Change in substantial holding

1

Form 604
Corporations Act 2001
Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme DOWNER EDI LIMITED

ACN/ARSN 003 872 848

1. Details of substantial holder (1)
Name Morgan Stanley and its subsidiaries listed in Annexure A
ACN/ARSN (if applicable) Not Applicable

There was a change in the interests of the
substantial holder on February 28, 2023
The previous notice was given to the company on March 02, 2023
The previous notice was dated February 27, 2023



The holder became aware on March 02, 2023


2. Previous and present 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 when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)
Previous notice Present notice
Person’s votes Voting power (5) Person’s votes Voting power (5)
Ordinary Shares 46,589,121 6.94% 36,852,021 5.49%

Based on 671,573,679
Ordinary Shares
Outstanding

Based on 671,573,679
Ordinary Shares
Outstanding


3. Changes in relevant interests

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:



Date of
change
Person whose relevant interest changed
Nature of change
(6)
Consideration
given in relation to
change (7)
Class and number of
Securities affected
Person’s
votes
affected
02/28/2023 Morgan Stanley Australia Securities Limited Buy 4,421.79 1,431 Ordinary Shares 1,431
02/28/2023 Morgan Stanley Australia Securities Limited Buy 4,424.00 1,400 Ordinary Shares 1,400
02/28/2023 Morgan Stanley Australia Securities Limited Buy 25,596.00 8,100 Ordinary Shares 8,100
02/28/2023 Morgan Stanley Australia Securities Limited Buy 151,414.20 48,068 Ordinary Shares 48,068
02/28/2023 Morgan Stanley Australia Securities Limited Buy 36,480.00 12,000 Ordinary Shares 12,000
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,330.33 419 Ordinary Shares 419
02/28/2023 Morgan Stanley Australia Securities Limited Buy 217,297.42 69,203 Ordinary Shares 69,203
02/28/2023 Morgan Stanley Australia Securities Limited Buy 7,154.69 2,257 Ordinary Shares 2,257
02/28/2023 Morgan Stanley Australia Securities Limited Buy 3,365.01 1,089 Ordinary Shares 1,089
02/28/2023 Morgan Stanley Australia Securities Limited Buy 51,915.64 16,429 Ordinary Shares 16,429
02/28/2023 Morgan Stanley Australia Securities Limited Buy 7,766.50 2,450 Ordinary Shares 2,450
02/28/2023 Morgan Stanley Australia Securities Limited Buy 2,387.79 774 Ordinary Shares 774
02/28/2023 Morgan Stanley Australia Securities Limited Buy 4,530.00 1,500 Ordinary Shares 1,500
02/28/2023 Morgan Stanley Australia Securities Limited Buy 7,681.65 2,490 Ordinary Shares 2,490
02/28/2023 Morgan Stanley Australia Securities Limited Buy 878.72 283 Ordinary Shares 283
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,952.88 618 Ordinary Shares 618
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,563.72 498 Ordinary Shares 498
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,305.21 417 Ordinary Shares 417
02/28/2023 Morgan Stanley Australia Securities Limited Buy 8,624.00 2,800 Ordinary Shares 2,800
02/28/2023 Morgan Stanley Australia Securities Limited Buy 3,325.33 1,049 Ordinary Shares 1,049

2

02/28/2023 Morgan Stanley Australia Securities Limited Buy 6,964.64 2,204 Ordinary Shares 2,204
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Buy 4,006.88 1,268 Ordinary Shares 1,268
02/28/2023 Morgan Stanley & Co. International plc Buy 2,820.30 906 Ordinary Shares 906
02/28/2023 Morgan Stanley Australia Securities Limited Buy 5,626.75 1,775 Ordinary Shares 1,775
02/28/2023 Morgan Stanley Australia Securities Limited Buy 78.75 25 Ordinary Shares 25
02/28/2023 Morgan Stanley Australia Securities Limited Buy 13,866.30 4,473 Ordinary Shares 4,473
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,567.70 514 Ordinary Shares 514
02/28/2023 Morgan Stanley Australia Securities Limited Buy 121.60 40 Ordinary Shares 40
02/28/2023 Morgan Stanley Australia Securities Limited Buy 21,152.25 6,715 Ordinary Shares 6,715
02/28/2023 Morgan Stanley Australia Securities Limited Buy 149,610.20 47,345 Ordinary Shares 47,345
02/28/2023 Morgan Stanley Australia Securities Limited Buy 36,282.70 11,555 Ordinary Shares 11,555
02/28/2023 Morgan Stanley Australia Securities Limited Buy 6,499.90 2,090 Ordinary Shares 2,090
02/28/2023 Morgan Stanley Australia Securities Limited Buy 466.94 148 Ordinary Shares 148
02/28/2023 Morgan Stanley Australia Securities Limited Buy 2,246.76 711 Ordinary Shares 711
02/28/2023 Morgan Stanley Australia Securities Limited Buy 22,388.60 7,085 Ordinary Shares 7,085
02/28/2023 Morgan Stanley Australia Securities Limited Buy 103,174.00 32,650 Ordinary Shares 32,650
02/28/2023 Morgan Stanley Australia Securities Limited Buy 14,441.20 4,570 Ordinary Shares 4,570
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,504.06 479 Ordinary Shares 479
02/28/2023 Morgan Stanley Australia Securities Limited Buy 2,224.56 713 Ordinary Shares 713
02/28/2023 Morgan Stanley Australia Securities Limited Buy 7,335.04 2,336 Ordinary Shares 2,336
02/28/2023 Morgan Stanley Australia Securities Limited Buy 30,473.58 9,862 Ordinary Shares 9,862
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,161.80 370 Ordinary Shares 370
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,426.00 460 Ordinary Shares 460
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,273.05 410 Ordinary Shares 410
02/28/2023 Morgan Stanley Australia Securities Limited Buy 309.50 100 Ordinary Shares 100
02/28/2023 Morgan Stanley Australia Securities Limited Buy 27,163.36 8,596 Ordinary Shares 8,596
02/28/2023 Morgan Stanley Australia Securities Limited Buy 35,176.68 11,421 Ordinary Shares 11,421
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,803.36 578 Ordinary Shares 578
02/28/2023 Morgan Stanley Australia Securities Limited Buy 597.24 189 Ordinary Shares 189
02/28/2023 Morgan Stanley Australia Securities Limited Buy 13,822.28 4,402 Ordinary Shares 4,402
02/28/2023 Morgan Stanley Australia Securities Limited Buy 4,829.32 1,538 Ordinary Shares 1,538
02/28/2023 Morgan Stanley Australia Securities Limited Buy 15,781.04 4,994 Ordinary Shares 4,994
02/28/2023 Morgan Stanley Australia Securities Limited Buy 118,332.52 37,447 Ordinary Shares 37,447
02/28/2023 Morgan Stanley Australia Securities Limited Buy 602.88 192 Ordinary Shares 192
02/28/2023 Morgan Stanley Australia Securities Limited Buy 951.16 301 Ordinary Shares 301
02/28/2023 Morgan Stanley Australia Securities Limited Buy 37,295.72 12,109 Ordinary Shares 12,109
02/28/2023 Morgan Stanley Australia Securities Limited Buy 20,160.00 6,400 Ordinary Shares 6,400
02/28/2023 Morgan Stanley & Co. International plc Buy 2,975.88 958 Ordinary Shares 958
02/28/2023 Morgan Stanley Australia Securities Limited Buy 5,538.00 1,775 Ordinary Shares 1,775
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,751.22 564 Ordinary Shares 564
02/28/2023 Morgan Stanley Australia Securities Limited Buy 512.50 164 Ordinary Shares 164
02/28/2023 Morgan Stanley Australia Securities Limited Buy 12,965.64 4,196 Ordinary Shares 4,196
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,042.73 338 Ordinary Shares 338
02/28/2023 Morgan Stanley Australia Securities Limited Buy 22.02 7 Ordinary Shares 7
02/28/2023 Morgan Stanley Australia Securities Limited Buy 466.94 148 Ordinary Shares 148
02/28/2023 Morgan Stanley Australia Securities Limited Buy 20,868.75 6,625 Ordinary Shares 6,625
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,125.35 355 Ordinary Shares 355
02/28/2023 Morgan Stanley Australia Securities Limited Buy 100,431.12 31,782 Ordinary Shares 31,782
02/28/2023 Morgan Stanley Australia Securities Limited Buy 6,140.00 2,000 Ordinary Shares 2,000
02/28/2023 Morgan Stanley Australia Securities Limited Buy 2,944.50 975 Ordinary Shares 975
02/28/2023 Morgan Stanley Australia Securities Limited Buy 9,945.00 3,250 Ordinary Shares 3,250
02/28/2023 Morgan Stanley Australia Securities Limited Buy 15.75 5 Ordinary Shares 5
02/28/2023 Morgan Stanley & Co. International plc Buy 11,338.08 3,588 Ordinary Shares 3,588
02/28/2023 Morgan Stanley Australia Securities Limited Buy 2,783.96 881 Ordinary Shares 881
02/28/2023 Morgan Stanley Australia Securities Limited Buy 3,073.34 993 Ordinary Shares 993
02/28/2023 Morgan Stanley Australia Securities Limited Buy 81,727.92 26,028 Ordinary Shares 26,028
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,953.08 622 Ordinary Shares 622

3

02/28/2023 Morgan Stanley Australia Securities Limited Buy 2,368.08 759 Ordinary Shares 759
02/28/2023 Morgan Stanley Australia Securities Limited Buy 20,540.00 6,500 Ordinary Shares 6,500
02/28/2023 Morgan Stanley Australia Securities Limited Buy 772.50 250 Ordinary Shares 250
02/28/2023 Morgan Stanley Australia Securities Limited Buy 2,308.22 741 Ordinary Shares 741
02/28/2023 Morgan Stanley Australia Securities Limited Buy 4,444.60 1,420 Ordinary Shares 1,420
02/28/2023 Morgan Stanley Australia Securities Limited Buy 3,176.95 1,015 Ordinary Shares 1,015
02/28/2023 Morgan Stanley Australia Securities Limited Buy 2,063.33 671 Ordinary Shares 671
02/28/2023 Morgan Stanley Australia Securities Limited Buy 721.62 228 Ordinary Shares 228
02/28/2023 Morgan Stanley Australia Securities Limited Buy 4,267.77 1,357 Ordinary Shares 1,357
02/28/2023 Morgan Stanley Australia Securities Limited Buy 15,727.95 4,993 Ordinary Shares 4,993
02/28/2023 Morgan Stanley Australia Securities Limited Buy 12,822.53 4,123 Ordinary Shares 4,123
02/28/2023 Morgan Stanley Australia Securities Limited Buy 4,345.20 1,420 Ordinary Shares 1,420
02/28/2023 Morgan Stanley Australia Securities Limited Buy 2,128.92 678 Ordinary Shares 678
02/28/2023 Morgan Stanley Australia Securities Limited Buy 13,398.38 4,267 Ordinary Shares 4,267
02/28/2023 Morgan Stanley Australia Securities Limited Buy 3,030.00 1,000 Ordinary Shares 1,000
02/28/2023 Morgan Stanley Australia Securities Limited Buy 6,416.55 2,037 Ordinary Shares 2,037
02/28/2023 Morgan Stanley Australia Securities Limited Buy 331.80 105 Ordinary Shares 105
02/28/2023 Morgan Stanley Australia Securities Limited Buy 2,842.70 917 Ordinary Shares 917
02/28/2023 Morgan Stanley Australia Securities Limited Buy 8,064.00 2,560 Ordinary Shares 2,560
02/28/2023 Morgan Stanley Australia Securities Limited Buy 6,378.75 2,025 Ordinary Shares 2,025
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,610.84 523 Ordinary Shares 523
02/28/2023 Morgan Stanley Australia Securities Limited Buy 16,914.52 5,404 Ordinary Shares 5,404
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,180.64 376 Ordinary Shares 376
02/28/2023 Morgan Stanley Australia Securities Limited Buy 6,100.00 2,000 Ordinary Shares 2,000
02/28/2023 Morgan Stanley Australia Securities Limited Buy 36,634.50 11,630 Ordinary Shares 11,630
02/28/2023 Morgan Stanley Australia Securities Limited Buy 2,856.64 904 Ordinary Shares 904
02/28/2023 Morgan Stanley Australia Securities Limited Buy 64,260.00 21,000 Ordinary Shares 21,000
02/28/2023 Morgan Stanley Australia Securities Limited Buy 4,389.24 1,389 Ordinary Shares 1,389
02/28/2023 Morgan Stanley Australia Securities Limited Buy 6,392.20 2,062 Ordinary Shares 2,062
02/28/2023 Morgan Stanley Australia Securities Limited Buy 9,487.80 3,012 Ordinary Shares 3,012
02/28/2023 Morgan Stanley Australia Securities Limited Buy 102,677.88 32,493 Ordinary Shares 32,493
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,190.70 378 Ordinary Shares 378
02/28/2023 Morgan Stanley Australia Securities Limited Buy 3,703.97 1,174 Ordinary Shares 1,174
02/28/2023 Morgan Stanley Australia Securities Limited Buy 28,431.73 8,969 Ordinary Shares 8,969
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,395.00 450 Ordinary Shares 450
02/28/2023 Morgan Stanley Australia Securities Limited Buy 38,875.00 12,500 Ordinary Shares 12,500
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,118.25 355 Ordinary Shares 355
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,763.90 569 Ordinary Shares 569
02/28/2023 Morgan Stanley Australia Securities Limited Buy 8,609.72 2,716 Ordinary Shares 2,716
02/28/2023 Morgan Stanley Australia Securities Limited Buy 9,510.00 3,000 Ordinary Shares 3,000
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,098.73 355 Ordinary Shares 355
02/28/2023 Morgan Stanley Australia Securities Limited Buy 5,467.38 1,758 Ordinary Shares 1,758
02/28/2023 Morgan Stanley Australia Securities Limited Buy 578.28 183 Ordinary Shares 183
02/28/2023 Morgan Stanley Australia Securities Limited Buy 15,605.10 4,954 Ordinary Shares 4,954
02/28/2023 Morgan Stanley Australia Securities Limited Buy 19,279.94 6,082 Ordinary Shares 6,082
02/28/2023 Morgan Stanley Australia Securities Limited Buy 1,129.76 368 Ordinary Shares 368
02/28/2023 Morgan Stanley Australia Securities Limited Sell 293.25 75 Ordinary Shares 75
02/28/2023 Morgan Stanley Australia Securities Limited Sell 146.34 37 Ordinary Shares 37
02/28/2023 Morgan Stanley Australia Securities Limited Sell 479.16 121 Ordinary Shares 121
02/28/2023 Morgan Stanley Australia Securities Limited Sell 1,890.49 478 Ordinary Shares 478
02/28/2023 Morgan Stanley Australia Securities Limited Sell 32,076.00 8,100 Ordinary Shares 8,100
02/28/2023 Morgan Stanley Australia Securities Limited Sell 654.87 166 Ordinary Shares 166
02/28/2023 Morgan Stanley Australia Securities Limited Sell 714.35 182 Ordinary Shares 182
02/28/2023 Morgan Stanley Australia Securities Limited Sell 733.98 187 Ordinary Shares 187
02/28/2023 Morgan Stanley Australia Securities Limited Sell 68,957.88 17,502 Ordinary Shares 17,502
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,080.81 275 Ordinary Shares 275
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 738.88 188 Ordinary Shares 188

4

02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 3,128.44 796 Ordinary Shares 796
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 986.48 251 Ordinary Shares 251
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,069.01 272 Ordinary Shares 272
02/28/2023 Morgan Stanley Australia Securities Limited Sell 103,177.95 26,121 Ordinary Shares 26,121
02/28/2023 Morgan Stanley Australia Securities Limited Sell 8,771.12 2,229 Ordinary Shares 2,229
02/28/2023 Morgan Stanley Australia Securities Limited Sell 1,154.86 292 Ordinary Shares 292
02/28/2023 Morgan Stanley Australia Securities Limited Sell 1,866.75 475 Ordinary Shares 475
02/28/2023 Morgan Stanley Australia Securities Limited Sell 27,383.00 6,950 Ordinary Shares 6,950
02/28/2023 Morgan Stanley Australia Securities Limited Sell 1,861.20 470 Ordinary Shares 470
02/28/2023 Morgan Stanley Australia Securities Limited Sell 34,392.65 8,707 Ordinary Shares 8,707
02/28/2023 Morgan Stanley Australia Securities Limited Sell 3,743.00 950 Ordinary Shares 950
02/28/2023 Morgan Stanley Australia Securities Limited Sell 8,559.65 2,167 Ordinary Shares 2,167
02/28/2023 Morgan Stanley Australia Securities Limited Sell 876.90 222 Ordinary Shares 222
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,131.90 288 Ordinary Shares 288
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 3,497.88 890 Ordinary Shares 890
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 770.32 196 Ordinary Shares 196
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,175.13 299 Ordinary Shares 299
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 3,077.35 783 Ordinary Shares 783
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,678.20 427 Ordinary Shares 427
02/28/2023 Morgan Stanley & Co. International plc Sell 12,423.08 3,150 Ordinary Shares 3,150
02/28/2023 Morgan Stanley Australia Securities Limited Sell 546.27 139 Ordinary Shares 139
02/28/2023 Morgan Stanley Australia Securities Limited Sell 34,903.44 8,814 Ordinary Shares 8,814
02/28/2023 Morgan Stanley Australia Securities Limited Sell 1,144.44 289 Ordinary Shares 289
02/28/2023 Morgan Stanley Australia Securities Limited Sell 6,328.08 1,598 Ordinary Shares 1,598
02/28/2023 Morgan Stanley Australia Securities Limited Sell 1,837.70 470 Ordinary Shares 470
02/28/2023 Morgan Stanley Australia Securities Limited Sell 395.92 101 Ordinary Shares 101
02/28/2023 Morgan Stanley Australia Securities Limited Sell 560.90 142 Ordinary Shares 142
02/28/2023 Morgan Stanley Australia Securities Limited Sell 2,090.88 528 Ordinary Shares 528
02/28/2023 Morgan Stanley Australia Securities Limited Sell 644.52 164 Ordinary Shares 164
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,638.89 417 Ordinary Shares 417
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,465.96 373 Ordinary Shares 373
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 4,299.64 1,094 Ordinary Shares 1,094
02/28/2023 Morgan Stanley Australia Securities Limited Sell 17,138.88 4,328 Ordinary Shares 4,328
02/28/2023 Morgan Stanley Australia Securities Limited Sell 3,950.00 1,000 Ordinary Shares 1,000
02/28/2023 Morgan Stanley Australia Securities Limited Sell 5,196.86 1,319 Ordinary Shares 1,319
02/28/2023 Morgan Stanley Australia Securities Limited Sell 3,934.58 1,005 Ordinary Shares 1,005
02/28/2023 Morgan Stanley Australia Securities Limited Sell 2,236.52 572 Ordinary Shares 572
02/28/2023 Morgan Stanley Australia Securities Limited Sell 34,656.72 8,841 Ordinary Shares 8,841
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,076.87 274 Ordinary Shares 274
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 931.46 237 Ordinary Shares 237
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,108.32 282 Ordinary Shares 282
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 13,012.89 3,311 Ordinary Shares 3,311
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 958.97 244 Ordinary Shares 244
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 860.71 219 Ordinary Shares 219
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,116.18 284 Ordinary Shares 284
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 2,428.86 618 Ordinary Shares 618
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,155.48 294 Ordinary Shares 294
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 927.53 236 Ordinary Shares 236
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 2,876.91 732 Ordinary Shares 732
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 951.11 242 Ordinary Shares 242
02/28/2023 Morgan Stanley Australia Securities Limited Sell 14,775.00 3,750 Ordinary Shares 3,750
02/28/2023 Morgan Stanley Australia Securities Limited Sell 34,744.26 8,886 Ordinary Shares 8,886
02/28/2023 Morgan Stanley Australia Securities Limited Sell 117,437.76 29,656 Ordinary Shares 29,656
02/28/2023 Morgan Stanley Australia Securities Limited Sell 5,111.68 1,304 Ordinary Shares 1,304
02/28/2023 Morgan Stanley Australia Securities Limited Sell 1,331.15 337 Ordinary Shares 337
02/28/2023 Morgan Stanley Australia Securities Limited Sell 1,900.61 483 Ordinary Shares 483
02/28/2023 Morgan Stanley Australia Securities Limited Sell 1,747.14 444 Ordinary Shares 444

5

02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,631.03 415 Ordinary Shares 415
02/28/2023 Morgan Stanley & Co. International plc Sell 16,012.44 4,064 Ordinary Shares 4,064
02/28/2023 Morgan Stanley Australia Securities Limited Sell 83.06 21 Ordinary Shares 21
02/28/2023 Morgan Stanley Australia Securities Limited Sell 3,930.25 995 Ordinary Shares 995
02/28/2023 Morgan Stanley Australia Securities Limited Sell 4,088.25 1,035 Ordinary Shares 1,035
02/28/2023 Morgan Stanley Australia Securities Limited Sell 188.88 48 Ordinary Shares 48
02/28/2023 Morgan Stanley Australia Securities Limited Sell 1,575.93 401 Ordinary Shares 401
02/28/2023 Morgan Stanley Australia Securities Limited Sell 5,104.44 1,289 Ordinary Shares 1,289
02/28/2023 Morgan Stanley Australia Securities Limited Sell 5,544.91 1,402 Ordinary Shares 1,402
02/28/2023 Morgan Stanley Australia Securities Limited Sell 3,913.44 992 Ordinary Shares 992
02/28/2023 Morgan Stanley Australia Securities Limited Sell 5,480.54 1,391 Ordinary Shares 1,391
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 4,814.50 1,225 Ordinary Shares 1,225
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 805.69 205 Ordinary Shares 205
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,088.67 277 Ordinary Shares 277
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 2,743.28 698 Ordinary Shares 698
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 3,434.99 874 Ordinary Shares 874
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 6,154.69 1,566 Ordinary Shares 1,566
02/28/2023 Morgan Stanley Australia Securities Limited Sell 39,600.00 10,000 Ordinary Shares 10,000
02/28/2023 Morgan Stanley Australia Securities Limited Sell 34,744.26 8,886 Ordinary Shares 8,886
02/28/2023 Morgan Stanley Australia Securities Limited Sell 8,822.88 2,228 Ordinary Shares 2,228
02/28/2023 Morgan Stanley Australia Securities Limited Sell 35,451.25 8,975 Ordinary Shares 8,975
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,139.76 290 Ordinary Shares 290
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 825.34 210 Ordinary Shares 210
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 2,275.59 579 Ordinary Shares 579
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,741.08 443 Ordinary Shares 443
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 911.81 232 Ordinary Shares 232
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 742.81 189 Ordinary Shares 189
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 825.34 210 Ordinary Shares 210
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,579.94 402 Ordinary Shares 402
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 2,444.58 622 Ordinary Shares 622
02/28/2023 Morgan Stanley & Co. International plc Sell 2,035.44 514 Ordinary Shares 514
02/28/2023 Morgan Stanley Australia Securities Limited Sell 738.65 187 Ordinary Shares 187
02/28/2023 Morgan Stanley Australia Securities Limited Sell 11,852.88 3,016 Ordinary Shares 3,016
02/28/2023 Morgan Stanley Australia Securities Limited Sell 4,179.79 1,069 Ordinary Shares 1,069
02/28/2023 Morgan Stanley Australia Securities Limited Sell 2,856.50 725 Ordinary Shares 725
02/28/2023 Morgan Stanley Australia Securities Limited Sell 41,978.75 10,641 Ordinary Shares 10,641
02/28/2023 Morgan Stanley Australia Securities Limited Sell 87,254.64 22,034 Ordinary Shares 22,034
02/28/2023 Morgan Stanley Australia Securities Limited Sell 20,273.36 5,139 Ordinary Shares 5,139
02/28/2023 Morgan Stanley Australia Securities Limited Sell 26,070.00 6,600 Ordinary Shares 6,600
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,084.74 276 Ordinary Shares 276
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 990.41 252 Ordinary Shares 252
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 821.41 209 Ordinary Shares 209
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 2,369.91 603 Ordinary Shares 603
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,190.85 303 Ordinary Shares 303
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 998.27 254 Ordinary Shares 254
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 852.85 217 Ordinary Shares 217
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,249.80 318 Ordinary Shares 318
02/28/2023 Morgan Stanley Australia Securities Limited Sell 1,290.30 330 Ordinary Shares 330
02/28/2023 Morgan Stanley Australia Securities Limited Sell 2,783.88 703 Ordinary Shares 703
02/28/2023 Morgan Stanley Australia Securities Limited Sell 34,656.72 8,841 Ordinary Shares 8,841
02/28/2023 Morgan Stanley Australia Securities Limited Sell 5,404.73 1,377 Ordinary Shares 1,377
02/28/2023 Morgan Stanley Australia Securities Limited Sell 68,785.30 17,414 Ordinary Shares 17,414
02/28/2023 Morgan Stanley Australia Securities Limited Sell 628.05 159 Ordinary Shares 159
02/28/2023 Morgan Stanley Australia Securities Limited Sell 809.75 205 Ordinary Shares 205
02/28/2023 Morgan Stanley Australia Securities Limited Sell 3,124.30 796 Ordinary Shares 796
02/28/2023 Morgan Stanley Australia Securities Limited Sell 25,603.05 6,490 Ordinary Shares 6,490
02/28/2023 Morgan Stanley Australia Securities Limited Sell 1,580.00 400 Ordinary Shares 400

6

02/28/2023 Morgan Stanley Australia Securities Limited Sell 6,727.46 1,701 Ordinary Shares 1,701
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,006.13 256 Ordinary Shares 256
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 974.69 248 Ordinary Shares 248
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 1,041.50 265 Ordinary Shares 265
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 2,043.70 520 Ordinary Shares 520
02/28/2023 Morgan Stanley Wealth Management Australia Pty Ltd Sell 754.60 192 Ordinary Shares 192
02/28/2023 Parametric Portfolio Associates LLC Sell 50.53 16 Ordinary Shares 16
02/28/2023 Morgan Stanley & Co. International plc Collateral Returned N/A 10,075,563 Ordinary Shares 10,075,563




4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant
interest
Registered holder
of securities
Person entitled
to be registered
as holder (8)
Nature of relevant interest (6)
Class and number
of securities
Person's
votes
Morgan Stanley & Co.
International plc
HSBC Custody
Nominees
(Australia) Limited
Not Applicable
Holder of securities subject to an obligation to return under a
prime brokerage agreement.
24,890,988
Ordinary Shares
24,890,988
Morgan Stanley & Co.
LLC
HSBC Custody
Nominees
(Australia) Limited
Not Applicable
Holder of securities subject to an obligation to return under a
prime brokerage agreement through an associate.
126,104 Ordinary
Shares
126,104
Morgan Stanley
Australia Securities
Limited
Morgan Stanley
Australia Securities
(Nominee) Pty
Limited
Not Applicable
Holder of securities subject to an obligation to return under a
prime brokerage agreement through an associate.
6,318,535 Ordinary
Shares
6,318,535
Morgan Stanley
Australia Securities
Limited
Morgan Stanley
Australia Securities
(Nominee) Pty
Limited
Not Applicable
Shares held or in respect of which the holder may exercise
control over disposal in the ordinary course of sales and
trading businesses.
3,246,031 Ordinary
Shares
3,246,031
Morgan Stanley
Investment
Management Inc.
HSBC Custody
Nominees
(Australia) Limited
Not Applicable
Shares held or in respect of which the holder may exercise
control over disposal in the ordinary course of investment
management business.
326 Ordinary
Shares
326
Morgan Stanley Wealth
Management Australia
Pty Ltd
Morgan Stanley
Wealth
Management
Australia Pty
discretionary client
account
Not Applicable
Shares held or in respect of which the holder may exercise
control over disposal in the ordinary course of discretionary
managed business.
1,328,407 Ordinary
Shares
1,328,407
Parametric Portfolio
Associates LLC
Unknown Not Applicable
Shares held or in respect of which the holder may exercise
control over disposal in the ordinary course of investment
management business.
941,630 Ordinary
Shares
941,630
Each of the entities (as
listed in Annexure A) in
the Morgan Stanley
group upstream of the
above entities

Each of the above entities is a body corporate that each
upstream entity controls and therefore has the relevant
interests that the above entities collectively have.
36,852,021
Ordinary Shares
36,852,021







5. Changes in association
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:




Name and ACN/ARSN (if applicable) Nature of association
Not Applicable Not Applicable

7


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

Name Address
Morgan Stanley 1585 Broadway, New York, New York, 10036, USA.
Morgan Stanley & Co. LLC 1585 Broadway, New York, 10036, USA.
Morgan Stanley & Co. International plc
Legal & Compliance Department, 25 Cabot Square, Canary Wharf, London, E14 4QA,
UNITED KINGDOM.

Morgan Stanley Investment Management Inc. 522 5th Avenue, 6th Floor, New York, 10036, USA.
Morgan Stanley Australia Securities Limited Level 39, Chifley Tower, 2 Chifley Square, Sydney, 2000, AUSTRALIA.
Morgan Stanley Wealth Management Australia Pty Ltd Level 39, Chifley Tower, 2 Chifley Square, Sydney, 2000, AUSTRALIA.
Parametric Portfolio Associates LLC 800 Fifth Avenue, Suite 2800, Seattle, 98104, USA.




Signature

print name Ashish Koltharkar capacity Vice President
sign here date March 03, 2023

8

Annexure A

List of Morgan Stanley and its subsidiaries that have a relevant interest or deemed to have a relevant interest in the shares or units stated in Section 4.


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






Signature

print name Ashish Koltharkar capacity Vice President
sign here date March 03, 2023

9










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, moneys 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.

10





GUIDE
This guide does not form part of the prescribed form
and is included by ASIC to assist you in completing and
lodging form 604.
Signature
This form must be signed by either a director or a secretary of the substantial holder.
Lodging period
Nil
Lodging Fee
Nil
Other forms to be
completed
Nil
Additional information
(a) If additional space is required to complete a question, the information may be included on a separate piece of
paper annexed to the form.

(b) This notice must be given to a listed company, or the responsible entity for a listed managed investment scheme.
A copy of this notice must also be given to each relevant securities exchange.

(c) The person must give a copy of this notice:

(i) within 2 business days after they become aware of the information; or

(ii) by 9.30 am on the next trading day of the relevant securities exchange after they become aware of the
information if:

(A) a takeover bid is made for voting shares in the company or voting interests in the scheme; and

(B) the person becomes aware of the information during the bid period.
Annexures
To make any annexure conform to the regulations, you must
1 use A4 size paper of white or light pastel colour with a margin of at least 10mm on all sides
2 show the corporation name and A.C.N or ARBN
3 number the pages consecutively
4 print or type in BLOCK letters in dark blue or black ink so that the document is clearly legible when photocopied
5 identify the annexure with a mark such as A, B, C, etc
6 endorse the annexure with the words:
This is annexure (mark) of (number) pages referred to in form (form number and title)
7 sign and date the annexure.
The annexure must be signed by the same person(s) who signed the form.
Information in this guide is intended as a guide only. Please consult your accountant or solicitor for further advice.

11


Annexure B:
This is Annexure B referred to in the Form 604: Notice of change of interests of substantial holder issued by Morgan
Stanley and its subsidiaries. The following is description of the securities lending agreements referenced in the
accompanying Form 604.

Schedule
Type of Agreement International Prime Brokerage Agreement
Parties to agreement Morgan Stanley & Co. International plc for itself and as agent and
trustee for and on behalf of the other Morgan Stanley Companies
and EQUITY TRUSTEES LIMITED AS TRUSTEE FOR L1
CAPITAL LONG SHORT FUND
Transfer Date 20230228;
Holder of Voting Rights Prime broker has the right to vote securities rehypothecated from
the Client.
Are there any restrictions on voting rights? Yes/No
If yes, detail Not applicable
Scheduled Return Date (if any) Open

Does the borrower have the right to return early? Yes/No
If yes, detail Prime broker may return shares which were rehypothecated from the client at any time.
Does the lender have the right to recall early? Yes/No
If yes, detail Prime broker will be required to return to the client shares rehypothecated from the client's account upon a sale of those
shares by the client.
Will the securities be returned on settlement? Yes/No
If yes, detail any exceptions Upon an Event of Default, the default market value of all Equivalent Securities to be delivered will be
determined and on the basis of the amounts so established, an account shall be taken of what is due from each party to the other. The
amounts due from one party shall be set off against the amounts due from the other party and only the balance of the account shall be
payable.

Schedule
Type of Agreement International Prime Brokerage Agreement
Parties to agreement Morgan Stanley & Co. International plc for itself and as agent and
trustee for and on behalf of the other Morgan Stanley Companies
and L1 LONG SHORT FUND LIMITED
Transfer Date 20230228;
Holder of Voting Rights Prime broker has the right to vote securities rehypothecated from
the Client.
Are there any restrictions on voting rights? Yes/No
If yes, detail Not applicable
Scheduled Return Date (if any) Open

Does the borrower have the right to return early? Yes/No
If yes, detail Prime broker may return shares which were rehypothecated from the client at any time.
Does the lender have the right to recall early? Yes/No
If yes, detail Prime broker will be required to return to the client shares rehypothecated from the client's account upon a sale of those
shares by the client.
Will the securities be returned on settlement? Yes/No
If yes, detail any exceptions Upon an Event of Default, the default market value of all Equivalent Securities to be delivered will be
determined and on the basis of the amounts so established, an account shall be taken of what is due from each party to the other. The
amounts due from one party shall be set off against the amounts due from the other party and only the balance of the account shall be
payable.

The above schedules are based on the relevant standard agreements. The entity filing the report will, if requested by the
company or responsible entity to whom the prescribed form must be given or ASIC, give a copy of the agreement to the
company, responsible entity or ASIC.






Signature

print name Ashish Koltharkar capacity Vice President
sign here date March 03, 2023