SPH Notice – L1 Capital Pty Ltd

To Company Name/ SchemeChorus Limited
ACN/ ARSN152 485 848
1. Details of substantial holder (1)
NameL1 Capital Pty Ltd and each of the entities set out in Section 3
ACN/ ARSN (if applicable)21 125 378 145
There was a change in the interests of the substantial holder on
The previous notice was given to the company on
The previous notice was dated
2. Previous and present voting power
*Based on issued capital of 446,658,327 shares*Based on issued capital of 446,305,292 shares
3. Changes in relevant interests
Date of
change
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:
See
Annexure B
Nature of change (6)
Consideration given in
relation to change (7)
Person whose relevant interest
changed
Person's votes
Class and number of
securities affected
Registered Holder of securities
Person entitled to be
registered as holder (8)
Person's votes (5)Number of securities
6.00%
Person's votesVoting power (5)Person's votes
36,464,794 8.16%26,783,064
Nature of relevant interest
Class and number of
securities
Holder of
relevant
interest
Form 604
Corporations Act 2001
Section 671B
Notice of change of interests of substantial holder
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:
Voting power (5)
FPO
Class of securities (4)
31/10/2022
25/03/2022
25/03/2022
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:
For personal use only

5. Changes in association
6. Addresses
The addresses of persons named in this form are as follows:
Signature
Print nameCapacity
Sign hereDate
DIRECTIONS
(1)
(2)See the definition of "associate" in section 9 of the Corporations Act 2001.
(3)See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
(4)The voting shares of a company constitute one class unless divided into separate classes.
(5)The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
(6)Include details of:
(a)
(b)
See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.
(7)
(8)If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".
(9)Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.
L1 Capital Strategic Equity Management Pty LtdLevel 28, 101 Collins Street, Melbourne, VIC, 3001
Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation
to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial
holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an
equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to
throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the
form.
any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant
interest relates (indicating clearly the particular securities to which the qualification applies).
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:
Nature of association
Name
L1 Capital Pty Ltd
Address
Name and ACN/ ARSN (if applicable)
N/A
Level 28, 101 Collins Street, Melbourne, VIC, 3000
any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out
the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form,
together with a written statement certifying this contract, scheme or arrangement; and
2/11/2022
Jane StewartHead of Compliance
For personal use only

Annexure A
L1 Capital Pty (ABN 21 126 378 145) and L1 Capital Strategic Equity Management Pty Ltd (ABN 87 648 751 928) change in substantial holding in Chorus Limited.
This is Annexure "A" of 1 page referred to in the Form 604 (Notice of Change of interests of Substantial Holder)
Print NameJane StewartCapacityHead of Compliance
Sign HereDate
2/11/2022
Changes in relevant interests
Date of change
Person whose relevant
interest changed
Nature of change (6)
Consideration given in
relation to change (7)
Person's votes
affected
25/03/2022 Entities set out in Section 3 On-Market Sale $ 13,036.01 1,937 FPO 1,937
30/03/2022 Entities set out in Section 3 On-Market Sale $ 469,083.15 69,691 FPO 69,691
31/03/2022 Entities set out in Section 3 On-Market Sale $ 4,339,828.37 638,447 FPO 638,447
1/04/2022 Entities set out in Section 3 On-Market Sale $ 2,440,972.40 362,000 FPO 362,000
4/04/2022 Entities set out in Section 3 On-Market Sale $ 1,436,826.95 216,801 FPO 216,801
7/04/2022 Entities set out in Section 3 On-Market Sale $ 133,824.54 19,685 FPO 19,685
Class and number of securities
affected
For personal use only

8/04/2022 Entities set out in Section 3 On-Market Sale
20,421.96$ 3,021
FPO
3,021
12/04/2022 Entities set out in Section 3 On-Market Sale
7,589.52$ 1,143
FPO
1,143
21/04/2022 Entities set out in Section 3 On-Market Sale
36,045.00$ 5,340
FPO
5,340
22/04/2022 Entities set out in Section 3 On-Market Sale
22,316.68$ 3,316
FPO
3,316
27/04/2022 Entities set out in Section 3 On-Market Sale
16,889.76$ 2,536
FPO
2,536
9/05/2022 Entities set out in Section 3 On-Market Purchase
1,325,613.90$ 202,785
FPO
202,785
12/05/2022 Entities set out in Section 3 On-Market Sale
23,769.60$ 3,714
FPO
3,714
13/05/2022 Entities set out in Section 3 On-Market Sale
170,012.14$ 26,215
FPO
26,215
17/05/2022 Entities set out in Section 3 On-Market Purchase
1,318,989.27$ 202,330
FPO
202,330
23/05/2022 Entities set out in Section 3 On-Market Sale
273,786.50$ 41,364
FPO
41,364
24/05/2022 Entities set out in Section 3 On-Market Sale
20,446.72$ 3,136
FPO
3,136
31/05/2022 Entities set out in Section 3 On-Market Sale
528,726.60$ 81,580
FPO
81,580
1/06/2022 Entities set out in Section 3 On-Market Sale
97,076.33$ 14,715
FPO
14,715
For personal use only

24/06/2022 Entities set out in Section 3 On-Market Sale
368,398.30$ 55,335
FPO
55,335
6/07/2022 Entities set out in Section 3 On-Market Purchase
612,255.81$ 91,946
FPO
91,946
13/07/2022 Entities set out in Section 3 On-Market Sale
250,941.37$ 37,230
FPO
37,230
15/07/2022 Entities set out in Section 3 On-Market Sale
970,273.96$ 141,607
FPO
141,607
26/07/2022 Entities set out in Section 3 On-Market Sale
22,118,863.52$ 3,097,518
FPO
3,097,518
27/07/2022 Entities set out in Section 3 On-Market Sale
701,975.04$ 98,592
FPO
98,592
28/07/2022 Entities set out in Section 3 On-Market Sale
720,785.96$ 101,092
FPO
101,092
28/07/2022 Entities set out in Section 3 On-Market Purchase
Individual portfolio
transition. Trading
completed by Citicorp
Nominees Pty Ltd acting
as Transition Manager.
2,332,056
FPO
2,332,056
29/07/2022 Entities set out in Section 3 On-Market Sale
87,513.04$ 12,200
FPO
12,200
3/08/2022 Entities set out in Section 3 On-Market Sale
1,631,963.28$ 224,142
FPO
224,142
5/08/2022 Entities set out in Section 3 On-Market Sale
283,550.66$ 38,682
FPO
38,682
17/08/2022 Entities set out in Section 3 On-Market Sale
1,736,313.73$ 242,025
FPO
242,025
For personal use only

18/08/2022 Entities set out in Section 3 On-Market Sale
51,615.86$ 7,206
FPO
7,206
30/08/2022 Entities set out in Section 3 On-Market Sale
715,000.00$ 100,000
FPO
100,000
31/08/2022 Entities set out in Section 3 On-Market Sale
3,580,020.00$ 500,000
FPO
500,000
25/10/2022 Entities set out in Section 3 On-Market Sale
2,870,269.27$ 403,411
FPO
403,411
26/10/2022 Entities set out in Section 3 On-Market Sale
567,528.00$ 80,000
FPO
80,000
27/10/2022 Entities set out in Section 3 On-Market Sale
2,695,892.05$ 377,166
FPO
377,166
31/10/2022 Entities set out in Section 3 On-Market Sale
41,914,950.00$ 5,500,000
FPO
5,500,000
For personal use only

Annexure B
L1 Capital Pty (ABN 21 126 378 145) and L1 Capital Strategic Equity Management Pty Ltd (ABN 87 648 751 928) change in substantial holding in Chorus Limited.
This is Annexure "B" of 1 page referred to in the Form 604 (Notice of Change of interests of Substantial Holder)
Print NameJane StewartCapacityHead of Compliance
Sign HereDate
2/11/2022
Details of present relevant interests
Holder of relevant interestRegistered holder of securities
National Nominees Limited1,009,449 FPO
State Street Australia Limited (SSAL)1,709,834 FPO
Goldman Sachs International7,967,987 FPO
Morgan Stanley & Co. International PLC8,100,865 FPO
Citicorp Nominees Pty Ltd7,114,220 FPO
State Street Australia Limited (SSAL)880,709 FPO
26,783,064
L1 Capital Strategic Equity Management Pty LtdState Street Australia Limited (SSAL)
L1 Capital Pty Ltd
L1 Capital Pty Ltd
State Street Australia Limited (SSAL)
Goldman Sachs International
L1 Capital Strategic Equity Management Pty LtdCiticorp Nominees Pty Ltd
L1 Capital Pty Ltd
Persons entitled to be a registered holderClass and number of
securities
L1 Capital Pty LtdNational Nominees Limited
Morgan Stanley & Co. International PLC
For personal use only