SPH Notice – Pinnacle Investment Management Group Limited

1
Disclosure of beginning to have substantial holding
Section 276, Financial Markets Conduct Act 2013
To ASX and NZX
and
To NZME Limited (NZM)
Date this disclosure made: 23 May 2023
Date on which substantial holding began: 18 May 2023
Substantial product holder(s) giving disclosure
Full name(s): Pinnacle Investment Management Group Limited (and its subsidiaries listed
in Annexure A)
Summary of substantial holding
Class of quoted voting products: Ordinary shares
Summary for Pinnacle Investment Management Group Limited (and its subsidiaries
listed in Annexure A)
For this disclosure,—
(a) total number held in class:
9,293,891

(b) total in class: 183,913,614

(c) total percentage held in class: 5.053%
Details of relevant interests
Details for Pinnacle Investment Management Group Limited (and its subsidiaries
listed in Annexure A)
Nature of relevant interest(s): Relevant interest held through the power to control voting
and/or disposal of securities in its capacity as responsible entity or trustee of registered or
unregistered schemes and/or relevant interest by virtue of section 237 of the Financial
Markets Conduct Act 2013 as it has the power to exercise, or control the exercise of, the
right to vote attached to 20% or more of the voting products in one or more affiliated
investment managers (See Annexure A - Part 2) who each in urn hold relevant interests in
the financial products the subject of thi s notice. Relevant agreement documents need not
be attached under regulation 139.
For that relevant interest,—
(a) number held in class: 9,293,891
(b) percentage held in class: 5.053%
(c) current registered holder(s): Annexure B
(d) registered holder(s) once transfers are registered: n/a

2
For a derivative relevant interest, also—
(a) type of derivative: n/a
(b) details of derivative: n/a
(c) parties to the derivative: n/a
(d) if the substantial product holder is not a party to the derivative, the nature of the
relevant interest in the derivative: n/a
Details of transactions and events giving rise to substantial holding
Details of the transactions or other events requiring disclosure:
Holder of
relevant
interest Trade Date Consideration
Number of
securities
Class of
Securities
Cash Non-cash
Pinnacle
Investment
Management
Group Limited
(and its
subsidiaries
listed in
Annexure A) 27/02/2023 $ 920,453.82 827,233
ORDINARY
FULLY PAID
As above
21/03/2023 $ 491,269.61 499,695
ORDINARY
FULLY PAID
As above
11/04/2023 $ 398,408.56 386,211
ORDINARY
FULLY PAID
As above
17/04/2023 $ 655,426.43 642,760
ORDINARY
FULLY PAID
As above
18/05/2023 $ 740,949.40 747,009
ORDINARY
FULLY PAID

Additional information
Address(es) of substantial product holder(s):
Name Address
Pinnacle Investment
Management Group Limited
Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Fund Services Limited Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Investment
Management Limited
Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Investment
Management Group Limited
Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Investment
Management Limited
Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Fund Services Limited Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Ariano Pty Limited Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Next Financial Limited Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Next Financial Nominees Pty Ltd Level 19, 307 Queen St, Brisbane QLD 4000, Australia

3
Next Financial Nominees No. 2
Pty Ltd
Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Investment Solutions Client
Services Pty Ltd
Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Priority Funds Management Pty
Ltd
Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Priority Investment Management
Pty Ltd
Level 19, 307 Queen St, Brisbane QLD 4000, Australia
PNI Option Plan Managers Pty
Ltd
Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Investment
Management (UK) Limited
7th Floor, Dashwood House, 69 Old Broad Street, London
EC2M 1QS, United Kingdom
Pinnacle RE Services Limited Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pinnacle Services Administration
Pty Ltd
Level 19, 307 Queen St, Brisbane QLD 4000, Australia
POSH Nominees Pty Limited Level 19, 307 Queen St, Brisbane QLD 4000, Australia
Pingroup IM Limited (US)
c/o TMF Group New York, LLC, 48 Wall Street, 27
th
Floor,
New York NY 10005

Contact details: Calvin Kwok, +61 2 89707718, calvin.kwok@pinnacleinvestment.com
*Nature of connection between substantial product holders:
Name ACN Nature of Association
Pinnacle Investment
Management Group Limited
100 325 184 Related body corporate of each other entity
listed.
Pinnacle Investment
Management Limited
109 659 109 Related body corporate of each other entity
listed.
Pinnacle Fund Services
Limited
082 494 362 Related body corporate of each other entity
listed.
Ariano Pty Limited 605 250 799 Related body corporate of each other entity
listed.
Next Financial Limited 081 722 894 Related body corporate of each other entity
listed.
Next Financial Nominees Pty
Ltd
093 252 576 Related body corporate of each other entity
listed.
Next Financial Nominees No.
2 Pty Ltd
132 819 115 Related body corporate of each other entity
listed.
Investment Solutions Client
Services Pty Ltd
117 898 334 Related body corporate of each other entity
listed.
Priority Funds Management
Pty Ltd
120 826 575 Related body corporate of each other entity
listed.
Priority Investment
Management Pty Ltd
116 943 456 Related body corporate of each other entity
listed.
PNI Option Plan Managers Pty
Ltd
116 943 456 Related body corporate of each other entity
listed.
Pinnacle RE Services Limited 130 508 379 Related body corporate of each other entity
listed.
Pinnacle Services
Administration Pty Ltd
126 175 148 Related body corporate of each other entity
listed.
Pinnacle Investment
Management (UK) Limited
Company
Number
11026111
Related body corporate of each other entity
listed.
POSH Nominees Pty Limited 620 094 251 Related body corporate of each other entity
listed.

4
Pingroup IM Limited (US)
EIN 85-
0920129
Related body corporate of each other entity
listed.
Certification
I, Calvin Kwok, 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.

NZME LTD
Annexure A - Part 1
Holder of relevant interestNature of relevant interest
Pinnacle Investment Management Group Limited (ACN 100
325 184)
Pinnacle Investment Management Limited (ACN 109 659 109)
Ariano Pty Limited (ACN 605 250 799)
Next Financial Limited (ACN 081 722 894)
Next Financial Nominees Pty Ltd (ACN 093 252 576)
Next Financial Nominees No. 2 Pty Ltd (ACN 132 819 115)
Investment Solutions Client Services Pty Ltd (ACN 117 898
334)
Priority Funds Management Pty Ltd (ACN 120 826 575)
Priority Investment Management Pty Ltd (ACN 116 943 456
PNI Option Plan Managers Pty Ltd (ACN 125 030 766)
Pinnacle RE Services Limited (ACN 130 508 379)
Pinnacle Services Administration Pty Ltd (ACN 126 175 148)
Pinnacle Investment Management (UK) Limited (Company
Number 11026111)
POSH Nominees Pty Limited (ACN 620 094 251)
Pingroup IM Limited (US) (EIN 85-0920129)
Relevant interest by virtue of section 608(3)
of the Corporations Act as it or its associates
holds directly or indirectly above 20% voting
power in one or more affiliated investment
managers (see Annexure A – Part 2) and
Pinnacle Fund Services Limited, who each in
turn hold relevant interests in the securities the
subject of this notice.
Pinnacle Fund Services Limited (ACN 082 494 362)Relevant interest held through the power to
control voting and/or disposal of securities in its
capacity as responsible entity or trustee of
registered or unregistered schemes and/or
relevant interest by virtue of section 608(3)
of the Corporations Act as it or its associates
holds directly or indirectly above 20% voting
power in one or more affiliated investment
managers (see Annexure A – Part 2) who each
in turn hold relevant interests in the securities
the subject of this notice.
This is Annexure "A - Part 1"
Calvin Kwok
Company Secretary
Date: 23/05/2023

NZME LTD
Annexure A - Part 2
Affiliated Investment Managers in which Pinnacle has over 20% voting power
Aikya Investment Management Limited (UK) (Company Number 12329682)
Antipodes Partners Limited (ACN 602 042 035)
Coolabah Capital Investments Pty Limited (ACN 605 806 059)
Five V Capital Pty Limited (ACN 162 193 928)
Hyperion Asset Management Limited (ACN 080 135 897)
Langdon Equity Partners Limited (CA) (NRD 73210)
Metrics Credit Partners Pty Limited (ACN 150 646 996)
Palisade Investment Partners Limited (ACN 124 326 361)
Plato Investment Management Limited (ACN 120 730 136)
Resolution Capital Limited (ACN 108 584 167)
Solaris Investment Management Limited (ACN 128 512 621)
Riparian Capital Partners Pty Ltd (ACN 630 179 752)
This is Annexure "A - Part 2"
Date: 23/05/2023
Calvin Kwok
Company Secretary
Date: 23/05/2023

NZME LTD
Annexure B
Holder of relevant interestRegistered holder
of securities
Person entitled to be
registered as holder
Number of
securities
Class of
securities
Pinnacle Investment Management
Group Limited (and its subsidiaries
listed in Annexure A)
CitibankCitibank9,293,891 Ordinary fully
paid
This is Annexure "B" of 1 page
Calvin Kwok
Company Secretary
Date: 23/05/2023