VEEM LTD — Major Shareholding Notification 2024

May 12, 2024

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme Veem Ltd ACN/ARSN: 51 008 944 009 Source: Australian Business Register 1. Details of substantial holder (1) Name: Perennial Value Management Limited (PVM) ACN/ARSN (if applicable) 22 090 879 904 There was a change in the interest of the substantial holder on 10 May 2024 The previous notice was given to the company on 3 May 2024 The previous notice was dated 3 May 2024

Australian Business Register

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 relavant 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	14,462,704	10.65	15,836,998	11.66

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 & number of securities affected	Person's votes affected
3/05/2024	BNP Paribas Securities Services	Buy on the Market	183,563.03 $	100,654	100,654
3/05/2024	HSBC	Buy on the Market	366,626.37 $	201,034	201,034
3/05/2024	Northern Trust	Buy on the Market	861,893.14 $	472,606	472,606
6/05/2024	BNP Paribas Securities Services	Buy on the Market	245,183.57 $	129,995	129,995
6/05/2024	HSBC	Buy on the Market	489,697.57 $	259,635	259,635
6/05/2024	HSBC	Sell on the Market	867,402.30 $	459,892	459,892
6/05/2024	HSBC	Sell on the Market	26,120.60 $	13,849	13,849
6/05/2024	HSBC	Sell on the Market	992,577.10 $	526,259	526,259
6/05/2024	Northern Trust	Buy on the Market	1,151,218.86 $	610,370	610,370
9/05/2024	BNP Paribas Securities Services	Buy on the Market	261,014.17 $	134,481	134,481
9/05/2024	HSBC	Buy on the Market	516,582.18 $	266,156	266,156
9/05/2024	HSBC	Sell on the Market	885,271.66 $	456,114	456,114
9/05/2024	HSBC	Sell on the Market	1,119,357.79 $	576,721	576,721
9/05/2024	Northern Trust	Buy on the Market	1,227,033.10 $	632,198	632,198
10/05/2024	BNP Paribas Securities Services	Buy on the Market	53,836.93 $	28,650	28,650
10/05/2024	HSBC	Buy on the Market	107,521.66 $	57,219	57,219
10/05/2024	HSBC	Buy on the Market	713,344.05 $	379,615	379,615
10/05/2024	Northern Trust	Buy on the Market	252,772.38 $	134,516	134,516

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 & number of securities (Ord)	Person's votes
Perennial Value Management Limited	HSBC	HSBC	8,981,821	8,981,821	8,981,821
Perennial Value Management Limited	Northern Trust	Northern Trust	2,294,977	2,294,977	2,294,977
Perennial Value Management Limited	BNP Paribas Securities Services	BNP Paribas Securities Services	488,617	488,617	488,617
Perennial Value Management Limited	Citicorp Nominees Pty Limited	Citicorp Nominees Pty Limited	4,071,583	4,071,583	4,071,583

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 & ACN

Nature of association

Not applicable

6. Addresses

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

Name	Address
Perennial Value Management Ltd	Level 27, 88 Phillip St
	SydneyNSW 2000
Veem Ltd	22 Baile Road, Canning Vale, Wa 6155
Signature
Print Name	Bill Anastasopoulos	Capacity	Company Secretary
Sign Here		Date	13/05/2024

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