Amended SPH Notice - Regal Funds Management

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Disclosure of beginning to have substantial holding
Section 276, Financial Markets Conduct Act 2013
Note: This form must be completed in accordance with the instructions at the end of the
form.
To NZX Limited
and
To VISTA GROUP INTERNATIONAL LIMITED
Date this disclosure made: 08 September 2025
Date on which substantial holding began: 04 September 2025
Substantial product holder(s) giving disclosure
Full name(s): Regal Funds Management Pty Ltd
Summary of substantial holding
Class of quoted voting products: Ordinary Shares, (NZX: VGL, ISIN: NZVGLE000351)
Summary for Regal Funds Management Pty Ltd
For this disclosure,—
(a)total number held in class: 14,028,621
(b)total in class: 238,834,381
(c)total percentage held in class: 5.874%
Details of relevant interests
Details for Regal Funds Management Pty Ltd
Nature of relevant interest(s): Relevant interest by virtue of Regal Funds Management Pty
Limited having the power to acquire or dispose of financial products in its capacity as
trustee and manager/advisor of the Regal Atlantic Absolute Return Fund, Zambezi Absolute
Return Fund, Regal Absolute Return Master Fund, Amazon Market Neutral Fund, Regal
Tasman Market Neutral Fund, Regal Australian Long Short Equity Fund, Regal Australian
Active Extension Trust, Regal No. 3 Fund, Regal Australia Small Companies Fund, Regal
Australia Small Companies Trust, Regal Global Small Companies Fund, Regal Investment
Fund, Regal Partners Private Fund, Regal Tactical Opportunities Fund, Regal Tactical
Opportunities (Offshore) Master Fund.
For that relevant interest,—
(a)number held in class: 12,930,762
(b)percentage held in class: 5.414%
(c)current registered holder(s):
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Regal Atlantic Absolute Return Fund (0.529%), (UBS Nominees Pty Ltd)
Zambezi Absolute Return Fund (0.378%), (UBS Nominees Pty Ltd)
Regal Absolute Return Master Fund (0.069%), (UBS Nominees Pty Ltd)
Amazon Market Neutral Fund (0.148%), (UBS Nominees Pty Ltd)
Regal Tasman Market Neutral Fund (0.129%), (UBS Nominees Pty Ltd)
Regal Australian Long Short Equity Fund (0.166%), (UBS Nominees Pty Ltd)
Regal Australian Active Extension Trust (0.829%), (UBS Nominees Pty Ltd)
Regal No. 3 Fund (0.272%), (UBS Nominees Pty Ltd)
Regal Australia Small Companies Fund (1.022%), (UBS Nominees Pty Ltd)
Regal Australia Small Companies Trust (0.458%), (UBS Nominees Pty Ltd)
Regal Global Small Companies Fund (0.287%), (UBS Nominees Pty Ltd)
Regal Investment Fund (0.392%), (UBS Nominees Pty Ltd)
Regal Partners Private Fund (0.287%), (UBS Nominees Pty Ltd)
Regal Tactical Opportunities Fund (0.236%), (UBS Nominees Pty Ltd)
Regal Tactical Opportunities (Offshore) Master Fund (0.209%), (UBS Nominees Pty Ltd)
Details of relevant interests
Details for Regal Funds Management Pty Limited
Nature of relevant interest(s): derivative relevant interest over quoted underlying.
For that relevant interest,—
(a)number held in class: 1,097,859
(b)percentage held in class: 0.460%
(c)current registered holder(s):
Zambezi Absolute Return Fund (0.292%), (UBS Nominees Pty Ltd)
Regal Absolute Return Master Fund (0.054%), (UBS Nominees Pty Ltd)
Amazon Market Neutral Fund (0.114%), (UBS Nominees Pty Ltd)
For a derivative relevant interest, also—
(a)type of derivative: Cash Settled Swap Agreement
(b)details of derivative: (refer attached)
(c)parties to the derivative: Zambezi Absolute Return Fund, Regal Absolute Return
Fund & Amazon Market Neutral Fund; UBS Nominees Pty Ltd
(d)if the substantial product holder is not a party to the derivative, the nature of the
relevant interest in the derivative: Power to control the acquisition or disposal of the
financial product under an agreement.
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Details of transactions and events giving rise to substantial holding
Details of the transactions or other events requiring disclosure: Relevant interest in Vista
Group International Limited shares arising via on market purchase of shares.
DateBuy/SellTransaction TypeSharesConsideration
04/09/2025BuyBuy7,500,000$22,500,000.00 NZD
04/09/2025BuyBuy7,666,666$20,633,298.21 AUD
Additional information
Address(es) of substantial product holder(s): Regal Funds Management Pty Ltd
Level 46, 1 Macquarie Place, NSW, 2000, Sydney, Australia
Contact details: Regal Funds Management Pty Ltd
Ph: +61 2 8197 4333
Email: reception@regalfm.com
Name of any other person believed to have given, or believed to be required to give, a
disclosure under the Financial Markets Conduct Act 2013 in relation to the financial
products to which this disclosure relates: N/A
Certification
I, Ian Cameron 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.
_____________________date: 08/09/2025
Ian Cameron
Director
Regal Funds Management
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Attachment
VGL – Becoming a substantial Shareholder by Regal Funds Management Pty
Limited dated 08/09/2025
Details of Derivative
Parties to the DerivativeUBS Nominees Pty
Ltd, Zambezi
Absolute Return
Fund
UBS Nominees
Pty Ltd, Regal
Absolute Return
Master Fund
UBS Nominees Pty
Ltd, Amazon
Market Neutral
Fund
Notional number of
underlying financial
products
696,769127,916273,174
Cash or physical settledCash settled swapCash settled
swap
Cash settled swap
Maturity Date13 September 202731 October 202517 September
2027
Expiry Daten/an/an/a
Entry price AUD 2.694AUD 2.694AUD 2.694
How value of derivative
determined by value of
the underlying Mark to marketMark to marketMark to market
100080615/3821102.1