SPH Notice – L1 Capital Pty Ltd

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 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 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)
2/09/2025
26/08/2024
26/08/2024
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:
Present noticePrevious notice
10.25%
Person's votesVoting power (5)Person's votes
50,076,801 11.54%44,484,641
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)

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.
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
4/09/2025
Jane StewartHead of Legal & Compliance
L1 Capital Strategic Equity Management Pty LtdLevel 45, 101 Collins Street, Melbourne, VIC, 3001

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 9 pages referred to in the Form 604 (Notice of change of interests of substantial holder)
Print NameJane StewartCapacityHead of Legal & Compliance
Sign HereDate
4/09/2025
Changes in relevant interests
Date of changePerson whose relevant interest changedNature of change (6)
Consideration given in
relation to change (7)
Class and number
of securities
affected
Person's votes affected
28/08/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
116,550.72$ 14,716
FPO
14,716
30/08/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
84,925.24$ 10,669
FPO
10,669
5/09/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
111,555.99$ 13,621
FPO
13,621
6/09/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
10,980.48$ 1,344
FPO
1,344
10/09/2024
L1 Capital Pty Ltd On-Market Purchase
694,309.17$ 83,789
FPO
83,789
10/09/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
11,814.40$ 1,420
FPO
1,420
12/09/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
12,070.00$ 1,420
FPO
1,420
16/09/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
1,951.56$ 234
FPO
234
18/09/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
2,613.55$ 313
FPO
313
19/09/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
445,111.42$ 53,628
FPO
53,628
23/09/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
6,915.48$ 858
FPO
858
24/09/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
24,348.72$ 3,036
FPO
3,036
25/09/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
4,073.22$ 513
FPO
513
30/09/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
28,325.85$ 3,563
FPO
3,563

2/10/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
7,240.09$ 913
FPO
913
3/10/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
10,040.00$ 1,255
FPO
1,255
23/10/2024
L1 Capital Pty Ltd On-Market Purchase
271,770.28$ 33,723
FPO
33,723
23/10/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
271,770.28$ 33,723
FPO
33,723
24/10/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
13,712.55$ 1,695
FPO
1,695
28/10/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
5,429.76$ 672
FPO
672
29/10/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
324,891.82$ 39,913
FPO
39,913
31/10/2024
L1 Capital Pty Ltd On-Market Purchase
891,688.29$ 111,018
FPO
111,018
31/10/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
755,281.65$ 94,052
FPO
94,052
1/11/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
5,887.35$ 735
FPO
735
7/11/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
95,790.64$ 12,034
FPO
12,034
13/11/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
4,313.92$ 544
FPO
544
20/11/2024
L1 Capital Pty Ltd On-Market Purchase
504,652.34$ 62,717
FPO
62,717
20/11/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
504,652.34$ 62,717
FPO
62,717
26/11/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
5,368.82$ 662
FPO
662
27/11/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
79,760.15$ 9,715
FPO
9,715
3/12/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
2,679.48$ 324
FPO
324
5/12/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
2,458,350.00$ 300,000
FPO
300,000
10/12/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
5,823.30$ 705
FPO
705
11/12/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
4,488.00$ 550
FPO
550
13/12/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
2,542.80$ 312
FPO
312

17/12/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
2,369,850.00$ 290,000
FPO
290,000
18/12/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
2,074,736.03$ 253,629
FPO
253,629
27/12/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
2,665.96$ 332
FPO
332
30/12/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
47,678.90$ 5,945
FPO
5,945
31/12/2024
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
119,060.30$ 14,995
FPO
14,995
2/01/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
5,909.61$ 749
FPO
749
3/01/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
2,765.00$ 350
FPO
350
10/01/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
15,518.47$ 1,987
FPO
1,987
17/01/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
2,470.70$ 310
FPO
310
22/01/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
1,912.41$ 243
FPO
243
23/01/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
4,290.00$ 550
FPO
550
30/01/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
3,014.76$ 388
FPO
388
31/01/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
5,841.54$ 747
FPO
747
3/02/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
6,571.26$ 849
FPO
849
6/02/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
4,848.40$ 620
FPO
620
7/02/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
7,558.24$ 974
FPO
974
10/02/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
113,313.60$ 14,640
FPO
14,640
12/02/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
2,917.98$ 377
FPO
377
17/02/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
17,652.41$ 2,243
FPO
2,243
19/02/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
90,300.10$ 11,330
FPO
11,330
24/02/2025
L1 Capital Pty Ltd On-Market Purchase
1,803.60$ 240
FPO
240

24/02/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
4,935.70$ 641
FPO
641
25/02/2025
L1 Capital Pty Ltd On-Market Purchase
873,269.68$ 116,151
FPO
116,151
25/02/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
12,087.55$ 1,601
FPO
1,601
26/02/2025
L1 Capital Pty Ltd On-Market Purchase
766,620.38$ 101,708
FPO
101,708
26/02/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
5,617.48$ 748
FPO
748
27/02/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
246,629.88$ 32,623
FPO
32,623
28/02/2025
L1 Capital Pty Ltd On-Market Purchase
2,283,630.69$ 303,081
FPO
303,081
28/02/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
68,198.88$ 9,069
FPO
9,069
3/03/2025
L1 Capital Pty Ltd On-Market Purchase
2,895,241.00$ 386,205
FPO
386,205
3/03/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
66,670.05$ 8,949
FPO
8,949
5/03/2025
L1 Capital Pty Ltd On-Market Purchase
224,735.50$ 30,998
FPO
30,998
5/03/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
15,884.75$ 2,191
FPO
2,191
6/03/2025
L1 Capital Pty Ltd On-Market Purchase
5,460,000.00$ 750,000
FPO
750,000
7/03/2025
L1 Capital Pty Ltd On-Market Purchase
157,690.29$ 21,513
FPO
21,513
7/03/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
74,460.00$ 10,200
FPO
10,200
10/03/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
69,554.37$ 9,489
FPO
9,489
14/03/2025
L1 Capital Pty Ltd On-Market Purchase
178,312.78$ 24,472
FPO
24,472
14/03/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
178,312.78$ 24,472
FPO
24,472
17/03/2025
L1 Capital Pty Ltd On-Market Purchase
2,844,000.00$ 400,000
FPO
400,000
17/03/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
200,220.00$ 28,200
FPO
28,200
18/03/2025
L1 Capital Pty Ltd On-Market Purchase
1,424,000.00$ 200,000
FPO
200,000

18/03/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
3,963.31$ 559
FPO
559
19/03/2025
L1 Capital Pty Ltd On-Market Purchase
306,606.42$ 43,614
FPO
43,614
19/03/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
12,436.07$ 1,769
FPO
1,769
20/03/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
3,015.60$ 420
FPO
420
24/03/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
52,675.20$ 7,316
FPO
7,316
26/03/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
3,579.39$ 491
FPO
491
31/03/2025
L1 Capital Pty Ltd On-Market Purchase
184,201.62$ 25,159
FPO
25,159
31/03/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
64,656.95$ 8,845
FPO
8,845
2/04/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
74,619.40$ 10,180
FPO
10,180
4/04/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
29,113.89$ 3,929
FPO
3,929
7/04/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
11,885.71$ 1,667
FPO
1,667
9/04/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
80,521.28$ 11,168
FPO
11,168
11/04/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
75,165.00$ 10,022
FPO
10,022
15/04/2025
L1 Capital Pty Ltd On-Market Sale
30,566.87$ 4,102
FPO
4,102
15/04/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
30,566.87$ 4,102
FPO
4,102
16/04/2025
L1 Capital Pty Ltd On-Market Sale
857,947.28$ 115,066
FPO
115,066
16/04/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
235,099.30$ 31,531
FPO
31,531
17/04/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
13,460.94$ 1,802
FPO
1,802
22/04/2025
L1 Capital Pty Ltd On-Market Purchase
8,707.56$ 1,174
FPO
1,174
23/04/2025
L1 Capital Pty Ltd On-Market Sale
161,888.35$ 22,141
FPO
22,141
24/04/2025
L1 Capital Pty Ltd On-Market Sale
1,553,617.19$ 212,229
FPO
212,229

24/04/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
4,925.88$ 671
FPO
671
28/04/2025
L1 Capital Pty Ltd On-Market Sale
820,043.56$ 110,518
FPO
110,518
30/04/2025
L1 Capital Pty Ltd On-Market Sale
507,015.20$ 68,413
FPO
68,413
30/04/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
102,814.52$ 13,865
FPO
13,865
1/05/2025
L1 Capital Pty Ltd On-Market Sale
1,507,872.80$ 200,515
FPO
200,515
2/05/2025
L1 Capital Pty Ltd On-Market Sale
2,289,429.35$ 301,580
FPO
301,580
2/05/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
3,396.20$ 448
FPO
448
6/05/2025
L1 Capital Pty Ltd On-Market Sale
507,638.72$ 67,281
FPO
67,281
6/05/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
7,890.09$ 1,047
FPO
1,047
7/05/2025
L1 Capital Pty Ltd On-Market Sale
63,345.33$ 8,407
FPO
8,407
7/05/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
60,808.53$ 8,071
FPO
8,071
8/05/2025
L1 Capital Pty Ltd On-Market Sale
205,631.27$ 26,806
FPO
26,806
8/05/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
2,888.87$ 378
FPO
378
9/05/2025
L1 Capital Pty Ltd On-Market Sale
201,003.56$ 26,411
FPO
26,411
12/05/2025
L1 Capital Pty Ltd On-Market Sale
663,044.74$ 86,364
FPO
86,364
12/05/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
5,393.70$ 704
FPO
704
13/05/2025
L1 Capital Pty Ltd On-Market Sale
8,290.10$ 1,090
FPO
1,090
13/05/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
8,290.10$ 1,090
FPO
1,090
16/05/2025
L1 Capital Pty Ltd On-Market Sale
2,283,000.00$ 300,000
FPO
300,000
19/05/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
48,997.12$ 6,464
FPO
6,464
20/05/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
3,479.22$ 459
FPO
459

21/05/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
736,258.42$ 97,651
FPO
97,651
23/05/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
4,703.72$ 628
FPO
628
26/05/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
3,052.07$ 413
FPO
413
27/05/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
1,458.60$ 195
FPO
195
28/05/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
526,734.12$ 70,419
FPO
70,419
30/05/2025
L1 Capital Pty Ltd On-Market Purchase
1,073,382.41$ 142,468
FPO
142,468
30/05/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
1,213,774.66$ 161,063
FPO
161,063
4/06/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
9,886.24$ 1,274
FPO
1,274
10/06/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
4,840.92$ 612
FPO
612
11/06/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
2,881.52$ 362
FPO
362
12/06/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
13,946.78$ 1,739
FPO
1,739
13/06/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
2,265,255.02$ 284,000
FPO
284,000
16/06/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
243,065.28$ 30,232
FPO
30,232
18/06/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
3,447.36$ 432
FPO
432
19/06/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
2,558.16$ 323
FPO
323
20/06/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
5,493.45$ 691
FPO
691
23/06/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
5,722.46$ 718
FPO
718
24/06/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
3,041.50$ 385
FPO
385
25/06/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
6,757.50$ 850
FPO
850
26/06/2025
L1 Capital Pty Ltd On-Market Purchase
2,481,275.30$ 315,917
FPO
315,917
26/06/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
2,481,275.30$ 315,917
FPO
315,917

30/06/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
52,155.18$ 6,678
FPO
6,678
1/07/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
3,862.32$ 484
FPO
484
2/07/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
5,935,037.79$ 741,787
FPO
741,787
9/07/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
258,291.55$ 33,088
FPO
33,088
10/07/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
296,868.42$ 37,808
FPO
37,808
17/07/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
10,162.32$ 1,288
FPO
1,288
21/07/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
12,040.14$ 1,526
FPO
1,526
22/07/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
2,563.04$ 332
FPO
332
23/07/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
6,051.40$ 790
FPO
790
28/07/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
2,423.96$ 308
FPO
308
30/07/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
7,384.00$ 923
FPO
923
31/07/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
48,280.40$ 6,020
FPO
6,020
1/08/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
3,892.86$ 486
FPO
486
7/08/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
3,363.10$ 398
FPO
398
11/08/2025
L1 Capital Pty Ltd On-Market Sale
164,384.40$ 19,291
FPO
19,291
11/08/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
102,562.37$ 12,036
FPO
12,036
12/08/2025
L1 Capital Pty Ltd On-Market Sale
181,920.99$ 21,377
FPO
21,377
12/08/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
113,491.06$ 13,336
FPO
13,336
13/08/2025
L1 Capital Pty Ltd On-Market Sale
103,893.90$ 12,317
FPO
12,317
13/08/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
64,806.11$ 7,683
FPO
7,683
18/08/2025
L1 Capital Pty Ltd On-Market Sale
1,718,255.34$ 203,216
FPO
203,216

18/08/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
1,071,998.69$ 126,784
FPO
126,784
20/08/2025
L1 Capital Pty Ltd On-Market Sale
1,175,439.45$ 137,452
FPO
137,452
20/08/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
377,127.15$ 44,100
FPO
44,100
22/08/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
4,773.00$ 555
FPO
555
27/08/2025
L1 Capital Pty Ltd On-Market Sale
539,477.98$ 60,916
FPO
60,916
27/08/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
169,762.51$ 19,169
FPO
19,169
28/08/2025
L1 Capital Pty Ltd On-Market Sale
2,902,200.28$ 327,901
FPO
327,901
28/08/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
931,595.48$ 105,255
FPO
105,255
29/08/2025
L1 Capital Pty Ltd On-Market Sale
3,554,884.90$ 400,974
FPO
400,974
29/08/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
1,171,574.54$ 132,148
FPO
132,148
1/09/2025
L1 Capital Pty Ltd On-Market Sale
365,017.10$ 41,075
FPO
41,075
1/09/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
120,057.97$ 13,510
FPO
13,510
2/09/2025
L1 Capital Pty Ltd On-Market Sale
4,517,179.30$ 514,404
FPO
514,404
2/09/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Sale
20,266,005.80$ 2,315,523
FPO
2,315,523
3/09/2025
L1 Capital Strategic Equity Management Pty Ltd On-Market Purchase
11,152.88$ 1,279
FPO
1,279

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
4/09/2025
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.
6,360,368
FPO
Morgan Stanley & Co. International PLCMorgan Stanley & Co. International PLCas above
5,934,490 FPO
Goldman Sachs InternationalGoldman Sachs Internationalas above
7,285,758 FPO
JPMorgan Chase Bank, N.A.JPMorgan Chase Bank, N.A.as above
8,861,951 FPO
State Street Australia Limited (SSAL)State Street Australia Limited (SSAL)as above310,034 FPO
Citicorp Nominees Pty LtdCiticorp Nominees Pty Ltdas above
9,667,261 FPO
JPMorgan Chase Bank, N.A.JPMorgan Chase Bank, N.A.as above
6,064,779
FPO
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
L1 Capital Pty Ltd