SIMS LIMITED — Major Shareholding Notification 2018

Aug 9, 2018

Form 604

Corporations Law Section 671B

Notice of change of interests of substantial holder

To: Company Name/Scheme SIMS METAL MANAGEMENT LIMITED

ACN/ARSN

114 838 630

1. Details of substantial holder

Name

UBS Group AG and its related bodies corporate

ACN/ARSN (if applicable):

There was a change in the interests of the substantial holder on 8 August 2018 The previous notice was given to the company on 9 August 2018

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:

Class of securities (4)	Previous Notice	Previous Notice	Present Notice	Present Notice
	Person’s Votes	Voting Power (5)	Person’s Votes	Voting Power (5)
Ordinary	17,251,758	8.51%	14,832,298	7.32%

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 of change	Person whose relevant interest changed	Nature of Change (6)	Consideration given in relation to change (7)	Class and Number of securities affected	Person’s votes affected
Please see Appendix B.

4. Present relevant interests

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

Holder of relevant interest	Registered holder of securities	Person entitled to be registered holder (8)	Nature of relevant interest (6)	Class and number of securities	Person’s votes
UBS Asset Management (Americas) Inc	Various Custodians	UBS Asset Management (Americas) Inc	Fund Manager with power to exercise control over voting shares	4,967,799 Ordinary	4,967,799
UBS Asset Management (Australia) Ltd	Various Custodians	UBS Asset Management (Australia) Ltd	Fund Manager with power to exercise control over voting shares	563,578 Ordinary	563,578

UBS Asset Management (Deutschland) GmbH	Various Custodians	UBS Asset Management (Deutschland) GmbH	Fund Manager with power to exercise control over voting shares	5,119 Ordinary	5,119
UBS Asset Management Life Limited	Various Custodians	UBS Asset Management Life Limited	Fund Manager with power to exercise control over voting shares	66,739 Ordinary	66,739
UBS Asset Management Trust Company	Various Custodians	UBS Asset Management Trust Company	Fund Manager with power to exercise control over voting shares	5,231 Ordinary	5,231
UBS Asset Management (UK) Limited	Various Custodians	UBS Asset Management (UK) Limited	Fund Manager with power to exercise control over voting shares	156,072 Ordinary	156,072
UBS Fund Management (Luxembourg) S.A.	Various Custodians	UBS Fund Management (Luxembourg) S.A.	Fund Manager with power to exercise control over voting shares	2,538,254 Ordinary	2,538,254
UBS Fund Management (Switzerland) AG	Various Custodians	UBS Fund Management (Switzerland) AG	Fund Manager with power to exercise control over voting shares	141,192 Ordinary	141,192
UBS AG London Branch	Various Custodians	UBS AG London Branch	Power to control disposal over shares pursuant to stock borrowing and lending activities (see Appendix A)	50,000 Ordinary	50,000
	Various Custodians	UBS AG London Branch	Beneficial Owner	876 Ordinary	876
	Citicorp Nominees Pty Ltd	UBS AG London Branch	Prime Broker that has exercised its borrowing right in respect of shares pursuant to a Prime Broking Agreement (see Appendix A)	28,729 Ordinary	28,729
UBS Securities Australia Ltd	Warbont Nominees Pty Ltd	UBS Securities Australia Ltd	Power to control disposal over shares pursuant to stock borrowing and lending activities (see Appendix A)	6,245,424 Ordinary	6,245,424
	N/A	UBS Securities Australia Ltd	Beneficial Owner	19,100 Options	19,100
UBS AG, Australia Branch	N/A	UBS AG, Australia Branch	Beneficial Owner	44,185 Options	44,185

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
Details of all UBS offices can be found through the following link: http://apps2.ubs.com/locationfinder/

SIGNATURE

Print Name: Sign Here: Print Name: Sign Here:	Serene Peh Capacity: Authorised signatory
	Date: 10 August 2018
	Joanne Chan Capacity: Authorised signatory
	Date: 10 August 2018

Contact details for this notice:

-------------------------------------------------------Serene Peh Compliance & Operational Risk Control (T) +65 6495 5283 --------------------------------------------------------------

Appendix A

Holder of relevant interest	UBS AG, London Branch	UBS AG, London Branch	UBS Securities Australia Ltd
Type of agreement	Securities Lending Agreement	Prime Brokerage Agreement	Securities Lending Agreement
Parties to agreement	(i) UBS AG, London Branch (“UBS AG “)/ UBS Limited (ii) Client (Please refer to Appendix A-1.)	(i) UBS AG, London Branch (“UBS AG”) (ii) Client (Please refer to Appendix A-1.)	(i) UBS AG, Australia Branch (“UBS AG”)/ UBS Securities Australia Limited (ii) Client (Please refer to Appendix A-1.)
Transfer date	Please refer to Appendix A-1.	Please refer to Appendix A-1.	Please refer to Appendix A-1.
Holder of voting rights	UBS AG/ UBS Limited	UBS AG	UBS AG/ UBS Securities Australia Limited
Are there any restrictions on voting rights?	Please refer to the details below.	No.	Please refer to the details below.
If yes, detail	Since all right and title in the securities passes to the transferee (i.e. UBS AG/ UBS Limited), the transferee has the right to vote. However, in certain circumstances, the transferee may seek to arrange for voting rights to be exercised in accordance with the instructions of the transferor (i.e. Client).	N/A	Since all right and title in the securities passes to the transferee (i.e. UBS AG/ UBS Securities Australia Limited), the transferee has the right to vote. However, in certain circumstances, the transferee may seek to arrange for voting rights to be exercised in accordance with the instructions of the transferor (i.e. Client).
Scheduled return date (if any)	None.	None.	None, subject to the terms of the relevant loan.
Does the borrower have the right to return early?	Yes.	Yes.	Yes.
If yes, detail	The borrower (i.e. UBS AG/ UBS Limited) has the right to return at its discretion subject to the terms of the relevant loan.	The borrower (i.e. UBS AG) has the right to return at its discretion.	The borrower (i.e. UBS AG/ UBS Securities Australia Limited) has the right to return at its discretion.
Does the lender have the right to recall early?	Yes.	Yes.	Yes.
If yes, detail	The lender (i.e. Client) can recall at its request subject to compliance with margin requirements and the terms of the relevant loan.	The lender (i.e. Client) can recall at its request subject to compliance with margin requirements and the terms of the relevant loan.	The lender (i.e. Client) can recall at its request subject to compliance with margin requirements and the terms of the relevant loan.
Will the securities be returned on settlement?	Yes.	Yes.	Yes.
If yes, detail any exceptions	None.	None.	None.

The information in this appendix is based on the relevant standard UBS agreement. A copy of the agreement is available to the company, or responsible entity to whom the prescribed form must be given, or to ASIC, upon request.

Appendix A-1

Securities Lending Agreement - UBS AG, London Branch / UBS Limited

Parties to agreement	Transfer date
Securities Finance Trust Company acting as an agent on behalf of its clients	(i) 31 May 2018

Prime Brokerage Agreement - UBS AG, London Branch

Parties to agreement	Transfer date
Integrated Core Strategies (Asia) Pte. Ltd	(i) 27 July 2018 (ii) 30 July 2018 (iii) 31 July 2018 (iv) 1 August 2018 (v) 3 August 2018 (vi) 7 August 2018

Securities Lending Agreement - UBS AG, Australia Branch/ UBS Securities Australia Limited

Parties to agreement	Transfer date
BNP Paribas Securities Services Australia Branch	(i) 2 August 2018 (ii) 3 August 2018 (iii) 6 August 2018
Citibank NA as an agent acting on behalf of its clients	(i) 5 October 2017 (ii) 2 November 2017 (iii) 5 March 2018 (iv) 8 March 2018 (v) 1 August 2018
Macquarie Bank Ltd	(i) 18 October 2017 (ii) 19 October 2017 (iii) 24 October 2017 (iv) 27 October 2017 (v) 30 October 2017 (vi) 31 October 2017 (vii) 3 November 2017 (viii) 12 March 2018 (ix) 13 March 2018
National Australia Bank Limited	(i) 2 August 2018 (ii) 3 August 2018 (iii) 6 August 2018 (iv) 8 August 2018
State Street Bank & Trust Company as an agent acting on behalf of its clients	(i) 7 August 2018

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SGM - Appendix B
Date of change Person whose relevant interest changed Nature of Change Consideration given in Number of securities Class
relation to change
08-Aug-18 UBS Securities Australia Ltd Sell 448,184 (26,036) Ordinary
08-Aug-18 UBS Securities Australia Ltd Buy 832,935 48,449 Ordinary
08-Aug-18 UBS Securities Australia Ltd Buy 17 1 Ordinary
08-Aug-18 UBS Securities Australia Ltd Buy 132,430 7,686 Ordinary
08-Aug-18 UBS Securities Australia Ltd Buy 202,142 11,732 Ordinary
08-Aug-18 UBS Securities Australia Ltd Sell 29,644 (1,730) Ordinary
08-Aug-18 UBS Securities Australia Ltd Sell 28,860 (1,675) Ordinary
08-Aug-18 UBS Securities Australia Ltd Buy 954,910 55,561 Ordinary
08-Aug-18 UBS Securities Australia Ltd Sell 633,125 (37,055) Ordinary
08-Aug-18 UBS Securities Australia Ltd Buy 298,929 17,445 Ordinary
08-Aug-18 UBS Securities Australia Ltd Sell 293,573 (17,110) Ordinary
08-Aug-18 UBS Securities Australia Ltd Buy 17,215 1,000 Ordinary
08-Aug-18 UBS Securities Australia Ltd Buy 55,919 3,251 Ordinary
08-Aug-18 UBS Securities Australia Ltd Sell 85,803 (4,984) Ordinary
08-Aug-18 UBS Securities Australia Ltd Buy 1,899 111 Ordinary
08-Aug-18 UBS Securities Australia Ltd Buy 82,159 4,779 Ordinary
08-Aug-18 UBS Securities Australia Ltd Buy 256,988 15,010 Ordinary
08-Aug-18 UBS Securities Australia Ltd Sell 4,558 (266) Ordinary
08-Aug-18 UBS Securities Australia Ltd Sell 7,044 (409) Ordinary
08-Aug-18 UBS Securities Australia Ltd Sell 28,184 (1,641) Ordinary
08-Aug-18 UBS Securities Australia Ltd Sell 7,048 (409) Ordinary
08-Aug-18 UBS Securities Australia Ltd Sell 11,787 (686) Ordinary
08-Aug-18 UBS Securities Australia Ltd Sell 22,694 (1,327) Ordinary
08-Aug-18 UBS Securities Australia Ltd Buy 22,774 1,327 Ordinary
08-Aug-18 UBS Securities Australia Ltd Buy 6,178 360 Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock borrowed N/A 19,731 Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (93,118) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (86,000) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (33,991) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (45,000) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (12,834) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (50,094) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (3,498) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (23,502) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (3,000) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (48,567) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (145,938) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (51,789) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (45,902) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (9,793) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (33,011) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (113,000) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (200,000) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (39,566) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (73,434) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (50,000) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (13,000) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (62,000) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (10,000) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (18,000) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (240,000) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (1,000) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (350,000) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (25,000) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (11,000) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (28,090) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (8,000) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (79,000) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (1,000) Ordinary
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08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (144,348) Ordinary
08-Aug-18 UBS Securities Australia Ltd Stock returned N/A (361,234) Ordinary
08-Aug-18 UBS AG London Branch Stock received N/A 258 Ordinary
08-Aug-18 UBS AG London Branch Transfer-In N/A 876 Ordinary
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