TREASURY WINE ESTATES LIMITED — Major Shareholding Notification 2021

Aug 10, 2021

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme Treasury Wine Estates Ltd.

ACN/ARSN

1. Details of substantial holder (1)

Name The Capital Group Companies, Inc. ("CGC"), and its related bodies corporate *

ACN/ARSN (if applicable)

There was a change in the interests of the substantial holder on 09-Aug-2021 The previous notice was given to the company on 16-Mar-2021 The previous notice was dated 16-Mar-2021

• The Capital Group Companies, Inc. (“CGC”) is the parent company of Capital Research and Management Company (“CRMC”) and Capital Bank & Trust Company (“CB&T”). CRMC is a U.S.-based investment management company that serves as investment manager to the American Funds family of mutual funds, other pooled investment vehicles, as well as individual and institutional clients. CRMC and its investment manager affiliates manage equity assets for various investment companies through three divisions, Capital Research Global Investors, Capital International Investors and Capital World Investors. CRMC is the parent company of Capital Group International, Inc. (“CGII”), which in turn is the parent company of five investment management companies (“CGII management companies”): Capital International, Inc., Capital International Limited, Capital International Sàrl,Capital International K.K, and Capital Group Private Client Services, Inc.CGII management companies and CB&T primarily serve as investment managers to institutional and high net worth clients. CB&T is a U.S.-based investment management company that is a registered investment adviser and an affiliated federally chartered bank.

Neither CGC nor any of its affiliates own shares of your company for its own account. Rather, the shares reported on this Notification are owned by accounts under the discretionary investment management of one or more of the investment management companies described above.

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:

follows:
Class of securities(4)	Previous Notice		Present Notice
	Person's votes	Voting power(5)	Person's votes	Voting power(5)
Common Stock	60,779,529	8.42%	68,677,969	9.51%

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
See Annexure "A"

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 as holder(8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
See Annexure "B"

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

6. Addresses

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

of persons named in this form are as follows:
Name	Address
The Capital GroupCompanies, Inc.	333 South Hope Street, 55th Fl, Los Angeles CA 90071, USA
Capital Research and Management Company	333 South Hope Street, 55th Fl, Los Angeles CA 90071, USA

Signature

print name Donald H. Rolfe

sign here

capacity Authorized Signer date 10-Aug-2021

Annexure "A"

3. Changes in relevant interests (from 13-Mar-2021 to 09-Aug-2021 )

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
18-Mar-2021	Capital Research and Management Company	Acquired on market	5,451.04 AUD	496 Common Stock	496
01-Apr-2021	Capital Research and Management Company	Disposed on market	-171,913.84 AUD	-16,594 Common Stock	-16,594
07-Apr-2021	Capital Research and Management Company	Acquired on market	52,923.78 AUD	5,026 Common Stock	5,026
14-Apr-2021	Capital Research and Management Company	Acquired on market	57,914.94 AUD	5,608 Common Stock	5,608
16-Apr-2021	Capital Research and Management Company	Disposed on market	-131,615.69 AUD	-12,716 Common Stock	-12,716
20-Apr-2021	Capital Research and Management Company	Disposed on market	-347,934.28 AUD	-33,969 Common Stock	-33,969
20-Apr-2021	Capital Research and Management Company	Acquired on market	347,934.28 AUD	33,969 Common Stock	33,969
21-Apr-2021	Capital Research and Management Company	Acquired on market	58,135.52 AUD	5,722 Common Stock	5,722
28-Apr-2021	Capital Research and Management Company	Acquired on market	64,127.40 AUD	6,287 Common Stock	6,287
30-Apr-2021	Capital Research and Management Company	Disposed on market	-118,443.22 AUD	-11,769 Common Stock	-11,769
30-Apr-2021	Capital Research and Management Company	Disposed on market	-4,989.76 AUD	-496 Common Stock	-496
04-May-2021	Capital Research and Management Company	Acquired on market	3,143,517.19 AUD	311,227 Common Stock	311,227
14-May-2021	Capital Research and Management Company	Acquired on market	168,054.75 AUD	15,633 Common Stock	15,633
17-May-2021	Capital Research and Management Company	Acquired on market	2,555,521.41 AUD	230,922 Common Stock	230,922
17-May-2021	Capital Research and Management Company	Acquired on market	19,952,151.29 AUD	1,802,167 Common Stock	1,802,167
18-May-2021	Capital Research and Management Company	Acquired on market	15,127,758.12 AUD	1,365,124 Common Stock	1,365,124
26-May-2021	Capital Research and Management Company	Acquired on market	150,401.04 AUD	13,124 Common Stock	13,124
04-Jun-2021	Capital Research and Management Company	Disposed on market	-84,415.72 AUD	-7,071 Common Stock	-7,071
04-Jun-2021	Capital Research and Management Company	Acquired on market	84,415.72 AUD	7,071 Common Stock	7,071

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
25-Jun-2021	Capital Research and Management Company	Disposed on market	-417,701.40 AUD	-35,885 Common Stock	-35,885
25-Jun-2021	Capital Research and Management Company	Acquired on market	417,701.40 AUD	35,885 Common Stock	35,885
14-Jul-2021	Capital Research and Management Company	Disposed on market	-120,880.65 AUD	-10,065 Common Stock	-10,065
14-Jul-2021	Capital Research and Management Company	Acquired on market	23,848.07 AUD	1,999 Common Stock	1,999
15-Jul-2021	Capital Research and Management Company	Disposed on market	-116,366.19 AUD	-9,673 Common Stock	-9,673
20-Jul-2021	Capital Research and Management Company	Disposed on market	-36,046.08 AUD	-3,024 Common Stock	-3,024
28-Jul-2021	Capital Research and Management Company	Acquired on market	2,596,460.20 AUD	220,039 Common Stock	220,039
28-Jul-2021	Capital Research and Management Company	Acquired on market	3,257,375.00 AUD	275,000 Common Stock	275,000
28-Jul-2021	Capital Research and Management Company	Acquired on market	9,492,367.22 AUD	806,050 Common Stock	806,050
29-Jul-2021	Capital Research and Management Company	Acquired on market	383,101.72 AUD	32,302 Common Stock	32,302
29-Jul-2021	Capital Research and Management Company	Acquired on market	7,835,834.98 AUD	655,680 Common Stock	655,680
30-Jul-2021	Capital Research and Management Company	Acquired on market	1,180,000.00 AUD	100,000 Common Stock	100,000
30-Jul-2021	Capital Research and Management Company	Acquired on market	1,689,647.88 AUD	141,868 Common Stock	141,868
30-Jul-2021	Capital Research and Management Company	Acquired on market	2,320,080.64 AUD	195,316 Common Stock	195,316
03-Aug-2021	Capital Research and Management Company	Acquired on market	1,116,657.50 AUD	93,106 Common Stock	93,106
05-Aug-2021	Capital Research and Management Company	Acquired on market	484,353.46 AUD	40,385 Common Stock	40,385
06-Aug-2021	Capital Research and Management Company	Acquired on market	6,471,608.66 AUD	539,701 Common Stock	539,701
09-Aug-2021	Capital Research and Management Company	Acquired on market	3,449,328.82 AUD	287,715 Common Stock	287,715
09-Aug-2021	Capital Research and Management Company	Acquired on market	3,622,825.80 AUD	302,280 Common Stock	302,280
09-Aug-2021	Capital Research and Management Company	Acquired on market	6,117,450.00 AUD	510,000 Common Stock	510,000

This is Annexure "A" referred to in the Form 604 "Notice of change of interests of substantial holder"

The Capital Group Companies, Inc.

Signature

capacity Authorized Signer

print name Donald H. Rolfe

date 10-Aug-2021

sign here

Annexure "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 as holder(8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
Capital Research and Management Company	JPMORGAN CHASE BANK	Capital Research and Management Company	Voting rights and right to dispose	60,580,339 Common Stock	60,580,339
Capital Research and Management Company	STATE STREET BANK AND TRUST COMPANY BOSTON	Capital Research and Management Company	Voting rights and right to dispose	7,550,577 Common Stock	7,550,577
Capital Research and Management Company	STATE STREET BANK NORTH QUINCY	Capital Research and Management Company	Voting rights and right to dispose	478,260 Common Stock	478,260
Capital Research and Management Company	JP MORGAN BANK LUXEMBOURG	Capital Research and Management Company	Voting rights and right to dispose	68,793 Common Stock	68,793

This is Annexure "B" referred to in the Form 604 "Notice of change of interests of substantial holder"

Signature print name sign here	The Capital Group Companies, Inc. Donald H. Rolfe capacity Authorized Signer
	date 11-Aug-2021