Becoming a substantial holder

Heading
Form 603
Corporations Act 2001
Section 671B
Notice of initial substantial holder


To Company Name/Scheme DOWNER EDI LIMITED (DOW)
ACN/ARSN ACN 003 872 848


1. Details of substantial holder (1)
Name PERPETUAL LIMITED and its related bodies corporate
ACN/ARSN (if applicable) 000 431 827

The holder became a substantial holder on 23/01/2023


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)
Ordinary 36,916,148 36,916,148 5.497%


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:
Holder of relevant interest Nature of relevant interest (7) Class and number of securities
Refer to annexure B


4. Details of present registered holders
The persons registered as holders of the securities referred to in paragraph 3 above are as follows:
Holder of relevant interest
Registered holder of
securities
Person entitled to be
registered as holder (8)
Class and number of
securities
Refer to annexure B



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:
Holder of relevant
interest
Date of acquisition Consideration (9) Class and number of
securities
Refer to annexure A

Cash Non-cash

6. Associates
The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:
Name and ACN/ARSN (if applicable) Nature of association
Pendal Fund Services Limited (PFSL) Related bodies corporate of Perpetual Limited
Pendal Institutional Limited (PIL) Related bodies corporate of Perpetual Limited

7. Addresses
The addresses of persons named in this form are as follows:
Name Address
Perpetual Limited (PPT) 18/123 Pitt Street Sydney, NSW 2000
Pendal Fund Services Limited (PFSL)
Level 14, Chifley Tower, 2 Chifley Square, Sydney NSW 2000
Pendal Institutional Limited (PIL)
Level 14, Chifley Tower, 2 Chifley Square, Sydney NSW 2000
DOWNER EDI LIMITED (DOW)
Level 2, Triniti III, Triniti Business Campus, 39 Delhi Road, NORTH
RYDE, NSW, AUSTRALIA, 2113



Signature


print name Sylvie Dimarco capacity Company Secretary
sign here

date 25/01/2023

DIRECTIONS

(1) 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 7 of the form.
(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 total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an
associate has a relevant interest in.
(6) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
(7) Include details of:
(a) any relevant agreement or other circumstances by which the relevant interest was acquired. 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
(b) 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).
See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.
(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) 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.

ANNEXURE A
This is annexure ‘A’ referred to in Form 603, Notice of initial substantial holder, lodged for Perpetual Limited ACN 000 431 827
Sylvie Dimarco – Company Secretary, Perpetual Limited 25/01/2023

Holder of
Relevant
Interest
Person whose relevant
interest changed
Date Nature of change
Consideration
(Cash)
Class (Ordinary)
and # of
securities
affected
Person's vote
affected
PIL Citibank, N.A. 2022-10-27 Sale
40,899 9,305 9,305
PIL RBC Investor Services Trust 2022-10-27 Sale
20,065 4,565 4,565
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-10-27 Sale
122,909 27,963 27,963
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-10-27 Sale
39,295 8,940 8,940
PIL
Northern Trust Company
Limited 2022-10-27 Sale
120,293 27,368 27,368
PFSL
HSBC Custody Nominees
(Australia) Limited 2022-10-27 Sale
178,647 40,644 40,644
PFSL
HSBC Custody Nominees
(Australia) Limited 2022-10-31 Sale
830,999 185,346 185,346
PIL Citibank, N.A. 2022-11-03 Purchase
653,924 136,727 136,727
PIL
Northern Trust Company
Limited 2022-11-03 Purchase
634,143 132,591 132,591
PFSL UBS Nominees Pty Limited 2022-11-03 Purchase
172,914 36,154 36,154
PIL Citibank, N.A. 2022-11-04 Purchase
789,619 164,789 164,789
PIL Citibank, N.A. 2022-11-04 Purchase
57,794 12,038 12,038
PIL RBC Investor Services Trust 2022-11-04 Purchase
54,314 11,313 11,313
PIL
HSBC Custody Nominees
(Australia) Limited 2022-11-04 Purchase
102,640 21,346 21,346
PIL
HSBC Custody Nominees
(Australia) Limited 2022-11-04 Sale
102,640 21,346 21,346
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-11-04 Purchase
344,337 71,722 71,722
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-11-04 Purchase
104,451 21,756 21,756
PIL
Northern Trust Company
Limited 2022-11-04 Purchase
765,738 159,805 159,805
PIL
Northern Trust Company
Limited 2022-11-04 Purchase
164,501 34,264 34,264
PFSL UBS Nominees Pty Limited 2022-11-04 Purchase
208,798 43,575 43,575
PFSL
HSBC Custody Nominees
(Australia) Limited 2022-11-04 Purchase
242,297 50,468 50,468
PIL Citibank, N.A. 2022-11-07 Purchase
671,651 138,877 138,877
PIL Citibank, N.A. 2022-11-07 Purchase
70,491 14,576 14,576
PIL RBC Investor Services Trust 2022-11-07 Purchase
69,688 14,410 14,410
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-11-07 Purchase
452,891 93,648 93,648
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-11-07 Purchase
136,963 28,321 28,321
PIL
Northern Trust Company
Limited 2022-11-07 Purchase
651,338 134,677 134,677
PIL
Northern Trust Company
Limited 2022-11-07 Purchase
223,936 46,305 46,305
PFSL UBS Nominees Pty Limited 2022-11-07 Purchase
177,603 36,723 36,723

PFSL
HSBC Custody Nominees
(Australia) Limited 2022-11-07 Purchase
298,445 61,712 61,712
PIL Citibank, N.A. 2022-11-08 Purchase
491,319 101,529 101,529
PIL
Northern Trust Company
Limited 2022-11-08 Purchase
476,458 98,458 98,458
PFSL UBS Nominees Pty Limited 2022-11-08 Purchase
129,918 26,847 26,847
PIL Citibank, N.A. 2022-11-09 Purchase
452,809 92,945 92,945
PIL Citibank, N.A. 2022-11-09 Purchase
16,339 3,359 3,359
PIL RBC Investor Services Trust 2022-11-09 Purchase
14,597 3,001 3,001
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-11-09 Purchase
42,639 8,766 8,766
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-11-09 Purchase
19,388 3,986 3,986
PIL
Northern Trust Company
Limited 2022-11-09 Purchase
439,120 90,135 90,135
PIL
Northern Trust Company
Limited 2022-11-09 Purchase
20,060 4,124 4,124
PFSL UBS Nominees Pty Limited 2022-11-09 Purchase
119,734 24,577 24,577
PFSL
HSBC Custody Nominees
(Australia) Limited 2022-11-09 Purchase
65,471 13,460 13,460
PIL
Northern Trust Company
Limited 2022-11-14 Sale
324,783 64,441 64,441
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-11-15 Sale
1,385,890 273,621 273,621
PFSL
HSBC Custody Nominees
(Australia) Limited 2022-11-15 Sale
3,186,386 629,099 629,099
PFSL
HSBC Custody Nominees
(Australia) Limited 2022-11-15 Sale
947,813 187,130 187,130
PFSL
HSBC Custody Nominees
(Australia) Limited 2022-11-18 Sale
870,176 171,585 171,585
PIL Citibank, N.A. 2022-11-22 Sale
152,467 29,861 29,861
PIL
National Nominees
Limited 2022-11-22 Sale
23,804 4,662 4,662
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-11-23 Sale
410,246 79,198 79,198
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-11-25 Sale
282,200 54,743 54,743
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-11-25 Sale
187,487 36,370 36,370
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-11-25 Sale
199,102 38,623 38,623
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-11-28 Sale
288,898 55,988 55,988
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-11-30 Sale
165,974 32,216 32,216
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-11-30 Sale
304,312 59,068 59,068
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-11-30 Purchase
935,101 181,506 181,506
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-11-30 Sale
464,815 90,222 90,222
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-12-05 Sale
5,122 1,026 1,026
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-12-05 Sale
4,169 835 835
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-12-05 Sale
1,448 290 290

PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-12-05 Sale
6,275 1,257 1,257
PFSL
HSBC Custody Nominees
(Australia) Limited 2022-12-05 Sale
25,476 5,103 5,103
PFSL
HSBC Custody Nominees
(Australia) Limited 2022-12-05 Sale
5,012 1,004 1,004
PIL Citibank, N.A. 2022-12-06 Sale
321,716 66,539 66,539
PIL Citibank, N.A. 2022-12-06 Sale
947,000 196,412 196,412
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-12-06 Sale
130,419 26,974 26,974
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-12-06 Sale
383,902 79,623 79,623
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-12-06 Sale
106,075 21,939 21,939
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-12-06 Sale
312,245 64,761 64,761
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-12-06 Sale
36,910 7,634 7,634
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-12-06 Sale
108,653 22,535 22,535
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-12-06 Sale
470,400 97,563 97,563
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-12-06 Sale
159,802 33,051 33,051
PIL
Northern Trust Company
Limited 2022-12-06 Sale
285,255 58,998 58,998
PIL
Northern Trust Company
Limited 2022-12-06 Sale
839,669 174,151 174,151
PFSL UBS Nominees Pty Limited 2022-12-06 Sale
93,983 19,438 19,438
PFSL UBS Nominees Pty Limited 2022-12-06 Sale
276,653 57,379 57,379
PFSL
HSBC Custody Nominees
(Australia) Limited 2022-12-06 Sale
648,601 134,147 134,147
PFSL
HSBC Custody Nominees
(Australia) Limited 2022-12-06 Sale
1,909,218 395,980 395,980
PFSL
HSBC Custody Nominees
(Australia) Limited 2022-12-06 Sale
375,841 77,951 77,951
PFSL
HSBC Custody Nominees
(Australia) Limited 2022-12-06 Sale
127,678 26,407 26,407
PIL Citibank, N.A. 2022-12-07 Sale
349,182 72,807 72,807
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-12-07 Sale
141,554 29,515 29,515
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-12-07 Sale
115,133 24,006 24,006
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-12-07 Sale
40,061 8,353 8,353
PIL
J.P. Morgan Nominees
Australia Pty Limited 2022-12-07 Sale
173,447 36,165 36,165
PIL
Northern Trust Company
Limited 2022-12-07 Sale
309,606 64,555 64,555
PFSL UBS Nominees Pty Limited 2022-12-07 Sale
102,011 21,270 21,270
PFSL
HSBC Custody Nominees
(Australia) Limited 2022-12-07 Sale
703,981 146,785 146,785
PFSL
HSBC Custody Nominees
(Australia) Limited 2022-12-07 Sale
138,580 28,895 28,895
PIL Citibank, N.A. 2022-12-09 Purchase
612,355 168,986 168,986
PIL
HSBC Custody Nominees
(Australia) Limited 2022-12-09 Purchase
150,326 41,484 41,484

PIL
Mitsubishi UFJ Investor
Services & Banking
(Luxembourg) S.A. 2022-12-09 Purchase
63,023 17,392 17,392
PIL
Northern Trust Company
Limited 2022-12-09 Purchase
547,219 151,011 151,011
PFSL UBS Nominees Pty Limited 2022-12-09 Purchase
160,421 44,270 44,270
PFSL
HSBC Custody Nominees
(Australia) Limited 2022-12-09 Purchase
19,568 5,400 5,400
PFSL
HSBC Custody Nominees
(Australia) Limited 2022-12-09 Purchase
92,462 25,516 25,516
PIL
Northern Trust Company
Limited 2022-12-15 Sale
160,584 43,052 43,052
PIL
Northern Trust Company
Limited 2022-12-16 Sale
160,584 43,052 43,052
PFSL
HSBC Custody Nominees
(Australia) Limited 2023-01-06 Sale
58,706 15,655 15,655
PFSL
HSBC Custody Nominees
(Australia) Limited 2023-01-19 Sale
700,888 179,246 179,246

Note: Perpetual Limited acquired 100% of PDL pursuant to a scheme of arrangement on 23 January 2023.

ANNEXURE B
This is annexure ‘B’ referred to in Form 603, Notice of initial substantial holder, lodged for Perpetual Limited ACN 000 431 827
Sylvie Dimarco – Company Secretary, Perpetual Limited 25/01/2023
Holder of
relevant interest Registered holder securities Persons entitled to be registered holder
Number of
securities
Number
of votes
PFSL HSBC Custody Nominees (Australia) Limited HSBC Custody Nominees (Australia) Limited 11928129 11928129
PFSL UBS Nominees Pty Limited UBS Nominees Pty Limited 720884 720884
PIL HSBC Custody Nominees (Australia) Limited HSBC Custody Nominees (Australia) Limited 6805351 6805351
PIL Citibank, N.A. Citibank, N.A. 4162679 4162679
PIL
Mitsubishi UFJ Investor Services & Banking
(Luxembourg) S.A.
Mitsubishi UFJ Investor Services & Banking (Luxembourg)
S.A. 504298 504298
PIL J.P. Morgan Nominees Australia Pty Limited J.P. Morgan Nominees Australia Pty Limited 8350332 8350332
PIL RBC Investor Services Trust RBC Investor Services Trust 335068 335068
PIL National Nominees Limited National Nominees Limited 712945 712945
PIL Northern Trust Company Limited Northern Trust Company Limited 3396462 3396462