.	Sery Pty Limited (ACN 008 392 989) (Sery)Supervised Investments Australia Limited asInvestment Manager of The SupervisedFund (ACN 125 580 305)(Supervised)Ms I. Constable
3F.2e(ii)	*What is the extent of their underwriting orsub-underwriting (i.e. the amount orproportion of the issue they haveunderwritten or sub-underwritten)?Answer this question if the issuer is an ASX Listing andyour response to Q3F.2e is "Yes".	Sery is underwriting in full the participationby all parties listed on the Sery SubstantialShareholder notice lodged with ASX on 17January 2020.Supervised and Ms I. Constable areunderwriting in full the participation by allparties listed on the Constable SubstantialShareholder notice lodged with ASX on 7January 2020
3F.2e(iii)	*What fee, commission or otherconsideration is payable to them for actingas underwriter or sub-underwriter?Answer this question if the issuer is an ASX Listing andyour response to Q3F.2e is "Yes".Note: This includes any applicable discount theunderwriter or sub-underwriter receives to the issueprice payable by participants in the issue.	Nil
3F.3	*Will brokers who lodge acceptances orrenunciations on behalf of eligible +securityholders be paid a handling fee orcommission?	No
3F.3a	*Will the handling fee or commission bedollar based or percentage based?Answer this question if your response to Q3F.3 is"Yes".	N/A
3F.3b	*Amount of handling fee or commissionpayable to brokers who lodge acceptancesor renunciations on behalf of eligible+security holdersAnswer this question if your response to Q3F.3 is "Yes"and your response to Q3F.3a is "dollar based".	$

3F.3c	*Percentage handling fee or commissionpayable to brokers who lodge acceptancesor renunciations on behalf of eligible+security holdersAnswer this question if your response to Q3F.3 is "Yes"and your response to Q3F.3a is "percentage based".	%
3F.3d	Please provide any other relevantinformation about the handling fee orcommission methodAnswer this question if your response to Q3F.3 is"Yes".
3F.4	Details of any other material fees or costs tobe incurred by the entity in connection withthe proposed offer	Legal costs standard for this type of issue

Part 3G – Proposed entitlement offer – further information

QuestionNo.	Question	Answer
3G.1	*The purpose(s) for which the entity intendsto use the cash raised by the proposedissueYou may select one or more of the items in the list.	☒For additional working capital☒To fund the retirement of debt☐ To pay for the acquisition of an asset[provide details below]☐ To pay for services rendered [providedetails below]☐ Other [provide details below]Additional details:
3G.2	*Will holdings on different registers orsubregisters be aggregated for thepurposes of determining entitlements to theissue?	No
3G.2a	*Please explain how holdings on differentregisters or subregisters will be aggregatedfor the purposes of determiningentitlements.Answer this question if your response to Q3G.2 is"Yes".
3G.3	*Will the entity be changing itsdividend/distribution policy if the proposedissue is successful?	No
3G.3a	*Please explain how the entity will changeits dividend/distribution policy if theproposed issue is successfulAnswer this question if your response to Q3G.3 is"Yes".

3G.4	*Countries in which the entity has +securityholders who will not be eligible to participatein the proposed issueFor non-renounceable issues (includingaccelerated): The entity must send each holder towhom it will not offer the securities details of the issueand advice that the entity will not offer securities tothem (listing rule 7.7.1(b)).For renounceable issues (including accelerated):The entity must send each holder to whom it will notoffer the securities details of the issue and advice thatthe entity will not offer securities to them. It must alsoappoint a nominee to arrange for the sale of theentitlements that would have been given to thoseholders and to account to them for the net proceeds ofthe sale and advise each holder not given theentitlements that a nominee in Australia will arrange forsale of the entitlements and, if they are sold, for the netproceeds to be sent to the holder (listing rule 7.7.1(b)	France, Hong Kong, Indonesia, Israel,Mauritius, Singapore, United States ofAmerica
3G.5	and (c)).*Will the offer be made to eligiblebeneficiaries on whose behalf eligiblenominees or custodians hold existing+securities	Yes
3G.5a	*Please provide further details of the offer toeligible beneficiariesAnswer this question if your response to Q3G.5 is"Yes".If, for example, the entity intends to issue a notice toeligible nominees and custodians please indicate herewhere it may be found and/or when the entity expectsto announce this information. You may enter a URL.	Information for Nominees and Custodians iscontained in the offer booklet. The ShareRegistry will communicate with Nomineesand Custodians in due course
3G.6	*URL on the entity's website whereinvestors can download information aboutthe proposed issue	https://HGLEntitlementOffer.thereachagency.com
3G.7	Any other information the entity wishes toprovide about the proposed issue
3G.8	*Will the offer of rights under the rights issuebe made under a disclosure document orproduct disclosure statement under Chapter6D or Part 7.9 of the Corporations Act (asapplicable)?	No

Part 4 – Details of proposed offer under +securities purchase plan

If your response to Q1.6 is "An offer of securities under a securities purchase plan", please complete Parts 4A – 4F and the details of the securities proposed to be issued in Part 8. Refer to section 12 of Appendix 7A of the Listing Rules for the timetable for securities purchase plans.

N / A

Part 5 – Details of proposed non-pro rata offer under a +disclosure document or +PDS

If your response to Q1.6 is "A non-pro rata offer of securities under a disclosure document or PDS", please complete Parts 5A – 5F and the details of the securities proposed to be issued in Part 8. Refer to Listing Rule 7.10 for the rules that apply to non-pro rata issues to existing security holders.

N / A

Part 6 – Details of proposed non-pro rata offer to wholesale investors under an +information memorandum

If your response to Q1.6 is "A non-+pro rata offer to wholesale investors under an information memorandum", please complete Parts 6A – 6F and the details of the securities proposed to be issued in Part 8. Refer to Listing Rule 7.10 for the rules that apply to non-pro rata issues to existing security holders.

N / A

Part 7 – Details of proposed placement or other issue

If your response to Q1.6 is "A placement or other type of issue", please complete Parts 7A – 7F and the details of the securities proposed to be issued in Part 8.

N / A

Part 8 – details of +securities proposed to be issued

Answer the relevant questions in this part for the type of +securities the entity proposes to issue. If the entity is proposing to issue more than one class of security, including free attaching securities, please complete a separate version of Part 8 for each class of security proposed to be issued.

N / A

Introduced 01/12/19; amended 31/01/20