SPH Notice – L1 Capital Pty Limited

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)L1 Capital Pty Ltd (125 378 145) and L1 Capital Strategic Equity Management Pty Ltd (648 751 928)
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 437,445,703 shares*Based on issued capital of 434,167,294 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)
Present noticePrevious notice
9.38%
Person's votesVoting power (5)Person's votes
36,463,390 8.34%40,729,182
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)
20/09/2023
2/06/2023
2/06/2023
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:

5. Changes in association
6. Addresses
The addresses of persons named in this form are as follows:
Signature
Print name
Capacity
Sign here
Date
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 45, 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 45, 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
22/09/2023
Jane StewartHead of Legal & Compliance

Annexure A
L1 Capital Pty (ACN 126 378 145) and L1 Capital Strategic Equity Management Pty Ltd (ACN 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 StewartCapacity
Head of Legal & Compliance
Sign Here
Date
22/09/2023
Changes in relevant interests
30/06/2023
On-Market Purchase
1,428,126.57$
185,978
FPO
185,978
30/06/2023
On-Market Purchase
230,477.69$
30,014
FPO
30,014
3/07/2023
On-Market Purchase
1,771,000.00$
230,000
FPO
230,000
4/07/2023
On-Market Purchase
105,250.81$
13,686
FPO
13,686
5/07/2023
On-Market Purchase
1,592,364.26$
205,599
FPO
205,599
6/07/2023
On-Market Purchase
749,284.86$
97,599
FPO
97,599
26/07/2023
On-Market Purchase
235,534.76$
30,458
FPO
30,458
27/07/2023
On-Market Purchase
384,885.47$
49,017
FPO
49,017
28/07/2023
On-Market Purchase
824,931.13$
103,992
FPO
103,992
31/07/2023
On-Market Purchase
732,817.01$
92,237
FPO
92,237
1/08/2023
On-Market Purchase
407,537.24$
51,283
FPO
51,283
2/08/2023
On-Market Purchase
233,059.52$
29,832
FPO
29,832
18/08/2023
On-Market Purchase
50,608.31$
6,547
FPO
6,547
31/07/2023
On-Market Purchase
940,373.18$
118,489
FPO
118,489
31/08/2023
On-Market Purchase
6,654,197.40$
902,384
FPO
902,384
4/09/2023
On-Market Purchase
4,053,392.00$
560,000
FPO
560,000
6/09/2023
On-Market Purchase
258,135.48$
36,616
FPO
36,616
7/09/2023
On-Market Purchase
728,378.29$
103,319
FPO
103,319
8/09/2023
On-Market Purchase
156,404.20$
22,017
FPO
22,017
11/09/2023
On-Market Purchase
591,196.19$
86,706
FPO
86,706
12/09/2023
On-Market Purchase
939,659.60$
137,780
FPO
137,780
13/09/2023
On-Market Purchase
1,645,741.67$
241,626
FPO
241,626
13/09/2023
On-Market Sale
450,703.78$
66,205
FPO
66,205
14/09/2023
On-Market Purchase
612,132.48$
89,118
FPO
89,118
15/09/2023
On-Market Purchase
5,129,878.08$
734,451
FPO
734,451
20/09/2023
On-Market Purchase
1,328,388.10$
191,725
FPO
191,725
20/09/2023
On-Market Sale
127,402.39$
18,476
FPO
18,476
L1 Capital Pty Ltd
Consideration given in
relation to change (7)
L1 Capital Pty Ltd
L1 Capital Pty Ltd
Date of changePerson whose relevant interest changed
L1 Capital Strategic Equity Management Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd
L1 Capital Pty Ltd
L1 Capital Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd
L1 Capital Pty Ltd
L1 Capital Pty Ltd
Class and number of securities
affected
L1 Capital Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd
Person's votes affected
L1 Capital Pty Ltd
L1 Capital Pty Ltd
L1 Capital Pty Ltd
L1 Capital Pty Ltd
L1 Capital Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd
Nature of change (6)

Annexure B
L1 Capital Pty (ACN 126 378 145) and L1 Capital Strategic Equity Management Pty Ltd (ACN 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 Legal & Compliance
Sign HereDate
22/09/2023
Details of present relevant interests
Holder of relevant interestRegistered holder of securitiesPersons entitled to be a registered holder
Nature of relevant
interest
Merrill Lynch (Australia) Nominees Pty LimitedMerrill Lynch (Australia) Nominees Pty Limited
Power to (or to control)
exercise vote and/or dispose of
the securities as discretionary
investment managers or
advisers of superannuation
funds, pooled superannuation
trusts, managed investment
schemes and investment
management agreements.
4,353,796 FPO
Morgan Stanley & Co. International PLCMorgan Stanley & Co. International PLC
as above8,786,456 FPO
Goldman Sachs InternationalGoldman Sachs Internationalas above7,680,163 FPO
State Street Australia Limited (SSAL)State Street Australia Limited (SSAL)as above1,884,432 FPO
Citicorp Nominees Pty LtdCiticorp Nominees Pty Ltdas above
10,326,088
FPO
National Nominees LimitedNational Nominees Limitedas above1,327,923 FPO
JPMorgan Chase Bank, N.A.JPMorgan Chase Bank, N.A.as above
6,370,324
FPO
L1 Capital Strategic Equity Management Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd
Class and number of securities
L1 Capital Pty Ltd
L1 Capital Pty Ltd
L1 Capital Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd