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 434,167,294 shares*Based on issued capital of 433,887,294 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
10.44%
Person's votesVoting power (5)Person's votes
40,729,182 9.38%45,287,235
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)
30/04/2024
22/09/2023
22/09/2023
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 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 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
2/05/2024
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 StewartCapacityHead of Legal & Compliance
Sign HereDate
2/05/2024
Changes in relevant interests
20/10/2023
On-Market Purchase 3,000,923.20$
431,670
FPO
431,670
24/10/2023
On-Market Purchase 2,135,329.81$
316,111
FPO
316,111
30/10/2023
On-Market Purchase 1,749,592.24$
270,000
FPO
270,000
31/10/2023
On-Market Purchase 1,648,050.00$
250,000
FPO
250,000
2/11/2023
On-Market Purchase 266,854.09$
39,642
FPO
39,642
2/11/2023
On-Market Sale 266,854.09$
39,642
FPO
39,642
8/11/2023
On-Market Purchase 3,477,078.78$
507,373
FPO
507,373
15/11/2023
On-Market Purchase
523,169.70$
74,134
FPO
74,134
17/11/2023
On-Market Purchase 234,491.51$
33,451
FPO
33,451
20/11/2023
On-Market Purchase 93,724.48$
13,544
FPO
13,544
21/11/2023
On-Market Purchase 89,146.17$
12,717
FPO
12,717
23/11/2023
On-Market Purchase
406,367.72$
58,315
FPO
58,315
24/11/2023
On-Market Purchase 46,631.97$
6,729
FPO
6,729
29/11/2023
On-Market Purchase 30,773.90$
4,390
FPO
4,390
30/11/2023
On-Market Purchase 81,153.54$
11,414
FPO
11,414
1/12/2023
On-Market Purchase 19,204.90$
2,686
FPO
2,686
4/12/2023
On-Market Purchase 1,493.44$
208
FPO
208
5/12/2023
On-Market Purchase 132,864.01$
18,479
FPO
18,479
6/12/2023
On-Market Purchase 45,358.04$
6,188
FPO
6,188
7/12/2023
On-Market Sale 1,212,963.13$
169,093
FPO
169,093
8/12/2023
In-Specie Transfer Out N/A
62,000
FPO
62,000
8/12/2023
On-Market Sale 1,073,250.00$
150,000
FPO
150,000
11/12/2023
On-Market Sale 1,075,909.28$
149,324
FPO
149,324
12/12/2023
On-Market Sale 1,072,632.04$
149,465
FPO
149,465
12/12/2023
On-Market Sale 431,820.52$
60,162
FPO
60,162
13/12/2023
On-Market Purchase 79,620.71$
11,167
FPO
11,167
18/12/2023
On-Market Purchase 25,729.61$
3,629
FPO
3,629
19/12/2023
On-Market Purchase 45,830.50$
6,455
FPO
6,455
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 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
Class and number of securities
affected
L1 Capital Strategic Equity Management Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd
Person's votes affected
L1 Capital Strategic Equity Management Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd
L1 Capital Pty Ltd
L1 Capital Pty Ltd
L1 Capital Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd
Consideration given in
relation to change (7)
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)
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 Pty Ltd
L1 Capital Pty Ltd
L1 Capital Strategic Equity Management Pty Ltd

20/12/2023
On-Market Purchase
14,081.75$
1,975
FPO
1,975
21/12/2023
On-Market Sale
53,825.19$
7,507
FPO
7,507
22/12/2023
On-Market Purchase 34,966.32$
4,911
FPO
4,911
27/12/2023
On-Market Purchase 8,985.44$
1,262
FPO
1,262
28/12/2023
On-Market Sale 370,529.33$
51,298
FPO
51,298
28/12/2023
On-Market Purchase 10,492.40$
1,459
FPO
1,459
29/12/2023
On-Market Purchase 59,864.11$
8,167
FPO
8,167
2/01/2024
On-Market Purchase 1,138.80$
156
FPO
156
3/01/2024
On-Market Sale 2,372.50$
325
FPO 325
4/01/2024
On-Market Purchase 57,803.77$
7,951
FPO 7,951
8/01/2024
On-Market Purchase 246,556.34$
34,286
FPO
34,286
9/01/2024
On-Market Purchase 83,050.24$
11,408
FPO 11,408
10/01/2024
On-Market Purchase 3,562.40$
488
FPO 488
11/01/2024
On-Market Purchase 11,369.16$
1,566
FPO 1,566
12/01/2024
On-Market Purchase 11,228.16$
1,536
FPO 1,536
15/01/2024
On-Market Purchase 5,336.00$
736
FPO 736
16/01/2024
On-Market Purchase 3,752.37$
519
FPO 519
17/01/2024
On-Market Purchase 16,071.09$
2,229
FPO 2,229
18/01/2024
On-Market Sale 181,529.80$
25,460
FPO 25,460
19/01/2024
On-Market Purchase 6,560.55$
915
FPO 915
22/01/2024
On-Market Sale 286,535.32$
39,892
FPO 39,892
24/01/2024
On-Market Purchase 6,952.40$
955
FPO 955
29/01/2024
On-Market Purchase 2,043.30$
278
FPO 278
30/01/2024
On-Market Sale 27,724.20$
3,772
FPO 3,772
31/01/2024
On-Market Purchase 19,192.50$
2,559
FPO 2,559
2/02/2024
On-Market Purchase 75,293.78$
10,093
FPO 10,093
6/02/2024
On-Market Purchase 126,431.09$
16,729
FPO
16,729
8/02/2024
On-Market Sale 501,480.37$
67,149
FPO 67,149
9/02/2024
On-Market Sale 14,965.02$
1,998
FPO 1,998
12/02/2024
On-Market Purchase 172,531.00$
23,125
FPO 23,125
13/02/2024
On-Market Purchase 136,730.88$
18,304
FPO 18,304
14/02/2024
On-Market Sale 7,367.83$
997
FPO 997
15/02/2024
On-Market Purchase 5,822,594.56$
783,893
FPO
783,893
16/02/2024
On-Market Sale 1,999.28$
268
FPO 268
19/02/2024
On-Market Purchase 10,595.25$
1,385
FPO 1,385
20/02/2024
On-Market Purchase 7,581.15$
991
FPO 991
22/02/2024
On-Market Purchase 303,022.59$
39,819
FPO 39,819
23/02/2024
On-Market Purchase 11,642.10$
1,542
FPO 1,542
26/02/2024
On-Market Purchase 66,639.32$
8,909
FPO 8,909
29/02/2024
On-Market Purchase 64,271.15$
8,627
FPO 8,627
1/03/2024
On-Market Purchase 1,994.49$
267
FPO 267
7/03/2024
On-Market Purchase 100,374.12$
13,419
FPO 13,419
14/03/2024
On-Market Sale 227,137.05$
30,903
FPO 30,903
15/03/2024
On-Market Sale 40,022.10$
5,490
FPO 5,490
18/03/2024
On-Market Purchase 7,131,580.45$
1,006,569
FPO
1,006,569
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
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
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
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
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
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
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

18/03/2024
On-Market Sale
53,297.03$
7,517
FPO 7,517
19/03/2024
On-Market Purchase
4,051,573.80$
577,190
FPO
577,190
20/03/2024
On-Market Purchase 3,727.50$
525
FPO
525
25/03/2024
On-Market Purchase 1,872.56$
263
FPO 263
28/03/2024
On-Market Purchase 2,808,440.00$
400,000
FPO
400,000
11/04/2024
On-Market Purchase 687,482.81$
99,491
FPO
99,491
11/04/2024
On-Market Purchase 3,517.19$
509
FPO 509
17/04/2024
On-Market Purchase 603,188.29$
87,785
FPO
87,785
17/04/2024
On-Market Sale 603,188.29$
87,785
FPO 87,785
29/04/2024
On-Market Sale 10,158.03$
1,537
FPO 1,537
30/04/2024
On-Market Purchase 2,021,481.44$
307,850
FPO
307,850
1/05/2024
On-Market Purchase 540,125.31$
82,443
FPO 82,443
2/05/2024
On-Market Purchase 112,083.36$
17,005
FPO 17,005
2/05/2024
On-Market Purchase 8,212.64$
1,246
FPO 1,246
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
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

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
2/05/2024
Details of present relevant interests
Holder of relevant interestRegistered holder of securities
Persons 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.
9,260,369
FPO
Morgan Stanley & Co. International PLCMorgan Stanley & Co. International PLC
as above
9,245,272
FPO
Goldman Sachs InternationalGoldman Sachs International
as above
6,917,469
FPO
State Street Australia Limited (SSAL)State Street Australia Limited (SSAL)
as above
1,193,714 FPO
Citicorp Nominees Pty LtdCiticorp Nominees Pty Ltd
as above
10,433,212
FPO
National Nominees LimitedNational Nominees Limited
as above
1,237,504
FPO
JPMorgan Chase Bank, N.A.JPMorgan Chase Bank, N.A.
as above
6,999,695
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