SPH Notice – Mitsubishi UFJ Financial Group, Inc

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Disclosure of movement of 1% or more in substantial holding
or change in nature of relevant interest, or both
Sections 277 and 278, Financial Markets Conduct Act 2013
To NZX Limited
and
To EROAD Ltd (ERD)
Relevant event being disclosed: Movement of 1% or more in substantial holding and
change in the nature of relevant interest in the substantial holding
Date of relevant event: 24 September, 2020
Date this disclosure made: 29 September, 2020
Date last disclosure made: 8 August, 2019
Substantial product holder(s) giving disclosure
Full name(s): Mitsubishi UFJ Financial Group, Inc., First Sentier Investors (Australia) IM Ltd,
Summary of substantial holding
Class of quoted voting products: Ordinary Shares (security code: NZERDE0001S5)
Summary for Mitsubishi UFJ Financial Group, Inc., First Sentier Investors (Australia) IM Ltd,
For this disclosure,—
(a) total number held in class: 5,400,060
(b) total in class: 79,070,851
(c) total percentage held in class: 6.829%
For last disclosure,—
(a) total number held in class: 5,996,809
(b) total in class: 68,278,772
(c) total percentage held in class: 8.783%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure:
For transaction details relating to subsidiaries of Mitsubishi UFJ Financial Group, Inc. see
Annexure A.
For transaction details relating to the Morgan Stanley group see Annexure C.

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Details after relevant event

Details for Mitsubishi UFJ Financial Group, Inc.
Nature of relevant interest(s): Deemed relevant interest by reason of being a holding
company and a related company of First Sentier Investors (Australia) IM Ltd and being
deemed to have the same relevant interests as are disclosed by First Sentier Investors
(Australia) IM Ltd in this notice.
For that relevant interest,—
(a) number held in class: 5,341,109
(b) percentage held in class: 6.755%
(c) current registered holder(s): unknown
(d) registered holder(s) once transfers are registered: N/A
Nature of relevant interest(s): Deemed relevant interest arising from being a greater
than 20% shareholder in Morgan Stanley and being deemed to have the same relevant
interests as are held in the Morgan Stanley group. The relevant interests held in the
Morgan Stanley group which are included in this disclosure are set out in Annexure B to
this notice.
For that relevant interest,—
(a) number held in class: 58,951
(b) percentage held in class: 0.075%
(c) current registered holder(s): As listed in Annexure B
(d) registered holder(s) once transfers are registered: N/A

Details for First Sentier Investors (Australia) IM Ltd

Nature of relevant interest(s): Relevant interest arising from having the power to
control the exercise of the right to vote attached to securities and/or to control the
exercise of the power to dispose of securities in its capacity as a responsible entity of a
managed investment scheme. The relevant agreement need not be attached under
regulation 139.
(a) number held in class: 5,341,109
(b) percentage held in class : 6.755%
(c) current registered holder(s) : Unknown
(d) registered holder(s) once transfers are registered : N/A

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Nature of relevant interest(s): Deemed relevant interest arising from being a wholly-
owned subsidiary and a related company of Mitsubishi UFJ Financial Group, Inc., which is
deemed to have the same relevant interests as are held in the Morgan Stanley group by
reason of being a greater than 20% shareholder in the Morgan Stanley group. The
relevant interests held in the Morgan Stanley group which are included in this disclosure
are set out in Annexure B to this notice.
For that relevant interest,—
(a) number held in class: 58,951
(b) percentage held in class: 0.075%
(c) current registered holder(s): As listed in Annexure B
(d) registered holder(s) once transfers are registered: N/A

Additional Information
Address(es) of substantial product holder(s):
Mitsubishi UFJ Financial Group, Inc. – 2-7-1, Marunouchi, Chiyoda-ku, Tokyo 100-8330,
Japan
First Sentier Investors (Australia) IM Ltd - Level 5, Tower Three International Towers
Sydney, 300 Barangaroo Avenue, Barangaroo NSW 2000, Australia
Contact details:
Mariko Onda, Phone: +81-3-3240-3003, E-mail:mariko_onda@mufg.jp

Nature of connection between substantial product holders: First Sentier Investors
(Australia) IM Ltd is wholly-owned subsidiaries of Mitsubishi UFJ Financial Group,
Inc.

Name of any other person believed to have given, or believed to be required to give, a
disclosure under the Financial Markets Conduct Act 2013 in relation to the financial
products to which this disclosure relates: Not applicable

Certification
I, Mariko Onda, certify that, to the best of my knowledge and belief, the information
contained in this disclosure is correct and that I am duly authorised to make this disclosure
by all persons for whom it is made.

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Annexure A
Transaction details for subsidiaries of Mitsubishi UFJ Financial Group, Inc.

Date of
Transaction Holder of Relevant Interest
Transaction
Nature Consideration
Class and number of
securities
02-Sep-2020 First Sentier Investors (Australia) IM Ltd Sell 192442.44(NZD) 44700 ORDINARY SHARES
31-Aug-2020 First Sentier Investors (Australia) IM Ltd
Sell
438048(NZD) 105300 ORDINARY SHARES
28-Aug-2020 First Sentier Investors (Australia) IM Ltd
Sell
208000(NZD) 50000 ORDINARY SHARES
13-Aug-2020 First Sentier Investors (Australia) IM Ltd
Sell
1149000(NZD) 300000 ORDINARY SHARES
04-Aug-2020 First Sentier Investors (Australia) IM Ltd
Sell
361040(NZD) 100000 ORDINARY SHARES
03-Aug-2020 First Sentier Investors (Australia) IM Ltd
Sell
170000(NZD) 50000 ORDINARY SHARES
15-Jul-2020 First Sentier Investors (Australia) IM Ltd
Sell
3428.04(NZD) 1078 ORDINARY SHARES
15-Jul-2020 First Sentier Investors (Australia) IM Ltd
Sell
412550.4(NZD) 128922 ORDINARY SHARES
14-Jul-2020 First Sentier Investors (Australia) IM Ltd
Sell
143798.82(NZD) 45078 ORDINARY SHARES
13-Jul-2020 First Sentier Investors (Australia) IM Ltd
Sell
79750.4(NZD) 24922 ORDINARY SHARES
19-Jun-2020 First Sentier Investors (Australia) IM Ltd
Sell
1120000(NZD) 350000 ORDINARY SHARES
10-Jun-2020 First Sentier Investors (Australia) IM Ltd Buy 119959.97(NZD) 44300 ORDINARY SHARES
28-Apr-2020 First Sentier Investors (Australia) IM Ltd
Buy
108150.558(NZD) 46337 ORDINARY SHARES
23-Apr-2020 First Sentier Investors (Australia) IM Ltd
Buy
7802.19(NZD) 3663 ORDINARY SHARES
01-Apr-2020 First Sentier Investors (Australia) IM Ltd
Buy
68889.594(NZD) 34644 ORDINARY SHARES
31-Mar-2020 First Sentier Investors (Australia) IM Ltd
Buy
50134(NZD) 25067 ORDINARY SHARES
27-Mar-2020 First Sentier Investors (Australia) IM Ltd
Buy
31106(NZD) 15553 ORDINARY SHARES
25-Mar-2020 First Sentier Investors (Australia) IM Ltd
Buy
49472(NZD) 24736 ORDINARY SHARES
16-Mar-2020 First Sentier Investors (Australia) IM Ltd
Buy
90076.4096(NZD) 38816 ORDINARY SHARES
13-Mar-2020 First Sentier Investors (Australia) IM Ltd
Buy
25723.2(NZD) 11184 ORDINARY SHARES
24-Sep-2019 First Sentier Investors (Australia) IM Ltd
Buy
623780.45(NZD) 211451 ORDINARY SHARES
23-Sep-2019 First Sentier Investors (Australia) IM Ltd
Buy
260369.4796(NZD) 88549 ORDINARY SHARES

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Annexure B
Relevant interests held in the Morgan Stanley group

List of Morgan Stanley and its subsidiaries that have a relevant interest or are
deemed to have a relevant interest in the shares.





Details for Morgan Stanley Australia Securities Limited

Nature of relevant interest(s): Shares held or in respect of which the holder may
exercise the control over disposal in the ordinary course of sales and trading
businesses. The relevant agreements need not be attached under regulation 139.

For that relevant interest,-

(a) number held in class: 735

(b) percentage held in class : 0.001%

(c) current registered holder(s) : Morgan Stanley Australia Securities (Nominee) Pty
Limited

(d) registered holder(s) once transfers are registered : Unknown

Details for Morgan Stanley & Co. International Plc

Nature of relevant interest(s): Shares held or in respect of which the holder may
exercise right to rehypothecate pursuant to the agreement(s).The relevant
agreement document (Prime Brokerage Agreement) has been attached to a
previous disclosure made on 8 August 2019.


For that relevant interest,—

(a) number held in class: 37,074
(b) percentage held in class: 0.047%

(c) current registered holder(s): HSBC Custody Nominees (Australia) Limited

Name
└─┬─Morgan Stanley
├─┬─Morgan Stanley Capital Management, LLC
│ ├─┬─Morgan Stanley Domestic Holdings, Inc.
│ │ ├─┬─Morgan Stanley Wealth Management Australia Pty Ltd
├─┬─Morgan Stanley International Holdings Inc.
│ ├─┬─Morgan Stanley (Australia) Securities Holdings Pty Limited
│ │ └─┬─Morgan Stanley Australia Securities Limited
│ ├─┬─Morgan Stanley International Limited
│ │ ├─┬─Morgan Stanley Investments (UK)
│ │ │ ├─┬─Morgan Stanley & Co. International plc

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(d) registered holder(s) once transfers are registered: Unknown




Details for Morgan Stanley Wealth Management Australia Pty Ltd

Nature of relevant interest(s): Shares held or in respect of which the holder may
exercise control over disposal in the ordinary course of discretionary managed business.
The relevant agreements need not be attached under regulation 139.

For that relevant interest,—

(a) number held in class: 21,142
(b) percentage held in class: 0.027%

(c) current registered holder(s): Morgan Stanley Wealth Management Australia Pty
discretionary client account

(a) registered holder(s) once transfers are registered: Unknown



Annexure C
Transaction details for the Morgan Stanley group

Date of
Transaction
Holder of Relevant Interest
Transaction
Nature
Consideration
Class and number of
securities
9/23/2020
Morgan Stanley Australia Securities
Limited
Buy 370.50 (AUD) 95 Ordinary Shares
9/23/2020
Morgan Stanley Australia Securities
Limited
Buy 391.88 (AUD) 101 Ordinary Shares
9/24/2020
Morgan Stanley Australia Securities
Limited
Buy
1,994.30
(AUD)
539 Ordinary Shares
9/24/2020 Morgan Stanley & Co. International plc
Increase in
shares held or in
respect of which
the holder may
exercise right to
rehypothecate
pursuant to the
agreement(s)
N/A 37,074 Ordinary Shares