XREF LIMITED — Major Shareholding Notification 2020

May 6, 2020

Form 605 Corporations Act 2001 Section 671B

Notice of Ceasing to be a Substantial Holder

To: XREF LIMITED

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 ceased to be a substantial holder on The previous notice was given to the company on The previous notice was dated

04 May 2020 04 May 2020 04 May 2020

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3)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	Person	Nature of	Consideration	Class (6) and	Person’s votes
Change	whose	change (4)	given in	number of	affected
	relevant		relation to	securities
	interest		change (5)	affected
	changed
				COMMON	COMMON
				STOCK	STOCK
05/04/2020	FIL	SELL	0.1005 AUD	77,507	77,507
05/04/2020	FIL	SELL	0.1005 AUD	77,507	77,507
05/04/2020	FIL	SELL	0.1005 AUD	200,053	200,053
05/04/2020	FIL	SELL	0.1005 AUD	215,656	215,656
05/04/2020	FIL	SELL	0.1005 AUD	325,255	325,255
05/04/2020	FIL	SELL	0.1005 AUD	1,078,286	1,078,286
			Total Sells	(1,974,264)	(1,974,264)

3. Resulting interest

Class of Securities (4)	Number of securities	Person’s votes (5)	Voting power (6)
COMMON STOCK	7,071,626	7,071,626	3.97%

4. Changes in Association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (7) 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

5. Addresses

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

Refer to Annexure A

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Sign Here ______

Dated: 06 May 2020 Jen Li

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
	FIL INVESTMENT	Level 11, 167	HSBC BANK PLC(C)		4,933,947
	MANAGEMENT	Macquarie Street,	JPMORGAN CHASE BANK
					727,450
	(AUSTRALIA) LIMITED	Sydney, NSW 2000,	NA LDN
		Australia	NATIONAL ASTL BK
					189,118
			MELBOURNE(S)
	FIL LIMITED	Pembroke Hall, 42		Investment Discretion /
		Crow Lane, Pembroke,	STATE STREET BANK	Voting Power	38,394
		Bermuda	AND TR CO
	FIL RESPONSIBLE	Level 11, 167
	ENTITY (AUSTRALIA)	Macquarie Street,	JP MORGAN,
					1,182,717
	LIMITED	Sydney, NSW 2000,	BOURNEMOUTH (C)
		Australia
	Grand Total				7,071,626