XREF LIMITED — Major Shareholding Notification 2018

Mar 15, 2018

Form 603 Corporations Act 2001 Section 671B

Notice of Initial Substantial Holder

To: XREF LTD

ACN/ARSN:

1. Details of substantial holder (1)

Name: FIL Limited and the entities listed in Annexure A ("FIL") ACN/ARSN (if applicable)

The holder became a substantial holder on

14 March 2018

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)
COMMON STOCK	8,435,033	8,435,033	5.71%

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:

Refer to Annexure A

4. Details of present registered holders

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

Refer to Annexure A

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:

Date of Acquisition	Holder of	Consideration (9)	Class and
	Relevant Interest		Number of Securities
			COMMON STOCK
03/14/2018	FIL	AUD 0.60	562,753
03/14/2018	FIL	AUD0.60	110,168
03/14/2018	FIL	AUD 0.60	2,577,185
03/14/2018	FIL	AUD 0.60	357,848
03/14/2018	FIL	AUD0.60	1,437,904
03/14/2018	FIL	AUD 0.60	288,408
03/14/2018	FIL	AUD0.60	635,674
03/14/2018	FIL	AUD 0.60	2,465,093

Total Buys

8,435,033

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are all follows:

Name and ACN/ARSN (if applicable) Nature of association N/A

7. Addresses

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

Refer to Annexure A

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Sign Here ______

Dated: 16 March 2018 Kelvin Lo Head of Regulatory Reporting, Asia Pacific Duly authorized under Powers of Attorney by and on behalf of FIL Limited

Annexure A

	Investment Manager	Address	Custodian	Nature of Relevant Interest	Sum of Numerator Shares
			BROWN BROS HARRIMN
					2,577,185
			LTD LUX(C)
			JP MORGAN,
					635,674
		Level 11, 167	BOURNEMOUTH(C)
	FIL INVESTMENT
		Macquarie Street,	NATIONAL ASTL BK
	MANAGEMENT				288,408
		Sydney, NSW 2000,	MELBOURNE(S)
	(AUSTRALIA) LIMITED
		Australia	NORTHERN TRUST
					110,168
			LONDON(C)
			STATE STREET BANK
					562,753
			AND TR CO
				Investment Discretion /
	FIL INVESTMENT
		Level 21, Two Pacific		Voting Power
	MANAGEMENT
		Place, 88 Queensway,	MASTER TRUST BANK OF		357,848
	(HONG KONG)		JAPAN (C)
		Admiralty, Hong Kong
	LIMITED
		Pembroke Hall, 42
	FIL LIMITED	Crow Lane, Pembroke,	HSBC BANK PLC (C)		2,465,093
		Bermuda
		Oakhill House, 130
	FIL PENSION	Tonbridge Road,
			HSBC BANK PLC (C)		1,437,904
	MANAGEMENT	Hildenborough, Kent,
		England TN119DZ
	Grand Total				8,435,033